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Bank Rahkyat Case Study

2249 Words9 Pages

CHAPTER 1: INTRODUCTION

1.1 Background of Study
In recent years, the banking industry in Malaysia has been through a rapid transformation. Many of banking industry focused on customer loyalty. Customer loyalty is the most important key to the banking industry to gain profitability in order to ensure the long term customer relationship. According to Prabhakaran (2003) the customer is the king. Therefore, customer satisfaction is vital in maintaining a loyal customer base. Thus, gaining customer loyalty is a key objective for banking industry to adopt a relationship marketing perspective (Filip and Anghel, 2007). Moreover, loyalty rather than satisfaction is becoming the number one strategic goal in today’s competitive business environment …show more content…

On 6 January 1973, it renamed Bank Kerjasama Rakyat Malaysia (M) Berhad. Bank Rakyat was placed under the supervision of Bank Negara Malaysia (Central Bank Malaysia) under the Development and cooperative Development on 15 February 2002. While, in 2002 Bank Rakyat became the third bank in Malaysia that offer total Islamic banking facilities based on Shariah concepts. To date, Bank Rakyat has total of 146 branches in Malaysia, 17 branches of Rakyat Xcess/ X’Change, 33 branches of Ar-Rahnu X’change that offering Islamic banking product to its customer. On September 2014, Bank Rakyat celebrated their 60th …show more content…

Datuk Mustafha Abdul Razak of Bank Rakyat crowned the CEO of the Year award for his strong leadership skills and vision that helped the organization in driving success for the company. Dr Azman Bin Adnan of Bank Rakyat clinched the Business Manager of the Year award. By winning NAfMA awards, these individuals have clearly showed that they have successfully implement innovative techniques and excellent in management accounting as well as demonstrate leadership qualities in business performance.

Bank Rakyat was again award for the Most Outstanding Islamic Retail Bank in 2013 conjunction with the Kuala Lumpur Islamic Finance Forum (KLIFF) after having won the award in 2007, 2009 and 2012. Legacy of excellence continued with award for Islamic Bank Award Most Profitable 2010/2011 by Association of Islamic Banking Institution Malaysia (AIBIM). This achievement is come from the support of employees, business partner and customer that are loyal to Bank Rakyat for 60 years of

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