Branding future of banking

When most people in Bangladesh think about banking, they picture the basics - opening an account, depositing or withdrawing cash, applying for loans and completing other branch-level services. Since independence in 1971, however, the banking sector has undergone significant reforms and is now seeing the rise of fourth-generation banks. Yet, despite these new entrants, many banks continue to offer largely similar products and services, raising questions about how much real difference this competition brings to the market.
Modern academic thinking increasingly compares banking to retail trade, where the relationship between buyer and seller often translates into aggressive business targets and healthy competition. While more people are engaging with banks and showing interest in new products, the industry faces growing challenges. Competition has intensified, profitability has become harder to sustain, and customer satisfaction is showing signs of decline.
Against this backdrop, branding has emerged as a critical tool for banks to differentiate themselves. Strong marketing strategies can enhance performance, strengthen competitiveness and build long-term trust with customers. Scholars argue that brand building in the banking sector must go beyond corporate social responsibility alone. Instead, banks should adopt stakeholder-focused approaches that balance the interests of customers, employees, regulators, and the wider community to ensure long-term growth and stability.
Branding today is much more than logos or slogans. It must also reflect Bangladesh's cultural and religious context. The introduction of Islamic banking services by nearly all major commercial banks is one example of rebranding that resonates strongly with customer values. To succeed, banks must go further building awareness, fostering loyalty, strengthening associations and ensuring that reputations remain strong.
Equally important are internal measures such as whistle-blowing systems and stricter controls to safeguard trust, prevent crises and ensure transparency. These efforts, combined with customer-centric branding, can help Bangladeshi banks bridge the gap between routine transactions and long-term trust, paving the way for a more sustainable and competitive financial sector.
Rashidul Islam Khan
MBA, M.Sc., M.Sc.
Ph.D. Candidate, Department of Management
Asia Pacific University of Technology and Innovation (APU, Malaysia)
rashidul.dhk@gmail.com