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INTRODUCTION
Banking System
Banking services are extremely important for both economies developed and developing economy such as Pakistan. Banking services serve two primary purposes. First, by supplying customers with the basic mediums-of-exchange (cash, current accounts, and credit cards), banks play a key role in the way goods and services are purchased. Without these familiar methods of payment, goods could only be exchanged by barter (trading one good for another), which is extremely time-consuming and inefficient. Second, by accepting money deposits from savers and then lending the money to borrowers, banks encourage the flow of money to productive use and investments. This in turn allows the economy to grow. Without this flow, savings would sit idle in someones safe or pocket, money would not be available to borrow, people would not be able to purchase cars or houses, and businesses would not be able to build the new factories the economy needs to produce more goods and grow. Enabling the flow of money from savers to investors is called financial intermediation, and it is extremely important for the growth of economy.
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1. Formulation
In June 1957, Mr. Agha Hassan Abedi decided to open a Bank different from others, to provide modern facilities to trade and industry and to promote thrift and habit of saving amount common thereby stimulating the economy as a whole. Necessary were formalities completed for obtaining registration certificate from State Bank of Pakistan to perform business activities. After passing through all these formalities on 7th November, 1959 United Bank Ltd came into existence as a Schedule bank. The Head office of the Bank was established in the New Jubilee Insurance House, 1.1 Chandrigar Road Karachi. It was registered as a joint stock company. The bank was incorporated with an Authorized Capital of Rs. 20,000,000 and issued and subscribed and paid up capital of Rs 10, 00,000. Saigol family owned it and Agha Hassan Abedi was its first managing Director. It had posted a profit of 0.7 million in its first year of operation with just eight branches at Karachi.
2. Nationalization
As a policy of nationalization fourteen commercial banks were merged into five big banks. So consequently on 21st December 1974 Commerce Bank and Union bank were merged with the UBL. Mr.Mushtaq Ahmed khan Yousafi took over the charge of UBL. Now, there are six directors, a secretary and a president.
3. Privatization of UBL
UBL was the largest privatization attempted by the government of Pakistan, launched in June 2001, and with 21 interested parties. It was impacted by the adverse developments of the September 11, 2001 and was finally concluded in October 2002, which left stage only three bidders. The consortium comprising Bestway Group (BG), out of the UK and Abu Dhabi Group (ADG) from the UAE were finally the winners at a record price.
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Sale proceed was Rs 12350 million. This signaled the strong confidence reposed by these investor groups, in the improved governance of the country, the economic potential, the banking opportunity and the existing management of the bank.
4. UBL Today
Today they bank has taken progressive steps.
UBL online
Internet and mobile banking has been introduced.
UBL wallet
UBL wallet has been introduced to facilitate users to get immediate cash.
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MISSION STATEMENT
Vision
To be a world class bank dedicated to excellence and to surpass the highest expectations of Our customers and all other stakeholders
Mission statement
United Bank is going on the road of progress very successfully. Assessment of the needs and wants of consumers is an ongoing process at United Bank, which helps it to continually develop new products and services. At UBL, the philosophy is that the bank should go to all possible limits to satisfy the customer needs. The bank is continuously formulating new products and services for the growing and diversified needs of its everexpanding client base. The banks commitment to its customers is evident from its mission statement:
To provide innovative and high quality products to its customers at the lowest possible rates. To achieve all set goals regarding service, performance and goodwill.
Departments of UBL
The following are the main department of UBL: 1. 2. 3. 4. 5. 6. 7. 8. Deposit Department Lending Department Clearing Department Cash Department Remittance Department Account Department Bills Collection Department Internal Audit Department (only in HUB Branches)
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Competitors
Major Competitors
Habib Bank Limited MCB Bank Limited Allied Bank Limited
Other Competitors
Askari Bank Bank Alfalah Bank AL Habib Barclays Bank Pakistan First Women Bank Habib Metropolitan Bank Habib Bank AG Zurich JS Bank KASB Bank Ltd Silk Bank Limited (formerly Saudi Pak Commercial Bank Limited) Soneri Bank Samba Bank Limited
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MANAGEMENT
Over view of UBL
UBL has assets of over Rs. 550 billion and a solid track record of forty eight yearsin addition to the convenience of over 1000 branches serving you throughout the country and also at several overseas locations.
Date Established
November 7, 1959
Chairman
His Highness Sheikh Nahayan Mabarak Al Nahayan
Deputy Chairman
Sir Mohammed Anwar Pervez OBE
Branches
1079 Domestic, 17 Overseas Branches
Representative Offices
Tehran, Kazakhstan, China
Subsidiary
United Bank A.G. Zurich, Switzerland United National Bank Limited, UK (Joint venture with NBP) UBL Fund Managers Limited
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Associated Company
Oman United Exchange Company, Muscat
No of branches
1121 branches
Overseas branches
15 braches
Total asset
300 billion assets
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
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BOARD OF DIRECTORS
Chairman
His Highness Sheikh Nahayan Mabarak Al Nahayan
H.H Sheikh Nahayan Mabarak Al-Nahayan is an important and prominent member of the ruling family of Abu Dhabi. After the culmination of his studies at Oxford he returned to shoulder important responsibilities in the state administration. In 1988 he was appointed the President of the higher colleges of Technology comprising of eight colleges throughout the UAE a responsibility he fulfilled with distinction. In 1990 he was appointed Minister of Higher Education and Scientific Research. Presently he also holds the presidency of the Society of the Natural History and National Heritage. In 1992 he became the Chairman of the Union National Bank and has since remained involved in strategic management of the institution.
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Deputy Chairman
Sir Mohammed Anwar Pervez OBE
Directors
1. Director Mr. Omar Ziad Safari Al Askari
2. Director
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Others
Mr. Nauman Hussain Director Operations & Utilities Mrs. Rukhsana Asghar Global Head Human Resources Mr. Aameer Karachiwalla Chief Financial Officer / HCA Mr. Muhammad Ejazuddin Audit Chief Mr. Mansoor M. Khan Head Corporate Banking Group Mr.Ali Sameer Chief Special Assets Management Risha Mohyeddin Global Head, Treasury & Capital Markets Tariq Mohar Global Head, Establishment & Branch Operation
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Mr.M.A. Mannan
Deputy C.E.O
UBL has always adopted the policy to induct qualified people from different source available from home or abroad. Mr.M.A. Mannan was inducted by UBL from Citibank New York as the Dy. Chief Executive officer UBL. An MBA from IBA Karachi. Mannan started his career from Citibank Pakistan in 1991 where for the first nine years he worked in sales, distribution and marketing launching most of Citibanks new credit and depositor products during the nineties. He rose to become the Director of Marketing, Sales and Distribution at Citibank Consumer bank. He was then transferred to the U.S.A, the most matured and competitive consumer market in the world and was promoted to Senior Vice President, Cross Self Division covering a comprehensive array of customers and products. With his reputatation as a great team- builder and achiever, UBLs management firmly believes that Mannan will prove to a great institutional and national asset.
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Till recently Director HR Citibank Pakistan, she was instrumental in developing the talent base for Citibank, which led the institution to emerge as a major player on the financial scene. She served as a Vice President HR Citibank, Assistant manager Personnel at Lever Brothers Pakistan Ltd. Rated amongst the few HR specialists in the country the feather in the cap is Rukhsanas selection as one of the twelve members out of 101 countries to work on a global initiative relating to the paradigm shift in the role of human resources. The result were applied and implemented globally.
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Chairman
SEVP EVP
VP
Officer Grade-I
Clerical Staff
Officer Grade-II
Officer Grade-III
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Organizational Structure
Head Office
Provisional Head Quarters
Zonal office
Hub branches
Branches
Provisional Headquarters
Province
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MANAGEMENT STRUCTURE
President and Chairman of Board of Director Executive vice President General manager of
Deptt 1
Deptt 2 Deptt 3
Deptt 4
Deptt5
Zonal Incharge
Area Manager
Branch manager
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FIELD OF ACTIVITIES
Functions
In modern time commercial banks play a very important role and their functions are manifold. Primary functions of the banks are to take deposit and lending. They take deposits from different persons and lend to others. Beside this they undertake agency services and general utility functions. Some of the important functions are listed below.
1. 2. 3. 4. 5. 6. 7. 8. 9.
10.
Transfer money from one place to another. Accepting bills of exchange on behalf of customers. Purchasing shares for the customers. Collecting cheques and bill of exchange for its customers. Undertaking foreign exchange business Acting and executor, trustees or attorneys for the customers. Providing safe custody and facilities to keep jewellery, documents or securities. Furnishing trade information and tendering advice to customers Issuing of Travelers cheques and letters of credit to give credit facilities to travelers. Collecting interests due, dividend pensions and other sums due to customers.
Types of Banking
UBL perform almost all types of banking. 1. 2. 3. 4. 5. 6. Consumer Banking Commercial Banking Corporate Banking Investment Banking Relationship Banking Treasury
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Deposit
Deposits are called the lifeblood of Banks. To generate more deposit the UBL has offered the following attractive deposit Schemes. 1. 2. 3. 4. 5. Current Account PLS Saving PLS term Deposit (TDR) Notice Deposit Unisaver (daily Profit) 6. Unizar (foreign Currency Deposit)
Lending
1. 2. 3. 4. 5. 6. 7. Cash Credit Overdraft Loans (both short Term and long Term) Agricultural Loans Commercial Loan Corporate Financing Import Export Financing
Remittances
1. 2. 3. 4. Tez Raftar Money Gram Click n Remit (sending money from USA) UBL Money Direct (Sending money from UK)
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Lockers Facilities Utility Bills Collection TV/VCR Dish fee Collection Hajj and Umrah Services Uni remote
(All the above products and facilities will be analyzed in the next Sections)
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SERVICES OF UBL
After the privatization of UBL, the bank has taken progressive steps and introduced many new products and services for its valuable customers. The following are some of the important services:
1. 2. 3. 4. 5. 6. 7.
Cheque Encashment Facility UniCash Lockers Facility Hajj and Umrah Services Uni Remote Utility Bills Collection Dish TV fee collection
Features
this facility is available for UBL valued customers maintaining their Rupee PLS saving or Rupee Current accounts at any of the designated branch of UBL. personal UBL account cheques, whether favoring you or a third party can be encashed at any of the designated branch of UBL. the maximum amount per cheque can be Rs. 25,000 (at present) This facility is FREE OF COST if the balance in the customer's Rupee PLS Saving or Rupee Current account stays constantly at Rs. 100,000 or above and the cheque is encashed by the customer personally. In other cases the following charges will be applicable.
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i. Rs. 50 for a cheque presented for payment in different branch of the same city, where the customer holds his/her account ii. Rs 150 for a cheque presented for payment in a branch of a different city.
2. UniCash
Like other banks UBL has also ATM card, which has been given the name of UNICASH CARD. Now the customer can withdraw money from any ATM machine installed by UBL at different cash point. You can avail the following self-service banking facilities Balance Inquiry Mini Statement Cash Withdrawal
Features
1.Personal Identification Number (PIN) ensures that only you can use your ATM Card. 2.The PIN protects you against misuse in case your card is lost. 3.You can change your PIN anytime you want. 4.You can specify flexible weekly withdrawal limits. 5.You can withdraw your weekly limit in one go, or in multiple installments.
USAGE
You can use UNICASH Cards at UBL Cash Point located in the following cities
City Islamabad Rawalpindi Karachi UAE Bahrain Doha, Qatar Cashpoints 5 2 1 8 3 1
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ATM BRANCHES
For instant cash at any time of the day or night, without the hassle of queues and tokens, use one UBL ATMs in Pakistan or Overseas. In the UAE UBL have connected all its Automatic Teller Machines (ATMs) to the UAE ATM Switch, giving access to over 550 third party ATMs throughout the region to all our customers. UBL has signed with 1 Link ATM Switch Network, which comprises of 11 leading banks of the country. The signing ceremony was held on April 25, 2003 at ABN AMROs Head Office in Karachi. UBLs customers can use 165 ATMs on the Switch. The bank is also in the process of installing its own ATMs to facilitate its valuable customers.
Lockers Facility
UBL also provides its valuable customers with lockers facility for keeping their valuables in safe custody at very reasonable rate.
Hajj schemes
The following hajj schemes have been started by Government during the year 2003.
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Balloting
In case the number of applicants exceeds the prescribed quota, balloting will be held to determine successful applicant.
ELIGIBILITY
Only Pakistani NATIONALS are eligible to apply for Hajj. THE FOLLOWING ARE NOT ELIGIBLE Ladies in an advanced stage of pregnancy. Medically unfit & handicapped people without a helper or assistant Those infected by contagious diseases Ladies without Mehram (other than Ahle Tashee)
UBL has over 1000 branches collecting electricity, gas, telephone and other utility bills during business hours. Special bills collection counter in every bank Separate booths for utility bill collection are available at all major cities for the convenience of the public. Branches in all major cities have electronic bill collection machines. For your convenience, UBL accepts cheques for payment of utility bills. Drop box facility.
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Current Deposits:
Current deposit account can be opened with the minimum amount of Rs.5000. In this type of account the client is allowed to deposits or withdraw money as and when hi likes. Usually the businessmen open this type of account. No interest is allowed by the bank and no service charger is deducted by the bank on current deposits account.
PLS Term Deposit is that type of deposit that is maintained for a fixed period of time. Minimum period is 3 months and maximum is 5 years. PLS Saving Account can be opened with the minimum amount of RS 200. Minimum amount of Rs 10000 must be maintains in order to earn profit. No profit will be allowed below Rs 10000 and bank will charge Rs 200 service charges below Rs. 10000.
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Fixed Deposits
In this type of account a certain amount is deposited for a certain period such as six months, two years or longer. It is also called time liabilities of a banker. They are called so because the money is payable on expiry of a fixed period of time only. The terms and condition of this deposit are regulated by central bank for this purpose. Fixed deposits are two types 1. Notice Deposit Receipt 2. Term Deposit Receipt
2. Lending
The bank is an intermediate party between the borrower and the lender. It borrows from one party and lends to another. The difference between the rate of interest it borrows and lends is called the spread, and is the income of the bank. Lending is the main source of income.
Principles of Lending
The following are the principles, which the bank follows while advancing loans. 1. 2. 3. 4.
5.
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6. 7. 8.
BUSINESS SEGMENTATION
UBLs credit process is built around the following basic customer constituencies: Corporate Commercial/Small & Medium Enterprise (SME) Consumer Investment Banking Treasury and Capital Markets International Division Financial Institutions Division Islamic Banking Group Business group heads will prepare their annual plans with projected financial results and strategies, and manage actual transactions and portfolios consistent with their asset writing strategies. These groups are also responsible for monitoring their performance for continual improvement.
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This group aims to fulfill necessary business needs of its customers, which are more numerous than corporate clients. However, their individual requirements are relatively much smaller than those demanded by corporate clients. In view of the peculiar nature of this business segment, which involves a higher turnover, a much wider network is needed.
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Although the Corporate Banking Group supports the product line of the Investment Banking Group, the special nature of these products demands a more active involvement of risk management. Transactions such as Project Finance offer limited recourse and such transactions need to be structured in a way as to mitigate inherent risks. Risk management is to be proactively involved in Investment Banking Group transactions, right from the time of initiation until the time of execution.
International Division
The International Division manages overseas operations including credits handled by the network of overseas branches. With careful planning and detailed surveys of the market, the International Division will explore better quality businesses and products and manage them efficiently to enhance UBLs profitability and turn the overseas branch network into a highly profitable unit of the Bank. The Global Credit Risk Management Division monitors and manages the risk, credit process and procedures at overseas branches.
Like the Corporate Banking Group, the Financial Institutions Division also operates with a structure of relationship managers, providing comprehensive solutions to its clients. In order to strengthen the divisions credit analytic capabilities, the Financial Institutions Risk Management Unit oversees the risk related to financial institution related transactions. The Financial Institutions Risk Management Unit is part of the Risk Group.
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Policy
Business groups will formulate target markets in coordination with the Credit Policy division for all business segments as well as for new products. Target market formulation will be conducted through utilization of industry studies. Product Process Manuals will be prepared to facilitate marketing and quick approvals for standard products. Target market studies and Product Process Manuals are subject to continuing refinement as business units mature, information accumulates on risks and/or products, and environments change. Therefore, they must be revised periodically. Target markets will be approved on a minimum of an annual basis. This will form part of Business Groups Plans. INTERNSHIP REPORT ON UBL Page 36
Credit presentation must clearly indicate that it conforms to the relevant target market plan, and is consistent with the relevant Risk Acceptance Criteria. Any exceptions to the target market plan and/or Product Process Manuals should be reasonable in amount and number, addressed logically, and adequately approved and documented.
Responsibilities
Each business group will prepare its own target market plan that applies to its own business. Guidelines will be submitted to the Credit Policy Division and approved on an annual basis. Product Process Manuals will be originated and recommended by respective Business Units and will be approved by respective Group Heads including Group Executive (Risk & Credit Policy). For matters relating to the Credit Administration Division, Operations, and Treasury, relative Division Heads and/or Group Heads will also be consulted. Development of Product Process Manuals is an ongoing process, made all the more necessary as more innovative products come on line. A list of currently approved Manuals is shown in Annexure No. III. Credit Proposals need to be in line with target market screens. Risk Acceptance Criteria screen scoring and respective hurdle scores become effective for those industries where industry studies have been completed and Risk Acceptance Criteria are in place.
Products
Development of products at UBL is need based and is market dependent. Innovative products will continue to be formulated as and when required. Apart from the below, Policy Credits may be allowed in such cases where policy considerations are preferred over normal credit standards. On the recommendations of Credit Committee, the approval of such credits is allowed, on an exceptional basis, by the President. All politically sensitive credits as well as credits linked with persons holding public offices, above Rs. 10 million, shall be approved by the highest Credit Committee.
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Under this type of financial accommodation, the borrower is allowed withdrawal in the current account to the extent of the sanctioned limit. The facility is generally provided against pledge or hypothecation of goods or any other tangible security acceptable to the Bank. The customer would be required to adjust the advance periodically or within a specified period. In the International Division, this facility is also known as Clean/Secured Overdraft (COD/SOD).
The document has been drawn strictly as per the terms of the letter of credit; All direct bank expenses i.e. foreign correspondents charges, claimed by the opening/reimbursing bank, if any, shall be recoverable from the exporters unless it is expressed in the letter of credit that the charges are on the openers account; INTERNSHIP REPORT ON UBL Page 38
Due care and necessary precautions are exercised before negotiating/discounting of documents, as per instructions issued by the relevant authority from time to time. Reimbursement instructions in letters of credit shall be carefully studied before negotiating/discounting of documents; and If the bill of exchange is accepted by a Bank approved by the Financial Institutions Risk Management Unit, the associated risk for discounting will be considered Bank Risk. A letter of indemnity is to be obtained from the client.
Inward Foreign Documentary Bills for Collection under usance (DA) L/C (IFDBCs)
Import documents received under DA letters of credit are lodged in IFDBC and released against: Acceptance of bill of exchange and execution of Trust Receipt. Pledge of imported goods. In case goods are pledged with the Bank, goods will be cleared through Banks approved clearing & forwarding agent and delivery orders issued against cash receipts. Collateral security against mortgage of property, pledge of Government Bonds, Postal Deposit Certificates, Banks own Deposit Certificates etc. duly assigned in Banks favor. For relaxation in obtaining collateral security, approval of Credit Committee will be required prior to opening of DA letter of credit.
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WORK DONE BY ME
At my first day in UBL club road Sargodha , Mr. Mubashar hassan Head RCAD (Regional credit administration department) had introduced me with different persons and department of the bank. After that I had personally visited every department one by one and observed what was happening there. All the officials cooperated me very much and provided me information, which I needed. They also provide me, various information about bank affairs, which I have not known previously. Some of my observations and experience are discussed below.
Types of financing
Agri- financing
In agri financing, funds will be provided for agricultural purpose .
Commercial financing
In commercial financing, funds will be provided for business purpose up to limit of fifty million.
Corporate financing
In corporate financing, funds will be provided for meeting needs of large organizations above fifty million. Corporate financing is controlled by RCAD (Regional credit administration department).
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2. Financial Analysis, Evaluation and Processing of Credit Line Proposals. 3. Monitoring of Credit portfolio through Client visits, Factory visits, Inspections and prepare Call Reports, Visit Reports in this regard. 4. Responsible for the compliance of all Pre-approval instructions I regulations issued from time to time by Head Office Credit Policy, SBP and other regulatory bodies including obtaining CIB, Borrower Basic Fact Sheet, Compliance of ratios as required under Prudential Regulations, Per party limit etc.
Credit Administration:
1. Disbursement of Credit Facilities including Preparation of Security / Charge documents,
2.
3. 4. 5. 6.
perfection of collateral, Ensure compliance of SBP regulations I Credit Policy, HO Circulars & Issuance of Disbursement Authorization Certificate (DAC). Regular Monitoring of Collateral & Asset based portfolio through Weekly Roosters / Diaries, CARS Reports, Credit Maintenance, Identify exceptions and follow for the rectification of the same. MIS related to Credit & Credit Admin. Department. Monitoring of Markup accruals, recoveries thereof. Liaison with various outside agencies (RCAD Head). Miscellaneous Jobs.
Pledge of any Commodity Financial Guarantee Hypothecation of Assets Movables Current Assets Receivables Plant & Machinery INTERNSHIP REPORT ON UBL Page 44
Mortgage of Properties Equitable Mortgage Equitable Mortgage with Token Register Mortgage Registered Mortgage
Clean (SBP has allowed Clean financing upto Rs.500,000- ) Personal/Corporate Guarantee Counter Guarantee
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Shares
Ensure that all blank fields of Letter of Lien and Schedule of Securities are properly filled in with all detail of the instruments including CDC Account Ensure that shares are in marketable lots and is on CDC. Obtain CDC Activity Report from Treasury Middle Office before disbursement. Daily monitoring of share prices at Stock Exchange is the responsibility of Treasury Middle Office, and margin calls to be generated as and when advised by the Treasury Middle Office in case of short fall arise.
NIT Units
Ensure that all blank fields of Letter of Lien & Set Off and Schedule of Securities are properly filled in with all detail of the instruments including Sr. No., Denomination, No. of Pieces mid Total amount. Amount of face value of the instruments be specified in the Schedule of Letter of Lien & Set Off. INTERNSHIP REPORT ON UBL Page 46
Ensure that shares are in marketable lots. Blank transfer deeds I Surrender Deed duly executed by NIT Unit holder for each lot have been obtained. Signature of NIT Unit holder must be verified by the company on each Transfer deed! Surrender Deed.
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joharabad about 600 causes,multan about 500 causes and Sargodha about 1200 causes and assist the MIS OFFICER in the uploading in the ubl networking software SYMBOLS.
Other task
arrange all the vouchers of expenses 2012 in the expense file in ascending order such that the most recent voucher comes first in the file Update all the expense file data in the MS Excel sheet prepare the check list of quarterly call reports of all the commercial clients. Understand him CA of commercial clients and assist Documentation officer in noting different important values. Help the processing officer in uploading different values of property causes in SYMBOL
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SWOT ANALYSIS
An analysis indicating towards the organizations strengths, weaknesses, opportunities and threat is termed as SWOT Analysis. Such an analysis is very important for the management in retaining the strength, overcoming the weaknesses, capitalizing over the emerging market opportunities, and carving ways to successfully tackle with the threats and ultimately converting them in the strengths for the organization.
STRENGTHS:
Strong financial backing Internal services assessments and timely review of employees performance. Providing the secure, safe and reliable services to the customers 9:00 to 5:00 non-stop banking Electronic banking Telephonic banking. Expansion in branch network Friendly working environment International Branches Excellent credit rating
Weaknesses:
High employee turnover Lack of research & development Slow career advancement Lack of proper advertising like sponsoring of any festival or event like sports etc. Less job security Decision making process is slow and time consuming. Lack of research and development. Decision making process is slow and time consuming. Lack of research and development
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OPPORTUNITIES:
More innovative products and services The role of personal bankers and relationship managers may increase its market share High salaries and bonus opportunities for attracting employees of other banks Global Expansion
Threats:
SBP prudential regulations for banks Market Saturation Slow industrial development Lack of Promotion and Advertisement Increased competition
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Recommendation
During my internship in United Bank Limited, I got some knowledge about banking system. Here, I deeply observed the functioning of the branch. In the light of these observations, I suggest the following recommendations for further progress.
1) Branch Premises
Branch working environment should be improved and renovated with latest furniture. Sufficient car parking for customers is not available here, so sufficient service area and seating arrangements must be provided for customers.
2) Staff Behavior
Staff behavior in term of customer dealing should be uniform for all customers, without any favoritism that discourages the other clients.
3) Lengthy Procedure
The book keeping system and filling system of the bank is so lengthy and time taking. So staffs document processing time, should be reduced to improve working efficiency through proper training.
4) Proper Check
The cheques payment service and other bills receiving service is very slow, In this way they deliberately waste time of their customers. Therefore, there should be a proper check of manager on them so that they can recognize and understand their responsibilities.
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5) To Be Conscientious
It is usually observed that staff members waste lot of valuable time while performing their duties. During my training period, I felt that all staff members make a lot of unnecessary telephone calls while dealing with their customers. In this way they not only waste a very precious time of their customers, but also waste the wealth of the country.
Other Suggestions
New blood should be injected and young professionals should be recruited on merit to induce
enthusiasm in the bank. Customers should be focused of all activities to boost up the business.
New marketing strategies should be developed to attract new customers. Maximum automated machines should be used. Security should be strengthened to minimize the chances of decoities. The workers should be given a sense of teamwork and the manager should be trained to
manage the team as good leader.
There should be a proper check on staff members so that they become punctual and
conscientious.
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CONCLUSION
Steady growth and development of business over the last few years have placed United Bank in a very good competitive position. A strengthened capital base will enable it to expand in new areas while core products will continue to be strengthened/ developed to contribute towards higher profitability. The key to success in this competitive environment is innovation and foresight. I feel compelled to say that working as an internee has truly been a remarkable experience. It was only during the course of this practical training that I got to discover its real meaning.
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REFERENCES
Web sites
www.ubl.com.pk www.google.com www.wikipedia.com www.merapakistan.com www.allfreeassays.com www.marketingteacher.com
News papers
BANKING JOURNAL www.dawn.com www.nation.com.pk
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http://www.docstoc.com/docs/12164051/UBL-Bank
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