WELCOME

DEPARTMENT OF ACCOUNTING

& FINANCE

Name: Ahmed, Tanvir

Id: 10-17604-3

Topic Name

General Banking System of

Uttara Bank Limited

Introduction

• Uttara Bank-one of the largest and oldest private-

sector commercial bank in Bangladesh, with years of

experience. Adaptation of modern technology both in

terms of equipment and banking practice ensures

efficient service to clients. 220 branches at home and

600 affiliates worldwide create efficient networking

and reach capability. Uttara is a bank that serves both

clients and country.

Objectives of UBL

• Mobilize deposit from the surplus economic unit to deficit

economic unit.

• Cater to all different segments of retail and wholesale

customer.

• Be a high quality distributor of products and services.

• Serve the people of the country by providing financial

assistance.

• Help the nation in reducing the employment problem by

securing services to a large number of people.

• Ensure balanced economic development throughout the

country.

Goals of UBL

• Empowering the family of the poor by creating

income opportunities as well as strengthening the

family of the rich for a better future generation.

• Achieving sustainable participatory economy, Social

Security, and peace for a society.

Vision of UBL

• To be the best private commercial bank in Bangladesh in terms of

efficiency, assets competence, asset quality, sound management and

profitability having strong liquidity.

• Uttara Bank will be unique organization in Bangladesh. It will be a

knowledge-based organization where the Uttara Bank professionals

will learn continuously from their customers and colleagues

worldwide to add value.

• Uttara Bank Ltd. will serve its customers with respect and will work

very hard to inspire a strong customer service culture throughout the

bank. It will treat its employees with dignity and will build a

company of highly qualified professionals who have integrity and

believe in the Bank’s vision and who are committed to its success.

Mission of UBL

• The bank looks forward with excitement and a commitment to bring greater benefits to customers.

• Uttara Bank Limited provides high quality financial services to strengthen the well-being and success of individual, industries and business communities.

• Its aim to ensure their competitive advantages by upgrading banking technology and information system.

• UBL intends to play more important role in t2he economic development of Bangladesh and its financial relations with the west of the world by interlinking both modernistic and international operations.

• The bank creates wealth for the shareholders.

General Banking

Financial institution/intermediary that mediates or stands between

ultimate borrowers and ultimate lenders is knows as banking

financial institution.

Banks perform this function in two ways- taking deposits from

various areas in different forms and lending that accumulated

amount of money to the potential investors in other different forms.

General Banking is the starting point of all the banking operating.

General Banking department aids in taking deposits and

simultaneously provides some ancillaries services.

It opens new accounts, demit funds, issue bank drafts and pay orders

etc. since bank in confined to provide the service everyday general

banking is also known as retail banking.

Functions of General Banking

• Establishment of banker-customer relationship.

• Remitting customer’s money from one place to

another.

• Collecting bills for customers.

• Taking deposits and honoring cheques drawn over

local office.

Different part of General Banking

• Account Opening Section

• Cash and Computer Section

• Remittance Section

• Bills Section

• Clearing Section

• FDR & BCD section

Account Opening

• Banking business is very much correlated with

banker customer relationship.

• customer one person must have some sort of banking

relationship with the bank.

• Account opening section establishes that relationship

by opening a new account for the customer.

• Uttara Bank Ltd. allows its clients to open the

following types of accounts and receives deposits in

those accounts.

Types of Accounts

Current Deposit

Savings Bank Deposit

Fixed Deposit

Special Notice Deposit

Double Benefit Deposit Scheme

Monthly Deposit Scheme

Nature of the Accounts

Individual Accounts

Joint Accounts

Proprietorship Firm Accounts

Partnership Concerns Accounts

Private Limited Companies Accounts

Public Limited Companies Accounts

Accounts of Societies, Clubs, Association etc

Trust Accounts

Transfer of Account to other Branch

o Reasons for transferring the account.

o Address at which he/she is to be contacted by the

transferee branch.

o The unutilized check book must be returned to the

transferring branch before transfer of account.

Closing of an Account

• To close an account, one may be requested to send an

application along with the unused pages of the check

book that is issued to the person. After receiving the

application, the signature of the account holder

should be verified and the number of unused pages of

the check book should be noted. Before the account is

closed the manager will approve the application.

Lastly closing charge should be debited to the

account.

Checks

• A check is a very important document. Cheque is an

instrument in printed form containing an

unconditional order, signed by the account holder

directing a certain person to pay certain amount of

money only to or to the order of a certain person or to

the barer of the instrument. A check is always

supposed to be drawn against the funds in the

person’s account in the bank.

Remittance

Demand Draft (D.D.)

Telegraphic Transfer (T.T.)

Pay Order (P.O.)

There are some frequent

situations, such as

customer of a bank needs

to transfer his/her fund or

money to somewhere

within the country

boundary. It is really a

risky thing to carry a big

amount of money from one

place to another. So most

of the time they just

purchase an instrument or

mean, so that their fund can

be transferred through

his/her own bank. This sort

of activities is cubed under

the Inland Remittance.

These are:

Cash Section

Receiving cash

Paying Cash

Issuing Vouchers

Keeping records

Clearing

• When a customer of UBL presents an instrument drawn on other bank for collection, the instrument is collected through clearing house of Bangladesh Bank. Every day two houses are arranged in Bangladesh Bank. One in the evening and another in the morning. The evening house is known as return house. Every day the instruments that are drawn goes to the officer of the clearing section. He/she enters bank name, branch name, number and the amount through a software named “Nikash22” in the main schedule of banks. Then the officer makes a copy of it and goes to the clearing house of Bangladesh Bank. Bangladesh Bank officials take the copy. Then they set off the claims of UBL on other banks.

Findings of the Study

• The main limitation of this report is Bank’s policy of not disclosing some data and information for confidential reason, which could be very much useful for the report. If I know the actual gap then I can be a threat for them.

• Time period of twelve weeks was too limited to get practical experience. Actually it is a work of practical. I didn’t get enough time to learn their lessons. And it is not enough to evaluate them in a short term period.

• As an intern of I have to work in different departments of the branch & during the twelve week period of internship I worked in clearing department only for 1 week. That is the problem of it. How could I know perfectly if I worked in that sector for 1 week? That’s problem of intern student.

Recommendation

• The success of a bank depends on improved service

delivery to its customers. Now so many banks in the

country have emerged to cater to the needs of the

customers. But till now most of the bank in

Bangladesh is using conventional banking system.

UBL is not exception to this trend. So, there are many

areas to improve.

Conclusion

• As an organization the Uttara Bank Limited has earned the reputation of top listed banks operating in Bangladesh. The organization is much more structured compared to any other listed bank operating in Bangladesh. It is relentless in pursuit of business innovation and improvement. It has a reputation as a leader in financing manufacturing sector.

• With a bulk of qualified and experienced human resource, Uttara Bank Limited can exploit any opportunity in the banking sector. It is pioneer in introducing many new products and services in the banking sector of the country. Moreover, in the retail-banking sector, it is unmatched with any other listed banks because of its wide spread branch networking thought the country.

THANK YOU