Marketing challenges for banking industry in an economic slowdown period

Abstract

iii The report is a comprehensive study of banking in Pakistan regarding its growth, current issues and challenges and future prospects in Pakistan. This report helps to study the main reasons for the challenges faced by the banking sector of Pakistan during the economic slowdown occurred during recent few years. It enables us to understand how the banks managed to fight those challenges and increase their profitability to the normal level as the banking sector was hurt a lot due to the recent recession because people started wid-drawing their deposits. The study is based on primary data i.e. Questionnaires and interviews that are being conducted from officials and customers. The findings from that would be the base. Qualitative or secondary data and previous articles are extensively analyzed to reach appropriate results. The research also gives a brief over view of the banking industry in Pakistan and number of banks presently working in Pakistan and serving people. This report defines the type of economic slowdown Pakistan banking sector and other industrial sectors have faced and also defines the marketing challenges faced by the banking sector. Through complete survey and research it is concluded that the main reason of economic slowdown and overall slowdown of the banking sector is the global recession. Many people also think that govt. policies also play an important role in the overall reduced GDP of the country. This report also suggests some possible remedies and recommendations in order to successfully face the marketing challenges faced by the Banking sector in Pakistan.