Prime Bank Limited has aimed at becoming the market leader in the country's premium banking service with its newly launched product ‘Monarch’ by the next three years, officials said.
Monarch, a premium banking service of Prime Bank, was launched two week ago. The product is designed to manage the customers' wealth and enrich their life with exceptional privileges with a complete range of financial services tailored to different needs.
"We are already getting good responses from the customers. Our target is to be the market leader in this service within the next three years," Sharmin Ahmed, senior assistant vice president (SAVP) and head of Premium Banking of the Prime Bank Ltd, told the FE.
Four other banks including two local banks earlier brought such product under the retail banking in the market, she said.
She further said that there are around 3000 existing potential customers, who are eligible to be convertible into the Monarch clienteles. The bank's primary target is to double the number in three years.
The Monarch customers will be provided with one-roof banking services without any queue from exclusive lounges, dedicated only for such high-value customers to meet their all requirements, at the bank's branches.
"Perfection of location assures our premium customer in conducting business meetings, performing financial transaction and peaceful discussion on their financial needs."
Prime Bank, in the meantime, opened Monarch lounges at three branches - Bananai, Baridhara and Tejgaon-- and is likely to open two more lounges at Dhandimondi and Uttara.
In the next year, she said, the bank is considering to open four more such lounges-- two in Dhaka, one in Chittagong and another one in Sylhet.
The Monarch customers will also enjoy exclusive dual currency debit card with higher withdrawal limit, standardised free cheque book, free internet, SMS and mobile banking, discounted rate on retail loans, waiver of fees on various products and services, 50 per cent discount on safe deposit locker facilities and pre-approved platinum credit card.
Other services include the meet and greet privileges at Hazrat Shahjalal International Airport, flight reservation assistance for domestic and international travel, shopping discount at different outlets, special rates on room booking at selected hotels, discounts at salons/spas and health clubs, exclusive health packages at reputed international hospitals, travel benefits and special discount at antique luxuries jewellery stores.
Monarch customers' family members will also enjoy complimentary premium banking membership, access to premium banking lounges, reduced pricing on banking services.
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