internship report on punjab bank, pakistan
DESCRIPTION
The Bank of PunjabVision“To be a customer focused bank with service excellence.”Mission“To exceed the expectations of our stakeholders by leveraging our relationship with the Government of Punjab and delivering a complete range of professional solutions with a focus on programmed driven products & services in the Agriculture and Middle Tier Markets through a motivated team”Introduction Established in 1989, in pursuance of The Bank of Punjab Act 1989 and was given the status of scheduled bank in 1994. The Bank of Punjab is working as a scheduled commercial bank with its network of 273 branches at all major business centers in the country. The Bank provides all types of banking services such as Deposit in Local Currency, Client Deposit in Foreign Currency, Remittances, and Advances to Business, Trade, Industry and Agriculture A wholly owned subsidiary of BOP First Punjab Modaraba (FPM) was established in 1992 and is being managed by Punjab Modaraba Services (Pvt) Ltd. Lending under Islamic mode of finance, main vehicles are Morabaha, Ijarah & Musharika to encompass requirements of corporate, commercial and individual customers. Liability generation through COM’s (Certificate of Musharika) offers attractive returns to individuals and institutional depositors for fixed tenure instruments. FPM is working to introduce new and innovative products to enhance its range of services. The Bank of Punjab. BOP which is also known as the Bank of Punjab this is the best bank regarding the customer point of view. The Bank of Punjab (BOP) is only the bank that’s modifies its products and services regarding the Customers of The Bank of Punjab (BOP). Customer is always true and your totally business is depend upon the Customer. Customer is satisfied you can imagine that Business is growing. The Bank of Punjab (BOP) works for to exceed the expectations of our stakeholders by leveraging our relationship with the Government of Punjab and delivering a complete range of professional solutions with a focus on programme driven products & services in the Agriculture and Middle Tier Markets through a motivated team.TRANSCRIPT
Internship Report
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 shall continue to
function in the Pakistan territory until 30th September 1948 and that Indian notes would continue
to be legal tender at Pakistan until 30th September 1948. Unfortunately, relationship between the
two countries became most strained immediately after independence; banking was mostly in the
lands of Hindus who immediately started transferring their offices and assets into India. As a
result most of the banks in Pakistan were closed down and even those which were open were not
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 government of Pakistan, no heady way could
be made on this behalf and reserve bank of India was in no mood to help the new country.
Imperial bank of India, agent of the reserve bank of India also started closing down its branches
in Pakistan.
Banks in Pakistan
Public sector commercial banks
National bank of Pakistan
First women bank limited
The bank of Khyber
The bank of Punjab
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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
Barclays Bank
Standard Chartered Bank
Specialized Banks
Zari Tarqiati Bank Ltd.
Industrial Development Bank of Pakistan
Punjab Provincial Cooperative Bank limited
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The Bank of Punjab
Vision
“To be a customer focused bank with service excellence.”
Mission
“To exceed the expectations of our stakeholders by leveraging our relationship with the
Government of Punjab and delivering a complete range of professional solutions with a focus on
programmed driven products & services in the Agriculture and Middle Tier Markets through a
motivated team”
Introduction
Established in 1989, in pursuance of The Bank of Punjab Act 1989 and was given the
status of scheduled bank in 1994. The Bank of Punjab is working as a scheduled commercial
bank with its network of 273 branches at all major business centers in the country. The Bank
provides all types of banking services such as Deposit in Local Currency, Client Deposit in
Foreign Currency, Remittances, and Advances to Business, Trade, Industry and Agriculture A
wholly owned subsidiary of BOP First Punjab Modaraba (FPM) was established in 1992 and
is being managed by Punjab Modaraba Services (Pvt) Ltd.
Lending under Islamic mode of finance, main vehicles are Morabaha, Ijarah & Musharika
to encompass requirements of corporate, commercial and individual customers.
Liability generation through COM’s (Certificate of Musharika) offers attractive returns to
individuals and institutional depositors for fixed tenure instruments. FPM is working to introduce
new and innovative products to enhance its
range of services.
The Bank of Punjab. BOP which is also known as the Bank of Punjab this is the best
bank regarding the customer point of view. The Bank of Punjab (BOP) is only the bank that’s
modifies its products and services regarding the Customers of The Bank of Punjab (BOP).
Customer is always true and your totally business is depend upon the Customer. Customer is
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satisfied you can imagine that Business is growing. The Bank of Punjab (BOP) works for to
exceed the expectations of our stakeholders by leveraging our relationship with the Government
of Punjab and delivering a complete range of professional solutions with a focus on programme
driven products & services in the Agriculture and Middle Tier Markets through a motivated
team.
AWARDS AND ACHIEVEMENTS
The bank of Punjab is performing excellently in the banking sector and also playing a
vital role in the economy for which it has be awarded with many awards. Some of them are as
follow:
Excellence Award by the Central Board of Revenue
The Central Board of Revenue presented "Excellence Award" to the Bank of Punjab in
recognition of the contribution made by the bank towards Government exchequer.
3rd Kissan Time Awards
In recognition of Bank's contribution in development and growth of agricultural sector,
the Bank honored with "Top Bank for Agriculture Loans" and "Best Bank Crop Insurance" under
3rd Kissan Time Awards year 2006.
Best Corporate Report Award
Annual Report of the Bank for the year 2005 won 5th position for "The Best Corporate
Report Award" for the financial sector, adjudicated jointly by the Institute of Chartered
Accountants of Pakistan and the Institute of Cost and Management Accountants of Pakistan.
16th Bolan Excellence Award
The Bank was awarded Best Bank Award under 15th Bolan Excellence Awards
distributed in 2006.
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Branches network
Regional network of branches
Lahore Central-I Region Multan Region
Lahore Central-II Region Faisalabad Region
Lahore North Region Gujranwala Region
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Lahore South Region Gujrat Region
Peshawar Region Bahawalpur Region
Islamabad Region D.G. Khan Region
Rawalpindi Region Jhelum Region
Sialkot Region Sheikhupura Region
Bahawalnagar Region Sahiwal Region
Jhang Region Khushab Region
Karachi Region
ProductsThe main products offered by the bank are as followed and categorized according to their
nature and category.
Deposit Products
Current Accounts
BOP Basic Banking Account
BOP Tijarat Account (LCY)
BOP FCY Supreme Current Account
Profit Loss Sharing Term Accounts
BOP Pehlay Munafa Scheme
Corporate Premier Term Account
Munafa Hi Munafa Term Account - III
Bai Misaal Term Deposit Account
Profit Loss Sharing Chequing Accounts
PLS Saving Account
Senior Citizens Saving Account
Gharayloo Saving Account
Ziada Munafa saving Account
PLS-Saving Profit Plus Account
Corporate Premier Account
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BOP PLS Supreme Saving Account
Commercial Finance
Running Finance
Demand Finance
Cash Finance
CNG Filling Station Scheme
Auto Lease Financing Scheme
Car Dealers Financing scheme
Karobar Barhao Scheme
Fertilizer Dealers Financing Scheme
Ali Akbar Group - Franchise Financing Scheme
Atlas honda Limited - Authorized Dealers Financing Scheme
Financing Scheme - Purchase of Office/Shops
Consumer Finance
Quick cash
Car Loan
House Loan
Smart Cash Personal Loan
BOP Motorcycle Loan
Agriculture Credit
The products offered by the Punjab bank for the agriculture sector are much more than any
other bank except specialized agriculture banks:
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
Kissan Dost Mechanization Support Scheme
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Kissan Dost Farm Transport Scheme
Kissan Dost Eslah-E-Arazi Scheme
Kissan Dost Live Stock Development Scheme
Livestock Breed Improvement Trough VVW
Kissan Dost Commercial Agro Services
Kissan Dost Agri Mall Finance Scheme
Corporate Farming Finance Scheme
Commercial Lease Finance Tractor Scheme
Demand Finance-Sheds Construction and Civil Works
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
Services
The major services offered by the bank are as follow and categorized according to their
functions and category.
1. Commercial Banking
2. Corporate & Investment
3. Cash Management Services
4. Utility Bills
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5. Lockers
6. Treasury
7. Trade Finance
Trade Processing Centers
Functions of Trade Processing Centers
Functions of Trade Processing Centers
Hierarchy of the Bank
President
Group Head
4 Heads
Regional Chief
Area Manager
Branch Manager
Manager Operations
Working of the Bank’s Departments (Products)
DEPOSIT DEPARTMENT
In modern times very few business enterprises are carried out solely with the capital of
the owners. Borrowing funds from different sources has becomes an 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 than their own capital. Banks borrowing is mostly in the form
of deposits.
These deposits are lent out to different parties. The larger the difference between the rate
at which the deposits are borrowed and the rate at which they is lent out the greater of the profit
margin of the bank. Furthermore, the larger the deposit the larger will be the funds available for
employment; larger the funds lent out the greater will be the profit of the bank.
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To receive the deposit is the basic function of all commercial banks. The bank does not
receive these deposits for save keeping purpose only, but they accept deposits as debts. When
banks receive deposit from a customer, the relationship of a debtor and creditor is established
where by the customer become the creditor and the bank a debtor. When the bank receives
amount of deposit as a debtor, it becomes the owner of it. It may, therefore use it as deems
appropriate. But there is an implicit 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 different 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 conditions that will not be payable on demand but will
be payable under fixed or determinate future time date.
Saving Deposit
This type of accounts is one step towards the Islamization of banking system in Pakistan.
There are two types of PLS Accounts.
1. PLS Saving Account
2. PLS-TDR (Profit & Loss Sharing Term Deposit Receipts).
PLS saving accounts can be opened with the minimum sum of Rs. 100 and PLS-TDR
account can be opened for a sum of Rs. 1000 or above. Profit is paid on both types of the PLS
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account on half yearly basis. 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
invest 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 deposit 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 banker 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 short period
(7- 30 days) while TDR is for long period (1 month up to 5 years).
ACCOUNT OPENING
Account opening is the first step towards establishing a relationship between the
customer and the bank. The Bank of Punjab is offering basically two types of account:
1. Current Deposit Account
2. Profit and Loss Sharing Account
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
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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 function is Account Opening. The bank reserves the right to open any account, which
in its opinion is suitable as a customer. The process of opening an account is very simple and
anybody that would like to open his account could do it easily without any difficulty.
The person would like to open his account is required to meet with the manager or second
officer, who will give him an Application form specifically used for account opening. Along
with the form a card for specimen signature is also supplied to the customer. Manager has every
right not to accept this contract if he is not satisfied with the details provided by the customer.
But in case the contract is acceptable to both, the next step is official account opening.
This begins with the Account Opening Register which can be thought as a customer’s
master file. The manager records the necessary details into this register5 and allots an “Account
Number” from this account opening register. This register is maintained for each type of
accounts and the account numbers are allotted serially. After opening the account every
applicant’s date is entered in the computer to maintain the safe record and application form is
also safely put off, so that it can be available whenever it is needed. Checking officer is
responsible to tally the manual data with computerized account opening file. For fix deposit only
the application form is needed, which is prepared manually, because most of the procedures of
fix deposit is done manually. Signature specimen card contains three signatures of the applicant,
applicant account number, account type, branch code, and title of account. It will be attached
with the account opening form. Banker uses this card when he receives the cheque, he compares
signature on the cheque with the Specimen card, for avoiding the frauds.
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Maintain the safe record and application form is also safely put off, so that it can be available
whenever it is needed. Checking officer is responsible to tally the manual data with
computerized account opening file. For fix deposit only the application form is needed, which is
prepared manually, because most of the procedures of fix deposit is done manually. Signature
specimen card contains three signatures of the applicant, applicant account number, account
type, branch code, and title of account. It will be attached with the account opening form. Banker
uses this card when he receives the cheque, he compares signature on the cheque with the
Specimen card, for 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 cheque, and other
negotiable instruments are brought by each local bank representatives and the mutual claims of
each bank on other and offset and a settlement is made by the payment of difference. Clearing
system is help full for both the customer and saving currency, time and labor. Clearance is done
through different negotiable instruments some of them are as follow
Cheques
Demand Drafts
Telegraphic transfers
Mail Transfers
Pay Order
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 these instruments these
are two types of clearing.
1. Outward Clearing
2. Inward Clearing
Inward clearing means the cheque drawn on BOP and outward clearing means the
Cheques drawn on others.
Outward clearing
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The instrument collected or stored bank wise and a schedules is prepared separately for
each bank mentioning the total number of instruments and the amount of the instruments. Then
these are recorded in a register called “OUTWARD CLEARING REGISTER” then a main
schedule is prepared showing the total number of cheque and their aggregate amount being
presented in the clearing.
The cheque/instruments are handed over the clearing branch. Central clearing branch
issue CREDIT ADVICE to the branch for passing credit to its customer immediately. The branch
on receiving credit advice debits the clearing account and credits the respective customer
accounts.
Inward clearing
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 of cheque
passed in clearing is prepared, drawn on central clearing branch.
REMITTANCE DEPARTMENT
Remittance is a major function of the bank. It is the transfer of money from one place to
another place. The need for remittance is commonly felt in commercial life particularly and in
everyday life generally. By proving this service to the customers the Bank of Punjab earns a lot
of income in the form of service charges.
Types of Remittance
The Bank of Punjab deals with the following type of remittances:
Demand Draft (DD)
Mail Transfer (MT)
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Telegraphic Transfer (TT)
Pay Order
ACCOUNT DEPARTMENT
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. Accounting
books of different departments are maintained under this 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 vouchers contra
entries are passed under different head. Good working of accounts mainly depends on the
voucher system. Accounts department is responsible for proper 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
1. Debit Voucher
2. Credit Voucher
These two types of vouchers are again classified under following types:
Cash voucher
Transfer voucher
Clearing voucher
All the daily transaction in cash, transfer and clearing is done through these vouchers. A
sheet is prepared on which all the vouchers passed during one day are consolidated and
summarized. This sheet is called supplementary sheet. There are two types of supplementary
sheet.
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1. Daily paid voucher sheet
2. Cash Book
Paid sheet is used for all debit vouchers and receipt sheet is used for all credit vouchers.
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
ledgers and books manually. Term deposit receipt or TDR ledger is updated after every month
for estimating profit on customer’s accounts. Accountant prepares different ledger for all
schemes of term deposit. With the help of TDR ledger accountant prepares “provisional ledger”.
From this ledger accountant calculate the monthly product of each account and estimate the
profit for a half-year. The semiannual profit on each account will be the expenses of branch.
Computerized Functions of Accounts Department
Most of the daily working is done through ledgers. In BOP all the daily transaction in
deposit, cash, clearing, transfer, remittance and advance are performed these daily ledgers;
accounts department receives the following output of general ledger:
Daily general ledger expense
Daily general ledger income
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.
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All the expenses of circle, regional, audit, inspection office is debited in the 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 opening balance. These ledgers are
helpful in preparing the daily, monthly, 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
Summary of income and expense
Statement of profit and loss on PLS account
Statement of profit and loss PLS 365 account
Balance confirmation report
Statement of affairs
BILLS DEPARTMENT
This 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
to their customer to get payment from the nearer bank at nominal charges. The four main heads
of bill department are:
1. Outward Bill for Collection (OBC)
2. Inward Bills for Collection (IBC)
3. Outward Documentary Bills for Collection (ODBFC)
4. Inward Documentary Bills for Collection (IDBFC)
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.
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Principles While Advancing
Basically there are five principles that must be duly observed while advancing money to
the borrowers, which are as follow:
1. Safety
2. Liquidity
3. Disposal
4. Remuneration
5. Suitability
Forms of Lending
Mainly there are two types of advances which are as follow:
1. Short-term (maturity within one year)
2. Long term (maturity with the period of more than one year)
These two types of advances are further divided into different categories:
Running Finance
Demand Finance
Cash Finance
Letter of Guarantee
Working of the Bank’s Departments (Services)
Commercial Banking
The Commercial Banking Group has been formed to cater the needs of small & medium
size customers for increasing Bank’s business significantly with clear focus, repositioning of
resources and active marketing to improve Bank’s profitability. Commercial Banking will deal
with customers having sales turnover and aggregate credit exposure as per benchmarks
prescribed in the SBP’s Prudential Regulations.
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 that involves a higher turn over a
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much wider network is needed. The SME will 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 Entities and Multi National
Companies. BOP facilitates its customers for all sorts of their banking needs including working
capital, trade finance, BMR and project financing etc. BOP has worked on some of the local
markets’ largest and most complex transactions and infrastructure projects.
The BOP Corporate Banking Group comprises of seasoned relationship management team to
meet the demanding service standards of large corporations. The group delivers a full range of
high quality advisory, financing and operational service solutions tailored according to
customers’ needs.
Investment banking
The investment Banking Group is entrusted with the prime responsibility of developing
and executing investment banking strategy to enhance and maximize 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.
Cash Management Service
Cash Management is a process of collections & payments on behalf of the Customers
using the Bank Network. The objective is to facilitate organizations with multiple collection
points in gathering Cash / Funds and making them available in the customer operating Account.
Similarly it facilitates disbursement of frequent and or Bulk payment to multiple locations. This
should be accomplished with minimal supervision by the customer, supported by an automated
system to provide timely and requisite MIS / Reconciliation under agreed Service Levels
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Utility Service
Customers can pay their utility bills e.g. electricity, water gas, telephone, mobile, at any
of our 272 branches across Pakistan. For your convenience bills are collected on all working
days from 9:00 am to 5:00 pm (Monday to Friday) except lunch & prayer breaks and from 9:00
am to 1:30 pm on Saturday.
Bop Locker
Discover peace of mind, enjoy personalized service and operate your locker in a friendly
and pleasant environment at The Bank of Punjab.
Small locker for Rs 1200 per annum
Medium locker for Rs 1800 per annum
Large locker for Rs 3000 per annum
Extra large locker for Rs 6500 per annum
Other services
These are the other services provided by the BOP.
ATM Facility
On-Line Banking
Lockers Facility
Demand Drafts
Letter of Credit
Pay Order
Mail Transfer
Debit Card
Collection of Utility
Hierarchy of my Branch
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Branch Manager: MR. Arif chauhdary
Manager Operations: MR. Khalid Tanveer
Assistant operations manager: MR. Muhammad Usman Aslam
Credit officer: MR. Sajid Mobeen
Creditor: MR. Nabeel Hussain
System administrator: MR. Asad Waheed
Cashiers:
1. MR. Sohaib Farooq
2. MR. Mahar Zahoor
Office boy: MR. Imran Ashraf
Security guards:
1. MR. Muhammad Ali
2. MR. Usama
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My Experience and Learning
1. The first and the foremost thing that I have learned is that I am able to understand the
environment of the banking system and their workings.
2. I have understood the cash receiving and withdrawal process that how cash is received
and what are the processes when the cash is withdrawn by the customer.
3. I have also learned that how checkbooks, credit cards, debit cards etc are issued to the
customers.
4. Most importantly not only from a banker’s point of view but from a customer’s point of
view as well I have learned to check the cheque as well.
5. I have also learned how to work in the corporate environment and practically experienced
the team work.
6. I have also enhanced my interpersonal skills because I have spent most of the time during
my internship on the help desk dealing and communicating with majority all the people
coming in the bank.
7. I have also learned about the operations behind the counters after the bank is closed for
the public service.
8. I have learned that how to close the daily accounts after checking all the transaction and
entries.
9. I also understood that how state bank controls all these banks.
10. Each branch has assigned a specific code along with its name; the branch communicates
with the head office with its name and most importantly its code as well.
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Recommendations
1. I have some recommendations after what I have learned while working in the Punjab
bank. These recommendations are as follow:
2. First of all Punjab bank has to revitalize its structure and should look upon its working
criteria.
3. Punjab bank is competing in the banking sector and we know that there are a lot of well
establish private banks as well in market with strong financial positions. So in order to
compete with these banks Punjab banks needs to improve its working standards.
4. Punjab bank should focus on its customers and should introduce new packages to attract
and retain their customers.
5. They should focus on the technological trends as well that are shaping in the in industry
and also adopt new technologies to make transactions and other banking process easier
for the customers.
6. Punjab bank should also focus on its employees along with focusing on their customers.
7. They should also improve their internal systems to make the processes easier for their
employees as well.
8. They should give their employees benefits and incentives and should raise the pay of
their employees at least up to the level of private sector so that they will not fell
dissatisfied.
9. They should also use different mode of promotions to aware their customers about their
products and new packages.
10. One of the most important issues is that Punjab bank is run by the Punjab government
and like other government its performance is highly affected because of the corruption as
we know about the different cases in the recent past.
11. They should develop a clean and strong system that no one will be able to exploit the
bank’s reputation, effectiveness and efficiency as well.
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Conclusion
In the light of my experience, working and my recommendations my conclusion of this
report will be that Punjab bank is one of the biggest players in the banking sector of Pakistan and
is also serving as a backbone of Punjab government as well. I order to excel in the current
intense competitive environment Punjab bank has to streamline its process and develop new
systems not only for its customers but for its employees as well. As we know that both these
entities are the most important asset and key driver of any business.
Secondly they should have a check and balance to keep an eye so that no one can exploit
or take advantage of its rank, seat or power as it’s a government so there is high involvement of
government officials in the bank.
No matter how better the bank is performing or will perform until and unless it will not
develop tight systems to eliminate the corruption it will not be able to excel, grow and compete
in the market.
24University of Management and Technology
Internship Report
References
1. MR. Muhammad Arif Chauhdary branch manager bank of Punjab, shahra e Quaid e
Azam Lahore.
2. www.bop.com.pk
25University of Management and Technology