In T e Rns H Ip R e P o R T On: Standard Bank Limited BUS-400
In T e Rns H Ip R e P o R T On: Standard Bank Limited BUS-400
In T e Rns H Ip R e P o R T On: Standard Bank Limited BUS-400
Submitted to
Riyashad Ahmed
Assistant professor, EMBA coordinator
BRAC University
Submitted by
Ananya Rahman
ID #11204032
BRAC Business School
th
Submission date: 03 June, 2016
1
Letter of Transmittal
th
03 June, 2016
Riyashad Ahmed
BRAC University
Honorable Sir,
I hereby present my internship report onGeneral Banking Activities of Standard Bank Ltd,
approved under your supervision, as a partial requirement for the completion of BUS 400
(internship). I have attempted my level best to put all the things which are connected with my
internship report.
I have learnt a considerable measure during my internship period, which I couldn't have
learnt from text book. The knowledge I have gained will surely help me build up my career.
I hope that this report has been up to your expectation. If any clarification is needed about
this report it will be my pleasure to clarify it to you.
Sincerely,
Ananya Rahman
BBA Department
Acknowledgement
At the very beginning, I like to express my deepest gratitude to Almighty Allah for giving me
the strength and the composure to finish the report. You have made my life more bountiful,
may your name be honored, glorified and exalted.
Words actually will never be enough to express how grateful I am, but never the less I will
try my level best to express my gratefulness toward some people. On the way of completing
this internship report successfully, I had some people in favor of me who helped me with
their kind support and help to provide me the guideline to finish my report within the
timeframe.
First and foremost, I would like to acknowledge my heartiest gratitude and indebtedness to
Riyashad Ahmed, Assistant Professor, BRAC Universityfor his guidance, supervision and help
in all stages of carrying out my work and also in preparation of the report. He deserves my
special thanks for giving me much of his valuable time in spite of his busy schedule for
reviewing my report thoroughly.
I would also want to express my sincere appreciation and gratitude to all my teachers for
guidance and support for the report.
Md. Maruf Hasan, senior officer of Green Road Branch, Standard Bank Ltd. Without whom it
would not have been possible to complete my internship report fruitfully. His suggestion
always helped me to work more thoroughly and efficiently.
I would like to thank to all my colleagues in Standard Bank Ltd. Who helped me on the way
of giving me valuable comments, feedback and suggestions during data collection.
Last but not least, I would also like to thank the University authority, the member staff,
faculty members, class mates for their continued help and valuable suggestions to complete
this report efficiently.
TABLE OF CONTENTS
1.2 History 09
Chapter-02
Job 19-21
2.1 Description of the job 19
2.2 Specific responsibilities of the job 19
2.3Different aspects of the job performance 20
2.4 Critical observation and recommendation 21
Chapter-3 34-53
General Banking activities of standard Bank Ltd.
3.1 Introduction 23
4
3.7 Current Account for partnership 26
3.16 Findings 33
Chapter-4 36-37
SWOT Analysis of Standard Bank Ltd.
38-43
Chapter-5
Recommendations And Conclusion
5.1 Recommendations 39
5.2 Conclusion 40
42-43
References & Abbreviations
5
Executive Summery
This report is prepared as a course curriculum requirement of “Bachelor of Business
administration (BBA) program under BRAC University this report entitled-“General Banking
Activities “isan analyzed deliverance of three months long internship program at customer
service department in the Standard bank ltd.
The primary goal of internship is to provide an on-the-job Exposure to the student and
giving an opportunity to translating the theoretical concepts in practical life Situation.
Students are placed in different enterprises, organizations, research institutions as well as
development projects. The program covers a period of three months of on-the-work
Attachment with a particular organization, chosen by the students themselves or the
concerning department. As a requirement for the successful completion of the program, I
needed to submit this report.
I have chosen Standard Bank ltd for gaining practical work life experience as an intern for a
period or three month starting from 20February to 20 May as a part of my internship
program of BBA requirement. I have shared a detailed insight about my work experience at
here along with a detailed job description where I had to deal with general banking. I
conducted a study on the overall activities of SBL as well as the customer satisfaction within
the organization.
This report consists of information about the project I had been assigned with general
banking. In addition, I have also provided an overview of the bank, and the department I
have been assigned to along with an account of my experience as an intern at SBL.
6
The organization
1.1Introduction
A bank collects money from the people through some special types of products and all the collected
money invests in the different sectors at higher interest rates (Tanvir, 2015-09). Banking
operations are becoming dynamic and challenging job to do the business in the financial
market. The demand for the superior banking facilities offers one-stop integrated financial
services for the customers. The ability of banks to offer clients access to several markets for
different classes of financial instruments have become a valuable competitive edge. The
working of the customer’s mind is a mystery which is difficult to solve and understanding
the nuances of what customer satisfactions a challenging task. This exercise in the context
of the banking industry will give us an insight into the parameters of customer satisfaction
and their measurement. This vital information will help us to build satisfaction amongst the
customers and customer loyalty in the long run which is an integral part of any business.
The customer’s requirements must be translated and quantified into measurable targets.
This provides an easy way to monitor improvements and deciding upon the attributes that
need to be concentrated on in order to improve customer satisfaction. We can recognize
where we need to make changes to create improvements and determine if these changes,
after implemented, have led to increased customer satisfaction. If we can’t measure the
level of customer satisfaction in banking sectors we can’t able to improve the banking
service in order to keep customer satisfy.
The reason behind choosing the topic is to know the level of customer satisfaction and
performance of the Standard Bank Ltd. In this report I have tried to make differences in
order to banking performances, employee performances and the level of customer
satisfaction in this bank. At the same time to come across major findings and to provide
some relevant recommendations in favor of the Bank.
1.2History
Standard Bank limited is a bank which is incorporated under private sector and was turned
into a public limited company on May 11,1994 under companies act of 1994.This bank
started commercial banking operations on June 03 1994 and since then it has created a
positive service oriented banking sector in Bangladesh. This is because within a short period
of time, it has been named as the largest private sector commercial bank with internet
banking, locker system, online money transfer and cash transactions with a very short time.
The bank provides the commitment to serve the customers within a convenient time and
satisfy different customer needs with different banking technologies provided by
professional work force and as a result it has positioned itself as a dynamic and professional
financial institution in this country. It has 102 branches across Bangladesh and a principal
branch in Motijheel in Dhaka where transactions of monetary services goes to all branches
and provides customer satisfaction to all regions as well.
The major objective are to provide how banking system works in account opening section,
mail dispatch section, Bill and clearing payment section and cash section and remittance
section through which overall activism of standard bank can be observed. The marketing
aspects of standard bank are of 7 p’s which are product, price, place, promotion, people,
process and packaging.
This bank operates on all districts and regions of Bangladesh with 102 branches operating to
serve the customers of different localities and a principal branch in Motijheel to supervise
the overall operation of all branches and to provide monetary supply to all banks in order
for customers requirement of money.
Its motto is to create new technologies in the field of modern banking, which is being
regulated by BACH (Bangladesh Automated Clearing House) where millions of taka are
transacted to Bangladesh Bank from all branches through the principal branch and also
provides ATM and credit card services as well as loan schemes and opening of letter of
credits for import-export of various products entering or departing to various overseas
destinations through different ports. In short, this bank has created a possible technology to
reach out customers throughout Bangladesh in a quick and easy manner.
Standard Bank has a mission to become top of the EVA (Economic Value Addition) each year
to come, to become top commercial bank among all other private bank and cerate the best
financial institution in market to serve the general consumer .The overall CSR of standard
bank is to provide financial service to national economic, community involved programs
through donations and also through sponsorships,
Standard bank has provided a new dimension in the field of finance and commerce where
monetary transaction quickly processes and returns to the government from where people
collect their salaries, loans, deposits etc. It also provide another social responsibility through
human resource management where many dedicated and intelligent educated manpower
9
are recruited and trained to become capable of fulfilling his/her duty in a particular position
in the bank and serve with honesty. Therefore standard bank has not only created options
for deposits scheme for many low middle high class people but also to provide a generation
of efficient delivery and provide servicing.
1.3 Service/Product offerings of Standard Bank Ltd:
a) Services: Standard bank has many services for their clients. They are given
bellow,
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. In some general banking activities, there is no
relation between banker and customers who will take only one service from bank' on the
other hand, there are some customers with who bank are doing its business frequently. lt is
the department, which provides day-to-day services to the customers. Every day it receives
deposit from the customers and meets their demand for cash by honoring cheese. lt opens
new account, demit funds' issue bank drafts and pay order etc. since bank in confined to
provide the service everyday general banking is also known as retail banking.
Credit Management: Banking is essentially a business dealing with money and credit. A
bank invests its funds in many ways to earn income. The bulk of its income is derived from
loan and advances. So this is the survival unit and unless the success of this sections the
survival is a question to every bank. Credit is the earning unit of the bank .lf this section is
not properly working the bank become itself may be bankrupt.
Credit is a continuous process. Recovery of one credit gives rise to another credit. In this
process of revolving of funds, bank earns income in the forms of interest. Nature of credit
may differ in terms of security requirement, disbursement provision, terms and condition
etc.' The major portion of the assets of a company other than bank/financial instructions
comprises the land, building, machinery and stock in trade' But in case of a bank the above
components are insignificant portion of assets. The loans are the main portion of the assets
of a bank.
Cash section: Cash department is the most vital and sensitive organ of the branch as it deals
with all kinds of opening cash Standard Bank are transferred to the cash officers from the
cash vault. This department starts the day with cash in vault. Each day some cash that is
figure of this cash receipts and payments are added to the opening cash Standard Bank. The
figure is called closing Standard Bank. This closing Standard Bank is then added to the vault.
And this is the final cash Standard Bank figure for the bank at the end of any particular day.
Cash department in the Standard Bank, Federation Branch is authorized dealer of foreign
currency, so it can deal with buying and selling of foreign currency.
Foreign exchange operation: Foreign exchange is a process which is converted one national
currency into another and transferred money from one country to another country. lt
involved the investigation of the method by which the currency of one country is exchanged
for that of another, the causes which rented such exchange necessary the forms which
exchange may take and the ratio or equivalent values at which such exchanges are affected.
The bank acts as a media for the system of foreign exchange policy. For this reason, the
employee who is related of the bank to foreign exchange, especially foreign business should
have knowledge of these following functions, like- rate of exchange, forward and spot rate,
methods of quoting exchange rate, premium and discount, convertibility, intervention
money etc.
It any monthly installment remains unpaid for 5 (five) consecutive months, the account will
be closed automatically and the account will be settled as detailed below:-
Relationship/ Tenure Applied interest
More than 3 years but less 5 years Matured value of 3 years and rest as per
prevailing interest rate on savings rate.
More than 5 years but less 10 years Matured value of 5 years and rest as per
prevailing interest rate on savings rate.
It failure to pay monthly installment on due dates he/she will pay penalty of Tk.20 Twenty)
next subsequent installment. Monthly installment, Tenure and Maturity Value will be as per
following Schedule:-
2. Deposit of Tk. 50,000/- (Fifty Thousand) and multiples thereof but maximum limit of Tk.
25, 00,000/- (Taka Twenty Five Lac) and Tk. 50, 00,000(Taka Fifty Lac) at a time and
depositor will earn 12 equal monthly profit.
10,000 20,100
20,000 40,200
12.34%
50000 100500
1,00,000 2,01,000
1.4 Organogram of the Standard Bank Ltd:
2. MANAGING DIRECTOR
7.VICE PRESIDENT
13. OFFICER
14 TRAINEE OFFICER
BRANCH
MANAGER
nd
2 Officer
SENIOR PRINCIPAL
To be a modern bank having the objective of building a sound national economy and to
contribute significantly to the public exchequer. To be a the best private commercial bank in
Bangladesh in terms of efficiency, capital adequacy, Asset quality, sound management and
profitability having strong liquidity.
Job
2.1 Name and description of the job:
In a commercial bank, General Banking Section is the most important part which is done by
me in this bank. This section is reception and accounts section (front desk) consists of
activities of open of account, issue of cheque, payment, clearing of interbank transaction,
inter branch transaction, and closing of account. Open of account is one kind of technique of
collection of deposits from customers.lt is the department, which provides day-to-day
services to the customers. Every day it receives deposit from the customers and meets their
demand for cash by honoring cheese. lt opens new account, demit funds' issue bank drafts
and pay order etc. since bank in confined to provide the service everyday general banking is
also known as retail banking.
This section opens different types of account fortheir valued customers. Selection of
customer is very important for the bank because bank’s success and failure largely depends
on their customers. If customers are bad they creates fraud and forgery by their account with
bank and, this destroys the good will of the banks. So, this section takes extreme caution in
selecting its valued customer.
Cheque drawn of another branch of SBL are called Outward Clearing Cheque. These types of
cheque are directly sent to the respective branch and request them to send.
Generally for clearing there is a department in every bank. In this department there are two
employees. In this desk, claques, demand drafts and pay orders of respective clients is
taken. Upon the receipts of the instruments the cheque clearing section examines the
following:
The customer is supplied with a pay in slip book to use for depositing or check of bill into
a/c. The customer is also supplied with a checkbook for drawing money as and when the
customer wishes, which normally contains 10 to 20 bank forms. If the customer does not like
to have a checkbook, then he can make use of withdrawal form for withdrawing money. But
there is no use of such kind of firms in this branch. In addition to the above, a customer is
given a passbook, which reflects the customer a/c in the banker’s ledger. It usually contains
the rules and regulations of the bank and terms and conditions of deposits.
After initial deposits the banker doesn’t issue cheque at the same time. Bank sends Thanks
Letter to thanking the account openers to open accounts in its branch. This letter treats
customers as honorable persons as well as it creates good faith and relationship with the bank.
In modern banking the mechanism has become complex as far as smooth transaction and
safety is concerned. Students of Asia Pacific do pay their tuition fee from their counterpart as
a result of transaction. Commercial bank’s duty is to collect these fees on behalf of their
administration.
2.3Different aspects of the job performance
General banking has different aspect which is affecting different matters of our daily life.
Among these aspect s general banking has mainly affected the legal and social aspects.
These are given bellow:
a) Financial aspect:
‘Financial services are the economic services provided by the finance industry, which
encompasses a broad range of organizations that manage money, including credit
unions, banks, credit card companies, insurance companies and much more.
When it comes to Banking - their primary operations include things such as:
Keeping money safe while also allowing withdrawals when needed Issuance of
cheque books so that bills can be paid and other kinds of payments can be delivered
by post
Issuance of credit cards and processing of credit card transactions and billing
Provide personal loans, commercial loans, and mortgage.’(Labelle, 12 May,2015)
b) Legal aspect:
Mainly bank is a legal institution and mainly focus on the legal aspects.”In the field of banking
and finance, we offer services in all legal aspects of lending and borrowing” (Dr. Ulrich Block). In
doing so, we mostly focus on drafting and reviewing complex credit documentation. All the
activities in the bank are done in highly way so that there will be no chance to be corrupted.
They maintain the banking law of our country andmake up to date their own legal activities.
The relationship between a bank and customers are actually an agreement which is done by
law. Here the practice of law s done every day.
c) Social aspect:
Bank is a social organization. Every activities of a bank is done for the wellbeing of the
society. These banks are creating a social chain with their activities. The upper class of
people deposit their saving money and get an interest from it and the bank also lend to the
needy people in their financial activities and take interest. The difference between this two
amounts of interest is the profit of banks but they create a circle of money with their
activities and help the whole society.
2.4 Critical observation and recommendation:
Increased managerial supervision is very much needed to assess whether the target no. of
account is opened within specified time period.
General banking division should be divided into more sections because in General banking
division there are six sections which are directly related with customer. To improve service
for their clients SBL should increase number of employees in general banking division to
provide better services. Bank should improve personal relationship with their client through a
well-structured general banking division.
Introducer is an important factor for opening an account. Most of the new clients do not have
introducer. Bank should concentrate into the problem to increase new customers. Bank
should make the procedure of issuing card short and try to issue the card quickly.
They should also provide some electronics machineries there like photocopy machine, fax
machine and well-functioning scanner to faster the office activities.
Complain or suggestions box for the customers should be monitored regularly to identify the
dissatisfaction areas of the clients.
To increase the level of customer satisfaction bank should offer new product and provide
better service depends on customer’s needs. They can introduce Islamic Banking wing in
Green road Branch.
\
Chapter-03
General Banking
3.1 Introduction:
During my internship, I was placed in Green road Branch of the standard Bank Ltd. First I
have Completed General Banking in this branch. General banking department is the heart of
all banking activities. This is the busiest and important department of a branch' General
banking of is branch consists of different sections namely.
3) Dispatch Section
4) Deposit section
5) Cash section
6) Remittance section
7l clearing section
8) Accounts section
According to the law and practice, the Banker-customer relation arises only from contract
between these two. And opening of account is the contract that establishes the relationship
between a banker and a customer. So this section plays a very important role in attracting
customer and therefore should be handled with extra care. According to the international
code of conduct banks should maintain the following steps regarding their customers-
Banks will act fairly and reasonably in all their dealings with their customers.
Banks will help customers understand how their accounts operate and seek to give
them a regarding their customers.
Banks should maintain confidence in the security and integrity of banking and
payment systems.
3.2 Account Opening Section:
Account opening is the gateway for clients to enter into business with bank. lt is the
foundation of banker customer relationship. This is one of the most important sections of a
branch, because by opening accounts bank mobilizes funds for investment. Various rules
and regulations are maintained and various documents are taken while opening an account.
A customer can open different types of accounts through this department.
Such as:
1) Savings Account
2) Current Account
3.3Savings Account:
This deposit is primarily for small-scale savers. There are certain limitations in Savings
Account, i.e., customer can draw only three days in a week, if they want to get interest on
the deposited money. lf a customer draws more than twice in a week he will not receive any
interest for that month. Heavy withdrawals are permitted only against prior notice. Some
important Points are as follows-
-Minimum Tk. 1000/= balance must always maintain all the time;
th
-Withdrawal amount should not be more than 1/4 of the total balance at a time and
limit twice in a month.
Customer Benefit:
Cheque book facility
Opportunity to apply for safe deposit locker
Utility payment service
Collect foreign remittance
Transfer of fund from one branch to another by-
Demand draft
mail transfer
Telegraphic transfer
Online banking service.
Some terms and documents may differ but the overall process of account opening is similar
to that of the saving account. Here I like to state what kinds of information to be furnished
in the form and which documents customer should provide.
Individual account. A customer should meet the following requirements to see an account
has been opened in his/ her name.
Partnership deed
Letter of partnership
Trade license
All the formalities of individual current account opening should be met for the opening of
joint Stock company, additionally following also should be submitted to the bank. These
documents are.
Bank Deposit:
Amount Interest Rate
Below 5 Crore 4%
Fixed Deposit is the amount deposited by the customer for a fixed period of time. It offers
comparatively higher rate of interest .For 1 month interest rate is 9%, for 3 month interest
rate is 11%, for 6 months interest rate is 11.5%and for 1 year interest rate is 12%
Procedure of FDR Account:
An FDR is renewed automatically if the customer does not come to cash it after the maturity
period. It can also be renewed upon the direction of the customer.
Features:
Interest is compounded once a quarter
Deposit Section:
Deposit is the lifeblood of a bank. From the history and origin of the banking system we
know that deposit collection is the main function of a bank.
Accepting deposits:
The deposits that are accepted by Standard Bank like other banks may be classified in to,-
a) Demand Deposits
b) Time Deposits
a) Demand deposits:
These deposits are withdrawn able without notice, e.g. current deposits. Standard Bank
acceptsdemand deposits through the opening of:
i) Current account
b) Time deposits:
A deposit which is payable at a fixed date or after a period of notice is a time deposit.
Standard Bank accepts tine deposits through Fixed Deposit Receipt (FDR), Short Term
Deposit (STD) and Bearer certificate Deposit (BCD) etc. While accepting these deposits, a
contract is done between the bank and the customer. When the banker opens an account in
the name of a customer, there arises a contract between the two. This contract will be valid
one only when both the parties are competent to enter into contracts. As account opening
initiates the fundamental relationship & since the banker has to deal with different kinds of
persons with fundamental relationship & since the banker has to deal with different kinds of
persons with customers.
Clearing:
Clearing is a system by which a bank can collect customers fund from one bank to another
through clearing house.
Clearing House:
Clearing House is a place where the representatives of different banks get together to
receive and deliver cheque with another banks.
Normally, Bangladesh Bank performs the clearing House in Dhaka, chittagong, Rajshahi, and
Khulna & Bogura. Where there is no branch of Bangladesh Bank, Sonali bank arranges this
function.
Types of Clearing:
1) Outward Clearing:
When the Branches of a Bank receive cheque from its customers drawn on the other Banks
within the local clearing zone for collection through Clearing House, it is outward clearing.
2) Inward Clearing:
When the Banks receive cheque drawn on them from other Banks in the Clearing House, it is
inward clearing.
8. Examine computer validation sheet with the deposit slip to justify the computer posting
Bills Collection:
ln modern banking the mechanism has become complex as far as smooth transaction and
safety is concerned. Customer does pay and receive bill from their counterpart as a result of
transaction. Commercial bank's duty is to collect bills and behalf of their customer.
Loan Schemes:
The loan portfolio of the Bank is well diversified and covers funding to a wide spectrum of
Business and industries including readymade garments, textile, edible oil, ship scrapping,
steel & engineering, chemical, pharmaceuticals, cement, construction, health-care, reinstate
and loans under consumer's credit schemes allowed to the middle-class people of the
country for acquiring various household items.
3.14 Loan and Advances:
This is the survival unit of the bank because until and unless the success of this department
is attained, the survival is a question to every bank. lf this section does not properly work
the bank itself may become bankrupt. This is important because this is the earning unit of
the bank. Banks are accepting deposits from the depositors in condition of providing profit
to them as well as safe keeping their profit. Now the question may gradually arise how the
bank will provide profit to the clients and the simple answer is – Investments & Advance.
Reason:
To earn profit from the borrowers and give the depositors profit.
To accelerate economic development by providing different industrial as well as
agricultural investment.
To create employment by providing industrial investments.
To pay the employees as well as meeting the profit groups.
Credit is continuous process. Recovery of one credit gives rise to another credit. ln this
process of revolving of funds, bank earns income in the form of profit. A bank can invest its
fund in many ways. Bank makes investment to traders, businessmen, and industrialists.
Moreover nature of investment may differ in terms of security requirement, disbursement
provision, terms and conditions etc.
Safety
Security
Liquidity
Safety:
Safety should get the prior importance in the time of sanctioning the investment. At the
time of maturity the borrower may not will or May unable to pay the investment amount.
Therefore, in the time of sanctioning the investment adequate securities should be taken
from the borrowers to recover the investment. Banker should not sacrifice safety for
profitability. Standard BankLtd. exercises the lending function only when it is mitigated and
covered.
Liquidity:
Banker should consider the liquidity of the investment in time of sanctioning it. Liquidity is
necessary to meet the consumer need.
Security:
Banker should be careful in the selection of security to maintain the safety of the
investment. Banks are obliged by law to take measures against conduct or events that form
a threat to the integrity of the Banking system and to have procedures in place that make
this possible(vermeerstraat, 2009).Banker should properly evaluate the proper value of the
security. lf the estimated values is less than or equal to investment amount, the investment
should be given against such securities. The more the cash near item the good the security.
Banker should be more conservative.
.
3.17 Findings:
Mainly the executive level employees are recruited from internal source and employees and
technical level employees are recruited from external sources. lt makes sure that its hiring
process is legal. Among the external sources, -advertisement is extensively used. Standard
bank strongly advocates the use of open advertisement. It feels that this type of
advertisement is most
Helpful in building company's reputation. Eventually, this causes a large pool of canciiciai.es,
which makes the sifting time consuming and the entire process a difficult one.
Managing director is the sole authority to approve manpower for any business or function.
To recruit new employees the concerned department head fills up the staff engagement
proposal forms and forward the same to the human resource department. The human
resource department evaluates the proposal and forwards it to the managing director with
comments if any. After receiving the approval from the managing director the human
resource department starts recruitment as per the preferred method.
On the job training is given to the employees and technicians. Sometimes managerial people
are given scope to participate in training program organized by different professional
institutions.
The content of the training program designed on the basis of nature ei business, needs of
the employees and the organization. Training is given frequently in the organization by the
immediate superior executive.
The company follows market based wage and salary system for their different incentives,
benefits like bonuses, festival bonuses, performance bonus, profit sharing, commission,
provident fund, gratuity, medical insurance, group insurance, accidental insurance are
prevailed in the organization.
The company maintains compliance in operating its business. The provisions of Labor act
2006 are followed in the company. The labor-management relation in the company is
acceptable. The company always tries to maintain good working environment.
Standard bank recruits fresh graduates for entry level. For mid-level and higher level they
prefer internal recruitment. ln case the competent candidate is not available then it recruits
experience people from the same industry. For the training purpose they use needs analysis,
Organizational analysis, Task analysis and Person analysis are used widely.
Chapter-04
SWOT Analysis of
Standard Bank Ltd
4.1 SWOT Analysis:
Every organization is composed of some internal strengths and weaknesses and also has
some external opportunities and threats in its whole life cycle. The following will briefly
introduce the Standard Bank Ltd internal strengths and weaknesses, and external
opportunities and threats.
Strengths:
Weaknesses:
Limited Workforce: Standard Bank Ltd. Green Branch has limited human resources
compared to its financial activities. As a result many of the employees are burned
withextra workloads and work late hours without any overtime facilities. This might
causehigh employee turnover that will prove to be too costly to avoid.
Poor technology Infrastructure: As previously mentioned, the world is advancing e-
technology very rapidly. Though Standard Bank Ltd has taken effort to join the stream of
information technology, it is not possible to complete the mission due to the poor
technological infrastructure of the country.
Opportunities:
Government Support: Government of Bangladesh has rendered its full support to the
banking sector for a sound financial status of the country, as it has become one of
the vital sources of employment in the country now. Such government concern will
facilities and support the long- term vision of Standard Bank Ltd. green Branch,
Dhaka.
Evolution of E- Banking: Emergence of e- banking will open more scope for the bank
ofreach the client not only in Bangladesh but also in the global banking arena.
Althoughthe bank has already entered the world of e-banking but yet to provide full
electronicbanking facilities to its customer.
Information Technology: Banking and information technology might give the
bankleverage to its competitors. Nevertheless there are ample opportunities for
StandardBank Ltd to go for product innovation in line with the modern day need.
Threats:
Mergers and Acquisition: The worldwide trend to merging and acquisition in financial
institutions is causing concentration. The industry and competitors are increasing
inpower in their respective areas.
Frequent Currency Devaluation: Frequent devaluation of taka and exchange
ratefluctuations and particularly South-East Asian currency crisis adversely affects
thebusiness globally.
Chapter-05
Recommendation
And Conclusion
Recommendations
Standard Bank Limited is a well-established bank in Bangladesh. It is providing high quality
services to the customer since 1999. But it has some limitations that are mentioned above.
Some recommendations are made to overcome these problems which are shown below-
Increased managerial supervision is very much needed to assess whether the target no. of
account is opened within specified time period.
General banking division should be divided into more sections because in General banking
division there are six sections which are directly related with customer. To improve service
for their clients SBL should increase number of employees in general banking division to
provide better services. Bank should improve personal relationship with their client through a
well-structured general banking division.
SBL should introduce prime rate for the best customers which will attract the good
customers. It is observed that sometimes irregular clients got facilities instead a regular
customer who does not get necessary facility.
To motivate the employees of SBL the bank should restructure the remuneration structure of
the employees by setting individual target for each employee for a specified period. The
manager should review each employee’s performance in case of achieving their target.
Introducer is an important factor for opening an account. Most of the new clients do not have
introducer. Bank should concentrate into the problem to increase new customers.
Bank should make the procedure of issuing card short and try to issue the card quickly.
Complain or suggestions box for the customers should be monitored regularly to identify the
dissatisfaction areas of the clients.As a loyal customer adds more to both the top line and the
bottom line of any business, and banks are no exception (Joshi, september21,2015)
To increase the level of customer satisfaction bank should offer new product and provide
better service depends on customers’ needs. They can introduce Islamic Banking wing in
GREEN ROAD Branch.
Monthly providing of account statements may increase customer’s loyalty to the bank. Also
the statement charge should be reduced as it is frequently needed today by their clients.
Bank should introduce ‘Night banking’ like BRAC bank if possible. Then customer will be
benefited and satisfaction level will automatically increase.
To The Bank
In order to improve the image of SBL, green Road Branch and to create enough public
awareness about the service offering, bank should establish separate marketing department
and R&D department. Plan should be developed to employ professionally qualified people
and induction should be confirmed after proper training. Green Road Branch should be
equipped with enough modern facilities. New strategies should be developed to divert a
qualify banking rather than quantity. The SBL should establish a small library at green Road
Branch so that employees can get knowledge whenever necessary.
To The Employees
Qualified and skilled should be promoted based on their performance level. The bank
should give proper attentive on staff training and provide facilities to encourage their
participation. Employees should be given due importance by giving special prizes and
incentives in order to increase motivation. The manager should build up value of jobs that
staffs do, praise good work for successes and foster a teamwork approach.
5.2 Conclusion
As an internee in student Standard Bank limited at green Road Branch. I have truly enjoyed
my internship from learning and experiencing the present working environment .I am
confident that three month internship program at this bank will definitely help me to realize
my career in present job market. During the course of my practical orientation I have tried
to learn the practical banking to realize my theoretical knowledge, what I have gathered and
going to acquire from various courses.
Lots of new commercial bank has been established in last few years and these banks have
made this banking sector very competitive. So, now banks have to organize their operation
and do their operations according to the need of the market. Banking sectors no more depend
on a traditional method of banking. In this competitive world this sector has trenched its
wings wide enough to cover any kind of financial services anywhere in this world. The major
task for banks, to survive in this competitive environment is by managing its assets and
liabilities in an efficient way.
During the course of my practical orientation I have tried to learn the practical banking to
realize my theoretical knowledge, what I have gathered and going to acquire from various
courses. It is great pleasure for me to have practical exposure of STANDARD Bank Limited,
because without practical exposure it couldn’t be possible for me to compare the theory with
practice.
So in conclusion it can be said that every organization has its positive as well as negatives
and in case of STANDARD Bank Bangladesh Limited existence of the later one is less than
the earlier one and as the management is determined to reach the pick of success it seems that
in near future the negatives will be eliminated. Eleven years is a very short span of time and
the organization, which can establish itself as one of the most reputed private commercial
Bank in the country within this short period deserves special credit and with their able leaders
STANDARD Bank will reach the highest level of success very shortly. I wish the bank all
success prosperity in their field.
References
1) Dr. Ulrich Block, J. H. (n.d.). Banking,finance and capital markets. von
Boetticher is your specialist in all matters of banking,finance and capital
markets.
3)Labelle, J. (12 May,2015). What are the key aspects of financial services and
banking?
.
Abbreviations
SBAL Standard Bank Ltd
GB General Banking
STD Short Term Deposit
CDTF Current Deposit Twenty Five
CDF Current Deposit Fifty
IBC Inward Bills Collection
OBC Outward Bill Collection
PO Payment Order
NCB Nationalized Commercial Banks
PCB Private Commercial Banks
FCB Foreign Commercial Banks
DD Demand Draft
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