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Bank Alfalfa

Transcript of Business Comminication

AcknowledgmentIn The Name of Allah, the Most Beneficent, the Most Merciful All gratitude and thanks to almighty ALLAH the gracious, the most merciful and beneficent who gave us courage to undertake and complete this task. We are very much obliged to our ever caring and loving parents whose prayers have enabled us to reach this stage. We are grateful to almighty ALLAH who made us able to complete the work presented in this report. It is due to HIS unending mercy that this work moved towards success. We are highly indebted to our course instructor Ms.Syeda Habibah Hussain Rizvi for providing us an opportunity to learn about the Business communication and ethics and assign us to implement on Bank Al-Falah" which is vital ingredient of BBA program. We are very great full to our teacher for providing us guideline for the completion of this report. We feel great pride and pleasure on the accomplishment of this report.



Banking sector owes a crucial importance in the economy of any country through its vibrant functions. This is the deep motivation that geared up us to select the bank for our project. Moreover, the practice and familiarity observed and learned during this time period would also attest very helpful and alleviating in the awaiting proficient life. This report is an upshot of our observations and the information collected from Bank AlFalah, Pakistan. Bank Al-Falah posses an imperative importance in the Banking sector of Pakistan. It always remains the center of hustles in business activities. It always endows with great covenant of rally round in terms of funds and services. Although, such a small period of time is not enough to learn the complex operations of Bank Al-Falah Limited yet we made tough efforts to discuss them comprehensively in this report. We have view many Marketing and Management concepts to elaborate this report with the material read, listened and observed. We have strong belief that this report will guide and ease the readers to understand the operations and communication of Banking system and more significantly have good knowledge about Bank Al-Falah Limited, one of the most trusty and leading Bank in Pakistan. We hope that the readers will appreciate our report and sense that reading our report is not the wastage of time in any opinion.


EXECUTIVE SUMMERYFor successful market position, marketing, management, product and communication strategies are imperative in todays rapidly moving high-tech market. Companies need to take a new technologies or ideas and efficient management to develop a complete product that addresses a customer needs and propagate these needs through communication effectively in valuable market as well as executive flawlessly on bringing it to market. In this report we have tried to cover the marketing and management strategies by Bank Al Falah. Bank Al Falah was in corporate in June 21 st, 1997 its banking operations started from November 1st, 1997. The bank engaged in commercial banking and related services. The bank is currently operating through 223 branches. Bank Al Falah target market conceits of individual client as well as number of business organization. Bank Al Falah has segment the market on demographic, psychological and behavioral style to target maximum number of segments with different varieties of products suitable for each segment. In marketing terms this strategies in competitors is known as the Flank Attack &Frontal Attack. In this report we have discussed the marketing plan, organizational culture and communication and financial analysis of Bank Al Falah Limited comprising of segmentation, product & services, competitors analysis, positioning marketing mix, means of communication, HR and other departments carried by the Bank Al Falah. We have also briefly discussed the integrated marketing communication (IMC) being used by the Bank Al Falah to address its customers. We have tried our best to cater all of these aspects being followed by Bank Al Falah and hope that this report will help you explain your concepts about these strategies to a greater extent.


COMMERCIAL BANKING SCENARIO IN PAKISTANAt the time of independence in 1947, there were 38 scheduled banks with 195 offices in Pakistan but by December 31, 1973, there were 14 scheduled Pakistani commercial banks with 3,233 offices all over Pakistan and 74 offices in foreign countries. Nationalization of Banks was not done 1st January 1974 under the Nationalization act 1974 due to certain objectives. But it had negative effects on efficiency of the banking sector afterwards a privatization Commission was set up on January 22, 1991 and the commission transferred many banks to the private sector i.e., MCB & ABL. The government approved & permitted the establishment of 10 new private banks in 1991. Hence many new private banks have incorporated. Since then, BANK ALFALAH is one of the namely established private banks in Pakistan.


HistoryBank of Credit & Commerce International (BCCI) was a Pakistan based bank established by Mr. Agha Hassan Abdi from UBL in association with U.A.E and Europe. BCCI has its branches in 74 different countries of the world. It had its 3 branches in Pakistan. In 1991, the BCCI was banned when is was accused by European countries that the bank was involved in some illegal operations with Gulf countries. The major reason behind European accusation was that BCCI was of Islamic mode. There for the bank was closed due to international pressure. Then its 3 Pakistani branches were taken over by the Government of Pakistan which were named as Habib Credit and Exchange Bank (HCEB) and these were working as subsidiary of Habib Bank Limited. Following the privatization in July 1997, Habib credit and Exchange Band assumed the new identity of Bank Alfalah on February 25, 1998. It is now Abu Dhabi based bank as the family of Sheikh Nahayan Mubarik Al-Nahayan purchased 70% of its shares and 30% shares remained with Habib Bank on behalf of Government of Pakistan. It has its 18 branches in 8 cities of Pakistan at that time. Charged with the strength of Abu Dhabi group and under the leadership of Sheikh Nahayan Mabarak Al-Nahayan, Minister of Higher Education and Scientific Research, Government of Abu Dhabi and a prominent member of Royal Family, the bank is energized with the vision, envisaging the development of various sectors in Pakistan.




Al Falah Limited was incorporated in June 21st, 1997 as a public limited

company under the Companies Ordinance 1984. Its banking operations began from November 1st, 1997. The bank is engaged in commercial banking and related services as defined in the Banking companies ordinance 1962. The Bank is currently operating through 223 branches in Pakistan with the registered office at B.A. Building, I.I. Chundrigar, Karachi. Since, its inception as the new identity of H.C.E.B after the privatization in 1997, the management of the bank has implemented strategies and policies to carve a distinct position for the bank in the market place. Strengthened with the banking of the Abu Dhabi Group and driven by the strategic goals set out by its board of management, the Bank has invested in revolutionary technology to have an extensive range of products and services. This facilitates their commitment to a culture of innovation and seeks out synergies with clients and service providers to ensure uninterrupted services to its customers. The bank perceived the requirements of customers and matches them with quality products and service solutions. During the past five years, bank has emerged as one of the foremost financial institution in the region endeavoring to meet the needs of tomorrow as well as today. To continually upgrade the quality of service to the customers, training of team members in all the integral aspects of banking, customer service and IT was specially focused. The portfolio concentrates on all aspects of conventional banking as well as the financial needs of corporate sector. Dynamic and high value product includes Car Financing, Home Financing, Rupee Travelers Cheques, Credits Cards, Debit Cards, On line Banking, ATM and consumer Durables. In addition to this, Islamic Banking Division is a recent initiative which operates as separate branch. It offers Shariah Compliant products through a network of five branches, which will increase to 50 by the year 2007. The bank is committed to combine all it s energies and resources to bring high value, security and satisfaction to its customers, employees and shareholder. The Bank has invested in revolutionary technology to have an extensive range of -6-

products and services. This facilitates commitment to a culture of innovation and seeks out synergies with client and service providers to ensure uninterrupted services to its customers.

mission statementVision:" To be the premier organization operating locally & internationality that provides the complete range of financial services to all segments under one roof. "

Mission:" To develop & deliver the most innovative products, manage customer experience, deliver quality services that contributes to brand strength, establishes a competitive advantage and enhances profitability, thus providing value to the stakeholders of the bank."

Slogan: THE CARING BANK " Lets Look Ahead Towards a Brighter Future Together "

Bank Believes:

"A tribute to our heritage" Every door leads to our customers. -7-

The legacy of leadership stands as our guiding light. The strength of chain relies on the strength of each link. A keen ear is a key to understanding. Achievement is nothing without target. Time is our most valuable asset. Performance is nothing without the ability to measure it.

long term Objectives To make sure that all new