21439291 internship report on mcb (repaired)
TRANSCRIPT
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INTERNSHIP REPORT ON
MCB BANK Limited
Internship Report submitted to the Faculty of Commerce &Accountancy in Partial
Fulfillment of the Requirements for the Degree of Mater in commerce
By:
Name of Student:Sana javaid
Roll Number: 12052054-045
Date of Submission:15 september 2013
UNIVERSITY OF GUJRAT
Name of program coordinator-----------------------------
Signature of program coordinator--------------------------
http://www.uog.edu.pk/index.http://www.uog.edu.pk/index. -
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2.ACKNOWLEGEMENT
All the praises are for the almighty Allah, the creator of universe, the most gracious &
merciful, and the source of all knowledge, wisdom within and beyond my comprehension.
Allah is the only, who can help us in every field of life. I bow my head before him who
enabled me to work on this report and helped me to complete this report successfully.
All praises after almighty Allah are due to holy prophet Hazrat Muhammad (Peace be
upon him), the most perfect exalted among, who & us is forever a torch of guidance and
knowledge for humanity as a whole.
Afterward, I am greatly indebted to my Parents and the instructor for providing me
excellent guidance to successfully complete my Internship report of National Bank of
Pakistan. I here by provided a golden opportunity to perform working activities at NBP for
a period of 6 weeks. The aforesaid occupancy bestow me precious moments to make
learning and get experience of the practice life with a successful approach. Soon after, I
am heartily grateful to Mr. Abdul baqi ,Branch Manager of the National Bank of Pakistan,
who confer me possibility to enhance my understanding and knowledge about the working
systems of NBP, which would ultimately useful for my future career and whose
cooperation enables me to compile this comprehensive report.
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S.NO TITLE
2 Acknowledgement
4 Executive summary
Chapter#1 Introduction
5.1.2 Histroy of MCB
5.1.3 Award of MCB
5.1.4 Business Volume5.1.5 Mission
5.1.6 Vision
5.1.7 General profile
5.1.8 Product &Services
5.1.9 Loan Product
5.2 Corporate Banking
5.2.1 Online Service
5.2.2 Virtual Banking
5.2.3 Islamic Banking
5.2.4 Pest Anaylisic
Chapter#2 Organization structure
6.1.1 Branch Network
6.1.2 Hierarchay of organization
6.1.3 Competitor of M.C.B
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4. EXECUTIVE SUMMARYThe banking structure in Pakistan comprises of the following types, State Bank of
Pakistan, Commercial Bank of Pakistan; Exchange Banks, Saving banks, Cooperative
banks, specialized credit institutions. The state bank of Pakistan is the Central bank of the
country and was established on July 01, 1948. The network of bank branches now covers a
very large segment of national economy. The State Bank of Pakistan issues the shares of
these periodically. Bank employees and other common peoples can also purchase these
shares and earn profit. MCB was incorporated under companies act 1913 on 9th
July;
1947.The bank transferred its registered office to Karachi, where the Head Office is
presently located.
In April 1991, MCB became Pakistans first privatized bank. The bank has corporate
branch at Shah rah-e-Faisal Karachi (SFK). The bank is using SWIFT for transfer of
information about imports and exports. MCB SFK branch has Currently Following three
Departments General Banking Department, Advances Department & Foreign Exchange
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Department. To open an account the customer has to meet the general banking manager
with an introducer. The procedure begins with the punching of account opening form to
the customer file i.e. customers master file. Before closing any account, bank send letter
to the account holder for informing him that his account is going to be closed.
In remittance department like any other bank MCB also have instruments for transferring
of money, Telegraphic Transfer, Mail Transfer. In cash department both deposits and
withdrawals go side by side. This department works under the accounts department and
deals with cash deposits and payments. This department maintains the following sheets,
books, and ledger of account cash received voucher sheet Cash paid voucher sheet,
Paying-in-slip, Cheque Book, Cash balance book. The clearing in Karachi at MCB or
other banks is being done through NIFT (National Institute of Facilitation Technology).
5
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5.1.1 INTRODUCTION
MCB is one of the leading banks of Pakistan with a deposit base of about Rs. 280 billion
and total assets of around Rs.300 billion. Incorporated in 1947, MCB soon earned the
reputation of a solid and conservative financial institution managed by expatriate
executives. In 1974, MCB was nationalized along with all other private sector banks
following the Bank Nationalization Act 1947.
The Bank has a customer base of approximately 4 million and a nationwide distribution
network of 1,700 branches, including Islamic banking branches, and ATMs.
During the last fifteen years, the Bank has concentrated on growth through improving
service quality, investment in technology and people, utilizing its extensive branch
network, developing a large and stable deposit base.
5.1.2.HISTORY AND BACKGROUNG
MCB Bank Limited (Formerly Muslim Commercial Bank Limited) has a solid foundation
of over 50 years in Pakistan, with a network of over 1700 branches.
Eighteen years after privatization, MCB is now in a consolidation stage designed to lock in
the gains made in recent years and prepare the groundwork for future growth. The bank
has restructured its asset portfolio and rationalized the cost structure in order to remain a
low cost producer.
MCB now focuses on three core businesses namely Corporate, Commercial and
Consumer Banking.Corporate clientele includes public sector companies as well as large
local and multinational concerns. MCB is also catering to the growing middle class by
providing new asset and liability products. MCB looks with confidence at year 2005 and
beyond, making strides towards fulfillment of its mission, "to become the preferred
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provider of quality financial services in the country with profitability and responsibility
and to be the best place to work".
5.1.3
MCB has become the only bank to receive the Euro money award for the seventh time and
Asia money award for fifth time in the last ten years .MCB won Best Banking Asia
award in 2008. MCB also won the "Best Bank in Pakistan" award in 2008, 2006, 2005,
2004, 2003, 2001, 2000. In addition, MCB also has the distinction of winning the Asia
Money award in 2009, 2008, 2006, 2005 & 2004 for being "The Best Domestic
Commercial Bank in Pakistan".
2010 The Asian Banker: Strongest Bank in Pakistan
2010 The Asian Banker: Leadership Achievement Award
2010 MMT: Best Bank Led MMT Service
2010 ICAP / ICMAP: BCR Award 2009-Banking Sector
2010 SAFA: Certificate of Merit Award
2009 Asia money: Best Domestic Bank in Pakistan
2009 The Asset: Best Domestic Bank in Pakistan
2008 Euro money: Best Bank in Asia
2008 Euro money: Best Bank in Pakistan
2008 Asia money: Best Domestic Bank in Pa
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Year 2010 2009 2008 2007 2006
Total Assets 1,035,025 944,583 817,758 762,194 635,133
Deposits 832,152 727,465 624,939 591,907 501,872
Advances 477,507 475,243 412,987 340,319 316,110
Investments 301,324 217,643 170,822 211,146 139,947
Share holders 'equity 103,762 94,142 81,367 69,271 53,045
Pre-tax Profit 24,415 21,300 23,001 28,061 26,311
After-Tax Profit 17,563 17,562 15,459 19,034 17,022
Earnings per Share Rs. 13.05 13.05 11.49 14.15 12.65
Number of Branches 1289 1,287 1,276 1,261 1,250
Number of employees 16457 16,248 15,441 14,079 14,019
(5.1.5)Mission:
To become the preferred provider of quality financial services in the country with
profitability and responsibility and to be the best place to work.
Mission Statement:
We are a team of committed professionals, providing innovative and efficient financial
solutions to create and nurture long-term relationships with our customers. In doing so, we
ensure that our shareholders can invest with confidence in us.
(5.1.6)Vision Statement:
To be the leading financial services provider, partnering with our customers for a more
prosperous and secure future.
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5.1.7GENERAL PROFILE
PRINCIPLES OF PERFORMANE
Customer Focus:
Over the years MCB has developed strong relationships with its customers by
understanding their needs and treating them with respect, dignity and importance.
The driving force behind its commitment and services is its focus on customers,
ensuring that it not only meets, but exceeds their expectations.
Quest for Quality:
MCB strives to achieve excellence by ensuring that every moment of our time is spent
in adding value, making sure that we do things right, first time, and every time. With
this quest for quality, MCB has always taken initiatives in bringing banking into a new
arena; from cash to the convenience of plastic; from branch banking to internet
banking and from face-to-face customer interaction to online accessibility.
Employees Respect:
MCB encourages diversity and treat each of our employees with fairness. MCB
gives constructive feedback for their continuous development and seek suggestions
from all employees for further improvement. The bank ensures that quality
performance is acknowledged and rewarded and exercise utmost responsibility in
decision-making with regards to our employees.
Team Based Approach:
MCB believes in achieving its Mission and Vision by working together as a
combined group. MCB treats its employees as its internal customers and ensure
that the requirements of internal customer focus are always met. Equipped with in-
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depth product knowledge, and recognizing the strengths in each individual, the
bank strives for optimum-results from our co-workers and bringing out peak
performances by working towards common goals and objectives in today's
dynamic banking environment.
Good Corporate Citizenship:
MCB seeks to continuously improve the quality of life in our communities. The
bank realizes that it has a responsibility to the society in which it operates and it
seeks ways of playing a positive role for the betterment of the community at large
for a progressive environment, better living and a brighter future.
( 5.1.8)PRODUCTS AND SERVIES
Commercial Banking
Deposit Accounts:
Basic Banking Account:
A simple account to produce the habit of saving for beginners like students. The
account can be opened with only Rs. 1000, no minimum balance required, no any
monthly or annual charges applicable on this account, two deposits and two
withdrawals can be made in a month. Also you can avail the facility of MCB ATM
card and MCB smart card.
Pak Rupee Current Account:
MCBs Pak Rupee Current Account offers you the convenience of unlimited
withdrawals i.e. access to your funds whenever you want without any notice. There
is no limit on the number of transactions you make in a day plus you can avail
finance facility up to 75% of the total deposit. In addition, you have access to a
countrywide ATM network convenient cash accessibility 24 hours a day. The
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facility also provides you with unlimited daily transactions with a limit on
maximum withdrawal amount through the ATM machines
Pak Rupee Savings Account:
MCBs Pak Rupee Savings Account offers you attractive returns on your Pak
Rupee investment with a minimum balance of Rs. 10,000.
In addition, you have access to a countrywide ATM network convenient cash
accessibility 24 hours a day. The facility also provides you with unlimited daily
transactions with a limit on maximum withdrawal amount through the ATM
machines. You can also use MCB Smart card and Locker Facility at economical
charges.
Pak Rupee Term Deposit:
MCB Pak Rupee Term Deposit gives a higher rate of return. It gives you choice of
1 month, 3 months, 6 months, 1 year, 2 years, 3 years, 4 years and 5 year term
deposits.Saving 365 The MCB Saving 365 calculates profits on a daily product
basis and gives you the facility of unlimited withdrawals.
Foreign Currency Savings Account:
MCBs Foreign Currency Savings Account offers you attractive returns on your
Foreign Currency investment. You can invest in any of the four currencies i.e. US
Dollar, UK Pound Sterling, Japanor Euro Your foreign currency account is
exempted from Zakat and withholding tax.
Foreign Currency Current Account:
MCBs Foreign Currency Current Account offers you the convenience of
unlimited withdrawals i.e. access to your funds whenever you want without any
notice. There is no limit on the number of transactions you make in a day.
MCB Foreign Currency Term Deposit:
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MCB Foreign Currency Term Deposit gives a higher rate of return. It gives the
choice of 1 month, 3 months, 6 months, 1 year, 2 years, 3 years, 4 years and 5 year
term deposits.
Smart Dollar Account:
The Dollar Khushali Account, a Dollar based account was introduced in 1993 at
selected MCB Bank branches. Today, you can open a Smart Dollar Account at
over 200 branches in Pakistan with a minimum amount of USD 10,000.
Business Account
With MCB Business Account you can avail higher number of free transactions
with higher balance. The account can be opened with Rs. 50,000. You can make
free Deposits and Withdrawals from all nation-wide branches.
(5.19)Loan Products:
MCB Business Sarmaya:
MCB Business Sarmaya is the best Running Finance facility against your
residential property which empowers you to manage your business dealings better.
So act today and get MCB Business Sarmaya and thus improve your business,
avail lucrative opportunities and expand your business, with absolute satisfaction
of cash flows.
MCB Car4u:Life is like a chess board. You plan your career options. You analyze your business
moves. But when you really want to improve your life, you make a power move.
MCB CAR4U Auto Finance is the power move that assists you in more ways than
you ever imagined. It is affordable, with lowest mark up 16%, flexible conditions,
easy processing and above all, no hidden costs.
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MCB Pyara Ghar:
Some destinations require a long wait. Like waiting for a home of your own. But
with MCB Pyara Ghar it is now easy to step into your home and start living a real
life.
MCB Pyara Ghar is an ideal Home Finance from your own bank that lets you
Purchase, Renovate or Construct your home the way you have always wanted.
Having your own home was never so easy.
Easy Personal Loan:
MCB Easy Personal Loan provides you with the financial advantage to do things
you've always wanted to but never had the sufficient funds for. Take that much-
needed holiday. Buy a car. Refurnish your house. Purchase a new TV. Finance a
better education for your children.
MCB Master Card:
Since the beginning of time, people have tried to find more convenient ways to
pay, from gold to paper money and checks. Today, money is moving away from
distinct hard currencies and towards universal payment products that transcend
national borders, time zones, and, with the Internet, even physical space. Plastic or
"virtual" money, credit, debit, and electronic cash products, inevitably will replace
cash and checks as the money of the future.
MCB Rupee Traveler's Checks:
MCB Rupee Traveler's Checks were first introduced in 1993 as safe cash for
traveling and travel related purposes. The product has been extremely popular and
is preferred over cash by customers while traveling and in all walks of life.
MCB Rupee Traveler's Checks- The safest way to carry Cash.
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5.2
Cash Management Services:
MCBs network of over 1700 branches in Pakistan enables it to collect and
disburse payments efficiently with its cash management services. This also enables
it to offer you a choice of paper based or electronic fund transfer solutions
including collection amounts, cross branch on-line transactions etc.
Working Capital Loans:
Based on the customers specific needs, the Corporate Bank offers a number of
different working capital financing facilities including Running Finance, Cash
Finance, Export Refinance, Pre-shipment and Post- shipment etc. Tailor- made
solutions are developed keeping in view the unique requirements of your business.
Term Loans:MCB offers Short to Medium Term Finance to meet capital expenditure and short
term working capital requirements of our customers. The loans are structured on
the basis of underlying project characteristics and cash flows of the business.
Trade Finance Services:
Under Corporate Banking MCB offers trade finance services that include an entire
range of import and export activities including issuing Letters of Credit (L/Cs),
purchasing export documents, providing guarantees and other support services.
5.2.1Online Services:
MCB ATM Services
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With a solid foundation of over 50 years in Pakistan, with more than 750
automated branches, 269 online branches, over 222 MCB ATMs in 41 cities
nationwide and a network of over 12 banks on the MNET ATM switch, MCB is
positioned at the forefront of the banking industry in Pakistan. This success has
been possible because of a never-ending drive to achieve higher levels of
excellence, constantly striving to raise the level of performance.
MCB Mobile Banking:
At the forefront of technological excellence, MCB proudly introduces MCB
MOBILE BANKING. The convenience of accessing your account balance
information and mini statements whenever you want or wherever you may need
them, with comfort and peace of mind.
MCB Call Center:
Keeping up with banking services can be tedious but not with MCB Bank, where
phone service is at your fingertips. Just dial our Call Centre from the comfort of
your home or office or wherever you happen to be. It offers basic banking services
for your convenience, eliminating the need for you to make unwanted trips to your
branch.
MCB Smart Card:
MCB now brings you MCB SmartCard -a secure and convenient instrument of
payment with unmatched functionalities. It provides 24-hour direct access to your
bank account.
The convenience and flexibility of MCB SmartCard will help you live a smarter
life. It not only helps you manage your expenses, but also eliminates undue interest
on your day to day credit card transactions. Your balance is always within your
reach and you spend accordingly.
MCB Debit Card:
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Now MCB brings a secure, convenient and quick payment facility that enables you
to do purchasing by using your existing MCB ATM / MCB Smart Card as a
DEBIT CARD.
5.2.2Virtual Banking:
MCB Virtual Internet Banking offers you the convenience to manage and control your
banking and financeswhen you want to, where you want to. MCBs Virtual Internet
Banking facility is simple and secure. And it is free of cost. With MCB Virtual Internet
Banking you can access any of the banking services, 24 hours a day, 7 days a week and
throughout the year.
MCB Virtual Internet Banking offers a wide range of online services which makes your
banking accessible anytime and from anywhere.
Detailed Account Summary of all listed accounts.
Mini-statements of each of the listed accounts showing recent transaction history
for that account(s).
Statement-by-Period of each of the listed accounts, based on the period specified.
Immediate or Scheduled Transfer of Funds between your own accounts, as well asto third-party accounts setup as beneficiaries, maintaining accounts with MCB.
Scheduling of One-Time as well as Recurring Funds Transfers.
Payment of utility bills for registered Utility Companies.
Immediate or Scheduled Bills Payment. Scheduling of One-Time as well as
Recurring bill payments. Option for Full or Partial payment based on the
payment conditions specified by a particular Utility Company.
Bulk Salary Transfer for Corporate Customers, to facilitate them in paying salary
to the corporate employees, who maintain accounts with MCB.
Bulk Funds Transfer for Corporate Customers.
Check Book Request for any of your listed accounts.
Payment/Transfer Alerts for reminding, in advance, prior to the processing of
specified payments and transfers.
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Personal Alerts for reminding of pre-specified events and occasions.
5.2.3Islamic Banking:
Deposit Schemes :
For customers who are looking for a deposit opportunity where they can purse their funds
and reap halal returns on it, we offer the following products:
Al-Makhraj Saving Account
Al-Makhraj Ianat Account
Al-Makhraj Term Deposit
Fund Based Facilities
Ijarah Products
MCBs Islamic Ijarah, analogous to the English term 'leasing, is based on the Ijarah wa
Iqtina concept which means the sale of the asset to the lessee after the Ijarah has matured.
Under this scheme, MCB will be the owner of the asset, and the customer (lessee) will be
given the asset to use for a certain period of time in return for monthly rental payments.
MCB will give a separate unilateral undertaking that it will offer to sell the asset to the
customer (lessee) at the maturity of the Ijarah agreement at a price that may be equal to thesecurity deposit amount, hence the term Wa Iqtina.
Types of Ijarah:
1. Car Ijarah
2. Equipment Ijarah
(5.2.4)
A broad view of market is important when management is interested in introducing better
services for customers. Rapid technological change, global competition and the diversity
of buyers preferences in many markets require the constant attention of the market
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vouchers to identify promises business opportunities, see the shifting requirements of the
buyers, evaluate changes in competitors positioning and guide the choice of which buyers
to target and classify them according to respective segments. Identification of external
and macro factors that influence buyers and thus change the size and composition of
market overtime involves initially building customer profiles. These influences include:
Political and legal environment
Economic trends
Socio cultural environment
Technological factors
POLI TICAL AND LEGAL ENVIRONMENT:Banks are strongly affected by the political and legal considerations. This environment is
composed of regulatory agencies and government law that influence and limit various
organizations and individuals. Mostly these laws create new opportunities for business.
Business legislation has following main purposes
o To protect banking companies from unfair competition.
o To protect consumers from unfair business practices adopted by banking
companies
o To protect the interest of the society from unbridled business behavior.
ECONOMIC TRENDS:A banking market requires better consumer market in volume along with higher borrowing
power. The available borrowing power depends on:
o Consumer income
o Saving rates
o Consumption patronso Rates of interest
o Budget deficit
o Exchange rates
o Cost of living
o Inflation
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SOCIO-CULTURAL ENVIRONMENT:A society is shaped by beliefs, norms and values. People in a society consciously and
unconsciously interact with:
Themselves
Others
Organization
Society
TECHNOLOGICAL FACTORS:
Forces of technological advancement have played the most dramatic role in shaping the
lives of people. The rate of change of technology has greatly affected the rate of growth of
economy. New technology is creating deep rooted affects which could be observed in long
run. The improvement techniques involved in on line banking. In brief PEST analysis
affects the overall banking companies and provides us the information about the external
macro condition.
Chapter#6
ORGANIZATIONAL STRUCTURE
Board of Directors
Mian Mohammad Mansha Chairman
Mr. S. M. Muneer Vice Chairman
Mr. Tariq Rafi Member
Mr. Shahzad Saleem Member
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Mr. Sarmad Amin Member
Dr. Muhammad Yaqub Member
Mian Raza Mansha Member
Dato' Mohammed Hussein Member
Mr. Aftab Ahmad Khan Member
Mr. Abdul Farid Bin Alias Member
Mian Umer Mansha Member
Mr. Muhammad Ali Zeb Member
Mr. Atif Bajwa President / CEO
6.1.1
Commercial Banking 971
Lahore East 61
Lahore West 72
Faisalabad 58
Gujranwala 83
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Islamabad 83
Sargodha 82
Peshawar 64
Abbottabad 82
Karachi East 51
Karachi West 42
Karachi Central 17
Hyderabad 58
Sukkur 52
Quetta 34
Bahawalpur 54
Multan 78
(6.1.2)Organizational H ierarchy
President
Senior executive vice president
Executive vice president
Senior Vice p resident
Vice president
Assistant Vice President
Grade 1
Grade 11
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Grade 111
Assistant
Clerical Staff Non-Clerical Staff1) Cashier 1) Messenger2) Technical Staff 2) Dispatch Rider
The Organizational chart within deptt. & in different offices.
Head Office Regional Office Zonal Office Branch
Divisional head Regional Head Zonal Head Branch Manager(SEVP) (EVP) (VP) (VP, AVP)
(6.1.3)MCBs Competitive Strategies
To be competitive the Bank has further reinforced its position in the Consumer Banking
arena by streamlining and re-launching the consumer financing products and introducing
more convenience based solutions. With the re-launch of auto finance and house finance
products, the Bank pushed the products with full thrust. The Bank has also launched a
running finance facility against mortgage of property.
Technology continued to play an important role in improving and expanding product
offerings.
The Bank introduced more IT based products to cater to the changing lifestyles and needs
of the customers.
MCB Virtual-Internet Banking was launched with wide ranging banking solutions for the
customers ranging from individual to corporate customers and it has become the most
preferred Internet banking solution in the country.
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MCB also had the privilege of being the first Bank in Pakistan to launch the
comprehensive bill payment facility through its alternate delivery channels which include
Internet Banking, ATMs and MCB Call Centre, currently with six payment partners.
Similarly, the Bank also took initiatives to increase the usage of debit facility. To provide
timely and updated information, MCB has also provided a new look to its website which is
user friendly and considerably easy to browse.
The Islamic Banking initiative has been very successful in attracting new customer, both
individuals and companies. Similarly, those relationships, which were confined only to
current account facility, have grown into stronger business relationships. The branch
network was expanded to Lahore and Multan during the last year and recently been
extended to Hyderabad and Faisalabad. The Bank plans to further expand its Islamic
Banking branch network to other metropolitan areas and also to introduce new sharia
compliant banking solutions to a wider range of customers for satisfying their individual
and business needs.
Some wide-ranging new strategic initiatives were also taken up which will be important
for the Bank in years to come. A private company has been formed in Hong Kong (fully
owned subsidiary of MCB) in partnership with Standard Chartered Bank, handling trade
transactions of select countries in the Asia-Pacific region. It is projected to earn US$ 1
million in its first year of operations. To increase its international presence, the Bank will
be opening its representative office in Dubai and entering into major strategic alliances
with banks in the UAE/ especially for marketing our consumer banking products to non-
resident Pakistanis.
Furthermore, feasibility is also being carried out for entering other international markets.
MCB's operations continued to be streamlined with focus on rationalization of expenses,
re-alignment of back-end processing to increase productivity, enhancement of customer
service standards, process efficiency and controls. The Bank has taken the lead in
introducing the innovative concept of centralizing Trade Services in the country by
providing centralized foreign trade services to branches with a view to improve efficiency,
expertise and reduce delivery cost.
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Management of Human Resources has been one of our core focus areas. MCB is
committed towards attracting, retaining and motivating outstanding people. Challenge for
MCB is to provide an environment in which employees can better realize their potential.
The Bank introduced 'reward for performance' where high potential officers were
identified and rewarded accordingly. In view of the competitive environment, the Bank is
focusing on performance and introducing a more robust performance management system.
MCB is also strongly committed to training its staff at all levels.
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The following activities have been done during the time period of internship. The
activities given below are on the weekly basis. Mainly during the internship I worked in
all the departments and learned the working and procedures that are necessary for the
processes.
(6.1)First week:
Observed basic business process
Observed movement of customers and Employees inside the Branch
Learned basics of Account Opening
Opened Accounts of GOVT employed persons
Opened PLS saving Accounts
Opened BBA accounts
Opened Student account
Worked as CSO(Customer Service Officer) because CSO was on leave and
performed the following activities:
o Attended phone calls
o Attended customer inquiries
o Received ATM forms
o Received and entered daily DAK
o Filled cheaque book requisition slips
In first week I observed the basic business process. At the end of each day I totaled the
electricity, water, telephone and check amounts. Mostly the total was correct. But
sometimes when the total does not match with the sheet of the PRINTING I had to do it
two or even three times.
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Process:
Account opening is the basic procedure to create a relationship between a customer and a
banker. When a customer opens his/her account it increases the business of the bank. The
following steps are taken while a new customer enters in a bank for opening his/her
account. These steps are;
When a customer wants to open an account the authorized officer gives him/her an
account opening form. This form is known as RELATIONSHIP CONTRACT FORM.
This form is filled out with the hands of the customers.
All the required fields that are mandatory for account opening should be filled
compulsory. These are the fields like title name of the customer, occupation, address of the
customer, phone nos, correspondence address, e-mail address, etc.
(a)requirements for opening an account for the individual;
In case of employed person
Copy of CNIC
Salary slip
A letter from employer Initial deposit of Rs.100 to 1000.
Photo copy of utility bill
In case of non employed person
Copy of CNIC
A letter from Dist. Nazam
Initial deposit of Rs.100 to 1000.
Photo copy of utility bill.
(b)requirements for opening an account for the partnership;
Copy of CNIC
Copy of CNIC of all the partners
Request letter of account opening
Company letter head
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Copy of registered certificate (if registered)
Signature specimen duly attested
Initial deposit may be from Rs.100 to 1000
In both cases there is some amount which is fixed for opening current and saving account
that is;
For opening current accountRs.10, 000 is required.
For saving accountRs.5000 is the limit.
After all these requirements, the authorized officer attaches two signature specimen
forms called SSC and one requisition form. On which the authorized officer put his/her
signature and pasted signature admitted and verified and bank stampon it.
Along with this form the copy of CNIC and a Verisys form and form known as (KYC)
is attached with it.
At the last a separate file is maintained for each of the customer for banks record.
Second week:In the second week of my internship I learned about Cheaque book, Debit card and Alico
products. Some details are as follows:
Learned About the Requisition request of Check for new Account
Learned about the issuance of new cheaque book.
Filled the ATM request forms
Learned how to issue the ATM cards
Learned how to issue the ATM Pins
Got basic information about Bank Assurance offered by Alico
Learned about various offers of Alico
Learned about the installments of assurance account
Learned about the Terms and conditions of Alico.
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(A) Process of getting the new Check Book.
After opening an account, a letter of thanksis sent to the customers
from the Circle Office after 2 or 3 days. After receiving that letter a
customer can obtain his/her check book from the bank. But while customer is coming to
the bank for receiving his/her check book this letter of thanks should be with him.
These are the following steps that are used for gaining check book:
The customer brings the letter of thanks and give to the authorized person. The person
fills the check book requisition slip for the customer and takes his signatures. Then the
authorized person saves that slip in his record and fills another slip and fwd to Karachi
via NIFT and customer is asked to come after 5 days.
After 5 days cheaque book is given to customer after taking his signature in a separate
register But in case if ;
(a)Customer is new than after taking letter of thanks check books would be hand
over to him/her.
(b)But in other case if customer is not new he is a regular customer than at the end
of each check book a requisition slip is attached. So whenever a new check
book would be needed the customer will put his/her signature on it and submit
it to the authorized officer.
(B) Process of getting an ATM/DEBIT card
The following steps are taken while issuing an ATM/DEBIT card. When an ATM or Debit
Cards issue, the following steps are needed:
A copy of CNIC
A minimum Rs.550 should be in respective account.
After filling up all the required documents for ATM card these documents are given to the
authorized person who pasted a verification stamp on these documents and signing on it.
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And at the end, after 5 days the person is called again to hand over ATM card after taking
his Signatures.
(c) Process of getting an ATM/DEBIT card Pin
When the customer is given ATM card he goes to another Person to get his/her secrete Pin
code. The person take the signatures and give it to customer. Then Customer goes to CSO
and activates his CARD.
Alico Products:
Alico offers various products for persons belonging to different age groups. The purpose is
to provide the insurance side by side with savings. Some of them are given below:
Income Max
Current Life Account
Capital Sure
Flexi Life
Har Pal Mehfooz
Life Partner
Dream Weddindg
Retire Easy
Edu Care
Third week:
The main objective is to know about the different functions of cash department. Cash
handling etc.. Although internees were not allowed in cash department because ofsensitivity of matter, they provide me maximum possible knowledge, and I spent few time
in cash.
Learned basic things about Cash department
Learned how to write Cash book
Signature verification
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Cash Deposit slips Processing
Intercity Cheaque Processing
Arranged an event to give Customers awareness about Alico
Made a list of Valued customers
Made invitation letters for customers
Arranged necessary items for the Event
Filled Cash deposit slips
Filled some cheaques for aged persons
Filled cash deposit slips for online Deposit
Process:
In Cash department customer after filling up the checks, bonds etc give it to the
authorized office. The following information are required for further preceding of the
check;
Name of the customer
Exact amount in words and figures
Code of currency
Date of the check
and signature of the Customer
After providing all the above mandatory places check is hand over to the relevant
person.
The authorized person after receiving Checks or bonds puts bank stamp on it
Checks the balance of the customer account.
Verify the signatures of customer
Then gives the cash to the customer.
Some impor tant things that must keep in mind whi le fi ll ing up a check:
a. The check should be enchased on that date which has to be written on the
check
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b. No cutting/overwriting is allowed
c. Signature should be matched with the ID card signature
d. On the back of the check there should be the sign of the issuer
I learned that how to accomplish different tasks like deposit, credit cards slips, and as well
as bonds. I also learned that how original Checks are identified.
Some impor tant things that must keep in mi nd whi le fi ll ing deposit slips:
a. No cutting/overwriting is allowed in amount
b. Amount should be same in words and figures
c. For online deposit a copy of CNIC of depositor is necessary
Fourth Week: Fourth week I spent in Remittance Department and learned following
things:
Learned basic operations of remittance department (PO, DD)
Learned how to make entries and vouchers of incoming TT
Made vouchers and entries for Incoming TT
Learned the difference between DD and PO
Observed other operations e.g. PO (Pay Order), DD (Demand Draft)
Learned bank charges for PO, DD, TT & MT (Mail Transfer)
Learned how to make entries and vouchers for Outgoing TT(Telegraphic Transfer)
Made few Outgoing TT
Learned & Made Inter-Branch Credit Advices against the checks received from
outer city branches
Learned how to make entries and vouchers for Outgoing TT(Telegraphic Transfer)
With these activities, also observed the other activities. The remittance officer also has to
pass the entry that is entered by the cashier. The cashier enters the amount of check and
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the check number. Then the remittance officer enters the password and passes the entry. If
the remittance officer is present on the seat then the operation manager has the authority to
pass the entry. It is actually based on the amount of the transaction. When the amount of
check exceeds a specific amount of Rs. 200000 the remittance officer has to pass that. And
when the amount increases to Rs. 500000 the operation manager has to pass that entry. To
open the customers account and to keep information of each of the customer separately so
that when information is needed can be obtained easily.
Learned basic operations of remittance department. Remittance department deals with the
foreign remittances. First of all the remittances are received in the post. Normally two
types of remittances come. One is credited to the accounts in our branch and the other is to
be given in cash to the holder of the XPIN. One advice is normally made for all the
advices that are to be credited to the accounts.
Then the relevant advices are made. In the advices, originating branch is Dharampura
Branch. PNSC Branch is written in the responding branch. The code for the originating
branch is 0992 and for the responding branch code is 0069. Current date is written in the
date field. The amount is written in the relevant fields in figures and in words. In the
favoring, we write the name, account numbers, DD numbers and the amount in front of
every beneficiary. Three copies are prepared for each advice. One advice goes to CSO for
record. One goes for cashier and one goes to the clearing department for entry in the
computer.
Fifth Week:
Learned how to Issue the CDR
Made vouchers and entries for CDR
Made few CDR
Learned how to manage CDR register
Learned payment against CDR
Balanced the CDR Head of GL for 31 July, 2009.
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Learned how to issue a PO
Made Debit vouchers against the PO & DD charges
Made Credit vouchers (contra) against the PO & DD charges
Learned how to make DD and PO
Made outgoing Clearing
Made local clearing
Made intercity clearing
Made return clearing
The Fifth week is from 3rdJuly, 2009 to 8thJuly, 2009. The main objective of this is to
know about the demand draft (DD), pay order (PO), and cash deposit receipt (CDR). To
know about these entire why all these documents are used. And how much charges have to
be paid for making all these.
(a) Procedure of making Demand Draft (DD) and Pay Order (PO):
Out of the city DDis used, DD is made through Check and Cash. Rs.50 is charged on cash
slip and in case of check slip Rs.220 is charged.POismade within a city. It is also in the
form of Cash and Check. Rs.50 is charged on cashand Rs.220 is charged on check slip.
If a regular customer wants to make DD or PO then in this case he/she has to fill
up a form. This form is known as FUNDS TRANSFER FROM;on making this
DD/PO Rs.50 is charged for making this in case of account holder but for non
account holder Rs.220 is charged.
In the form all the mandatory places are compulsory to fulfill. Like, currency of
instrument, type of remittance, beneficiary details, particular of applicant, applicant
signature etc. these are such requirements that must be fill up.
And at the last the authorized officer puts his/her signature on DD/PO form and
three stamps are pasted on it;
a. Transfer stamp
b. Signature verified stamp
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c. Crossing check stamp ( in case if half payment is made through cash form,
then a check is fill up for this and attached with the DD/PO form)
And at the last the operational manager puts supervision on this and all the records are
transferred into computer for bank records.
(b) Procedure of making of Cash Deposit Receipt (CDR):
CDRis used locally. It is also in from of Cash AND Check. CDR has no charges.
A request form is filled by the hands of the customer for making CDR. This form
is known as CREDIT DEPOSIT FORM.
In this form some requirements are compulsory which has to be full up these are
check no, the person name to whom it is going to be transferred, signature
specimen, date etc.
After all these the verification stamp, check transfer stamp, and signature verified
stamp is pasted on it.
And at the final stage, all the transactions are recorded in a register for keeping
banks records.
I learned that how DDs, CDRs and POs are made. And how many charges areapplied on it.
In this week I was a bit for remittances that are to be paid in cash, one advice is made for
each of the remittance. The person comes in the bank with the XPIN. He gives it to us.
With XPIN he gives the photocopy of the CNIC. One advice is made for him. Three
copies are prepared for each advice. One advice goes to CSO for record. One goes for
cashier and one goes to the clearing department for entry in the computer.
Procedure for outgoing clearing
I also madeout going clearing, for outgoing clearing a list I made an excel sheet of all bills
having depositing account number, amount and cheaque number then separated bills from
slips then posted various stemps on bills and slips as follows
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Clearing stamp of next date on front of bill
Accounts credited stamp on back of bill
Clearing stamp on front of deposit slip
Procedure for intercity Clearing
I also made intercity clearing. For Intercity Clearing a stamp of intercity posted on face of
bill, then amount, acct number and city name is entered in a separate register and deposit
slip is attached in a specific file. And a stamp is posted on back of bill. A separate slip is
filled for every city given by NIFT. In the specified envelope is used for every city given
by NIFT with printed name of city.
Sixth week:
(FINANCE,PUBIC DEALING, TDR)
Learned about dormant account.
Learned about the activation of dormant account
Learned about TDR Learned how to make TDR
Learned basic types of financing
Studied a Running Finance Case
Learned about instant finance
Learned about the different documents required for Credit Investigation
Studied Financial statements of a client company
Learned about the documents required for Running Finance Learned the Concepts of Demand and Cash Finance
To become familiar that how a customer account change into dormant account.
Process:
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An account is closed when a customer does not make any transaction in his/her account
till 90 days.
A letter is send to customer to inform him/her, and in case if bank does not receive any
response from customers side then the account of customer becomesDORMANT,
after that a customer cannot make any DR or Cr transaction in his/her account.
But in case if a customer draws a check in dormant account then it is returned back from
the clearing department with a stamp of dormant account.
After that customer cannot make any type of transaction in his/her account.
Procedure for activation of a dormant account:
a. The customer has to given a written request for activation of the account.
b. Copy of CNIC.
c. And a Debit transaction on the same day is made.
After working in this area I learned that what things are compulsory to running an account
and how we can avoid the dormant account.
TDR (Term deposit receipt):
Procedure:
TDR may be issued for 2 months or 3 months but calculation is made on daily basis.
A term deposit receipt has to be filled for TDR on which the following mandatoryplaces
have to be fulfilled:
Received form
Amount
Deposit period Amount in figures
And account number
After the whole information is recorded into the computer system.
And prepare TDR is given to the customer.
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Seventh Week:
Made GL(general Ledger)analysis
Analyze different heads of Assets, Liabilities, Income, and Expenses.
Made Annual Expanses increase Analysis
Filled Credit Proposalcum Sanction Advice MCB Instant Financing, BBFS
(Borrower Basic Fact Sheet) and Application for Finance for renewal of 3 cases of
CF.
Studied credit proposals.
Studied Credit Scoring and Risk Rating for the clients
Studied classification of customers in the categories
Substandard
Doubtful
Loss
In the last week of my Internship Manager offered me to learn something of managerial
level which I accepted happily. So manager gave me data and asked to analyze the
difference of expenses of July 2008 and July 2009 because there was a major increase inExpanse account. So I analyze different sub account and separate 6 accounts showing
major increase, I also separated 6 accounts which were showing major decrease.
Onl ine transactions and Lockers
Objective:
The objective is to learn about the money grams how they make? And to know about the
lockers and as well as to get knowledge that how online transactions are done.
(a)ONLINE TRANSACTIONS
Procedure:
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In on line transaction the process is so simple in this the client receives a request form
from the customer for online transactions. In such case customer presence is not
compulsory. In this the following requirements are necessary to keep in mind. These are:
Sender name,
Customer account number,
Bank and branch name,
Check no,
Beneficiary branch no,
Total deposit and date.
An online check is received form customer along with the print out of a voucher is
attached with the check. And three stamps are pasted on it, these are;
Clearing Stamp
Intercity stamp
Transfer Stamp
And then in the last entry of an online check is recorded in the register for
maintaining bank records.
(b) LOCKERS
Procedure:
whenever a new customer wants to operate locker he/she signs on a SSC card. And a
separate register is maintained for thispurpose.
and after that whenever customer wants to operate the locker than the authorized person
takes the customer signature on the maintained register. And these signatures are matched
with the SSC card signatures.
only relevant customer is allowed to operate.
Learning:
After working in this area I learned what money gram is and why it is used for? And as
well as I also learned about the online transactions and the procedure used for lockers.
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MCB Limited is one of the most thriving commercial banks at present in Pakistan. The
organization is in the process of building itself into a force to consider. The bank is doing
all sorts of new things in order to accumulate a set of distincti ve competenciesthat could
later on be transformed into a competitive advantage of considerable value. In this process
of developing, striving, facing minor set backs and striving with even more zeal, the bankenjoys some strengths, needs to improve upon some weaknesses, can exploit some
opportunities and is hampered by few threats.
This SWOT analysis of MCB Limited takes into consideration the external as well as the
internal environmental structure of the bank.
Strengths:The predominant strengths of MCB Limited are
Humble Management
Strength And Commitment Of Sponsors Efficiency
Phenomenal Growth
Vastly Experienced Management
Highly Professional Human Resource Department
Crucial Location Of Branches
Good reputation
Strong branch network
Trained, Skilled & cooperative employees
Faster banking services
Reasonable service charges Personnel of MCB are well trained and highly skilled. Majority of employees has
many years of experience in banking sector and are an asset for the bank
MCB has a wide network of branches at the ideal locations, catering the financial
needs of its clients
Foreign Trade is the focus of bank. It has become an ideal bank for the importers
and exporters
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Strong Security System
Weaknesses: The chief weaknesses are
Small Size
Less Efficient Computer And I. T. System
Disproportionate Presence Of Old Staff In The Upper Management Hierarchy
Skill Set Of Employees Is Not Up to The Mark As There Is No Job Rotation
Foreign Banks Still Are A Little More Prestigious
MCB Limited Does Not Possess Foreign Network
No Advertising In Electronic Media
Behavior towards customer
Insufficient advertisement Inefficient HR policies
Mismanagement of time
Overloading of work on employees
Outdated software
It is a step behind in using new technology as compared to other banks
Most of the employees are overloaded with work. There is uneven distribution of
work and promotions are not very timely
It is slow in the introduction of new services
High cost of production
Opportunities:
The opportunities on which MCB can capitalize upon are
Extension of local branch network
Establishing foreign branch network
Capitalizing on information technology
Effect of Privatization
Emphasis on information technology
Branch network To be in the list of top banks
Marketing
Unexplored market of multinational corporations
Growth in textile sector
Adopt E-banking
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Thearts:
The predominant threats MCB is facing at the moment are discussed in the following
lines.
Private sector banks
Government policies
Increased competition in banking market
Unstable economic situation
Network expansion by foreign banks
If Pakistani banks (especially state owned banks), backed by huge networkimprove the service they give and their employee skill set
Terrorist image of the country
Inconsistency in government policies
Ratio Analysis of the MCB:An index that relates two accounting numbers and is obtained by dividing one
number by otherRatio Analysis is an important and age-old technique of financial
analysis. It simplifies the comprehension of financial statements. Ratios tell the whole
story of changes in the financial condition of business. It provides data fro inter firm
comparison. They also reveal strong firms and weak firms, over- valued and undervalued
firms. Ratio analysis also makes possible comparison of the performance of different
divisions of the firm. The ratios are helpful in decision about their efficiency of otherwise
in the past and likely performance in future. Ratios also help in Investment decisions in
the investors and lending decisions in the case of bankersetc.Following are the main types
of ratios that I am going to calculate in this report to compare and highlight the financial
performance of MCB in 2009 with 2008.
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FINANCIAL RATIOS 2009 2008
Profit before tax ratio
(PBT/ total income)
55.91% 63.80%
Gross Spread (NIM/Int
Income)
69.31% 71.13%
Income/ expense ratio Times 3.84 4.10
Return on average
equity (ROE)
27.35% 31.49%
Return on average assets
(ROA)
3.25% 3.60%
Return on Capital
Employed (ROCE)
27.35% 31.49%
Earnings per share (EPS
before tax)
Rs. 33.50 31.64
Earnings per share (EPS
after tax)
Rs. 22.42 22.25
Advances/ deposits ratio
(Gross)
73.37% 82.64%
Advances/ deposits ratio
(Net)
68.89% 79.39%
Breakup value per share Rs. 88.37 75.60
Breakup value per share
(including surplus)
Rs. 100.91 84.55
Earning assets to total
assets ratio
87.23% 85.70%
Capital Adequacy Ratio 19.07% 16.28%
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RecommendationsIn the light of above given SWOT analysis, in the following lines I shall put forth some ofthe measures MCB Limited should necessarily take in the near future. The followingrecommendations include short term as well as long-term issues.
MCB Limited should continue to expand its business, by increasing its deposit portfolio
through aggressive market penetration strategies.
MCB Limited needs to use more marketing channels to make the public aware of its
products and services. In the presence of intense competition MCB Limited has to realize
the importance of marketing.
MCB Limited should immediately improve its Information Technology System. The soft
wares currently in use should be made error free.
Management should distribute work equally among different employees. Some of theemployees are overburdened while some sections are overstaffed.
There are a disproportionate number of seasoned bankers in the top management who
have the responsibility of making strategic decisions. They should also include a
reasonable proportion of young bankers whose mindsets teem with new creative ideas,
which might prove to be invaluable for MCB Limited.
One of the most pressing needs of the time is to advertise MCB Limited in the electronic
media. MCB Limited has not, till date, employed advertisement in electronic media as a
full fledge marketing tool. I think it is high time that BAL does this.
MCB Limited needs to improve its website. More information relating to financial
performance of the bank should be available on the website.
MCB Limited should evolve a very serious management policy to attract multinational
corporations as its clients. This action, if actualized, would not only prove to be highly
profit generating, but it would also contribute a lot towards MCB Limiteds image
building.
The number of women hired by MCB Limited is very less. MCB Limited should employ
more women. Moreover it should also recruit women for working in Credits
Presently, like most of the commercial banks working in Pakistan, a high percentage of
Bank MCB credit client hail from two or three industrial sectors.
MCB should make makes work teams in Credits like other banks such as ABN AMRO
and City Bank. It will have a positive impact on the morale of employees. Their
performance will improve as a result of distribution of work and responsibility. And it
will also enable the bank to hire talented women in the Credits as well.
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Conclusion:
Practical Training Program, spanning across twelve weeks, does a world of good
for the students, as it enables them to have a glance into the organization, which they plan
to join in the near future as managers. At this point it certainly is significant to write a
word of gratitude for the institutes administration, which makes it sure, that all the
students get an exposure to practical life in relatively well-reputed organizations.I must
underscore the fact that writing this internship report was an evenly memorable experience
as actually doing the internship. I honestly tried my level best to come up with an
original piece of writing that could serve as a vivid proof of the fact that students at UOG
are certainly no mug at what they do. I truly hope that this report also certifies the fact that
all of my worthy teachers performed their duties of academic guidance and moral
mentoring with utmost efficiency and effectiveness. It is evident from this report
and the financial statements of MCB that it is making progress by leaps and bounds. The
profits of MCB have grown considerably during the last few years and this trend is
expected to continue into the future. Therefore, we conclude that MCB has a very
prosperous present and future, which assures the shareholders of wealth
maximization.Side by side of it I think that if bank would be able to cover and control on
the above mentioned recommendations then it would be in such a situation that will really
lead it towards the road of prosperity, development and integrity. And with the above
mentioned sentences I think there is also a fault of the customers and in order to make the
proper working of the bank the customers should also cooperate with the bank which will
be really a good, ambitious and diligent condition for the bank. And then bank will be
really in such a situation and position to compete its competitors in the country as well as
on international level.I hope that this report enables me to keep a memory of those days at
the Bank when after a few years I read this report.
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References
Introduction: http://mcb.com.pk/mcb/about_mcb.asp
Vision / Mission:http://mcb.com.pk/mcb/mission_vision.asp
Corporate information: http://mcb.com.pk/mcb/corporate_information.as
Internship Activities:
PBO (Mr., Sajid)BOM (Mr. Yasir)CSO (Miss sane)
Remittance (Miss Amana)
Financial Statement: Google.com.pk
Ratios: Analysis of Financial Statement by Charles. P. Jones
http://mcb.com.pk/mcb/about_mcb.asphttp://mcb.com.pk/mcb/mission_vision.asphttp://mcb.com.pk/mcb/mission_vision.asphttp://mcb.com.pk/mcb/about_mcb.asp -
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