IMPORTANCE OF EMOTIONAL INTELLIGENCE AND LEADERSHIP STYLES IN PRIVATE BANKS: A STUDY OF YANGON REGION IN MYANMAR

Purpose- This study explores the significance of emotional intelligence and various leadership styles for effective management, emphasizing their role in fostering a positive work environment and enhancing organizational success. This study is aimed to achieve two objectives. The first one is to describe the most adopted leadership style of managers in private banks and the second one is to explore the relationship between emotional intelligence and leadership styles of managers in private banks. Methodology- A sample of 130 managers is selected as respondents from five chosen private banks in Myanmar. In this study, a two-stage random sampling method is used. Five private banks are randomly picked from a pool of 27 private banks, and 26 managers or higher staff members from each bank are also randomly selected. A systematic questionnaire is used to gather data from 130 carefully chosen respondents in total. Findings- The results showed that the majority of managers adopted transformational leadership style and followed by participative and situational leadership. Transactional leadership style was applied as a least adopted styles by managers. Moreover, the positive correlation exists between all emotional intelligence dimensions and leadership styles and among them, the relationship between all emotional intelligence dimensions and transformational leadership styles is the most positively significant. Conclusion- Thus, banking institutions should prioritize emotional intelligence training as a core component of their leadership development programs. By focusing on both technical and emotional intelligence, banks can build a more resilient and adaptable leadership pipeline capable of navigating the challenges of the financial sector. Additionally, emphasizing emotional intelligence in leadership can lead to a more engaged, innovative, and productive workforce, ultimately contributing to improved organizational performance and competitive advantage in the banking industry. Keywords: Emotional ıntelligence, transformational leadership, transactional leadership, situational leadership, participative leadership JEL Codes: D23, G21, M12