Banks are becoming more critical to a countrys entire financial industry; their presence keeps the wheels of global finance moving. The sole clients of the integrated bank are those who determine the banking industrys success. The status of a countrys financial sector determines its stability and economic growth (Mengesha, 2016). Bangladeshs banking industry continues to play an essential role in the countrys thriving economy (Babu, 2018). According to Prakash et al., banks are one of the most important players in every economys financial system, (2017). The modern banking industry is attempting to improve customer satisfaction and develop customer-centered initiatives in a number of ways (Uddin, 2020; Kheng et al., 2010). 

According to surveys, the most common reason for switching banks is a lack of customer satisfaction (Magesh, 2010). In order to attract and keep clients, various banks in Bangladesh provide a variety of services. Traditionally, a banks functions were restricted to accepting public deposits and lending them to clients. Most banks are progressively offering new services, products, and incentives to maintain and attract current and potential clients, as well as expand their market share. Customers are not the same as they were yesterday, according to banks, since they are more informed, demanding, analytical, and aware of their rights, and their living conditions have improved. The rising volume of financial transactions necessitates the use of modern services. Certainly, the functions (services or roles) of banks in the economy may be used to identify those (Gazi & Talukder, 2017a). The banking industry contributes to the growth of the domestic economy by offering a wide range of services (Kenourgios and Samitas, 2007). A bank is a financial intermediary that accepts deposits and loans while simultaneously providing the most comprehensive range of services of any financial organization (Uddin & Akhter, 2012). Banking services marketing is distinct from product marketing in that it employs entirely different approaches and strategies. Customer satisfaction should be maintained throughout time, and the bank should be able to collect and convey it appropriately (Gazi and Talukder, 2017b). Customer satisfaction refers to a banks ability to meet a clients demands through its goods and services (Munusamy et al., 2010).

Objectives of the Study

The purpose of this research is to find out how satis-fied clients are with private commercial banks in Rangpur, Bangladesh. The objective may be broken down into three parts:

RO1: Determine the characteristics that influence client satisfaction in a group of private commercial banks.

RO2: For each bank, determine the discrepancy between consumer expectations and perceptions.

RO3: To compare and assess three banks customer satisfaction and service quality.

The goal and goals may be used to generate two research questions:

RQ 1: How important is client pleasure to the tangibility and reliability of private commercial banks?

RQ 2: How do responsiveness, certainty, and empathy in private commercial banks contribute to client satisfaction?

Satisfaction - In 1980, customer satisfaction was de-fined as having all of ones needs and criteria satisfied, according to Oliver. Its a state of mind or emotion that develops as a result of interacting with a product or service. Kotler and Keller, (2005) define satisfaction as a persons evaluation of a products perceived performance (or result) in accordance to his or her expectations. Customer satisfaction is a new approach to quality in businesses and organizations that assists in the development of a customer-centric management and culture. According to Drucker (1954), a companys principal objective is to produce satisfied customers. Customer satisfaction has been related to higher future profits and lower expenses associated with faulty goods and services (Anderson et al., 1994). 

Service - Services, according to Zeithaml and Bitner, are acts, procedures, and consequences (2007-08). Kotler and Armstrong, (2010) define service as "any intangible activity or benefit that one person may provide to another without resulting in ownership of something." Initially, the bank offers account opening, regular operations, deposit programs, and lending options. In addition, commercial banks now provide specialized services such as Internet banking, home banking, Electronic Banking Services for Windows (EBSW), and Automated Teller Machines (ATM). Tele banking, mobile banking, credit card and debit card services, a variety of loan products, utility bill payment services, and a variety of other transaction services are all available (Mahmud and Rahman, 2020).

Service Quality - Although a firm may provide a diverse range of services, customer happiness is determined by the quality of those services. Since it is seen as a major concern in customer perspectives, service quality has taken on enormous importance in the service sector and has been the topic of academic study (Alam and Momotaz, 2008). Experts have used phrases like "fitness for use," "conformance to norms," "freedom from variance," and others (Deming et al., 1990). Zeithmall and Bitner see pleasure as a larger term, (2007). Service quality, on the other hand, is concerned with the dimensions of service. Service quality is the result of effective service delivery when consumers obtain service that meets or exceeds their expectations, according to Parasuraman et al. (1988). In addition, Parasuraman et al. (1988, 1991) and Zeithmal, (1993) created SERVQUAL dimensions to assess a service organizations customer satisfaction. The historical literature on service quality has placed a strong emphasis on client satisfaction and quality perceptions (Cronin Jr & Taylor, 1992; Taylor & Baker, 1994). According to research, high-quality service boosts customer satisfaction and helps businesses acquire new consumers while keeping old ones (Keiser, 1993; Lian, 1994a, 1994b). Similarly, most banks think that in order to achieve customer pleasure, quality of service should be employed to achieve excellence in service (Mahoney, 1994). One Madsen, (1993) provided a simple explanation of service excellence, stating that it allows businesses to excite and keep customers by going above and beyond customer pleasure. Client satisfaction is important for the success of service organizations such as banks, according to Karim and Chowdhury (2014). Customer satisfaction is now partly determined on the level of service given. It is becoming increasingly evident that customer happiness is connected to service quality. The purpose of this research is to see how service quality affects customer satisfaction in Bangladeshs private sector banks. Customer satisfaction is impacted by the degree of service offered, according to the study. In the global economy, the banking sectors requirements have become more diverse and exotic than ever before. As a result, banks should focus on service quality to ensure that their customers are satisfied in all elements of service quality. Because of the severe competition in local and global markets, Islam and Niaz, (2014) say that in todays business climate, delivering good service quality to customers is important. The ability to offer high-quality service may strengthen the brand, increase customer retention, and attract new potential customers by increasing customer satisfaction and loyalty. The purpose of this study is to see how customer happiness in the banking business is affected by service quality. Furthermore, the study looks at the empirical elements that influence service quality in Bangladesh. Initial experience, delivery service condition, service experience, relationship and atmosphere, and grievance management are the five criteria of service quality examined in this study. The correlation results reveal a favorable link between service quality and client satisfaction. According to Islam and Ahmed (2005), service quality is the difference between expected and perceived services. According to the survey, consumers expect four areas of service quality from banks: meeting obligations on time, providing personal attention to clients, having tangible bank facilities, and having pleasant and knowledgeable bank personnel. The goal of this research is to figure out what factors impact bank service quality in Dhaka City. It provides a relationship between the variables and the banks overall quality. A banks whole quality is described as its overall quality, which includes service quality, market position, growth rate, liquidity condition, and other variables. The data show that the most important factor in bank service quality is human attention to clients, followed by error-free records, transaction security, and the banks real physical facilities. According to the survey, there is also a significant difference in the expected and perceived service quality of public and private banks. The timely execution of promises and the clients professions are inextricably linked. According to Ashaduzaman et al. (2012), customer satisfaction is a new approach for measuring quality in firms and organizations that assists in the creation of a truly customer-oriented management and culture. Customer satisfaction surveys give fast, actionable, and objective data about a customers preferences and expectations. The results of an innovative customer satisfaction survey performed in Bangladeshs private commercial banking industry are presented in this article. The chosen method is based on the SERVQUAL instrument, which assesses perceived service quality using five service dimensions. It has been established that customer satisfaction and service quality attributes (reliability, responsiveness, assurance, empathy, and tangibles) have a positive and significant relationship. The ramifications for marketers in the banking business in terms of enhancing service quality delivery are highlighted in the report. According to Das and Jannat, customer dissatisfaction can be caused by a lack of equipment and physical facilities, insufficient ATM booths, slow service, and a lack of individualized attention to customers, (2018). Customers, on the other hand, place a larger value on additional services, but banks must also focus on these.

Rahman et al. (2019) discovered a link between service quality metrics, customer pleasure, and customer loyalty. When service quality standards are combined, the chance of increased client satisfaction improves, which ensures consumer loyalty to the bank. There is a mismatch between good service delivery standards and perceived service quality, according to Khan and Imami, (2020). As a consequence, there is opportunity for improvement in all five SERVQUAL metrics. To bridge the gap and provide an exceptional client experience, banks must improve their current services. Effective service delivery is reliant on seven aspects of service quality, according to Rahman et al. (2020). Measurable effort is necessary in the service quality elements. Customers will be unsatisfied with banking services if there is a lack of effort in any element of service quality. Core service quality attributes paired with blended extra offers, according to Islam et al. (2021), increase customer satisfaction and attract new consumers. In this circumstance, both internal and external services are important for providing excellent auxiliary services. Gazi et al. (2021) looked at whether service quality characteristics have an impact on overall customer satisfaction. Customer happiness is the most important factor in a banks performance. To stay competitive in the banking industry, banks should look for ways to make their customers happy. The majority of service quality research studies were found to be from other cities and countries, but the current study attempts to fill a gap in the literature by evaluating the validity of five SERVQUAL dimensions in Rangpur private banks and identifying the most important relevant dimensions in this context.

Theoretical Framework

The goal of the study is to use SERVQUAL to analyze customer satisfaction at three commercial banks in order to quantify service quality. SERVQUAL (Zeith-mal et al., 1993) is a study that investigates five different aspects of service quality.

Table 1: The Five SERVQUAL Dimensions of Service.

SERVQUAL Dimensions

Parasuraman and colleagues defined ten service excellence qualities in 1985. It is impossible to over-estimate the value of reliability and tangibles. Credibility, security, accessibility, communication, and a comprehensive knowledge of the client, as well as civility, timeliness, and expertise, are all key factors. In 1988, they created the SERVQUAL, a 22-item scale, as a consequence of their research. This scale is used to assess the quality of a service (which has 22 elements). A five-dimensional provider who prioritizes tangibles, reliability, and quality. Empathy, certainty, and responsiveness are three qualities that people look for in a spouse. 

Micuda and Cruceru, (2010) went into great detail on the SERVQUAL dimension. The SERVQUAL model is built on the service quality GAP, which illustrates how customers organize information about service quality in their minds. The overall score is determined by the difference between the perceptions and expectations ratings. This exemplifies the gap between consumer expectations and perceptions of the services actual performance. The SERVQUAL model has been used in a number of service industries, including consumer retail, banking, and accounting firms, with minor adjustments. Hotels, restaurants, real estate, the industrial market, hospitals, travel agencies, higher education, libraries, and other locations in the United States and other countries (Micuda and Cruceru, 2010).

Customer happiness is linked to banks performance on the five SERVQUAL criteria, according to the studys conceptual framework. As a consequence, customer happiness is the dependent variable, which is influenced by five service quality attributes. Reliability, responsiveness, assurance, empathy, and tangibles were the independent factors in this study.

Fig 1: The Five SERVQUAL Dimension.

The gender distribution of the respondents is seen in Table 2, with males accounting for 66% and females accounting for 34%. (a) A significant percentage of res ponders are between the ages of 41 and 50 and work in the business sphere.

Table 2:  Demographic profile of the respondents. 

Impact of SERVQUAL Dimensions on Client Satisfaction

EXIM Bank Limited - The expectations and perceptions of EXIM Bank Ltd. customers on SER-VQUAL dimensions were assessed in order to analyze the influence of SERVQUAL factors on customer satisfaction. 

Regression Analysis: The mean value of the replies to the questions under each dimension is used to calculate the score for that dimension in multiple regression analysis. The scores were regressed on the satisfaction scores (dependent variables) of matching respondents after collecting the mean ratings for the five qualities (for each respondent). The regression analysis result in SPSS is as follows:

Table 3: ANOVAb (EXIM Bank Limited).

The level of service provided by these three financial institutions is generally regarded as satisfactory by their customers. Based on the data, the service quality is rated as ordinary. Customers are less inclined to switch banks and are less active in promoting their current bank than in the past, suggesting a high level of loyalty to such institutions. Despite this, the research shows that many clients are unsatisfied with the banks physical facilities and seating arrangements, as well as a shortage of ATM booths, slow service, and lack of personalized attention. However, in order to reach the desired market position, rapid service development is required. The results of this study show that the SERVQUAL service performance of EXIM Bank Ltd. and Mercantile Bank Ltd. fell short of consumers expectations. According to the poll, accessible services, physical location, and bank response time are all factors in deciding which clients to serve. The most sought-after services in the future will include automated banking, online banking, paperless transactions, Internet banking, mobile banking, and e-mail banking. By implementing these results, private commercial banks may enhance their service quality and please their clients, allowing them to maintain long-term profitability in an increasingly competitive banking industry. The data is intended to be used by bank authorities as a significant indicator for improving service quality, expanding acceptability, and developing effective marketing efforts. Future study should address further measurement-related problems, such as expanding the sample size and examining the applicability of SERVQUAL to narrow more service quality gaps for various types of businesses. 

To begin, we thank Almighty Allah for keeping us well enough to carry out this research. All respondents who took the time to complete the survey, as well as all individuals who contributed directly or indirectly to the studys preparation, are acknowledged.

The authors have no conflicts of interest in publishing this research study.