Aayanali 12345
Aayanali 12345
RAWALPINDI
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Internship/Employment Report
(2019)
Internship/Employment Report
Name:
Arslan Masood
Reg. No.:
15-ARID-1682
Specialization:
Finance
Telephone:
0307-5314524
E-Mail:
[email protected]
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Company Name:
ASKARI BANK LIMITED (AKBL)
Fax Number:
051-2227543
Postal Address:
ASKARI BANK LIMITED, Golra Mor, Branch Ground Floor, Niazi Plaza,
Opposite Quaid-e-Azam Hospital,Rawalpindi.
Supervisor Name:
Report Date:
February 21, 2019
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EVALUATION
Arslan Masood
Completed internship at
Internship Report submitted for the Final evaluation of the requirement for
the degree of
It is certified that this report and the work contained in it conforms all the
standards set by the institution for evaluation of such work.
1. ____________________________________
Mr. Ammar Asghar
2. ____________________________________
Mr. Aleem Akhter
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DEDICATION
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ACKNOWLEDGEMENT
In the name of ALLAH, the most gracious, most merciful and most beneficial
who endowed me with the will and thoughts to complete this project with the
praise of his beloved Holy Prophet (PBUH). I am thankful to my loving
parents who brought me to this world and made me what I am today.I would
like to admit that I owe all my achievements to my truly, sincere and most
loving parents, who mean the most to me, and whose prayers are a source of
determination for me.
I would like to mention Mr. Naveed Ahsan, the Branch Manager who gave
me the opportunity to work in this bank and to learn and explore new things.
The whole staff of Askari bank Limited was very cooperative especially Mr.
Adeel Khan and Mr.Usman Sattar who helped me a lot during the internship
and I want to say thanks to all of them. .
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TABLE OF CONTENTS
Mission …………………………………………………………………. 11
Vision ………………………………………………………………….. 11
Strengths ……………………………………………………………….. 14
Weaknesses ……………………………………………………………. 15
Opportunities …………………………………………………………… 15
Threats …………………………………………………………………. 16
Analysis ………………………….……………….………………………… 23
Conclusion …………………………………..…………………….………… 24
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Recommendations ……………………………………….………………. 25
References ………………………………………………………………… 26
Appendix ………………………………………….…………………........ 27
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EXECUTIVE SUMMARY
Askari Bank came to Pakistan and gave Pakistan a new horizon, today Askari
Bank has set foot in the industry.The bank is committed to pull its energies,
resources and time to bring higher value and satisfaction of its customer,
employees and shareholders. This report consists of introduction of bank and
description of my experience there.
I learnt a lot during this time. It was my first experience to interact with
different types of people in a work place, to see the emotions and feelings of
the employees and to manage all the processes actually done in the bank.
This report covers a series of areas that I took in an analytical way. Major
portion of this report has been devoted to work description and analysis of
business processes especially from financial perspective. Efforts were to
explore the gap between literature and actual work practices in industry.
Analysis is done to see the performance of the bank.
In the end I would say that the overall environment of bank was quite good,
employees were very friendly and cooperative and this experience further
enhanced my strength to pursue a successful career.
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INTRODUCTION OF ASKARI BANK LIMITED
Askari Bank has since expanded into a network of 424 branches / sub-
branches, including 78 dedicated Islamic banking branches / sub-branch, and
a wholesale bank branch in Bahrain. Askari Bank limited is the main save
money with its operational Head Office in the twin urban communities of
Rawalpindi-Islamabad which have relatively restricted chances than Karachi
and Lahore; this made its tests and chances and constrained them to advance
and outward looking procedure as far as our business sector attention. A
shared network of over 9,000 online ATMs covering all major cities in
Pakistan supports the delivery channels for customer service. As at December
31, 2015, the Bank had equity of Rs. 26.9 billion and total assets of Rs. 536
billion, with 1,102,435banking customers, serviced by 6,781 employees.
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MISSION
“To be the leading private sector bank in Pakistan with an international
presence, delivering quality service through innovative technology and
effective human resource management in modern and progressive
organizational culture of meritocracy, maintaining high ethical and
professional standards, while providing enhanced value to all our
stakeholders, and contributing to society.”
VISION
“To be the bank of first choice in the region.”
CORPORATE OBJECTIVES
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PRODUCTS/ SERVICES OFFERED BY ASKARI BANK
LIMITED
Products and services are the major attribute of any company, which are
developed according to the needs of the customers of the company. Similarly
the product and services of the Askari Bank are also developed according to
the customer needs and wants and the expectation that customer attaches with
financial institutions. A product of Askari Bank includes all those services
which customer normally required for effective managing his business.
Askari Bank offers the following financial services;
1. Banking of Branch
2. Consumer Banking
Ask4Car
Personal Finance
Mortgage Finance
Master Credit Card
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CORPORATE INFORMATION
Board of Directors
Audit Committee
Rawalpindi – 46000
Pakistan.
Fax: (92 51) 927 2455 & (92 51) 927 2445
E-mail: [email protected]
Website
www.akbl.com.pk
Social Media
www.facebook.com/askaribankpakistan
www.twitter.com/askari_bank
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BUSINESS OPERATION
1. SWOT ANALYSIS
SWOT analysis is one of the most expedient technique or tool used in the
Strategic Management process for conducting the situation analysis of an
organization. SWOT refers to strengths, weaknesses, opportunities and
threats. SWOT analysis is a process where the management team identifies
the internal and external factors that will affect the company’s future
performance. The company’s strengths and weaknesses are the internal
factors. Opportunities and threats deal with factors external to the
company.Business can use a SWOT analysis, at any time, to assess a
changing environment and respond proactively.
STRENGTHS
Askari Bank has set its firm foot in Pakistan and has gained its strengths over
the period of time. Following are the strengths which have been observed:
One of the major strength of Askari bank limited is its huge Network. Askari
bank is a Pakistani bank which has network of 424 branches including 78
dedicated Islamic banking branches. The technological infrastructure of
Askari Bank is also very important which provides uniform service system
across the Bank’s network that will allow much higher levels of efficiency
and customer service.
Askari Bank believes in customer orientation. It offers huge flexibility in its
various services and thus it becomes very simple, easy, attracting and
affordable for the customer to choose the desired facility. The bank pays keen
Attention at customer relationship management and special purposely
developed software and technological instruments are used for this matter.
Askari bank is a subsidiary business unit of Army Welfare Trust. This is one
of the biggest strength for the bank because Army Welfare Trust has
established strong financial, industrial, technological and diverse market
matrix. They have a well-furnished logistics infrastructure.
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The main strength of AKBL Limited is that all of its branches are fully
computerized and they have latest software available to keep the records of
their customers account and other important information up-to-date. It
reduces manual work and provides good customer service.
Askari bank is one of the largest private banks with deposit base of 167.68
billion- showing constant growth over the period 1999 till day and with many
online branches in major cities of Pakistan.
WEAKNESSES
OPPORTUNITIES
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Askari bank as a largest private bank can also increase its market share by
producing goods, market oriented and customer needs satisfying products.
Islamic Banking is getting rapid success and repute among Muslim countries.
It has also been charted by some Muslim scholars. Being according to the
values and practices of Islam, it has won more trust of people. Currently,
Askari Bank gives Islamic Banking in some of its extensions. By offering its
Islamic Banking administrations in every last bit of its limbs, Askari Bank
can unquestionably have an edge over its rivals.
There is a huge pool of free MBA graduates who might be contracted to
accomplish professionalism on its organizational society. AKBL can engage
qualified professionals for providing specialized banking products and
services to their customers, reorganization of existing systems as well as
Infrastructure with de-centralized work processes. The human resource factor
plays a critical role maintaining the efficiency and profitability level of the
bank in future.
THREATS
Political instability and legal regulations are serious threats for organization
because the present economic, political and current circumstances of the
country are very discouraging for the banking industry. Government changes
Their policies and put different kind of taxes and regulation on the
organization. There are so many crises, like war against terrorism. These
factors ultimately affect the business activities in a very adverse manner.
Higher rate of inflation is a threat for bank. Prices of the product and services
are going up and up and unemployment is increasing very rapidly. They had
massively affected the purchasing power of common people. This is one of
the largest threats for it. So bank should adopt flexible policies to give relief
their customers.
Askari Bank is facing a strong competition by its major competitors Union
Bank and Bank Alfalah. These banks are growing very rapidly and are
continuously increasing their products and are marketing them aggressively.
Extensive promotional campaigns run by competitors are another threat for
AKBL.
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2. ORGANIZATIONAL STRUCTURE
BOARD OF DIRECTORS
President Support
Office
Group Head
Group Head Operation Corporation Banking
& Credit & Financial Institution
Electronic
Human Resource Retail Banking Corporate
Technology
Division Division Planning Division
Division
Business
Development
Division
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3. MARKETING STRATEGIES
Marketing strategy is an organization's strategy that combines all of its
marketing goals into one comprehensive plan. It is the foundation of a
marketing plan.Extension director, operational trough and business
advancement officer are somewhat included in the promoting and get
subsidizing from head office to advertise their special exercises. At AKBL,
Golra Mor, I saw that the operational office accompanies the showcasing
exercises which are managed by the operational director. They calls to clients
through phone and individual meet with the clients and apply the standard of
client relationship administration to pull in the client.Miss Robina functions
as a client administration officer (CSO) and meet with the customers to
persuade them to open the record in Askari bank and educate the clients
regarding the part of distinctive sorts of records.
ADVERSITING
Print Advertising
Print advertisements are another major way in which Askari Bank advertises
its product to the masses. Print media advertisements are mainly printed in
major English and Urdu newspapers across Pakistan. This type of marketing
is economical because many people like to read daily newspaper, so print
media is a good mode of advertising.
Electronic Advertising
TV ads for Askari Bank principally attempt to accentuation the 'INSPIRING
RELATIONS', message in its commercials, by indicating how its
administrations can help you with the diverse monetary issues that you
confront in your commonplace life.
4. COMPETITIVE STRATEGIES
Habib Bank Ltd. (HBL), United Bank Limited (UBL), Muslim Commercial
Bank (MCB), Allied bank Ltd. (ABL), Bank Alfalah Ltd. (BAF), The Bank
of Punjab (BOP), Standard Charted Bank Ltd. (SCB), Faysal Bank Ltd
(FABL),National Investment Bank Ltd. (NIB).
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WORK DESCRIPTIONS
Accounts Department
Clearing Department
Remittances Department
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the banker and customer due diligence must be done prior to establishment of
the relationship.
Account Opening Form:
Prior to opening of the account, the account opening form and all the related
documents must be scrutinized and approved by the branch manager
personally. It must be ensured that all columns of the account opening form
are correctly & properly filled and the customer has read & understood Rules
& Regulations for conduct of accounts that are printed on the reverse of the
account opening form. No column of the form should be left blank and
columns not applicable to a particular customer should be marked so to guard
against unauthorized additions.
The account opening form has following particulars;
• Title of Account
• Address
• CNIC Number
• Profession
• Telephone number may be of office, mobile or residential
CHEQUE BOOK
The cheque book is issued to all customers having account in bank or to those
who want to avail the facility of cheque book. First cheque book is issued to
customers who get the letter of thanks and requests for the issuance of cheque
book and first cheque book after opening of new account is issued free of
cost.
A Cheque book consists of:
• PLS 25 leaves or pages per order
• CD 50 leaves or pages per order
• CD 100 leaves or pages per order
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ATM
ATM is issued to all customers having account in bank or to those who want
to avail the facility of ATM. For this purpose ATM forms are filled by them.
ATM Application Form.
ACCOUNTS DEPARTMENT
In Accounts Department I worked with the record officer Mr. Adnan Iqbal.
On first day in this department, Mr. Adnan Iqbal gave me some basic
information regarding work. In this department, I also looked into liabilities
like bills payable. I learnt about the expenditures of the bank like phone
charges, generator charges, office rent, water charges, online connectivity
charges, protection overheads and so on.
In records, my significant assignments were to recheck customers account
action (cross check the measure kept by client is rightly recorded by
framework or not). Activity checking is carried out by checking whether the
qualities and record numbers in the sorted vouchers match that of the
movement and whether there is any missing action that is not in the vouchers.
CLEARING DEPARTMENT
The clearing branch is answerable for the clearing of all cheques that the
bank gets every day. It is the department where the funds are collected from
outwards and pay to bank’s own customers and collect funds from bank’s
customers and pay it to other banks out of city. To clarify this in simple
words ,we can say by stating example that an account holder of askari banks
presents cheque of some other bank.Now such cases are to be dealt by
clearing department. The department gathers all such cheques and later on
Verify the account and clears the amount from the correspondent bank. This
overall process is termed as clearing.
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Under it there are two processes
• Inwards Bill for Collection
• Outwards Bill for Collection
REMITTANCE DEPARTMENT
Remittance department deals in transfer of funds from one place to another.
Remittances are income generating source for bank. The in-control officer of
settlements branch is Mr.Umer. He let me know that Askari Bank Limited
offer four primary sorts of instruments that are utilized to exchange cash,
which are as follows:
• Demand Draft (DD) (intercity)
• Pay Order (PO) (intercity)
• Pay Slip
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ANALYSIS
In this section, I will discuss what I have learnt from this experience and how
work is done in the industry and the gap between actual work done and the
theory.
These 6 weeks have proven on me a hectic time but helped me a lot in my
understanding of different concepts of theory and their practical implications.
Let me first discuss the bitter reality I have learnt and that it is hard to do
anything without reference in industry.
Askari Bank Limited is a great spot to work with and it helped me to take in a
ton of things that I may not get generally. It was a test truly to check my
capacities and it guaranteed me climate I am equipped for finishing things
rightly or not. I have figured out how mechanized associations are getting to
be presently days. To work in such associations you must need to increase the
specialized information with respect to programming and so forth.
I am sure what I have learnt during these 6 weeks will prove excellent in my
future practical life. I have experienced with diverse circumstances and in
some cases I got puzzled how to manage yet now as I have confronted the
dangerous circumstances I know how to manage it and i got how to work
with people at workplace. Here I might want to say that environment of
Askari Bank is extremely agreeable and supportive for internees.
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CONCLUSION
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RECOMMENDATIONS
This is the fact that in this world nothing is perfect. In every field of life there
are some problems. But the best and successful institutions are those which
learn from the changing environment and competition. Doing internship at
Askari Bank was an interesting, gaining, grooming and ever remembering
experience. The highly cooperative staff; variety in tasks; dealing with
customers and documentation, were some of tasks that made me to gain a lot.
Though there every activity was at its elegance, but I am here giving some
suggestions that my thinking will be beneficial for the bank.
It has been observed that the workers were overburdened so they need to stay
at work late during the evening. They need to do extra minutes even in
Ramadan. So more workers should be hired in those departments where there
is need.
Askari Bank Limited may as well legitimately publicize and communicate
openly with the goal of attracting more clients.
Audit ought to be held inside. Rather there ought to be an Audit Department
in the limb to make review on regular schedule. This can get to be as
supportive.
The procedure of opening an account should be simplified. The account
opening form should be self-explanatory and include translation in Urdu for
those customers who are not able to read English. Because during my
internship I have seen a lot of customers who are unable to fill the account
opening form because of English.
The promotion of officers in Askari Bank Limited is without test and
interviews. The promotion policy must be too tight and transparent that no
One may have the chance to promote on criteria other than required
qualification, experience and performance.
Askari bank must expand the number of branches in order to compete well.
Pakistan is an agricultural country and most of its population lives in villages
and rural areas. But almost all of the branches of Askari bank are in urban
areas. It is very important for Askari Bank to pay serious attention to this
issue.
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REFERENCE LIST
Websites
http://www.scribd.com/doc/54151323/Internship-report-on-askari-bank
http://akbl.com.pk/
http://www.scribd.com/doc/44820820/Askari-Bank-Internship-Report-
2010#scribd
Search Engines
www.google.com
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