internship report soneri bank limited

COMSATS Institute of Information Technology, Lahore

Vision

To provide visionary services and dynamic banking solutions to cater the needs of all

our stake holders

I n t e r n s h i p R e p o r t | 1


Mission Statement

To develop Soneri bank into an aggressive and dynamic financial institution having

the capabilities to provide personalized services to customers with cutting edge

technology and a wide range of products, and during the process to ensure

maximum return on asset with ultimate goal of serving the economy and society.



Executive Summary

Economy of a country depends on many factors and keeps on fluctuating as a result of

slight differentiation in any of the constituting factors. Among all the instruments required

to control these factors are the banks. Pakistan has been furnished with a vast variety of

banks both in private and government sector and there is also a increasing no of local

and international banks. Of these banks Soneri bank is one of the prominent banks in

private sector of Pakistan. It started its operations on September 28, 1991 and since

then it has been spreading its services country wide and it has been quite successful in

reaching the masses even in the remote areas. It is currently operating with 119

branches throughout out the country. The philosophy of Soneri bank is to serve the

nation at the lower levels and also to help the local industries whether of small or

medium sizes. Quite recently Soneri bank has also ventured in Islamic banking as well

as in agriculture banking.

Agriculture banking is also of vital importance at Soneri bank that is why the

extension of branches is balanced in cities as well as in villages. The Pakistan credit

rating agency (PACRA) has maintained banks credit rating at ‘AA’ for the long term and

‘A1+’ for the short term and ‘A+’ for term finance certificates reflecting banks well

maintained risk profile. In recent economic recession Pakistan’s economy also faced

certain jolts due to global slowdown coupled with high costs of imports, inflationary

pressures and other such factors. But despite all hurdles, due to prudence in liquidity

management Soneri bank has remained a net lender in the market and it has also

maintained a comfortable level of advance to deposit ratio.

Soneri bank is now expanding the circle of its services and it has issued visa

debit card that is accepted at more than 24 million Visa outlets. Soneri bank also has

correspondence in foreign countries with most of the major banks including Citi bank,

Standard chartered, HSBC, ABN Amro, Bank of America, Bank of New York and Bank of

Australia etc. Soneri bank is also home to people wanting to adopt a banking career and

also to growth oriented employees. That is why it urges people both inside and outside

the organization to take tests that are strictly prepared keeping in mind the need for

potential workforce and every employee is given the opportunity to take the test. Those

who are successful are then given the required training to serve the customer in a highly

professional manner and growth opportunity for such employees is very high.

Over the years Soneri bank has been working in stiff competitive banking

environment of Pakistan and it has been making its ground among all the giants. It is

one of those banks in Pakistan which are equipped with latest banking charisma.



The Organization Introduction

Economy of a country has some very dominant factors in its manipulation.

These factors like the currency, inflation, interest rates, circulation of money as well

as people’s buying powers are handled through means of different policy

instruments. Banks are one such example of these instruments. A bank in theory is

defined as “A bank is a financial institution licensed by government. Its primary

activities include borrowing and lending money.

The concept of banking was formally and initially presented by Knights

Templers. They formed different churches throughout Britain where one could easily

deposit their money, gold or whatever possessions they had. Of course at that time

the banking concept was just to provide some safe spot to save one’s money. Also

the modern concept of ATM’s was also given by Knights Templers. So like all other

things banking field kept on flourishing in different aspects reaching its present form

and with modern age facilities like ATMs online banking, mobile banking and use of

plastic money etc. Pakistan is also home to a no. of different local and international

banks having different magnitudes.

One such bank is Soneri bank. Not quite old, Soneri bank has soon achieved

a sound place in the banking industry of Pakistan and it is quite dominant in the SME

sector. Incorporated on September 28, 1991 the first branch of Soneri bank formally

opened doors in Lahore on April 16, 1992 followed by Karachi on May 2, 1992. The

bank now operates with 119 branches all over Pakistan including the Northern

Pakistan where up till now no other private bank has started operating. Soneri bank

not just believes in increasing the no. of branches. The expansion of branches is

based on a policy of maintaining a balance between the urban and rural areas with a

view to offering the services even in the remote areas of Pakistan. Pleasant and

sophisticated environment has been provided in the branches. The main essence of

the banking environment is to cater the banking requirements of small and medium

sized entrepreneurs, providing them qualitative and competitive services with

emphasis on encouraging exports. Nearly 40 percent of the credit portfolio of Soneri

bank is related to the export financing and credit decisions are taken within 48 hours

of the request of the customer.



The Bank operates in four segments: corporate finance, trading and sales,

retail banking and commercial banking. Corporate finance includes syndicated

financing and services provided in connection with mergers and acquisitions,

underwriting, privatization, securitization, research, debt, equity, syndication, Initial

Public Offering and secondary private placements. Trading and sales segment

includes fixed income, equity, foreign exchanged, commodities, credit, funding, own

position securities, brokerage debt and prime brokerage.

Retail banking segment includes retail lending and deposits, banking services,

private lending and deposits, trust and estates investment advice and

merchant/commercial/corporate cards. Commercial banking includes projects

finance, real estate, export finance, trade finance, factoring and leasing. The bank is

looking forward to attain further growth through activating the areas of Agricultural

Credit.



Corporate Information

Board of Directors Auditors

Chairman A.F. Ferguson & Co.

Mr. Alauddin Feerasta Chartered Accountants

Chief Executive Officer

Mr. Safarali K. Lakhani

Directors Legal Advisor

Mr. Nooruddin Feerasta Manan Associates,

Advocates

Mr. Inam Elahi

Mr. S. Ali Zafar

Mr. Abdul Hayee

Mr. Shahid Anwar (NIT Nominee)

Mr. Manzoor Ahmed (NIT Nominee)

Audit Committee REGISTRAR AND SHARE TRANSFER AGENT

Mr. Nooruddin Feerasta (Chairman) THK ASSOSIATES (PRIVATE) LTD.,

Mr. S. Ali Zafar (Member) GROUND FLOOR,

Mr. Shahid Anwar (Member) STATE LIFE BUILDING NO.3,

Mr. Abdul Hayee (Member & Secretary) Dr. ZIAUDDIN AHMAD ROAD

KARACHI-75530

Company Secretary UAN: (021) 111-000-322

Mr. Abdul Hayee FAX: (021) 565 5595

Registered Office

RUPALI HOUSE 241-242, UPPER MALL SCHEME

ANAND ROAD, LAHORE – 54000



Organizational Structure

Top Level Management



Middle and Lower Management



Branch Structure (Hierarchy)


Chief Manager

Senior Manager

Assistant Manager-

OG-1

CD Incharge

OG-1

Account Opening

OG-1

Account Opening

OG-2

Clearing & Remittance

J.O

J.O

International Banking Incharge

OG-1

International Banking OG-

2

International Banking OG-

3

International Banking J.O

Advances Incharge

OG-3

Advances OG-3

Head Cashier J.O

Cashier J.O

Assistant

Agriculture Departmen

t

Typist J.O

System Administrator

N.C.S

ST

AF F

ST

RE

NG

TH

VP

O.G-1

O.G-2

O.G-3

J.O

Assistant

SVP

Massenger

1

1

4

2

4

7

1

1


Departments in Soneri BankFor the smooth working of an organization all the departments should work in

complete order and harmony to get the desired results. Soneri bank carries out its

working with the integrated working of its departments. The bank consists of the

following departments.

1. Accounts Department

2. Cash Department

3. Remittance

4. Agriculture Department

5. Credit Department

6. Import & Export

7. Foreign Trade

8. Islamic Banking

Now each of the above departments will be discussed briefly.

1. Accounts Department:

Accounts department is the first way of communication and interaction

between the bank and the customers. It is because the bank has to deal with two

types of customers. One type consists of those customers who are called as the

walking customers. These are not the potential customers of the bank. They just

walk in casually to grab some information or to pay utility bills. The real asset of the

bank is the permanent customers who maintain a long lasting relationship with the

bank, who have to get benefit from different services of the bank. So as a first

interaction they have to open a new account with the bank.



To be a permanent customer first they have to open a new account. There is

also a classification of accounts based on which the types of accounts are

maintained. There are two classifications of the accounts. These are.

Type A accounts

For single, Joint personal and sole proprietorship accounts.

Type B accounts associations

For partnership, limited company, trusts, clubs

There are certain types of accounts which the customers can easily choose

form according to their own convenience and suitability. These are as follows.

1. Current accounts

2. Profit and Loss accounts (PLS)

3. Soneri savings (SS)

4. Basic Banking accounts (BBA)

5. Term Deposit accounts

6. Foreign currency accounts

To get affiliated with the bank obviously the first step will be to open an

account with the bank. So the account opening procedure is as follows:

Procedure of Account opening

If any person wants to open an account with the bank the account opening

officer first of all gets the photo copy of CNIC of the customer and get it verified

through NADRA. After getting verification from NADRA the officer gives application

form to customer. Customer fills the form and gives back to officer with the required

document.



After analyzing the documents if documents are in order the officer makes

entries into the account opening register and issues account number to the

customer. Now the customer can operate his/her account after depositing certain

amount.

Details of the Account Opening Form

In the account opening form the client is required to provide the following

information. The first part establishes the currency in which the account is to be

operated. The currencies include:

Pakistani Rupee

U.S. Dollar

Pound Sterling

Euro

Dirham

A fourteen digit code is given to the account holder that represents its

account. e.g. 0201 02 01235602. Various numbers represent different category of

the bank e.g.

1. 020 represents branch code

2. 102 represents product I.D.

3. 012356 represents customer I.D.

4. 02 represents prefix

The second part then establishes the preference regarding the type of

account to be maintained. The various choices offered are:

Profit and loss sharing account

Current account

In this era, it is not possible to keep the money with us, so it is useful to

deposit it into the bank for the safety. The depositor can withdraw his/her money

from the bank according to his/her will and whenever he/she needs the money.



Most of the customers want to open the current account because there is not

restriction to withdraw the amount, the account holder wants. Usually there is no

interest on the current account up to the certain extent.

Types of Accounts:

1. Current Account

Current is a nonprofit account, flexible account with a great convenience for

Individuals (in single or joint names), minors (to be operated by the guardian),

charitable institutions, limited companies, firms, associations, educational

institutions, etc.

Current account can be opened with a minimum amount of Rs. 10000/-

(Rupees Ten Thousand). Rs. 50 will be deduct per month form account if balance

decrease from Rs.10000.

Current Account entitles account holder to avail amazing facilities such as:

No limit on a number of transactions

Free Cash Deposit and Withdrawal facilities through customer’s bank branch

Free Clearing facility to deposit cheques of other banks within the city

Free Online Funds Transfer through Cheques to any account across Pakistan

through customer’s bank branch

Online Cash Deposit, Withdrawal and Funds Transfer through cheques from

any of our branch across Pakistan (e.t.c)

2. Profit & Loss Savings Account

PLS Savings Bank Account is a simple, straight forward Savings Bank

Account with a great convenience for individuals (in single or joint names) minors (to

be operated by the guardian) charitable institutions, provident fund and other funds

of benevolent nature local bodies, autonomous corporations, limited companies,

firms associations, educational institutions, etc.



The account may be opened with any amount; however accounts with

balance below Rs.5000- on any day shall be subject to Service Charges as per our

Schedule of Charges in force

The PLS Savings Account entitle Account Holder to avail amazing facilities such as:

Chequing Account facility with no limit on a number of transactions



Online Funds Transfer through Cheques to any account across Pakistan



any of our branch across Pakistan (e.t.c)

PLS Savings Accounts:

Rate of Return 5.00% p.a.

Rs. 5,000/= minimum balance requirement.

Regular Chequing Account.

Profit paid bi-annually.

Period Rate of Return

7 days 6.00% p.a

30 days 8.00% p.a

3. Soneri Savings (SS)

Soneri Savings Account is a flexible and fast growing cumulative profit

account with a great convenience for individuals (in single or joint names), minors (to

be operated by the guardian), charitable institutions, provident fund and other funds

of benevolent nature local bodies, autonomous corporations, limited companies,

firms associations, educational institutions etc. The rate of Profit in this savings

scheme increases as customer’s balance increases without demanding and

negotiating with SBL. The account may be opened with any amount. Soneri Savings

Bank Account entitles Account Holder to avail amazing facilities such as:





Online Funds Transfer through Cheques to any account across Pakistan



any of our branch across Pakistan

Minimum balance requirement 5,000/-.

Profit paid on monthly basis on daily products. (e.t.c)

Balance Rate of Return p.a

Upto Rs. 100,000 5.00 %.

Over Rs. 100,000 but upto Rs.1.0 Million 7.00 %.

Over Rs. 1.0 Million but upto Rs. 5.0 Million 8.00 %.

Over Rs. 5.0 Million but upto Rs. 10.0 Million 9.00 %.

Over Rs. 10.0 Million 11.00 %.

4. Basic Banking Account (BBA)

Soneri Bank Limited introduces Basic Banking Account Scheme with effect

from July 01, 2006. Salient feature of the Scheme are:

Basic Banking Accounts may be opened in the Pak Rupees by individuals

including minors under guardianship.

The accounts may be opened by initial deposit of any amount.

No minimum balance requirement is applicable.

Basic Banking Account is non-profit bearing account.

4 withdrawals from a Basic Banking Account through cheques in one calendar

month are free of service charges. Additional withdrawals through cheques in

a calendar of month shall be subject to service charge @ Rs. 25/- per

additional cheque.

5. Term Deposit Accounts



Term deposit is offered by Soneri Bank to Individuals (in single or joint

names), Minors (to be operated by the guardian), Charitable Institutions, Provident

Fund and other funds of benevolent nature local bodies, Autonomous Corporations,

Limited Companies, Firms, Associations, Educational Institutions etc who have the

intention of retaining their savings for a fixed period thereby earning a higher rate of

profit. The Term Deposit allows customer to save a fixed amount in Pak Rupee for a

set period ranging from 1 month to 60 months at a provisional and attractive profit

rate. The depositor has the option to reinvest the deposit automatically with or

without profit.

Calculation of products on Term Deposit is computed on a daily product basis

Term Rate of Return p.a

1 month 8.00 %.

3 month 9.00 %.

6 month 10.00 %.

1 year 11.00 %.

2 years 12.50 %.

3 years 13.00 %.

6. Foreign Currency Account (FCA)

The FCA is Current/PLS account being dealt in foreign currency,

particulars are same as of Current or PLS account.

2. Cash Department:

Cash department is one of the most critical departments and it encompasses

the deposits of the bank and also of individual branches. The Cash department of

Soneri Bank limited works under the operation department.

This department is given the complete responsibility of cash as a result of

transaction in local and foreign currencies. It is also responsible for the book keeping



of these transactions and the safe custody of cash. This department is one of the

most sensitive departments of the bank.

This department performs the main function:

Cash Receipts

Cash Payments

Cash receipts

In cash department depositors use deposit slip for depositing the amount into

their accounts. The officer checks if the deposit slip is properly filled up containing

title of account. Account number date and amount in words and figures. Detail on

both counter file and cash receipt voucher should be the same. Cash is received by

cash receiving officer twice counted and matched with the deposit slip. The cash

details are written on the back of the deposit slip and are also entered in cash

receiving register and the cash received stamp is affixed on the slip.

Cash payments

Soneri Bank deals with cash payments the process for payments of cheques

local and foreign currency is same. First the cheque is presented by the customer to

cash payment officer. He confirms that it is drawn on the same branch and the

particulars of cheque are properly filled. One signature of the customer is taken on

the back of the cheque. Cheque is handed over the officer cash department for

security where officer checks the date, amount in figures and words. After proper

checking account is debited and cheque is cancelled by the officer. It is posted in the

system and posting stamp is affixed on it and then cheque is handed over to the

cash payment officer for payment.

3. Remittance Department:

Remittance department is basically related to the internal working of the bank.

This department deals with following types of working.



Pay Order

Online Transfer

Demand Draft

ATM

Debit cards

Credit cards

In the SBL the Remittance Department is headed by one person who is

responsible for looking after the accounts of the branch and forming pay orders,

Demand drafts, Telegraphic transfer. He has to make sure at everyday that the

branch is a balance, in my days there; there was no one day that they had come

across any problem of an unbalance.

1. Pay Order

Pay Order is a transferable instrument made by the bank, on account of a

customer, to pay on order the precise amount to the directed person (payee). It is in

the city area .The banks are not answerable of any theft or any mishandling of the

pay orders. Pay Order is always drawn on the bank that has issued it.

Making of a Pay Orders

When a person requires a Pay Order, he is asked to complete the prescribed

application form in which the amount of pay order is to be stated. Certain amount of

commission and advance tax is charged on issuance of pay order. After having the

total amount deposited in the bank (in cash or through cheque, in case of account

holder), pay order is issued in favor of the payee.

Like cheques, when pay orders issued by Soneri Bank Limited, are presented

in other banks to get them deposited in the payee’s accounts, they comprise the

outward clearing for those banks and inward clearing for Soneri Bank Limited.

2. Online Transfer

One branch may send cash to another branch straightforwardly, with of

course, the permission of the head office. The usual process in such a case is that



the head office in its books should debit the receiving branch and credit the sending

branch. But in the books of the head office it views. The transactions as returning the

cash to the head office and subsequently sending cash to another branch.

3. Demand Draft (DD)

Demand drafts are used for the transfer of the money between the cities.

“A Demand Draft is a transferable instrument issued by the bank, on account

of a person, and drawn on its own branch in a precise city or on the branch of a

different bank in that city (in case bank doesn’t have any branch there), demanding it

to pay the specified amount to the person named on it”.

Demand Drafts are used to make outstation payments or to transfer money,

out of the city. Hence, a Demand Draft is always made for a detailed city.

Making of a Demand Draft

Assume a customer requests to provide him a Demand Draft made on his

account for a particular city like Karachi. Then, after having the total amount

(together with commission and advance tax) to be deposited with application form,

demand draft is issued in favor of the specified person in Karachi (hypothetical) and

is drawn on SBP Limited, Karachi Branch. So, when this demand draft is presented

by payee in any bank, it constitutes the inward clearing of Soneri Bank Pakistan

Limited, Karachi Branch.

4. ATM

Soneri Banking Card offers convenient and 24-Hours-a-day, 365 days a year

access to ATMs across the country. When traveling within Pakistan, use the Card at

Soneri Bank’s own network of ATMs and hundreds of ATMs displaying either the 1-

link or M-Net symbols.

5. Debit Cards

Soneri debit Card /Banking Card may also be used to pay for purchase /

Services made / availed from Merchants Outlets displaying ORIX logo. Soneri Debit



Card does not involve any repayments, interest charges or monthly billing, as you

are using customer’s own funds in customer’s account.

Working of Remittance Department

All these methods work on same principle. This method involves debiting

main Soneri account and then crediting client’s accounts. Changes are in form of

symmetry or order of the operation. For instance TT is used to transfer money

electronically but it has been replaced by online transfer on money. It has two types:

Advice and pay

In this method the customer is eligible to get the counter payment as soon as

he/she gets the instrument i.e. DD/PO etc.

Advice and credit

In this method the customer is not eligible to get the counter payment instead

the amount of instrument is directly credited to his/her account.

Clearing department is incomplete if IBC and OBC clearing schedules are not

mentioned. These to schedules are inter-bank and intra-bank procedures which are

performed on daily basis. The detail is given below:

Outward Bills for CollectionWhen an instrument is drawn on a bank, which is located outside the city, its

proceeds can be collected through a mechanism called Outward Bills for Collection

(OBC).

Procedure:

All the cheques are received on one counter along with the paying slips duly

filled in properly containing particulars of cheques and account holder. Counter folio

of paying slip is handed over to the customer by putting stamp for “cheque received

for collection for Soneri Bank” on it duly signed by officer. These cheques are

scrutinized and cheques for local clearing are separated from OBCs. Cheques for

local clearing are entered in Clearing Register, whereas cheques for collection are



entered in OBC register. OBC number is allotted to the cheque from OBC register.

Special crossing and bank endorsement stamps are affixed on the cheque.

Inward Bills for CollectionIf any other bank sends a cheque of Soneri Bank Limited, it is Inward Bill for

Collection. Soneri Bank remits money after checking the balance of the customer

account. The process of collection starts when the cheques of Soneri Bank Ltd are

received from other banks. Then these cheques are sent to the Head Office Karachi,

which sends the cheques to SBP for clearing and get the confirmation of cheque and

credit advice. Main activity of clearing is performed by Head Office, which contacts

other banks through SBP.

4. Agriculture Department:

Agriculture department is a relatively new department and its goal is to

provide facility to medium sized formers to cultivate their lands and to play their parts

in the betterment of the country. Following agriculture finance facilities are provided

by Soneri Bank Limited at its selected branches:

Production Loans:

Production loans are offered to meet the input and other working capital

requirements for farming, orchards and nursery, tunnel farming, storage of raw

material, transportation marketing grading and packing etc., by farmers.

Development Loans:

Development loans are offered for the purchase of tractors, trolley, thrashers,

ploughs, cultivators, laser levellers, combine harvesters, processing machinery,

transport for delivery of dairy, poultry, fisheries. Installation of tube-wells, turbine,

land levelling, soil improvement, land reclamation, seed processing units and for

godowns, silos and cold storages.

Livestock:



To meet the fixed cost and working capital requirements for cattle farming,

cattle feed units, dairy farming, poultry farming; poultry feed units and fish farming.

Repayment Period:

Principal amount of Finance plus mark-up thereon is repayable depending

upon nature of business ranging from one to five years. Revolving facility is also

available under specific terms.

Mark-up Rate:

All Type of Agriculture Loans upto Rs. 100,000/- : 6M Kibor + 2%

Production Loan under Revolving Credit Scheme: 6M Kibor + 3%

Working Capital for Live Stock 6M Kibor +3.5%

Development Loan (All kinds) : 6M Kibor + 4%

5. Credit Department:

Over the recent years credit department of any bank has got a vital

importance primarily because of the car finance. It is a philosophy in banks that more

the credit goes to the customers more will be the credibility of the bank in front of the

customers, condition being applied that the financing gets along smoothly. The credit

department has two types of financing.

Consumer Financing

Commercial Financing

Consumer financing also comprises of following types of financing.

SONERI CAR FINANCE

SONERI GHAR FINANCE

SONERI PERSONAL FINANCE

Commercial financing consists of

Small and Medium enterprises



There are two main divisions of Credit division:

Consumer Financing

Commercial Financing

Consumer Financing:

Consumer financing has further three constituents:

Soneri Car Finance

Soneri Ghar Finance

Soneri Personal Finance

Soneri Generator Finance

1. Soneri Car Finance

Purpose of Finance

Purchase of brand new:

Un-registered cars for private use.

Un-registered light commercial vehicles for private use.

Eligible Borrowers

Salaried Persons, Self Employed Professionals, Business Persons

Financing Amount

For Cars upto 2000 CC: Rs. 1.0 Million

For Cars exceeding 2000 CC: Rs. 2.0 Million

2. Soneri Ghar Finance

Purpose



Purchase / Construction of Property for self-occupancy.

Extension / Renovation on self occupied residential Property.

Product Categories

Purchase of pre-constructed Residential Property.

Construction of residential property on self owned plot of land.

Extension / Renovation on self owned & occupied property.

Balance Transfer Facility (BTF) for any of the above finance.

Eligible Borrowers


Financing Amount

Purchase Rs.Up to 10 Million

Construction Rs.Up to 10 Million

Extension / Renovation Rs.Up to 03 Million

Balance Transfer Facility Rs.Up to 10 Million

3. Soneri Personal Finance

Purpose of Finance

To meet medical expenses for self or dependants of applicants.

To meet educational expenses of applicants children.

To meet travel expenses for self and family members. (e.t.c)

Product Categories

Eligible Borrowers


Type Maximum Financing

Clean Financing Upto Rs. 0.5 Million

Balance Transfer Facility (BTF) Upto Rs. 0.5 Million



4. Soneri Generator Finance

Purpose of Finance

For purchase of brand new Electric Power Generator to be installed at

residential / commercial / industrial property owned by the borrower.

Eligible Borrowers


Financing Amount

Minimum Amount of Finance: Rs. 0.1 Million

Maximum Amount of Finance: upto Rs. 1.0 Million

Commercial Financing:Commercial financing further caters:

Small and Medium Enterprises (SME)

Soneri Bank Limited, arguably at the forefront of commercial excellence, has

strengthened its product profile by introducing the following cost effective innovative

tailor made small and medium enterprises (SMEs) financing options on flexible terms

to its most discerning customers need.

The Market segment for this business is primarily SMEs and the bank stands

committed to contribute in the process of national development with an explicit focus

in providing quality finance solutions.

SONERI SARMAYA SCHEME

SONERI AASAN SCHEME

SONERI TEJARAT SCHEME

The division between SME is as follows:



Trading Manufacturing Services

Sales Not More than 300M Not more than 300M Not more than 300M

Employees 50 250 250

Assets 50 Million 100 Million 50 Million

6. Import and Export Department:

Import and export department is closely tied with the foreign trade

department. Basically it is an extension of the foreign trade department and whatever

the bank has to offer in the foreign trade department is carried out through the import

and export department. The import and export department works with the provision

of following types of services.

Advance payment

D/A or on credit

Cash against documents

7. Foreign Trade Department:

Specifically the FTD exists as a liaison between exporter and importer. It

issues LC’s comprising of guarantees, issuance of documents including airway bills,

bills of lading, E-Forms, exchange rates etc.

L.C commonly known as letter of credit or also documentary credit. In most of

the cases L.C is maintained for exports.

The basic purpose of an L.C is to issue sort of a guarantee on behalf of an

importer. Like if an importer asks for a shipment for which he or she intends to pay

late or on credit then obviously the exporter needs some sort of guarantee that the

importer will really give back his or her money as promised. Here the banks play

their role.

The bank which opens the L.C is usually on the importer’s end giving a

guarantee to the exporter’s bank that in case the importer fails to pay the payment in



the due time then the opening bank will pay on his or her behalf. For opening an L.C

there are certain requirements which the banks take care of. These are:-

Invoices

Bill of lading or airway bill

Packing list

Inspection certification

Insurance cover Notification

Then it might also be the case that the opening bank which is opening the L.C

on the behalf of the importer does not maintain a sound image in the banking

environment or it operates in an environment that is unstable like in a war inflicted

country that its worthiness can be doubted. So in such type of cases the banks

acting on behalf of the exporter may ask to indulge an advisory bank or negotiating

bank which is willing to give a guarantee on behalf of the opening bank.

8. Islamic Banking:

Islamic Banking is an emerging field in Pakistan and is gaining sound

reputation simultaneously with advance banking. In contrast to the traditional

banking it is based solely on Shariah. Soneri Bank offers four different types of

services in Islamic Banking.

SONERI JARI ACCOUNT (CURRENT A/C)

SONERI BACHAT ACCOUNT (SAVINGS A/C)

SONERI MUNAFA ACCOUNT (SAVING A/C)

SONERI MEAADI ACCOUNT (TERM DEPOSITS)

1. SONERI JARI ACCOUNT (CURRENT A/C)

Soneri Jari Account, on the basis of Qardh may be opened by individuals,

partnerships, Joint Account holders, Companies, Corporate, Trusts e.t.c, with

following unique facilities:

No limit for minimum or maximum balance.

No limit for minimum or maximum withdrawal amount within the available

balance.



Country wide cash deposit / withdrawal facility.

Personalized Cheque book facility with no restriction on number of

transaction.

Fund utilized by the bank in accordance with Shariah Principles under the

supervision of proficient Shariah Advisor.

2. SONERI BACHAT ACCOUNT (SAVINGS A/C)

Profit & Loss Sharing Soneri BACHAT Account may be opened by

individuals, partnerships, Joint Account holders, Companies, Corporate,

Trusts e.t.c, on the basis of Shariah Principles of Musharaka with the following

unique facilities.

Minimum amount for account opening Rs. 100/=.

Profit calculated on monthly average and distributed on quarterly basis.

Profit calculated on the basis of weightages for different tiers to benefit

higher balance with higher return.-Extra premium on deposits of Rs. 10

Million and over.

Weightages declared at periodically intervals to be announced on the web-

site, and will be displayed on notice board.

Soneri Bachat account with special operational facilities of Current

Account.

3. SONERI MUNAFA ACCOUNT (SAVING A/C)

Profit & Loss Sharing Soneri BACHAT Account may be opened by individuals,

partnerships, Joint Account holders, Companies, Corporate, Trusts e.t.c, on the

basis of Shariah Principles of Musharaka with the following unique facilities.

No Minimum amount for account opening.

Profit will be calculated on daily products.



Profit calculated on the basis of weightages for different tiers to benefit

higher balance with higher return.

Extra premium on deposits of Rs. 10 Million and over.

4. SONERI MEAADI ACCOUNT (TERM DEPOSITS)

Profit & Loss Sharing Soneri BACHAT Account may be opened by individuals,

partnerships, Joint Account holders, Companies, Corporate, Trusts e.t.c, on the

basis of Shariah Principles of Musharaka with the following unique facilities.

Minimum deposit Rs.10,000/= for a fixed period of 1 month, 3 months, 6

months, 1 year, 2 years, 3 years and 5 years.

Profit payment at the option of client i.e., monthly, quarterly, half yearly,

yearly or on maturity.

Profit declared quarterly.

Net profit (after deduction of expenses & management fee) to be shared

on the basis of weightages.

Weightages on the basis of tenor and option of profit payment will be

announced quarterly.

In addition to the Departments stated above there are several other additional

services being provided by SBL. These are:

Other Services

Online Banking

On-Line Banking Services are available for all Chequing account holders.

SERVICES:

Cash Payments of cheques drawn on any of our all branches.

Cash Deposits in to customers account maintained at any of our all

branches.

Balance inquiry.



Account statement production.

Soneri Saving Certificates

Soneri Bank's 3 years Soneri Savings Certificates provide investment

opportunities to small and medium income group investors, Charitable /Benevolent

Funds, Trusts, societies, Associations and Clubs with an attractive return.

Salient features of Soneri Savings Certificate

Annualized Rates of expected Profit 11.50% p.a.

Certificates are issued for a fixed period of 3 years.

Profit paid on completion of 6 months from date of investment.

The certificates are issued in multiples of Rs. 10,000/-

Provisional Rates

Annualized rates of expected profit for different types of PLS deposits.

CERTIFICATES OF DEPOSITS

Term %age

3 years (Soneri Savings Certificates) 11.50 % p.a.

Diamond Deposit Certificates

Soneri Diamond Deposit Certificates provide investment opportunities to small

and medium income group investors, Charitable / Benevolent Funds, Trusts,

Societies, Associations and Clubs with an attractive return.

Salient features of Soneri Diamond Deposit Certificates

Certificates are issued for fixed periods of 1, 2 and 3 years.

Annualized Rates of expected Profit: from 11.00 % p.a. to 12 % p.a.

Profit paid at monthly intervals calculated from date of deposit.

The certificates are issued in multiples of Rs. 10,000/-

Financing facility upto 90 % of Deposit available.



Provisional Rates

Annualized rates of expected profit for different types of PLS deposits.

CERTIFICATES OF DEPOSITS

Term %age

Diamond Deposit Certificates

1 Year11.00% p.a.

2 Years 11.50% p.a.

3 Years 12.00% p.a.

Golden Deposit Certificates

Soneri Bank’s 5 years Golden Deposit Certificates provide monthly income

based investment opportunities to small and medium income group investors,

Charitable/ Benevolent Funds, Trusts, Societies, Associations and Clubs with an

attractive return. Business Firms and Corporate can also invest.

Salient features of Golden Deposit Certificates:

Annualized Rate of Expected Profit 10.25% p.a.(Effective from Nov 1, 2007.

However deposits prior to Nov 1, 2007, shall be continue same rate up to their

respective maturity dates.)

Certificates are issued in multiples of Rs. 10,000/- for a fixed period of 5

years.

Soneri Premium Deposit

Cheque Free Soneri Premium Deposit is offered by Soneri Bank to individuals

(in single or joint names), Minors (to be operated by the guardian), Charitable

Institutions, Provident Fund and other funds of benevolent nature, local bodies,

Autonomous Corporations, Limited Companies, Firms, associations, Educational I n t e r n s h i p R e p o r t | 31


Institutions, Clubs etc. who have the intention of retaining their savings for a fixed

period of 12 months thereby earning a most lucrative rate of return thereon. The

depositors have the option to reinvest the deposit automatically with or without profit.

Minimum Deposit Amount: Rs.25, 000-

Annualized rate of Return (Provisional): 12% p.a.

Profit Payment Frequency: Annually at maturity of Deposit

Cheque Free Banking

No Check book

300,000/ Per day

Time Saving

No Signature required

No charges Can be used at POS Terminal deployed branches

Lockers

Specially designed lockers of various sizes to meet the requirements of

applicants are available at our designated branches. The lockers may be operated

during the banking hours of the branch.

ELIGBILITY:

Only Account holders of our branches are eligible to apply for renting the Safe

Deposit Lockers.

ALLOTMENT OF LOCKERS:

A locker of the size of applicant’s choice shall be allotted subject to its

availability.

Bank’s prescribed License Agreement on Stamped Paper to rent the Locker is

required to be executed by the applicant with cost thereof payable by the

applicant.

Key Deposit money as per our Schedule of Charges in force is payable by the

renter. The Key Deposit is refundable when the locker is surrendered. In case

the key to the locker is lost, the key deposit shall be forfeited.



Telephone Banking

With Telephone Banking, customers can access all the information they need

without making a trip to the branch. This means no Parking to find, no traffic to flight

and no standing in line. At home, at work or on the go, all they need is a touch-tone

telephone, customer’s card number and the T-PIN to access customer’s bank

account, 24 hours a day & 7 days a week.

ELIGBILITY:

If customers are having Soneri Banking Card, if they are maintaining a Soneri

Bank PKR Current or Savings account Single or Joint account with either signatory

authorized to operate the account, a further supplementary card can also be issued

to the second account holder. All Soneri Banking Card holders use debit card facility.

AVAILABLE SERVICES:

Balance Enquiry

Today's Transaction by Voice

Instant statement of Account through Fax

Request for Computer Generated Statement of Account

Request for cheque book

Stop mark of lost Soneri Banking Card

Change customer’s T-PIN

Latest Forex Rates

Product Information

T-Pin Change



Learning as an Internee

While I was in Soneri bank, I observed that learning and infusion of

knowledge is not restricted to the upper echelons of power. I was helped in every

aspect and the staff was very supportive. In the course of my six weeks of internship

in Soneri bank I was rotated in all the departments of the branch and was told every

minute aspect of the working of the routine banking procedures.

Starting with the accounts department I was told that the accounts are the

preface of the bank and the customers evaluate the bank on the outcome of their

experience of how their accounts are managed. I got the experience of the account

opening procedure and also how to handle the account closing. Although at lower

level but I got a chance to audit the account forms. I also learnt different postulates

required to get started with the account.



Then I was shifted to the remittance department. This department can be

considered the heart of the internal operations of any bank. It incorporates the

internal working of the bank like IBC, OBC, ATM operations and debit cards etc.

Then moving to the cash department matters was quite delicate. It is because

handling cash is quite sensitive matter but still I was given a chance to spend some

time in the cash department and got quite comprehensive knowledge about cash

payments and cash receipts.

Agriculture department was brief and I got hand on knowledge on how

agriculture financing is done.

In the Credit department I was shown a book containing the rules of SBP

which is the criteria for granting the loans to individuals and to different enterprises.

Financing is done only after it is allowed by the regional head office in Lahore and I

witnessed a case for car finance which was declined by the RHQ.

Then I attended the foreign trade department. It is a busy department given

the working and interaction with international institutions. Here I was familiarized with

E-forms, LC, lodgment of payment of advance and FDBC etc. I also got knowledge

how to keep record of daily rates of foreign currencies.

I have to admit that learning and transfer of knowledge at Soneri bank is quite

easy and what I liked best about this bank is that internships are not restricted just to

those who have some connections inside and also there are chances to be the part

of this institution as I have seen an internee to be accepted as an officer in the same

branch. So it was really an honor and pleasure to work for some weeks and to get an

on hand knowledge about the banking environment.



SWOT Analysis

Following are some points of strengths and weaknesses for internal

environment and opportunities and threats for external environment respectively.

Strengths

Supportive environment for learning: As mentioned in the report, environment

in Soneri in Soneri Bank is conducive for learning and as an internee I was

given full support and encouraged to diffuse the knowledge with my learning

capabilities. Anyone wanting to be blended in a professional banking

environment can be immensely benefited by the Soneri bank’s professional

environment. More opportunities for career development thus resulting in

more dedicated work force.



Dedicated banking for SME sector: Soneri bank pays special attention to the

SME sector thus resulting in a more professional and focused approach for

the profound sector. So there is more to learn and serve for this important

sector.

Reaching far distant lands like Northern areas thus grabbing first mover

advantage: First mover advantage for any organization in any field is the key

to become market leader. Same goes for Soneri bank because it has

ventured in the northern areas before any other bank and certainly this

venture gets Soneri bank a higher position and special position in the minds of

people.

Job rotation as a periodic practice thus making the staff knowledgeable about

all fields: Job rotation for the staff in Soneri bank is a regular practice. It gives

the employees insight in all aspects of general banking thus making them

quite comprehensive about the minute details to be an effective banker.

Weaknesses

Less effective software: One of the most visible weaknesses is the software.

Not that the software itself is faulty, but it becomes less effective with the often

wavering link with the head office. If a customer returns because he or she

was not entertained is definitely not in favor of any organization. So attention

should be given to the matter in hand.

Broken down on line links: It is same problem as mentioned earlier. Wavering

link often stops the entire working thus resulting in nothing but to wait for the

link to become effective again. So of being idle the link should be upgraded as

a first priority because broken links makes a no. of services irresponsive.

Broken down ATM network: This is also a staggering problem. ATM’s have

become a most essential facility of all the banks and a huge no. of people



gets benefit from them. But it is obviously annoying to see an ATM that is shut

out. It may be a problem for the bank in this age of competition.

Relatively less scattered global network: When other banks are venturing in

the global network Soneri bank is still falling short of an expansion in the

global network. Like mass production, presence is more places may result in

an opportunity to compete with other institutions and to make a distinguished

place in minds of customers. There is still a huge gap in getting benefit from

this aspect.

Opportunities

Establishing foreign branch network: As mentioned earlier opening new

branches in abroad will definitely give Soneri bank more insight into the global

markets thus making it more responsive to the latest trends in banking.

Capitalizing on information technology: I.T is booming in the current age, so

besides taking all measures transfusing I.T in all fields will definitely give

Soneri bank an edge for providing quality services.

Extension of serving markets: This is in reference to the above mentioned

point. If the bank is present in more locations it will definitely give an

opportunity to get benefited by the local responsiveness phenomenon.

Increasing the no of products and services related to online banking: As it is

an age of I.T, more products easily attainable by the customers over Internet,

more will be the credibility of the bank in their minds as a quality service

provider.

Threats

Increasing no of private and international banks: Recently no of new banks

have ventured in Pakistani banking industry and also there have been a no of

acquisitions which have stiffened the competition. So it may be difficult to be a

distinguished organization because perception precedes action and amongst



all the tough competition it will be a challenge to formulize a favorable

perception in the minds of potential customers.

Advanced and sophisticated software used by other banks: Software is the

core of banking these days. Like Habib bank uses Misys (Management

Information System) and National bank uses CAMS (Computer asset

management system). More effective soft ware will ultimately lead to better,

effective and efficient banking solutions. So unless effective and

comprehensive software is not obtained competing with other banks will be

difficult.

Strict focus on SME sector: Soneri bank pays special attention to the SME

sector and it is a healthy practice but other sectors also need to be given

proper attention and priority as well because attention in one sector and

negligence in the other might v\create an imbalance.

Unstable economic condition: Taking into consideration the recent economic

turmoil that has shaken the economy of whole world, all banks need to be

careful to be vigilant for any uncertain condition.

Financial Analysis

Ratio Analysis:

In finance, a financial ratio or accounting ratio is a ratio of two selected

numerical values taken from an enterprise's financial statement. There are many

standard ratios used to try to evaluate the overall financial condition of a corporation

or other organization. Financial ratios may be used by managers within a firm, by

current and potential shareholders of a firm, and by a firm's creditors. Security

analyst use financial ratios to compare the strengths and weaknesses in various

companies. If shares in a company are traded in financial markets, the market price

of the shares is used in certain financial ratios.

Financial ratios allow for comparisons

Among companies



Among industries

Among the different time periods for one company

between a single company and its industry average

The ratios of firms in different industries, which face different risks, capital

requirements, and competition, are not usually comparable.

Financial ratios quantify many aspects of a business and are an integral part

of financial statement analysis. Financial ratios are categorized according to the

financial aspect of the business which the ratio measures. Liquidity ratios measure

the availability of cash to pay debt. Activity ratios measure how quickly a firm

converts non-cash assets to cash assets. Debt ratios measure the firm's ability to

repay long-term debt. Profitability ratios measure the firm's use of its assets and

control of its expenses to generate an acceptable rate of return. Market ratios

measure investor response to owning a company's stock and also the cost of issuing

stock.

Now there are some the calculation of the ratios which are shown in the

tabular form below:

Ratios 2006 2007 2008

Liquidity Ratios

Current Ratio 1.34 1.07 1.53

Quick Ratio 0.52 0.49 0.88

Working Capital 4020716 4884922 39040081

Sales to working capital 1.38 1.28 1.20

Leverage Ratios

Interest Earned 2.40 0.21 1.48

Debt Ratio 4.51% 9.13% 9.14%

Debt to equity Ratio 0.93 0.93 0.91

Profitability Ratios

Net Profit Margin 0.56 0.52 0.24

Return on Assets 1.47% 1.36% 1.89

Operating Income Margin 44.90% 44.17% 46.19%



Operating Asset Turnover 2.76 2.92 2.51

Sales to Fixed assets 2.87 2.91 2.63

Return on Equity 21.9% 17.5% 19.2%

Gross Profit Margin 31.93% 30.89% 30.60%

Market Ratios

Dividend Per Share 0.104 0.08 0.11

Earnings Per Share 3.29 2.43 1.70

Soneri Bank declared PAT of Rs 1 billion (EPS: Rs 2.43) in FY07-08

compared to Rs 0.985 billion (EPS: Rs 2.39) in FY06 reflecting a positive growth

mainly due to upsurge in non-interest income. Net interest income grew by 9.6% to

Rs 1.93 billion in FY07 over Rs 1.76 billion in FY06 due to an increase of PKR 4.7

billion in net advances of the bank along with a higher interest rate scenario. The

growth in advances was 13% in 2007-08, which helped the bank to maintain its

growth momentum. In the year, the provisions increased by almost six folds from 36

million (2006) to 234 million (2007-08).



Noninterest income augmented by 41.5% to an amount of 1,064 million which

is the major contributor to overall increase in profit before tax (1,476 million) despite

of Non Performing Loans provisioning. This helped the bank to maintain its

profitability. The non-interest income increased by PKR313 million during the period

ended Dec-2007-08.

The profit after tax has grown by 1.5% in the year 2007-08 as compared to

7.1% and 41.4% in 2005 and 2006 respectively. The profit trend has been falling in

last few years. The falling profitability is in line with the industry, but the Soneri is

severely affected than others. Considering 2007-08, the return on assets stood at

1.36% while the industry enjoyed a 2% Return on Assets. As compared to the

industry (23% Return on Equity), the Soneri had a Return on Equity of 16.37% which

is way less than the competing banks. The bank did not pay cash dividends;

shareholders were given the option to accept bonus stock of approximately 30%

(99million shares).

The bank deposits have been growing. In 2007-08 alone, these recorded a

growth of 13.5% that inflated the deposits to Rs 60 billion (2006: Rs 53 billion). This

was the period when the banks didn't make high profits like the previous years.

However, since the tightening of the monetary policy in 2006, the interest rates on

deposits have increased, thus shrinking the spread that the sector had been

enjoying. Moreover, budgetary measures along with monetary policy are all set to

further decline the banking sector's spread in FY08.

The bank's assets have also grown to PKR76.8 billion in 2007-08, a growth of

8.7% (2006: Rs 70.7 billion). The profits again have not been able to meet the assets

growth. Resultantly, the Return on Assets has declined from 1.47% in 2006 to 1.36%

in 2007. Compared to the industry average of 2.1%, Soneri Bank lacks behind by a

fair margin. In line with the sector's trend, the investments have shown a great

increase as compared to advances.

The bank issued new shares worth PKR 997 million. This equity injection was

done to meet the reserve requirements of the SBP and to finance its expansion

plans. Overall, the bank's equity grew by 27.8% in 2007 to PKR 6.61 billion.



FUTURE OUTLOOK:

During the year 2008 the bank has plans to expand is network of branches

with focus on small and medium size business to enhance its market share. Taking

an industry look the profit margins are likely to further squeeze as the funding costs

will rise. Furthermore, the lending rates are likely to stay high in line with tight

monetary by central bank. Consequently, the profitability of Soneri is also likely to

show a declining trend. The budgetary and monetary measures like Federal Excise

Duty on banking services increasing from 5% to 10%, increase in National Saving

rates by 2%, increase in discount rate, frequent Open Market Operations will all

result in a decline in profitability for the sector.



Implications of Internship on my career

I think that internships are the preview of how crucial a professional working

environment is going to be. By doing internships one can form their perception and a

mindset that how he or she is going to adjust in the professional environment. Also

internships are one of the ways to show the employers that one can be a valuable

asset for an organization.

I have felt during my six weeks of internship that it has helped me to be

vigilant for what awaits in the practical world. I have seen how things are carried out

professionally. To be part of a banking environment I have gained quite an insight of

how important and crucial banking can be. During the internship I was moved among

all departments. This rotation has helped me a lot to form an impression of how to

prepare myself to work there if I am given an opportunity to a part of them.

Also Internships give one sort of a guide line whether to set an organization

as a career path or not. By doing this internship I have formed my opinion that I can

choose banking as a prospective career. I can now stream line my intentions and

efforts to be a part of a professional banking environment.

Internships Are also away to self analyze one’s true potential and level of

efforts one can exert to work professionally. After spending six weeks in the

internship, I think that I can opt banking and I hope that I can also apply for the

banking field. So self evaluation for my career has been achieved by doing these six

weeks internship.

Concluding the matters I hope that internships are quite grave in pointing out

areas of interests, areas of specialization and plucking ones true potential out for a

job. I sincerely hope that now my efforts will be more streamlined, organized and put

together to apply for the banking field and later in my career it can be beneficial to

prepare myself for what awaits in the professional and practical world.



Recommendations

After passing the time in the bank I have felt that one of the biggest weak

points of Soneri bank is its software called sonaware.net. It is because this software

is newer version of the old software called Sonaware. After implementation of this

software there is often a break down resulting because of the break in link. This

breakage of link sort of paralyses the entire working making long pauses in the

accounts department, remittance department and so on.

Also there is a problem in the ATM network of the bank. During my internship

I have seen many times the broken down ATMs. Obviously it turns the customers

away.

So in response to above stated problems and to some other restraints

following are some recommendation.

Improvement of the Software: - As it has been mentioned many times before

that in this digital age software and I.T are becoming more important for day

to day activities. So if a more comprehensive and dynamic software is

adopted it will surely help to grasp the attention of quality seeking customers.

Up gradation of the ATM network: - It is evident that ATM’s are the most

crucial and dynamic form of modern banking and now a days, a bank without

offering the facility of ATM is not going to stand in the stiff competition. So

Soneri bank needs to cater the needs of the customers and the ATM network

needs to be improved.

Increase in the number of branches both in rural and urban areas to cater the

needs of ever increasing no of potential clients: - More branches need to be

opened. Obviously suitability and other factors need to be considered but one

can never pluck the fruit out if not try for it. So unless more branches are not

opened more benefits cannot be obtained.

Better and effective marketing: - I have felt that Soneri bank is not very much

into advertisement of its services and products. In this age of competition and



mass media advertisement it is hard for you to be prominent and

distinguished. So unless an effective marketing is not done people will fail to

notice an organization even exists.

Focusing the banking not only to SME but on other potential areas as well: - It

will be favorable to extend the circle of services to more areas of serving.

Because mass production ideas also can be applied to the services sector as

well.



Conclusion

To summarize the things I would like to say that in a short span of time Soneri

bank has been successful in achieving a land mark amongst all private banks of

Pakistan. It started its operations in 1992 as public limited company with paid up

capital of Rs.300 (M). Now with its focus on the SME sector it has been successful in

grabbing attention of a lot of potential customers. Also it is a bank with a lot of

promises for new generation who want to choose banking as a career. Performance

for the sake of performance is entertained and every individual is given opportunity

to ascend to higher levels of their career by taking the test of Soneri bank which if

passed is a guarantee to be appointed directly as OG-2 which is a healthy practice

for promoting banking. Also with a less crowded management and board of directors

there are fewer clashes of interests thus resulting in whole and unified efforts for the

betterment of the bank. So in the end I just want to say that Soneri bank is a good

place to be a banker and to excel in the banking field with its promising facilities and

services to the public.



Glossary

SBL Soneri Bank limited

KIBOR Karachi Interbank offer rate

L.C Letter of Credit

ATM Auto Teller Machine

SS Soneri Savings

BBA Basic Banking Account

SBP State Bank of Pakistan

PACRA Pakistan credit rating agency

PLS Profit and Loss sharing Account

TDA Term Deposit Account

FCA Foreign Currency Account

E-Form Export Form

CNIC Computerized National Identity Card

NADRA National Data Base and Registration Authority

DD Demand Draft

TT Telegraphic Transfer

PO Pay Order

PKR Pakistani Rupee

PIN Personal Identification Number

POS Point of Sale

BTF Balance Transfer Facility

SME Small and Medium Enterprise

FTD Foreign Trade Department

GSM Global System for Mobile communications

OBC Outward Bills for Collection

IBC Inward Bills for Collection

NIFT National Institute of Facilitation Technology

RHQ Regional Headquarters (Lahore)

COK Central Office Karachi

FDBC Foreign Direct Bills for Collection

SWOT Strengths, Weakness, Opportunity and

Threats



PAT Profit after Taxation

Bibliography

Web-Sites

www.Soneri.com

www.google.com

Books

Financial Institution in Pakistan by Khawaja Amjad Saeed.

Manual of Banking Laws by A.W. Chaudhary


http://www.google.com/

http://www.Soneri.com/


References

1. Mr. Chaudhry, Zaheer

2. Mr. Salam, Saqib

3. Mr. Bukhari, Najam

4. Mr. Hussain, Shaukat



Index

Annexure 1: Internship Certificate



Annexure 2: Account Opening Form 1



Annexure 3: Account Opening Form 2



Annexure 4: Debit & Credit Vouchers



Annexure 5: Annualized PLS rates



Annexure 6: KYC (Know Your Customer)



Annexure 7: Balance Sheet


internship report soneri bank limited

Documents