final report of prime bank
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Internship Report On Prime Commercial Bank LimitedPresented To: Madam Naila Hafeez Presented By: Nouman Saleem (011114)
All praises for Almighty Allah who is THE CREATOR of whole of the universe and admires to our Holy Prophet Muhammad (Peace be Upon Him) who taught us every thing of this life and the life thereafter. Now it is our responsibility to convey the WORDING OF SUCCESS to whole of the Ummah. As it was indicated in the last Address of our Holy Prophet (Peace be Upon Him). And the graves of FELLOW BEINGS are the proof of the completion of this responsibility. I am thankful to my respected internship coordinator Madam Naila Hafeez who gave me an opportunity to do my internship at Prime Commercial Bank Limited. I am thankful to MR.Anjum Saeed (Branch Manager), who allowed me to do internship in New Garden Town Branch. I am thankful to Mr.Abdi, Mr.Naveed, Mr.Akbar, Mr.Kamran, Mr.Waqar, Miss Qurrat and Miss Shazia, who helped me during my internship.
Executive Summary This Report on Prime Commercial Bank (PCBL) is based on observation and information gathered during six-week internship at its New Garden Town Branch Lahore. I did my internship from 1st October 2002 to 11th November 2002. This report contains various important aspects of internship learning. It contains the history of bank & history of New Garden Town Branch, various depts. industry analysis & internship assignment details. The history of bank includes its start, vision, mission, philosophy, branches, ethics, technology etc. Then the details of various depts. are given. These are Accounts Dept, Account Opening, Credit, Financial Services Dept etc. The industry Analysis includes SWOT Analysis, PEST Analysis, Life Cycle, Benchmark etc. Then next part of the report is about internship assignment that covers the description of the assignment and duties performed by me during my internship in different departments of the Bank i.e. Accounts Opening, Clearing, Accounts, Cash, etc. In finding and analysis section I discussed the things that I observed during my internship. In the end, recommendations and conclusion is given and copy of Internship Certificate is also attached.
Table of Contents
INTRODUCTION OF BANKS Banks are the financial institutions. Some authors say that the word bank is derived from the words BancusorBanque which means a bench. The explanation on of this origin is attributed to the fact that the Jews in Lombardy transacted the business of money exchange on the benches in the market place and when the business failed the banco was destroyed by the people. Incidentally the word Bankrupt is said to have been evolved from this practice. STATE BANK OF PAKISTAN It is the central bank of the country and was established on July 1, 1948. The state bank provides the policy guidelines and ensures that the money market operates on sound professional basis. Banks in Pakistan Major banks in Pakistan are as follows BANKS in PAKISTAN 1. Muslim Commercial Bank Limited http://www.mcb.com.pk 2. National Bank of Pakistan 3. United Bank Limited 4. Askari Commercial Bank Ltd. http://www.nbp.com.pk http://www.ubl.com.pk http://www.askaribank.com.pk
5. Prime Commercial Bank Ltd. http://www.primebankpk.com 6. Bank of Punjab http://www.punjabbank.com
7. ABN AMRO Pakistan 8. Allied Bank of Pakistan 9 Habib Bank Limited 10. Bank Alfalah 11. Union Bank Limited
http://www.abnamro.com.pk http://www.abl.com.pk http://www.habibbankltd.com http://www.bankalfalah.com http://www.unionbankpk.com http://www.picic.com/ Web site NA http://metrobank.com.pk/
12. PICIC Commercial Bank Limited 13. Platinum Commercial Bank Limited 14. Metropolitan Commercial Bank Ltd. 15. Soneri Bank Limited
16. Institute of Bankers Pakistan http://www.ibp.org.pk 17. Citi Bank Pakistan 18. Habib Bank AG Zurich 19. Emirates Bank PK 20. Bank Al Habib 21. Faysal Bank Ltd. http://www.citibank.com.pk http://www.habibbank.com http://www.emiratesbank.com.pk http://www.bankalhabib.com http://www.faysalbank.com.pk/ http://www.fwbl.com.pk http://www.bolanbank.com http://www.bankalfalah.com6
22. First Women Bank Limited. 23. Bolan Bank Limited 24. Bank Al-FalahInternship report
Prime Commercial Bank Limited History Prime Bank is the vision of a group of Pakistani professionals with extensive domestic and international banking and finance experience. They teamed up in 1992 with a select group of successful and like-minded business houses in Pakistan and overseas. Some of the foreign investors belong to a highly regarded, very sizeable and well-diversified business group of Saudi Arabia. During the initial years, Prime Banks strategy was focused on continuing improvement of internal procedures and operating structures, to ensure a greater control over the quality of its operations. Commercial Banking activities were initiated at the time of inception in 1992. During 1993, two more business divisions i.e. Corporate Banking and Financial Services were added. By 1996, Prime Banks countrywide network of seventeen Branches was in place and Consumer Banking activities were accordingly launched. Under the Banks on going branch expansion program fifteen new branches have been added during the years 2001 and 2002 while one more branch will open in December 2002. This would raise the total number of branches to thirty three focusing primarily on the middle market commercial banking segment while blending in the fast growing consumer banking market. Total Assets of Prime Bank during the period from June 1992 to September 2002 grew at an annual compound rate of about 36 percent to Rs.19.5 billion. Within this period, Shareholders Equity grew from Rs.300 million to Rs.1.5 billion, Deposits to Rs.13 billion and Advances (net) to Rs. 8.1 billion. Profit before tax
grew from Rs. 1 million for the half year to June 1992 to Rs.235 million for the nine months ended 30th September 2002. After ten years of well controlled, yet sure and successful operations, the Bank is now poised to move forward rapidly to be at the cutting edge of financial services combining highly efficient delivery systems with continuous product innovation. Therefore, development of superior Human Skills and the latest Information Technology platform are the cornerstones of Prime Banks overall strategy to be in the exclusive club of winning banks of the future.
Vision Prime Bank is a prominent Pakistani Bank, providing exceptional value to its customers, shareholders and employees. Prime Bank competes in selected market niches on the basis of superior service, innovation, specialized products and professionalism.
Business Philosophy The Bank is committed to be a sophisticated, prominent and professional institution, providing one window service to its customers. The Bank visualizes itself as a full service institution catering to the specialized needs of its niche markets. Prime Bank's activities primarily cover the provision of dedicated banking services to the commercial middle market segments of the economy, however, selective focus is also given to the corporate finance sector. Prime Bank's operating strategy is focused on continuous improvement of internal procedures and operating systems to ensure a better control on the quality of its business and operations.
Mission Statement Stronger banking relationships, increasing customer confidence.
This bird shows the tendency of Prime bank to try to fly above the sky and provide the best possible banking facilities to the customers. ETHICAL VALUES Every action of Prime Bank is taken by a set of well-defined values, governing our decisions. Bank commitment is to satisfy customers needs must be fulfilled within a professional and ethical framework. Prime Bank subscribes to a culture of high ethical standards, based upon development of right attitudes. Growth In this rapidly changing environment where customer needs are changing and their expectations are growing, technology is fast proliferating the distribution channels and now banking services can be accessed from multiple contact points. Prime bank believes that balanced growth is the key to survival in today's global banking environment. From a humble beginning with just a few branches in 1992, today Prime Bank has a network of 33 outlets, spread across the country.
The profits of the bank are ever increasing. Back in 1992,the deposits were 1.2 rs in billions, but in 2001,they were recorded at 10.4 rs in billions. Assets were only 2.1 rs in billions in 1992,but they were 14.5 rs in billions in 2001.Similarly there was increase in the advances given by the bank. So the bank is on the road of rapid growth. Technology at Prime Bank Technology is rapidly changing the way act and does business. It has played a key role in enhancing customer expectations, particularly with respect to speed and quality of service. Latest technology is available in the various branches of Prime Bank. The following technologies are available.
Telephones are provided to all employees Personal computer is provided to all employees Internet facility is provided to all employees Latest printers are provided to all employees
Branches of Prime Bank It has 33 branches in Pakistan. Lahore=9 branches Head Office 77 - Y, Phase III, Commercial Area, D.H.A. Egerton Road Gulberg D.H.A.
New Garden Town Allama Iqbal Town Circular Road Township Badami Bagh