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Electronic Banking and Its Impact on the Financial Performance of

Commercial Banks in Bangladesh: A Descriptive Analysis

Article in Research Journal of Finance and Accounting · April 2023

DOI: 10.7176/RJFA/14-7-02

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Research Journal of Finance and Accounting www.iiste.org
ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online)
Vol.14, No.7, 2023

Electronic Banking and Its Impact on the Financial Performance

of Commercial Banks in Bangladesh: A Descriptive Analysis
Farzana Amin Azmat Ullah *
Assistant Professor, Department of Business Administration, Port City International University, Bangladesh
* E-mail of the Corresponding Author: azmat.pstu@yahoo.com

Abstract
E-banking has significantly expanded in popularity and emerged as one of the most widely used banking systems
during the last few years. Information technology (IT) has become the heart of the banking sector, while the
banking industry is the heart of every robust economy. Through reducing banking costs, electronic banking can
increase bank incomes. However, there is a relative dearth of empirical studies examining the impact of e-
banking on the performance of banks. Though e-banking is gaining acceptance in Bangladesh, its impact on
bank performance has yet to be established. Using panel data from commercial banks, this study empirically
investigated the impact of e-banking on the performance of Bangladeshi banks measured in terms of net profit
and factors representing electronic banking. The empirical findings of this study are of greater significance for
developing countries like Bangladesh because they will invoke the attention of bank management and
policymakers to pursue such policies to expand e-banking. This study also contributes to the empirical literature
by confirming (or otherwise) the findings of previous studies.
Keywords: E-Banking, Financial Performance, Commercial Banks
JEL Classification: L86, M15
DOI: 10.7176/RJFA/14-7-02
Publication date: April 30th 2023

1. Introduction
The new era of modern banking has been introduced by the implementation and practice of e-banking. This
modern banking trend is increasing rapidly in Bangladesh. Even if you look twenty years back in the banking
sector, Services offered by banks were fully analogous. Handwritten forms were used back then. By introducing
technological advancement banks have developed a lot. Contingent upon the conveyance stations, e-banking can
be arranged in various gatherings for example, web banking, phone banking, cell phone or short message
administration (SMS) banking, Automated teller Machine (ATM) banking, and on the quick development of the
use of the web and the declining cost of Web transfer speed have arisen the web banking the most mainstream
and promising method of e-banking. These information technologies have made the e-commerce, e-business, and
financial services sector more and more important components of competitive corporate strategy and a powerful
engine for global economic growth. Among other mechanisms, e-banking is the most prominent and popular one
(Salehi, Alipour 2014).
Electronic banking ensures the electro technological use to add value in delivering banking services.
Internet technology embraces the latent to fundamental modification in the banking industry. Electronic banking
delivers alternatives for quicker delivery of banking facilities to a huge range of customers. Electronic banking
delivers services remotely. Any individual can perform his personal banking activities remotely by getting access
to bank websites through the internet. Internet banking is an effective tool for business development around the
world, along with this work as a smart way of delivering functional services of banks. Bangladeshi banks have
also taken electronic banking extremely for the betterment of user experience and banks own development.
The increasing capacity of banking systems, business capacities, client administrations and other substitute
exercises (Siaw and Yu, 2004). Truth be told, innovative upset and ICT have wide and sweeping impact on the
economy on the loose. In understanding Howcroft and Durkin (2003), perhaps the most basic execution of
mechanical advancement in the financial area is to make far off clients come nearer and simplicity of
Administration. Rihan (2002) defined that, Mechanical advancement plays a crucial role in achieving
competence and enhancing client assistance in the banking sector. In Bangladesh, innovation driven banking has
begun another time for the banking and monetary assistance area. Driving modern social orders perceive the
significance of data as critical to their financial wellbeing and to worldwide rivalry (Hanna, Nagy K, 1991).

Research Objectives
There is a noteworthy gap in literature on adoption of E banking services and its influence on financial
performance of scheduled banks in Bangladesh. Therefore, following are the objectives of the research: -
i) To know the current scenario of electronic banking in banking industry
ii) To what level people of Bangladesh use electronic banking modes.
iii) To clarify the relationship between financial performance and electronic banking of commercial banks’ in

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Bangladesh

2. Literature Review
2.1. Banking Sector in Bangladesh
Currently, banking has been so crucial to our society. The nation is currently a progressive one. Banking service
plays a vital role in the economic growth of Bangladesh. Banking sector is considered as a barometer of its
economic status. The banking sector thinks that by implementing new technologies, banks would be able to
enhance customer service and forge stronger bonds with their clients. In Bangladesh, Nationalized Commercial
Banks (NCBs) were established in 1972. Six nationalized commercial banks (NCBs) dominated the financial
sector in the early years after independence. The banking system's organizational structure has undergone major
alteration since the post-reform era. Ali (2003) described that nowadays, the traditional banking business system
of the country through depositing and advancing of money has almost ended. The banking system must be
segmented in order for banks to offer a wide range of financial services. Data innovation assumes an
empowering part in creating and appropriating valuable data. In spite of the fact that bearing and keeping up data
innovation assets and framework for the creating economies are not as simple as the created economies but
rather the non-industrial country needs to acknowledge it and oblige it as the entire world is slowly changing into
a solitary commercial center. So to stay in the market ventures need to pick up upper hands paying little mind to
the monetary status of the country. Meanwhile, the banking industry has been also looking for new methods to
expand its customer base and to counteract the aggressive marketing effort of those non-traditional banking
entities (Graven, 2000). Revolution in information and technological innovations and its use in banking activities
have led credence to transformation of manual system banking operations to technology based banking all over
the world and in recent years information and communication technology (ICT) have been recognized as the
heart of banking sector while for a robust economy banking sector is playing a significant role (Abubakar,
Tasmin 2012). Finally, the banking sector as well as the e-banking sector plays a crucial role for economic
growth of the country and contributes to customer satisfaction by providing smooth and convenient banking
service.

2.2. Adaptation of Electronic Banking Services

Al-Amin and Rahman (2010) defined that through the use of a personal computer or other intelligent devices,
clients can access their accounts and obtain information about new products and services offered by banks using
a process known as "e-banking."They also mentioned that although there are some electronic products and
services being offered by the banks, true e-banking system is yet to be developed. Existing form of e-banking in
Bangladesh takes mainly internet banking, online banking and mobile banking. The banking sector thinks that by
implementing new technologies, banks would be able to enhance customer service and forge stronger bonds with
their clients. (Hasan, Baten, Kamil & Parveen, 2010). Bangladesh is transitioning from traditional banking
systems to electronic banking systems in order to improve banking performance and to attract more customers. It
is believed that e-banking will help banks to cut costs, increase revenue, and become more convenient for
customers (Halperin 2001). A more efficient information collecting and administration process is a significant
advantage of electronic banking. In the last few years a number of private and public sector banks are adopting a
high level of technology and electronic banking system (Hasan et al. 2010). Kondabagil (2007) opined that the
decision to implement e-banking is influenced by a variety of factors, including competitive costs, customer
retention, and enhanced overall performance of the banks.
Approachability: The articulation "receptiveness" in electronic banking elucidates the limit of customers to get
to evidence and organizations. All are truly joined together; hardware, programming and settings; web
affiliations; similarly as the limits and failures of customers (Hackett and Parmanto, 2009). Approachability
toward the monetary assistance, ATMs, point of sale, mobile, and the web banking organization assure better
benefit of the clients.
Solace: Electronic banking proposes a more huge degree of reasonableness to make the customers use web
banking wherever at whatever point (Gerrard and Cunningham, 2003).
Security: Clients want to secure their money related and singular data, this issue is measured as
conceivably the basic part for online banking (Kimery and McCord, 2002).

2.3. Electronic Banking and Banks Financial Performance

Yousafzai, S.Y., Pallister, J.G. and Foxall, G.R., 2005, accessibility is defined as the ease with which individuals
can locate specific computer systems (such as Online Banking services). User perceptions of accessibility have
been found to be related to technology and information use in both organizational communications and
information systems research (Chandio, 2011). Accessibility has a number of dimensions such as the access to
and interface with the source, and the capability of physically retrieving important information.
Examining the relationship between innovative technology usage and bank profitability from Bangladesh’s

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Vol.14, No.7, 2023

perspective and concluded with positive remarks on the relationship (Rahman, 2007). It means that the positive
impact of electronic banking on banks’ performance. A significant positive relationship between e-banking
adoption-utilization and bank profitability was also found in the study of Karimzadeh et al. (2014). Using
technology in various organizational contexts, the banking sector also adapted and utilized electronic tools to
conduct banking operations. The increasing technology usage trend in the banking sector and the effects of e-
banking on banks’ financial performance has widely been examined (Siddik et al., 2016; Akhisar et al., 2015).
Aduda and Kingoo (2012) added credibility to the findings of DeYoung et al. (2007) by establishing a positive
association between electronic banking operations and banks’ financial performance. According to actual data,
many outcomes can be derived from various viewpoints and national contexts. Researchers from different
nations have compiled a variety of effects, such as the positive, negative, and mixed effects of e-banking on a
bank's financial performance.

3. Research Methodology
3.1. Research Approach
The report is mainly based on quantitative research techniques where statistical techniques have been used for
conducting this study. Questionnaire has also been used for conducting a survey to identify the current scenario
of electronic banking and users of it. Outcome analysis from the survey report has been described in the report.
The regression analysis Regression analysis has been performed to examine the model and to determine if there
is any significant impact of banking on financial performance of banks.

3.2. Sample Selection

For statistical analysis, the population of this study is the private commercial banks that use electronic banking
modes. Data has been fetched through the Website of Bangladesh Bank. Here our target population is the clients
of e-banking. As our study is based on e-banking, for our expediency, we have randomly chosen the individuals
who use e-banking as our target population. Here, by consumers of e-banking we mean individuals who use any
of the e-banking services, that is, ATM card, Debit card, Credit card, Online banking, Phone banking, SMS
banking and Mobile banking. Each individual consuming the e-banking service is considered as a unit of
analysis to identify user of e-banking.

3.3. Data Analysis Techniques

The SPSS software version 21 has been utilized for statistical analysis. The data analysis and research findings
on the effect of electronic banking on the financial performance of commercial banks in Bangladesh and
includes research variables, descriptive statistics and regression analysis. A demographic profile is understood
through the use of descriptive statistical methods like mean, frequency, and valid percentage. Descriptive
Statistics and Multicollinearity was used to determine the significance relationship between electronic banking
on the financial performance of commercial banks in Bangladesh in order to provide answers to research
enquiries.

4. Data Analysis and Interpretation

4.1. Respondents Demographic (Identifying Respondents of Bangladesh Use Electronic Banking Modes)
Table 01: Age Category of the Respondents
Age Category(in year) Frequency Percent Valid Percent Cumulative
Percent
20 to 25 33 16.5 16.5 16.5
25 to 30 79 39.5 39.5 56.0
30 to 40 61 30.5 30.5 86.5
40 to 50 21 10.5 10.5 96.5
Above 50 6 3 3 100
Total 200 100 100
From the above table shown that 16.5% of respondents are aged between 20 to 25 years, 39.5% of them are
aged between 25 to 30 years, 30.5% of them are aged between 30 to 40 years, 10.5% of them are aged between
40 to 50 years and remaining of them are aged above 50. So, maximum respondents lie within 25 to 30 years.
Table 02: Gender of the Respondents
Gender Frequency Percent Valid Percent Cumulative
Percent
Male 129 64.5 64.5 64.5
Female 71 35.5 35.5 100
Total 200 100 100

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From the above table accomplished that 64.5% of the respondents are male and the remaining is female
which implies that males are more involved in-banking than females.
Table 03: Occupation of the Respondents
Occupation Frequency Percent Valid Percent Cumulative Percent
Government Service 20 10 10 10
Private Service 77 38.5 38.5 48.5
Business 14 7 7 55.5
Student 65 32.5 32.5 88.0
Housewife 4 2 2 90.0
Others 20 10 10 100
Total 200 100 100
Here in this table interpreted that occupation of our respondents of which 38.5% are served in the Private
sector, 32.5% are students, 10% served in the government sector, 7% of them are in business, 2% are housewives
and the remaining of them are included in other occupations. So, it is apparent that most of our respondents are
in the private sector.
Table 04: Respondent’s Income Level
Income Level Frequency Percent Valid Percent Cumulative
Percent
No Income 37 18.5 18.5 18.5
Less than 15000 29 14.5 14.5 33.0
15000-30000 56 28.0 28.0 61.0
30001-45000 38 19.0 19.0 80.0
45001-60000 14 7.0 7.0 87.0
Above 60000 26 13.0 13.0 100
Total 200 100 100
From the above table revealed that people of all income levels use e-banking with a reasonable percentage.
The people with income level Tk. 15000-30000 use e-banking more (28.0%) than others. It is obvious that a
good percentage (18.5%) of people with no income are also using e-banking. This is because students staying
away from home with no income are using e-banking as an intermediary of money transactions from their home.
Table 05: Bank Accounts in Different Banks
Bank Name Frequency Percentage
DBBL 142 31.91
SCB 46 10.34
HSBC 45 10..11
BRAC Bank 42 9.44
EBL 22 4.94
Govt. Bank 40 8.99
Other Bank 108 24.27
Total 445 100
From the above table disclosed that 31.91% accounts of our respondents are in Dutch Bangla Bank Limited
(DBBL), 10.34% in Standard Chartered Bank, 10.11% in HSBC, 9.44% in BRAC Bank and 4.94% in Eastern
Bank. Government bank accounts are 8.99%.Other bank accounts are in Prime bank, City Bank, Islami Bank,
Mutual Trust Bank etc which are 24.27% of the total accounts. So it is clear that respondents are using DBBL
accounts more for E-banking than any other bank accounts. This may happen because of the availability and
reasonability of DBBL.
Table 06: Debit Card Users
Use of Debit Card Frequency Percent Valid Percent Cumulative
Percent
No 23 11.5 11.5 11.5
Yes 177 88.5 88.5 100
Total 200 100 100
A huge percentage (88.5%) of the total e-banking users used Debit cards. It seems that most e-banking users
are highly dependent on the Debit card for their financial transactions or banking. It is possible for the users
because Debit cards facility meet all the needs of the consumers.

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Table 07: Debit Card Users

Usage Frequency Frequency Percentage Valid Cumulative
Percentage Percent
Daily 18 9.0 9.0 9.0
Once a Week 41 20.5 20.5 29.5
Twice or more in a week 68 34.0 34.0 63.5
Once a month 31 15.5 15.5 79.0
Twice or more in a month 39 19.5 19.5 98.5
Once in 6 months 2 1.0 1.0 99.5
Once a year 1 0.5 0.5 100
Total 200 100 100
From the above table, it is clear that most of the respondents (34%) use Debit cards more than once a week.
The second-highest percentage (20%) belongs to those respondents who use a Debit card once a week. This
proves consumers use Debit cards on a regular basis. They use Debit cards for most of their banking transactions
in their day-to-day lives.
Table 08: Debit Card Transactions
Transactions Withdrawal Balance Make Transferring Deposit
Inquiries payment Fund
Freq. % Freq. % Freq. % Freq. % Freq. %
Never 13 6.5 9 4.5 16 8.0 112 56.0 92 46.0
Rarely 25 12.5 29 14.5 41 20.5 46 23.0 39 19.5
Sometimes 53 26.5 91 45.5 51 25.5 23 11.5 52 26.0
Frequently 109 54.5 71 35.5 92 46.0 19 9.5 17 8.5
Total 200 100 200 100 200 100 200 100 200 100
The most frequently done transaction is the withdrawal of cash through an ATM card. A big proportion of
ATM users (leaving some people as exceptions) either frequently (109) or sometimes (53) withdraw cash. Only
13 respondents out of all Debit card users have never withdrawn cash. The transactions that most of the
respondents sometimes do are payments and balance inquiries. Another big proportion says they also do it
frequently. But the transactions that people usually never make are transferring funds and making deposits.
Table 09: Users of Internet Banking Apps
Use Internet Banking App Frequency Percent Valid Percent Cumulative Percent
No 54 27.0 27.0 27.0
Yes 146 73.0 73.0 100
Total 200 100 100
Nowadays, internet banking apps are popular and easy to use. People use those apps mostly for making
payments and day-to-day transactions. Almost more than 73% of respondents use internet banking apps.
Table 10: ATM Booths and Internet Banking Apps Users
Opinion Frequency Percent Valid Percent Cumulative Percent
Never 19 9.5 9.5 9.5
Rarely 40 20.0 20.0 29.5
Sometimes 105 52.5 52.5 82.0
Frequently 36 18.0 18.0 100
Total 200 100 100
According to the above table, the majority of respondents (52.5%) use ATM Booths and Internet Banking
Apps occasionally, 18.0% frequently use ATM Booths and Internet Banking Apps, and 9.5% never use Internet
Banking Apps and ATM Booths.
Table 11: Forgetting Secret Code (password)
Opinion Frequency Percent Valid Percent Cumulative Percent
Never 136 68.0 68.0 68.0
Rarely 45 22.5 22.5 90.5
Sometimes 14 7.0 7.0 97.5
Frequently 5 2.5 2.5 100
Total 200 100 100
People seem to be very cautious about remembering their respective secret codes. From the above table, it is
clear that a huge percentage (68.0%) of the respondents have never forgotten the secret code. Although some
people (14%) have admitted that they forget the code sometimes, frequently forgetting the code (5%) is not a

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Vol.14, No.7, 2023

usual thing to happen.

Table 12: E-banking Users’ Satisfaction Level
Satisfaction level Frequency Percent Valid Percent Cumulative Percent
Low 25 12.5 12.5 12.5
Medium 124 62.0 62.0 74.5
High 51 25.5 25.5 100
Total 200 100 100
From the above table, it is seen that 62.0% of respondents are at a medium satisfaction level, 25.5% are at a
high satisfaction level, and 12.5% are at a low satisfaction level. So, it is evident that the maximum respondent’s
satisfaction levels for e-banking users come from different mediums.

4.3. Analysis for the Factors Affecting Profitability by Electronic Banking

Multicollinearity and descriptive statistics helped estimate how electronic banking affects the financial
performance of commercial banks. Here, the study chooses net profit as a dependent variable on four
independent variables related to the electronic banking system.
Table 13: Descriptive Statistics
Name ATM POS MFS E-Money
Transfer
Mean 4.435 0.833 450.33 513.15
Standard Error 0.2391 0.0703 18.075 20.525
Max. Value 7.290 1.650 652.354 652.354
Min. Value 0.321 0.012 151.034 251.524
Observation 60 60 60 60
The above table shows the Mean, Standard Error, Maximum Value, and Minimum Value of 4 independent
variables. The highest mean and standard error is for transactions through E-Money transfer, lowest one is from
POS. The total number of observations is 60.
Table 14: Multicollinearity
Particulars ATM POS MFS E-Money
Transfer
ATM 1
POS 0.8984 1
MFS 0.9550 0.9203 1
E-Money Transfer 0.9732 0.9282 0.99025 1

The above table shows the correlation among 4 independent variables. The correlations among the variables
are very high (above 85%). The highest correlation is between MFS and e-money transfers. The correlation
between ATM and e-money transfers is also high. The multicollinearity revealed that there is a highly positive
correlation among the variables.

5. Recommendation and Conclusion

The study mentions the need for banks that are slow in modernization adoption to transfer in and accept various
innovations in their processes in order to coast up their profitability. This reference is well supported by the fact
that in Bangladesh, the foremost banks in terms of profitability are mostly the fast movers in the adoption of new
technologies. Profitability is also vital to shareholders, and the market is also intensely focused on the
profitability of organizations. Any moral and responsible attempt to improve the profitability of a company will
be appreciated by the shareholders. Commercial banks should therefore continue to adopt new technologies that
will improve their limits and hence their profitability in order to attract more investors. The adaptation of more
ATM banking activities can enhance the financial performance of banks. Government policymakers should also
appraise policies related to the promotion of innovation, adoption, and transfer of technology. The government
should encourage the adoption of innovations that will improve the profitability of organizations because this
will result in higher tax revenues for the government.
The study results show that electronic banking has a moderate influence on the profitability of commercial
banks in Bangladesh. The significant test showed that the influence of electronic banking on bank profitability
was statistically significant. This means that the combined effect of electronic banking in this research is
statistically significant in explaining the profits of commercial banks. However, the statistical significance is
different for each electronic banking component tested, and therefore, if banks are to make a meaningful
contribution to profits, they should adopt complex forms of electronic banking. The results also indicate that E-
banking has strong and significant marginal effects on the profitability of commercial banks in Bangladesh. Thus,

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Vol.14, No.7, 2023

there exists a positive relationship between e-banking and bank performance.

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