Internship Report of UBL
Internship Report of UBL
Internship Report of UBL
1. ACKNOWLEGEMENT
First of all with s sense of gratitude I bow my head before ALMIIGHTY ALLAH, the
omniscient, who bestowed my potential to accomplish the task and all the qualities have,
who made sources within his beings who with the help and willing of God others and tell
the right path, so I am thankful to those who have lots of contribution in the compilation of
my internship reports.
I would like to show my gratitude towards my dignified teachers for providing me guidance.
A standing ovation and hearty round of applause go to Mr. Shehzad Mahmood, who has
always been kind and helpful towards me , I really great pleasure and honor from core of my
heart to say thanks to him for being so kind and supportive. His kindhearted behavior has
printed deep and everlasting shadow on my heart.
I am also very thankful to staff members of bank, who were really cooperated with me
and provide me their complete guidance and give me their costly time and told me
even their minor things of banking.
Table of contents:
4.
5.
Executive Summary
Introduction
5.1
5.1.1
Back ground of study
5.1.2
Purpose of the study
5.1.3
Scope of the study
5.1.4
Objective of the study
5.2 Overview of the organization
5.2.1
History of banking in Pakistan
5.2.2
History of UBL
5.2.3
Nature of organization
2
2
2
3
3
5.2.4
Major developments, business and successes
5.2.5
UBL business line
5.2.6
PEST analysis
5.2.7
Contribution toward economic development
5.3 Company information
5.3.1
Organizational hierarchy chart
5.3.2
Organizational hierarchy
5
6
10
12
5.3.3
5.3.4
5.3.5
5.3.6
Number of employees
Main offices
Number of branches
Introduction of UBL departments
3
4
5
13
14
15
15
16
17
23
24
24
5.4.4
26
5.4.5
5.4.6
2nd Week
29
5.4.7
6.
7.
8.
26
rd
30
th
3 Week
5.4.8
4 Week
32
5.4.9
5th Week
34
5.4.10
6th Week
36
5.4.11
Summary of learning
37
40
42
46
47
4. EXECUTIVE SUMMARY
5. Introduction
It is necessary requirement for the students of business administration to submit the
internship report. This part tells the purpose of study, scope and objectives. I did my
internship from UNITED BANK LIMITED G.T ROAD branch Gujrat. About experience I
have in bank during my internship is not bad. It helps me to enhance my knowledge and
skills which I already have learned during my MBA degree. Even though time was short
but I try hard to learn up to date knowledge and skills.
5.1.2 Purpose
The purpose to do internship was to enhance my practical knowledge,
5.1.3 Scope
The scope of internship is to gain the banking knowledge and its daily operation and
then apply it in the practical field. I will be able to carries out inquiries on banking
operations and combines the critical data as well.
5.1.4 Objectives
The bank aims to provide better and efficient services to its customers. Need for
improving the financial performance of company, following are the objectives.
To take necessary steps to stop the leaking of the revenues and expenses
Pakistan to India. So, by 30 th June 1948, the number of the offices of schedule
banks in Pakistan declined from 487 to195.
In June 1959,Mr.Agha Hassan Abedi decided to open a bank different from others
to provide modern banking facilities to trade and industry and to promote the habit
of saving among common people. Necessary formalities have been compiled for
registration certificate to perform business to STATE BANK OF PALISTAN for
permission. After all these formalities on 7th November 1959, UBL came into
existence as a schedule bank.
In 1963 first overseas branch was opened in London .in 1966 two branches in Bradford
and Birmingham were also opened .in 1967 Dubai and Abu Dhabi branches were
opened. More important thing is that UBL is pioneer in computerization of banking. Its
larger branches are fully computerized. Saving and current deposit accounts are
completely computerized in almost all branches.
Head office was establishment in New Jubilee insurance house; I.I.CHANDRIGAR
ROAD KARACHI.
incorporated with an authorized Capital of Rs. 20 million which was later rose up to
Rs. 112 million.
Mr. CHUNDRIGAR was its chairman who died in December 1960 and was replaced
by Mr. Habib-I-Rehmat. MianShafiqueSaigul was its managing director who was
replaced by Mr. Agha Hassan Abedi in 1962.after nationalized Mr. A.K. Yousafi
was appointed as managing director for a short while and later on designated as
president; he was replaced by Mr. Zia-ud-din in on 1-1-1997. Now new president
is AtifR.Bokhari.
overseas branches situated in UK, USA, UAE, Yemen, Bahrain and Qatar. It also
operates one offshore branch in export processing zone, Karachi and it has
representative offices in Cairo (Egypt) and Tehran (Iran). It also has joint venture with
Oman united exchange Co, and a subsidiary United Bank A.G Zurich, Switzerland set
up in 1968. It has 412 ATMS across country.UBL has assets of over Rs. 640 billion,
capital and reserves of over Rs. 58 billion and solid track record of over 50 year.
reward and bonus which increase the employees to meet the objective of bank.
The liability of bank is fixed and determined each year which is based on the
performance of bank.
UBL is pioneered in developing a scheme of Government to People (GTP) aid
distribution through its large network of branched on the IDPs aid distribution.
UBL distribute 500,000 Watan card to flood affected families on the Government
assignment to produce, personalizing and distributing Watan card
UBL are also an innovator and technology leader in banking sector. It upgrades
its transaction (ATMs and alternative distribution channels) and branches core
system.
UBL is also up-to-date its core banking operation by developing software,
products of SunGard. Which is providing a centralized and customer based
system. it will provide 360 view of customer and integrated retail and corporate
banking modules, thus ensuring better control for bank and refined services for
customer
UBL operates a pension scheme (defined benefit scheme) for staff, but this
scheme is closed for new member.
relationship
experienced
by each
UBL client.
You
can
UBL BetterLife-Bancassurance
HAPPIER Time Ahead
We are pleased to announce the launch of UBL BetterLife Plans under the umbrella of
Bancassurance, in partnership with EFU LIFE Assurance CompanyIN selected 100
Branches
What is Bancassurance
Bancassurance is the selling of insurance and banking products through the same
channel, most commonly through bank branches.
Product Offering
UBL BetterLife plans are advanced insurance products specifically designed to benefit
the customers, providing the better and secured future to your family and loved ones.
UBL Wiz is Pakistans first ever Prepaid VISA Debit Card that provides the convenience,
security and benefits of an ATM and Debit Card, locally and internationally
Ubl Wiz
More than just an ATM card, you can use your UBL Wiz everywhere VISA cards are
accepted. Whether you are using it online, paying for petrol, shopping or dining, you are
accessing money directly from your prepaid card, without having to visit the bank.
Buying a home
Why rent when you can buy? Buying a home of your choice has never been so easy.
With a maximum financing limit of 80% you can easily buy a house or apartment that
best fits your requirements. So go ahead and start the search for your dream home because with easy and affordable installments you need not think of renting a house when
you have hot UBL Address.
UBL Business Line
UBL Business line is a complete solution to all your Business Financing needs. With
UBL Business Financing facility, you can now take your business to greater and newer
heights, and achieve the level of success that you truly deserve. UBL Business line is a
running Finance facility that not only provides funds for growth but also enables you to
capitalize on profitable opportunities.
UBL Cash line
UBL Cash line is a flexible loan that provides you cash up to Rs.500, 000 without any
security requirements. It empowers you to take control of your finance. UBL Cash line is
aimed to make your life easier ZINDAGEE ASAAN. Whether you are a salaried
individual or a businessman, UBL Cash line takes care of your cash requirements.
UBL Credit Card
Welcome to the world of UBL Credit Cards the most exciting and vibrant credit card
brand in Pakistan. We offer you a range of innovative and exciting cards that is not only
powered by the security of chip but also enable you to personalize it any way you want
UBL Money
UBL money, the personal installment loan from UBL provides you with power, Control
convenience and the flexibility to manage your financial requirements and realize on
your dreams. Its about buying new furniture or marriage expenses, financing the
education of your child or enjoying vacations abroad! UBL Money caters your needs
handsomely. You can borrow any sum between 50,000 to 500,000 (PKR) and payoff up
till 5 years.
Other Services:
UBL Wallet:
UBL Wallet VISA as your debit card, you can shop all you want, eat all you can or fill up
car tank without carrying any cash.
Small Business Scheme
Under the Small Business Scheme, UBL is providing loans on easy terms to those who
wish to set up their own small-scale business. This scheme is aimed at spreading
prosperity in the country by reducing unemployment. As more and more people start
their own industrial units, the country will move steadily towards economic self-reliance.
PLS UniSaver
Let your savings earn you bucks.
competition and buyer demand requires constant attention to identify the business
opportunities, identification of external and macro factors that influence buyers and thus
customer profile these include
product or services.
6. Less employment opportunities
TECHNOLOGICAL FACTORS
Forces of technological advancement have played important role in shaping the lives of
peoples. The rate of changing of technology has greatly affected the rate of growth of
economy of country. Advance technology creating deep affects in long run. By adopting
new and advance technology banking sectors improve its services deliverability
Online banking
Debt card
credit card
the
banks4.
The major
Assistant ClericalNo
St
Messenger
Technical Staf
Cashier
DESIGNATION
Chairman
Deputy Chairman
Director
Director
Mr. SeeratAsghar
Director
Director
Director
SEVP/Company
Director
Audit committee
NAME
DESIGNATION
Chairman
Member
Member
Secretary
B.Name
de
160 Chakswari
458 Uch Road Ahmadpur
B.Adress
CHAKSWARI, TEH. & DISTT.MIRPUR, AZAD KASHMIR.
PLOT # B-VI-344/5, AHMEDPUR EAST DISTRICT
BAHAWALPUR
GRAIN MARKET, GATE WEST JARANWALA, DISTRICT
86 Wapda Town
FAISALABAD
WAPDA TOWN, 26-A, MAHAFIZ COMMERCIAL AREA
KARACHI
PRINCE ALI ROAD, P.O.BOX NO.131, HYDERABAD
1706 BharaKahu
57 Jhelum City
909 Hub Chowki
2 Landhi Ind.
23 Al Haroon
559 Ichhra
7 ShahalamMkt
177 Bank Square Mingora
Area
32 Peshawar Cantt
77 Toghi Road
16 Rawalpindi City
627 Haroonabad
Sialkot
1194
5.3.5 Branches
Progress of this estimated institute can be measured in terms of deposits and number of
branches opened .UBL have been ranked as number two bank in Pakistan in terms of
deposits and number of branches.UBL has 1400 Domestic, 19 Overseas Branches
No of Branches
4
3
1
Manama
1
1&1
Babul Bahrain&Moharrak
Qatar (Total Branches: 1)
Doha
Yemen (Total Branches:2)
Sana
Hudiada
UK (Total Branches: 4)
1
1
London&Bradford
Manchester&Birmingham
USA (Total Branches:1)
1&1
1&1
New York
Export Processing Zone (Total Branches: 1)
Karachi
Head Office
State Life Insurance Corp. Building #1, I.I. Chundrigar Road, Karachi, Pakistan
P.O. Box No.:4306
Phone:(92-21)111-825-111
Gram:"UNITED"
Fax: (92-21) 2413492
different
banking
functions.
The
accounts
department
Types of accounts:
UBL business partner :( current account)
no profit/interest
cheque book
no restrictions on number of transactions
no zakat
no cost deposit
SAVING ACCOUNT:
profit/interest
cheque book
zakat payable
no restrictions on number of transactions
withholding tax at prescribed rate on profit
2. BILLS DEPARTMENT
This department basically deals in bills, which come in bank for collection. The bills are
cheques, call deposit, drafts and pay order. These bills are from outstation branches
of UBL or of other banks. This department provides services to customers at low
charges to get their amounts from the nearest branch.
Outward Bills for Collection
Bills department receives cheques or other kinds of bills from its clients. The condition
under Outward Bills for Collection is that the customer must have his account in the
branch. This branch forwards the cheque with schedule or covering letter to that branch
on which bill is drawn. The checking officer of bills department will cross the cheque with
special bank stamp before forwarding the cheque to the other branch.
Outward bills for collection register
Outward bills for collection register is maintained in order to deep the records of all bills
for outward collections. This register is updated two times, first at time of receiving the
OBCs and secondly at the time when confirmation advice is received from the other
branch, either the cheque will be paid or not by the other bank branch. After
confirmation of the amount, confirmation advice is transferred to the sender branch.
After confirmation of the amount and bills, the account of the customer is credited
against reasonable charges, which is income for the bank.
Inwards Bill for Collection
These bills come to branch for payments so branch has to verify these cheques, pay
orders, drafts and call deposits etc. The party account must be opened in that branch
which sends it to paying branch .The responsibility under IBCs of the branch is to verify
all the bills within three days, and should send the bank advice to the originating branch.
3. Clearing Department
This department welcomes the cheques and other negotiable instruments drawn upon
local branches of other banks. State Bank of Pakistan has a clearinghouse, in which the
bank representative brings cheques and other Institutions and mutual claims of each
bank on other are off set and a settlement is made by the payments. Clearing system is
helpful for both the customers and bank in saving of time, labor and currency
involvement.
Procedure for Clearing ChequesAnd Instruments
UBL is a member of SBP and has an account with SBP. The clearinghouse of SBP,
through which branches forward and receive, clearing cheques, with a schedule,
conducts clearing. The clerk of forwarding branch prepares the schedule and vouchers
of all the clearing cheque, which he received on that day and sends these cheques to
the checking officer. Checking officer passes these cheques and vouchers by his initials,
endorsement stamp and branch special crossing stamp. Clerk posts the contra entries
of
these
vouchers
in
the
clearing
register.
At
every
day
at
about 9:05
a.m. Representative of all local banks are in clearing house of SBP, to receive and
forward the cheques.
4. Remittance Department
Transfer of money or equivalent to money from one branch to another branch of the
same bank is called remittance. Now it has become an easier and safer method both for
the client and banker to transfer their money from one branch to another within the city
or Outside City.
MODE OF REMITTANCES
United bank limited, uses following types for transfers of money:
1)
2)
3)
4)
DD Issued
b)
DD Payable
Banks Charges
The bank recovers different types of charges from the applicant on issuance of DD,
including:
a)
b)
c)
d)
2.
1. To facilitate all locally payable expenses on account of a bank for the reason that
such payments are not executed through cheques.
2.
For the sake of inland and foreign remittances in case where the beneficiaries
5. Advances Department
1. Fund Base Advances
These are those advances in which actual payment of funds is involved. These funds
again have been divided into two types.
Running Finance or Cash Finance
This is a loan, which is provided only to the running businesses to meet their working
capital requirements. The bank decides limit on continuing bases. It means that the
customer can draw the amount as much as he required as approved by the bank. He
can deposit and withdraw the amount on his account. The markup is payable on the
outstanding amount only.
Demand Finance Facility
The bank on demand provides this facility. It means that the bank pays the full amount
to the client and mark up is also payable on the full amount. The bank considers the full
amount outstanding.
The bank provides also facility of loan to its own employees against the security of their
immovable property. The rate of mark up on these advances is lesser as compared to
the rate of mark up on the other advances due to heavy in volume and mostly for the
long term time period. Three Terms of Loans:
1-Short term:
duration of 1 year
production loans are short term loan
2-Medium term:
limit up to 5 years
3-Long term:
up to 7 years
Developments loans are long term loans.
Types of Loan:
1-Production Purposes
2-Development Purposes
Types of Finances
Employees often sent to head office to know the new and necessary banking
operations. If any new product is introduced in bank than employees were also send for
training.
Staff members
DESIGNATION
NAME
Branch manager
Shehzad mehmood
Shoaib iqbal
Chief Teller
Haris majeed
Universal teller
Haroon Iqbal
security guard
Ejaz ahmed
Office Boy
Haji ahmed
employee continuously works in the bank he will get the promotion reward from the
head office.
Training of employees
The training has been given to the employees through proper channel. New employee
of the bank has been sent to the Regional Branch for training. If employee comes after
passing the test he will be sent for management course which is the 6 months training
course.
Salary structure
The salary structure depend upon the experience, knowledge and most important on
the basis of your performance because the promotion of the employees based on
employees annual performance. The average salary of staff is within fifty thousand.
Accounts
In UBL ketchury road branch total no of accounts are 5334 and its has 800 billion of
deposit and the detail of these accounts is as follow
Current Account
2060
1753
446
Saving Account
475
Weekly timetables
5.4.5 First week
Account opening
Account opening is process through which client open its account in bank. It open by
fulfilling the account opening form which contain account number, date of opening, title
of account, introducers name and address, special instruction if any, information about
zakkat deduction and mode of delivery of cheque book etc. Then this filled form is
submitted in bank, the bank admits the signature of the applicant and verifies the
introducers signature.UBL opens following these accounts
Current Account
Saving Account
Term deposit Account
Foreign Account
Current Account
Saving Account
Foreign Account
Term Deposit Receipt
2060
1753
475
44
This card contains account number, title of the account and the specimen signatures of
the account holder. When this form is submitted in bank, the bank officer admits the
signature of the applicant and keeps this specimen card in record.
Received of cash
Payment of cash
Record of paid cheques
Deposit receipt record
Record of bills received
Closing balance
.customer then go to casher and cash it cheque. Cashers give cash and record it in his
payment register.
When cheque is come for payment special care is taken about customer signature,
cheque due date, amount in figure and words. If some thing found wrong then cheque is
not passed for payment.
Types of clearing
Clearing department deals with the two types of clearing
a) Inward clearing
b) Outward clearing
Inward Clearing
Cheques drawn on UBL, presented to another banks or which is given to UBL agent for
clearing. That one is called inward clearing for UBL. So inward clearing is outflow of
funds to collecting bands reducing the balance in the clearing account.
Outward clearing
If suppose customer present Cheques in branch in which I did internship and are not
UBL bank cheque but customers have accountholder of UBL and present it in UBL to
collect the amount on its behalf know as outward clearing for branch. So outward
clearing is inflow of cash from other or payee bank into the UBL branch account in
clearing house and it increase the UBL balance.
Procedure of Clearing
At 10:30 am authorized representative of all bank of city get together in state bank of
Pakistan for 1stclearing of day, where all banks made entry in clearing house register
and exchange of all cheques they have of different banks, here 1st clearing ends.
Representatives of UBL takes the cheques drawn on UBL these cheques are entered in
the inward clearing registered and after sorting out these are delivered to respective
branches of UBL. Some cheques are passed and some may be dishonored and a
memo showing the reason of dishonored is attached with them.
At 12:30 pm the entire representative again get together for second clearing where
payment and receipt of passed cheques takes place and dishonors cheques are
delivered back to the representative of respective banks. There is no physical payment
or receipt of cash takes place, actually every clearing house agent(bank) have account
with SBP which is debited or credited respectively with an amount equal to the amount
of receipt or payment. If the amount of payment exceeds the amount of receipt the extra
funds from head office are called in the form of TTs and till that time clearing house
remains open
DEMAND DRAFT
A demand draft is written order to pay money drawn by one office of a bank upon
another office of same bank, for s a sum of money payable to or to the order
(specified person) on demand
Demand draft can be issued to customer as well as to non customer against
cash or cheque
Requirement for DD
The teller /officer has verify the original ID and take its photocopy and return the
original ID
Photocopy of ID attached with the application
Charges on DD
The bank receives different types of charges from the applicant on issuance of DD
which include...
After filling the applicant the customer put its signature on DD form and deposit their
cash or cheque on counter. Particular of demand draft are recorded in demand draft
register. Separate folio is allocated in demand draft issued register for each branch.
Vouchers
Each and every transaction which took place in bank are made through vouchers and
then at closing of work it will recorded under different head of accounts and then match
balance. Vouchers are of two types:
1. Debit vouchers
2. Credit vouchers
These two are again divided into three sub categories
i.
ii.
iii.
Cash vouchers
Clearing vouchers
Transfer vouchers
All transaction which are take in bank like deposit ,withdrawal of cash clearing these are
done by preparing vouchers. A sheet is prepared of all these working which are passed
in day are then consolidated and summarized. This sheet is called supplementary
sheet. It provides help in preparing Cash book. Supplementary sheet are of two types.
Debit Supplementary Sheet
In which all debit cash voucher, clearing voucher, transfer voucher are included
Credit Supplementary Sheet
In which all credit cash voucher, clearing vouchers, transfer vouchers are included
Cash Book
It is maintained to keep the record of daily received and payment vouchers. Cash book
is consisted on the opening balance and closing balance of day. Balance of cash book
is match with all vouchers balance for correct balance.
Income account and other is Expenditure account. Separate ledger register is prepared
for every individual head of account. All transaction in cash, clearing, deposit, transfer,
withdrawal of cash, foreign exchange, advances are took place through ledgers.
Account department prepare and update the following general ledger and other account
books.
Daily general ledger for expenses
Daily general ledger for income
Monthly general ledger for Assets
Monthly general ledger of liability
Format of entire above ledger is approximately same. General ledger tells about the
account number, its description, and balance.
Types of Advances
Demand Finance
Cash Finance
Overdraft Finance
Demand finance
Demand finance is that type of advance in which bank made contract with its customer
that in future I will give you contracted amount for you need at some fixed rate. For this
bank take security which is 100% equal or more value of the advance money. It may be
in shape of stock, land or other financial instrument. Suppose customer come for
advance of 5 million, in UBL, bank make contract with that customer that it will provide
you the amount in future when you need and UBL charged the interest rate of 15 to 20%
on providing of this advance from customer and take security of equal amount of
advance from customer for safety.
Cash finance.
In this it will given to those which have the short term need of cash like sole proprietor,
partnership company etc for meet the timely need of cash this advance UBL give only
those person on whom the bank has full confidence and they are the loyal customer of
bank. For this bank take security which have value of 50% or more than 50% of
advance. Interest rate charge on it base on type of security, UBL charge interest rate
from 15 % to 20 %.
Over drafts
Over draft is the advance in which bank allow the its loyal and most important customer
to get money even if the amount actual is not have in its account that is called the over
draft advance. In which bank give limit to its customer on current account to over draw
the amount from its actual amount of account. For this bank charge the interest or
charges on the amount that is actually over draw from account. Customer takes the full
advantages of over draw of money when he needed. And when it returns the money it
debits the account with amount of money.
Overdraft might be unsecured or secured overdraft. Unsecured is that in which rely
upon the personal security of the customer and in secured overdraft bank allow the
customer that he/she will overdraw the amount from its account after providing the
security to bank, security may be of Government or first class financial instrument.
taught me about the banking work, I thankful to all of them .as I started my internship.
Branch manager welcome me and introduce the other staff member, so I started work.
First I know who to deal with customer and provide them services at our best. I also to
get knowledge of opening of different types of accounts, its documentation and other
procedure of account opening. As bank basic financial services which include loan,
deposit of customer, so in next step they teach me who to get money from customer
and recorded it in ledge and provide the customer the deposit slip. Clearing in these day
of banking become the important part of banking in clearing I basically get skill that the
cheques which are not that branch. It may be of other bank or other branch of same
bank. So on customer request send it by crossing to that branch of which it have. Also
got knowledge of Making Demand Draft, Pay Order, and Telegraphic transfer and pass
entries of it in relevant register.
During my internship all staff member help me to fulfil my internship specially Mr.
Osama Aziz who is so kind and corporative, he tried his best to give knowledge he have
to me to know the banking field in that short time period so I got skill to deal to customer
as quickly as possible and also know procedure to open account, got skill of clearing
and outward billing collection, also work with cashier.
What kind of responsibilities you have undertaken during the internship period?
I worked in account department, also work in deposit field they also teach me who to
deal with customer, and also did responsibility in clearing of cheques, demand draft pay
order.
In first week I work as who to open account of different types like Opening of an
Individual Account, Opening of Joint Account,Opening of an sole proprietorship account
and also to work which activities carry when close the account of customer.
In second week I worked in deposit department and got knowledge of receiving of
money in different account like Current deposit (UBL business partner), PLS term
deposit receipt, Special notice receipts, PLS saving account, and Current deposit and
know different rates at which bank give loan to its customer and businesses for their
financial needs. It aware me that which person required what type of account according
to its needs.
I also work in remittance department and got ability to handle the different modes of
remittance. Remittance modes include demand draft, Telegraphic Transfer (TT), Mail
Transfer (MT). who to fill the form ,complete name ,address, amount , branch name
where it send ,charges of its etc and in final make entries of remittance in remittance
register.
In next step I work in clearing of different financial instrument like cheques, its
procedure and function of clearing., I have learned how when your client give you
another bank or branch cheque and request to transfer that fund from that bank or
branch to its account. It work without involving cash through State Banks clearing
house or we can say in other that cheques which cannot be cash at the cash counter of
the bank.
I have also learned about account department and functions of account department..It is
department in which all records and activities of all days are recorded in general ledger.
It is the most important recording register of banking activities of all day of all individual
activities like cash deposit , and written of cheque and get deposit from account. in this
department also maintain the different register like clearing, demand draft order, pay
order .Account department also maintain voucher of different transaction which bank
made in whole day and record of it in its relevant register like deposit voucher and
credit voucher.
In last of my internship I work in advance department. In this period in teach who to
make loans like loan at demand in this loan provided to customer at its demand when it
needed, interest is charged according to set rate of loan annually. Loan are giving by
putting some security against loan like property, gold or some financial instrument have
worth equal of loan or exceed of it.
As I done my internship in bank because I have future plan to join bank so doing worked
as internee in bank .so it increased my skill and helpful for me in future when joining
bank. I know to deal with customer which will help me in future who to satisfy customer
because the customer satisfaction is the main focus of bank in these days. It introduce
me the environment of banking sector and aware me the skill which are necessary for
working in bank. Banking sector are growing so lot of chances in this sector to develop
my future career. So in future as I learn some about banking so easy for me to learn
more quickly when join banking sector.
How do you think the internship activities that you carried out are correlated with
your classroom knowledge?
Yes the basic of accounting which I have learned during my study have help me in doing
internship so basic of accounting are as same as we learn in our study, while the
different management theories and policies which were taught by our teacher not
similar, every manager has their own some policies or obey the policies developed by
top level .we read about sharing of knowledge, but in practical no such policies are
carried out by manager they only instruct according to top management policies, in
short some book knowledge are carried out but most of not
they have to work till late from working hours. Branches are not up-to-date with
advanced technology. So because of it delivery of services to customers is not quick.
Very important department of bank, but focus on it to improve its services and provide
latest technology is very slow. Number of cash counter is less than other new and up-todate banks, so casher face lot of problems and have lot of work burden on it and it
cause some time that give more amount then actual it happen in rush hour when
number of customer is too much and one casher for all. They have no counting
machinery in all branches which help them in counting of currency. Fake currency notes
also problem for casher .it come from other branches or it may be happen in rush hours
period, so UBL management must up-to-date its cash department with latest equipment
for the help of its employees.
The depositing procedure is old; there is no improvement in process which gives
relaxation to customer. Account opening form is not well designed it restricted the
accommodation of more than two person. Withdrawal of cash is not up to dated it using
manual process no advance equipment is used for verification of signature of account
holder. In case of special order cheque when necessary of specific person is present at
time of withdrawal, some time give to another person on its behalf because of fear of
loss of that customer or some time strong relation also works in this case.
Clearing is not well up to dated when cheque of other branch is send not know have
balance in it or not because different banks are not interrelated with each others. Some
time signature is not match or return memo is not filled properly or wrong stamp put is
some cases.
Credit department is most important department in these days for bank. It generate
extra fund for bank in shape of deposit and loan giving. But proper care is not carry in
giving of loan or other financial assistance which cause loss to bank. Like no proper
security is pledged for loan giving or not properly investigated that person to whom loan
is giving is credible or not so in last it become bad debit for bank like in case of credit
card bank face lot of problems in recovery and also in car financing.lot of money of
banks become bad debit. So manager required extra skill and knowledge for it to
perfectly deal this.
Marketing of its new services is very poor and say that in marketing UBL is very slow.
Employees are not properly deal with customer some time their behavior is not good
with their customer. They do not know the latest techniques of marketing. Lack of the
promotional activities and Put no attention on the overall environment of bank or to
improve it.
Their no properly security system in bank, no security camera and security alarm in
case of emergency, private security guard is used who is not properly trained so risk of
robbery all time.
WEAKNEES
Most of employees are not well qualified and do not have right professional
attitude that may hinder UBL to perform up to the mark and to satisfy their
sophisticated client. Most of them are graduates and under graduates
Management offer low profit on profit and loss account approximately 7% before
deducting tax. The other banks offer more than this
Employees involve in internal politician which effect on efficiency delivery of
services
Very few employees are honest to their work as well as with management, they
often do not care the customer and to they do not pay full attention on providing
better services to them
In most case the banker give favour to those customer who have huge some of
deposit in bank or they have direct relation with the banker and neglect to those
who have no large deposit or relation with them. I myself noticed this one during
my internship period
Networking and advance technology is not latest, and also not available to every
employees and even they use old version of program in their system, system is
not up to dated as well
Most of loan are not covered because of pledging security is not sufficient for the
amount of loan, so it become bad debts
Not using modern techniques of banking
All branches are not fully computerized till
OPPORTUNITIES
The banking sectors has been entered into new era of advancement with
innovated products and online facilities which other simply dont have
Government of UAE has declared a free industrial estate which is having its own
free port, in which free tariffs are to be imposed. UBL has invested in this area by
opening new branches there.
Commercial bankers can become the single source of financial services for small
market the bank must launch the new and innovate products and services to take
the large share of market and maintain their position in market and equipped the
branches with latest technology.
THREATS
New banks like ASKARI. FAYSAL, ALFALAH can cause the loss of the market
share of UBL because these banks are providing better services and these are
fully equipped with latest technology so the delivery of services is better than
UBL
New banks are introducing new and innovated products and they are transfer
their traditional banking facilities to modern banking operation, because of
keeping in view the changing demand of time and emphasizing more on
personalized services, electronic funds transfer, sophisticated financial products
such as electronic banking, auto teller machines and evening banking. This is
great threat for UBL if it not change according to demand of customer
No stable Government in Pakistan change in Government mean change in
policies so not provide the smooth way of success
Current condition of Pakistan is not suitable for investment so it cause low profit
of bank
High inflation rate in Pakistan cause the lower of saving and investment
Concept of evening and Sunday and online banking is big threat for UBL, and
UBL is behind from this so face problems
Freezing of foreign currency account by Government of Pakistan is also fear for
bank.
SUGGESTIONS
Bank should hire new enthusiastic, energetic and hardworking staff with
professional abilities and knowledge
UBLs top management must adopt such strategy, that will helpful in eradication
of internal politics
The bank should make some strategies to educate the employees and general
public about the banks services and products
Introduce the process or team who investigate on the creditors worthiness, so
that in future the fraud can be stopped and reduce the fund to become bed debits
In bank must be a counter at which only provide the information to customer for
their problems and services
In order to check the efficiency of employees must be regular visit in all branches
by management team.
Regular training and seminar are launch to improve the knowledge and skills
Banks is not fully equipped with latest machinery like auto teller machine, latest
system, DSL and proper security system
Not deal in opening of letter of credit and to deal in export and import facilities, so
bank should hire export and import staff for such types of activities
No proper marketing is done by manager and no strategies are applied for
effective working. All the focus is on attractive the deposit no focus on other
facilities or services other banks have ,now a days are introducing new scheme
of Corer Patti by HBL and Prize on TravelersCheque by MCB
8. References:
Ubl G.T road branch
www.google.com
ubl.com.pk