Analysis and Prioritizing Bank Account with TOPSIS Multiple-Criteria Decision - A Study of Refah Bank in Iran

Abstract

Purpose - The deregulation of financial services in the Refah Bank of Iran, aimed at the creation of a level-playing-field in the provision of banking services across the Iran. The plan was to establish new strategies in order to attract more investments. So prioritizing the different kinds of accounts is the purpose of this study. Design/methodology/approach - For prioritizing the different kinds of accounts in Refah Bank of Iran, objectives, alternatives and criteria established from literature review and interviews with Bank managers. Then weights designated. For solving this multi-criteria problem we used TOPSIS. Findings - From the research we can conclude that current account is the best kinds of account in point view of profitability, so Refah Bank in its marketing can invest on this account more. After that, 6-months specific short-term deposit has second ranking and so on. The interesting finding is that primary research of Bank which has done before shows that 6-months specific short-term deposit has third ranking and general short-term deposit account is second. So based on this ranking, Refah Bank of Iran can establish new marketing strategies. Research limitations/implications - This research is limited to Refah Bank of Iran.