Letter of Transmittal

21 December 2008

Mujahid Mohiuddin
Course Instructor
Department of Business Administration
East West University
45 Mohakhali, Dhaka1212

Subject: Submission of term paper. 

Dear Sir

Here is the assignment that you have asked us to prepare for our course of Sales Management 
(MKT­401) on the Banking Industry consists of Premier Bank.

We have done a little survey for this project and did it as per as your instructions. We are
encouraged and enthusiastic by collecting the details for the preparation of this report. Taking
the direct assistance of the primary and secondary source, we prepared our project.
Undoubtedly, we have learned a lot and have gained remarkable experience.

We sincerely hope that all our effort will be a success if you go through this paper. We truly 
appreciate this assignment and should you need any assistance in interpreting, please call on 
us.

Yours sincerely

                                                                       
Md.Iftkhar Sarwar                                                 Md. Saroar Firoj
 ID # 2004­3­10­111                                                    ID # 2005­1­10­159

 
   
 Shahida Akther                                                          Md. Mazharul Islam
 ID # 2005­1­10­154                                                    ID #  2005­1­10­111
   
                                                                     
                                        _____________________ 
 Jahidul Islam                                                           Md. Abdus Salam
  ID # 2005­1­10­150                                               ID# 2004­3­10­ 082 

                                                   

ACKNOWLEDGMENT

First of all we would like to thank Md. Mujahid Mohiuddin; our admirable and
respectable course instructor of Sales marketing (MKT 401). He has helped us a lot by
giving us his precious time and directed us properly through a guideline to clear our
confusion about the report. He also helped us by giving various advices as well. While
making this report, we have got to know many new terms, ideas related with our subject.

We are extremely fortunate to have Md. Mujahid Mohiuddin who has always been
among us with his support and encouragement. We would also like to thank Sir for his
full cooperation through out the semester. We could not prepare this report without his
valuable lecture and advices.

We are also grateful to those who helped us by providing a lot of information and also
our respondents who gave their valuable thought at the time of making report and also
our university computer lab to use internet to bring important information about our
report. May be it would have been impossible to finish the report within the time without
this facilities.

Last but not the least; we are very proud and lucky to have such friendly classmates and
group who helped us a lot whenever and wherever we want to.

                                                         
Contents

1. Introduction of the Industry…………………………………………… Page:9-12

2. Company Information…………………………………………………..Page:13-26
a. Background……………………………………………………..Page-14
b. Marketing Offer…………………………………………………Page-21
c. Brief description of other marketing mix……………………….Page-25

3. Design of the Sales Force………………………………………………Page-27

a. Objective set by Company……………………………………...Page-28
b. Structure of the Sales Force…………………………………….Page-28
c. Duties and responsibilities of the concerned personnel……… Page-29
d. Minimum qualification required………………………………..Page-29
e. Size of the Sales Force………………………………………….Page-30
f. Strategy followed……………………………………………….Page-30

4. Management of the Sales Force: …………………………………….…Page-31

a. Recruitment and Selection procedure. …………………………Page-31

b. Training…………………………………………………………Page-32
c. Supervision……………………………………………………...Page-32
d. Motivating and compensating………………………………… Page-33
e. Controlling and evaluation of Sales Force. …………………….Page-33

5. Role of salesmanship and sales management in the banking industry… Page-34

6. Market potential, Sales potential, Sales forecast, Quota, Sales budget, etc. Page-35
7. Maintenance of relationship: Internal & External………………………Page-37
 EXECUTIVE SUMMARY

There is no denying the fact that banking sector in Bangladesh is continuing to strengthen
its position by expanding its core business activities. The term paper is a comprehensive
study of the Banking Industry of our country. For this purpose we have selected a third-
generation commercial bank of the country that has surpassed many second-generation
and first-generation banks and that is Premier Bank. They believe that building strong
relationship with all stakeholders, customers, is crucial for their growth and prosperity.
Technology and competition have made it vital for them to forge stronger bond with
customers to meet their need at their convenience. They put emphasis on meeting this
continuous challenge of managing relationship. Their significant achievements over the
past years both financial and strategic are solid indications of their strength and potential.
They have effective corporate governance practices and efficient sales force which are
essential to achieving and marinating public trust and confidence in the banking sector,
which are critical to the proper functioning of the banking sector and economy as a
whole. Through the report, we try to find out the efficiency and effectiveness of their
sales force and sales management. So far they believe that they are well positioned to
become a more important partner with their existing clients, to win more share of new
business and to achieve their goal of generating positive operating leverage on a
consistent basis. Looking forward, they remain confident that they have the right people
and right strategies in place to maintain their growth and the bank will continue to
successfully deliver excellent results, meeting their financial and operational objectives
as well as the needs of their customers and their people.
During the analysis we had acquired information by asking the sales managers based on 
our   questionnaire.   The   experiences   and   excitement   that   we   gather   was   really   worth 
mentioning. The overall environment and absolute friendly behavior of them totally drew 
our attention and created strive to work in this term paper. Lastly the whole assessment 
and research gave us a clear concept about the sales management of those banks  and 
enable us to prepare a clear and organized review for our project.
 INTRODUCTION

BACKGROUND OF THE REPORT

Our course Instructor Mujahid Muhiuddin, Department of Business Administration, East 
West   University   of   Dhaka   assigned   this   report   to   us.   This   report   is   a   part   of   the 
curriculum of the course "Sales Management" offered to us during the BBA program. 
This report is prepared on the Banking Industry of Bangladesh consists of Premier Bank.

OBJECTIVES OF THE REPORT

Sales Management course help us to improve our sales skills. It will be helpful for our 
future and our practical life.   Our Instructor  Mujahid Mohiuddin  taught many things, 
which helped  us to prepare our report. Main goal is product selling skill improvement. 
We know theoretical and practical these two things are so different. When we went to the 
bank to enquiry, we faced so many problems. The board objective of the term paper is to 
design a sales force and sales management issues of the selected bank which is Premier 
Bank.
Broad Objective
In a broader sense, we prepared this report to apply the knowledge that we have 
gathered from MKT401 course in a practical work. 
Specific Objectives
• To provide an overview of the banking industry
• To identify existing management procedure of the sales efforts of the industry
• To identify the benefits & opportunities of a more effective sales force
• To provide with suggestions for the improvement & future action
 SCOPE OF THE REPORT

The term paper is a comprehensive study of the Banking Industry of our country. Our
admirable Instructor Mujahid Mohiuddin was very helpful to us for preparing this report.
We got many facilities from web site. We are also grateful to our administration as they
provide us with the facility to use computer labs for browsing net. Maybe, it would have
been impossible to finish the report in time if we did not get the facility to using net for
our own purpose.

CONTRIBUTION OF THE REPORT

Commercial Contribution
Our   report   findings   will   help   different   banks   in   Bangladesh   to   take   proper 
decision on designing and managing their sales force which will generate higher profit in 
the long run.
 

METHODOLOGY

To prepare a report we need various kind of information. We also collect company’s 
information from different sources. We collect some information from company, some 
collect from company’s web site, some collect from retailers. Company’s GM, Manager 
and employs are so helpful. With out their help we can’t prepare our report.

The entire report is made on the basis of primary data taken from the books, web 
sites and journals.
 The secondary data’s were collected by the filed survey and by taking interviews of 
the employers of the particular bank’s various branches.

LIMITATION

We had a lot of scope to make this report meaningful but we also had some limitations.
When we searched for websites, there was some important information missing and for
lack of time, we could not collect all the required data related to our report. We are sorry
to say that we couldn’t make our report to our expected standard.
The major limitations of this report are:

• We   made   this   survey   on   sales   department   of   premier   bank.   We   had   to   face 

problem to make understand the sales executives.
• We   did   not   get   the   exact   information   of   some   issues   because   of   the   bank’s 
confidentiality. 
 INTRODUCTION OF THE INDUSTRY 
(BANKING)

Banks safeguard money and valuables and provide loans, credit, and payment services, 
such as checking accounts, money orders, and cashier’s checks. Banks also may offer 
investment and insurance products, which they were once prohibited from selling. As a 
variety   of   models   for   cooperation   and   integration   among   finance   industries   have 
emerged, some of the traditional distinctions between banks, insurance companies, and 
securities firms have diminished. In spite of these changes, banks continue to maintain 
and   perform   their   primary   role—accepting   deposits   and   lending   funds   from   these 
deposits.

There are several types of banks, which differ in the number of services they provide and 
the clientele they serve. Although some of the differences between these types of banks 
have lessened as they begin to expand the range of products and services they offer, there 
are still key distinguishing traits. Commercial banks, which dominate this industry, offer 
a full range of services for individuals, businesses, and governments. These banks come 
in  a  wide range of sizes, from large global banks to regional and community  banks. 
Global   banks   are   involved   in   international   lending   and   foreign   currency   trading,   in 
addition to the more typical banking services. Regional banks have numerous branches 
and automated teller machine (ATM) locations throughout a multi­state area that provide 
banking services to individuals. Banks have become more oriented toward marketing and 
sales.   As  a result,  employees  need to  know  about  all  types  of products  and services 
offered by banks. Community banks are based locally and offer more personal attention, 
which   many individuals  and  small  businesses  prefer.  In recent  years, online  banks—
which provide all services entirely over the Internet—have entered the market, with some 
success. However, many traditional banks have also expanded to offer online banking, 
and some formerly Internet­only banks are opting to open branches.

Savings banks and savings and loan associations, sometimes called thrift institutions, are 
the   second   largest   group   of   depository   institutions.   They   were   first   established   as 
community­based institutions  to finance mortgages  for people to buy homes  and still 
cater mostly to the savings and lending needs of individuals.

Credit unions are another kind of depository institution. Most credit unions are formed by 
people with a common bond, such as those who work for the same company or belong to 
the same labor union or church. Members pool their savings and, when they need money, 
they may borrow from the credit union, often at a lower interest rate than that demanded 
by other financial institutions.

Federal Reserve banks are Government agencies that perform many financial services for 
the Government. Their chief responsibilities are to regulate the banking industry and to 
help implement our Nation’s monetary policy so our economy can run more efficiently 
by controlling the Nation’s money supply—the total quantity of money in the country, 
including   cash   and   bank   deposits.   For   example,   during   slower   periods   of   economic 
activity,   the   Federal   Reserve   may   purchase   government   securities   from   commercial 
banks, giving them more money to lend, thus expanding the economy. Federal Reserve 
banks also perform a variety of services for other banks. For example, they may make 
emergency loans to banks that are short of cash, and clear checks that are drawn and paid 
out by different banks.

Interest on loans is the principal source of revenue for most banks, making their various 
lending departments critical to their success. The commercial lending department gives 
loans to companies to start or expand a business or to purchase inventory and capital 
equipment. The consumer lending department handles student loans, credit cards, and 
loans for home improvements, debt consolidation, and automobile purchases. Finally, the 
mortgage lending department loans money to individuals and businesses to purchase real 
estate.

The money to lend comes primarily from deposits in checking and savings accounts, 
certificates   of   deposit,   money   market   accounts,   and   other   deposit   accounts   that 
consumers and businesses set up with the bank. These deposits often earn interest for the 
owner, and accounts that offer checking provides an easy method for making payments 
safely without using cash. Deposits in many banks are insured by the Federal Deposit 
Insurance Corporation, which ensures that depositors will get their money back, up to a 
stated limit, if a bank should fail.

Technology is having a major impact on the banking industry. For example, many routine 
bank services that once required a teller, such as making a withdrawal or deposit, are now 
available through ATMs that allow people to access their accounts 24 hours a day. Also, 
direct deposit allows companies and governments to electronically transfer payments into 
various accounts. Further, debit cards, which may also use as ATM cards, instantaneously 
deduct money from an account when the card is swiped across a machine at a store’s cash 
register.  Electronic  banking by phone or computer  allows  customers  to pay bills  and 
transfer money from one account to another. Through these channels, bank customers can 
also access information such as account balances and statement history. Some banks have 
begun offering online account aggregation, which makes available in one place detailed 
and up­to date information on a customer’s accounts held at various institutions.

Advancements in technology have also led to improvements in the ways in which banks 
process information. Use of check imaging, which allows banks to store photographed 
checks on the computer, is one such example that has been implemented by some banks. 
Other   types   of   technology   have   greatly   impacted   the   lending   side   of   banking.   For 
example, the availability and growing use of credit scoring software allows loans to be 
approved in minutes, rather than days, making lending departments more efficient.
Other fundamental changes are occurring in the industry as banks diversify their services 
to become more competitive. Many banks now offer their customers financial planning 
and   asset   management   services,   as   well   as   brokerage   and   insurance   services,   often 
through a subsidiary or third party. Others are beginning to provide investment banking 
services that help companies and governments raise money through the issuance of stocks 
and bonds, also usually through a subsidiary. As banks respond to deregulation and as 
competition  in  this  sector  grows, the  nature of the  banking  industry will  continue   to 
undergo significant change.

                               COMPANY INFORMATION

(Dutch Bangla Bank)

Company Background:

Dutch-Bangla Bank Limited (the Bank) is a scheduled commercial bank. The Bank was
established under the Bank Companies Act 1991 and incorporated as a public limited
company under the Companies Act 1994 in Bangladesh with the primary objective to
carry on all kinds of banking business in Bangladesh. The Bank is listed with Dhaka
Stock Exchange Limited and Chittagong Stock Exchange Limited.

DBBL- a Bangladesh European private joint venture scheduled commercial bank

commenced formal operation from June 3, 1996. The head office of the Bank is located
at Senakalyan Bhaban (4th floor),195, Motijheel C/A, Dhaka, Bangladesh. The Bank
commenced its banking business with one branch on 4 July 1996.

Current scenario:

Dutch-Bangla Bank Limited has signed a Subordinated Loan agreement of EURO 5.00
million with the Netherlands Finance Development Company (FMO) on 03 December
2007 in a simple ceremony held at the Bank’s Head Office. Mr. Md. Yeasin Ali,
Managing Director of DBBL and W. J. M. Wienk, Director, Mr. A. P. J. de Vette, Senior
Investment Officer of FMO signed the agreement on behalf of the respective
organizations. Among others, Mr. AHM Nazmul Quadir, Additional Managing Director,
Mr. K. S. Tabrez, Deputy Managing Director (Administration), Mr. Ghulam Kabir,
Deputy Managing Director (Operation) and senior executives of DBBL were also present
in the signing ceremony.

Dutch-Bangla Bank Limited has signed the Master Facility Agreement Project
“Investment Promotion & Financing Facility” with implementing agency - Bangladesh
Bank on June12, 2007 at the conference room of Bangladesh Bank Head Office. Mr. Md.
Yeasin Ali, Managing Director of Dutch-Bangla Bank Limited and Mr. Md. Abul
Quasem, the Project Director & Executive Director of Bangladesh Bank signed the
agreement on behalf of the respective organizations. Among others, Deputy Managing
Director (Administration) Mr. K. S. Tabrez, Deputy Managing Director (Operation) Mr.
Ghulam Kabir, Senior Executive Vice President Mr. Muhammed Shahidul Islam of
Dutch-Bangla Bank Limited, Joint Director of Bangladesh Bank Mr. Chowdhury Md.
Feroz Bin Alam and other executives of both the organizations were also present at the
signing ceremony.

Citibank, N.A. Bangladesh embarked on a new initiative to provide retail banking

services of Dutch-Bangla Bank Limited (DBBL) to employees / owners of Citibank
corporate customers in Bangladesh and work together with DBBL for their
comprehensive capacity building and explore further business opportunities together.
Muhammad Shahidul Islam, Senior Executive Vice President and Head of Credit of
Dutch-Bangla Bank and Mahbubur Rahman, Director and Head of Financial Institutions
of Citibank N.A. Bangladesh signed the agreement on behalf of their respective
organizations. Md. Yeasin Ali, Managing Director of DBBL, Mamun Rashid, Managing
Director and Citigroup Country Officer - Bangladesh, A. H. M. Nazmul Quadir,
Additional Managing Director of DBBL, Khondoker Rashed Maqsood, Director and
Head of Global Transaction Services, Citibank N.A. and other senior officials from both
the organizations were present on this occasion. Citigroup seniors including Lyne¢e
Bradley - Vice President, Fixed Income, Citigroup Hong Kong and Richard Martin
Smyth - Managing Director and Head of Portfolio Management, Citigroup South Asia
also remained present at this occasion.

Dutch-Bangla Bank Limited (DBBL) has signed an agreement with Warid Telecom
International Limited, the new entrant in cellular phone providers of the country at
Bank’s Head Office on April 10, 2007. Mr. Md. Yeasin Ali, Managing Director, Mr.
AHM Nazmul Quadir, Additional Managing Director, Mr. K. S. Tabrez, Deputy
Managing Director (Administration), Mr. Ghulam Kabir, Deputy Managing Director
(Operation), Mr. Abul Kashem Md. Shirin, SEVP, & Mr. Muhammad Shahidul Islam,
SEVP of Dutch-Bangla Bank Limited and Mr. Amyn A. Merchant, CFO of Warid
Telecom International Limited and other Senior Executives of both the organizations
were also present on the occasion.

DBBL arranged a syndicated term loan facility of Tk. 900.00 million to Dhaka Telephone
Company Limited. Dr. Fakhruddin Ahmed, Managing Director of PKSF was the Chief
Guest in the agreement signing ceremony. The Managing Directors, representatives of
participating banks and the members of the Board of Directors of Dhaka Telephone
Company Ltd. are seen in the picture

Dutch-Bangla Bank Limited (DBBL) signed an agreement for bill collection with mobile
phone operator Teletalk Bangladesh Limited recently. Mr. A. H. M. Nazmul Quadir,
Additional Managing Director of Dutch-Bangla Bank Limited and Mr. Golam
Fakhruddin A. Chowdhury, General Manager (Finance) of Teletalk Bangladesh Limited
signed the agreement on behalf of their respective organizations. Mr. Abul Kashem Md.
Shirin, Senior Executive Vice President and Head of IT Division, Mr. Md. Omar Faruque
Bhuiyan, Executive Vice President and Head of Card Division of DBBL and Mr. Kabir
Hasan, General Manager, Human Resources, Mr. Aminul Hasan, General Manager,
External Coordination, Mr. Nazmul Haider, Company Secretary of Telatalk Bangladesh
Limited and other Senior Executives of both the organizations were also present on the
occasion.
Dutch-Bangla Bank Limited has signed a Subordinated Loan agreement with the
Netherlands Finance Development Company (FMO) on 30 November 2006 in a simple
ceremony held at the Bank's Head Office. Mr. Md. Yeasin Ali, Managing Director of
DBBL and Mr. Arno. P. J. de Vette, Senior Investment Officer and Andre van Werven,
Manager, Portfolio Management, Asia Department of FMO signed the agreement on
behalf of the respective organizations. Among others, Karin Bouwmeester, Risk
Management Officer of FMO, Mr. AHM Nazmul Quadir, Additional Managing Director,
Mr. Abul Hashem Khan, Deputy Managing Director (Operation), Mr. K. S. Tabrez,
Deputy Managing Director (Administration) and senior executives of DBBL were also
present in the signing ceremony.

Corporate Structure:
• Board of Directors
• Executive Committee
• Managing Director and CEO
• Consultant

Management set up:

The Board consist of 11 (Eleven) Directors. The members of the Board of Directors of the Bank
hold very respectable positions in the society. They are from highly successful group of Business
and Industries in Bangladesh. Out of 11 members one is from Taiwan. Each member of the
Board of Directors plays a significant role in the socio-economic domain of the country. A list of
the Directors and their shareholding along with associated business is given below:

1) Chairman: Dr. H. B. M. Iqbal

2) Vice-Chairman: Mr. B. H. Haroon
 3) Director: Dr, Arifur Rahman, Nurul Amin, Nawrin Iqbal, Mr. Abdus Salam
Murshedy, Mr.Shafiqur Rahaman, Mr Lutfor Rahaman, Mr.Yeh Cheng Min, Mrs.
Shaila Shelly Khan, Md. Masud Zaman.
4) Independent Director: Mr. Abu Hanif Khan
5) Managing Director: Mr. Khondker Fazle Rashid
6) Additional MD: Mr.Mokhlesur Rahman

Senior Executives:

Project Director(IT)

Mr. Ahmad Tabshir Choudhury

Principal(Training Institute)

Mr. Asoke Bandhu Das

Senior Executive Vice President

Mr. Dewan Anwarul Latif

Mr. Md. Abdul Hai

Mr. A K M Fazlul Hoq

Mr. Khan Shahadat Hossain

Mr. Bijit Kumar Bhattacharjee

Executive Vice President

Mr. Md. Khurshed Alam Chowdhury

Mr. Md. Shah Alam
Mr. Kazi Borhan Uddin
Mr. Qazi Abdur Razzaque
Mr. Md. Wahidur Rahman
Mr. Sahdat Hossain
Mr. N H Akhtar-uj-Zaman
Mr. Mohammad Wahedur Rahman
Mr. SM Hemayet Uddin
Mr. Kazi Saiful Hoque
Mr. Sk. Talibur Rahman
Senior Vice President
Mr. Rafiq Ahmed
Mr. Md. Nazimuddin
Mr. Md. Masudul Alam
Mr. Shahed Sekander
Mr. Md. Abul Hasan Mia
Mr. Shafiuddin Ahmed
Mr. Mohammed Salim Chowdhury
Mr. Shamsuddin Chowdhury
Mr. Nasir Uddin Sikder

Vice President

Mr. Golam Mahmud Jamil

Mr. Quazi Mahbub-E-Alam
Mr. Md. Munibur Rahman
Mr. Syed Nowsher Ali
Mr. Md. Shariful Islam
Mr. Ahamed Sufi

First Vice President

Mr. Md. Nur Sobhan

Mr. Md. Shahjahan
Mr. Md. Hasanul Hossain
Mr. Moinuddin Ahmed
Mr. M H Mawdud Hussain
Mr. Mohammad Zakir Hossain
Mrs. Quamrun Nahar Hasmi
Mr. Md. Shahid Hassan Mallik
Mr. Shiper Ahmed
Mr. Syed Ahasan Habib
Mr. Zalal Uddin Chowdhury
Assistant Vice President

Mr. Md. Shahid Ullah Bhuiyan

Mr. Mohammad Abdul Karim
Mr. Pervez Reza
Mr. Ashraful Azad
Mr. Md. Mahabub Morshed
Mr. Md. Anowar Hossain
Mr. Md. Ashraf Hossain
Mr. Mohammad Saifuzzaman
Mr. Tridib Kumar Barua
Mr. Shawkatur Rahman
Mr. Md. Akhterruzzaman
Mr. Md. Rafiqul Islam Khan
Mr. Chowdhury Yousuf Haroon
Mr. Mohammed Ratan Miah
Mr. A M Omar Khasru
Mr. Md. Abdul Baten Chowdhury
Mr. Md Mizanur Rahman
Mr. Atikul Islam Akhand
First Assistant Vice President

Mr. Md. Aminur Rahman Chowdhury

Mr. Md. Humayun Kabir Talukder
Mr. Mohammed Abu Hena
Mr. S M Quamruzzaman
Mr. Md. Kamrul Islam
Mrs. Humayra Chinu
Mr. Mohammad Anas
Mr. Md. Taiab Ali Khan
Mr. Syed Sultan Uddin
Mr. Mohammad Zakir Hossain Bhuiya
Mr. Md. Rafiqul Islam
Mr. Muhammad Shawkat Alam
Mr. Alamgir Kabir
Mr. Kazi Abdul Wadood

Mr. M Zahed Chowdhury

Ms. Farzana Bushra
Mr. Ezaz Wahid
Mr. Md. Nowshad Ali
Mr.Md. Abdul Latif
Mr. Md. Aminul Haque
Mr. Mohd. Didarul Alam
Mr. Moshfeque Alam Khan
Mr. Shamim Akther
Mr. Md. Mashhurul Haq
Mr. AKM Ekhlasur Rahman
Mr. Emdad Haider
Mr. S M Masudur Rahman
Mr. Md. Shafiqul Islam
Mr. Mohammad Ibrahim Hossain
Mr. Imran Sadique
Mr. Md. Wahidul Islam
Mr. Khaled Afzal Rahim
Mr. Shaikh Mohammed Shoieb
Mr. Mohammad Abu Kausar

Mission:

To be the most caring and customer friendly provider of financial services, creating opportunities
for more people in more places.

To ensure stability and sound growth whilst enhancing the value of shareholders investments.
To aggressively adopt technology at all levels of operations to improve efficiency and reduce cost
per transaction.

To ensure a high level of transparency and ethical standards in all business transacted by the
Bank.

To provide congenial atmosphere which will attract competent work force who will be proud and
eager to work for the Bank.

To be socially responsible and strive to uplift the quality of life by making effective contribution to
national development.

Vision:

Vision of the Bank

The Bank has clear vision towards its ultimate destiny - to be the best amongst the top financial
institutions.

Core Objective:

Premier Bank believes in its uncompromising commitment to fulfill its customer needs
and satisfaction and to become their first choice in banking. Taking cue from its pool
esteemed clientele, Premier Bank intends to pave the way for a new era in banking that
upholds and epitomizes its vaunted marques "Service first".

MARKETING MIX:
In case service there are 7Ps which make an organizational marketing background. Those
Ps are:

• Product & Services

• Price
• Place
• Promotion
• Physical evidence
• People
• Packaging

Product:

Incase of product the Premier Bank Ltd have different kinds of products based on the
situation and the consumers. As it is a service provider it has some physical quo to offer
their products. Those physical quo are in form of card through which a customer can get
different kind of loan and purchasing service.
Those card products are given below:
1) Visa Credit Card
2) Deposits
3) Loan & advances

With out these card products there are many intangible facilities that the Premier Bank
also provides like personal loan, security with interest, information of currency,
transaction in local and foreign area etc.

On the other hand Premier Bank also provide organizational to organizational services.
These services also considered as products. Those services are
 • Loan
• Bill payment
• Security
• LC
• Time to time transaction
• Employee’s salaries payment
• On line banking

The most resent and burning example of service are given below:

Loan Products :

Project Loan
Working Capital Loan
Trade Finance (Domestic & International)
House Building Finance (Commercial & Residential)
Contractors Financing
Receivable Financing
Cash Credit
Over Draft
Packing Credit
Trust Receipt
Guarantee
Letters Of Credit

More details about Rate of Interest Chart of Various LoanProducts

Our Special Credit Schemes:

Lease Finance
Consumer Credit Scheme
Doctors Loan Scheme
Small & Medium Business Loan Scheme
Student Credit Scheme
Rural Credit Scheme - Poverty Alleviation
Agro Processing Loan Scheme
 Deposits :

Savings Account
Current Account
Corporate Account
Short Term Deposit Account
Fixed Deposit
Double Benefit Scheme
Monthly Income Scheme
Finally the critical
Monthly Savings Scheme segments of products are
Education Savings Scheme
given below:

Import Finance

DBBL extends finance to the importers in the form of:

1. Opening of Import L/C

2. Credit against Trust Receipt for retirement of import bills.
3. Short term & medium term loans for installation of imported machineries &
production thereof.
4. Payment against document

Export Finance

1. Pre-Shipment Finance

Pre-Shipment finance in the form of:

I) Opening of Back-to-Back L/C
II) Export Cash Credit

2. Post-Shipment Finance
Post-Shipment finance in the form of:
I) Foreign/Local Documentary Bills Purchase
II) Export Credit Guarantee
III) Finance against cash incentive

Foreign Remittance

Premier Bank provides premium quality service for repatriation and collection of
remittance with the help of its first class correspondents and trained personnel. By
introducing on-line banking service and becoming a SWIFT Alliance Access Member,
which enable its branches to send and receive payment instruction directly that helps
provide premium services.

Services

Premier Bank provides all the accounts services as prescribed by the guidelines of
Central Bank (Bangladesh Bank). We offer competitive interest rate and provide
premium quality services for the accounts. Account services are:

Premier SMS(SMS Banking Service)

To get the SMS service:

Premier SMS service is totally free for our customers. After registration the password/PIN will
 be sent to your mobile number. Send SMS using PIN to Mobile No. 01714047799 for Premier
SMS.

Just visit any of our branch or download the application form (at the Leaflet Page -2) and get
registered providing the following information.

1) Account Name 2) Mobile number 3) A/C number -15 Digits (including branch code and
check digit)

Available Services:

Inquiry - Account Balance - Last 3 Transactions - Cheque Leaf Status

Request - Statement to be picked up from branch - Statement through email - Statement by

post/courier - Cheque Book request - Stop payment request

Notifications - Balance Alert (If the balance crosses certain limit) - Transaction Alert -
Special day message fixed by Premier Bank

Online Banking

Online any Branch Banking

We have set up Wide Area Network using Radio, Fibre-Optics & other available
communication systems to provide any branch banking to our customers.

Customer of one branch is now able to deposit and withdraw money at any of our
branches. All Branches are included in our Wide Area Network.

No TT/DD or cash carrying will be necessary.

Islamic Banking

In order to serve those Customers who neither Receive or Pay Interest, we have
decided to open separate branches based on SHARIAH PRINCIPLES. The activities &
book keeping will be kept separate from the Conventional Branch Operations.

Islamic Banking service is now available at MOHAKHALI BRANCH and SYLHET

BRANCH. These two branches are run under Islamic Shariah Principles. Chairman of
Islami Bank Limited, former secretary of Government of Bangladesh and former
Deputy Governor of Bangladesh Bank - Mr. Shah Abdul Hannan is also the chairman
of Islamic Shariah Council of Premier Bank. The council also consists of renowned
Islamic scholars like Dr. A.R.M. Ali Haider, Professor of Department of Islamic
Studies, University of Dhaka, Moulana Ruhul Amin Khan, Executive Director of the
Daily Inqilab and others who determine the guiding principles for operation of our
Islamic Branches.

Our investment and deposit figure for these two Islamic branches in the year 2003
was Tk. 3,09,87,403/- and tk. 14,03,91,549/-

Our Other Services :

Safe Custody (Locker)

For safekeeping of customers' valuables like important documents and goods like jewelries and
gold ornaments, Premier Locker Service is available in most of the Branches in urban areas.

Nature of Service Nature of Charges Rate of Charges

Custody of Locker / Safe Rent a) Yearly TK.1,500/= for small size locker
b) Yearly TK.2,500/= for medium size locker
c) Yearly TK.3,000/= for big size locker

*Condition apply TK.2500/= for Security Money(Refundable)

Evening Banking Services

"Evening Banking", a unique service of The Premier Bank, only for receiving Cash and
Documents beyond transaction hours till 8 o'clock in the evening, is available at Premier Bank.
The service is attractive for those, like shopkeepers, who accumulate cash as sales proceeds in
the afternoon when counters of Bank branches usually remain closed.

Online Branch Banking Service

ONLINE BRANCH BANKING SERVICE is designed to serve its valued clients. Under this
system, you shall be able to do the following type of transactions:

Cash withdrawal from your account at any branch of the Bank.

Deposit in your account at any Branch of the Bank.
Transfer of money from your account to any other account with any Branch of the Bank.

Transaction Limit
Unlimited transaction.

Online Transaction Membership Fee

No Membership fee is required.

Charges for Online Transaction

No charges for online transaction except inter zonal transactions.

Travelers Cheque
Travellers Cheque

Under Constrution page...

Upcoming Services:

ATM
Banking Software
Tele Banking, Internet Banking

SWIFT

Premier Bank Limited is one of the first few Bangladeshi Banks who have become
member of SWIFT (Society for Worldwide Inter-bank Financial Telecommunication) in 2002.
SWIFT is members owned co-operative, which provides a fast and accurate communication
network for financial transactions such as Letters of Credit, Fund transfer etc. By becoming a
member of SWIFT, the bank has opened up possibilities for uninterrupted connectivity with over
5,700 user institutions in 150 countries around the world.

Price:

In case there some variability in the factors of price. In case of price the variability
depends on the service of the organization. In case of card products the price is given
below:
Premier Bank Visa Credit Card

No joining Fee
Auto Debit Payment
Cash Advance Facility
Zero Cost Liability
Free Credit up to 45 days
Photo Card Options
Worldwide Acceptance

The Premier Bank offers lowest fee and interest rate in the market for everyone.

It's Everywhere you want to be..

You can rely on The Premier Bank VISA Card and practical support 24 hours a day
worldwide. Leaving you free to enjoy shopping, traveling and much more..
Fees and Charges

CLASSIC GOLD
Annual Fee
Local Tk. 1,000 Tk. 1,800
International USD 40 USD 80
Supplementary Card Fee
Local Free Free
Replacement Card Fee
Local Tk. 300 Tk. 500
International USD 15 USD 15
Late Payment fee
Local Tk. 200 Tk. 300
International USD 10 USD 10
Cheque Return Fee
Local Tk. 250 Tk. 350
International USD 10 USD 10
Statement Retrieval Fee
Local Tk. 50 Tk. 50
International USD 5 USD 5
Charge Slip Retrieval Fee
Local Tk. 200 Tk. 250
International USD 10 USD 10
Outstation Cheque Collection Fee
Local Tk. 100 Tk. 100
International USD 15 USD 15
PIN Replacement Fee
Local Tk. 500 Tk. 500
International USD 10 USD 10
Excess Limit Fee
Local Tk. 200 Tk. 300
International USD 10 USD 15
Cash Advance Fee
Local 2% or TK. 150(higher)
International 3% of withdrawal amnt.
Interest Charge(Per Month)
Local 2.5% 2.5%
International 2.5% 2.5%
Place:

At present Premier Bank have 27 branches and 8 proposed branches. There are different
places in different country. They have brunches in Agrabad(ctj),Ashugonj,Dhaka branch(
Banani, bangsal, Dhanmondi, Dilkusha, Elephant road, Gukshan, Imamgonj Joydebpur
Kawran bazaar kakrail Mohakhali, Motijheel, Savar, Uttara ,Tongi ), Khayungonj(ctj)
Khulna ,Barisal branch, Kishoregonj, Khulna , Moulvi Bazar(Sylhet), Narayangonj
Branch.
They have 228 offices including the ATM booth among these locations.

Promotion:

The promotions of Premier Bank are based on the corporate social responsibilities (CSR).
They use different marketing communication tools for promotion the consumers. On the
other hand they do some time the personal marketing in case of promoting the
organizational to organizational promotions. They use the TVC ads, printed ads, bill
boards, personal communication and specially the CSR.
Some CSR promotions are given below:

Activities of premier Bank

1) Launching of real time online banking in all branches of Premier Bank
2) Launching of Corporate web site
3) Launching of Dealing Room for foreign Currency and Money Market Dealing
4) Launching of separate Leasing Division
5) Launching of Islamic Banking in Mohakhali (Dhaka) and Sylhet branch
6) Launching of Doctor's Loan Scheme for Medical Practitioners and Doctors
7) Participated in First "Medexpo" trade fair of Medical equipment and services in
Bangladesh
8) Inauguration of Premier Bank's own Training Institute
9) Inauguration of 5 (five) more branches around the country
10) Obtained Principal Membership License from VISA International for VISA Credit
Card

Sponsored TVS Cup (A Triangular Series of Cricket Match between India,

South Africa and Bangladesh) and Nitol-Tata National Football League
2003-2004

People
They are the employees of the bank.

Packaging
The way of service delivery should be given. How different service is offered to the
customers.
 DESIGN OF THE SALES FORCE

Objective set by the department:

There is a specific sales department in Premier Bank which deals with different sales 
related issues of the bank. 
The following particular objectives which are set by the department—
• Marketing of the products through services.
• Attracting benefits on the products.
• Approaching, presenting, answering, answering objectives and closing sales.
• Providing various services to the customers like­consulting on problems, technical 
assistance, expanding delivery etc.

Prospecting:  The sales force should search for prospects of different offers which are 
different market segments. Market segmentation can be done based on culture, value, 
religion, income etc. 
Targeting: Sales force will allocate their time among prospects and customers based on 
priority of the potentiality of purchasing the sales offer or previous transaction pattern.
Communicating:  Sales force should successfully communicate with the prospects and 
customers   and   time   to   time   provide   them   up   dated   information   about   the   company 
services.
Selling: They need to approach the prospect, make a presentation about the products, and 
answer all the objectives with an ultimate target of selling the product and successfully 
closing the sales.
Servicing: To maintain a good relationship with the customers and ensure future sales, 
sales force should consult with them time to time and help them with their problems.
    
Structure of sales force:
Sales   force   structure   depends   basically   on   the   company   sales   objective,   resources, 
condition of the market and economy. As all the services provided by a company follows 
some   basic   structure   and   rules,   a   sales   person   can   easily   gain   knowledge   about   the 
services. To cover the whole country companies need large sales force which is easy to 
maintain on a territorial basis.
Since   it   is   a   banking   service,   the   company   is   producing   too   many   services   and   the 
customer varied in nature. This is why Premier Bank formulates the sales force based on 
the product/service. On the other hand it has 35 branches over Bangladesh and that’s why 
it also has the territorial based sales force structure. 

Duties and responsibilities of the concerned people:

Duties   and   responsibilities   are   allocated   to   the   concerned   people   based   on  following 
issues­­­
• Usually they do variation to select people for different job. Different people are 
set   for   different   case   over   time.   Jobs   are   allocated   basically   on   group   basis, 
sometimes­Individual basis.
• A subordinate has to make report to divisional head and divisional head to the 
management within specific period of time.
 • As per planning’s on case­to­case basis, people coordinates with each other.
• Group basis evaluation done by the division and divisional sales force’s evolution 
is done by management level.
• Decision   takes   according   to   the   need   of   the   bank,   sometimes   downstream   as 
decision and sometimes up­stream as suggestion.
• Sometimes based on the market scenario, top level managers make decision.

Main responsibility of the sales force is to accomplish the sales force objectives. To do so 
they need to perform following duties:
• They identify the prospect
• They perform per­approach activities and then approach the prospect
• They find out the facts about buying the product
• They defend various objections of the clients and provide them solutions in times 
of presentation. 
• Time to time they meet the customers for follow­up and provides them 
information about the new products and benefits.
• Sometimes they may collect information about the customers which will help the
company for better decision making.

Minimum qualification required of sales force:
No employee is appointed particularly or solely as member of sales force. Recruitment 
should be made as per general recruitment of the bank.
Since   it   is   a   banking   service   and   it   needs   different   people   for   different   jobs   so,   the 
qualifications of an employee of sales force should be published when the vacancy for 
job is circulated.  But sales people has to have the following ability to
 Make people a key priority
  Win customers for life
 Use the total management approach to run the business
 Profitable grow by being the leader in customer –led application of technology.
 Rapidly & profitably globalize
 Be the best service supplier.

Size of the sales force:

All the banks in Bangladesh are serving the whole country. They have specially designed 
offers for rural and urban customers. The calculation should be generally by “workload 
method”.

Strategy:

Premier  Bank  follows basically team selling (sometimes) and outside and inside sales 

force strategy. Since it is a Bank, sales strategy should be formulated basing basically on 
the:

• Economic scenario of the country
• Growth rate of national savings
• Inflation
• Investment trend
• Banks liquidity
• Asset position
• Forecasted market condition on the above joints
• Market oriented result is also given priority.
MANAGEMENT OF THE SALES FORCE

Recruitment and selection procedure: 
Personnel selection is a process of measurement, decision­making & evaluation. The goal 
of   a   personnel   selection   system   is   to   bring   into   an   organization   individual   who   will 
perform   well   on   the   job.  To   recruit   and   select   best   candidate   for   the   sales   force   of 
banking industry is very important. The personnel should be highly skilled to. The most 
effective way of selecting the right candidate is through job analysis. Premier Bank may 
obtain   information   about  the   selling   jobs   with  the   help  of  job   analysis.  They   should 
identify the kind of manpower needed to perform the jobs and make plan for the existing 
and future manpower. In this plan they will specifically define job description Duty and 
responsibility of insurance agents) and job specification (qualification, knowledge, skills 
and   experience   required   to   perform   the   job)   for   the   sales   force   with   qualitative 
description and quantitative measures. According to the standard of job analysis they will 
recruit people and then select them through various screening process
 Standard process of selection (Premier Bank) should be: 
Application → preliminary interview (face to face/written) → application blank (personal  
information) → employee test→ interview → questioning of previous history → waiting 
list → final selection → medical exam → get job.

Training:
A process whereby people acquire capabilities to aid in the achievement of organizational
goals and the process of teaching new employees the basic skills they need to perform
their job. There is no alternative to rise up in life without education and Training.
Educational qualification is an indispensable part of a person engaged in any profession.
One must have sufficient knowledge on the works he has to do. It accelerates his
prosperity if he deserves his ability through achieving proper education and training.
In Premier Bank Training should be given through workshop, training courses both in­
house and outsourcing and on­the job. 
 On­the –job Training­ It is conducted at the work site. The training shows the 
employee  how to perform the job and allows  him to do it under the trainer’s 
supervision.

Supervision:
Supervision is done to observe the accuracy of performing the duties and responsibilities 
of the sales force. In times of training sales force in supervised to learn the whole thing 
perfectly and increase their skills. Supervision is also done to identify the personnel who 
need further training and also the best performers.
In case of Premier Bank, after training session, supervision/ monitoring activities should 
be done by the on­going process of allocated job and its output/outcome/feedback from 
the market etc. After the training they should be supervised by superior personnel to 
monitor if they have changed their way of doing jobs and performing better.

Motivation and compensating:
The motivation and compensation philosophy of Premier Bank is “Banking profession is 
a   career   job   that   highly   demands   sales   and   marketing   skills   at   all   levels   and   desks. 
Successful   person   take   the   lead   of   per   group   in   promotion,   letter   working   table   and 
places.”
Mercantile Bank follows two main components of compensation system—
• Direct financial payments
• Indirect payment
And they give priority on seniority, merit and skill of employees.
Sales force of banking industry performs a stressful job with a large target of sale. So it is 
important to motivate them time to time. But as the sales force is very large it is not an 
easy task to motivate them all. To motivate the sales force Premier Bank can take the 
following steps:
• Monetary factors: They can provide monetary reward to the agents.
• Recognition: They can give recognition to the best agents.
• Reward: They can give some other rewards than money.
• Work environment: It is not easy to provide good working environment to the 
field agents. Still they can assign their agents to the prospects with whom they 
would feel comfortable with.
• Work itself: They can make the work more interesting by reducing paper work 
and using colorful materials.
The most appropriate structure would be­ 
Fixed amount (salary) +Variable amount (bonus, commission) +Expense allowance 
(traveling, lodging, dining) +benefits (sickness allowance, insurance)

Controlling and evaluation of sales force: 
The divisional head of the company does evaluation of the employee. For the whole 
Organization, the following people contribute in evaluation process—
• The immediate supervisor 
• Peer appraisal
• Rating committees
• Self ratings
• Appraisal by subordinates
For this reason they basically follow 360­degree feedback method where ratings are 
collected from supervisors, subordinates, peers, internal­external customer. 
It may divide its activities on the basis of Division, Zone, Branch, Region, District, and 
Thana to have better control and evaluation of the sales force.

Role of salesmanship and sales management:

The success of any team depends on the total teamwork. A marketing officer shall serve 
as the primary relationship contact with the Bank’s corporate and commercial customers. 
He will keep contact with the investment clients, Guarantors, collect information, assess 
client’ position and process the proposals for approval of competent authority. The major 
responsibilities will be:
• To act as the primary bank contact with the consumers and grow the consumer 
base through marketing effort.
• Marketing officer shall scrutinize the investment application from and other 
documents submitted by the customers and make preliminary assessment.
• Marketing Officer will collect further necessary information to make the 
proposal complete.
• To carry out investment analysis, assess investment of the customer, structure 
investment facilities and identify potential investment risk, mitigation factors.
• To coordinate with investment that includes documentation officer, 
disbursement officer, custodian officer, monitoring officer, compliance officer 
and recovery officer.
• To study market and competitive position on an on going process.

Maintenance of relationship ­­­ internal and external:
• Primarily, through centrally concerned meetings will be called twice a month. 
 • Then comes the need based consultation between the other divisions with sales 
division. 
• Innovation of products, their approval and planning of sales will be concerned on 
those meetings. 
• More   importantly,   through   interpersonal   interaction   relation   should   be 
maintained.

Internal Relationship
Following   steps   may   be   taken   for   implementation   for   maintaining   relationship 
effectively: 
 A   strong   internal   control   &   compliance   division 
should be formed with a view to establish compliance culture and full 
control. 

 Regular   review   of   internal   and   external   (including 

Bangladesh Bank) audit reports with a view to implement the suggestion 
of internal and external auditors (including Bangladesh Bank), in respect 
of internal control techniques. 

 To   establish   an   effective   management   system   that 

includes planning, organizing and supervising culture in the branches as 
well as at head office. 

 Continuous monitoring and evaluation on application 
of internal control system, internal audit policy, policy for financial risks, 
existing   rules   and   regulations   (internal   and   external),   other   obligations 
from controlling authority, disclosure process of the bank. 

 Review the accounting procedures with the view to 
ascertain that International Financing Reporting Standards (IFRSs) have 
been applied in preparation and presentation of financial statements. 

 Formulation   of   HRM   policy   and   other   operating 

procedures. 

External Relationship
Relationship with the Auditors
The Board should establish transparent and appropriate relationships with its external
auditors through the Audit Committee. The external auditors may have an obligation to
bring any significant lapses/irregularities in the Bank’s system of internal control and
compliance to the attention of management, Audit Committee and the Board.
Relationship with the Shareholders and Investors
The Board recognizes the importance of timely and proper dissemination of information
with regard to the Bank’s performance and other issues affecting the interests to the
shareholders, investors and the general public.
One of the most important means of communication to the Shareholders is through the
Annual Report, which contains comprehensive and sufficient details about the financial
results, performance and other important activities of the Bank.
The Annual General Meeting (AGM) is the principal forum in which Shareholders are
informed of the total affairs and current development of the Bank. Shareholders are
invited to ask questions during the question and answer session prior to the motion
moved for approval of a particular resolution. In addition, the Bank from time to time
should make various announcements on price sensitive information and other disclosures
through Newspaper, website and media to the Shareholders, Securities and Exchange
Commission (SEC), Stock Exchanges and general public so that the Shareholders and
general public will have reasonable access to the material information about the Bank.

Sales forecasting:
Sales forecasting method should be based on
• Economic trend of the past 2/3 years of the country
• Global trend of past 2/3 year affecting country trend
• Prevailing or existing rates on various products on going market demand
• Cost of rates and products etc.

Market potential:
Market potential (maximum possible sales opportunities present in a particular market 
segment for the whole banking industry)
­­­­­­­­­­­­­­­­Through out the entire country. 

Sales potential:
Sales   potential   (maximum   possible   sales   opportunities   present   in   a   particular   market 
segment for the bank)
• Branch location places and beyond.

Sales budget:
There should be a specific sales budget for the sales department. The budget should be 
based on the situation and objective of the company.

CONCLUSION

Sales force plays a very critical part in such competitive business like banking, because 
for banking industry which is very much competitive in today’s business world,  the only 
way of attracting customers is continuous communication. To make the communication 
effective, sales force of insurance industry has robe designed and managed very carefully. 
It is far from certain that the attempt to improve the efficiency of the banking system has 
improved as a result of a decade of externally imposed financial sector reforms. Banks 
should not only give them a sense of security that their funds are not misappropriated but 
that they use these funds both efficiently and justly. Efficiency here means that funds 
should go to those who service their loans and use credit productively to provide good 
and services. Justice means that credit is available to all classes of the population, who 
are   now   already   inducted   into   the   formal   banking   system.   Provided   that   this   wider 
constituency   of   bank   clients   establish   their   credit   worthiness   and   demonstrate   the 
productive use of their loans, they should enjoy democratic access to bank loans.
We all knew the role of banking industry in our lives. But we may have never noticed the 
people between us and the banks before working on this report. These people are the 
sales force of banking industry and make the bridge between customers and companies 
with   their   knowledge,   skills   and   ability.   Without   of   their   effort   banks   could   not   be 
succeeding to attract the customers and the customers could not get their services. So, to 
make a win­ win situation between these two parties, the sales force of insurance industry 
has to be well designed and managed properly, which is not easy at all. 

                             BIBLIOGRAPHY

  http://www.cpd­bangladesh.org 
  www.google.com 
  www.bangladeshbank.org 
  www.primier bank.com.org