514 Performance appraisal is very much essential for the HR managers to adopt administrative decisions regarding promotion, fringes, pay-offs, and merit pay increment of the employees. The article attempts to evaluate the existing performance appraisal system of Mercantile Bank Limited, one of the leading private commercial banks in Bangladesh. Efforts were made to reveal the problems and suggestions for the improvement of the performance appraisal system of the said bank. Both qualitative and quantitative techniques of gathering and interpreting data were applied. The key findings of the study suggest that there are some pragmatic gaps in the process of performance appraisal. The employees gave divided views on their satisfaction level about the performance appraisal procedure. The employees, in general, perceive the process of the appraisal system a tool of biased judgement for assessing their performances. The practical implication of the study is that it will facilitate the management of the bank to formulate time worthy performance appraisal policy so that the managers can conduct effective performance appraisal program ensuring satisfaction of the bank staffs. https://doi.org/10.24052/JBRMR/V13IS04/ART-28 https://www.staging.ijbed.org/details&cid=514 https://www.staging.ijbed.org/cdn/article_file/2019-07-03-15-11-25-PM.pdf Volume 13 Issue 04 38 2019-07-01 2019-07-03 Performance Appraisal Staff Effectiveness Satisfaction Bank 517983 72 0 Sheikh Abdur Rahim Associate Professor, Department of Business Administration, Faculty of Business and Entrepreneurship, Daffodil International University, Bangladesh Dr. Sheikh Mohammad Shafiul Islam Associate Professor, Department of Journalism and Mass Communication, Daffodil International University, Bangladesh