Internship Report on UCBL With Weekly Journals (Complete File)

Internship Report

On

United Commercial Bank Ltd.

Submitted To:

Khandoker Asef Safa Kabir Upal

Lecturer

School of Business

North South University

Submitted By:

Azas Shahrier

Student ID: 093-0088-030

School of Business

North South University

Date of Submission:

March, 2015

Course: BUS498 (Internship)

“Fall 2014”

Letter of Transmittal

March, 2014

Khandoker Asef Safa Kabir UpalLecturerSchool of BusinessNorth South University

Subject: Submission of Internship Report on UCBL.

Dear Sir,

It was a great opportunity for me to work at United Commercial Bank as an intern to gather real-life experience. I am highly delighted to submit the internship report on United Commercial Bank in Dhaka. I have tried my best to prepare an effective report and hope that my report will give you the idea of how United Commercial Bank executes its deal with clients.

I was assigned to the corporate branch of UCBL. I have tried my level best to fulfill all my requirements of this course and tried to follow my supervisor’s instructions while preparing this report. This gave me the opportunity to theoretical knowledge in practical field, which will help me in my future career.

It would be a profound pleasure for me if the report can serve its purpose. I have put my sincere effort to give this report a presentable shape and make it as informative and precise as possible. I thank you for providing me with this unique opportunity.

Sincerely Yours,

_ _ _ _ _ _ _ _

Azas ShahrierID No: 093-0088-030Program: BBA (Major in Marketing)School of BusinessNorth South University

DECLARATION

I am Azas Shahrier, the student of Bachelor of Business Administration major in Marketing, North South University solemnly declare that this report on United Commercial Bank Limited has been authentically prepared by me. While preparing this report, I have not breached any copyright act intentionally. I further declare that, I did not submit this report earlier to any other institution for awarding any degree, diploma, or certificate.

_ _ _ _ _ _ _ _

Azas ShahrierID No: 093-0088-030Program: BBA (Major in Marketing)School of BusinessNorth South University

Acknowledgement

First of all I would like to express my gratitude to the Almighty Allah, whose invisible guidance helped me to complete this report.

This report has not only gave me some invaluable experience, at the same time it has made me indebted some extremely helpful and knowledgeable people. By working in United Commercial Bank Limited as an intern I have learnt so many things which are very valuable for me in future.

At first I want to express my deep gratitude to my Academic Supervisor Mr. Khandoker Asef Safa Kabir Upal. Without whom this report would not have been possible to accomplish. I am so honored to have him as my supervisor who taught me about professionalism and empathy which are the key factors in corporate success.

Finally, I am very thankful to Mr. Ikram Farid Chowdhury, First Vice President & Manager of UCBL, Bashundhara R/A Branch & Mr. Mohammad Shafiqul Islam, Senior Executive Officer & Manager Operation of Bashundhara R/A Branch, Dhaka for their constant support, guidance and supervision for preparing the report. I would like to thank all the personnel working at United Commercial Bank Ltd., Bashundhara R/A Branch. They made the environment congenial and favorable for me to understand the task. Without their assistance and co-operation, this report might not have seen the light of day.

And last but not the least; I would like to thank my parents for making me what I am today. Thanks to their enormous effort without whom, I would not have been able to accomplish my goals as well as learn the moral values.

I really enjoyed a lot every moments like internship period to preparing final report. I hope that it will help me in my future professional work. Moreover I like to thank everyone who has helped me for preparing this report and making it a memorable journey.

Table of Contents

EXECUTIVE SUMMARY……………………………………………………………………………......01

CHAPTER ONE: INTRODUCTION

1. INTRODUCTION……………………………………………………………………………03

1.1 ORIGIN OF THE REPORT…………………………………………………….04

1.2 OBJECTIVE OF THE REPORT…………………………………………….04-05

1.3 SCOPE OF THE STUDY……………………………………………………….05

1.4 METHODOLOGY……………………………………………………………...05

1.5 NATURE OF DATA…………………………………………………………....06

1.6 PRIMARY DATA COLLECTION………………………………………….06-07

1.6.1 DIRECT OBSERVATIONDURING INTERNSHIP PERIOD…………………………………………...06-07

1.6.2 FACE TO FACE TALKS…….………………………07

1.6.3 PRACTICAL DESKWORK………………………….07

1.6.4 TAKE EXPERT OPINION FROM CONCERNED OFFICIAL…………………………………………….07

1.6.5 INFORMAL CONVERSATION WIITH THE CLIENTS……………………………………………...07

1.7 SECONDARY DATA COLLECTION…………………………………….07-08

1.8 LIMITATIONS………………………………………………………………….08

CHAPTER TWO: OVERVIEW OF THE ORGANIZATION

2. COMPANY BACKGROUND……………………………………………………………….10

2.1 HISTORY……………………………………………………………………………11

2.2 MANAGEMENT……………………………………………………………………11

2.3 BOARD OF DIRECTORS………………………………………………………11-14

2.4 LIST OF DIRECTORS…………………………………………………………..14-15

2.5 VISION……………………………………………………………………………...16

2.6 MISSION…………………………………………………………………………….16

2.7 STRATEGIC MANAGEMENT…………………………………………………….16

2.8 OBJECTIVES……………………………………………………………………….16

2.9 INFORMATION OF THE DEPARTMENTS…………………………………...17-31

2.9.1 OVERVIEW OF THE DEPARTMENT AND THE PEOPLE......................................................................................17

2.9.2 DEPARTMENTS OF UNITED COMMERCIAL BANK………………………………………………………….17

2.9.3 GENERAL BANKING………………………………………..17

2.9.4 CASH SECTION………………………………………………18

2.9.5 PROCEDURE OF CASH RECIEPT………………………….18

2.9.6 PROCEDURE OF CASH PAYMENT…………………….18-19

2.9.7 CASH BOOK BALANCE…………………………………….19

2.9.8 MAINTENANCE OF CASH REMITTANCE………………..20

2.9.9 ONLINE BANKING OPERATIONS…………………………20

2.9.10 ACCOUNT OPENING MANAGEMENT………………...20-21

2.9.11 CREDIT MANAGEMENT……………………………………21

2.9.12 ORGANIZATIONAL STRUCTURE FOR CREDIT OPERATION…………………………………………………..22

2.9.13 CREDIT ADMINISTRATION FLOWCHART………………23

2.9.14 LOAN & ADVANCES…………………………………….24-25

2.9.15 CREDIT COMMITTEE……………………………………….25

2.9.16 FOREIGN EXCHANGE DEPARTMENT………………...25-30

2.9.17 GENERAL ADVANCE DEPARTMENT OF UCB…………..31

2.9.18 INFORMATION TECHNOLOGY OF UCB………………….31

CHAPTER THREE: SERVICE OFFERING & FEATURES

3. SERVICE OFFERING………………………………………………………………….........33

3.1 CONSUMER CREDIT (RETAIL) BANKING AT UCB…..…………………...33-34

3.2 CONSUMER CREDIT SCHEMES OF UCB…………………..……………….34-35

3.3 CAR LOAN…………………………………………………………...……………..35

3.4 DOCTORS’ LOAN………………………………………………………...………..35

3.5 HOUSEHOLD DURABLE LOAN……………………………………………...35-36

3.6 MARRIAGE LOAN…………………………………………………………………36

3.7 ANY PURPOSE LOAN………………………………………………………....36-37

3.8 EDUCATION LOAN………………………………………………………………..37

3.9 HOSPITALIZATION LOAN……………………………………………………37-38

3.10 LOAN AGAINST SALARY……………………………………………………38

3.11 TRAVEL LOAN………………………………………………………………...39

3.12 CNG CONVERSION LOAN…………………………………………………...39

3.13 OBJECTIVE OF THE CONSUMER CREDIT SCHEME………………….39-40

3.14 COMMERCIAL BANKING……………………………………………………40

3.15 FUNCTIONS OF UCBL………………………………………………………..40

3.16 VALUES OF UCBL…………………………………………………………….41

CHAPTER FOUR: PORTFOLIO OF THE ORGANIZATION

4. OPERATIONAL NETWORK……………………………………………………………….43

4.1 CORPORATE INFORMATION………………………………………………..44

4.2 EMPLOYEES AT UCBL BASHUNDHARA BRANCH………………………45

4.3 BLUEPRINT OF THE UNITED COMMERCIAL BANK LTD. –BASHUNDHARA BRANCH……………………………………………………….46

CHAPTER FIVE: CONTRIBUTION TO THE ORGANIZATION

5. ASSIGNMENT AND CONTRIBUTION TO THE ORGANIZATIION……………………48

5.1 DUTIES/RESPONSIBILITES AT UCB……………………………………..…48

5.2 DAILY WORK/JOB RESPONSIBILITIES………………………………...48-50

5.2.1 GENERAL BANKING…………………………………………..49

5.2.2 CHEQUE CLEARING…………………………………………...49

5.2.3 LOAN SECTION………………………………………………...49

5.2.4 FOREIGN EXCHANGE…………………………………………50

5.2.5 DIFFERENT ASPECTS OF JOB PERFORMANCE……………50

CHAPTER SIX: LESSONS FROM INTERNSHIP

6. LESSONS FROM INTERNSHIP EXPERIENCE…………………………………………...52

6.1 INTERACTION WITH SUPERVISOR AND COWORKERS……………..52-53

6.2 DEALING WIITH DIFFICULTIES…………………………………………….53

6.3 DIFFERENCES BETWEEN EXPECTATION AND EXPERIENCE……...53-54

6.4 INFLUENCE OF INTERNSHIP IN CAREER PLAN………………………54-55

6.5 REDOING INTERNSHIP……………………………………………………….55

CHAPTER SEVEN: THE CONCLUDING PART

7. SWOT ANALYSIS OF UNITED COMMERCIAL BANK LIMITED……………………..57

7.1 MAJOR FINDINGS……………………………………………………………..58

7.2 RECOMMENDATION………………………………………………………….59

7.3 COLCLUSION…………………………………………………………………..60

7.4 REFERENCES…………………………………………………………………..61

7.5 APPENDIX……………………………………………………………………...62

7.5.1 CERTIFICATE OF SUCCESSFUL COMPLETION OF INTERNSHIP……………………………………………………………#

7.5.2 WEEKLY JOURNALS OF TWELVE WEEKS……………..63-89

7.5.3 ABBREVIATIONS………………………………………………90

Table of Figures

FIG-1: PRIMARY AND SECONDARY DATA SOURCES………………………………………………………………………………..06

FIG-2: DEPARTMENT OF UNITED COMMERCIAL BANK…………………………………………………………………………..17

FIG-3: CASH INSURANCE LIMIT…………………………………………………………………………………………………………...…19

FIG-4: OPERATIONAL STRUCTURE OF CREDIT OPERATIONS…………………………………………………………………..22

FIG-5: CREDIT ADMINISTRATION FLOWCHART………………………………………………………………………………………23

FIG-6: LOAN AND ADVANCE…………………………………………………………………………………………………………………..24

FIG-7: CONTINUOUS LOAN…………………………………………………………………………………………………………………….24

FIG-8: FOREIGN EXCHANGE DEPARTENT……………………………………………………………………………………………….26

FIG-9: FLOWCHART OF IMPORT PROCEDURE………………………………………………………………………………………..27

FIG-10: FOREIGN REMITTANCE………………………………………………………………………………………………………………30

FIG-11: SERVICES OF UCBL…………………………………………………………………………………………………………………….33

FIG-12: CREDIT SCHEMES…………………………………………………………………………………………………………………34-35

FIG-13: THE HIERARCHY OF UCBL………………………………………………………………………………………………………….43

FIG-14: CORPORATE INFORMATION………………………………………………………………………………………………………44

FIG-15: CORPORATE INFORMATION OF UCBL BASHUNDHARA R/A BRANCH……………………….………………..45

FIG-16: BLUEPRINT OF THE 1ST FLOOR OF UCBL BASHUNDHARA R/A BRANCH……………………….……………..46

FIG-17: BLUEPRINT OF THE 2ND FLOOR OF UCBL BASHUNDHARA R/A BRANCH……………………….…………….46

FIG-18: SWOT ANALYSIS OF UCBL………………………………………………………………………………………………………….57

Executive Summary

Predominantly UCB has been indentified and perceived as a bank working only in the corporate arena. With introduction of retail banking, the image is gradually shifting where individuals have started to believe that UCB is not only a bank where the corporate clients are only entertained; this is also the bank where individual banking needs is being attended.

Since the launch of Retail Banking in February 2009 the bank has achieved considerable business growth and in a very short time the bank has established itself as one of the leading brands in Retail Banking Sector through its wide range of personal banking products. However, as a first generation bank, the quality of service remains a big challenge to specially attract the high net-worth individual as customers.

But one of the key contributors to retail success has always been the organic growth from its high-end segment of customers. Although this segment constitutes less than 1% of total customer base but contributes 23% of total consumer deposits. In order to retain, deepen and grow this niche market and to recognize and reward their value to the bank, it is felt that there is a need to provide differentiated service to them.

General Banking is the starting point of the entire bank operation. General Banking department aids in taking deposits and simultaneously provides some ancillaries services. It provides those customers who come frequently and those customers who come once for banking to enjoy ancillary services. In some general banking activities, there is no relation between banker and customer. On the other hand, there are customers with whom banks are doing its businesses frequently. It is the department, which provides day-to-day services to the customers. Each day it receives deposits from the customers and meets their demand for cash by honoring cheques. Employees open new accounts, demit funds, issue bank drafts and pay orders etc. Since bank is confined to provide the service every day, general banking is also known as retail banking. Under General Banking Division, I was working as an intern in the front desk. This department mainly provides service by opening various deposit accounts, saving scheme to customers for a wide variety of purposes. They are always on the run to search for new customers. Later on I was transferred to other departments of the branch to enrich my knowledge on bank working strategies.

This report is based on finding out the company policy, structure, working strategies etc. The overall objective to complete internship from United Commercial Bank Limited is to identify critical problems as well as come up with analytical roles. This must be done with a view to forecasting the firm's future prospective. At the end part of the report I have stated some recommendations, which will be helpful for banks to recover all the weaknesses.

CHAPTER ONE: INTRODUCTION

UNITED COMMERCIAL BANK LIMITED

1. Introduction

United Commercial Bank Ltd. (UCB) is a Bangladesh based financial institution that provides banking services. The services include personal and business banking, loans, credit cards, online banking and money transfer services. The bank operates in Bangladesh, where it is head quartered in Dhaka. With its firm commitment to the economic development of the country, the Bank has already made a distinct mark in the area of Private Sector Banking through personalized service, innovative practices, dynamic approach and efficient Management. The Bank, aiming to play a leading role in the economic activities of the country, is firmly engaged in the development of trade, commerce and industry through a creative credit policy.

UCB Sponsored by some dynamic and reputed entrepreneurs and eminent industrialists of the country and also participated by the Government, UCB started its operation in mid 1983 and has since been able to establish one of the largest networks of 139 branches among the first generation banks in the private sector.

1.1 Origin of the Report

Internship Program of North South University is an important requirement for the graduation of BBA students. The main purpose of internship is to get the student exposed to the job world and this study is a partial requirement of the Internship program of BBA curriculum at the North South University. Being an intern the main challenge was to implement the theoretical concepts into real life experience.

The internship program and the study have following purposes:

To experience the real Banking world. To get and organize detail knowledge on the job responsibility. To compare the real scenario with the knowledge gained in North South University. To fulfill the requirement of BBA Program. To apply theoretical knowledge in the practical field. To find out the overall features of UCB.

This report is the result of three months long internship program conducted in United Commercial Bank and is prepared as a requirement for the completion of the BBA program of North South University. As a result I needed to submit this report based on the Branding of UCB services.

1.2 Objective of the Report

The objectives of the report are;

An internship helps to sample real-life work settings, and use them as laboratory opportunities to apply the student’s knowledge gained throughout the program.

An internship helps to learn new skills as well as hone existing ones, particularly those related to time-management, interpersonal skills, organizational skills, communication skills etc.

An internship helps to transition from a nurtured state to one in which an intern has much greater control.

An internship allows us to prove ourselves. An internship allows building professional network.

More specifically, this study entails the following aspects:

To give an overview of United Commercial Bank. To focus on the products and services, facilities provided to clients of United Commercial Bank.

To know how UCB is managing its Corporate Goal. To know whether they are following Bangladesh Bank’s manual. To analyze the work process and monitoring system of Advance department. To get a clear idea about Bank and how it runs and what function it does. To gather theoretical knowledge of the general banking function. To search expectations of the customers regarding the service level of the bank.

1.3 Scope of the Study

As a student of Bachelor of Business Administration (BBA) every student has to conduct a practical orientation in any organization for fulfilling the requirements of the 12 weeks Internship Program. The main purpose of the program is to introduce the students to the real corporate world. My place of internship was “United Commercial Bank”, one of the leading banks of Bangladesh. I have worked for 12 weeks at General Banking department, Loan Section and Foreign Exchange Department.

I was required by the one desk to other desk. I have worked on the conventional banking system of United Commercial Bank Limited. The banking division in internship is practical report of the general banking division. The internship report of the University is an integral part of the BBA program. So it is obligatory to undertake such task by the students who are desirous to complete and successfully complete their BBA degree. This also provides an opportunity to the students to minimize the gap between theoretical and practical knowledge. During the internship the teachers of the department are attached to actively and constantly guide the students. Students are required to work on a specific topic based on their theoretical and practical knowledge acquired during the period of the internship program and then submit it to the teacher. That is why I have prepared this report.

United Commercial Bank Limited is one of the new generation banks in Bangladesh. The scope of the study is limited to the Bashundhara R/A Branch only. The report covers the organizational structure; background, functions and the performance of the bank. I have mainly worked in the General Banking department so that, my report covers the way of services provided by UCB. While preparing this report, I have not faced not any limitation from the employees of the branch. Employees of General department as well as the other departments helped me a lot and I have used secondary data which was available to me.

1.4 Methodology

While conducting the study various data were collected from various sources. The data collected are divided according to their different natures and sources. The study is done with the help of the following data:

1.5 Nature of Data

In this report both Primary and Secondary sources of data is used. The project was basically executed by gathering information through random conversations. Information was also gathered by observing the client's attitude and behavior. Finally I have conducted an observation method the factors that may affect the policies and practices.

Fig-1 Primary and Secondary Data Sources

1.6 Primary data collection

The primary data are those which are collected fresh and for the first time and thus happen to be original in character.

I have used three techniques of Primary Resources for my report and they are as followed:

Direct observation during the internship period of the bank. Face to Face talks. Practical deskwork. Take expert opinion from concerned officials. Informal conversation with the clients.

1.6.1 Direct observation during the internship period of the bank

Observation is the process of recognizing and noting people objects and occurrences rather than asking

for information. Informal observations remove the elements of bias and effect of reaction from research.

1.6.2 Face to Face Talks

As the field of study is limited within UCB, it was decided that information will be collected by direct face to face conversations. Face to face talks were held with some clients and also Bank Manager, Head of Sales and Marketing and Officers. They all have helped me a lot to gather the information about UCB services.

1.6.3 Practical Deskwork

When I was working at UCB, I have worked in different desk. While working for the Company I have collected the data which I needed to accomplish the report.

1.6.3 Take Expert Opinion from Concerned Officials

During my internship the officers not only helped to do the desk work but also Guide me for my internship report .Without their help the report could not be completed. They shared me many things regarding their products and features, which helped me a lot.

1.6.4 Informal Conversation with the ClientsSometimes I used to get busy in a conversation with the client to get my certain answer. The customers are very friendly and share their opinion with me.

In the end, I can say that for collecting primary information, regular diary and the training session of my internship period helped me a lot.

1.7 Secondary data collection

Previous internship reports Annual Report of UCB Different papers of UCB Various files, balance sheet and various documents Websites

An intensive way of critical work was required to acquire relevant knowledge. Relevant information like internal documents, books, reports etc. have been reviewed with a view to increase the knowledge and regarding the organization. Above all the storehouse of knowledge, “the internet” has also been a big part of the gaining knowledge regarding accomplishing the final report as well as the weekly journals.

1.8 Limitations

While preparing the report I have faced some limitations which are mentioned here:

Three months time is not enough for such an extensive study to know vastly about a organization and how it works. It is very difficult to collect all the required information of the organization in such a short period.

In the website there was lack of information. So I have asked everyone to fulfill my queries to prepare my report.

Our courses on marketing were based on theories. Sometimes it was difficult to relate all the

practices of operation to the theories.

The main constrain of the study was insufficiency of information and critical works, which were required for the journals. There are various information the bank employee cannot provide due to security and other corporate obligations.

Since the bank personnel were very busy, they could not provide me enough time. Lack of opportunity to visit more than one branch.

Data and information of the organization used in this report are mostly from secondary sources.

Due to some legal obligation and business secrecy banks reluctant to provide more analytical/critical works. For this reason, the study limits only on the available works and certain degree formal and informal and informal conversation.

CHAPTER TWO: OVERVIEW OF THE ORGANIZATION

2. Company Background

In the backdrop of economic liberalization and financial sector reforms, a group of highly successful local entrepreneurs conceived an idea of floating a commercial bank with a different outlook. For them it was competence, excellence and consistent delivery of reliable service with superior value products. Accordingly, United Commercial Bank Limited was created and commencement of business started on 17th April 1980.

United Commercial Bank Ltd. is operating as a scheduled bank under the banking license issued by Bangladesh Bank, the Central Bank of the country on April 17, 1980 through the opening of its Motijheel Branch at Adamjee Court Annex Building, Motijheel commercial area, Dhaka-1000. UCBL was actually registered under the Companies Act of 1913 with its registered office at 5, Rajuk Avenue, Motijheel commercial area, Dhaka-1000 which was later shifted to Adamjee Court Annex Building, 119-120, Motijheel commercial area, Dhaka-1000.

As a fully licensed commercial bank, United Commercial Bank Limited has being managed by highly professional and dedicated team with long experience in banking. They constantly focus on understanding and anticipating customer needs. As the banking scenario undergoes changes so does the bank and it adjusts and repositions it to the changed conditions.

In its 14th year of operation in 2009, United Commercial Bank has made substantial headway in terms of business growth, profitability and establishing its image as one of the leading private commercial banks. Its march towards reaching greater heights in operation continues with full vigor and enthusiasm. United Commercial Bank has made significant progress within a very short period of its existence. The bank has been graded as a top class bank in the country through internationally accepted CAMEL Rating. The bank has already occupied an enviable position among its competitors after achieving success in all areas of business operations.

2.1 History

United Commercial Bank Limited incorporated on 26 June, 1983 as a public company with limited liability under the Companies Act 1994. The bank obtained permission to commence business with effect from 27 June, 1983 and started banking operations on 29 June 1983 with an authorized capital of Tk. 100 million divided into 1 million ordinary shares of Tk. 100 each. A number of leading figures from industry and business in the country met in the eighties of last century the construction of a commercial bank. The result was one of the first generation banks in the private sector in the country. For example, United Commercial Bank Limited (UCBL) was, in fact, and the GOB was kind enough to participate as a shareholder.

2.2 Management

The Bank has in its Management a combination of highly skilled and eminent bankers of the country of varied experience and expertise successfully lead by Mr. M. Shahjahan Bhuiyan, a dynamic banker, as its Managing Director and well educated young, energetic and dedicated officers working with missionary zeal for the growth and progress of the institution.

2.3 Board of Directors

ChairmanMr. M. A. Hashem

Mr. M. A. Hashem, prominent business tycoon of the country & former Member of Parliament, is the Chairman of UCB. He is also the Chairman of Partex Group, one of the largest conglomerates in the private sector manufacturing and service based enterprises in Bangladesh.

Mr. Hashem, son of Late Al-Haj Abdul Aziz, was born in a respectable Muslim family of Wasaqpur, Begumganj in the district of Noakhali. In the development tale of Bangladesh, his prudential initiatives & entrepreneurship will be remembered for a long time.

A reputed Industrialist and humanitarian, Mr. Hashem is actively associated with many educational and socio-cultural organizations of the country. He is also the founder member and current Chairman of Trusty Board of North South University, member of Board of Trustees of the IBAIS University, founder of M. A. Hashem Diabetic Hospital, Chowmuhani, M. A. Hashem University College, Kazirhat, Begumganj and Al-haj Abdul Aziz Lillah Boarding & Orphanage at Chowmuhani, Noakhali. He patronizes a number of social, cultural, charitable & sporting organizations of the country as well.

Vice Chairman

Mr. Sharif Zahir

Mr. Sharif Zahir, promising industrialist of the country, is the Vice Chairman of UCB.Mr. Sharif Zahir is at the same time Managing Director of Ananta Casual Wear Ltd, Ananta Properties Ltd, Ananta Energy Resources Ltd, National Finance Ltd, Confidence Industries Ltd, Ananta Apparels Ltd, Ananta Fashion Ltd, Ananta Group Ltd, Ananta Denim Technology Ltd. He attained his Graduation from University of Texas at Austin, USA in Finance & Economics. Government of Bangladesh has honoured Mr. Sharif Zahir as CIP (Commercially Important Person) for his contribution to the national economy. With his brilliance and originality, he is contributing in transforming UCB as a transparent & accountable organization.

Director and chairman,Excutive Commitee

Anisuzzaman Chowdhury

Mr. Anisuzzaman Chowdhury, a young and dynamic industrialist of the country is the Chairman of Executive Committee of UCB.

He is also Director of Ronny Chemical Industries Ltd. He holds Graduation in Business Administration from Palm Beach Atlantic College of USA. Mr. Anisuzzaman Chowdhury, was born

in a glorious & highly respectable Muslim family of Anwara under Chittagong District of the country.

With his brilliance and prudence, he has been contributing in UCB to reach its vision through providing best banking services in the Country.

Director & Chairman, Audit Committee

Muhammad Zahirul Alam

Lieutenant General Abu Tayeb Muhammad Zahirul Alam, rcds, psc (retired), one of the Independent Directors of UCB, is the Chairman of Audit Committee.

He served Bangladesh Military for long 35 years with great honor and dignity. He was adjudged as the best all round Gentleman Cadet and was awarded the “Sword of Honor” in Bangladesh Military Academy. In his career, he held the appointment of Director of Military Training, commanded two Infantry Divisions and had been the Commandant of National Defense Collage (NDC), Bangladesh. He is also a peace keeper and has two United Nations Peacekeeping Missions to his credit. In the final leg of his career, he held the appointment of Force Commander of the United Nation Multinational Peace Keeping Force in Liberia, West Africa.

He holds a Master′s Degree in Arts from King′s College London, United Kingdom and is a graduate of prestigious Royal College of Defense Studies (RCDS), United Kingdom. He also attended a short course at Harvard University, USA. After retirement, besides teaching in National Defense College, he has interest in playing golf.

Chairman, Risk Management Committee

Mr. M. A. Sabur

Mr. M. A. Sabur, leading Industrial entrepreneur, is the Chairman of Risk Management Committee of UCB. He is also the Chairman of Masco Group and Maxim Group, a leading export house in textile sector of the country.

An MBA, Mr. Sabur is the son of Late Alhaj Raham Ali. He belongs to a respectable Muslim family and hails from Kanchon of Narayanganj district. He is a member of IBA Alumni Association & also a golfer being lifetime member of Kurmitola Golf Club, Dhaka and Bhatiary Golf Club, Chittagong. Mr. Sabur is actively associated with various educational & socio-cultural organizations of Dhaka & Chittagong.

This illustrious personality is guiding the Bank in exploring new opportunities of business procurement in this competitive market.

2.4 List of Directors

Mr. Showkat Aziz Russell Mrs. Nur Nahar Zaman

Mr. Md Jahangir Alam Mr. Tanvir Khan

Mr. Hajee Younus Mrs. Sultana Rezia Begum

Mr. Ahmed Arif Billah Dr. Salim Mahmud

Mr. Md Abdul Karim Mr. Syed Mohammed Nur Uddin

Mr. Hazi MA Kalam Mr. Sabbir Ahmed

Managing Director Additional Managing Director & Company Secretary

Mr. Muhammed Ali Mr. Mirza Mahmud Rafiqur Rahman

2.5 Vision

To be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management and profitability having strong liquidity.

2.6 Mission

To build United Commercial Bank Limited into an efficient, market driven, customer focused institution with good corporate governance structure. Continuous improvement in our business policies, procedure and efficiency through integration of technology at all levels.

2.7 Strategic Statement

To have sustained growth, broaden and improve range of products and services in all areas of banking activities with the aim to add increased value to shareholders’ investment and offer highest possible benefits to our customers.

2.8 Objectives

To build up strong pillar of capital, To promote trade, commerce and industry, To discover strategies for achieving systematic growth, To improve and broaden the range of product and services, To develop human resource by increasing employment opportunities, To enhance asset of shareholders, To offer standard financial services to the people, To keep business morality, To develop welfare oriented banking service, To offer highest possible benefit to customers.

2.9 Information of the Departments

2.9.1 Overview of the Department and the People

Mr. Ikram Farid Chowdhury is the First Vice President & Head of Branch of United Commercial Bank Limited Bashundhara R/A. But the name of my supervisor is Mohammad Shafiqul Islam who is the Senior Executive Officer & Manager Operation of the branch. There are 18 employees listed in this branch and with other staffs the numbers reach almost 25. Every department consists of Senior Executive Officer, Executive Officer, Principal Officer, Senior Officer, Officer, Junior Officer, Cash Officer, and Assistant Cash Officer. All employees try to work as team members and they need to give feedback to the Branch Manager and the Second Manager of the branch. The departments are General Division, Cash, Transfer, Clearing, Accounts, Loan and LC, Card Division, Foreign Exchange Remittance, Cash Remittance, and Retail and Sales.

The behavior of each co-worker is very good. They never misbehave even in the worst time. But they have tendency to get busy with only works and no talks. But sometimes they make fun out of the blue and enjoy their day by socializing with each other. They always greet each other every time and ask for company while going for lunch or any other break.

2.9.2 Departments of United Commercial Bank: Commercial Bank divided its branch into 3 departments.

Fig-2 Dept. of United Commercial Bank

2.9.3 General Banking

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 provides those customers who come frequently and those customers who come one time in banking for enjoying ancillary services. It is the department, which provides day-to-day services to the customers. Every day it receives deposits from the customers and meets their demand for cash by honoring cheques. It opens new accounts, demit funds, issue bank drafts and pay orders etc.

2.9.4 Cash Section

Cash section demonstrates liquidity strength of a Bank. It is also sensitive as it deals with liquid money. It is the most important department that is contributing to the earning of the bank in terms of goodwill and customer satisfaction with their quality and prompt services.

Cash department of UCB Rajshahi Branch is well equipped and decorated. There is also electronic counted machine and computers with online system in this department. Balance of account can be seen with few seconds. So cash payment can be made very promptly. Transaction involving cash is called cash transactions. The cheques/ instrument / vouchers which are paid in cash over the counter are cash transactions. It has two types of services:

Cash Receipt Cash Payment

2.9.5 Procedure of Cash Receipt

The depositor will use the prescribed deposit slip supplied by the bank to deposit cash /cheques/demand draft/pay order etc. All cash receipt voucher shall be received by the teller. Cash receipt counter performs its job as follows:

First checks if the deposit slip is properly filled up containing title of account, account number, date, amount in word and figures and depositors sign.

Cash is received by the cash receiving officer, twice counted and matched with the deposit slip and also write down the denomination of notes behind the cheque.

Record it in the Record Book and put scroll no in the cheque.

Deposit slip is credited and posted in the concerned account in the system.

2.9.6 Procedure of Cash Payment

At this counter cash is paid to the customer on demand by placing a cheque over counter.

Payment counter performs its job as follows:

Check the cheque leaf whether it is worded properly. This cheque covers Branch seal, Date (Date must be current date or 180 days earlier), amount in figure and word, and finally signature of the Drawer. We also check here whether the word “Bearer” is crossed away or the cheque is in the name of any company or firm.

Verify the signature with the specimen signature and give verification seal and signature of the verifier.

Check proper endorsement is given behind the check leaf in case of Check Drawn on Payees in the name of any Firm. For cheques in the name of Firm Attestation is required along with Firm’s common seal to be paid over the cash counter.

Give posting in PcBANK2000 and debit Drawer account and note the transaction no. on the top of the cheque.

2.9.7 Cash Book Balance

At the end of the working day cashier is responsible to maintain the cash balance book. The cash book contain the date, opening balance, detail of cash payment and received in figures, closing balance, denomination of government notes (Currency). It s checked by manager. The consolidated figure of receipt and payment of cash is entered in the cash book and the closing balance of cash is drawn from that i.e.

Opening Balance of Cash + Receipts - Payments = Balance

The closing balance of today will be the opening balance of tomorrow. This department is one of the most important departments of the Bank. All the books maintained in this department are checked by officer.

Cash Insurance Limit

2.9.8 Maintenance of Cash Remittance

The In-charge of Cash Department maintains the cash remittance according to the rules of the Bank. If the cash manager thinks that the amount of money cross the limit, then he called the Principal Branch to takes the extra amount of money or vice versa. Inter Branch Credit Advice (IBCA) is used for such transaction.

2.9.9 Online Banking Operations

The UCBL has 84 branches and all transactions among the branches are done through Online. UCBL uses PcBank2000 customized software for its day to day transaction. The activities are:

Deposit cash in any branch in any account Withdraw cash from any branch Transfer from any account to any branch

2.9.10 Account Opening Management

Responsibility of the customer service starts with opening of new account in the name of new customer. This is the starting point of the client bank relationship. By opening an account, the bank bridge it’s customer to avail the facilities provided by the bank.

A. Types of Account

UCBL has several types of deposits for its customers. Like-

Savings Bank (SB) Account Current Deposit (CD) Account Short Term Deposit (STD) Account Fixed Deposit Receipt (FDR) Account

B. Account Bills and Remittance:

Remittance is one of the important items of bank business. Now a day business person cannot run his business without bank remittance facilities. Sending some money from one station to another through banking channel is called remittance. Remittance may be both local and foreign. The main instruments used for local remittance of fund are:

Pay Order (PO) Demand Drafts (DD) Telegraphic Transfer (TT) Payment in Cash

C. Clearing

The function of clearing department can be divided into two parts:

Outward Clearing Inward Clearing

2.9.11 Credit Management

The word ‘credit’ derives from Latin word ‘cruder’ means ‘to trust’. The fundamental nature of credit is that, an element of trust exists between buyer and seller whether of goods or of money. Credit may also be defined narrowly or broadly. Narrowly credit is simply the opposite of debt. Debt is the obligation to make future payments. Credit is the claim to receive these payments. Credit is finance made available by one party (lender, seller or shareholder/ owner) to another (borrower, buyer, corporate or non-corporate firm), i.e. from surplus unit to deficit unit. Credit is the outcome of financial intermediation the very major service offered by Bank financial institution. The economic basis of financial intermediation lies in the economics of scale in portfolio management and in the low of large numbers.

Lander has preference for financial intermediation because of:

Low risk Greater

liquidity Conveni

ence and

2.9.12 Organizational Structure for Credit Operation

At the minimum, one officer shall be placed in the Credit Administration unit immediately at each branch who shall independently under administrative and working control of Credit Administration Department.

2.9.13 Credit Administration Flowchart

2.9.14 Loan & Advances

Loan and advances have primarily been divided into three main heads as follows:

A. Fixed Term Loan

These are the non-revolving loans made by the Bank with fixed repayment schedules. This loan is given for a specific term and usually repaid in Equal Installment either of monthly or quarterly. The interest may be paid quarterly or along with the installment. Fixed term loans are categorized into three categories based upon its tenure which is defined as follows:

Short-term loan Mid Term loan Long

TermLoan

B. Continuous Loan

C. Demand Loan

These are the non-revolving loans which are neither continuous nor fixed but have to be repaid on demand. This loan is repayable by the borrower on demand. That means for this loan the borrower is bound to pay back on demand of Bank.

D. Personal Loan ( Consumer Credit Scheme)

The objectives of this loan are to provide essential household durable to the fixed income group (Service Holders) and other eligible borrowers. Car loan, loan for house renovation, vacation loan, marriage loan and loan for household equipment well as entertainment products are governed by personal loan program.

2.9.15 Credit Committee

Bank has a multi-tier Credit approving system to manage the credit risk efficiently. Credit proposals after preliminary evaluation and making necessary adjustment will be placed by Corporate Banking Division before the Credit Committee for preliminary appraisal since recommendation of the Credit Committee is pre-requisite before approving any loans by the appropriate approval authority. Credit Risk Review Department of CRMD will conduct their risk assessment on different aspects of the proposal and may place their observation in the Credit Committee meeting.

2.9.16 Foreign Exchange Department

Foreign Exchange Department is an important one in UCBL Rajshahi Branch that deals with import, export, and foreign remittance and post import financing. Through this is an ancillary service provided by the Bank. The Bank is purchasing primary security by giving loan in form of loan against imported merchandise (LIM), and loan against trust receipt (LTR). Bank branch should be ‘Authorized Dealer’ with the approval of Bangladesh Bank to run foreign exchange business. This department is playing an

important role in enhancing export earnings, which aids economic growth and, in turn, will be helpful for economic development. On the other hand, it also helps to meet those goods and services, which are more demandable and not adequate in our country.

Function of Foreign Exchange

L/C opening & L/C amendment Sanctioning PAD, LIM, LTR, Packing credit Foreign Bill Purchase Local Bill Purchase Foreign Currency Account Maintaining Foreign Currency Remitted

The Foreign Exchange Department of UCBL is divided into three broad sections:

A. Letter of Credit

Letter of Credit is a payment guarantee to the seller by the buyer’s Bank. It is a Credit Contract whereby the buyer’s Bank on behalf of the buyer is committed to pay an agreed amount of money to the seller under some agreed conditions.

Contents of Letter of Credit

Name of the Buyer Name of the Seller Moment of the Credit Trade Terms Tenor

Expiration Date Documents Required

B. Foreign Exchange Report

Import policy refers to government policies account for a particular fiscal period envisaging the allocation of fund available from various sources for import of certain quantity of certain goods. The main purpose of the policy is to conserve scare foreign exchange & to ensure its utilization for the import of goods and services which have national priority.

Flow Chart of Import Procedure

C. Letter of Authorization Form (LCAF)

The Letter Of Credit Authorization Form is the form prescribed for the authorization of opening letter of credit or payment against import and used in lieu of import license. The authorized dealers are empowered to issue LCA forms to the importers to allow import in Bangladesh. If foreign exchange, it is intended to be bought from Bangladesh Bank against a LCAF, it has to be registered with Bangladesh Bank’s Registration Unit.

D. Importer Application for L/C Limit

The importer must have sufficient credit line for opening an L/C. In case the client does not have approved credit line for opening an L/C the Manager of the branch takes necessary arrangement to submit a proposal to the Credit Committee/Executive.

E. L/C Application

L/C Application is a sort of arrangement between client and Bank. UCBL provides a printed form for opening a L/C to the importer. Usually the importer expresses his desire to open a L/C quoting the amount of margin in percentage.

F. Scrutiny of L/C Application

On receipt of L/C application, the branch officials scrutinize the same very carefully giving emphasis to the following:

1. The terms and conditions of the L/C must be complete with UCPDC 500 and Exchange Control & Import Trade Regulation.

2. L/C application is stamped, as it is a guarantee of payment.

Procedure On receipt of a request letter for amendment of L/C from the customer the Bank takes the following steps:

1. Record the date and time of receipt of the application.

2. Read the request letter for amendment briefly to ensure that concerned L/C number and the instructions mentioned are clear.

3. If found in order check the request letter for amendment together with all supporting papers. In case the letter of amendment is completed or required papers neither are nor submitted, the customer should be contacted promptly for rectification of the defects.

4. In case the customers do not have approved credit line for increasing/amending the L/C, the import section has to submit proposal to the Executive Committee of the Board and keep pending of amending the L/C till its approval.

5. When the request letter for amendment with all papers found to be in order, record the particular of amendments with date in appropriate column against the relevant L/C in the L/C register.

6. Prepare the letter of amendment either in mail, SWIFT telex format.

G. Foreign Exchange Export

According to Foreign Exchange Regulation Act, 1947, nobody can export by post and otherwise any goods either directly or indirectly to any place outside Bangladesh, unless a declaration is furnished by the exporter to the collector of customs or to such other person as the Bangladesh Bank may specify in this behalf that foreign exchange.

H. Back to Back Letter of Credit

Back-to-Back L/C is a secondary L/C opened by the seller’s Bank based on the original/master L/C to purchase the raw materials and accessories for manufacturing of the export products required by the seller.

I. Post-Shipment Credit

Post-shipment Credit refers to the credit facilities extended to the exporters by commercial Banks after shipment of the goods against export documents.

Banks in our country generally extend post-shipment credit to the exporters through:

Negotiation of documents under Letter of Credit Purchase/Discount of DP and DA Bills

Advances against Export Bills surrendered for collection Negotiation of documents under Letter of Credit Purchase/Discount of DP and DA Bills Advances against Bills for Collection

Commission for collection

J. Foreign Remittance

Foreign Remittance means purchase and sale of freely convertible foreign currencies as admissible under Exchange Control Regulation of the country.

Fig-10: Foreign Remittance

Foreign Inward Remittance Foreign Outward Remittance

Remittance which is made from our country to abroad is called foreign outward remittance.

K. Foreign Bills Collection

The collection procedure is as follows:

1. Entries in the FBC register and get a FBC number. This number will be on the bill and be treated as reference no.

2. Forward the bill along with a forwarding letter to the corresponding Bank. Send the draft through courier service and keep a courier receipt in the file.

3. Crossing on the bill indicating UCBL as a collecting Bank. Endorsement on the back of the bill “Payee’s A/C will be credited on realization”.

2.9.17 General Advance Department of UCB

GENERAL ADVANCE DEPARTMENT

The General Division deals with asset selling of the Bank. Generally financial institutions like Commercial Banks pool fund from society in terms of deposit & channel this fund in terms of credit to different firms in business community as well as to individuals with deficit of fund in the society. And this facility is generally known as loan. So in a broader sense we infer that bank is providing solutions to the business as well as to the individuals for their financial needs.

UCBL’s credit mission is to actively participate in the growth and expansion of our national economy by providing credit to viable borrowers, efficiently delivered and competitively priced. UCBL’s client base consists of corporate, institutional and private clients to help them realize their short term goal as well as long term aspiration.

2.9.18 Information Technology of UCB

In today’s financial services environments, technology is not an option but a necessity. United Commercial Bank is amongst the pioneer in banking industry to provide sophisticated On-line banking services to its customers through the network of all 110 branches. Moreover, UCB has entered into an agreement with Dutch Bangla Bank Ltd. for sharing ATM facilities with them to extend a wide range of banking service to its valued customers.

In 2007 the bank invested substantially in improving its IT facilities for ensuring seamless, faster and secure banking transactions.

The data center of the bank has been equipped with the state of the art modern servers and network equipment from world renowned vendors. A Dell Cluster Server based on EMC SAN storage system ensures 24´7 data access facility providing maximum fault tolerance capability. A CISCO PIX firewall ensures the safety network from any attempt of instruction. During the year the bank has also launched services like Tele-Banking, Debit Card facilities for its customers. UCB also introduced UCB Corporate Intranet system for quick distribution of information amongst its branches.

CHAPTER THREE: SERVICE OFFERING & FEATURES

3. Service Offering

Fig-11: Services of UCBL

All these services can be broken down to Consumer Credit (Retail) banking; commercial (includes SME and Corporate) banking; and miscellaneous services.

3.1 Consumer Credit (Retail) Banking at United Commercial Bank Ltd.

It is one of the core businesses for United Commercial Bank Limited and has been targeted for significant further growth. This reflects the potential of consumer credit scheme to produce high levels of economic profit and perceived demographic trends toward an expanded middle class and higher income levels.

Trade LoanIndustrial FinanceImport FinanceExport FinanceLoan SyndicationWorking CapitalFinancePacking CreditTransport LoanLease FinanceHire Purchase LoanHouse Building LoanHome LoanCustomer CreditSchemeAuto LoanDoctors LoanMarriage LoanEducation LoanHospitalization LoanTravel LoanCNG Conversion LoanCurrent DepositSavings DepositWomen Saving DepositWomen DPS PLUSNon ResidentialBangladeshi DepositSpecial Notice DepositFixed DepositForeign CurrencyDeposit A/CUCB Imperial SavingsUCB Money MaximizerUCB Multi MillionaireUCB Earning PlusUCB DPS PlusUCB YoungstersSavingsUCB Youngsters DPSUCB Savings PlusWestern Union MoneyTransferSMS Banking ServiceOnline ServiceInward & OutwardRemittancesTravelers ChequesUnderwriting & BridgeFinancingLocker ServicOffshore Banking

Asset quality is generally expected to be higher in personal lending than corporate lending due to variety of factors including:

Diversification of risk. Security. Cultural values. The increasing need for individuals to have access to bank credit for the conduct of normal

daily activities.

United Commercial Bank is a conservative lender in consumer credit as part of its corporate philosophy. However, conservatism does not mean simply minimizing bad debts, but incorporates the concept of lending against acceptable risks. The Bank’s overriding goal is not only to increase total shareholder return but also to contribute to the socio economy by improving the life style of the limited income segment of the country and that can be achieved optimizing profits, rather than just minimizing losses, profit optimization will follow from:

Good-planning and control of approval process. Well-designed products with appropriately focused marketing. The use of statistical techniques and decision support system that permit risks to be

managed predictably. Gathering high quality management information, this is then read and used.

3.2 Consumer Credit Schemes of United Commercial Bank Ltd.

The United Commercial Bank with their financing items under CCS loan is given below: Household Durable Loan: Motor Cycle, Personal Computer, Photocopier, Fax machine, Small PABX system, Television, Mobile Phone set, Refrigerator, Audio-video equipment, Other home electric appliances, Furniture and any other household items.

Household Durable Loan For purchasing household durables.Car loan Car, Jeep, Station Jeep, Pick up Van,

Cover Van, Bus, Truck, Ambulance and any other vehicle for own use.

Doctors’ Loan For the Doctors only.Loan against salary Any qualified person

Any purpose loan For emergency needEducation loan For Study purpose onlyTravel Loan For traveling purpose,Marriage loan For wedding only.CNG Conversion Loan To convert into CNGHospitalization Loan For treatment in hospital

Fig-12: Credit Schemes

3.3 Car Loan

Customer Segment

Any Bangladeshi individual who has the means and capacity to repay the loan. In specific terms the target customers should cover salaried executives of multinational companies, middle to large size local corporate, Government officials, Officials working in Semi-government, Autonomous and reputed Non-Government Organization, International aid agencies and any tax paying businessmen of repute and self-employed tax-paying individual having a reliable source of income.

Purpose: Purchase of non-commercial new and reconditioned vehicles for personal use only by individual.

3.4 Doctors’ Loan

Customer Segment

Any Bangladeshi citizen who is a graduate in Medical Science/Dentist/Eye/Allopathic as self-employed or salaried people has the means and capability to repay the loan.

Purpose: Small scale purchase of different medical equipments, machineries, items to support professional tools or other relevant needs (e.g. run or set up a clinic/hospital/dispensary).

3.5 Household Durable Loan

Customer Segment

Any Bangladeshi individual who has the means and capacity to repay the loan. In specific terms the target customers should cover salaried executives of multinational companies, middle to large size local corporate, Government officials, Officials working in Semi-government, Autonomous and reputed Non Government Organization, International aid agencies and any tax paying businessmen of repute and self-employed tax-paying individual having a reliable source of income.

Purpose: Purchase of household durables like Television, Refrigerator, Air conditioner, Washing Machine, Computers, other household furniture etc. for personal use only.

3.6 Marriage Loan

Customer Segment

Employees of reputed multinational companies and large local corporate. Employees of medium sized or mid-range local corporate such as reputed schools and

colleges, insurance and leasing companies, Non Government Organization, reputed trading firms and all other salaried persons.

Any tax paying businessmen of repute and self-employed tax-paying individual having a reliable source of income.

Purpose

To meet the financial need for marriage purpose.

3.7 Any Purpose Loan

Customer Segment

Employees of reputed multinational companies and large local corporate. Employees of medium sized or mid-range local corporate such as reputed schools and colleges,

insurance and leasing companies, Non Government Organization, Government officials, reputed trading firms and all other salaried persons.

Purpose

Miscellaneous personal financial requirements. The customer has to declare the purpose of the loan but submission of supporting document is not mandatory. Purpose may be as follows:

House renovation Marriage in a family Advance retail payment Hospitalization or other emergency medical needs Trips abroad Purchase of Miscellaneous household appliances Purchase of personal computer Purchase of electronic items Purchase of furniture

3.8 Education Loan

Customer Segment


colleges, insurance and leasing companies, Non-Government Organization, reputed trading firms and all other salaried persons.


Purpose

For educational purposes like study in abroad or within the country.

3.9 Hospitalization Loan

Customer Segment




Purpose

To meet the financial need for treatment purposes in the following hospitals/clinics of Dhaka and Chittagong:

BIRDEM Holy family Hospital Central Hospital Monwara Hospital Samrita Hospital Medinova Bangladesh Medical Metropolitan Hospital Sikder Medical Islami Bank Hospital Dhaka Renal Centre IbneSina Hospital Lab Aid Cardiac Hospital National Heart Foundation CMH, Dhaka Apollo Hospital Health Care, Chittagong Health Home, Chittagong Poly Clinic, Chittagong CMH,Chittagong

3.10 Loan against Salary

Customer Segment



Purpose

To meet the financial need for any acceptable purpose.

3.11 Travel Loan

Customer Segment


colleges, insurance and leasing companies, Non Government Organization, reputed trading firms and all other salaried persons.


Purpose

To meet the financial need for travel purpose.

3.12 CNG Conversion Loan

Customer Segment

Any Bangladeshi individual who has the means and capacity to repay the loan. In specific terms the target customers should cover salaried executives of multinational companies, middle to large size local corporate, Government officials, Officials working in Semi-government, Autonomous and reputed Non-Government Organization, International aid agencies and any tax paying businessmen of repute and self-employed tax-paying individual having a reliable source of income.

Purpose

For converting vehicles from carbon based fuel to Compressed Natural Gas system.

3.13 Objective of the Consumer Credit Scheme

United Commercial Bank Limited started the Consumer Credit Scheme program with a view to fulfill its benevolent institutional objectives through financing the middle class limited income group.

To ensure the credit facility to the both middle class Limited income group and upper class income group.

To improve the living standard of limited income group through financing in purchasing necessary goods.

To participate in the socio-economic development of the country.

3.14 Commercial Banking

Commercial Credit services are quite different from consumer credit banking due to its flexibility of customization and it depends entirely on commercial customer’s requirements. Hence, generic offerings for commercial clients are as follows:

One Stop ServiceTime Deposit SchemeMonthly Savings SchemeDeposit Insurance SchemeInward & Outward RemittancesTravelers ChequesImport FinanceExport FinanceWorking Capital FinanceLoan SyndicationUnderwriting and Bridge Financing

3.15 Functions of UCBL

To maintain all types of deposit A/Cs. To make investment. To conduct foreign exchange business. To conduct other Banking services. To conduct social welfare activities. To work for continues business innovation and improvements.

3.16 Values of UCBL

To be one UCBL by holding and guiding the following values:

To have a strong customer focus and to build relationship based on integrity, superior service and mutual benefit.

To strive for private and sound growth.

To work as a team to serve the best interests of the organization. To work for continues business innovation and improvements. To value and respect people and make decisions based on merit.

To provide recognition and reward on performance. To value open and honest communication.

CHAPTER FOUR: PORTFOLIO OF THE

ORGANIZATION

Mid LevelManagement

Executive Level Management

Top Management

Junior Officer

Management Trainee Officer

Senior Officer

Principle Officer

Executive Officer

Senior Executive Officer

First Assistant. Vice President

Assistant Vice President

Senior Vice President

Executive Vice President

Senior Executive Vice President

Deputy Managing Directors

Executive Committee

Managing Director

Board of Directors

Chairman

Junior Level

4. Operational Network

Fig-13: The Hierarchy of UCBL

4.1 Corporate Information

Name United Commercial Bank Limited

Legal Status Public Limited Company

Date of Incorporation 26 June 1983

Date of Commencement of Business 27 June 1983

Chairman Mr. M.A. Hashem

Vice Chairman Mr. Showkat Aziz Russell

Managing Director Mr. Muhammad Ali

Company Secretary Mr. Miza Mahmud Rafiqir Rahman

Date of Listing with DSE & CSE 30 November 1986 & 15 November 1995

Authorized Capital Taka 8,000 million

Paid up Capital Taka 836

Total manpower 2,982

Number of Branches 130

Number of AD Branches 25

Number of Agri. Branches 02

Number of ATM Booth 77

Auditors Syful Shamsul Alam & C0. Chartered Accountants

Tax Consultants Mr. Md. Mosharrof Hossain, Advicate

Legal Consultant T.I.N. Nurun Nabi Chowdhury

Rating Agency Credit Rating Information & Services Ltd. (CRISL)

Registered Office CWS (A)-1, Gulsan Avenue, Dhaka-1212, Bangladesh.

Telephone 028852500

E-mail [email protected] m

Website www.ucb.co m

SWIFT UCB BDDH

Fig-14: Corporate Information

4.2 Employees at UCBL – Bashundhara R/A Branch

Designation Name

Stairways + Lift

Cas

h B

oothV

ault

Operation Manager’s cubicleClearance & Transfer Booth

Vice-President & Head of Branch Mr. Ikram Farid Chowdhury

Operation Manager Mr. Mohammdad Shafiqul Islam

Senior Executive Officer Mr. Golam Idrees

Senior Officer Mr. Abu Arafat Latif

Senior Officer Mr. HafizurRahman

Officer - Cash Mr. MD. Golam Rahman

Officer – Cash Mr. Shahjahan Chowdhury

Junior Officer Mrs. Rezwana Khanam

Officer Mr. B.M. BorhanUddin

Junior Officer – Probation Mr. Ali Rawshan Ibne Alam

Assistant Cash Officer Mrs. Kaniz Fatema

Assistant Cash Officer Mr. MD. Morshedul Alam

Assistant Cash Officer – Probation Mr. MD. Rafiqul Karim

Credit Card Service Officer Mr. S.M. Saifullah

Debit Card Service Mr. Ariful Haque

Fig-15: Corporate Information of UCBL Bashundhara R/A Branch

4.3 Blueprint of United Commercial Bank Ltd. - Bashundhara Branch

Stairways + Lift SEO

and

Sen

ior O

ffic

er’s

Des

k Vau

lt

ConferenceRoom

Manager’s Cabin

Was

hroo

m

Retail

Credit Officer’s Desk

ServerRoom

Executive Officer’s Desk

Fig-16: Blueprint of the 1st floor of UCBL Bashundhara R/A Branch

Fig-17: Blueprint of the 2nd floor of UCBL Bashundhara R/A Branch

StoreRoom

1st Floor

2nd floor

CHAPTER FIVE: CONTRIBUTION TO THE

ORGANIZATION

5. Assignment and Contribution to the OrganizationMy contribution as an internee was not much but it was crucial. I observed any firms use processes that have lasted for years but are frequently tweaked to create improvements. I have done something similar.

A new facility was to be offered to the students. Students ‘accounts are to be introduced and I was given the responsibility to be present in the fairs which was organized in the well known universities. I was given the responsibility to influence the students to have their own bank accounts. It was extremely a challenging job for me. I lived up to my supervisor’s expectations because being a student I had really good and strong connections with other students. I knew what were the factors those would motivate them to open a new bank account who were students. Moreover, even if there were some students who did not open a bank account but I ensured an increase in awareness among student of the new service.

5.1 Duties/Responsibilities at UCB

Experience the real Banking world. Understand general banking. Fill up KYC (know your customer) forms. Writing up the Pay-orders/slips. To get and organize detail knowledge on the job responsibility. Compare the real scenario with the knowledge gained in North South University. Fulfill the requirement of BBA Program. Apply theoretical knowledge in the practical field. Find out the overall features of UCB. To experience:

Bank Audits Reconciliation LC Foreign exchange Credit investment Risk analysis Card creation & requisition Verification of Daily Voucher Position & Cash Memo Sundry Accounts

5.2 Daily Work/Job Responsibilities

I have performed the following activities in the United Commercial Bank Ltd.

5.2.1 General Banking

Account opening section

Step 1: Receiving filled up application in Bank’s prescribed form mentioning what type of account is desired to be opened

Step 2: The form is filled up by the application him/ her

Step 3: Two copies of passport size photographs from individual are taken; in case of firms photographs of all partners are taken. Application must sign specimen signature sheet and give Authorized Officer accepts the application

Step 4: Minimum balance is deposited and only cash is accepted

Step 5: Account is opened and a Cheque book and pay-in-slip book is given.

5.2.2 Cheque Clearing

Crossing of the cheque. (Computer) posting of the cheque. Clearing seal & proper endorsement of the cheque. Separation of cheque from deposit slip. Sorting of cheque 1st bank wise and then on branch wise. Computer print 1st branch wise & then bank wise. Preparation of 1st Clearing House computer validation sheet. Examine computer validation sheet with the deposit slip to justify the computer posting.

5.2.3 Loan Section

• Meet with applicants to obtain information for loan applications and to answer questions about the process.

• Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.

• Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.

• Review loan agreements to ensure that they are complete and accurate according to policy. • Compute payment schedules.

5.2.4 Foreign Exchange

• Opening letter of credit against commission for importing industrial agricultural and other permissible items under council board.

• Opening letter of credit on the principle of sale, on the principle of under wage earner scheme.

• Handling of export /import document. • Handling inward and outward remittance.

5.2.5 Different Aspects of Job Performance

Job performance depends on many factors like job responsibility, working condition, knowledge and expertise on the work activities; job satisfaction etc. The specific responsibilities of my job were not so tough to do. The working environment at UCBL Bank was very friendly, which helped me to consider myself as a part of my jobs with greater satisfaction. Sometimes the job seems much boring. I could perform well due to the cordial assistance from all of the associates of UCBL Bank.

On my 12 weeks of internship period on UCBL Bank, I have taught practically lots of things those I have learned on theoretical courses. Though there I got differences sometimes but there were also some parallel things. Really this practical experience helped me a lot to learn more new things. Hence, in my future life all these will be a valuable experience for me.

CHAPTER SIX: LESSONS FROM INTERNSHIP

6. Lessons from Internship Experience

Resilience was the important lesson I got with a highly pressured working environment to adapt. The management and leadership competency includes the ability to work under pressure, such as with

impending deadlines and for prominent clients. Resilience under intense pressure was also caused often in the form of changing deadlines and dealing with new information that comes to light.

A global outlook was another factor I learnt, is not just about speaking to an international client or partner in their language; it is about being able to relate to them and understand their market. I had to show my organization that, I can identify a key event or socio-economic trend that will affect the markets in another part of the world.

I learned how to manage my time effectively, and I learned innovative means of selling and promoting the services bank offered. I developed the means of testing and evaluating a given service as well as how to change and adapt techniques to suit the desired end goal of the business.

I also learnt many financial tasks. My duties included assisting in payroll, accounts payable, reconciling bank accounts, entering customer data into software.

I also got trained on and learnt oral and written communication skills (writing various letters), customer service skills (front desk), leadership skills (taking the initiative), teamwork skills (working in a small office) and organizational skills.

6.1 Interaction with Supervisor and Coworkers

At the first day when I met my supervisor I felt he is very punctual person in the branch and he is the Manager Operation in the branch. He was always busy with his work. As it is a new branch there were no available employees in the branch. In the branch there were only five departments and in total 18 employees. All are very friendly and cooperative. Both Manager and Manager Operation are very much caring to their intern employees. They always groom their intern’s responsibility. All the coworkers are very friendly and helpful. They always tried to give me work and trained me up how to done that job. In every week I used to work in different departments and build up my skills.

Observations from interpersonal relationships;

• Newcomers are treated quite well unlike many other organizations.

• Here the environment and atmosphere of work is very friendly. Everyone help each other

when needed.

• The bank has the provision of internship program but there is no organized structure for

the internship program. The bank can properly utilize the internees at minimum cost.

6.2 Dealing with Difficulties

The hurdles came along when I had shift from one department to another. I was assigned in different departments such as, General Banking, Foreign Exchange, etc. I had different tasks for different departments. Each time I was introduced to a new department I was given training newly. For instance, General Banking was about helping clients on filling up accounts, providing customer’s product related information, providing assistance to customers according to their needs, etc. On the other hand Foreign exchange banking was about foreign and local currency exchange. It was little difficult for me to switch to different departments. Moreover number of employees is few in the bank, so work pressure was huge.

While doing work in bank, I faced many difficulties. Such as,

Dealing with versatile customer: In this bank I faced a lot of customer. Bashundhara R/A is totally business related area and During My internship I did deal with few big farms such as Bashundhara Group and in the same time I’ve faced small consumer. I also did some other and investment related work. So it’s hard for me to memorize all at a time about what I did and that was a huge problem for me.

Do not have any Marketing related position or worker where I can learn something & doing mostly Finance related work while I am from Marketing major: In this bank most of the work I did was Finance related work like General Banking etc. I’ve learned so much about Finance. But it would be better if I’d have chance to work under Marketing Department But there wasn’t any Marketing related position only except the Sales or any worker where I’d learn something.

Transportation problem: Though Bashundhara R/A is so far from my home because I live in Shyamoli. They don’t have any transportation facilities. Sometimes I used to go by bus and sometimes by CNG. That’s why every day in the end it’s become so hard for me to concentrate on what I was doing because I felt so stressful.

6.3 Differences between Expectation and Experience

I expected that, in the banking industry recruiters only focus on intellectual ability but I experienced that, Banking recruiters do not judge intellectual skills by academic grades alone: they like to see that whether an employee can apply the knowledge to practical situations or not. For example, I completed an academic team project as part of my degree; it is likely that the whole task was divided up into small tasks. An intellectually curious person would not simply complete his own objectives, but would instead take a broader interest in the work of their colleagues, and how their own segment fitted into the whole. Therefore I also had to look into my colleagues’ task and the process by which they completed.

Secondly, I expected that, I would be assigned to a specific department but for me in reality there was no such rule like that. I was shifted from one department to another. It was a great experience though.

i. The Positives or The Brighter Side (Pros): My actual task was to work on, not just mere photocopying the papers of my

supervisor. I had to deal with flexible customers like an executive level officer. I was involved in account openings of the customers, in cash section, collecting

bills and cheques. As I was the youngest among all in the branch I was treated like a younger brother

like my colleagues and my supervisor. The internship was paid. It encouraged me to work even more

efficiently. I had to step inside the office sharp from 10am to 7/8pm. Due to this strict rule I

became an early riser and became very punctual. I had permanent desk where I could work on, as a result of which I did not have to

move here and there in the office to look for empty desks to sit and work.

ii. The Negatives or the Dark Side (Cons): I wanted to work practically in the department but they did not allow me to

work there as they do not allow people without experience to work in every department in a vast way.

Every day I have to work a lot especially last 2 week if I completed my task earlier my supervisor gave another new work which was horrible.

6.4 Influence of Internship in Carrier Plan

After doing that Internship I found that I would like to work in the Foreign Exchange department. If I had not pursued that Internship, I would have ended up with a job I did not like. Internship gave me the opportunity to apply fundamentals learned in the classroom to real-world issues. It also gave me an in-depth analysis of what it is really like to work within the field of study. Lastly, the Internship gave me an edge against competition when entering into the workforce. Internship was the first stage which helped me to develop my professional interest. The only reason I chose to do an Internship to gain valuable work experience in the field of my major. I feel like my Internship mostly benefited my career goals by giving me experience in what a job in marketing would really like to be. Also, I think this experience prepared me to better obtain a job in my career field and to succeed in that career.

6.5 Redoing Internship

If I had to redo the internship then I will definitely reapply here. Because, UCB has helped me to learn many things. I wanted to know more but due to lack of time I could not learn more things. So if I rejoin here, I want to know more and in a broad concept about the entire department which I did not know because of lack of time. I want to know more about loan and general banking department as well as how to open a letter of credit as it is a very big department. I want to know how they make transaction in bank. I want to talk to them personally because I want to know more about them. I have a desire to work in foreign exchange department. How they work and the whole software procedure which I could not learn because of confidentiality problem.

CHAPTER SEVEN: THE CONCLUDING PART

7. SWOT Analysis of United Commercial Bank Ltd.

SWOT is an acronym for the internal Strength and Weakness of the firm and the external as well as

environmental Opportunity and Threat facing that firm. So, if we consider UCB bank as a business firm

and analyze its strength, weakness, opportunity and threats the scenario will be as follows:

Strength Weakness

Strong relationship with customers Promotional activities of this bank are

Friendly Working Environment up to the mark

Maintaining good relationship with Insufficient brunch

the new and old clients Insufficient ATM booths

It provides services even after the

No internet banking Poor marketing and

limited advertising agency

banking hour to special clients

Well known to the market

Online Banking Services

Service First

Customer based products

Opportunities Threats

Growing market Growing competition in the market

Increasing awareness of Islamic Political instability

banking among the clients Government Plan and regulation

Skilled workforce Public banks offer High interest rate

Mobile banking

Fig-17: SWOT Analysis of UCBL

7.1 Major Findings

UCB Bank does not give their high attention on advertisement at Newspaper, TV, and Radio etc. As a competition market it is too much important for any organization to increasing their advertisements procedure to provide information to the clients & Probable clients. Advertising is continuous process; it does mean that when a brand becomes successful then it doesn’t need advertising.

No internet Banking. Now a day’s internet is highly essential for any kind of work. If people can use internet banking from their smart phones or computer it will be very useful for some customers, it can save both time and money. So UCB should offer some services of internet to fulfill customers demand.

According to some clients introducer is one of the problems in the bank. Marketing officers are considered to be engaged in harassment activities to the customers for introducing their name to fulfill their targets. Every Marketing officer has introduced certain number of customers to fulfill their own individual target, so to fulfill their target sometimes customers get confused by some of the marketing officers.

Some Unqualified workforce in marketing department. Marketing department is one of the very important departments of any organization. Here in UCB Bashundhara R/A branch there are some unqualified and not fully trained officers working for marketing department. So UCB should monitor their performance and get well trained for the better customer service.

In case of opening an account some big parties come to open accounts in reference with the high official of the bank. They do not submit all the necessary papers in the time of account opening so it crates pending account and bankers find it difficult on later to collect necessary papers.

UCB Bank does not give much importance to the Customer Relationship Management (CRM) tools through which they could acquire more depth information of their prospective customers. Now-a-days these customer utility tools are widely being used by the Telecom companies as well as most of Multinational Banks. Therefore, UCB should be much focused on integrating their services as well.

7.2 Recommendations

The bank should go for advertising about their services and facility for the clients. In recent days without proper knowledge people do not go for any service. People compare other options too and take the leverage, so they have to understand the power of the advertising and should promote their services more by advertising.

The entire department should be well informed regarding their goals and objectives. It is essential to execute company objectives into individual target. So if anyone of the Bank has the idea what’s their main target they can easily reach their target goal. It can be very helpful if they have internal formal meeting at least once in a month.

The bank should introduce more promotional activities at TV Channel. TV commercial is one of the most effective medium of advertising. With TV commercials people are more connected the product or services. It’s an easiest way to promote your brand in mass population. UCB didn’t use that much TV commercials unlike other Banks.

To meet today’s demand of the customer; the bank should introduce Mobile banking system. Technology changing day by day like bKash first lunching mobile banking system and most of the Bank lunch their own mobile banking system. So to cope up with the modern trend UCB should enhance and enrich their mobile banking system called Ucash as early as possible because still Ucash is not as useful as bKash.

Establish more ATM network & maintain sufficient in ATM booth or leasing it. In Bangladesh Dutch Bangla Bank, Standard Chartered Bank and Brac bank have more ATM boots than others. So UCB should establish sufficient booths to maintain their work effectively.

7.3 Conclusion

UCB is today’s one of the leading private banks in our country. After the establishment it brought lots of new product and services for its clients and the progress of UCB is really satisfactory in our banking environment. From a mainly feudal agrarian base, Bangladesh has undergone a rapid economic structural transformation towards manufacturing and services.

Providing credit to clients is a core business of UCB. It is also the pioneer in offering world class credit/loan facilities for the people of Bangladesh. It has 110 branches in urban, suburbs and rural areas in the country.. In this report I have illustrated different aspects of UCB branding services and tried to find out the problems and the processes to solve the problems.

Banking sectors no more depends only on a traditional method of banking. In this competitive world of banking sector has stretched its wings wide enough to cover any kind of financial services, not only from the local banks but also from the foreign banks, the banks of today face a tough competition. The major tasks of banks for banks to survive in this competitive environment are by managing its assets and liabilities in an effective way. To make the assets especially loan and advances banks must have to be more cautious and otherwise these assets will become a burden for the bank. To have fruitful investment bank must have to do marketing/promotions of their product perfectly.

7.4 References

United Commercial Bank Limited, Bashundhara R/A branch.

Address: Plot-06, Block-A, Bashundhara Main Road Bashundhara R/A, Dhaka-1229

www.ucbl.com [The official website of UCBL]

http://en.wikipedia.org/wiki/Bran d [Information search]

Mohammdad Shafiqul Islam, Senior Executive Officer & Manager Operation as well as my supervisor. Email: [email protected]

B.M. Borhan Uddin, Officer & my direct supervisor. Email: [email protected]

Many official documents [Collect from my supervisor]

UCBL various circulars.

UCBL Annual Report 2009

Annual Report of UCB 2013

[January- June 1st half year annual report]

mailto:[email protected]

mailto:[email protected]

http://www.ucbl.com/

7.5 APPENDIX

WEEKLY JOURNAL

WEEK-01

Introduction

As the first week of my internship started in a bank named United Commercial Bank Limited (UCB), I was very much nervous as well as excited. I was appointed in Bashundhara R/A branch beside GPHOUSE and near to NSU. Therefore, it was very much delightful for me to do my internship as I have taken two courses with my internship. Firstly, getting into a renowned bank such as UCB as an intern is a great matter of joy. Thus, on September 9 th, 2014 I joined there as an intern to complete my graduation from North South University (NSU) and to understand the practical life in reality with the concepts and theories I have learned from my university. As I was given the offer/joining letter on September 8 th, 2014 thereof, I could not join on the same day due to time trouble but I joined there from the following day as well as I was given the permission of doing my internship three days a week due to two days of classes in NSU during every MW time period. As a result every Sundays, Tuesdays, and Thursdays are officially permitted to be my working days in UCB.

Key Resources

Date Description(Tuesday)09.09.2014

This was the first day of my internship. Today I went to the office at 10 am sharp. At first, I met the operation manager of the bank with my joining letter. He asked me some question and took me to the General Banking Division. Then he introduced me to the SO named Mr. Ziaur Rahman and tells him to teach me some GD work. Then he introduced me to all the members of GD, Cash, Credit, Accounts, Reconciliation, Foreign exchange, Retail, and LC. After few moments I found that all the members are very friendly with me but they are extremely busy with their work because of fewer employees in the whole branch. Then few hours later I met my direct supervisor for the first month who is an officer named Mr. Waliullah Babu. He was very friendly as well. Then the operation manager gave him a duty to introduce me to all the bank employees. Then the orientation began for rest of the day.

(Thursday)11.09.2014

On the second day when I entered into the office my fellow supervisor gave me an application form and taught me how to open the accounts of our clients. I observed that very carefully. Then I asked my supervisor that which software they use in banking activities. Then he replied me that they use FLEXCUBE which was not used earlier and a recent alteration in their banking activities as per international

working system. This is not very much user friendly banking software. I also found some of the reputed bank is using this software as well. This software has lots of option but this is very slow and critical. UCB does all the work centrally. If they want to open a client’s account they process all the formalities and then send it to the head office and take the permission to open the account.

Recommendation

There is no recommendation I would like to provide on the very first stage as this was my very first week. Eventually, I enjoyed the place and people out there warmly welcomed me which is indeed a very big matter to comprise.

Learning

As this was my first week, I was introduced to every single employees of United Commercial Bank Limited. I was taught how to open up bank accounts for the clients. I was also taught how to write down the pay orders etc. I was given a little knowledge on the FLEXCUBE software which is indeed a greater thing to learn in case if I want to enrich my career in the banking sector.

Conclusion

As a business student I was always motivated to take new challenges. Entering into a bank for the first time as an intern is indeed a greater thing for me. Even though being so nervous everything became so easy for me to settle in. As a student of marketing I was always taught to deal with customers. That’s what I used to do in the general division by managing, answering, and giving direction to the customers and even if they behave aggressively, I used to manage them quietly because no matter what happens at the end of the day a customer is always right and brings money to the organization.

WEEKLY JOURNAL

WEEK-02

Introduction

As the second week of my internship, I was very much aware of the work load would be given to me. Therefore, I had a mindset as well as prepared to work under huge pressure. The second week was not as enjoyable as it was in the first week. Due to huge workload I had to work till 7:30 pm and was engaged in retail marketing. Hence, the period of retail marketing gave me a chance to show my creativity as well as enhance my marketing concepts with reality.

Key Resources

Date Description(Sunday)14.09.2014

Sunday was a very busy day of the week. When I entered the office my supervisor sent me to the Cambrian College to collect their account form. Cambrian Collage teachers were opening their salary account with our bank. To open up these accounts was very much profitable marketing for this branch. It was a very hectic day for me because of going to the Cambrian Collage. I collected many forms and was back to the bank to fill up all the forms carefully and submitted to my supervisor.

(Tuesday)16.09.2014

Last day my supervisor asked me to go to Cambrian College and collect some more account opening forms again. I went there on time but the collage teachers were very slow to complete the simple tasks. They did not fill up their forms properly that’s why I was doing on behalf of them and got late for my office. I entered into the bank after lunch period and gave the input of all the data I have collected on Flexcube.


This was the last day of the week. When I came to the office I saw a long queue in front of the cash and people are submitting something. Then I found out that people are submitting the share IPO. At that time all the employees were very busy to collect that IPO. After the submission time I found out that we received almost 3700 IPO. Now it was time to input all the IPO on excel sheet as per my supervisor’s requirement. After 4 pm I started to do it and when it was 7:30 pm I finished my work completely.

Recommendation

The major problem I have faced was the time constraints. The time was not sufficient enough to collect a large amount of customer forms from Cambrian Collage. Another major problem was UCB does not employ enough employees to this branch. As a very large branch it must have many employees which it lacks. If the system goes by this on and on then the customer satisfaction level may decrease. My recommendation is to increase the employees of UCB Bashundhara R/A branch by at least 5-7 employees.

Learning

As a marketing student I had a real life experience of doing retail marketing and convincing my clients of Cambrian Collage which helped me enrich my marketing skills for my future career. I was habituated to work under pressure which helped me understand that the reality is way hard than imagined. Therefore, as part of my internship I got to taste the future from this. Last but not least, by working with the excel sheets I enriched my excel skills which will helped me look forward to do better in soft skills.

Conclusion

Finally, the week was very hectic but I enjoyed doing the work. Learned a lot from my supervisor regarding how to convince a client and grab the money out of their pocket. The environment was so friendly therefore did not feel helpless but made the best out of it.

WEEKLY JOURNAL

WEEK-03

Introduction

As the third week of my internship, I was little bit habituated with the internal environment of United Commercial Bank Limited. I was at ease with every other employees of the branch. Taking advices or asking for critical issues was a piece of cake for me by then. Nothing was uncomfortable anymore. Though I was going through huge workload, I was adopting the environment like how everyone else has been doing.

Key Resources


Sunday was the beginning of third week. Last week was very hectic week due to ongoing IPO issues. But this was not like that. On Sunday my supervisor summoned me to work and synchronize all the account opening forms collected from Cambrian Collage. I and my office colleague prepared all the form in sequences and submitted to the operation manager.

(Tuesday)23.09.2014

On Tuesday I was completely busy with opening bank accounts of NSU students. Most of the students were coming by themselves without doing any marketing campaign. Besides, the branch manager gave me a KPI of collecting new student accounts of five students every week from NSU. I was doing my work accordingly and invited friends and juniors from NSU one by one to meet my KPI target. This was another part of marketing I was doing which helped me learn the telemarketing.


It was not a very busy day for me because my operation manager and my direct supervisor were not present in the branch. They went for a special meeting with a high valued client. So I eventually had no work to do. But I asked for some works and I was taught from one of my fellow colleagues about the KYC form. KYC meaning Know Your Customer, a customer information form given by Bangladesh Bank to input all the information of a customer according to his/her salary as well as cash transaction basis centrally. A pure desk job without any need of software. Therefore, I was filling up a large number of customer account opening forms in

the KYC forms which ended up my whole day.

Recommendation

If I think or observe as a customer or an end-user, I must say that the bank still runs on traditional ways to much extend. They maintain traditional registrar books for the entries as well as no ID card punch-machine is equipped in the entrance. Employees are manually signing in. They do not have any digital queue system like Standard Chartered or HSBC banks for the General Banking Division. Every customer comes and waits for over and over again. One employee is occupied with three or four types of works which lack efficiency and can lead to errors. The work speed must be moderate to avoid work-errors thereof; each employee should not be given more than one or two types of work at a time.

Learning

This week’s learning was how to fill up KYC forms which is indeed an interesting work to do. I also learned how to check the current balance of a customer by using the utility tool. An idea of how to verify properly a National ID card whether it is valid or artificial was given to me as a very important lesson regarding fraudulent issues. I was also taught about the DPS and FDR schemes and provided my service accordingly.

Conclusion

A bank or an organization cannot prosper without its customer. Segmentation is very important for achieving the organizational goal. Therefore, I observed how the segmentation process is followed in the banking sector in UCB. The high valued customers are served with proper care whereas; low-end customers are not served with proper dedication. Profit making along with time consuming have become a very common scenario for every gigantic organization. Nothing is different in the banking sector as well. People with higher amount of transactions are treated with tea/coffee but the low-end customers such as cleaners, guards, and other office service staffs or floor attendants who have their salary accounts in UCB are not treated well and fall under discrimination. No matter what happens, we must not forget a customer belongs to any cast, creed, or color is a customer and will always bring profit to the organization even though in a fewer amount. The process of my internship helped me observe so many things that I would love to eradicate any sort of discrimination in my future career.

WEEKLY JOURNAL

WEEK-04

Introduction

As the last week of September during my internship period, I was expecting the eve of Eid holidays on the first day of my office. Everybody was very happy to enjoy the holidays. But the main challenge before the Eid was to complete the tasks of NSU students’ tuition payments. Therefore, we were assuming a large amount of rush by the morning. Overall, the week was literally hectic for me and for all the employees of UCB Bashundhara R/A branch due to the collection of huge amount of cash from NSUers. However; I was happy that the first month was just about to end of my internship period.

Key Resources


For the very first time I witnessed that UCB Bashundhara R/A branch was overloaded and crowded by NSU students for their tuition fee purpose. As every student had to pay their tuition fees on time and they were literally overcrowding the entire General Division section. Students were not maintaining the queue properly and were messing with the place. I was busy in doing the pay-order disbursement and calculations. I was also opening bank accounts for the students side by side. Drafted pay-orders and gave the customer receipt one by one. The cash counter was burst with chaos. Due to huge workload we almost felt that was a very robotic day for each and every one of us.

(Tuesday)30.09.2014

On Tuesday I sent some Thanks letter to our valued clients. Today my supervisor was in leave that’s why I had less work pressure. Then the Sales in charge summoned me and asked me to go with him along with another intern. Then we went to the office of Bashundhara Group and met a high official for a business purpose. We got the permission to arrange a fair in their office premises. When we came back to the office we saw there were two Bangladesh Bank Audit officers in our bank and they were surprisingly visited here. The entire employees were feeling edgy and our branch manager was quiet tensed as well. After that I faced a client who wanted to open up an account with us but he had no introducer to introduce him with our bank. That client was requesting to banking with us but we

could not do anything for him because of rules and regulations. Thus how I ended up my day.

Recommendation

There is not enough space for the customers in the General Banking Division. Therefore, customers have to face difficulties before the last date of NSU tuition payment regarding the space for the queue. It becomes very chaotic when customers cannot find a proper queue for the exact purpose. Starting from the cash counter, UCB offers four/five queues but none is separated with a digital bill board or any name plate. So that, the customers get confused and the entire place becomes a massacre every single time. The queue arrangement process should be more digitized so the customers do not need to seek for queries. Even in the front desk, there are no name plates given for the direction. If someone comes for western union or account-opening or balance checking or demanding the statement of current balance or transfer or cheque issue purpose then he/she has to ask individually where to go every single time over and over again. This matter should be resolved with proper care so that the customers won’t be irritated anymore.

Learning

This week’s learning was how to handle pressure and work with that. By working for hours and hours most of the employees including me and the other intern forgot to have our lunch on time. We kept ourselves busy in doing the activities for whole day long continuously. Again, when we met the high official of Bashundhara Group I was mesmerized with his behavior. He was basically telling us about their organization and how they work. Being a high official how he treated us was not so important whatsoever. But his excellent behavior attracted every one of us and I specially learned lessons that never disrespect anyone even if they don’t match your background ever.

Conclusion

I have desired of a banking professional life every time. But the work pressure always makes me very worried each time I think of it. But as my major is in marketing therefore, I will have to take challenges and take it easy. Otherwise, the core value of my major will not be fulfilled. After completing a month in the bank my desires have become stronger. I feel that I can contribute to this bank even being an intern. Hence, I am now enjoying my work and doing it accordingly. The eve of Eid holidays made me feel happy due to both side by side pressures of attending classes, giving exams, and doing office. I have been learning many aspects of the banking sector from my internship. Thanks to my BBA program for giving me the opportunity to experience such field where I would like to enhance my career. This can be a huge breakthrough for me to attend the bank interviews when I will be officially a graduate.

WEEKLY JOURNAL

WEEK-05

Introduction

After spending a nice vacation of Eid I was completely up to start my internship in a very good mood. The first month was very exciting, nervous, enjoyable, and stressful as well however; I was adopting the nature of working which enhanced my theoretical skills gained from NSU to match with the real life in-hand experience by the help of internship process. This week I had to go for another marketing/promotional activity which redesigned the infrastructure of my marketing capabilities. Talking to various kinds of people with different mentality and opinions they possess made me think differently regarding the concepts of marketing I learned from course materials and I face in reality.

Key Resources


For the very first time I used Flexcube and gave the input of TP form. TP means transaction process. This form includes the client’s transactions amount per month. Clients have to fill up the approximate amount of their transactions. In our software we had to fill up all the information given as is in accordance with the KYC form. This is the basic customer information which is recorded centrally with the help of Flexcube. I gave the input of almost 200 client’s information in Flexcube whole day long.

(Tuesday)14.10.2014

Today when I went to the office my supervisor called me for brief information about today’s work. He sent me to the BICC to represent the UCBL in Hajj fair. I and my few office colleagues went there in BICC and we also met other colleagues in our stall at BICC. We attend there for marketing/promotion purpose and we wanted to open a new account from HAAB association. We were there till 6.30pm and then got back to office and submitted the applicants’ forms.


On Thursday I prepared all the papers of Hajj applicants and gave the input of it in the FLEXCUBE. Then I authorized it to my General Bank in charge. He gave me the permission to activate the accounts and take the authorization from the manager. After that I entered the information of TP and KYC in FLEXCUBE. My

top management sent me to UCBL DESCO booth to collect DESCO bills. After collecting the bills I came back to my branch and input the bills in excel sheet. Then the printed copy was sent to be authorized by my manager.

Recommendation

As per the week, I would suggest that the front-desk employees need to have more training regarding proving front-end service to the customers. The new entrants such as ACOs (assistant cash officers) joining in General Banking should have every kind of training regarding the utility tools otherwise they will take time over and over again just to know how the software works which is indeed an irritating factor for the customers to watch. I observed a new ACO joined in UCBL Bashundhara R/A Branch without getting any soft-skill training. When I asked her she replied she was supposed to get in-hand knowledge by the existing officers in the attachment which is ridiculous. A bank must not forget that the customer satisfaction is a very important thing to achieve. If the customers get irritated by seeing these sorts of activities then it may not be greater good for the bank.

Learning

This week’s learning was how to enhance my marketing skills learned from NSU and apply in the market place. If I match the activities I learned from UCBL and NSU then I completely understood real life Service Marketing (MKT412) by talking to different types of customers in BICC. I learned about real life Sales Management (MKT445) by selling up the client accounts for UCBL. I got to learn about Advertisement/Promotional Marketing (MKT337) by getting involved with promotional activities as well. All the lessons or training I have gone through out this week can be matched with the concepts of marketing I learned from NSU. MKT412, MKT445, also MKT337 are very crucial sections of the core Marketing. With the help of my internship process I am able to apply my knowledge gained from NSU in the real world with the help of UCBL.

Conclusion

Internship is a requirement to acquire Bachelors of Business Administration degree from North South University. The main purpose for internship is to provide business undergraduate students with an experience of professional environment, before they join the country’s workforce.

Five weeks work at UCBL Bashundhara R/A Branch provided me with an insight of the banking industry of the country. Based on which it can be said that the bank is on the right track to build a fruitful brand equity. It can achieve to the desired position through conducting a proper marketing research to gain consumer insight and implementing as per indicated by work findings.

WEEKLY JOURNAL

WEEK-06

Introduction

As part of my internship process in United Commercial Bank Limited I have observed that employees of reputed multinational companies and large local corporations are the customers of this bank. Even employees of medium sized or mid-range local corporate such as reputed schools and colleges, insurance and leasing companies, Non Government Organization, reputed trading firms and all other salaried persons are also the customers of UCBL Bashundahra R/A Branch. Any tax paying businessmen of reputed and self-employed tax-paying individual having a reliable source of income are regular customers of this bank as well. In case of understanding how bank works and what core values that a bank acquire I must work in more details. Therefore, I was given task of bank audits to understand the core activities in more details this week.

Key Resources


Today our operation manager called me along with another intern to give some work. He asked us to organize a huge number of cheque books of our honorable customers which are not collected for a very long term. Keeping the cheque books is a very risky matter for a bank. If anything unwanted done by misusing the cheque books then bank has to take the full liability of the fraudulent activity and pay thereby. As a result, we started organizing the outdated cheque books consecutively and collecting the information of customer name, mailing address, cell number and input in a excel sheet for further assistance. It was almost 1000 cheque books to organize and the further work was to call them up to take their stuffs back. Finally, after the lunch we started to inform the customers over the phone one by one to get back their cheque books from our possession and noted down information needed be.

(Tuesday)21.10.2014

I was asked to work under a junior officer for the rest two days of the week on auditing purpose of our customers as well as private firms having accounts with us for the LC or any other relevant issues. Therefore, I started working and kept eliminating the defaulters among our customers to let them informed about recent

ongoing issues. They were asked to be informed by me to submit their important documents for doing banking activities. This auditing criterion is established by Bangladesh Bank and the Head Office of UCBL runs the process to eliminate every single obstacles. By working with this I have gained vast knowledge regarding different type of companies and what are required for that. As a business student this can also help me have a great knowledge on what to do when starting up a new business in the near future if needs be.


On Thursday I was sent to the UCBL Head Office for the internal auditing purpose with my direct supervisor. Then we went to the UCBL Pragati Sharani Branch for the leftover works. After performing the tasks properly I with my colleague came to the operation manager to submit the files we have completed and complied. Emails were prepared to send each and every single private firm requesting to submit the necessary documents to continue banking with UCBL. Individuals were called over the phone and texted to visit us.

Recommendation

There is no efficient management information system. There is lack of improved technology. There is no customer complaint desk for this reason sometimes it occurs as an irritating problem. Application of modern technology such as computerization is not sufficient. There is lack of training program for the UCBL personnel. Lack of fair entrepreneurial division. Some banking operation is not changed at all, which is very painful for most of the customers. Internal conflict of interest within the employees which is not a good sign for the development of UCBL.Therefore, introduction of such services would be an upgrade of facility to the customer.

Arrange more employees to reduce the pressure. UCBL must do TVCs so that every initiative of the bank can go at the door of customers. Training programmes should be taken more seriously. Its facilities are very important to faster the activities. Try to remove any conflict within the employees as early as possible.

Learning

As part of my auditing I got to learn many things regarding some common requirements and steps that are followed by UCBL in general are:

For individual:

Application on the prescribed form. Furnishing photographs. Introduction by an account holder.

Putting specimen signatures in the specimen card. Mandate, if necessary. National ID or Birth Certificate or Passport or Driving license.

After fulfilling the above formalities, United Commercial Bank provides the customer a pay-in-slip book and a cheque book.

For Partnership/Proprietorship Firm: Partner’s signature. Partner’s name. Trade license of all partners. Filled out application from stating about the name and address of firm. Partnership deed. Undertaking/declaration about the partnership is taken by the bank in a white paper (for

proprietorship firms). Account agreement form.For Limited Company: Certified true copy of the Memorandum & Articles of Association of the company. Certificate of Incorporation of the company for inspection and return with a duly certified

photocopy for bank’s records. Certificate from the Registrar of the Joint Stock Companies that the company is entitled to

commence business along with a duly certified photocopy for Bank’s records. Latest copy of Balance Sheet. Extract of Resolution of the Board, General Meeting of the company for opening the account and

authorization for its operation duly certified by the Chairman/Managing Director of the company. List of Directors with addresses. Authorized signature & Name.

Conclusion

Banking system occupies an important place in a Nation’s economy. A banking institution is indispensable in a modern society. It plays a vital role in the economic development of a country and forms the core of the money market in an advanced country. In recent times the banking sector over the world has been undergoing a lot of changes due to deregulation, technological innovation, globalization etc. Bangladeshi banking sector is lagging far behind in adopting these changes.

WEEKLY JOURNAL

WEEK-07

Introduction

This week I was completely involved with the Clearing department of UCBL Bashundhara R/A Branch. This is very serious issue regarding cheque issues therefore; I had to be very careful completing my tasks. Meanwhile I also served the customers who came for the cheque clearing purpose.

Key Resources


Tuesday)28.10.2014


On Sunday I was working in Clearing department by the order of honorable branch manager. I was also ordered to work for the entire week in this department to enhance my banking knowledge. It is a department which is completely involved with the Bangladesh Bank. By collection of a cheque in any other bank through Bangladesh Bank needs clearing. Every bank gets the cheque from different bank which is sent to the zonal branch of the bank. Zonal branch makes a sheet of this cheque and put the total amount on the cheque. The officers related to clearing always attend the meeting in the clearing house of Bangladesh Bank. And every bank submits their cheque list by the floppy disk to the Bangladesh Bank. The officers are distributed the cheque to the related bank officer. Here own bank is getting the cheque which is classifying (cheque, pay order, demand draft/DD) by branch and total amount of the cheque are put in the back side of the cheque. This was how the morning session ends.

Trainings include causes of disowner a cheque: Insufficient fund. Signature of related officer. Cheque submitted by wrong way. By an essential notice. One cheque is going to another bank. To submit wrong account number. Show the wrong date.

At the evening session the officer are distributed the disowner cheque and then own bank gets some disowner cheque which was distributed to the branch representative. This is how the whole process concludes also the week conceded.

Recommendation

Scrolling is not so important. Although few bank maintain scroll system for their own safety. If a client wants to deposited money in his account he must go to the scroll officer. Scroll officer at first see the a/c no y2, name, signature and amount are put in the deposit book properly. After that scroll officer puts the entry of the amount in the scroll registry, the serial number is then put on the deposit book.

Learning

Strategies:Utilize all available resources to develop various plan, policies and procedures in each of the objective and goal areas.Synchronize and steady growth of the bank.Implement plans, poleis and procedures.Utilize team of professional employees.Goals:Develop a plan for offering better customer service.Develop a realistic deposit mobilization plan.Develop appropriate lending risk assessment system.Develop capital plan.Develop a system to make good advances.Develop appropriate mgt. structure, system, procedures and approaches.Develop scientific MIS to monitor banks activities.Business Objectives:Ensure 100 % recovery of all advances.Ensure a satisfied work force.Make sound loan and investment.Build up a low cost fund base.Meet capital adequacy recruitment at all the time.Focus on fee based income.Install a scientific MIS to monitor Banks activities.Adopt an appropriate management technology.

Conclusion

The more I am working for this bank as an intern, the more I am able to many new things of banking activities. Most of these are not mentioned in any book or course material. Therefore, the experience of doing internship in a bank makes me more capable of being skillful in bank jobs in the near future. The internship process can also be termed as a trial-basis experience before starting the job in a bank.

WEEKLY JOURNAL

WEEK-08

Introduction

This was the end of my second month and I was completely out of General Banking Division. Now my duty was to get introduced to each and every single department as well as to work with them. To know about banking in more details it was very much important to experience the other sides of the bank. UCBL Bashundhara R/A Branch helped me very much in regard to this matter.

Key Resources


The accounts department is the most delicate and the most confidential department in a bank. The main task of this department is to record all kind of transaction of the branch, confirming accuracy, preparing statement etc. under the computerized banking system, today the clean cash statement and the supplementary statement is in party ledger vouchers are printed of the computer. I was completely shifted to the other sections apart from General Banking. On the first day of this week I was given an excel sheet full of thousands of data called “SunDry” Account to complete the reconciliation. That’s how I ended up the entire day.

(Tuesday)04.11.2014

The other day I was given tasks full of L/C. Here, I was working as a co-worker under a Senior Officer Named Md. Hafizur Rahman. Firstly, he briefed me regarding L/C and what it does. Before opening L/C account many things must be verified properly. Hence, I was involved with

L/C application properly stamped, signature verified and margin approved and properly retained.

Validity of LCA entitlement of goods, amount etc. Indent/pro-forma invoice signed by the importer and indenter/supplier. Conversion and rate of exchange correctly applied. Charges lick commission, Postage, Telex charge, if any recovered. Insurance cover note in the name of issuing bank –A/C importer

covering required risks and voyage route. In case of “Usance L/C”, mentioned rate of interest clearly in the letter

of credit.


On Thursday I was taught and trained on “Maintenance of Cash remittance”. The In-charge of Cash Department maintains the cash remittance according to the rules of the Bank. If the cash manager thinks that the amount of money crosses the limit, then he calls the Principal Branch to take the extra amount of money or vice versa. Inter Branch Credit Advice (IBCA) is used for such transaction.

Recommendation

Offers more facilities to the customers such as Debit card, ATM booth etc. General working conditions ought to be improved. Should have own photocopy machine in each floor. Should increase the number of computers as well printers with proper UPS facility. PcBANK2000 database software has no option for preparing Bank statement. It needs to be upgraded in order to remove this kind of problem. The branch still works very manually; to accelerate the whole branch it should be automated. The Bank should install highly automated banking software Flexcube in all other branches of UCBL to add value to its service. This will allow other non-flexcube branches to be more active and work side by side like the UCBL Bashundahra R/A Branch or Head Office.

Learning

The daily function of an accountant involves: Posting transfer from one account to another account. Preparing of the supplementary. Posting of various transactions in the computer that occurs throughout the day.

The periodical function of the account department is to prepare different types of statement for its own branch, head office, Bangladesh bank. The statements being:

Daily position. Daily resources position. List of all transaction in a day. Comparative resources position etc. Cash cum day book. General ledger. Weekly statement of affairs.

Conclusion

There are positive and negative sides of United Commercial Bank Limited. Although having a good condition the bank lacks revenue comparing to other banks due to their some tradition process. If the

entire process can be modified like the Multinational Banks then it can add greater value to not only this branch but also this bank as well.

WEEKLY JOURNAL

WEEK-09

Introduction

In the ninth week at UCBL, I was assigned to do some major activities. Depending on my work my supervisor cum senior’s work would be done. Therefore, I had to be very much cautious regarding handling the activities with more care.

Key Resources


I was assigned to do thousands of posting in the utility tool of Flexcube. I was doing this for the entire day and then reported to my senior.

First, I entered the account number of our customer registered in Flexcube.

Then I put the scroll and tapped on the edit option. Finally, I clicked the posting option and have done the needful.

(Tuesday)11.11.2014

I was given a task of internal audit with a vast concept. My duty was to check and verify the following things:

Checking the vouchers if correctly authorized with UCBL transfer seal.

Seal of posting attached properly. Signature of cash officer was given properly. Seal of cash dept. attested. Signature of manager operation and branch manager are given. Signature verification seal properly attested in the cheque slips. Double order cancels marks properly put in the cheque slips.


On Thursday I have done the following things: Went to the operation manager to authorize the vouchers with UCBL

transfer seal. Attached the posting seal if not found. Went to the cash officer if signature not found. Cash dept. seal attested if not found. Signature of manager operation and branch manager taken if not

found in any voucher. If no signature verification seal attested as well as double order cancel

marks not found in the cheque slips then sent them for re-clearing.

Recommendation

In UCBL Bashundraha R/A Branch, the working condition is very well but most of the staffs are not satisfied. Reasons are:

One single officer has to take the entire responsibility of accounts department where he was supposed to work under a senior officer.

Only one single junior officer is held responsible for the card division. There is no cash manager. The senior executive officer himself plays the role of both the

operation manager as well as cash manager. The retail department is kind of steady which should be much smooth. If one personnel takes a sick leave then the work is either stopped or cannot get the proxy

properly due to skill mismatch.I, therefore, recommend increasing the manpower first. Without manpower the branch may lose its revenue.

Learning

I learned the following things:

How to operate Flexcube for posting purpose. How to check existing account of a UCBL customer with the new account number. How to check the vouchers and correct it.

Conclusion

By the end of this week, I am capable enough of checking the vouchers. This is a very important task regarding internal audit purpose. The branch manager, manager operation, and my direct supervisor were very pleased to see me working in the right path and smoothly. Obviously without their help it wouldn’t have been possible.

WEEKLY JOURNAL

WEEK-10

Introduction

In the tenth week at UCBL, I worked under foreign exchange remittance service. Here customer can get the remittance through cash or, payment order.

Key Resources


To get this service customer need to provide photocopy of his or, her National ID and need to provide the name and contact number of the sender. After checking all the documents by the GB (General Banking) officer, he/she provides a voucher to the customer and customer receive cash or, pay order from the cash counter by showing that voucher. Customer does not need to wait a long periods of time to get this service. From my experience I have to say that this bank needs to expand its remittance service. Many people are not getting this service from this bank because this bank supports the remittance only from some specific countries. If they provide remittance from some other countries like Saudi Arabia, Dubai, etc it will bring more profits. They can merge with MoneyGram to provide better remittance service.


Foreign Exchange Department also has responsible for opening letter of credit (L/C), buying and selling dollars, etc. When a company or a client want to open L/C to buy products or, raw materials from other country or, within this country, that client or, the company need to submit an application stating the amount of Dollar which is necessary to buy the goods. The procedure and period of credit payment need to be mentioned into that application and the description of the product(s) and the description of the company from which the local firm will buy the product need to be attached in the form of document along with the application. Then this department contacts with the other local or, foreign bank which is taking responsibility for that firm which is selling the products. That bank will send the actual product description, country of origin, the way of transportations (Road, Air, or, Sea), the vehicle name, etc. Then this department will send a confirmation letter to that bank and give them payment and after getting the confirmation that bank will send product document to UCBL.

Recommendation

Bank should expand their area for getting remittance more widely. If they increase their number of country from where they will get remittance not only they but also the government will get benefit from it. In terms of letter of credit (L/C) known people who have good dealing relation with bank gets top priority.

Learning

When customer receives the product, UCBL informs the client or the company. After they give UCBL the payment with commission, UCBL will provide them the product’s document and by showing that document to the customer they can collect their products.

UCBL papers / documents required for submission for opening of back to back L/C: Master L/C. Valid import registration certificate (IRC) & export registration certificate. Pro- forma invoice or indent. Insurance cover note with money receipt. L/C application & LCA form duly filled in signed. IMP form duly signed.

Conclusion

Foreign remittance means purchase and sale of freely converted foreign currencies as admissible “foreign exchange regulations act- 1947” and “guidelines for foreign exchange transaction – VOL.1&2 of the country. Purchase of foreign currencies constitutes out ward foreign remittance.So we see that there are two types of foreign remittance:1. Foreign inward remittance2. Foreign outward remittance.

WEEKLY JOURNAL

WEEK-11

Introduction

In the eleventh week at UCBL, I have worked under the credit department for the entire week. This department provides loan to the customers. I have learned a lot about how the banks deal in providing loans and collaterally relates with the general banking division in cheque issuing purpose.

Key Resources


(Tuesday)25.11.2014

I had been told to collect the cheques which are submitted to the UCBL Bashundhara R/A Branch for clearing. If a customer submits a cheque(s) which he/she has got from others it can be submitted into the General Banking Department for clearing. Clearing means deposition of the cheque(s) amount into a bank account. If a customer has a bank account at UCBL Bashundhara R/A Branch, he/she will not be charged immediately but if a customer has an account at UCBL but the account is not at the Bashundhara R/A Branch then the customer will be charged and he/she needs to pay the charge at the cash counter.There are many customers who have accounts at other branch and they frequently submit their cheques. This service takes lots of efforts and time. But GB department never hesitate to provide this service. In this department I am responsible to take the charges from the customers and provide them information why we are taking the charges. I have learned a new term called the transfer amount. Transferring the fund from one account to the other account can be done in two ways. A customer can fill up a transfer request form. In that form he or she has to mention both the account number. Another way is to providing UCBL cheques to payee. In the case of transfer the sender or, the receiver should have an account at Bashundhara R/A Branch to transfer money. In this day I have collected some cheques and gave clearing seal in the cheques from other banks. From the clearing and transferring I have learned that the cheque from other banks is subject to clearing and a cheque within UCBL is subject to transfer.I have received letter of other departments and kept the document of each letter. Later on I have collect the cheques gave them clearing and transfer seals. I have collected cheques for clearing and transfers. I wrote down some pay orders


and take some cheque book requisition. If any customer needs cheque books, he or she need to fill up a form named cheque requisition form. On that form the customer need to mention the account name and number and also need to give the specific signature that is used to withdraw money from the bank.

Recommendation

No credit facility is to be released for utilization, if requisite documentation is not available or proper deferral approvals have not been obtained. If there is any inadequacy in documentation as per sanction advice, the Relationship Manager shall have to seek temporary deferral/waiver stating the reasons and specific time frame.

Learning

To give loan UCBL takes mortgage in the form of documents. The officer of this department takes advice from a lawyer at the time of agreements. This department checks the validity of the documents which are provided by the borrowers. UCBL provides loan against asset (land, apartments, etc.), against salary of the employees, against FDR (Fixed Deposit receipt), etc. UCBL provides loans and take installments along with the interest from the borrower. The borrowers can deposit their installments to their loan accounts directly to the cash counter. If any borrower fails to pay several installments he/she is considered as a defaulter. The bank usually takes actions against the defaulter according to the law.

Conclusion

Working under credit department is tougher. Because the person in charge has to be very careful about the client who is asking for lone. If the senior officer makes any mistake then the bank may lose a huge amount of money.

WEEKLY JOURNAL

WEEK-12

Introduction

This was the last week of my internship at UCBL Bashundhara R/A Branch. I was tremendously happy to see my internship process in the end. This week I went through some regular banking activities which I have been doing in these three months.

Key Resources


I have done following activities that day: UCBL-Institutional Account preparing form total activities;District-feni, Upazilla-Fulgazi (12)District- Sunamganj, Upazilla- Bishwabharpur (8)District-Jessore, Upazilla-Chowgacha (1)District-Tangail, Upazilla-Gopalpur (1)District-Mymensingh, Upazilla-Bhaluka (1)District-Perojpur, Upazilla-Perojpur Sadar (6)I have completed twenty nine preparing form activities on that day.

(Tuesday)02.12.2014

I have done following activities that day: UCBL-Institutional Account preparing form total activities;District-Feni, Upazilla-Feni Sadar (17)District-Brahmanbaria, Upazilla-Banahrampur (7)District-Chuadanga, Upazilla-Alaudanga (1)I have completed twenty four preparing form activities and settled one manager that day.


I have done following activities that day: UCBL-Institutional Account preparing form total activities;District-Maulavibajar, Upazilla- Barlekha (8)District-Chandpur, Upazilla-Chandpur Sadar (5)District-Sunamganj, Upazilla-Jaganathpur (9)I have completed twenty two preparing form activities that day.

(Sunday)07.12.2014

I have done following activities that day: UCBL-Institutional Account preparing form total activities;District-Narsindi, Upazilla- Raipura (1)

Check list-1District-Narsindi, Upazilla- Raipura (1)UCBL-Institutional Account preparing form total activities;District-Khulna, Upazilla-Dumura (24)I have completed twenty five preparing form activities and checked one preparing form.

Recommendation

E-Banking:Actually no e-banking service is given by UCBL at present. The Small amount of e-banking it conducts is information exchange in nature. Any Account holder of the branch or any customer who is residing outside the country can ask and know about his account balance through e-mail with branch. Any query between head office and a branch can be asked and answered through e-mail.Therefore, the recommendation would be:

Enrich the E-Banking due to reduce the email pressure, Develop customer satisfaction, Reduce paper consumption.

.

LearningIn the tenure of my internship’s last week I have learned the following things:

The Bank has been giving emphasis on financing eco-friendly business activities and energy efficient industries like Effluent Treatment Plant. The Bank has recently financed Term Loan of Tk.16.85 Crore to establish two brick fields using Hybrid Hoffman Kiln (HHK) technology.UCB is already trying to provide online banking services to its valued clients through 115 branches. Our valued clients are also using SMS Banking services offered by the Bank.UCB is on the verge of selecting a robust Core Banking Software (CBS) covering all banking operations including delivery channels as well as Offshore Banking and Islami Banking. With the implementation of CBS, UCB will be equipped to offer more paperless and eco friendly banking services.To automate work flow, increase operational efficiency and to reduce carbon emission, UCB has also taken the following measures and projects which are underway for implementation of corporate objectives on green banking: Implementation of Enterprise Resource Planning (ERP) software for Office Automation Implementation of Corporate Intranet Portal Implementation of a new Green Disaster Recovery Site (DRS)UCBL exerts utmost effort to implement Green Banking and always eager to embrace latest technology any methods to ensure eco-friendly banking operation.

Conclusion

This was my last week at UCBL Bashundhara R/A Branch. I went to office each day of this week and it reminded me end of my internship every time. Even though it was my last week but I was occupied with loads of works. Hence, I learned and practiced many things of banking which would be fruitful to complete my graduation as a partial requirement as well.

Abbreviations

UCBL ICC CAMLCO TP AOF KYC ALCO FDR POSIBC OBC SDK DDTT MT PO EBIT DPS ROAROEA/CFCL/CIMPFOBCIBCIF

United Commercial Bank LimitedInternal Control and ComplianceChief Anti Money Laundering Compliance OfficerTransaction ProfileAccount Opening FormKnow Your CustomerAssets/Liability Management CommitteeFixed Deposit ReceiptPoint of SalesInward Bill CollectionOutward Bill CollectionSecurity Deposit ReceiptDemand DraftTelephone TransferMail TransferPay OrderEarnings Before Interest and TaxDividend Per ShareReturn on AssetsReturn on EquityAccountForeign CurrencyLetter of CreditImport FromFree on BoardCredit Information BureauCost Insurance & Freight

Internship Report on UCBL With Weekly Journals (Complete File)

Documents

Transcript of Internship Report on UCBL With Weekly Journals (Complete File)