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The Bank of Punjab
HISTORY OF BANKING IN PAKISTAN
Pakistan came into being on 14th August, 1947; sufficient banking services
were available in the areas forming Pakistan. Out of the total branches of the nearly
3,500 in the undivided India, as many as about 1,500 branches were existing in these areas.
It was agreed between the two countries that reserve bank of India shal
continue to function in the Pakistan territory until 30th September 1948 and tha
Indian notes would continue to be legal tender at Pakistan until 30th September 1948 Unfo Unfort rtun unat atel ely, y, relat relatio ions nshi hip p betw between een the the two two coun countr trie iess beca became me most most strai strai
immediately after independence; banking was mostly in the lands of Hindus who immediately started transferring their offices and assets assets into India. As a result most
the banks in Pakistan were closed down and even those which were open were no doing any effective business.
The number of banking office in Pakistan came down to about 200 on 30th
June 1948. Branches of some European banks were also functioning in a limited manner, financing in export of crops, and their number was limited to about 20.
It was only the Habib bank, which transferred its office from Bombay to
Karachi Austral Asia bank was another bank, which was in existence in the Pakistan
territory at the time of independence. Despite of best efforts on the part of governmen
of Pakistan, no heady way could be made on this behalf and reserve bank of India wa Master your semester with Scribd Free Foron 30of Days SignIndia, up to vote this titlereserve bank in no mood to help the new country. Imperial bank Read of agent the & The Newof York Times Useful Not useful India also started closing down its branches in Pakistan. Special offer for students: Only $4.99/month.
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Reserve bank also refused to advance money to Pakistan to make essentia
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NATIONALIZATION OF BANKS The principle of nationalization of banks is to stream line the operation o
commercial banks in such a way that it may be conductive to the developmen activities in process in the country.
Since the commercial banks were owned controlled by big business groups of
the country it was feared that these banks would not maintain uniformity in their opera operati tion onal al and and woul would d be inst instru rume ment ntal al to infl inflat atio iona nary ry pres pressu sure. re. Howev However er,, considerations behind nationalization are
To form uniformity in the policy of the commercial banks so they may serve the best national interest.
To make the operation of commercial banks highly sensitive and responsive to the policy of the government relation to financial matters.
To make make the the cred credit it poli policy cy of the the comm commer ercia ciall bank bankss more more purp purpos osee full full
effective especially in the development of economic sectors of the country. It act as an agent of the State Bank of Pakistan
To make the best use of the funds funds available at the disposal disposal of these banks for the economic development of the country.
To eliminate unhealthy and uneconomic competition among commercial banks.
To development strong money banks market in the country so that the value o
may bewith maintained at stable level both in national facilities to exporte Master your currency semester Scribd Read Free Foron 30this Days Sign up to vote title and agriculturists which have not been satisfactory in the past years. & The New York Times Useful Not useful Special offer for students: Only $4.99/month.
Public Sector Commercial Banks
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The Bank of Punjab
Local Private Banks
Askari Commercial Bank Limited Bank Al-Falah Limited Bank Al Habib Limited Meezan Bank Limited Faysal Bank Limited Silk Bank Limited Soneri Bank Limited Union Bank Limited Muslim Commercial Bank Limited Allied Bank of Pakistan Union Bank Limited
Foreign Banks
ABN Amro Bank CITI Bank Habib Bank A. G. Zurich Mashreq Bank PJSC Oman Bank
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It has not so far been decided as to how the word ‘Bank’ ‘Bank’ originated originated.. Some author’ author’
opinion is that, this word is derived from the word ‘Bancus’ or ‘Banque’, which
means a bench. Others authors hold the opinion that the word word ‘Bank’ is derived from
the German German word ‘Back’, ‘Back’, which which means means joint joint stock stock fund. fund. It is therefo therefore re so muc difficult to decide as to which opinion is correct.
Banking in fact is primitive as human society, forever since man came to reali realize ze the the impo importa rtanc ncee of mone money y as a medi medium um of exch exchan ange ge,, the the nece necess ssit ity y of
controlling controlling or regulating regulating agency or institutio institution n was naturally felt. Perhaps Perhaps it was th
Babylonians who developed developed banking system system as early as 2000bc. 2000bc. It is evident that th
temples of the Babylon were used as ‘Banks’ because of the prevalent respect and confidence at the clergy. At the time of independence there were 631 offices of the scheduled banks
Pakistan, Pakistan, of which 487 were were located in West Pakistan Pakistan alone. As a new country w
resources it was very difficult for Pakistan to run its own banking system immediatel
Therefore the expert committee recommended that the Reserve Bank of India shou
continue to function in Pakistan until 30, September 1948, so that problems of time an
demand liability, coinage currencies, exchange etc, could be settled between India a Pakistan. The non non Muslims Muslims started transferring their funds and accounts accounts to India.
the end of June 1948, the number of officers of scheduled banks in Pakistan declin
Master your with offic fromsemester 631 to 255. There wereScribd 19 foreign banks with theFree status small branch Read Forof 30this Days Sign up to vote on title & The NewthatYork Useful Not useful were Times engaged solely in export crop from Pakistan, while there were only tw Special offer for students: Only $4.99/month.
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Pakistani institutions, Habib Bank, and Australasia Bank, the customers of the ban
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The Bank of Punjab
THE BANK OF PUNJAB
VISION STATEMENT
“To be a customer focused bank with service excellence.”
MISSION STATEMENT
To exceed the expectations of our stakeholders by leveraging our relationship with with the Govern Governmen mentt of Punjab Punjab and delive deliverin ring g a comple complete te range range of profes professio sio
solutions with a focus on programmed driven products & services in the Agriculture and Middle Tier Markets through a motivated team.
CORE VALUES
Our Customer As our first priority. Profitability For For the the pros prospe peri rity ty of our our stak stakeh ehol olde ders rs that that allo allows ws us
constantly invest, improve and succeed.
Master your Corporate semester with ScribdTo Enrich the Social Responsibility Lives of community where we Read Free Foron 30this Days Sign up to vote title operateTimes & The New York Useful Not useful
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Special offer for students: Only $4.99/month. and Reward For the talented and high performing employees Recognition
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The Bank of Punjab
HISTORY OF BOP
The Bank of Punjab was established in 1989 and was given the status o scheduled bank in 1994. The Bank of Punjab is working as a scheduled commercia
bank with a network of almost 273 branches at all over major locations in the
Punjab. The Bank provides all types of banking services such as Deposits in Loca
Currency and client foreign currency, remittances, and advances to business, trade
industry and agriculture. The Bank of Punjab has indeed entered a new era of science
to the nation under experience and professional hands of its management. The Bank
of Punjab plays a vital role in the national economy through mobilization of hitherto
untapped local resources, promoting savings and providing funds for investments. The
bank offers attractive rates of profit on all deposits, opening of foreign currenc
accounts and handling of foreign exchange business for example imports, exports and remitta remittance nces, s, financ financing ing,, trade trade and indust industry ry for workin working g capita capitall requir requireme ements nts
money money market market operati operations ons.. The lending lending policy policy of bank bank is not only cautio cautious us and
constructive but also based on principles of prudent lending with maximum emphasis
on security. Master your semester with Scribd Read Free Foron 30this Days Sign up tosuch vote title The Bank provides alltypes of banking services as Deposit inLoca & The NewCurrency, York Times Useful Not useful Client Deposit in Foreign Currency, Remittances, Advances to Business Special offer for students: Only $4.99/month.
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Trade, Industry and Agriculture A wholly owned subsidiary of BOP First Punjab
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instruments. FPM is working to introduce new and innovative products to enhance its range of services.
AWARDS AND ACHIEVEMENTS Excellence Award by the Central Board of Revenue
The Central Board of Revenue Revenue presented "Excellence "Excellence Award" to the Bank of Punja in recognition of the contribution made by the bank towards Government exchequer. 3rd Kissan Time Awards
In recogni recognitio tion n of Bank's Bank's contri contribut bution ion in develo developme pment nt and growth growth of agricu agricultu ltu
sector, the Bank honoured with "Top Bank for Agriculture Loans" and "Best Bank Crop Insurance" under 3rd Kissan Time Awards year 2006 . Best Corporate Report Award
Annu Annual al Repo Report rt of the the Bank Bank for for the the year year 2005 2005 won won 5th 5th posi positi tion on for for "The "The Be
Corporate Report Award" for the Financial sector, adjudicated jointly by the Institute
of Chartered Accountants of Pakistan and the Institute of Cost and Managemen Master your semester with Scribd Read Free Foron 30this Days Sign up to vote title Accountants of Pakistan. & The New York Times Useful Not useful Special offer for students: Only $4.99/month.
16th Bolan Excellence Award
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The Bank of Punjab
MAJOR CUSTOMERS OF BOP
Some of the major customers of Bank of Punjab are:
Educational Institutes
Agriculturists
Pakistan Telecommunication Private Limited
WAPDA
Pharmaceutical Companies
WASA
MDA
PUNJAB GOVERNMENT SHOWS FAITH IN BOP
Punjab Government wishes to state that being the major stake holder in the
Master your semester with Scribd Read Free For 30this Days Bank of Punjab it has full faith in the new management and operations Sign up to vote on titleof the Bank & The NewTheYork Times Useful Not useful the Bank govern governmen mentt furthe furtherr pledge pledgess its unequi unequivoc vocal alsuppo support rt to Bank and firmly firmly Special offer for students: Only $4.99/month.
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believes that the affairs of the Bank are sound and its financial health robust.
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BRANCH NETWORK
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The Bank of Punjab •
Rawalpindi Region
•
Karachi/Queta Region
•
Multan Region
•
Gujrat Region
HEIRARHICAL FLOW
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The Bank of Punjab
BOARD OF DIRECTORS
Name
Designation
Mr. Safdar Javaid Syed
Chairman
Mr. Naeemuddin Khan
President
Mr. Azhar Hameed
Director
Mr. Haroon Khawaja
Director
Mr. Farooq Ahmed Awan
Director
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Mr Shafqat Ellahi
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Directo r Director
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The Bank of Punjab
GENERAL BANKING OF THE BANK OF PUNJAB
DEPOSIT DEPARTMENT
In modern times very few business enterprises enterprises are carried out solely solely with capital capital of the owners. owners.
Borrow Borrowing ing funds funds from from differe different nt sources sources has become becomess
essential feature of today business enterprise. But in the case of a entire banking
system is based on it. The borrowed capital of the bank is much greater then their own capital. Banks borrowing is mostly in the form of deposits.
Master your semester with Scribd These These deposi deposits ts are lent len t out to differe different nt partie parties. s. The larger the differ dif enc ferenc Read Free Foron 30this Days Sign up to vote title between rate at which the deposits are borrowed and the rate at which they is len & The New YorktheTimes Useful Not useful Cancel anytime.
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agreement that the amount owned would be paid back by the bank to the depositor after a specified period.
NATURE OF DEPOSIT
Current or demand Deposits
Saving Deposit
Short Notice Term Deposit
Call Deposits
Fixed or Term Deposits
CURRENT DEPOSIT
Current deposit are those which are payable to bank whenever demand by the
customer. Bank doesn’t pay any profit on current deposits. There are of differen
scheme of saving deposits, which are classified under different duration purpose and
rate of interest. Fixed deposits are those which are by the bank under the condition
that will not be payable on demand but will be payable under fixed or determinate future time date.
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Special offer for students: Only $4.99/month. This type of accounts is one step towards the Islamization of banking system
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Under PLS saving account the depositor undertakes to share profit or loss on the
deposits earned or sustained by the bank. Secondly the bank is at the liberty to inves
the funds of the deposits in any avenue, it deems fit. The PLS deposits are invested in non-interested channels.
SHORT NOTICE TERM DEPOSITS
This kind of deposit is for a short period. The depositor may withdraw his
deposit at any time by giving seven days notice to the bank. This type of deposi
facilitates the depositor to withdrawn his amount with interest of the deposited period
CALL DEPOSIT
Call deposits are the sorts of deposits, which are deposited with the banke
against any tender. This is without interest deposit. This may be with interest provided the depositor has agreed to keep this amount with the bank for some fixed period.
TERM DEPOSIT RECEIPTS
This type of deposit is same as the SNTD. The difference is that SNTD is for shor Master your semester with Scribd Foron 30this Days Sign vote title period (7- 30 days) while TDR is for long period (1 monthRead up up toFree 5toyears). & The New York Times Useful Not useful
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The necessary condition for a customer, who wants to open an account with the bank
is introduction, which is preferably by the bank officers or any account holder of the bank. The different categories of accounts that are available are as under.
•
Individual Account
•
Joint Account
•
Partnership Account
•
Limited Company Account
•
Clubs, Society, Association, or Trust Account
•
SNTD
•
TDR
•
Foreign Currency Deposit
ACCOUNT OPENING PROCEDURE
The general banking department performs various functions among them the
first and most important important function is Account Opening. Opening. The bank reserves the the right to open any account, which in its opinion opinion is suitable as a customer. The process of
opening an account is very simple and any body that would like to open his accoun could do it easily without any difficulty.
The person would like to open his account is required to meet with the manage Master your semester with Scribd Read Free Foron 30this Days Sign up to vote title d second second officer, officer, who will give give him an Applic Applicatio ation n form form specif specifica ically lly used use & The NeworYork Times Useful Not useful Cancel anytime.
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to the customer. Manager has every right not to accept this contract if he is no
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maintain the safe record and application form is also safely put off, so that it can be
available available whenever it is needed. Checking Checking officer is responsible responsible to tally the manua
data with computerize computerized d account opening opening file. For fix deposit deposit only the applicatio applicatio
form is needed, which is prepared manually, because most of the procedures of fix
deposit deposit is done manually. manually. Signature Signature specimen specimen card contains contains three signatures signatures of th
applicant, applicant account number, account type, branch code, and title of account
It will be attached with the account account opening opening form. Banker Banker uses this card when when h
receives the cheque, he compares signature on the cheque with the Specimen card, fo avoiding the frauds.
CLEARING DEPARTMENT
This department receives the cheque and other negotiable instruments drawn on
local branches of other banks. State bank of Pakistan has clearing house, in which cheq cheque ue,, and and othe otherr nego negoti tiab able le inst instru rume ment ntss are are brou brough ghtt by each each loca locall ba
repres represen enta tati tives ves and and the the mutu mutual al claim claimss of each each bank bank on othe otherr and and offs offset et and and Master your semester with Scribd Read Free Foron 30is Days Sign up tosystem vote this title full for both settlement is made by the payment of difference. Clearing help & The NewtheYork Times Useful Not useful customer and saving currency, time and labor. Special offer for students: Only $4.99/month.
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The Bank of Punjab •
Dividend Warrants
CLEARING
Any instruments which drawn on BOP branches and other banks in same city
that’s instruments are called clearing. A clearing and date stamp is a fixed on thes instruments these are two types of clearing! •
Outward Clearing
•
Inward Clearing
Inward clearing means the cheque drawn on BOP and outward clearing means the Cheques drawn on others
OUTWARD CLEARING
The instrument collected or stored bank wise and a schedules is prepared
separately for each bank mentioning the total number of instruments and the amoun
of the the inst instru rume ment nts. s. Then Then thes thesee are are reco record rded ed in a regis registe terr calle called d “OUT “OUTWA WA Master your semester with Scribd Read Free Foron 30this Days Sign up to vote titletotal numbe CLEARING REGISTER” then a main schedule is prepared showing the & The Newof York Times Useful Not useful cheque and their aggregate amount being presented in the clearing. Special offer for students: Only $4.99/month.
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The cheque/instruments are handed over the clearing branch. Central clearing branch
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On receiving cheque/instruments from central clearing branch, the in charge
checks the number and amount of cheque received in clearing must tally with the main schedule received from central clearing branch.
These cheque/instrument are entered in “INWARD CLEARING REGISTER” for the
cheque/instrument passed in clearing is a credit advice for the aggregate amount o cheque passed in clearing is prepared, drawn on central clearing branch.
RESERVES AT STATE BANK
Deposit held by bank at SBP serves as check clearing and collection balances Rath Rather er than than phys physic ical ally ly tran transf sfer errin ring g fund fundss betw betwee een n bank banks, s, chec check k clea clearin ring g collection can be done by simply debiting or crediting a bank’s account at SBP.
REMITTANCE DEPARTMENT
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one place to another place. The need for remittance is commonly felt in commercia
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The Bank of Punjab •
Demand Draft (DD)
•
Mail Transfer (MT)
•
Telegraphic Transfer (TT)
•
Pay Order
•
Now we discuss all these in detail:
DEMAND DRAFT (DD):
Demand draft is a written order given by the one branch of a bank on behalf o
customer to another branch of the same bank to a certain amount to the certain person
PROCEDURE
1) A draft voucher is filled which contains the following information •
Name of the parties involved
•
Date
•
Amount to be sent
•
Account number (if DD is crossed)
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6) After authentication the DD is handed over to the sender and bank sends the
advice to the concerned branch. So when the party presents the DD in the concerned branch its payment could be made.
PARTIES INVOLVED
The following parties are involved in demand draft; 1) Purchaser or Sender
The purchaser is the person who sends the money to a particular person payable a a certain branch. 2) Issuing or Drawing Branch
The branch from where the demand draft is issued to another branch of the same bank. 3) Drawer Branch
Branch in which the draft has drawn and called upon to pay the amount. 4) Payee
The person who is entitled to receive the amount after presenting the demand draf in the drawer branch.
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MAIL TRANSFER
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1) First a voucher is filled in whish the sender writes the amount to be sent, name
account number of the receiving person with the branch name and date.
2) A credit voucher is filled in order to deduct exchange, postage charges according
to the amount of the mail transfer. 3) The sender deposits the total amount in the cash department.
4) The cash officer gives the vouchers to the officer after affixing received cash
stamp and writing the amount in red ink.
5) Then the officer writes the amount paid in the cash scroll and gives the MT to his
assistant.
6) MT leaf is filled according to the information provided in credit voucher. He also
writes the same information in the MT register. Then he gives the MT leaf and MT register to the officer for authentication.
TELEGRAPHIC TRANSFER
This is the most urgent method of remitting the money from one place to
another place. This method is used when the sender desires to send urgently, in this case the sender request the manager of the branch to issue TT.
PROCEDURE
For sending the TT the manager and officer apply a test. In the test the
manager and officer uses a coding technique. They write their own code numbers
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convey the same message through telephone then he has to pay the charges of
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A pay order is a written order issued by the bank on its own branch, drawn
upon and payable by itself to pay a specified sum of money to the person. The purpose of a pay order is to transfer the fund from one place to another. It is usually
not issued in favor of the parties of other cities. Usually the pay order is issued for the
local transfer of money from one person to another or from the person to any othe
department. It is used for different purposes. The purpose may be the repairs of the branch or renovation of the branch.
PROCEDURE
The procedure of a pay order varies with the nature of the purpose. If the work
is of huge amount then first the manager writes a letter to the Zonal Chief in order to get get sanc sancti tion on of the the work work.. Then Then the the adve advert rtis isem emen entt of the the work work is give given n in
newspaper newspaper in order to invite invite the contractors. contractors. But if the work is small then the branc manage managerr has discretio discretionar nary y power power to select select the party party whose whose rate is lowest lowest.. Aft
finishing the work the contractor submits the bill of work on his stamp pad. Then the
bank issues a pay order, against the pay order the contactor gets the amount from the issuing branch.
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Account department is the backbone of a bank. It plays a vital in performing
different functions of a bank. The account department of is computerized as well as manual manual.. Accoun Accountin ting g books books of differe different nt depart departmen ments ts are mainta maintaine ined d under under
department and with the help of these, accountant prepare the monthly quarterly
semiannually and yearly financial statement and order statement of the whole bank
All the transaction taking place is recorded daily in the books of accounts and in computerized ledgers. For every transaction there is Voucher prepared and through these voucher
contra entries are passed under different head. Good working of accounts mainly depend dependss on the vouche voucherr system system.. Account Accountss depart departmen mentt is respon responsib sible le for pro handling and maintenance of vouchers of different department .
MANUAL FUNCTIONS OF ACCOUNTS DEPARTMENT
Accountant prepares vouchers for all daily activities of different departments
Checking officer checks and tallies these vouchers with their daily transactions and posts their entries under proper heads.
TYPES OF VOUCHERS
•
Debit Voucher Credit Voucher
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The Bank of Punjab •
Daily receipt voucher sheet
Paid sheet is used for all debit vouchers and receipt sheet is used for all credi vouchers.
CASH BOOK
Cash book is prepared daily to keep the record of daily paid vouchers. Cash
book contains the opening balance and the closing balance of a working day. Before
writing and balance the cash book firstly there is needed to properly arrange all the vouchers of that day.
MAINTAINING & UPDATING LEDGERS
One of the functions of accounts department is to maintain and update the term deposit deposit ledgers and books books manually. Term deposit receipt or TDR ledger is upda
after every month for estimating profit on customer’s accounts. Accountant prepare diffe differe rent nt ledg ledger er for for all all sche scheme mess of term term depo deposi sit. t. With With the the help help of TDR TDR ledg ledg
accountant prepares “provisional ledger”. From this ledger accountant calculate th
mont monthl hly y prod produc uctt of each each acco accoun untt and and esti estima mate te the the prof profit it for for a half half-ye -year ar.. Th semiannual profit on each account will be the expenses of branch.
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Most of the daily working is done through ledgers. In BOP all the daily
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The Bank of Punjab •
Daily general ledger assets
•
Daily general ledger liability
•
Daily general ledger circle expense
•
Daily general ledger audit expense
The formats of all these ledgers are same. They contain the following head account no. description, previous balance. Codes are assigned to all these items.
Income will be credited in the branch account and expenses will be debited I the branch at the month end. All the expenses of circle, regional, audit, inspection office is debited in th
head office account, because it is the responsibility of the head office to bear the
expenses of its offices. For all the heads of general ledger there is closing balance and open openin ing g bala balanc nce. e. Thes Thesee ledg ledgers ers are are help helpfu full in prep prepar arin ing g the the dail daily, y, mont monthl hl semiannually and yearly statements. Some of these statements are prepare for the
purpose of record keeping of branches and some are prepared to send to the circle office, head office and state bank of Pakistan. Some of these statements are
•
Statement of provisional income
•
Statement of provisional expense
•
Statement of head office account
of income and expense Master your Summary semester with Scribd Statement of profit and loss on PLS account & The New York Times •
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The Bank of Punjab
BILLS DEPARTMENT
This department department deals in bills for collection for all kinks such as cheque, draft
and pay orders, call deposits etc. with outstation branches of BOP or with other banks
It provides service service to their customer customer to get payment from the nearer bank at nomina charges. The four main heads of bill department is. Outward Bill for Collection (OBC) Inward Bills For Collection (IBC) Outward Documentary Bills For Collection
(ODBFC)
Inward Documentary Bills For Collection
(IDBFC)
OUTWARD BILLS FOR COLLECTION
Bills department receive cheque or other of bills from its kinks
client whos
account must be opened in that branch. The branch forwards the check with schedule
or covering letter to that branch on which bills is drawn. The checking officer of bills
department will cross the cheque with special bank stamp before forwarding the cheque.
OBC register is also maintained for proper record keeping of outward bills
This register is updated two times once at the time of receiving bill from clients and Master your semester with Scribd Read Free Foron 30this Days Sign up toreceived vote title the payable the other when the confirmation advice of this cheque is from & The New York Times Useful Not useful branch. Bank gets a commission Rs. 25/- and courier charges Rs. 40/- on the service. Special offer for students: Only $4.99/month.
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In case of verification of bills is approved, banks debit the account of the respective account holder and send a debit advice to the originating branch and at the same time
credit the head office account for inward bills IBC register is maintaining for keeping the proper record of the bills.
OUTWARD DOCUMENTARY BILLS FOR COLLECTION
Originating branch receives the documentary bills from their clients and sen
them to out station branches of the same bank or other bank. Customer account mus
be opened in that branch. The documentary bills are i.e. trust receipt, railway receipt
sales invoice, invoice, receipts of courier courier service etc. bank gets as commission commission 0.35% 0.35% plu
postage charges plus courier service charges of this service. Seller and producer both can avail the facility of bank in case of selling and purchasing their product or goods.
INWARD DOCUMENTARY BILLS FOR COLLECTION
Bank receives the documentary bills from the other outstation branches of th same banks or other banks for collection the amount from purchaser.
In this case back acts as a buyer’s bank, when bank receives the documentary bill
they send intimation to buyer about his arrival of goods. If the buyer is the accoun
holder then bank will debit his account otherwise purchaser deposits the amount o
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ADVANCES/CREDIT ADVANCES/CREDIT DEPARTMENT
It is the loan function, which produces the major person of bank’s income, and as such it is the major areas of professional banker’s concern and attention.
PRINCIPLES WHILE ADVANCING
Basically there are five principles that must be duly observed while advancing money to borrowers. •
Safety
•
Liquidity
•
Disposal
•
Remuneration
•
Suitability
FORMS OF LENDING
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This form of finance was previously known as “overdraft”. When a customer
requires the temporary accommodation, his bank allows withdrawal his account in excess of credit balance, which the customer has in its account, a running finance
occurs. The accommodation is thus allowed collateral security. When it is agains
collateral securities, it is called a “Secured Running Finance” and when the custome
cannot offer any collateral security except his personal security, accommodation i called called a “Clean “Clean Runnin Running g Financ Finance.” e.” The custom customer er is in advant advantage ageous ous positi position on
running finance because he has to pay the mark-up only the balance outstanding against him on daily product basis.
DEMAND FINANCE
This is common form of financing to commercial and industrial concerns and is mad mad avail availab able le eithe eitherr agai agains nstt pled pledge ge or hypo hypoth thec ecat atio ion n of good goodss prod produc ucee merchandise. In Demand Finance the party is financed up to a certain limit either at
once or as and when required. The party due to facility of paying mark-up only on the amount it actually utilizes prefers this form of financing . •
Ordinary Shares
•
Preferred Shares
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of loan, and existing debts or the performances of the engagement this may rise the pecuniary liability.
The transfer is called the ‘mortgager’ and the transferee the ‘mortgagee’ the principa
money and interest of which payment is secured for the time being and instrument by which the transfer is effected, is called the letter of the mortgage deed.
Availability of adequate flows of credit for industry and agriculture are a sine qua non
for the growth and development of an economy. This acquires added importance
when agriculture is the mainstay of the economy as also the sector where the bulk o the poor poor are concen concentrat trated. ed. Growth Growth and produc productiv tivity ity in Pakist Pakistan' an'ss agricu agricultu lture re
slowed down in recent years and is, therefore, of serious concern given its importance for the economic prosperity of the country. Apart from various other weaknesses in
the infrastructural infrastructural support of the agricultural agricultural sector, sector, inadequacy inadequacy and lack of efficac
of credit, flows to support agriculture related activities has been a major constraining factor.
Agriculture is the largest sector of the economy. It contributes 25 percent to GDP
provides provides raw materials materials to 80 percent of industry industry and employment employment to over 50 percen of the population. This is a sector that has the shortest gestation period for
investments and, therefore, a remarkable capacity to bring about a turn around in th
economy. This important sector in Pakistan is suffering from a number of maladies
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remain low and, therefore, the sector has perpetually remained capital starved. The
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Increase agricultural production to meet the country's requirement of essentia foods items and industrial raw materials.
Develop agro-based industry in the rural sector for economic value addition;
Generate additional employment opportunities in rural as well as adjacent smal towns/cities
Control massive migration to the urban centers that in turn is causing a number of
social, administrative (i.e. law and order) and economic problems for the urban areas
Elevate poverty and improve the income generating capacity of the agri-based population.
AGRICULTURE SCHEME
There are many agriculture promotion schemes provided by BOP.
Green Tractor Lease Finance Scheme
Agri Finance Branches
Agricultural Finance Scheme
Kissan Dost Tractor Scheme
Second Hand Tractor Lease Finance Scheme Kissan Dost Aabiari Scheme
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Kissan Dost Eslah-E-Arazi Scheme
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Lease Finance Facility for Milch Animals
Running Finance-Livestock/Poultry and Fish Farms
Kissan Dost Model Dairy Farms (PDDC)
Kissan Dost Model Milk Collection Center (PDDC)
Kissan Dost Green House Finance Facility
Kissan Dost Cold Storage Finance Facility
Scheme for Controlled Sheds
Lease Finance Facility for Installation of Biogas Plant
Group Financing to Small Farmers
Clean Credit Facility through Syngenta Franchisees
Zarkaashat Drip Irrigation System
Markup of Schemes
BUSINESS PROMOTION SCHEME
BOP Quick Cash
BOP Car Loan
BOP House Loan
BOP SME Loan
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The Bank of Punjab
Lockers 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 reposi repositio tionin ning g of resour resources ces and active active market marketing ing to improv improvee Bank’s Bank’s profit profitabil abil
Commercial Banking will deal with customers having sales turnover and aggregate credit exposure as per benchmarks prescribed in the SBP’s Prudential Regulations.
This Group’s emphasis will be to meet necessary business needs of customers which
are numerous as compared to CIB clients but their individual credit requirements are
relatively much smaller. In view of this peculiar nature of this business segment tha invo involv lves es a high higher er turn turn over over a much much wide widerr netw networ ork k is need needed ed.. The The SME SME wi concentrate on rebuilding its set up which suits to its peculiar needs on all locations. CORPORATE & INVESTMENT BANKING Corporate Banking
The BOP Corporate Banking endeavors to market new clients and retain the existing
relationships and build market share by offering superior services, competitive pricing and wide product range to valued corporate clients including Public Sector Entitie
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etc. etc. BOP BOP has has work worked ed on some some of the the loca locall mark market ets’ s’ larg larges estt and and most most comp comp
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The Bank of Punjab
The The inve invest stme ment nt Bank Bankin ing g Grou Group p is entr entrus uste ted d with with the the prim primee respo respons nsib ibil ilit ity y
developing developing and executing executing investment investment banking banking strategy to enhance enhance and maximiz
shareholder value and customer confidence. IBG specializes in providing innovative
and unique advice to its clients to assist them in meeting challenges in an ever-
changing market. The team of qualified professionals operates under a strict risk
management framework, following best practices within their fields and continuously striving for excellence. Invest Investmen mentt Bankin Banking g Unit Unit offers offers full full spectru spectrum m of servic services, es, which which includ includee TFC Syndicated Finances, Structured Finances, Leveraged Buyouts, Project Finance,
QuasiQuasi-Equ Equity ity Produc Products, ts, Indepe Independe ndent nt Advice Advice,, Equit Equity y Placem Placements ents,, IPOs, IPOs, Equ Underwriting Underwriting,, Mergers, Mergers, Corporate Corporate Restructur Restructuring, ing, Acquisitio Acquisitions ns and other produ IBU also works on and come up with providing Fund Management Facilities CASH MANAGEMENT SERVICE
Cash Management is a process of collections & payments on behalf of the Customers using using the Bank Bank Networ Network.T k.The he object objective ive is to facili faciliate ate organi organizat zation ionss with with multip multip coll collect ectio ion n poin points ts in gath gather erin ing g Cash Cash / Fund Fundss and and maki making ng them them avai availa labl blee in
customer operating Account. Similarly it facilitates disbursement of frequent and o
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an automated system to provide timely and requisite MIS / Reconciliation unde
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You can also pay your bills by availing our drop box facility. Just drop your Cheque
along with bill at your branch and collect the receipt in the evening, evening, avoid the hastl of standing in queues and save your precious time BOP LOCKER
Discover peace of mind, enjoy personalized service and operate your locker in a friendly and pleasant environment at The Bank of Punjab.
Locker Size
Annual Fee
Small
Rs.1,200
Medium
Rs.1,800
Large
Rs.3,000
Extra Large
Rs.6,500
These are the other services provided by the BOP.
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The Bank of Punjab AUTOMATED TELLER MACHINHE
Through the ATM’s Customers have access to the various services such as
withdr withdrawa awal, l, balanc balancee enquir enquiry y and mini mini statem statement ent?? Comple Complete te securi security ty is ensure ensure
because access to the account is only possible by entering a four digit persona
identification number (PIN) known only to the account holder. Cash withdrawal limi is up to Rs.20, 000 per day. Annual charges of ATM is Rs.250/- per card.
ONLINE BANKING
BOP is curren currently tly offerin offering g window window-ba -based sed online online bankin banking g to its custom custom
which gives access to information on their accounts and the liability to act on th latest information received over the net.
LOCKERS
It is one of the utility services that BOP provides to their customers fo keeping jewellery, important documents and other valuables. Master your semester with Scribd Read Free Foron 30this Days Sign up to vote title & The New York Times Useful Not useful Special offer for students: Only $4.99/month.
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BOP is offering its business customers the widest range of option in the area
of money transfer. BOP’s letter of credit service is with competitive rates, security
and ease of transaction, BOP Letter of credit is the best way to do the business transactions.
PAY ORDER
BOP provides transfer of money using different facilities. Its pay orders are a
secure and easy way to move the money from one place to another. The charges fo this service are extremely competitive.
MAIL TRANSFER
Moves money safely and quickly from BOP Mail Transfer service. The rate for this service is quiet impressive as compare to the market.
DEBIT CARD
BOP Apna Cash Card is an ATM plus Debit Card.
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The Bank of Punjab •
Any Any nonnon-pe pers rson onal al accou account nt i.e. i.e. Comp Compan anie ies, s, Orga Organi nizat zatio ions ns,, Trus Trustt Acco Accoun un Government account and Collection account etc.
•
Dormant, inoperative, blocked or restricted accounts.
•
Accounts with “NIL” balance.
•
Term Deposit Accounts.
•
•
NIDF Accounts. (Non Interest Demand Finance Accounts)
Accounts requiring thumb / photo for operation (illiterate accounts) · ATM/Debi cards can only be issued on local currency accounts.
FINANCIAL ANALYSIS
To analyse the financial position of BOP, different tools are use, which includes Ratio Analysis, Common size Analysis of the last five years. Importance of Financial Analysis
IMPORTANCE OF FINANCIAL ANALYSIS
Master your semester with Scribd Financ FinTimes ancial ial analys analysis is involv involves es the use of & The New York
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Special offer for students: Only $4.99/month. statem statement ents s do several several things. things. First First the balance balance sheet sheet and the second second is incom incom
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The Bank of Punjab
BALANCE SHEET
2008 2007 (Rupees in ‘000)
Assets
Cash and balances with treasury banks Balances with other banks Lendin Lendin s to to financial financial institutio institutions ns Investments Advances O erat eratin in fixe fixed d asse assets ts Deferred tax assets Other assets
10,685,057 2,178,455 633,333 22,711,980 131,731,158 3,471,838 8,388,162 6,109,137
14,2
2,4 73,4 133,8 3,2
185,909,120
235,0
1,219,801 12,278,773 164,072,532
17,8 191,9
5,8
Liabilities
Bills payable Borro rrowin s De osits osits and and other other acco accoun unts ts Sub-ordinated loans Liabil Liabilitie itiess a ainst ainst asset assetss sub ect to finan finance ce lease lease Deferred tax liabilities Other liabilities
-30,632 -
2,2 3,0
4,564,257
Net Assets
182,165,995 3,743,125
216,0
5,287,974 7,427,232
4,2 7,4
18,9
Represented By
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3,743,125
3,4
15,1
3,8
18,9
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The Bank of Punjab
INCOME STATEMENT
2007
2008
(Rupees in ‘000)
Mark-up/return/interest expensed Net mark-up/ interest income Provision against non-performing loans and advances Provision for diminution in the value of investments Bad debts written off directly
17,752,969 16,614,000
17,5 13,9
1,138,969 18,863,580 366,387
3,5
19,229,967
Net mark-up/ interest income after provisions
(18,090,998)
Non Mark-up/interest Income Fee, commission and brokerage income Dividend income Inco Income me fro from m deali dealin n in for forei ei n curre currenc ncie iess Gain on on sale sale and redem tion of of securities securities Unrealized gain / (Loss) on revaluation of investments
577,630 2,020,896 324,328 733,787 -
Other income Total non-markup/interest income
526,185
Non Mark-up/interest Mark-up/interest Expenses Administrative expenses Provis Provision ion a ainst ainst other other assets assets Provision Provision a ainst off balance balance sheet items Other charges Total non-markup/interest expenses
Master your semester with Scribd Extra ordin ordinar ar /unusu /unusual al items items & The NewExtra York Times (Loss) / Profit Before Taxation Special offer for students: Only $4.99/month. Taxation - Current
4,182,826
5,4
(13,908,172)
7,1
2,799,933 10,101 114,700 2,924,734
(16,832,906) 4,8 Useful Not useful Cancel anytime. (16,832,906) 4,8 207,600
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The Bank of Punjab
FINANCIAL BUSINESS SUMMARY
2004
2005
2006
2007
2
Operating Results Markup/ return/ interest earned
Rs in m
2,555
6,125
11,579
17,539
17
Markup/ return/ interest expenses
Rs in m
719
2,669
7,509
13,939
16
Net markup income Non-markup based Income
Rs in m Rs in m
1,836 1,097
3,456 1,331
4,070 2,954
3,600 5,423
Non-markup based expenses
Rs in m
1,150
1,291
1,882
2,289
2
Provision against NPLs
Rs in m
47
331
374
1,888
18
Net profit before tax
Rs in m
1,736
3,165
4,769
4,846
Net profit after tax
Rs in m
1,368
2,353
3,804
4,446
Balance Sheet
Total Assets
Rs in m
66,320
Master Ayour semester with RScribd dvances (net) s in m 39,439 & The New York Times vestmentsOnly $4.99/month. Special offer forInstudents:
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16,198
111,154
164,855
234,974
63Read ,624 up 0For 1,3on 230 0 this 1title 33,894 Free Days Sign to1vote
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18
13 22
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RATIO ANALYSIS
Ratio analysis is used to calculate the profitability, liquidity/leverage etc. o the firm. From ratio analysis it is possible to predict future variances. Following ratios of BOP has been calculated:
Ratios
2004
2005
2006
2007
Gross spread ratio
%
72
56
35
21
Profit before tax to total income
%
59.19
66.11
67.89
53.71
Markup/ Interest cover ratio
times
5.08
2.79
1.94
1.65
Profit after tax to total income
%
46.65
49.16
54.16
49.27
Total assets turnover Return on avg total assets (after
times
0.06
0.07
0.09
0.1
tax)
%
2.49
2.65
2.76
2.22
Price earning ratio
times
7.25
10.23
7.71
9.31
EPS (Non dilutive)
Rs./share
9.08
10.01
13.14
10.51
Dividend per share
Rs./share
4
5 .2
3.25
3.5
Market value per share
Rs./share
65.9
102.45
101.25
97.8
Capital adequacy Ratio
%
12.83
12.78
10.09
9.69
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GROSS SPREAD RATIO
Gross spread ratio defines the total spread of interest between borrowing and
lendin lending.S g.Spre pread: ad: Differe Difference nce between between funded funded revenu revenuee as a percen percentag tagee of averag averag earning assets and the cost of funds as a percentage of average paying funds. The higher the spread the higher will be the profit margin. GSR= Rev/CGS GSR= (Mark-up earned – Mark-up Expense)/Mark-up earned GSR is 2nd highest all over the globe in Pakistan.
GSR of the bank is decreasing because of the decrease in margin, a SBP rise up the interest rates on the deposits.
%
80 70
72
60
56
50 40
% 35
30 21
20 10
6.42
0 2004
2 0 05
2 0 06
200 7
20 08
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%
100 50
59.19
66.11
67.89
53.71
0 -50
20 0 4
2 00 5
2006
2007
20 0 8
-100 % -150 -200 -250 -300
-316.29
-350
INTEREST COVERAGE RATIO
MP/Interest cover ratio= EBIT/Mark-up This ratio tells what percent of interest is covered from the total income of a firm or bank.It tells the ability of a bank to pay its mark-up to the depositors..
times
6 5
5.08
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1.94
1.65
1.32
times
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PROFIT AFTER TAX TO TOTAL INCOME
This ratio analysis tells profitability of a firm after paying all the taxes to tota income.
Profitability of BOP is increased because of decrease in the tax paid to the govt and of high spread ratio.
BOP negotiated their taxes with the government and only paid 20% tax in 2006 and only 8% in 2007 instead of 35%
%
100 50
46.65
49.16
54.16
49.27
0 -50
2004
20 0 5
2006
2007
20 0 8 %
-100 -150 -200
-189.03
-250
TOTAL ASSET TURNOVER Master your semester with Scribd Asset turnover= Net Income/ Total assets & The New York Times
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The Bank of Punjab times
0.14 0.12
0.12
0.1
0. 1 0.09
0.08 0.07 0.06
times
0.06
0.04 0.02 0 2 0 04
2 005
200 6
2 00 7
2 008
RETURN ON TOTAL ASSET
This ratio gives an idea of returning net profit generated by the bank in comparison with assets. Return on assets= Profit after tax / Total Assets
This ratio is decreasing in the last year because of decrease in Profit as expense
raised up.The decrease was mainly due to increased equity as a result of increase in
minimum capital requirements and additional provision due to withdrawal of benefi of FSV for most types of advances.
%
3
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2.49
2.65
2.76
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times
12 10.23
10 8
9.31 7.71
7.25
6 times 4 2 0 -2
2004
20 0 5
2006
200 7
-0.6 2008
EARNING PER SHARE
EPS = Net Income/ total shares Through this ratio it can be analyzed what percent of 1RS share is earned.
120 102.45
100
101.25
97.8
80 60
65.9 EPS
40
DIVIDEN VALUE
20 0 -20
9.08 4 20 0 4
13.14 3 . 25
10.01 5.2 2 00 5
2 006
10.51 3.5 2 00 7
11.5 0 2 00 8 -19.02
-40
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The Bank of Punjab C.A
14 12
12.83
12.78 10.09
10
9.69
8 C.A 6 4 2
1.92
0 2 004
2 00 5
2 00 6
2 00 7
2 00 8
ADVANCES & DEPOSITS
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SWOT ANALYSIS SWOT SW OT anal analys ysis is is an acro acrony nym m that that stan stands ds for for stre streng ngth ths, s, weak weakne ne
opportunities, and threats SWOT analysis is careful evaluation of an organization’s internal strengths and weakness as well as its environment opportunities and threats.
“SWOT analysis is a situational which includes strengths, weaknesses, opportunitie
and threats that affect organizational performance.” Master your semester with Scribd Read Free Foron 30this Days Sign up to vote title and threat “The overall evaluation of a company strengths, weaknesses, opportunities & The Newis York Times Useful Not useful called SWOT analysis Special offer for students: Only $4.99/month.
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competencies and weakness and external opportunities and threats. The goal is to then
develop good strategies and exploit opportunities and strengths neutralize threats and avoid weaknesses.
STRENGTH
•
The Bank officers of BOP are considered as one of the most able professionals in
the banking world. However, they have added some local flavour in accordance
with their targeted segmented. In my observation that they interact with thei
clients as if they are their personal friends and discuss about their problems as their own. •
As a result of the compassionate and personalized services of the officers, the
clients’ perception for BOP is very high. They have trust and feel themselves to be secure while dealing with BOP. •
BOP has opened all its branches at commercial areas so that the customers o clients face no problems in reaching to the bank.
•
BOP BOP has has got got a reli reliab able le and and easy easy to use use inte intern rnal al comp comput uter er syst system em.E .Eve ve info inform rmat atio ion n rega regard rdin ing g the the tran transa sact ctio ions ns in cust custom omer ers’ s’ depo deposi sits ts has has be computerized. Data are properly maintained.
•
Good security system
excellent but good facilities are given to employees Master your Not semester with Scribd Read Free Foron 30this Days Sign up to vote title & The New York Times Useful Not useful •
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The Bank of Punjab •
I observed during my internship that some of the employees were burdened with
over work. So I think that the work should be distributed according to their pos and capabilities. •
Biased selection of employees.
OPPORTUNITIES
•
Satisfy dynamic consumer needs, BOP has made significant in roads in its entire
service spectrum. A lot of products have been introduced especially in Retai
Banking (Agriculture side) and people are increasingly becoming loyal to the ban bank k and and beca becaus usee of feasi feasibl blee trans transact actio ions ns.. Opti Optimu mum m pric pricin ing g and and bran brandi di strategies of the bank are helping to make customer feel secure and convenient. •
All the opportunities of the 21st century are to be availed in the information
technology. Information technology is the future of this dynamic world. Therefore
BOP should emphasize much on IT, especially on E-Banking. Bank can design a universal account like other foreign banks, to enhance online facilities. •
BOP has introduced a number of financial schemes including special ‘Deposi Accounts’. These accounts have their unique features. During the last three years,
BOP deposits have been increasing @ 40%, which is a very healthy sign. Therefore
with the commencement of new schemes there can even be a greater increase in it deposits Master your semester with Scribd & The New York Times THREATS Special offer for students: Only $4.99/month.
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PEST analysis analysis of any industry industry investigate investigatess the important factors factors that affect ECONOMICAL industry industry and influence influence the companies companies operating operating in the sector. sector. PEST stands stands GDP • Political, Economic, Social and Technological analysis. The PEST Analysis is a too MONSOON • to analyze the forces that drive the industry and how those factors can influence th INFLATION • SAVINGS & • industry. ACCOUNTS AGRICULTURE • CREDIT INTEREST RATES • POLITICAL RAISING LIVING • STANDRED ECONOMICAL DISPOSABLE • SOCIO CULTURAL INCOME
TECHNOLOGICAL
SOCIOCULTUR •
•
•
•
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CHANGES IN LIFE STYLE LITERACY RATE DEMOGRAPH OF LARGE POPULATION SHIFT TOWARDS T NUCLEAR FAMILY
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POLITICAL •
•
•
•
GOVERNMEN T POLICY & BUDGECT BUDJECT MEASURES MONATORY POLICY FDI LIMIT
Organization
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political political advantage of a particular particularTECHNICAL party, the Government Government declares some measures t
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The Bank of Punjab FOCUS ON REGULATIONS OF GOVERNMENT
Government affects the performance of banking sector most by legislature and frami framing ng poli policy cy .gov .gover ernm nmen entt thro throug ugh h its its budg budget et affec affects ts the the bank bankin ing g activ activiti iti securit securitizat ization ion
act has given more more power power to bankin banking g sector sector against against default default
borrowers.
MONETARY POLICY
Bank Rate: The Bank Rate has been retained unchanged Repo Rate It has been reduced under under the Liquidity Adjustment Adjustment Facility (LAF)
Reverse Repo Rate : It has been reduced under LAF by 25 basis points from 3.5% to
3.25% with immediate effect. RBI has retained the option to conduct overnight or
longer term repo/reverse repo under the LAF depending on market conditions and other relevant factors.
FDI LIMIT
The move to increase Foreign Direct Investment FDI limits to 49 percent from
20 percent during the first quarter of this fiscal came as a welcom welcomee announcement announcement to
foreign players wanting to get a foot hold in the Indian Markets by investing in willing Indian partners who are starved of net
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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 money to the
agricultural agricultural sector and industrial industrial sector, therefore, therefore, booming booming the economy. economy. If the FD limits are relaxed, then more FDI are brought in India through banking channels GROWING ECONOMY / GDP
It is great news that today the service sector is contri contributin buting g more than half o
the Indian GDP. It takes PAKISTAN one step closer to the developed economies o
the wor world. ld. Earlier Earlier it was agricultu agriculture re whi which ch mai mainly nly con contri tribut buted ed to the GDP GDP.. Th
Pakistani government is still looking up to improve the GDP of the country and so several steps have been taken to boost the economy. Policies of FDI
LOW INTEREST RATES
SBP controls the Interest rate, which is based on several monetary policies
Recentl Recently y SBP has reduce reduced d the interest interest rate which stimulat stimulates es the growth growth rate o
banking industry. Call money rates (borrowing & lending) were in the range o
1.50/3.47 per cent as compared with 5.25/11.00 per cent on the corresponding date of last year
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commodity prices, decreasing crude prices and lowering interest rate, we expect tha Indian Economy could again register a robust growth rate in the year 2009-10
SAVINGS AND ACCOUNTS
As state stated d earli earlier er Paki Pakist stan an cont contin inue uess to remai remain n one one of the the high high savi savi
economies among the emerging market economies. Gross Domestic Savings (GDS of the the Paki Pakist stan an econ econom omy y cons consti titu tute tess savi saving ngss of publ public ic,, priv privat atee corp corpor orat atee
household household sectors. sectors. In the recent period the high growth performance performance of the Pakistan Pakista economy is driven by rise in savings
AGRICULTURE CREDIT
Agriculture has been the mainstay of our economy with 70% of our population
deriving their sustenance from it. In the recent past, the sector has recorded a growt
of about 4% per annum with substantial increase in plan allocations and capita
formation format ion in the sector. The target for agricu agriculture lture credit flow for the year 2009 2009-10 -10 i
being set at Rs.3,25,000 crore. To achieve this, I propose to continue the interes
subvention scheme for short term crop loans to farmers for loans upto Rs.3 lakh per
farmer at the interest rate of 7% per annum. For this year, the government shall pay an
additional subvention of 1% as an incentive to those farmers who repay their shor term crop loans on schedule
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Thes Thesee fact factor or are are chan changi ging ng cont contin inuo uous usly ly peop people le’s ’s life life styl style, e, thei theirr beha behavi vi
consumption pattern etc. is changing and also creating opportunities and threat for banking industry. There are some socio-culture factors that affect banking in Indi have been analyzed below.
SHIFT TOWARDS NUCLEAR FAMILY
Attitude of people of Pakistan is changing. Now, younger generation wants to remain separate from their parents after they get married. Joint families are breaki
up. There are many reasons behind behind that. But banking sector is positively positively affected by
this trend. A family need home consumer durables like freeze, washing machine
television, bike, car, etc. so, they demand for these products and borrow from banks
Recently there is boost in housing finance and vehicle loans. As they do not have money they go for installments. So, banks satisfy nuclear families wants.
CHANGE IN LIFE STYLE
Life style of Pakistan is changing rapidly. They are demanding high clas
products. They have become more advanced. People want everything car, mobile
etc.. what their fore father had dreamed for. Now teenagers also have mobile and
vehicle. Even middle class people also want to have well furnished home, television
mobile mobile,, vehicl vehiclee and this this has has opened opened opport opportuni unitie tiess for bankin banking g secter secter to tap thi
change. Every thing is available so it has become easy to purchase anything if you do Master your semester with Scribd Read Free Foron 30this Days Sign up to vote title have lump sum. & The NewnotYork Times Useful Not useful Special offer for students: Only $4.99/month.
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banks. Deposits showed a subdued growth during 2004-05.Income distributions also affects the operations and overall business of private sector banks.
LITERACY RATE
Lite Literac racy y rate rate in Paki Pakist stan an is very very low low comp compar ared ed to deve develo lope ped d coun countr tr
Illiterate people hesitate to transact with banks. So, this impacts negatively on banks
But there is positive side of this as well i.e. illiterate people trust more on banks to
deposit their money; they do not have market information. Opportunities in stocks or mutual funds. So, they look bank as their sole and safe alternative
TECHNOLOGICAL FACTORS
TECHNOLOGY IN BANKS
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 bank
as well as services that they cater to and the banks banks are enthusiast enthusiastically ically adopting adopting new technological innovations for devising new products and services.
ATM
The The late latest st devel evelo opmen pments ts in term termss of tech techno nolo log gy in comp comput uter er
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‘anytime, anywhere banking’ facilities. Automatic voice recorders now answer simple
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through telecommunication facilities and computer technology by using terminal
installed at customers home and they can make the balance inquiry, get the statemen of accounts, give instructions for fund transfers, etc.
IT SERVICES & MOBILE BANKING
Today banks are also using SMS and Internet as major tool of promotions and
giving great utility to its customers. For example SMS functions through simple tex
messages sent from your mobile. The messages are then recognized by the bank to
provi provide de you with with the requir required ed inform informati ation. on. All these these techno technolog logical ical change changess hav
forced forced the banker bankerss to adopt adopt custom customer-b er-base ased d approa approach ch instea instead d of produc product-b t-base ase
approa approach. ch. Techno Technolog logy y advanc advanceme ement nt has change changed d the face of tradit tradition ional al bankin bankin
systems. Technology advancement has offer 24X7 banking even giving faster and secured service.
CORE BANKING SOLUTIONS
It is the buzzword today and every bank is trying to adopt it is the centralize
banking platform through through which a bank can control its entire operation the adoptio of core banking solution will help bank to roll out new product and services.
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financial aspect is concerned there is no proper system is configured that’s why there
is always a risk of big frauds with in the bank. I during my internship also pointed out
that point but no one bothered. To me the bank should install some proper resource planning and controlling systems like other banks do i.e., oracle financials etc. PROFESSIONAL TRAINING
BOP staff lacks professionalism. They lack the necessary training to do the job
efficiently and properly. Although staff colleges are in all major cities of the Punjab
but they are not performing well. For this purpose these staff colleges should be reorganized and their syllabus should be made in such a way which can help th employee understand the ever-changing global economic scenario.
Banking council of Pakistan should also initiate some programs to equip the staff with much needed professional training. DELEGATION OF AUTHORITY
Employees of the bank should be given a task and authority and they should
be asked for their responsibility. The sense responsibility in employees mind is one of the most important factors in the success of any organization. PERFORMANCE APPRAISAL
During Internship I felt that there is no or very less appraisal of any ones coo
Master your semester with Scribd performance. The manager should strictly monitor the performance of every staf Read Free Foron 30this Days Sign up to vote title & The Newmember. YorkAll Times Not useful and result in of them should be awarded accordingtoUseful their performance Special offer for students: Only $4.99/month.
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the shape of bonuses to motivated and incite them to work more efficiently.
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The Bank of Punjab NEED OF QUALIFIED STAFF
Required, qualified staff should be provided to branch in order to improve the functioning of the branch. Especially a telephone operator should be appointed CREDIT CARD FACILITY
BOP should start its operation in credit card. These cards are very helpful fo
the ordinary customer in general and the business people in particular. To make i
mores secure and to eliminate the misuse of it, the management is required to keep proper security against the card. DECREASING ADMINISTRATIVE EXPENSE
Bank should decrease their administrative expenses. This was Rs 2.25 billion
in the year 2007. That can be done by lying off the surplus pool of employee with
golden hand shakes scheme. The branches that are not much used could also be closed. That will give positive results in the future SHOULD BE AGGRESSIVE IN CREDIT POLICY
As mentioned earlier, BOP is very conservative in advances and loans policy
It reduces the investment opportunities. Also loans should be given to the smal
businessmen and the other businesses on large scale like in agriculture sector at the
low mark-up rate. It should adopt flexible credit policy while giving credit to the agriculture sector.
Master your semester with Scribd TECHNOLOGICAL IMPROVEMENT Read Free Foron 30this Days Sign up to vote title & The New York Times Useful Not useful of BOP should be I would like to suggest that at least all the main branches Special offer for students: Only $4.99/month.
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fully computerized computerized in order to expedite expedite the dealing process among bankers and thei
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The Bank of Punjab STAFF RELATIOSHIP
Good relationship among staff member leads to the peak performances in any
organization. I observed that the staff relationship was normal other wise but some
time I noticed that there exists little conformity among the staff members. Anothe
syndrome from which the staff suffered was that all of them considered themselves more important than others. FAVOURITISM & NIPOTISM
In the branch during my internship I saw that when some of the employees are
transfer to other places, due to their relation with influential people and with top
management they can cancel their transfer in few weeks, when they are unsatisfied a that place.
So I suggest that in the organization there should be no favouritism, nepotism and politics and their transfer and promotion should be made on merit and according to
the rules and regulations of the bank and provided favourable environment to the employee to show their performances. MARKETING POLICY
The branch should adopt various marketing strategy and promotion strategy to promote the bank and its product.
The semester most important in my opinion is personal marketing; it is the most effective of al Master your with Scribd Read Free Foron 30this Days Sign up to vote title they you think in term of branch level. But on the whole organization level, & The Newwhen York Times Useful Not useful Cancel anytime.
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granted. Policies should be crafted in a way to ensure that no loan is extended on polit political ical pressu pressure. re. SBP regula regulatio tion n for loan loan approv approval al should should be strictl strictly y follow follow
According to which the current ration of borrower’s business must be 1:1 and the deb
to equity ratio should be 60:40, means the liquidity position of business should be healthy.
RECOMMENDATIONS FOR STUDENTS
In this section some recommendations for those students who are planning fo
an internship at BOP particularly and in any other bank generally. The most importan
of all is the difference between what we learn from the books i.e. the theory and what actually is done i.e. in practice. This difference is described in detail below:
WORKING IN DIFFERENT DEPARTMENTS
During my internship I observed that other internees in the bank use to stick
with one department only. An internee with specialization in Finance was of the view
that he should be in Finance department same was the case with other specialized Internees. But I would suggest that one must work in every department for some time
to gain a hand on experience of all the departments. As in real working environmen employee employee have to coordinate with other departments departments,, so he/she must know what th other departments operations are and how they work.
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RELATIONSHIP BETWEEN THEORY & PRACTISE
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worksheet is prepared like trial balance, but little differences, theory and practice ha
substantial relationship. The securities for the loans are handled in the same way a
theory says like mortgage, pledge, hypothecation, advances against insurance policies
or liquidation procedure is the same. The difference is there in the case of loans Theory talks about four or five terms of loans that is cash finance, overdraft, loans
etc., but in practice there are some more terms used like running finance, demand
finance etc. All other concepts of remittances, bills, foreign exchange deposits, letter
of credit are in accordance accordance with theory almost. almost. So for a internee internee it is more importan to learn new things which he/she has never heard about in his/her course book.
To me, Theory gives you the direction to understand the processes and the
terminologies going across the World using best business practices in a broader view
coveri covering ng each and every aspect aspect of possib possible le busine business ss scenar scenarios ios.. On the contrar contrar
practical life is specific, enclosed in a jar. In practical professionalism and firm’
environment environment is each and every thing. Professional Professional life only builds on the knowledg knowledg based on books even though it may only use 1% of the theoretical knowledge.
CONCLUSIONS
By analyzing the financial statements of the bank, I came across to know tha
it is one of the most growing bank in the subcontinent. Now they should carry on with
the present management which too k it from one of the ordinary bank to this level. No
doubt professionalism and internal controls of the bank are one of the major issue
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The Bank of Punjab MR. NAEEM
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