Most widely accepted classification of Customer Relationship Management (CRM) systems includes operational, analytical, collaborative and e-CRM. While operational, collaborative, and e-CRM has received a significant interest among practitioners and scholars, but analytical CRM has been mostly neglected by them. The major function of analytical CRM is to support strategic customer information provision and customer knowledge acquisition to help achieve the final goal of CRM which is to enhance customer profitability. Customer profitability is the difference between revenue and costs. The main objective of the thesis is to investigate the role of analytical CRM in maximizing customer profitability. In order to accomplish the objective of this thesis, a qualitative research approach was se-lected and a multiple-case study was conducted which consisted of two cases. The cases com-prised two leading banks with large market share in private banking in Sweden. The primary data were collected via in-depth interviews with banks’ managers employing the interview guide. The analytical CRM system had been implemented and actively utilized by both banks. The main finding shows that identical analytical tools, segmentation and profiling approaches were used by both banks: albeit minor discrepancies were observed due to the decentralized branch banking approaches taken by one of the banks. The Internet was found to assist collec-tion of more precise data, to increase the analytical ability and to create faster degrees of per-formance. The results also indicate that customer profitability was highly considered by both banks and tactical measures were exercised to augment the customer profitability, particularly among the core customers, with providing them extra and personalized services at no charge and acknowledging the staffs of the vital importance of this segment of customers to the profit of the banks.