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INTERNSHIP REPORT
JS Bank Limited
Katcheri chowk Sialkot road wazirabad
MBA (FINANCE)
INTERNSHIP REPORT
Supervised By;
Signature
Name
Designation
Chairman
Signature
Name
Acknowledgement
Every praise is due to Allah alone the merciful and teachings of His Prophet
(Peace and blessings be upon him) who, for ever, a torch of guidance and
knowledge of kindness as whole.
I would like to thank,
Almighty Allah whose blessings are always with me.
To my teachers at all my stages of study who always guided me in right
direction.
To all my friends from whom I learned much.
To the staff of the JS Bank Limited Katcheri chowk Sialkot road
wazirabad who fully cooperated with me in the completion of my Internship.
TABLE OF CONTENTS
ACKNOWLEDGEMENT
..3
EXECUTIVE
SUMMARY....4
ORGANIZATIONAL
INTRODUCTION
.6
OVERVIEW.
...8 INVESTMENT
.10
KEY
MANAGEMEMT
12
PRODUCT LINES AND
SERVICES.15
PRODUCTS
..21
EXPORT
SERVICES.
29
3
IMPORT
SERVICES..3
1
LOANS
......33
PEST
ANALYSIS..
..35
ORGANIZATIONAL
STRUCTURE...37
CLEARING
40 INTERNSHIP
EXPERIENCE.45
CONCLUSIONS
.......46
SWOT
ANALYSIS...
47
FINDINGS
RECOMMENDATIONS.
49
REFERENCES
55
Executive Summary
INTRODUCTION
Background of Studies:
Propose of studies;
Scope of Studies:
Objective:
JS Bank Limited has been formed after the merger and amalgamation of
Jahangir Siddiqui Investment Bank Limited and commercial banking
operations of American Express Bank Ltd Pakistan. JS Bank Limited
commenced operations in Pakistan as a fully scheduled bank on December
30, 2006. JS Bank Limited also has a Primary Dealer license for government
securities from the State Bank of Pakistan. JS Banks focus is to provide a
6
quality and innovative range of banking services and products. The Banks
key activities can be categorized into three Business Units:
Retail and Consumer Banking
Treasury
Corporate & Commercial Banking
Investment Banking
Presently JS Bank has laid its footprint across metropolises of Pakistan with
plans to expand its outreach with more branches nationwide this year.
JS Group controls and operates market-leading financial services companies
in Pakistan across sectors including asset management, commercial banking,
Islamic banking, insurance, investment banking, financial advisory services,
stock brokerage, company research, consumer credit rating, factoring and
micro finance.
JS Group also has investments throughout Pakistan's economy, including its
industrial sector, technology & media sectors, commercial real estate,
energy & natural resources and aviation.
Nature of organization
JS Bank Limited (the Bank), incorporated in Pakistan, is a scheduled
bank engaged in commercial banking and related services. The Bank
is listed on Karachi Stock Exchange in Pakistan. The Bank is a
subsidiary of Jahangir Siddiqui & Company Limited ("the parent
company"). The registered office of the Bank is situated at Shaheen
Commercial Complex, Dr. Ziauddin Ahmed Road, Karachi and it
operates
With 131 branches / sub branches in Pakistan. The Pakistan Credit
Rating Agency Limited (PACRA) has assigned the long term credit
rating of the Bank at A ("single A")and the short term rating at A1 ("A
One") with stable outlook
JS Bank Limited
Type
commercial bank
Industry
Money centre bank
Founded
December 30, 2006
Headquarters
Karachi, Pakistan
one of the largest and most high profile business and financial services
groups of Pakistan with interests in a diverse range of areas like financial
services, insurance, banking, transportation, information technology, energy,
agriculture and media. JS Bank was formed on January 1, 2007 from the
amalgamation of the Jahangir Siddiqui Investment Bank (JSIBL) and American
Express Bank Pakistan Operations. Since then JS Bank has emerged as one of
the fastest growing and most dynamic banks in Pakistan, deploying one of
the fastest roll-outs in areas like network expansion, alternate delivery
channels as well as new product introductions.
JS Bank was formed as a result of the amalgamation of the Jahangir Siddiqui
Investment Bank (JSIBL) and American Express Bank Pakistan Operations.
This was a very unique mix of a leading local business group taking over
what was the oldest multi-national bank in Pakistan with over half a century
of experience of working in the Pakistan market. While these two banks had
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Basir Shamsie
Banking Group Head Treasury & Investment
Mr. Basir Shamsie joined the Jahangir Siddiqui Group in 1994 and
presently heads the Treasury & Investment Banking of JS Bank Limited.
Before joining the JS Group, he worked in the Finance function at
Upjohn Pakistan.Mr. Shamsie has received his Bachelor in Business
Administration with a major in Accounting from University of Texas at
Austin, USA. He is a graduate of Program for Leadership Development
from Harvard Business School, USA.
Karim Sultanali
Group Head Corporate & FI Banking
Mr. Karim Sultanali holds a Masters Degree in Business
Administrationfrom Institute of Business Administration (IBA) Karachi
and is also a qualified Chartered Financial Analyst from CFA Institute
USA. He is a Diploma Associate of Institute of Banker PakistanMr.
Sultani has almost 19 years of diversified experience in the banking
industry. Prior to joining JS Bank, he was working with Arif Habib Bank
as Executive Vice President and Head of Credit Division.
M. Khalil ur Rehman
Chief Operating Officer
Mr. Rehman is a senior executive with over 31 years of diversified experience
in banking (operations and reengineering). He has been associated with
American Express Bank since 1993 and has held various positions in credit
administration and operations in different cities. Prior to this, he has worked
at Mashreq Bank Limited and United Bank Limited.
Kamran Jafar
Group Head Retail Banking
A seasoned Banker with thirteen years of a proven track record in Banking,
Mr. Kamran
10
Jafar began his career with JS Bank in February 2008 as EVP / Regional Head
Retail Banking - (North). He joined as a member of the Retail Banking Core
Business Team and was instrumental in the countrywide roll-out of the
Banks branches and product suite. He took over responsibilities as Branch
Banking Head, along with the additional responsibility of Group Head Retail
Banking in July 2010. He has since then been the driving force of the effort to
ensure that the Retail Banking Group continues with its expansion and
successful drive towards countrywide profitability.
Muhammad Yousuf Amanullah
Chief Financial Officer & Company Secretary
Mr. Muhammad Yousuf Amanullah is a Chartered Accountant from the
Institute of Chartered Accountants of Pakistan in 1999 and a Cost and
Management Accountant from the Institute of Cost and Management
Accountants of Pakistan in 1998.
.Mamoon Hameed Farooqui
Group Head Credit & Risk Management
Mr. Mamoon Hameed Farooqi has 42 years of diversified banking experience
and has various banks on his resume, like UBL, BCCI, PICIC Commercial Bank
and NIB.
He spent major part of his career in Credit & Risk function in above banks.
Besides Credit & Risk, he also has working experience in Branch Banking and
Credit Admin functions.
Muhammad Iqbal Saif
Group Head Internal Audit & Inspection
Mr. Muhammad Iqbal Saifi did his MBA from IBA in 1968 and also did DAIBP in
1979. Mr. Saifi has 42 years of diversified banking experience and has
various banks under his portfolio like Habib Bank, BCCI, Union Bank, PICIC
Commercial Bank and Bank Alfalah.
Services and products
11
ACCOUNT
Retail Banking
Stop Payment
Chequebook Issuance (25 leaves)
Small Locker*
ATM Card Issuance**
ATM Card Annual Fee Waiver
Telex / Postage
Statement Issuance
Balance Certifcate
Rupee Current Account
A non-proft bearing account,
the Rupee Current Account is primarily geared towards individuals and
companies that have a large turnover of cheques. There is no initial
balance requirement to open this account.
Free Online Inter-city Funds Transfer
Free Return Cheque (outward)
Free Demand Draft and Pay Order Issuance
Counter Cheques
Collection Cheque (Local)
Retained Mail
Stop Payment
Chequebook Issuance (25 leaves)
Small Locker*
ATM Card Issuance**
ATM Card Annual Fee Waiver
Telex / Postage
Statement Issuance
Balance Certifcate
PLS Rupee Saving Account
The JS Bank PLS Saving Account is a Profit and Loss Sharing account that
empowers you to get good returns from your savings with security and
convenience. With this account you can avail the following services
absolutely free of charge:
Free Online Inter-city Funds Transfer
Free Return Cheque (outward)
Free Demand Draft and Pay Order Issuance
In addition to this, by maintaining an average monthly balance of PKR
13
100,000 in your PLS Saving Account, you can get the following services
along with the ones listed above absolutely free:
Counter Cheques
Collection Cheque (Local)
Retained Mail
Chequebook Issuance (25 leaves)
Small Locker*
ATM Card Issuance**
ATM Card Annual Fee Waiver
Telex / Postage
Statement Issuance
Balance Certifcate
Rupee Basic Banking Account
Rupee account that can be opened with Rs 1,000/= as minimum balance
requirement. I deal for salaried persons and individuals with low
transaction turnover need.
No transactional charges up to 2 deposit transactions & 2 checking
withdrawals.
No minimum balance requirements.
No charges to maintain the account.
Country wide banking facility.
Rupee Fixed Deposits
Avail Fixed deposits products with different tenors and competitive rates. You
can place your idle deposits available in Current, Savings, Kamiyab or Rupee
Plus account and reap the benefit of optimum return.
Various tenors
Disbursement of proft based upon your choice.
Services
Foreign Currency Account
Current & Savings accounts in USD, Pound Stg, and Euro are
available.
Loans & Running Finance
They offer Running finance & Loan facilities against Deposits and Govt. of
Pakistan securities to be used as collateral. A dedicated Relationship officer
will look after all your credit needs.
Quick processing
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Competitive rates
Western Union Home Remittance
Fast and reliable way for receiving money transfer from across 190
countries & territories worldwide.
No bank account needed.
Regular money transfers are usually available within minutes for
pick up by the recipient
Receive inward remittance from anywhere in the world.
Sale & Encashment of Govt. Of Pakistan Securities
they are authorized agents to sell and Ancash Govt. of Pakistan
securities (Defense saving certifcates & Special savings
certifcates.) Our account holders can avail this facility from our any
of the branches.
Countrywide Account Operation
you can operate your account from any of the branches of JS Bank Limited.
They have aggressive plans to expand our branch network giving our
customers a wider branch network. (Subject to approval from Regulatory
authorities.)
Deposit& withdraw cash
Issuance of Pay orders & Demand draft.
Statement of account printout
Tele-banking
Accessible via pin code a 24/7 phone banking facility for balance inquiry from
anywhere in Pakistan or overseas.
Obtain balances and details of the last fve transactions.
Offers account statements via fax.
SWIFT transfer
State of the art foreign currency account funds transfer system. From
Pakistan to overseas and vice versa. Local regulations apply.
State of the art SWIFT mode of payment, ensuring funds transfer in
shortest time.
Secure and efficient delivery system for inward and outward payments
Utility Bills payment
Public can conveniently deposit Electricity, Sui gas & PTCL bills at any of our
bank's branches.
Hassle free
Comfortable environment
15
PRODUCTS OF JS BANK!
Bancassurance
JS Banks bancassurance products provide you great value on your
savings, not only in form of higher returns but also an inbuilt insurance
coverage to protect costumer family from any unforeseen events in
life. They offer you unit-linked investment and life assurance products
in partnership with EFU Life Assurance Ltd., the largest private sector
life assurance company in Pakistan. The products combine the benefits
of investment plans with life assurance, enabling you to grow and
protect your wealth at the same time.
16
17
Roshan Kal
Life brings with it many challenges. Ensuring that you are always
successful in overcoming these challenges requires careful planning
and allocation of resources. One way you can do t hat is by
strengthening your finances. Whether, youre at the start of a career,
planning for childs education or wedding, or simply planning for your
own retirement, it is absolutely vital to secure your future by anchoring
your financial foundations.
Thats why They bring to you Plan RoshanKal Investment plan, a
flexible and high value saving and investment product underwritten by
EFU Life Assurance Ltd. RoshanKal is aimed at strengthening your
financial foundations and ensuring that your dreams become a
reality throughout
Life.
FEATURES OF ROSHANKAL
every contribution in RoshanKal is utilized to purchase units of the
EFU Managed Growth Fund. This is unit linked investment fund with a
balanced investment strategy.The objective of the fund is to maximize
capital growth by investing in a balanced portfolio spread across a wide
range of shares, government and other fixed interest securities and
cash.
The fund is managed by investment experts who adjust the mix of the
underlying investments in light of economic conditions and investment
opportunities.
JS Bank Visa Debit Card:The JS Bank Visa Debit Card gives you the freedom to make all types of
purchases with complete ease and security. So be it travel, shopping,
dining or simply stopping for fuel, with the JS Bank Visa Debit Card, you
are assured of a shopping experience that is:
Convenient
Shop at over 54,000 merchants in Pakistan and over 22 million Visa
merchants worldwide.
Connected
Get access to your cash 24/7 at over 4,000 ATMs nationwide and at
over 1.6 million ATMs worldwide.
Controlled
No interest payments with spending linked directly to your account.
18
19
Cash Free
Increased security with no need to carry excess cash.
JS Auto fnancing
an installment based loan which will be extended to individuals as well
as businesses for purchase of new/used/imported vehicles.
Product Benefts & Features
Quickest & Hassle-free processing
Personalize services
Low down payment {as low as 10% }
Flexible Tenure 1 - 5 years
First Year Insurance Financing/ up front
Early Settlement option { Nominal Charges apply }
Co-Borrower Facility
No -hidden
Charges
Step-up & Step-down facility
Free Tracker Device No monitoring charges
Replacement of Financed Vehicle
Financing 150,000 to 3,500,000
No down payment & processing fee before approval
Cash your car at 75% finance
Balloon Payment facility
We believe in sharing the joy of our customers by giving them benefits,
which are aimed at making customer's car buying experience an
exciting event.
Eligibility
Pakistani National
Salaried OR Self-employed
Minimum 20 & Maximum 65 Years Old (for business/self-employed
individuals)
Minimum 21 & Maximum 60 Years Old (for salaried persons)
Minimum net salary 12,000
1 month 1 year employment (conditions apply) or 1 year business
Power Speed Loan
Fastest approval in town, within 120 mins (conditions apply).
Payments
1. No Down Payment Before Approval
JS Bank is the quick and hassle free route to the car of your choice.
PEST Analysis
Political:
Economical:
Technological:
Insufficient communication infrastructure.
26
.
Contribution of Organization towards Economic Development:
27
PRESIDENT
SENIOR EXECUTIVE VICE PRESIDENT
SENIOR VICE PRESIDENT
VICE PRESIDENT
ASSISTANT VICE PRESIDENT
OFFICERS GRAGE I II III
ASSISTANTS
CASHIER
PEONS
Mr. Kalim-ur-Rahman
Chairman
Mr. Jahangir Siddiqui
Member
Mr. Maqbool A. Soomro
Member
Mr. Rafque R. Bhimjee
MAIN OFFICES OF ORGANIZATION
the main office of JS bank is in Karachi, Pakistan. It started its operations
during December 30, 2006
Management Committee
Department Contact Person
President & CEO Kalim ur Rahman
Treasury & Investment Banking Basir Shamsie
Retail Banking Kamran Jafar
Risk Management Mamoon Hameed Farooqi
Operations Khalil-ur-Rehman
Financial Control Muhammad Yousuf Amanullah
Corporate Banking & FI Karim Sultan Ali
Information Technology Imran Soomro
Human Resources Raja Abdullah Khan
Internal Audit Muhammad Iqbal Saifi
Administration Abid Hussain
Branch network
The system of regional and area offices for effective supervision and control
of branches. The banks branch network has been divided into 4
Regional Heads - Retail Banking
Department Contact Person
Regional Head South - I & II Ghaus Syed Ahmed
Regional Head South III Nazir Ahmed Shahwani
Regional Head Central Syed Imtiaz Bokhari
Major competitors of the organization
The major competitors of JS Bank are
29
Bank Alfalah
UBL
NIB
Allied Bank
AL habib bank
Faysal Bank
Clearing:Every bank performs the function of paying and collecting. The cheque
drawn on other bank by the customers of the bank is collected by the bank
for or without charging fee is called clearing. The bank through the
clearinghouse (State Bank of Pakistan) performs the function of clearing.
CLEARING HOUSE
A clearing house is a place where the representative of all banks get
together to settle the payment and receipts of Cheques drawn on each other.
FUNCTIONS OF CLEARING DEPARTMENT IN BRANCH
to accept transfer, transfer delivery and clearing Cheques from the
customers of the branch and to arrange for their collection
To collect amounts of Cheques drawn on members of local clearing house
sent for collection by Habib Bank Ltd. branches, not represented at the local
clearing house.
TYPES OF CLEARING: Outward clearing
Inward clearing
Outward Clearing
It includes those Cheques and other instruments which are sent by the bank
to other banks for payment on behalf of its own clients. Cheques are sent to
clearing house through local main branch
PROCEDURE FOR OUTWARD CLEARING
Account number of payee/endorsee is written on backside of the Cheques.
The investment and paying-in-slips are separated.
The instruments are sorted bank wise and branch wise.
Schedules are prepared.
Jottings of all the schedules are taken in the clearinghouse statement.
Amount of Cheques is written in delivered and to pay columns.
After balancing the
30
clearing is he4ld on last working day of our half yearly and yearly closing i.e.
30th June and 31st Dec. every year.
Functions of remittances
the remittance department is most deals with the Remittances customer. The
Js bank has connected with many Remittances company. JS bank provides
these services to all customers or they have account or not. The JS bank has
connected with Follow Company.
Express Money
Western Union
Ria Money
Friend Exchange Money
Dex Money
Other Instruments of the Operations Department
PAY ORDER
Pay order issued from one branch only be payable from the same branch. It
is normally issued for payment in the same city. It is normally referred as
banker's cheque
Get the application form.
Issue pay order after recovering cheques.
Do necessary vouchering.
Make entry in PO issue register.
All pay order shall be crossed" payees account only".
DEMAND DRAFT
Demand draft is difference with pay order. The demand Draft is issue by one
branch of bank and Payable at other branch of the same bank. In case of
agency arrangement demand draft issue by one bank and pay able to other
bank.
Example
The demand draft is issue by Js bank (WZD) the money paid by HBL (Guj).
CASH DEPARTMENT
All physical movement of cash in the bank is made through the cash
department. Normally cash department performs following functions
Receipt
Payments
Transfer of funds from one account to another
Handling of ATM
Verification
32
of signatures
Posting
Handling of prize bond
Cash receipt section
In this section Cash receipt section the consumer give cash with deposit slip
to casher. The Casher counts the amount and fill-up the deposit slip and
fulfils the other requirement.
Cheque payment
in this Cash payment section the costumer give the cheque to Casher. The
Casher cheques the consumer account. If account have that amount the
casher tally signature with the SS card signature, if signature tally the casher
paid money to costumer.
Letters of Credit
We issue Import Letters of Credit on your behalf that give you the advantage
with your suppliers. Our experts can advise you in drafting the LC terms and
conditions so as to protect your interests
Buyers & Suppliers Credit
To take care of your working capital requirements, JS Bank offers foreign
currency loans (FE25) and Rupee loans to finance your imports.
Guarantees
we issue Bank Guarantees on behalf of Importers for all approved purposes,
subject to availability of credit limits or against 100% cash margin.
1st of all it gave me the chance to get interacted with many experienced,
qualified and professional people to observe, learn and work with them.
2ndly the experience of a professional environment is going to help me out in
my own personal professional career that I will soon get started; hence Js
bank is my start with the professional environment.
Working in departments was a huge learning of different fields. Also working
with department heads they gave me a healthy and good experience to
experience different management styles that would be a great help for me in
future.
The interaction with the customer and the customer handling is a real
confidence enhancing activity. It really added a
Lot of my confidence and I could handle different attitudes and behavior
SWOT ANAYSIS:Strengths:
IN JS Bank Not cut amount on less the 10000 Rs
The free waivers is give less amount as compared to the competitors
The service charges low as compared to the competitors.
The advance full online system
The service process is easily as compared to the competitors
Not amount is cut in the trans out city transaction
The employees Salaries are very good so the employees are not financially
disturbed
JS Bank has fully automated transaction-processing systems
The provide good facilities customer as compared other bank
The JS bank Environment is very friendly
34
Weaknesses:
The JS Bank has less branch network in the country
The JS bank has not adequate number of branches as compared to its other
bank
The advertisement of JS bank is very less so Many people not know about
JS bank
The JS bank offer Limited locker facility to consumer, which do not fulfil the
requirements of customer.
Opportunities:
The bank increase the number of its branches in whole country
The bank can go in the foreign markets. It can increase its net income
through this manner
The bank can increase the advertisement to increase the customer
Threats
The other bank image in customer mind is big threat to JS bank in banking
sector
The economy condenser is
Threat for JS bank and other bank
Inconsistency in government policies
35
CONCLUSION:JS Bank Limited is concentrated on achieving its financial targets; JS Bank did
not lose sight of the future and its challenges. It continues to invest in its
man power training and up- gradation of I.T. infrastructure. Although in the
short run this will result in an increase in its administrative and capital
expenditure but in the long run will increase its efficiency in terms of real
cost reduction and increased product offering. In future it will invest heavily
into I.T. to bring further improvement in its service standards and also to
reduce our transaction costs. JS Bank future envisions expansion in terms of
geography, clientele and products. JS Banks management is setting our eyes
towards excelling amongst banks of the South Asian Region and would like to
improve even further on its rankings both domestically and regionally. Its
investment in technology and human resource will continue to prepare them
for the future challenges. Customer will be the centre of its focus to become
the Bank of choice for customers. JS Bank will continue to redesign.
FINDINGS & RECOMMENDATIONS:I may like to suggest some points regarding improvement, development and
competitive environment for any good and required need of customers
business.
36
37
REFERENCES
www.jsbl.com (25Jul-10:00AM)
http://www.jsbl.com/retail_banking.php?t=r (25 Jul-1:00PM)
http://www.jsbl.com/wealth_management.php?t=wm (28Jul-12:00)
http://www.jsbl.com/treasury.php?t=t (3Aug-12:00PM)
http://www.jsbl.com/corporate_banking.php?t=c (5Aug-11:00AM)
http://www.jsbl.com/careers.php?t=ca (6Aug-2:00PM)
http://www.jsbl.com/about.php?t=a (10Aug-3:00PM)
http://www.jsbl.com/network.php?t=n (15Aug-9:00AM)
http://www.jsbl.com/branch_network.php?t=n (16Aug-4:00AM)
http://www.jsbl.com/retail_banking.php?t=r#r (18Aug-8:00AM)
http://www.jsbl.com/retail_banking.php?t=r#std (20Aug-9:00AM)
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