49158690 Askari Bank Report Original

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Transcript of 49158690 Askari Bank Report Original

Internship Report of Askari Bank Ltd.

INTERNSHIP REPORT ON ASKARI COMMERCIAL BANK LIMITED

Syeda Mariam Nida

Submitted in partial fulfillment of the requirements for the degree of Master / Bachelor of Business Administration At National University of Modern Languages Islamabad, Pakistan June 2010

Copyright by Syeda Mariam Nida, 2010NUML Page 1

Internship Report of Askari Bank Ltd.

DEDICATION"I owe immense sense of gratitude to my beloved Parents & family members who not only support me financially throughout my career and also gave confidence to me. I also dedicate the project to my teachers and friends who remained the source of encouragement throughout. At the last very humbly raising my hands to pray for success in world, good health and long life of my parents and teachers whose encouragement and prayers enable me to complete my studies".

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Internship Report of Askari Bank Ltd.

ACKNOWLEDGEMENTBy the Grace of Almighty Allah, the most Merciful, the most Beneficial, I'm today submitting my internship report; I have the pearls of my eyes to admire the blessings of the compassionate, omnipotent, the Merciful and the beneficent Allah who is the entire source of knowledge and wisdom. Further more, I would like to acknowledge the help on this as well as many other writing projects over the years that I received from my teachers who taught me over the whole of my course in this university. Second, 1 want to give special thanks to two of my teachers who specially helped me in making this project i-e Madam Hina Shahab. Next, I would like to acknowledge the interaction that I have had with my colleagues, Sir Abid, Sir Sajjad Haider, Sir Rizwan Malik, Miss Uzma, Sir Aftab Iqbal, and Sir Tahir Jamil during my internship in the Askari Commercial Bank (G.T Road Branch, Kharian.) and helped me to learn a lot. In particular I would like to acknowledge the total support and standards of excellence provided by my teachers and long time Management Sciences staff. I can never forget the education, encouragement, and scholarly values that I received from all the teachers when starting out in my academic career. Over the course, I would have been very lucky to have been associated with excellent management students; I would like to thank them all for teaching me as much as I have learned from them.

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Internship Report of Askari Bank Ltd. EXECUTIVE SUMMARYThe banking structure in Pakistan comprises of the following types. State Bank of Pakistan, Commercial Bank of Pakistan; Exchange Banks, Saving banks, Cooperative banks, specialized , credit institutions. The state bank of Pakistan is the Central bank of the country and was established on July 01, 1948. The network of bank branches now covers a very large segment of national economy. The State Bank of Pakistan issues the shares of these periodically. Bank employees and other common peoples can also purchase these shares and earn profit. This internship report is based on the job, which I did in Askari Commercial Bank as Internee in the Different departments from June 9th 2008 to July 26th 2008. In remittance department like any other bank NBP also have instruments for transferring of money, Telegraphic Transfer, Mail Transfer, cash department both deposits and withdrawals go side by side. This department works under the accounts department and deals with cash deposits and payments. This department maintains the following sheets, books, and ledger of account cash received voucher sheet. Cash paid voucher sheet, Paying-in-slip, Cheque Book, Cash balance book. Bank provides this facility to the people who need advance money to meet their requirement. Party dealing with other banks financial condition of borrower business and as a first step credit proposal is being made. Demand Finance, Cash Finance, Foreign bills purchased. Finance against imported goods, Finance against foreign bills, Export Refinance Part I (Pre Shipment) & others. In foreign exchange, ACBL is dealing Foreign Currency Accounts, Foreign Remittances, and Foreign Bills for Collection, Imports & Exports. Letter of credit facility is being provided by ACBL in foreign exchange.NUML Page 4

Internship Report of Askari Bank Ltd.SWOT & PEST Analysis prepared primarily for decision-making. They play a dominant role in setting the framework of managerial decisions.

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Internship Report of Askari Bank Ltd.

TABLE OF CONTENTSTitle page Approval Page Dedication Acknowledgement Executive Summary Table of Contents Chapter-1 Introduction 1.1 Definition and purpose of Bank 1.2 History of Askari Commercial Bank 1.3 Vision statement 1.4 Mission Statement 1.5 Goals of Askari Commercial Bank 1.6 Objectives of Askari Commercial Bank 11 1.7 Organization Structure 1.8 Level of Customer service, Rating & Achievements 12 Chapter-2 Product & Services of Askari Commercial Bank 2.1 Products 2.1.1 Deposits 2.1.1 (a) Local currency deposits 2.1.2 Advances 2.3 16 2.3.1 16NUML Page 6

09 09 10 10 11

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15 15 15 16 Products Ask card

Internship Report of Askari Bank Ltd.2.3.2 16 2.3.3 17 2.3.4 17 2.3.5 18 2.4 Services 2.4.1 Foreign Remittances 2.4.2 Telegraphic Transfer 2.4.3 Demand draft & Pay Order 2.4.4 Mail Transfer 2.4.5 Bank Draft 2.4.6 Letter of Credit 2.4.7 Askari Commercial Bank ATM Chapter - 3 Departmentalization 3.1 Cash Department 3.2 Clearing Department 3.3 Advances Department 3.4 Foreign Exchange Department 3.5 Deposit Department Chapter No-4 ACBL SWOT Analysis 4,1 Strengths 4.2 Weaknesses 4.3 Opportunities 4.4 Threats Chapter-5 PEST Analysis of ACBL 5.1 Political & Legal Environment 5.2 Economic TrendsNUML Page 7

Ask Ask Askari Askari Smart Master Traveler's

power Cash Card Cheques 18 18 19 19 19 20 20 20

24 26 27 28 30 35 36 36 37 40 41

Internship Report of Askari Bank Ltd.5.3 Socio Cultural Environment 5.4 Technological efforts Chapter-6 Human Resource Analysis of ACBL 6.1 Recruitment and Selection 6.2 Training and Development 6.3 Performance and Evaluation 6.4 Compensation 45 46 47 48 41 42

Chapter 7 Internship Experience 7. Introduction 1st week 2nd week 3rd week 4th week 5th week 6th week Experience and Learning 7.1 Worked In Different Department 52 Dynamic and Advanced Approach Customer Orientations and Personalized Service 52 Professional Style of Management Healthy, Competitive Working Environment 53 Modern Banking Policies 7.2 Negative Dimensions of Experience and Learning Chapter-8 Conclusion and Recommendation 8.1 RecommendationsNUML Page 8

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52

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Internship Report of Askari Bank Ltd.8.2 Conclusion 8.3 References 57 59

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Internship Report of Askari Bank Ltd.

CHAPTER 1 ORGANIZATION OVERVIEW

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Internship Report of Askari Bank Ltd.

Introduction of Askari Commercial Bank Limited- ACBL 1.1 Definition and purpose of Banks Banking is the business of providing financial services to consumers and businesses. The basic services a bank provides are checking accounts, which can be used like money to make payments and purchase goods and services; savings accounts and time deposits that can be used to save money for future use; loans that consumers and businesses can use to purchase goods and services; and basic cash management services such as check cashing and foreign currency exchange. A broader definition of a bank is "Any financial institution that receives, collects, transfers, pays, exchanges, lends, invests, or safeguards money for its customers." Banking services serve two primary purposes: First, by supplying customers with the basic mediums-of-exchange (cash, checking accounts, and credit cards), banks play a key role in the way goods and services are purchased. Without these familiar methods of payment, goods could only be exchanged by barter, which is extremely timeconsuming and inefficient. Second, by accepting money deposits from savers and then lending the money to borrowers, banks encourage the flow of money to productive use and investments. This in turn allows the economy to grow by letting people to purchase cars or houses, and businesses to expand and build the new factories that the economy needs in order to produce more goods and services. Enabling the flow of money from savers to investors is called financial intermediation and this is what banks are established for. 1.2 History of Askari Commercial Bank The banking sector has witnessed a dramatic change during the last ten years with the

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Internship Report of Askari Bank Ltd.development ofAskari Bank, which is not only redefining priorities and focus of the banks, but also threatening the domination of traditional players. Askari Bank Limited (ACBL) works as a Unit of Army Welfare Trust was established for the Welfare of Army Officials. The office of Army Welfare Trust is situated at AWT Plaza, Rawalpindi. AWT offers the "AWT Saving Scheme" to the army officials only. AWT has itsunits as under: Askari Associates Askari Leasing Askari General Private Business Textile Mills Cement Industry Askari Commercial Bank The story begins with the incorporation of Askari Commercial Bank limited in Pakistan on October 09, 1991, Askari Bank Commenced (begin) to operations in April 1992, as a public limited company. The bank is listed on the Karachi, Lahore and Islamabad Stock Exchanges and the initial public offering was over subscribed by 16 times. While capturing the target market share amongst the view banks, Askari has provided good value to its shareholders. Its share price has remained approximately 12% higher than the average share price of quoted banks during the last four years. Askari Bank has expanded into a nation wide presence of 140+ Branches, and a