Académique Documents
Professionnel Documents
Culture Documents
ON
Silk Bank Limited
Ramsha-Tauqeer (BBA hon’s)
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TABLE OF CONTENTS
Dedication
…………………………………………………………….4
Acknowledgement
……………………………………………….……………5
Internship certificate
……..…………………………………………………....…6
Executive summary
……………..……………………………………………….7
Objective of studying the organization
……………………………...………...…………………8-25
Overview of the organization
Brief history
Nature of the organization
Business volume
Main office
Competitors
Bank accounts detail
…….………………………………………………………25-32
Organizational structure
Board of directors
Human resource department
Marketing department
Technical services
………..…………………………………………..………32-41
Structure of the finance department
Use of electronic data in decision making
Function of finance department
Finance and administration department
Financial statement
…………………………………………………………….42
Learning as an internee
…..……………………………………………………43-46
Future prospectus of the organization
Short fall/weakness of the organization
suggestions
……………………………………………………………47-51
swot analysis
……………………………………….…………………52-55
Organization Hierarchy
Strengths
Weakness
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Opportunities
threats
…..………………………………………………………60-70
pest analysis
political analysis
sociological analysis
economical analysis
technological analysis
………………………………………....…………71
conclusion
……. ………………….…………………………………72-74
suggestions and recommendations
. …………………………..……………………………75
reference
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DEDICATED
To My Beloved Parents
To
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MESSAGEOFTHE MUHAMMAD ALI JINNAH
“We must work our destiny in our own way and present to the world an
economic system based on true Islamic concept of equality of manhood
and social justice. We will thereby be fulfilling our mission as Muslims
and giving to humanity the message of peace which alone can save it
and secure the welfare, happiness and prosperity of mankind”.
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ACKNOWLEDGEMENT
All praise to ALMIGHTY ALLAH alone, the Omnipresent and the most
Merciful and compassionate. The words are bound, knowledge is
limited and time is short to express His dignity. It is one of infinite
blessings of ALLAH that he bestowed me with the potential and ability
to contribution towards the deep oceans of knowledge already existing.
I pay hum-age to greatest personality of the universe; HOLY PROPHET
HAZARAT MUHAMMAD (PBUH) who is forever torch bearer and
spring of guidance in every sphere of life. I am deeply indebted and also
express my gratitude to my respected teachers for their support.
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Executive Summary
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Objectives of studying the organization
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OVERVIEW OF THE ORGANIZATION
BRIEF HISTORY:
VISION:
Benchmark of Excellence in premier banking.
MISSION:
To be the leader in premier banking trusted by customers for
accessibility, service & innovation; be an employer of choice creating
value for all stakeholder.
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CORE VALUES
COUSTOMER FOCUS:
At silk Bank the customer remains at the core of all activities Service
Quality is our key differentiator.
INTEGRITY:
At silk bank we are honest and upfront maintaining the highest levels
of personal and corporate integrity.
TEAMWORK:
Teamwork is our key strength. Our success in unity.
CREATIVITY:
Out-of-the box thinking is the enabling factor for us to be recognized
as an innovative organization.
MERITOCRACY:
Merit remains our key primary criteria for rewarding
HUMILITY:
Humility remains at the core of all our relationships.
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NATURE OF THE ORGANIZATION
Silk Bank is a Banking Company, which is engaged in Commercial &
Retail Banking and related services domestically
The Group's principal activities are to provide commercial banking and
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BUSINESSVOLUME
Description
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MAIN OFFICES
RIGESTERED OFFICE
Silkbank Limited
Islamabad.
Email: companysecretary@silkbank.com.pk
Website: www.silkbank
SHARE RISGTRAR
Central Depository Company of Pakistan Limited (CDCPL)
Karachi-74400.
Fax: +92-21-34326053
Email: info@cdcpak.com
Website: www.cdcpakistan.com
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COMPITITORS
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ACCOUNT DETAILS
1) CURRENT ACCOUNTS:
ALL-IN-ONE-ACCOUNT
Silk bank All-in-One Account provides you with the ultimate security
and protection, amazing banking facilities and much more convenience.
All absolutely free.
As a Silk bank All-in-One Account Holder, you will be provided with a
host of free protection & transactional benefits. The various protection
benefits offered include the following:
Not only that, as a customer you are also entitled to a host of free banking
facilities including cheque books, pay orders, intercity transactions and
your very own Silkbank VISA Debit Card which provides exclusive
discounts at over 100 partner outlets nationwide.
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own Silkbank VISA Debit Card which provides exclusive discounts at
over 100 partner outlets nationwide, in addition to free statements, SMS
Alerts and Silkbank-Direct Internet Banking.
No more hustling and bustling to your branch, with the Online Express
Account you can conveniently get services from ANY Silkbank branch
and enjoy Unlimited Transactions across the nation, absolutely
FREE!
With On-line Express Account you can access your account from any of
the Silkbank branches and enjoy a real time banking experience. Based
on your balance, On-line Express Account enables you to enjoy
unlimited transactions absolutely free!
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SALARY PREMIUM ACCOUNT:
Silkbank’s Salary Premium Account is an exceptional current account
that offers additional perks with your salary!
As a Silkbank Salary Premium Account Holder, you can avail a host of
financial convenience, protection and lifestyle benefits.
3) SAVING ACCOUNT:
PLS SAVINGS:
Through your Silkbank Savings PLS account, you can now avail the
benefits of a Savings Account with the convenience of a Current
Account.
Highest returns
VISA Debit Card
Higher the deposit, higher the returns
Profit calculated on Daily Product Basis
Can be operated by individuals or companies
Profit is payable monthly
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TERM DEPOSITS
SALANA MUNAFA:
With the Salana Munafa Term Deposit Account, you can earn the
highest profit with payout on maturity. Additional benefits include:
With the Silkbank Mahana Munafa Term Deposit Account, you can earn
the highest profit with monthly payout. Additional benefits include:
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INSURANCE
MEHFOOZ HAR PAL:
ROSHAN MUSTAQIL:
With rising health care costs, sickness may not only lead to mental
distress for the whole family but could also adversely affect finances for
a long time to come. The implications become even more severe if the
illness results in prolonged hospitalization.
SUNEHRA KAL:
With Sunehra Kal you can now turn all your dreams into reality by
responding timely to the changing circumstances and achieving your
goals like buying a new car, a beautiful home and contentment of your
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family, financial security, funds for child’s marriage and of course a
comfortable retirement.
In fact, there are certain illnesses and accidental injuries that are not only
long lasting, painful and life threatening but have an expensive
treatment, causing a mental and financial distress to the entire family.
Silk Health Line is an easy-to-use, economical yet a precious plan that
ensures comprehensive healthcare to the entire family.
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SILK RETIRMENT PLAN:
REMITTANCE
Remitting funds to your loved ones in an instant was never this easy.
Silk Fauree Transfer is a remittance service, which enables you to
receive your funds instantly and that too absolutely free from anywhere
outside Pakistan. Send money through any of our Authorized
Correspondent Banks, Money Transfer Companies or Exchange
Companies from around the world.
1) Fauree Cash
Receive cash up to Rs. 500,000 for instant collection from any of our 85
Silkbank branches spread across 32 cities in Pakistan.
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REQUIRMENTS:
Remittance ID Number and original CNIC of the beneficiary
Valid mobile number of the beneficiary for SMS Alerts
2) Fauree Credit
REQUIRMENTS:
3) Fauree Transfer
Even if you are not a Silkbank Account Holder, your funds can be
credited to your account maintained with any other bank in Pakistan
through IBFT or RTGS module on the same day.
REQUIRMENTS:
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WESTERN UNION:
Send your remittances to your loved ones in Pakistan from any corner
of the world through Western Union. The payment can be collected
instantly from any of the Silkbank branches.
LOANS
CONSUMER
PERSONAL LOAN:
Silkbank offers the best Personal Loan for all your needs. Now you can
apply for a fresh loan of up to Rs. 2 million. Not only this, but you can
also transfer your outstanding loans from other banks and avail a range
of benefits while enjoying the same monthly installment or even less.
With Silkbank Personal Loan, you can live up your dreams and enjoy
life to the fullest. It is fast, convenient, flexible and affordable.
READY LINE:
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We believe that time is money, and therefore carry out fast processing
of your application once you apply. So apply now and avail an instant
credit line without the need for any collateral.
You can use Ready Line the way you want with complete peace of mind
b. Repay expensive debts like Credit Cards payments or any other type
of personal loans
OTHER SERVICES
DIRECT INTERNET BANKING:
Welcome to the world of Silkbank-Direct Internet Banking. Click &
Bank at your convenience in the most secure and simple way. With
Silkbank Internet Banking service you can access and manage your
accounts anywhere, anytime.
Now your bank is just a click away.
Balance Inquiry
Mini Statements
Transaction Details
Low Balance Alerts
Account Statement Requests
Fund Transfers
Pay Order/Demand Draft Requests
Cheque Book Requests
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E-SATAMENTS:
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SMS ALERTS:
Silkbank SMS Alerts Offer our customers the ability to stay informed
around the clock, anywhere, any time.
Once enrolled for SMS Alerts, you will receive alerts on the transaction
amount you select, from the following set of options:
BANKING TRANSACTIONS:
All Transactions
Transactions of Rs.50,000 & above
Transactions of Rs.250,000 & above
INTERNET/ATM TRANSACTION:
All Transactions
Transactions of Rs.10,000 & above
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CUSTOMERS CAN:
SILK MOBILE:
Balance Inquiry
Funds Transfer
Bills Payments
Mobile Top-Ups
Mini Statements
Pay Order Requests
Deals and Discount
Product Information
CORPORATE BANKING:
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INVESTMENT BANKING:
Arrangement Services:
TREASURY SERVICES
SILKBANK TREASURY:
In an exceedingly dynamic an exceedingly dynamic and volatile
economic environment Silkbank treasury has evolved as an active player
in the Financial Markets. Here at Silkbank, we nurture a culture of
enhancing the return on investments with complete focus on customer
needs for their financial solutions. The Treasury seeks to do this by
becoming the Risk solutions provider, offering quality treasury products
and being the leader in product innovation.
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recommendations which are consistently changing with the market
conditions to its individuals and corporate clients. Fixed Income Sales
Desk also provides timely views on interest rates and economic
conditions enabling the clients’ to make prudent investment decisions.
We also provide an IPS Account Facility to both corporate and
individual clients. The Desk establishes a dedicated corporate
relationship with each client and caters to the individual needs of
Corporate, Insurance companies, Pension, Provident Funds, etc.
FOREX MARKET:
Silkbank Limited is an active player in the interbank market, providing
competitive prices to satisfy the customer’s FX needs arising from
trade, remittances and other Forex flows in all major currencies. Our
enthusiastic and dynamic sales and trading personnel are committed to
providing competitive quotes in all major currencies with up-to-date
market intelligence, advice and timely execution of deals to our
customers throughout the trading day in local and global currencies.
Information in respect to the prevailing rates of most of the currencies
of the world is regularly updated for the Corporate and individual
clientele of the Bank, as well as information about market changes and
expected opportunities for them to take necessary action if required.
MONEY MARKET:
Silkbank Money Market Desk, through a team of qualified and
experienced professionals contributes in managing the liquidity position
of the bank, amongst other activities. The Silkbank Money Market is
also one of the market makers for Treasury Bills, Pakistan Investment
bond and Term Finance Certificates.
MIDDLE MARKETS:
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To further increase their convenience, four of our branches have been
dedicated to middle market customers, located in Karachi and Lahore’s
City Trade Centers, which offer on the spot customized services and
one-stop solutions to middle market customers.
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ORGANIZATIONAL STRUCTURE
BOARD OF DIRECTORS
COMPANY SECRETARY
Faiz UL Hasan Hashmi
Audit Committee
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Auditors
Legal Advisor
Ghani Law Associates
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ORGANIZATIONAL HIRARCHY
Board of Directors
President/CEO
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Departments
Cash department
Business Development and New Initiatives
Consumer Banking Department
Compliance and Control Department
Clearing and collection section
Financial Control Department
Human Resource Management Department
Information Technology Department
Project Management
Risk Management
Strategic Planning and Investment Department
Finance Division
Corporate Banking
Islamic Department
Commercial Banking
Marketing Department
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CASH DEPARTMENT:
The main purpose of cash department is that it deals in money. As
bank is borrowing and lending institution, therefore cash is the top
most priority of Bank. Another aspect is that cash department is for the
security purpose, security in a sense that there should be no
embezzlement of funds or in money leaded to bank by any party or
person. The efficiency of bank is also related to this department the more
efficient the bank is the stronger and busy is the cash department. Cash
department is divided into two i.e.
Receipts
Payments
RECEIPTS:
1. Collection of funds.
2. Acceptance of deposits.
3. Collection of utility bills.
PAYMENTS:
1. Payments of check
2. Remittances
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This department basically is the think tank of the organization they deal
in long term strategies and provide appropriate situation to deal with
business issues. This function works closely with other departments and
he president in order to identify organization and tactical goals. The
entire study is based on statistical data and research carried out from
time to time.
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Overall compliance department provides advice and guidance to the
business to the business groups to conduct their work within the
requirement of the regulatory environment and also provides regular
awareness training to the bank staff in order to promote a healthy
regulatory climate.
CLEARING DEPARTMENT
The drawee branches shall ensure that fate of all Cheques lodged under
the head “Local Bills for Collection” is given the same day on which
these are presented by the collecting branches.
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collecting branches through IBCAs/or returned unpaid as the case may
be.
When the bank collect/pay the proceeds of Cheque from other bank on
the behalf of its customers then we lodged it in Local Clearing. There
are two types of clearing:
i)OUTWARD CLEARING:
ii)INWARD CLEARING:
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CROSSING THE CHEQUE:
Crossing means two parallel lines drawn across the face the cheque with
or without words written in between them. Crossing may be general or
special. In clearing, cheque is crossed specially. Cheques are stamped
with Bank’s name between two parallel lines to constitute special
crossing. After the cheque has been crossed specially, the holder cannot
receive payment except through the banker named on the cheque
crossing saves the instrument to go it in an effective means of
minimizing the risk of loss.
CLEARING STAMP:
After the cheque has been crossed specially, clearing stamp is put on the
cheque and other instruments, with the next date. So these cheques
would have to be presented in their concerned drawer banks on the
subsequent day.
ENDORSMENT STAMPE:
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After delivering the cheque to bank NIFT send report to SILKBANK
Lahore, then the bank’s staff tally the amount of that report for its own
record.
If the cheques are clear then the SILKBANK Lahore credits the
customer account. If the bank receives the outward return due to any
reason then this cheque is entered into the cheque returned register and
bank charges are deducted according to the schedule of charges.
Then send the outward and return inward as IBDA (inter branch Debit
FCD is responsible for the bank’s financial records, ensuring that the
assets and liabilities of the firm are properly controlled, and providing
accurate and timely financial information to senior management as well
as to statutory and regulatory bodies.
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The department provides profitability analyses, business plans, and
budgets supporting current and future business initiatives. Currently our
financial control group is divided into seven sub groups.
HUMAN RESOURCE
MAANGEMENT DEPARTMENT:
Human resources is term which many organizations describe as the
combination of traditionally administrative personnel function with
performance management ,employee relation and resources planning.
The field draws upon concepts developed in industrial organizational
psychology.
o Organizational Development
o HR Strategy
o Compensation and Training
o HR Administration
o HR Financial Services and Development Compensation and
Training
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INFORMATION TECHNOLOGY
DEPARTMENT:
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COMMERCIAL BANKING
The Commercial Banking Group has been formed to cater the needs of
small & medium size customers for increasing Bank’s business
significantly with clear focus, repositioning of resources and active
marketing to improve Bank’s profitability. Commercial Banking will
deal with customers having sales turnover and aggregate credit exposure
as per benchmarks prescribed in the SBP’s Prudential Regulations.
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COMMERCIAL BANKING GROUP-CBG:
Commercial banking Group (CBG) operates through six regional field offices
located at Lahore, Gujranwala Rawalpindi, Multan, Faisalabad and Karachi.
These regional offices further have hubs in all major cities.CBG deals with
existing and prospective customers having credit requirements within the range
of Rs 21million to Rs 250 million. CBG has dedicated and adequately trained
staff to cater and serve various business clusters /segments. Bank provides
following facilities through CBG counter;
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INVESTMENT BANKING UNIT:
Realizing the increasing diverse needs of our customers for advisory &
structured finance transactions, this department is dedicated for
investment banking to provide comprehensive and innovative financial
solutions.
Project financing
Advisory & Strategic investment
Syndication & Structured Finance
Debt Capital Market
MARKETING
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marketing strategies to meet these commercial and strategic
objectives.
The research conducted is analyzed and used to develop
products
If there is a new situation as per the new need in financial
sector the marketing team adds new line extension in the
product or launches new products
Working is done to identify the brands, images, value, brand
contract and position
New strategies are made increase the market share of
consumer finance as well as commercial finance.
New campaign on media, net and on branch are designed
New broachers are designed printed and circulated in the
branches
As per the new situation due to the increasing interest rate,
SILKBANK has also increased interest rate and its offerings
on the saving accounts.
To understand the needs of the customer and the feature and benefits
of products.
To pursue for the sales target set by the senior management.
To achieve both the strategic as well as financial budgets.
The implementation of strategies given by the marketing department
To translate the strategies into tactical plans and their execution
The sales reps are also equipped with the tools for selling the brands
in this competitive world.
They facilitate the leasing and loaning of car, home and credit cards.
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As per the working of marketing department, the sales people are
provided with
List of potential customers in a city or town. They have also
categorized the corporations as A*,B* and C*
The sales force approaches the customers according to the potential for
different products of consumer banking
On the basis of business transactions through the bank, of a trader and
salary of an employee, the bank gives leasing and loaning. The employee
of a category organization get maximum benefit and enjoy larger limit
for the credit card and can get their car or home loan easily and promptly.
Similarly the bank also does agriculture loaning through one window
operations and thus increasing its market share m this segment.
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Finance division
GM
Company Affairs
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Finance Department
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AUDIT & INSPECTION:
GM
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ACCOUNTS DEPARTMENT WORKING PROCESS :
Every branch has its own Accounts Department which is responsible to
record and process each & every business transaction taking place
during the working day. This Department consolidates the position of
the branch at the day end in the shape of Assets, Liabilities, Revenues
and Expenses. This position is daily sent to the Finance Department of
Head Office which consolidates all these Statement of Affairs bank
wise. This position is sent to the State Bank of Pakistan (SBP).
The main function of Finance Department of Head Office is:
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Use of electronic data in
decision making
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ROLE OF FINANCIAL MANAGER
FINANCIAL MANAGER:
Finance manager organizes and manages an organization's financial
portfolio. A finance manager is a professional who oversee the
preparation of financial reports as required by law and approved by the
organization's board of directors, direct investment activities, and
implement cash management strategies.
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MANAGERIAL FINANCIAL RESPONSIBILITIES:
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individuals and businesses process receipts and payments in an
organized and efficient manner.
COLLECTION:
When it comes to cash collections, there are a few popular options today
that can make the Process of receiving payments from customers much
easier. Automated clearing houses make it possible to transact a business
to business cash transfer that deducts the payment from the customer
account and deposits the funds in the vendor account. Generally, this
Service is available for a fee at local banks.
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Essentially, this collection of processes involves qualifying the
extension of credit to a customer, monitors the reception and logging of
payments on outstanding invoices, the initiation of collection
procedures, and the resolution disputes or queries regarding charges on
a customer invoice. When functioning efficiently, credit management
serves as an excellent way for the business to remain financially stable.
The process of credit management begins with accurately assessing the
credit-worthiness of the customer base. This is particularly important if
the company chooses to extend some type of credit line or revolving
credit to certain customers. Proper credit management calls for setting
specific criteria that a customer must meet before receiving this type of
credit arrangement. As part of the evaluation process, credit
management also calls for determining the total credit line that will be
extended to a given customer.
Financial Institutions that have a diversified portfolio may be more
likely to survive a crashing market. Credit risk management is a
complicated that often requires excellent professional expertise. Excel
is a software product used to analyze and visualize data. Credit risk
management departments in banks large and small utilize Excel
spreadsheets to organize the tens of thousands of pieces of their clients'
risk information profiles into manageable and actionable data items.
CHIEF FINANCIALOFFICER (CFO):
Chief financial officers (CFO) direct the organization’s financial goals,
objectives, and budgets. They oversee the investment of funds and
manage associated risks, supervise cash management activities, execute
capital-raising strategies to support a firm’s expansion, and deal with
mergers and acquisitions.
As the Chief Financial Officer (CFO) of bank, he is responsible to the
company’s Board of Directors for all accounting and financial matters.
He must establish company-wide objectives, policies, procedures,
processes, programs, and practices to assure the company of a
continuously sound financial accounting structure.
1. Cash Flow
2. Company Liabilities
3. Company Performance
4. Department Supervision
5. Budgeting and Expense Control
6. Financial Relationships
7. Finance or Raising Capital
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8. Financial Obligations
9. Record Control
10. Shareholder Relations
CASH FLOW:
As a CFO, his job is to control the cash flow position throughout the
company, understand the sources and uses of cash, and maintain the
integrity of funds, securities and other valuable documents. You receive,
have custody of, and disburse the company’s monies and securities.
CFO responsibility includes the authority to establish accounting
policies and procedures for credit and collections, purchasing, payment
of bills, and other financial obligations. Cash is king and the flow of
cash, or cash flow, is the most important job a CFO has in any bank.
COMPANY LIABILITIES:
After cash flow, the CFO must understand all of the company’s
liabilities. A company has many legal contracts, statutory & tax
obligations, hidden liabilities in the form of contingencies, leases, or
insurance summaries, and expectations from loan covenants and/or the
board of directors.
COMPANY PERFORMANCE:
The CFO must understand the company business model for generating
customer value and translate the operational metrics into measures for
performance. The CFO is the bank scorekeeper using tools like the
balanced scorecard, dashboards, and financial statement ratio analysis
to communicate both the company’s expected and actual financial
performance.
DEPARTMENT SUPERVISION:
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CFO supports the company’s accounting and financial functions using
job descriptions, policies, and procedures.
FINANCIAL RELATIONSHIPS:
Finance is one of the key roles of the Chief Financial Officer. The CFO
will establish and execute programs for the provision of capital required
by the company, including negotiating the procurement of debt and
equity capital and maintaining the required financial arrangements. As
the CFO, coordinate the long-range plans of the company, assess the
financial requirements implicit in these plans, and develop alternative
ways in which financial requirements can be satisfied.
FINANCIAL OBLIGATIONS:
RECORD CONTROL:
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The CFO is responsible for the financial aspects of all company
transactions including real estate bids, contracts, and leases. The CFO
also provides insurance coverage, as required, ensures the maintenance
of appropriate financial records, prepares required financial reports,
insures audits are completed in time and statutory book closing occur.
The CFO has primary responsibility for ensuring company compliance
with financial regulations and standards.
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Financial statement of Silk Bank (five years data)
Assets 2017 2016 2015 2014 2013
Current Assets
Cash and balances with treasury banks 3,120,880 3,070,067 3,223,780 3,994,136 2,525,340
Balances with other banks 151,068 190,197 128,991 613,678 923,044
Lendings to financial institutions 1,067,708 1,376,651 839,959 4,747,567 8,831,063
Total Current Assets 4,339,656 4,636,915 4,192,730 9,355,381 12,279,447
Fixed Assets
Investments - net 20,179,329 12,012,233 17,859,169 15,828,682 12,464,577
Advances - net 32,097,490 31,087,373 25,874,972 29,021,974 19,513,727
Operating fixed assets 3,720,695 3,002,450 2,367,883 2,322,371 1,541,536
Deferred tax assets - net 3,976,149 2,613,939 1,767,715 1,015,123 911,307
Other assets - net 4,351,022 2,292,358 1,598,131 1,657,318 1,037,955
Total Fixed Assets 64,324,685 51,008,353 49,467,870 49,845,468 35,469,102
Capital
Share capital/TOS 9,003,150 9,003,150 5,001,750 3,847,500 3,847,500
Reserves 224,649 218,556 218,556 218,556 218,556
Accumulated Loss (9,030,894) (6,131,709) (4,119,537) (1,080,726) (860,072)
Surplus on revaluation of assets - net of
tax/SOR 1,566,184 1,301,363 1,079,670 1,012,709 600,618
Total Equity 1,763,089 4,391,360 2,180,439 3,998,039 3,806,602
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Profit and Loss Account for Silk Bank (five years data)
Particulars 2017 2016 2015 2014 2013
Taxation
Taxation - Current year 8,414 16,462 35,382 - 156,100
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- Prior years 34,616 - 439,351 - -
- Deferred (1,392,584) (836,449) (754,091) (105,282) (80,243)
Share of tax of associated - - - - -
Total Taxation (1,349,554) (819,987) (279,358) (105,282) 75,857
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LEARNING AS INTERNEE
BRANCH DESCRIPTION:
I have worked for 6 weeks in this branch and I did different work in
different departments mainly I work in Customer Relation Department.i
learn how to deal with customers.
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FUTURE PROSPECTS OF THE
ORGANIZATION
(SILKBANK)
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weakness
Weak Aspects of Silk bank
Every organization has some area of improvement which is
normally called shortfall/weakness. These weaknesses can be
converted into strength and opportunities if these are planned
and implement properly. I also noticed some shortfall and
weaknesses in Silk bank as an internee. Some major
weaknesses are mentioned below:-
Innovative Products
There are lack of new and innovative products which can be
attract the customer and will effective to the banking
achievements.
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Incentives
If we observe the employees satisfaction scheme we can observe
that the lack of satisfaction as an employee.
Technological Advancements
Silk bank has not using technological enhancement for their
benefits.
Staff combination
The Branch has a good staff combination on the basis of
experience, but their training capabilities are not up to the
requirements of the fast changing banking environment.
Technical training
The technical training of the staff is negligible e.g. in case of the
absence of computer there is no alternate trained personal who
can record the daily transactions
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What I found and What I Suggest to
Silk bank?
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Promotions must not be delayed and should be made on time
to further increase the commitment and efficiency of the
employees.
Efforts have been made with serious concern to give Silk bank a
status that it has to maintain by having practices of:
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SWOT ANALYSIS
STRENGHTS:
SILKBANK consumer operations department people are very
cooperative with sales people.
SILKBANK offering Customized Products and services
aggressively better than its competitors
SILKBANK target the segment like salaried person, business
people and self-employed person.
Improved operational efficiency as to its past
Marvelous Image and Reputation of the bank in the eyes of its
customers
Extensive Branch network
85 Branches all over Pakistan
Attractive Salaries and incentives for employees
Personnel of SILKBANK are very well trained. Majority of
employees have many years of experience in banking sector and
are an asset for the bank.
WEAKNESSES
Is from sales department because they can move the file toward
consumer operations after long times
No standardization in terms of branches some of the branches
are very attractive and most of the branches are not very good
like other branches.
In some regions, urban areas of Pakistan service of SILKBANK
is not good as compared to other privatized banks
The application time is also quite lengthy.
SILKBANK is a step behind in using new technology as
compared to other banks
All branches need orientation for customer dealing.
Most of the employees are overload with the work and
promotion is also not timely.
Most of employees are experienced and they are not able to deal
customers well, adopt new culture and above all they are unable
to use of new technology like computers.
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OPPORTUNITIES
Bank can extend its network in other cities of Pakistan like other
4 remote cities, it would increase their sales.
Proper orientation of employees in all branches can help them to cope
up with foreign banks.
By bringing new technology and modern business processes will bring
the change and increase their profitability
Call Centre services should be improved to enhance their
network.
THREATS
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PEST ANALYSIS
PEST analysis of any organization is important factors that affect the
industry and influence the economic and the sector. PEST stands for
Political, Economic, and Socio cultural and technological factors. The
PEST analysis is a tool to analyze the forces that effect the organization
and those factors can influence the industry.
Political
Economical
Socio cultural
Technological
POLITICAL FACTORS:
Government policies affect the banking sector. Sometimes looking into
the political advantage of a particular party, the Government declares
some measures to their benefits like waiver of short-term agricultural
loans, to attract the farmer’s vote. By doing so the profits of the bank
get affected. Various banks in the corporative sector are open and run
by the politicians. They exploit these banks for their benefits.
Sometimes the government appoints various chairmen of the banks.
Various polices are framed by the SBP looking at the present situation
of the country for better control over the banks.
ECONOMIC FACTORS:
Banking is as old as authentic history and the modern commercial
banking are traceable to ancient times; banking has existed in one form
or the other from time to time. Every year SBP declares its 6 monthly
policy and accordingly the various measures and rates are implemented
which has an impact on the banking sector. Also the Union budget
affected the banking sector to boost the economy by giving certain
concessions or facilities.
If in the Budget savings are encouraged, then more deposits will be
attracted towards the banks and in turn they can lend more, the money
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to the agricultural sector and industrial sector, therefore, booming the
economy. If the FDI limits are relaxed, then more FDI are brought in
banking channels, like GDP, Low Interest Rates, Inflation Rates,
savings accounts, and agriculture credit.
TECHNOLOGICAL FACTORS:
Technology plays a very important role in bank’s internal control
mechanisms as well as services offered by them. It has in fact given
new dimensions to the banks as well as services that cater to and the
banks are enthusiastically adopting new technological innovations for
devising new products and services. Like ATM, IT services & Mobile
banking, core banking solutions etc.
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CONCLUSION
The banking system, as a whole, remains healthy despite the economy
going through a period of economic difficulty. The banking sector
absorbed the build-up of non-performing loans in the system while
maintaining profitability and robust balance sheets. Much of the credit
for this must go to the SBP for the policies it has pursued over the last
decade to ensure that banks are adequately capitalized and adhere to
prudent risk management. The objectives were targeted towards
customers, improved management policies, strong policy framework,
improved governance structure, strategic investment initiatives and
implementation of cost effective measure across bank. The group
structure of the banking dividedly worked hard in achieving the
milestones under continuous monitoring and supervision of the senior
management and Board. The bank displayed extraordinary results in
both financial and non-financial terms.
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REFFERENCE
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