Internship Report on United Commercial Bank Ltd.

Internship Report

On

United Commercial Bank Ltd.

Submitted To:

Khandoker Asef Safa Kabir Upal

Lecturer

School of Business

North South University

Submitted By:

Azas Shahrier

Student ID: 093-0088-030

School of Business


Date of Submission:

March, 2015

Course: BUS498 (Internship)

“Fall 2014”

Letter of Transmittal March, 2014

Khandoker Asef Safa Kabir Upal

Lecturer

School of Business


Subject: Submission of Internship Report on UCBL.

Dear Sir,

It was a great opportunity for me to work at United Commercial Bank as an intern to gather real-life

experience. I am highly delighted to submit the internship report on United Commercial Bank in Dhaka. I

have tried my best to prepare an effective report and hope that my report will give you the idea of how

United Commercial Bank executes its deal with clients.

I was assigned to the corporate branch of UCBL. I have tried my level best to fulfill all my requirements

of this course and tried to follow my supervisor‟s instructions while preparing this report. This gave me

the opportunity to theoretical knowledge in practical field, which will help me in my future career.

It would be a profound pleasure for me if the report can serve its purpose. I have put my sincere effort to

give this report a presentable shape and make it as informative and precise as possible. I thank you for

providing me with this unique opportunity.

Sincerely Yours,

_ _ _ _ _ _ _ _

Azas Shahrier

ID No: 093-0088-030

Program: BBA (Major in Marketing)

School of Business


DECLARATION

I am Azas Shahrier, the student of Bachelor of Business Administration major in Marketing, North South

University solemnly declare that this report on United Commercial Bank Limited has been authentically

prepared by me. While preparing this report, I have not breached any copyright act intentionally. I further

declare that, I did not submit this report earlier to any other institution for awarding any degree, diploma,

or certificate.

_ _ _ _ _ _ _ _

Azas Shahrier

ID No: 093-0088-030

Program: BBA (Major in Marketing)

School of Business


Acknowledgement

First of all I would like to express my gratitude to the Almighty Allah, whose invisible guidance helped

me to complete this report.

This report has not only gave me some invaluable experience, at the same time it has made me indebted

some extremely helpful and knowledgeable people. By working in United Commercial Bank Limited as

an intern I have learnt so many things which are very valuable for me in future.

At first I want to express my deep gratitude to my Academic Supervisor Mr. Khandoker Asef Safa Kabir

Upal. Without whom this report would not have been possible to accomplish. I am so honored to have

him as my supervisor who taught me about professionalism and empathy which are the key factors in

corporate success.

Finally, I am very thankful to Mr. Ikram Farid Chowdhury, First Vice President & Manager of UCBL,

Bashundhara R/A Branch & Mr. Mohammad Shafiqul Islam, Senior Executive Officer & Manager

Operation of Bashundhara R/A Branch, Dhaka for their constant support, guidance and supervision for

preparing the report. I would like to thank all the personnel working at United Commercial Bank Ltd.,

Bashundhara R/A Branch. They made the environment congenial and favorable for me to understand the

task. Without their assistance and co-operation, this report might not have seen the light of day.

And last but not the least; I would like to thank my parents for making me what I am today. Thanks to

their enormous effort without whom, I would not have been able to accomplish my goals as well as learn

the moral values.

I really enjoyed a lot every moments like internship period to preparing final report. I hope that it will

help me in my future professional work. Moreover I like to thank everyone who has helped me for

preparing this report and making it a memorable journey.

Table of Contents

EXECUTIVE SUMMARY……………………………………………………………………………......01

CHAPTER ONE: INTRODUCTION

1. INTRODUCTION……………………………………………………………………………03

1.1 ORIGIN OF THE REPORT…………………………………………………….04

1.2 OBJECTIVE OF THE REPORT…………………………………………….04-05

1.3 SCOPE OF THE STUDY……………………………………………………….05

1.4 METHODOLOGY……………………………………………………………...05

1.5 NATURE OF DATA…………………………………………………………....06

1.6 PRIMARY DATA COLLECTION………………………………………….06-07

1.6.1 DIRECT OBSERVATIONDURING INTERNSHIP

PERIOD…………………………………………...06-07

1.6.2 FACE TO FACE TALKS…….………………………07

1.6.3 PRACTICAL DESKWORK………………………….07

1.6.4 TAKE EXPERT OPINION FROM CONCERNED

OFFICIAL…………………………………………….07

1.6.5 INFORMAL CONVERSATION WIITH THE

CLIENTS……………………………………………...07

1.7 SECONDARY DATA COLLECTION…………………………………….07-08

1.8 LIMITATIONS………………………………………………………………….08

CHAPTER TWO: OVERVIEW OF THE ORGANIZATION

2. COMPANY BACKGROUND……………………………………………………………….10

2.1 HISTORY……………………………………………………………………………11

2.2 MANAGEMENT……………………………………………………………………11

2.3 BOARD OF DIRECTORS………………………………………………………11-14

2.4 LIST OF DIRECTORS…………………………………………………………..14-15

2.5 VISION……………………………………………………………………………...16

2.6 MISSION…………………………………………………………………………….16

2.7 STRATEGIC MANAGEMENT…………………………………………………….16

2.8 OBJECTIVES……………………………………………………………………….16

2.9 INFORMATION OF THE DEPARTMENTS…………………………………...17-31

2.9.1 OVERVIEW OF THE DEPARTMENT AND THE

PEOPLE......................................................................................17

2.9.2 DEPARTMENTS OF UNITED COMMERCIAL

BANK………………………………………………………….17

2.9.3 GENERAL BANKING………………………………………..17

2.9.4 CASH SECTION………………………………………………18

2.9.5 PROCEDURE OF CASH RECIEPT………………………….18

2.9.6 PROCEDURE OF CASH PAYMENT…………………….18-19

2.9.7 CASH BOOK BALANCE…………………………………….19

2.9.8 MAINTENANCE OF CASH REMITTANCE………………..20

2.9.9 ONLINE BANKING OPERATIONS…………………………20

2.9.10 ACCOUNT OPENING MANAGEMENT………………...20-21

2.9.11 CREDIT MANAGEMENT……………………………………21

2.9.12 ORGANIZATIONAL STRUCTURE FOR CREDIT

OPERATION…………………………………………………..22

2.9.13 CREDIT ADMINISTRATION FLOWCHART………………23

2.9.14 LOAN & ADVANCES…………………………………….24-25

2.9.15 CREDIT COMMITTEE……………………………………….25

2.9.16 FOREIGN EXCHANGE DEPARTMENT………………...25-30

2.9.17 GENERAL ADVANCE DEPARTMENT OF UCB…………..31

2.9.18 INFORMATION TECHNOLOGY OF UCB………………….31

CHAPTER THREE: SERVICE OFFERING & FEATURES

3. SERVICE OFFERING………………………………………………………………….........33

3.1 CONSUMER CREDIT (RETAIL) BANKING AT UCB…..…………………...33-34

3.2 CONSUMER CREDIT SCHEMES OF UCB…………………..……………….34-35

3.3 CAR LOAN…………………………………………………………...……………..35

3.4 DOCTORS‟ LOAN………………………………………………………...………..35

3.5 HOUSEHOLD DURABLE LOAN……………………………………………...35-36

3.6 MARRIAGE LOAN…………………………………………………………………36

3.7 ANY PURPOSE LOAN………………………………………………………....36-37

3.8 EDUCATION LOAN………………………………………………………………..37

3.9 HOSPITALIZATION LOAN……………………………………………………37-38

3.10 LOAN AGAINST SALARY……………………………………………………38

3.11 TRAVEL LOAN………………………………………………………………...39

3.12 CNG CONVERSION LOAN…………………………………………………...39

3.13 OBJECTIVE OF THE CONSUMER CREDIT SCHEME………………….39-40

3.14 COMMERCIAL BANKING……………………………………………………40

3.15 FUNCTIONS OF UCBL………………………………………………………..40

3.16 VALUES OF UCBL…………………………………………………………….41

CHAPTER FOUR: PORTFOLIO OF THE ORGANIZATION

4. OPERATIONAL NETWORK……………………………………………………………….43

4.1 CORPORATE INFORMATION………………………………………………..44

4.2 EMPLOYEES AT UCBL BASHUNDHARA BRANCH………………………45

4.3 BLUEPRINT OF THE UNITED COMMERCIAL BANK LTD. –

BASHUNDHARA BRANCH……………………………………………………….46

CHAPTER FIVE: CONTRIBUTION TO THE ORGANIZATION

5. ASSIGNMENT AND CONTRIBUTION TO THE ORGANIZATIION……………………48

5.1 DUTIES/RESPONSIBILITES AT UCB……………………………………..…48

5.2 DAILY WORK/JOB RESPONSIBILITIES………………………………...48-50

5.2.1 GENERAL BANKING…………………………………………..49

5.2.2 CHEQUE CLEARING…………………………………………...49

5.2.3 LOAN SECTION………………………………………………...49

5.2.4 FOREIGN EXCHANGE…………………………………………50

5.2.5 DIFFERENT ASPECTS OF JOB PERFORMANCE……………50

CHAPTER SIX: LESSONS FROM INTERNSHIP

6. LESSONS FROM INTERNSHIP EXPERIENCE…………………………………………...52

6.1 INTERACTION WITH SUPERVISOR AND COWORKERS……………..52-53

6.2 DEALING WIITH DIFFICULTIES…………………………………………….53

6.3 DIFFERENCES BETWEEN EXPECTATION AND EXPERIENCE……...53-54

6.4 INFLUENCE OF INTERNSHIP IN CAREER PLAN………………………54-55

6.5 REDOING INTERNSHIP……………………………………………………….55

CHAPTER SEVEN: THE CONCLUDING PART

7. SWOT ANALYSIS OF UNITED COMMERCIAL BANK LIMITED……………………..57

7.1 MAJOR FINDINGS……………………………………………………………..58

7.2 RECOMMENDATION………………………………………………………….59

7.3 COLCLUSION…………………………………………………………………..60

7.4 REFERENCES…………………………………………………………………..61

7.5 APPENDIX……………………………………………………………………...62

7.5.1 CERTIFICATE OF SUCCESSFUL COMPLETION OF

INTERNSHIP……………………………………………………………#

7.5.2 WEEKLY JOURNALS OF TWELVE WEEKS……………..63-89

7.5.3 ABBREVIATIONS………………………………………………90

Table of Figures

FIG-1: PRIMARY AND SECONDARY DATA SOURCES………………………………………………………………………………..06

FIG-2: DEPARTMENT OF UNITED COMMERCIAL BANK…………………………………………………………………………..17

FIG-3: CASH INSURANCE LIMIT…………………………………………………………………………………………………………...…19

FIG-4: OPERATIONAL STRUCTURE OF CREDIT OPERATIONS…………………………………………………………………..22

FIG-5: CREDIT ADMINISTRATION FLOWCHART………………………………………………………………………………………23

FIG-6: LOAN AND ADVANCE…………………………………………………………………………………………………………………..24

FIG-7: CONTINUOUS LOAN…………………………………………………………………………………………………………………….24

FIG-8: FOREIGN EXCHANGE DEPARTENT……………………………………………………………………………………………….26

FIG-9: FLOWCHART OF IMPORT PROCEDURE………………………………………………………………………………………..27

FIG-10: FOREIGN REMITTANCE………………………………………………………………………………………………………………30

FIG-11: SERVICES OF UCBL…………………………………………………………………………………………………………………….33

FIG-12: CREDIT SCHEMES…………………………………………………………………………………………………………………34-35

FIG-13: THE HIERARCHY OF UCBL………………………………………………………………………………………………………….43

FIG-14: CORPORATE INFORMATION………………………………………………………………………………………………………44

FIG-15: CORPORATE INFORMATION OF UCBL BASHUNDHARA R/A BRANCH……………………….………………..45

FIG-16: BLUEPRINT OF THE 1ST FLOOR OF UCBL BASHUNDHARA R/A BRANCH……………………….……………..46

FIG-17: BLUEPRINT OF THE 2ND FLOOR OF UCBL BASHUNDHARA R/A BRANCH……………………….…………….46

FIG-18: SWOT ANALYSIS OF UCBL………………………………………………………………………………………………………….57

Executive Summary

Predominantly UCB has been indentified and perceived as a bank working only in the corporate arena.

With introduction of retail banking, the image is gradually shifting where individuals have started to

believe that UCB is not only a bank where the corporate clients are only entertained; this is also the

bank where individual banking needs is being attended.

Since the launch of Retail Banking in February 2009 the bank has achieved considerable business

growth and in a very short time the bank has established itself as one of the leading brands in Retail

Banking Sector through its wide range of personal banking products. However, as a first generation

bank, the quality of service remains a big challenge to specially attract the high net-worth individual as

customers.

But one of the key contributors to retail success has always been the organic growth from its high-end

segment of customers. Although this segment constitutes less than 1% of total customer base but

contributes 23% of total consumer deposits. In order to retain, deepen and grow this niche market and to

recognize and reward their value to the bank, it is felt that there is a need to provide differentiated

service to them.

General Banking is the starting point of the entire bank operation. General Banking department aids in

taking deposits and simultaneously provides some ancillaries services. It provides those customers who

come frequently and those customers who come once for banking to enjoy ancillary services. In some

general banking activities, there is no relation between banker and customer. On the other hand, there are

customers with whom banks are doing its businesses frequently. It is the department, which provides day-

to-day services to the customers. Each day it receives deposits from the customers and meets their

demand for cash by honoring cheques. Employees open new accounts, demit funds, issue bank drafts and

pay orders etc. Since bank is confined to provide the service every day, general banking is also known as

retail banking. Under General Banking Division, I was working as an intern in the front desk. This

department mainly provides service by opening various deposit accounts, saving scheme to customers for

a wide variety of purposes. They are always on the run to search for new customers. Later on I was

transferred to other departments of the branch to enrich my knowledge on bank working strategies.

This report is based on finding out the company policy, structure, working strategies etc. The overall

objective to complete internship from United Commercial Bank Limited is to identify critical problems as

well as come up with analytical roles. This must be done with a view to forecasting the firm's future

prospective. At the end part of the report I have stated some recommendations, which will be helpful for

banks to recover all the weaknesses.

CHAPTER ONE:

INTRODUCTION

UNITED COMMERCIAL BANK LIMITED

1. Introduction

United Commercial Bank Ltd. (UCB) is a Bangladesh based financial institution that provides banking

services. The services include personal and business banking, loans, credit cards, online banking and

money transfer services. The bank operates in Bangladesh, where it is head quartered in Dhaka. With its

firm commitment to the economic development of the country, the Bank has already made a distinct

mark in the area of Private Sector Banking through personalized service, innovative practices, dynamic

approach and efficient Management. The Bank, aiming to play a leading role in the economic activities

of the country, is firmly engaged in the development of trade, commerce and industry through a creative

credit policy.

UCB Sponsored by some dynamic and reputed entrepreneurs and eminent industrialists of the country

and also participated by the Government, UCB started its operation in mid 1983 and has since been able

to establish one of the largest networks of 139 branches among the first generation banks in the private

sector.

1.1 Origin of the Report

Internship Program of North South University is an important requirement for the graduation of BBA

students. The main purpose of internship is to get the student exposed to the job world and this study is a

partial requirement of the Internship program of BBA curriculum at the North South University. Being an

intern the main challenge was to implement the theoretical concepts into real life experience.

The internship program and the study have following purposes:

To experience the real Banking world.

To get and organize detail knowledge on the job responsibility.

To compare the real scenario with the knowledge gained in North South University.

To fulfill the requirement of BBA Program.

To apply theoretical knowledge in the practical field.

To find out the overall features of UCB.

This report is the result of three months long internship program conducted in United Commercial Bank

and is prepared as a requirement for the completion of the BBA program of North South University. As a

result I needed to submit this report based on the Branding of UCB services.

1.2 Objective of the Report

The objectives of the report are;

An internship helps to sample real-life work settings, and use them as laboratory opportunities to

apply the student‟s knowledge gained throughout the program.

An internship helps to learn new skills as well as hone existing ones, particularly those related to

time-management, interpersonal skills, organizational skills, communication skills etc.

An internship helps to transition from a nurtured state to one in which an intern has much greater

control.

An internship allows us to prove ourselves.

An internship allows building professional network.

More specifically, this study entails the following aspects:

To give an overview of United Commercial Bank.

To focus on the products and services, facilities provided to clients of United Commercial Bank.

To know how UCB is managing its Corporate Goal.

To know whether they are following Bangladesh Bank‟s manual.

To analyze the work process and monitoring system of Advance department.

To get a clear idea about Bank and how it runs and what function it does.

To gather theoretical knowledge of the general banking function.

To search expectations of the customers regarding the service level of the bank.

1.3 Scope of the Study

As a student of Bachelor of Business Administration (BBA) every student has to conduct a practical

orientation in any organization for fulfilling the requirements of the 12 weeks Internship Program. The

main purpose of the program is to introduce the students to the real corporate world. My place of

internship was “United Commercial Bank”, one of the leading banks of Bangladesh. I have worked for

12 weeks at General Banking department, Loan Section and Foreign Exchange Department.

I was required by the one desk to other desk. I have worked on the conventional banking system of

United Commercial Bank Limited. The banking division in internship is practical report of the general

banking division. The internship report of the University is an integral part of the BBA program. So it

is obligatory to undertake such task by the students who are desirous to complete and successfully

complete their BBA degree. This also provides an opportunity to the students to minimize the gap

between theoretical and practical knowledge. During the internship the teachers of the department are

attached to actively and constantly guide the students. Students are required to work on a specific topic

based on their theoretical and practical knowledge acquired during the period of the internship program

and then submit it to the teacher. That is why I have prepared this report.

United Commercial Bank Limited is one of the new generation banks in Bangladesh. The scope of the

study is limited to the Bashundhara R/A Branch only. The report covers the organizational structure;

background, functions and the performance of the bank. I have mainly worked in the General Banking

department so that, my report covers the way of services provided by UCB. While preparing this report,

I have not faced not any limitation from the employees of the branch. Employees of General department

as well as the other departments helped me a lot and I have used secondary data which was available to

me.

1.4 Methodology

While conducting the study various data were collected from various sources. The data collected are

divided according to their different natures and sources. The study is done with the help of the following

data:

1.5 Nature of Data

In this report both Primary and Secondary sources of data is used. The project was basically executed by

gathering information through random conversations. Information was also gathered by observing the

client's attitude and behavior. Finally I have conducted an observation method the factors that may affect

the policies and practices.

Fig-1 Primary and Secondary Data Sources

1.6 Primary data collection

The primary data are those which are collected fresh and for the first time and thus happen to be original

in character.

I have used three techniques of Primary Resources for my report and they are as followed:

Direct observation during the internship period of the bank.

Face to Face talks.

Practical deskwork.

Take expert opinion from concerned officials.

Informal conversation with the clients.

1.6.1 Direct observation during the internship period of the bank

Observation is the process of recognizing and noting people objects and occurrences rather than asking

for information. Informal observations remove the elements of bias and effect of reaction from research.

1.6.2 Face to Face Talks

As the field of study is limited within UCB, it was decided that information will be collected by direct

face to face conversations. Face to face talks were held with some clients and also Bank Manager, Head

of Sales and Marketing and Officers. They all have helped me a lot to gather the information about UCB

services.

1.6.3 Practical Deskwork

When I was working at UCB, I have worked in different desk. While working for the Company I have

collected the data which I needed to accomplish the report.

1.6.3 Take Expert Opinion from Concerned Officials

During my internship the officers not only helped to do the desk work but also Guide me for my

internship report .Without their help the report could not be completed. They shared me many things

regarding their products and features, which helped me a lot.

1.6.4 Informal Conversation with the Clients

Sometimes I used to get busy in a conversation with the client to get my certain answer. The customers

are very friendly and share their opinion with me.

In the end, I can say that for collecting primary information, regular diary and the training session of my

internship period helped me a lot.

1.7 Secondary data collection

Previous internship reports

Annual Report of UCB

Different papers of UCB

Various files, balance sheet and various documents

Websites

An intensive way of critical work was required to acquire relevant knowledge. Relevant information like

internal documents, books, reports etc. have been reviewed with a view to increase the knowledge and

regarding the organization. Above all the storehouse of knowledge, “the internet” has also been a big part

of the gaining knowledge regarding accomplishing the final report as well as the weekly journals.

1.8 Limitations

While preparing the report I have faced some limitations which are mentioned here:

Three months time is not enough for such an extensive study to know vastly about a

organization and how it works. It is very difficult to collect all the required information of the

organization in such a short period.

In the website there was lack of information. So I have asked everyone to fulfill my queries to

prepare my report.

Our courses on marketing were based on theories. Sometimes it was difficult to relate all the

practices of operation to the theories.

The main constrain of the study was insufficiency of information and critical works, which were

required for the journals. There are various information the bank employee cannot provide due to

security and other corporate obligations.

Since the bank personnel were very busy, they could not provide me enough time. Lack of

opportunity to visit more than one branch.

Data and information of the organization used in this report are mostly from secondary sources.

Due to some legal obligation and business secrecy banks reluctant to provide more

analytical/critical works. For this reason, the study limits only on the available works and certain

degree formal and informal and informal conversation.

CHAPTER TWO: OVERVIEW OF THE ORGANIZATION

2. Company Background

In the backdrop of economic liberalization and financial sector reforms, a group of highly successful local

entrepreneurs conceived an idea of floating a commercial bank with a different outlook. For them it was

competence, excellence and consistent delivery of reliable service with superior value products.

Accordingly, United Commercial Bank Limited was created and commencement of business started on

17th April 1980.

United Commercial Bank Ltd. is operating as a scheduled bank under the banking license issued by

Bangladesh Bank, the Central Bank of the country on April 17, 1980 through the opening of its Motijheel

Branch at Adamjee Court Annex Building, Motijheel commercial area, Dhaka-1000. UCBL was actually

registered under the Companies Act of 1913 with its registered office at 5, Rajuk Avenue, Motijheel

commercial area, Dhaka-1000 which was later shifted to Adamjee Court Annex Building, 119-120,

Motijheel commercial area, Dhaka-1000.

As a fully licensed commercial bank, United Commercial Bank Limited has being managed by highly

professional and dedicated team with long experience in banking. They constantly focus on understanding

and anticipating customer needs. As the banking scenario undergoes changes so does the bank and it

adjusts and repositions it to the changed conditions.

In its 14th year of operation in 2009, United Commercial Bank has made substantial headway in terms of

business growth, profitability and establishing its image as one of the leading private commercial banks.

Its march towards reaching greater heights in operation continues with full vigor and enthusiasm. United

Commercial Bank has made significant progress within a very short period of its existence. The bank has

been graded as a top class bank in the country through internationally accepted CAMEL Rating. The bank

has already occupied an enviable position among its competitors after achieving success in all areas of

business operations.

2.1 History

United Commercial Bank Limited incorporated on 26 June, 1983 as a public company with limited

liability under the Companies Act 1994. The bank obtained permission to commence business with effect

from 27 June, 1983 and started banking operations on 29 June 1983 with an authorized capital of Tk. 100

million divided into 1 million ordinary shares of Tk. 100 each. A number of leading figures from industry

and business in the country met in the eighties of last century the construction of a commercial bank. The

result was one of the first generation banks in the private sector in the country. For example, United

Commercial Bank Limited (UCBL) was, in fact, and the GOB was kind enough to participate as a

shareholder.

2.2 Management

The Bank has in its Management a combination of highly skilled and eminent bankers of the country of

varied experience and expertise successfully lead by Mr. M. Shahjahan Bhuiyan, a dynamic banker, as its

Managing Director and well educated young, energetic and dedicated officers working with missionary

zeal for the growth and progress of the institution.

2.3 Board of Directors

Chairman

Mr. M. A. Hashem

Mr. M. A. Hashem, prominent business tycoon of the country & former Member of Parliament, is the

Chairman of UCB. He is also the Chairman of Partex Group, one of the largest conglomerates in the

private sector manufacturing and service based enterprises in Bangladesh.

Mr. Hashem, son of Late Al-Haj Abdul Aziz, was born in a respectable Muslim family of Wasaqpur,

Begumganj in the district of Noakhali. In the development tale of Bangladesh, his prudential

initiatives & entrepreneurship will be remembered for a long time.

A reputed Industrialist and humanitarian, Mr. Hashem is actively associated with many educational and

socio-cultural organizations of the country. He is also the founder member and current Chairman of

Trusty Board of North South University, member of Board of Trustees of the IBAIS University, founder

of M. A. Hashem Diabetic Hospital, Chowmuhani, M. A. Hashem University College, Kazirhat,

Begumganj and Al-haj Abdul Aziz Lillah Boarding & Orphanage at Chowmuhani, Noakhali. He

patronizes a number of social, cultural, charitable & sporting organizations of the country as well.

Vice Chairman Mr. Sharif Zahir

Mr. Sharif Zahir, promising industrialist of the country, is the Vice Chairman of UCB.Mr. Sharif

Zahir is at the same time Managing Director of Ananta Casual Wear Ltd, Ananta Properties Ltd,

Ananta Energy Resources Ltd, National Finance Ltd, Confidence Industries Ltd, Ananta Apparels

Ltd, Ananta Fashion Ltd, Ananta Group Ltd, Ananta Denim Technology Ltd. He attained his

Graduation from University of Texas at Austin, USA in Finance & Economics. Government of

Bangladesh has honoured Mr. Sharif Zahir as CIP (Commercially Important Person) for his

contribution to the national economy. With his brilliance and originality, he is contributing in

transforming UCB as a transparent & accountable organization.

Director and chairman,Excutive Commitee Anisuzzaman Chowdhury Mr. Anisuzzaman Chowdhury, a young and dynamic industrialist of the country is the

Chairman of Executive Committee of UCB.

He is also Director of Ronny Chemical Industries Ltd. He holds Graduation in Business

Administration from Palm Beach Atlantic College of USA. Mr. Anisuzzaman Chowdhury, was born

in a glorious & highly respectable Muslim family of Anwara under Chittagong District of the

country.

With his brilliance and prudence, he has been contributing in UCB to reach its vision through providing

best banking services in the Country.

Director & Chairman, Audit Committee Muhammad Zahirul Alam

Lieutenant General Abu Tayeb Muhammad Zahirul Alam, rcds, psc (retired), one of the

Independent Directors of UCB, is the Chairman of Audit Committee.

He served Bangladesh Military for long 35 years with great honor and dignity. He was adjudged as the

best all round Gentleman Cadet and was awarded the “Sword of Honor” in Bangladesh Military

Academy. In his career, he held the appointment of Director of Military Training, commanded two

Infantry Divisions and had been the Commandant of National Defense Collage (NDC), Bangladesh.

He is also a peace keeper and has two United Nations Peacekeeping Missions to his credit. In the final

leg of his career, he held the appointment of Force Commander of the United Nation Multinational

Peace Keeping Force in Liberia, West Africa.

He holds a Master′s Degree in Arts from King′s College London, United Kingdom and is a graduate of

prestigious Royal College of Defense Studies (RCDS), United Kingdom. He also attended a short

course at Harvard University, USA. After retirement, besides teaching in National Defense College, he

has interest in playing golf.

Chairman, Risk Management Committee Mr. M. A. Sabur

Mr. M. A. Sabur, leading Industrial entrepreneur, is the Chairman of Risk Management Committee

of UCB. He is also the Chairman of Masco Group and Maxim Group, a leading export house in

textile sector of the country.

An MBA, Mr. Sabur is the son of Late Alhaj Raham Ali. He belongs to a respectable Muslim family

and hails from Kanchon of Narayanganj district. He is a member of IBA Alumni Association & also a

golfer being lifetime member of Kurmitola Golf Club, Dhaka and Bhatiary Golf Club, Chittagong. Mr.

Sabur is actively associated with various educational & socio-cultural organizations of Dhaka &

Chittagong.

This illustrious personality is guiding the Bank in exploring new opportunities of business

procurement in this competitive market.

2.4 List of Directors

Mr. Showkat Aziz Russell Mrs. Nur Nahar Zaman

Mr. Md Jahangir Alam Mr. Tanvir Khan Mr. Hajee Younus Mrs. Sultana Rezia Begum

Mr. Ahmed Arif Billah Dr. Salim Mahmud

Mr. Md Abdul Karim Mr. Syed Mohammed Nur Uddin

Mr. Hazi MA Kalam Mr. Sabbir Ahmed

Managing Director Additional Managing Director & Company Secretary Mr. Muhammed Ali Mr. Mirza Mahmud Rafiqur Rahman

2.5 Vision

To be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital adequacy, asset

quality, sound management and profitability having strong liquidity.

2.6 Mission

To build United Commercial Bank Limited into an efficient, market driven, customer focused institution

with good corporate governance structure. Continuous improvement in our business policies, procedure

and efficiency through integration of technology at all levels.

2.7 Strategic Statement

To have sustained growth, broaden and improve range of products and services in all areas of banking

activities with the aim to add increased value to shareholders‟ investment and offer highest possible

benefits to our customers.

2.8 Objectives

To build up strong pillar of capital, To promote trade, commerce and industry, To discover strategies for

achieving systematic growth, To improve and broaden the range of product and services, To develop

human resource by increasing employment opportunities, To enhance asset of shareholders, To offer

standard financial services to the people, To keep business morality, To develop welfare oriented banking

service, To offer highest possible benefit to customers.

Our Vision

Our Mission

2.9 Information of the Departments

2.9.1 Overview of the Department and the People

Mr. Ikram Farid Chowdhury is the First Vice President & Head of Branch of United Commercial

Bank Limited Bashundhara R/A. But the name of my supervisor is Mohammad Shafiqul Islam who is

the Senior Executive Officer & Manager Operation of the branch. There are 18 employees listed in

this branch and with other staffs the numbers reach almost 25. Every department consists of Senior

Executive Officer, Executive Officer, Principal Officer, Senior Officer, Officer, Junior Officer, Cash

Officer, and Assistant Cash Officer. All employees try to work as team members and they need to

give feedback to the Branch Manager and the Second Manager of the branch. The departments are

General Division, Cash, Transfer, Clearing, Accounts, Loan and LC, Card Division, Foreign

Exchange Remittance, Cash Remittance, and Retail and Sales.

The behavior of each co-worker is very good. They never misbehave even in the worst time. But

they have tendency to get busy with only works and no talks. But sometimes they make fun out of

the blue and enjoy their day by socializing with each other. They always greet each other every

time and ask for company while going for lunch or any other break.

2.9.2 Departments of United Commercial Bank:

Commercial Bank divided its branch into 3 departments.

Fig-2 Dept. of United Commercial Bank

2.9.3 General Banking

General Banking is the starting point of all the banking operating. General Banking department aids in

taking deposits and simultaneously provides some ancillaries services. It provides those customers who

come frequently and those customers who come one time in banking for enjoying ancillary services. It is

the department, which provides day-to-day services to the customers. Every day it receives deposits from

the customers and meets their demand for cash by honoring cheques. It opens new accounts, demit funds,

issue bank drafts and pay orders etc.

2.9.4 Cash Section

Cash section demonstrates liquidity strength of a Bank. It is also sensitive as it deals with liquid money. It

is the most important department that is contributing to the earning of the bank in terms of goodwill and

customer satisfaction with their quality and prompt services.

Cash department of UCB Rajshahi Branch is well equipped and decorated. There is also electronic

counted machine and computers with online system in this department. Balance of account can be seen

with few seconds. So cash payment can be made very promptly. Transaction involving cash is called cash

transactions. The cheques/ instrument / vouchers which are paid in cash over the counter are cash

transactions. It has two types of services:

Cash Receipt

Cash Payment

2.9.5 Procedure of Cash Receipt

The depositor will use the prescribed deposit slip supplied by the bank to deposit cash /cheques/demand

draft/pay order etc. All cash receipt voucher shall be received by the teller. Cash receipt counter performs

its job as follows:

First checks if the deposit slip is properly filled up containing title of account, account number,

date, amount in word and figures and depositors sign.

Cash is received by the cash receiving officer, twice counted and matched with the deposit slip

and also write down the denomination of notes behind the cheque.

Record it in the Record Book and put scroll no in the cheque.

Deposit slip is credited and posted in the concerned account in the system.

2.9.6 Procedure of Cash Payment

At this counter cash is paid to the customer on demand by placing a cheque over counter.

Payment counter performs its job as follows:

Check the cheque leaf whether it is worded properly. This cheque covers Branch seal, Date (Date

must be current date or 180 days earlier), amount in figure and word, and finally signature of the

Drawer. We also check here whether the word “Bearer” is crossed away or the cheque is in the

name of any company or firm.

Verify the signature with the specimen signature and give verification seal and signature of the

verifier.

Check proper endorsement is given behind the check leaf in case of Check Drawn on Payees in

the name of any Firm. For cheques in the name of Firm Attestation is required along with Firm‟s

common seal to be paid over the cash counter.

Give posting in PcBANK2000 and debit Drawer account and note the transaction no. on the top

of the cheque.

2.9.7 Cash Book Balance

At the end of the working day cashier is responsible to maintain the cash balance book. The cash book

contain the date, opening balance, detail of cash payment and received in figures, closing balance,

denomination of government notes (Currency). It s checked by manager. The consolidated figure of

receipt and payment of cash is entered in the cash book and the closing balance of cash is drawn from that

i.e.

Opening Balance of Cash + Receipts - Payments = Balance

The closing balance of today will be the opening balance of tomorrow. This department is one of the most

important departments of the Bank. All the books maintained in this department are checked by officer.

Cash Insurance Limit

2.9.8 Maintenance of Cash Remittance

The In-charge of Cash Department maintains the cash remittance according to the rules of the Bank. If the

cash manager thinks that the amount of money cross the limit, then he called the Principal Branch to takes

the extra amount of money or vice versa. Inter Branch Credit Advice (IBCA) is used for such transaction.

2.9.9 Online Banking Operations

The UCBL has 84 branches and all transactions among the branches are done through Online. UCBL uses

PcBank2000 customized software for its day to day transaction. The activities are:

Deposit cash in any branch in any account Withdraw cash from any branch Transfer from any account to any branch

2.9.10 Account Opening Management

Responsibility of the customer service starts with opening of new account in the name of new customer.

This is the starting point of the client bank relationship. By opening an account, the bank bridge it‟s

customer to avail the facilities provided by the bank.

A. Types of Account

UCBL has several types of deposits for its customers. Like-

Savings Bank (SB) Account

Current Deposit (CD) Account

Short Term Deposit (STD) Account

Fixed Deposit Receipt (FDR) Account

B. Account Bills and Remittance:

Remittance is one of the important items of bank business. Now a day business person cannot run his

business without bank remittance facilities. Sending some money from one station to another through

banking channel is called remittance. Remittance may be both local and foreign. The main instruments

used for local remittance of fund are:

Pay Order (PO)

Demand Drafts (DD)

Telegraphic Transfer (TT)

Payment in Cash

C. Clearing

The function of clearing department can be divided into two parts:

Outward Clearing

Inward Clearing

2.9.11 Credit Management

The word „credit‟ derives from Latin word „cruder‟ means „to trust‟. The fundamental nature of credit

is that, an element of trust exists between buyer and seller whether of goods or of money. Credit may

also be defined narrowly or broadly. Narrowly credit is simply the opposite of debt. Debt is the

obligation to make future payments. Credit is the claim to receive these payments. Credit is finance

made available by one party (lender, seller or shareholder/ owner) to another (borrower, buyer,

corporate or non-corporate firm), i.e. from surplus unit to deficit unit. Credit is the outcome of

financial intermediation the very major service offered by Bank financial institution. The economic

basis of financial intermediation lies in the economics of scale in portfolio management and in the low

of large numbers.

Lander has preference for financial intermediation because of:

Low risk

Greater

liquidity

Conveni

ence and

2.9.12 Organizational Structure for Credit Operation

At the minimum, one officer shall be placed in the Credit Administration unit immediately at each

branch who shall independently under administrative and working control of Credit Administration

Department.

2.9.13 Credit Administration Flowchart

2.9.14 Loan & Advances

Loan and advances have primarily been divided into three main heads as follows:

A. Fixed Term Loan

These are the non-revolving loans made by the Bank with fixed repayment schedules. This loan is

given for a specific term and usually repaid in Equal Installment either of monthly or quarterly. The

interest may be paid quarterly or along with the installment. Fixed term loans are categorized into

three categories based upon its tenure which is defined as follows:

Short-term loan

Mid Term loan

Long

TermLoan

B. Continuous Loan

C. Demand Loan

These are the non-revolving loans which are neither continuous nor fixed but have to be repaid on

demand. This loan is repayable by the borrower on demand. That means for this loan the borrower is

bound to pay back on demand of Bank.

D. Personal Loan ( Consumer Credit Scheme)

The objectives of this loan are to provide essential household durable to the fixed income group (Service

Holders) and other eligible borrowers. Car loan, loan for house renovation, vacation loan, marriage loan

and loan for household equipment well as entertainment products are governed by personal loan program.

2.9.15 Credit Committee

Bank has a multi-tier Credit approving system to manage the credit risk efficiently. Credit proposals after

preliminary evaluation and making necessary adjustment will be placed by Corporate Banking Division

before the Credit Committee for preliminary appraisal since recommendation of the Credit Committee is

pre-requisite before approving any loans by the appropriate approval authority. Credit Risk Review

Department of CRMD will conduct their risk assessment on different aspects of the proposal and may

place their observation in the Credit Committee meeting.

2.9.16 Foreign Exchange Department

Foreign Exchange Department is an important one in UCBL Rajshahi Branch that deals with import,

export, and foreign remittance and post import financing. Through this is an ancillary service provided by

the Bank. The Bank is purchasing primary security by giving loan in form of loan against imported

merchandise (LIM), and loan against trust receipt (LTR). Bank branch should be „Authorized Dealer‟

with the approval of Bangladesh Bank to run foreign exchange business. This department is playing an

important role in enhancing export earnings, which aids economic growth and, in turn, will be helpful for

economic development. On the other hand, it also helps to meet those goods and services, which are more

demandable and not adequate in our country.

Function of Foreign Exchange

L/C opening & L/C amendment

Sanctioning PAD, LIM, LTR, Packing credit

Foreign Bill Purchase

Local Bill Purchase

Foreign Currency Account Maintaining

Foreign Currency Remitted

The Foreign Exchange Department of UCBL is divided into three broad sections:

A. Letter of Credit

Letter of Credit is a payment guarantee to the seller by the buyer‟s Bank. It is a Credit Contract whereby

the buyer‟s Bank on behalf of the buyer is committed to pay an agreed amount of money to the seller

under some agreed conditions.

Contents of Letter of Credit

Name of the Buyer

Name of the Seller

Moment of the Credit

Trade Terms

Tenor

Expiration Date

Documents Required

B. Foreign Exchange Report

Import policy refers to government policies account for a particular fiscal period envisaging the allocation

of fund available from various sources for import of certain quantity of certain goods. The main purpose

of the policy is to conserve scare foreign exchange & to ensure its utilization for the import of goods and

services which have national priority.

Flow Chart of Import Procedure

C. Letter of Authorization Form (LCAF)

The Letter Of Credit Authorization Form is the form prescribed for the authorization of opening letter of

credit or payment against import and used in lieu of import license. The authorized dealers are

empowered to issue LCA forms to the importers to allow import in Bangladesh. If foreign exchange, it is

intended to be bought from Bangladesh Bank against a LCAF, it has to be registered with Bangladesh

Bank‟s Registration Unit.

D. Importer Application for L/C Limit

The importer must have sufficient credit line for opening an L/C. In case the client does not have

approved credit line for opening an L/C the Manager of the branch takes necessary arrangement to submit

a proposal to the Credit Committee/Executive.

E. L/C Application

L/C Application is a sort of arrangement between client and Bank. UCBL provides a printed form for

opening a L/C to the importer. Usually the importer expresses his desire to open a L/C quoting the

amount of margin in percentage.

F. Scrutiny of L/C Application

On receipt of L/C application, the branch officials scrutinize the same very carefully giving emphasis to

the following:

1. The terms and conditions of the L/C must be complete with UCPDC 500 and Exchange Control

& Import Trade Regulation.

2. L/C application is stamped, as it is a guarantee of payment.

Procedure

On receipt of a request letter for amendment of L/C from the customer the Bank takes the following steps:

1. Record the date and time of receipt of the application.

2. Read the request letter for amendment briefly to ensure that concerned L/C number and the

instructions mentioned are clear.

3. If found in order check the request letter for amendment together with all supporting papers.

In case the letter of amendment is completed or required papers neither are nor submitted, the

customer should be contacted promptly for rectification of the defects.

4. In case the customers do not have approved credit line for increasing/amending the L/C, the

import section has to submit proposal to the Executive Committee of the Board and keep

pending of amending the L/C till its approval.

5. When the request letter for amendment with all papers found to be in order, record the

particular of amendments with date in appropriate column against the relevant L/C in the L/C

register.

6. Prepare the letter of amendment either in mail, SWIFT telex format.

G. Foreign Exchange Export

According to Foreign Exchange Regulation Act, 1947, nobody can export by post and otherwise any

goods either directly or indirectly to any place outside Bangladesh, unless a declaration is furnished by

the exporter to the collector of customs or to such other person as the Bangladesh Bank may specify in

this behalf that foreign exchange.

H. Back to Back Letter of Credit

Back-to-Back L/C is a secondary L/C opened by the seller‟s Bank based on the original/master L/C to

purchase the raw materials and accessories for manufacturing of the export products required by the

seller.

I. Post-Shipment Credit

Post-shipment Credit refers to the credit facilities extended to the exporters by commercial Banks after

shipment of the goods against export documents.

Banks in our country generally extend post-shipment credit to the exporters through:

Negotiation of documents under Letter of Credit

Purchase/Discount of DP and DA Bills

Advances against Export Bills surrendered for collection

Negotiation of documents under Letter of Credit

Purchase/Discount of DP and DA Bills

Advances against Bills for Collection

Commission for collection

J. Foreign Remittance

Foreign Remittance means purchase and sale of freely convertible foreign currencies as admissible under

Exchange Control Regulation of the country.

Fig-10: Foreign Remittance

Foreign Inward Remittance

Foreign Outward Remittance

Remittance which is made from our country to abroad is called foreign outward remittance.

K. Foreign Bills Collection

The collection procedure is as follows:

1. Entries in the FBC register and get a FBC number. This number will be on the bill and be

treated as reference no.

2. Forward the bill along with a forwarding letter to the corresponding Bank. Send the draft

through courier service and keep a courier receipt in the file.

3. Crossing on the bill indicating UCBL as a collecting Bank. Endorsement on the back of

the bill “Payee‟s A/C will be credited on realization”.

Foreign Inward Remittance

Foreign Outward Remittance

Foreign Remittance

2.9.17 General Advance Department of UCB

GENERAL ADVANCE DEPARTMENT

The General Division deals with asset selling of the Bank. Generally financial institutions like

Commercial Banks pool fund from society in terms of deposit & channel this fund in terms of credit to

different firms in business community as well as to individuals with deficit of fund in the society. And

this facility is generally known as loan. So in a broader sense we infer that bank is providing solutions

to the business as well as to the individuals for their financial needs.

UCBL‟s credit mission is to actively participate in the growth and expansion of our national economy

by providing credit to viable borrowers, efficiently delivered and competitively priced. UCBL‟s client

base consists of corporate, institutional and private clients to help them realize their short term goal as

well as long term aspiration.

2.9.18 Information Technology of UCB

In today‟s financial services environments, technology is not an option but a necessity. United

Commercial Bank is amongst the pioneer in banking industry to provide sophisticated On-line banking

services to its customers through the network of all 110 branches. Moreover, UCB has entered into an

agreement with Dutch Bangla Bank Ltd. for sharing ATM facilities with them to extend a wide range of

banking service to its valued customers.

In 2007 the bank invested substantially in improving its IT facilities for ensuring seamless, faster and

secure banking transactions.

The data center of the bank has been equipped with the state of the art modern servers and network

equipment from world renowned vendors. A Dell Cluster Server based on EMC SAN storage system

ensures 24´7 data access facility providing maximum fault tolerance capability. A CISCO PIX firewall

ensures the safety network from any attempt of instruction. During the year the bank has also launched

services like Tele-Banking, Debit Card facilities for its customers. UCB also introduced UCB Corporate

Intranet system for quick distribution of information amongst its branches.

CHAPTER THREE: SERVICE OFFERING & FEATURES

3. Service Offering

Fig-11: Services of UCBL

All these services can be broken down to Consumer Credit (Retail) banking; commercial (includes SME

and Corporate) banking; and miscellaneous services.

3.1 Consumer Credit (Retail) Banking at United Commercial Bank Ltd.

It is one of the core businesses for United Commercial Bank Limited and has been targeted for significant

further growth. This reflects the potential of consumer credit scheme to produce high levels of economic

profit and perceived demographic trends toward an expanded middle class and higher income levels.

Loan

Pro

du

cts

• Trade Loan

• Industrial Finance

• Import Finance

• Export Finance

• Loan Syndication

• Working Capital

• Finance

• Packing Credit

• Transport Loan

• Lease Finance

• Hire Purchase Loan

• House Building Loan

• Home Loan

• Customer Credit

• Scheme

• Auto Loan

• Doctors Loan

• Marriage Loan

• Education Loan

• Hospitalization Loan

• Travel Loan

• CNG Conversion Loan

Dep

osi

t P

rod

uct

s

• Current Deposit

• Savings Deposit

• Women Saving Deposit

• Women DPS PLUS

• Non Residential

• Bangladeshi Deposit

• Special Notice Deposit

• Fixed Deposit

• Foreign Currency

• Deposit A/C

• UCB Imperial Savings

• UCB Money Maximizer

• UCB Multi Millionaire

• UCB Earning Plus

• UCB DPS Plus

• UCB Youngsters

• Savings

• UCB Youngsters DPS

• UCB Savings Plus

Oth

er S

ervi

ces • Western Union Money

• Transfer

• SMS Banking Service

• Online Service

• Inward & Outward

• Remittances

• Travelers Cheques

• Underwriting & Bridge

• Financing

• Locker Servic

• Offshore Banking

Asset quality is generally expected to be higher in personal lending than corporate lending due to variety

of factors including:

Diversification of risk.

Security.

Cultural values.

The increasing need for individuals to have access to bank credit for the conduct of normal

daily activities.

United Commercial Bank is a conservative lender in consumer credit as part of its corporate philosophy.

However, conservatism does not mean simply minimizing bad debts, but incorporates the concept of

lending against acceptable risks. The Bank‟s overriding goal is not only to increase total shareholder

return but also to contribute to the socio economy by improving the life style of the limited income

segment of the country and that can be achieved optimizing profits, rather than just minimizing losses,

profit optimization will follow from:

Good-planning and control of approval process.

Well-designed products with appropriately focused marketing.

The use of statistical techniques and decision support system that permit risks to be

managed predictably.

Gathering high quality management information, this is then read and used.

3.2 Consumer Credit Schemes of United Commercial Bank Ltd.

The United Commercial Bank with their financing items under CCS loan is given below:

Household Durable Loan: Motor Cycle, Personal Computer, Photocopier, Fax machine, Small PABX

system, Television, Mobile Phone set, Refrigerator, Audio-video equipment, Other home electric

appliances, Furniture and any other household items.

Household Durable Loan For purchasing household durables.

Car loan Car, Jeep, Station Jeep, Pick up Van,

Cover Van, Bus, Truck, Ambulance and

any other vehicle for own use.

Doctors’ Loan For the Doctors only.

Loan against salary Any qualified person

Any purpose loan For emergency need

Education loan For Study purpose only

Travel Loan For traveling purpose,

Marriage loan For wedding only.

CNG Conversion Loan To convert into CNG

Hospitalization Loan For treatment in hospital

Fig-12: Credit Schemes

3.3 Car Loan

Customer Segment

Any Bangladeshi individual who has the means and capacity to repay the loan. In specific terms the target

customers should cover salaried executives of multinational companies, middle to large size local

corporate, Government officials, Officials working in Semi-government, Autonomous and reputed Non-

Government Organization, International aid agencies and any tax paying businessmen of repute and self-

employed tax-paying individual having a reliable source of income.

Purpose: Purchase of non-commercial new and reconditioned vehicles for personal use only by

individual.

3.4 Doctors’ Loan

Customer Segment

Any Bangladeshi citizen who is a graduate in Medical Science/Dentist/Eye/Allopathic as self-employed

or salaried people has the means and capability to repay the loan.

Purpose: Small scale purchase of different medical equipments, machineries, items to support

professional tools or other relevant needs (e.g. run or set up a clinic/hospital/dispensary).

3.5 Household Durable Loan

Customer Segment



corporate, Government officials, Officials working in Semi-government, Autonomous and reputed Non



Purpose: Purchase of household durables like Television, Refrigerator, Air conditioner, Washing

Machine, Computers, other household furniture etc. for personal use only.

3.6 Marriage Loan

Customer Segment

Employees of reputed multinational companies and large local corporate.

Employees of medium sized or mid-range local corporate such as reputed schools and

colleges, insurance and leasing companies, Non Government Organization, reputed trading

firms and all other salaried persons.

Any tax paying businessmen of repute and self-employed tax-paying individual having a

reliable source of income.

Purpose

To meet the financial need for marriage purpose.

3.7 Any Purpose Loan

Customer Segment


Employees of medium sized or mid-range local corporate such as reputed schools and colleges,

insurance and leasing companies, Non Government Organization, Government officials, reputed

trading firms and all other salaried persons.

Purpose

Miscellaneous personal financial requirements. The customer has to declare the purpose of the loan but

submission of supporting document is not mandatory. Purpose may be as follows:

House renovation

Marriage in a family

Advance retail payment

Hospitalization or other emergency medical needs

Trips abroad

Purchase of Miscellaneous household appliances

Purchase of personal computer

Purchase of electronic items

Purchase of furniture

3.8 Education Loan

Customer Segment



colleges, insurance and leasing companies, Non-Government Organization, reputed trading




Purpose

For educational purposes like study in abroad or within the country.

3.9 Hospitalization Loan

Customer Segment





Any tax paying businessmen of repute and self-employed tax-paying individual having a reliable

source of income.

Purpose

To meet the financial need for treatment purposes in the following hospitals/clinics of Dhaka and

Chittagong:

BIRDEM

Holy family Hospital

Central Hospital

Monwara Hospital

Samrita Hospital

Medinova

Bangladesh Medical

Metropolitan Hospital

Sikder Medical

Islami Bank Hospital

Dhaka Renal Centre

IbneSina Hospital

Lab Aid Cardiac Hospital

National Heart Foundation

CMH, Dhaka

Apollo Hospital

Health Care, Chittagong

Health Home, Chittagong

Poly Clinic, Chittagong

CMH,Chittagong

3.10 Loan against Salary

Customer Segment





Purpose

To meet the financial need for any acceptable purpose.

3.11 Travel Loan

Customer Segment



colleges, insurance and leasing companies, Non Government Organization, reputed trading




Purpose

To meet the financial need for travel purpose.

3.12 CNG Conversion Loan

Customer Segment



corporate, Government officials, Officials working in Semi-government, Autonomous and reputed Non-



Purpose

For converting vehicles from carbon based fuel to Compressed Natural Gas system.

3.13 Objective of the Consumer Credit Scheme

United Commercial Bank Limited started the Consumer Credit Scheme program with a view to fulfill its

benevolent institutional objectives through financing the middle class limited income group.

To ensure the credit facility to the both middle class Limited income group and upper class

income group.

To improve the living standard of limited income group through financing in purchasing

necessary goods.

To participate in the socio-economic development of the country.

3.14 Commercial Banking

Commercial Credit services are quite different from consumer credit banking due to its flexibility of

customization and it depends entirely on commercial customer‟s requirements. Hence, generic offerings

for commercial clients are as follows:

One Stop Service

Time Deposit Scheme

Monthly Savings Scheme

Deposit Insurance Scheme

Inward & Outward Remittances

Travelers Cheques

Import Finance

Export Finance

Working Capital Finance

Loan Syndication

Underwriting and Bridge Financing

3.15 Functions of UCBL

To maintain all types of deposit A/Cs.

To make investment.

To conduct foreign exchange business.

To conduct other Banking services.

To conduct social welfare activities.

To work for continues business innovation and improvements.

3.16 Values of UCBL

To be one UCBL by holding and guiding the following values:

To have a strong customer focus and to build relationship based on integrity, superior service

and mutual benefit.

To strive for private and sound growth.

To work as a team to serve the best interests of the organization.

To work for continues business innovation and improvements.

To value and respect people and make decisions based on merit.

To provide recognition and reward on performance.

To value open and honest communication.

CHAPTER FOUR: PORTFOLIO OF THE

ORGANIZATION

4. Operational Network

Fig-13: The Hierarchy of UCBL

Mid Level

Management

Executive Level

Management

Top

Management

Junior Officer

Management Trainee

Officer

Senior Officer

Principle Officer

Executive Officer

Senior Executive Officer

First Assistant. Vice

President

Assistant Vice President

Senior Vice President

Executive Vice President

Senior Executive Vice

President

Deputy Managing

Directors

Executive Committee

Managing Director

Board of Directors

Chairman

Junior Level

4.1 Corporate Information

Name United Commercial Bank Limited

Legal Status Public Limited Company

Date of Incorporation 26 June 1983

Date of Commencement of Business 27 June 1983

Chairman Mr. M.A. Hashem

Vice Chairman Mr. Showkat Aziz Russell

Managing Director Mr. Muhammad Ali

Company Secretary Mr. Miza Mahmud Rafiqir Rahman

Date of Listing with DSE & CSE 30 November 1986 & 15 November 1995

Authorized Capital Taka 8,000 million

Paid up Capital Taka 836

Total manpower 2,982

Number of Branches 130

Number of AD Branches 25

Number of Agri. Branches 02

Number of ATM Booth 77

Auditors Syful Shamsul Alam & C0. Chartered Accountants

Tax Consultants Mr. Md. Mosharrof Hossain, Advicate

Legal Consultant T.I.N. Nurun Nabi Chowdhury

Rating Agency Credit Rating Information & Services Ltd. (CRISL)

Registered Office CWS (A)-1, Gulsan Avenue, Dhaka-1212, Bangladesh.

Telephone 028852500

E-mail [email protected]

Website www.ucb.com

SWIFT UCB BDDH

Fig-14: Corporate Information

mailto:[email protected]

http://www.ucbl.com/

4.2 Employees at UCBL – Bashundhara R/A Branch

Designation Name

Vice-President & Head of Branch Mr. Ikram Farid Chowdhury

Operation Manager Mr. Mohammdad Shafiqul Islam

Senior Executive Officer Mr. Golam Idrees

Senior Officer Mr. Abu Arafat Latif

Senior Officer Mr. HafizurRahman

Officer - Cash Mr. MD. Golam Rahman

Officer – Cash Mr. Shahjahan Chowdhury

Junior Officer Mrs. Rezwana Khanam

Officer Mr. B.M. BorhanUddin

Junior Officer – Probation Mr. Ali Rawshan Ibne Alam

Assistant Cash Officer Mrs. Kaniz Fatema

Assistant Cash Officer Mr. MD. Morshedul Alam

Assistant Cash Officer – Probation Mr. MD. Rafiqul Karim

Credit Card Service Officer Mr. S.M. Saifullah

Debit Card Service Mr. Ariful Haque

Fig-15: Corporate Information of UCBL Bashundhara R/A Branch

4.3 Blueprint of United Commercial Bank Ltd. - Bashundhara Branch

Fig-16: Blueprint of the 1st floor of UCBL Bashundhara R/A Branch

Fig-17: Blueprint of the 2nd

floor of UCBL Bashundhara R/A Branch

Stairways + Lift

Cash

Booth

Vault Operation

Manager‟s

cubicle

Clearance &

Transfer Booth

Stairways + Lift

SEO and

Senior

Officer‟s

Desk

Vault

Conference

Room

Manager‟s

Cabin

Washroo

m

Retail

Credit

Officer‟s

Desk

Serve

r

Room

Executive

Officer‟s Desk

Store

Room

1st Floor

2nd

floor

CHAPTER FIVE: CONTRIBUTION TO THE

ORGANIZATION

5. Assignment and Contribution to the Organization

My contribution as an internee was not much but it was crucial. I observed any firms use processes that

have lasted for years but are frequently tweaked to create improvements. I have done something similar.

A new facility was to be offered to the students. Students „accounts are to be introduced and I was given

the responsibility to be present in the fairs which was organized in the well known universities. I was

given the responsibility to influence the students to have their own bank accounts. It was extremely a

challenging job for me. I lived up to my supervisor‟s expectations because being a student I had really

good and strong connections with other students. I knew what were the factors those would motivate them

to open a new bank account who were students. Moreover, even if there were some students who did not

open a bank account but I ensured an increase in awareness among student of the new service.

5.1 Duties/Responsibilities at UCB

Experience the real Banking world.

Understand general banking.

Fill up KYC (know your customer) forms.

Writing up the Pay-orders/slips.

To get and organize detail knowledge on the job responsibility.

Compare the real scenario with the knowledge gained in North South University.

Fulfill the requirement of BBA Program.

Apply theoretical knowledge in the practical field.

Find out the overall features of UCB.

To experience:

Bank Audits

Reconciliation

LC

Foreign exchange

Credit investment

Risk analysis

Card creation & requisition

Verification of Daily Voucher Position & Cash Memo

Sundry Accounts

5.2 Daily Work/Job Responsibilities I have performed the following activities in the United Commercial Bank Ltd.

5.2.1 General Banking

Account opening section

Step 1: Receiving filled up application in Bank‟s prescribed form mentioning what type of account

is desired to be opened

Step 2: The form is filled up by the application him/ her

Step 3: Two copies of passport size photographs from individual are taken; in case of firms

photographs of all partners are taken. Application must sign specimen signature sheet and give

Authorized Officer accepts the application

Step 4: Minimum balance is deposited and only cash is accepted

Step 5: Account is opened and a Cheque book and pay-in-slip book is given.

5.2.2 Cheque Clearing

Crossing of the cheque.

(Computer) posting of the cheque.

Clearing seal & proper endorsement of the cheque.

Separation of cheque from deposit slip.

Sorting of cheque 1st bank wise and then on branch wise.

Computer print 1st branch wise & then bank wise.

Preparation of 1st Clearing House computer validation sheet.

Examine computer validation sheet with the deposit slip to justify the computer posting.

5.2.3 Loan Section

• Meet with applicants to obtain information for loan applications and to answer questions about

the process.

• Analyze applicants' financial status, credit, and property evaluations to determine

feasibility of granting loans.

• Explain to customers the different types of loans and credit options that are available, as well as

the terms of those services.

• Review loan agreements to ensure that they are complete and accurate according to policy.

• Compute payment schedules.

5.2.4 Foreign Exchange

• Opening letter of credit against commission for importing industrial agricultural and other

permissible items under council board.

• Opening letter of credit on the principle of sale, on the principle of under wage earner scheme.

• Handling of export /import document.

• Handling inward and outward remittance.

5.2.5 Different Aspects of Job Performance Job performance depends on many factors like job responsibility, working condition, knowledge and

expertise on the work activities; job satisfaction etc. The specific responsibilities of my job were not so

tough to do. The working environment at UCBL Bank was very friendly, which helped me to consider

myself as a part of my jobs with greater satisfaction. Sometimes the job seems much boring. I could

perform well due to the cordial assistance from all of the associates of UCBL Bank.

On my 12 weeks of internship period on UCBL Bank, I have taught practically lots of things those I have

learned on theoretical courses. Though there I got differences sometimes but there were also some parallel

things. Really this practical experience helped me a lot to learn more new things. Hence, in my future life

all these will be a valuable experience for me.

CHAPTER SIX: LESSONS FROM INTERNSHIP

6. Lessons from Internship Experience

Resilience was the important lesson I got with a highly pressured working environment to adapt. The

management and leadership competency includes the ability to work under pressure, such as with

impending deadlines and for prominent clients. Resilience under intense pressure was also caused often in

the form of changing deadlines and dealing with new information that comes to light.

A global outlook was another factor I learnt, is not just about speaking to an international client or partner

in their language; it is about being able to relate to them and understand their market. I had to show my

organization that, I can identify a key event or socio-economic trend that will affect the markets in

another part of the world.

I learned how to manage my time effectively, and I learned innovative means of selling and promoting the

services bank offered. I developed the means of testing and evaluating a given service as well as how to

change and adapt techniques to suit the desired end goal of the business.

I also learnt many financial tasks. My duties included assisting in payroll, accounts payable, reconciling

bank accounts, entering customer data into software.

I also got trained on and learnt oral and written communication skills (writing various letters), customer

service skills (front desk), leadership skills (taking the initiative), teamwork skills (working in a small

office) and organizational skills.

6.1 Interaction with Supervisor and Coworkers

At the first day when I met my supervisor I felt he is very punctual person in the branch and he is the

Manager Operation in the branch. He was always busy with his work. As it is a new branch there were no

available employees in the branch. In the branch there were only five departments and in total 18

employees. All are very friendly and cooperative. Both Manager and Manager Operation are very much

caring to their intern employees. They always groom their intern‟s responsibility. All the coworkers are

very friendly and helpful. They always tried to give me work and trained me up how to done that job. In

every week I used to work in different departments and build up my skills.

Observations from interpersonal relationships;

• Newcomers are treated quite well unlike many other organizations.

• Here the environment and atmosphere of work is very friendly. Everyone help each other

when needed.

• The bank has the provision of internship program but there is no organized structure for

the internship program. The bank can properly utilize the internees at minimum cost.

6.2 Dealing with Difficulties

The hurdles came along when I had shift from one department to another. I was assigned in different

departments such as, General Banking, Foreign Exchange, etc. I had different tasks for different

departments. Each time I was introduced to a new department I was given training newly. For instance,

General Banking was about helping clients on filling up accounts, providing customer‟s product related

information, providing assistance to customers according to their needs, etc. On the other hand Foreign

exchange banking was about foreign and local currency exchange. It was little difficult for me to switch

to different departments. Moreover number of employees is few in the bank, so work pressure was huge.

While doing work in bank, I faced many difficulties. Such as,

Dealing with versatile customer: In this bank I faced a lot of customer. Bashundhara R/A is

totally business related area and During My internship I did deal with few big farms such as

Bashundhara Group and in the same time I‟ve faced small consumer. I also did some other and

investment related work. So it‟s hard for me to memorize all at a time about what I did and that

was a huge problem for me.

Do not have any Marketing related position or worker where I can learn something &

doing mostly Finance related work while I am from Marketing major: In this bank most of

the work I did was Finance related work like General Banking etc. I‟ve learned so much about

Finance. But it would be better if I‟d have chance to work under Marketing Department But

there wasn‟t any Marketing related position only except the Sales or any worker where I‟d learn

something.

Transportation problem: Though Bashundhara R/A is so far from my home because I live in

Shyamoli. They don‟t have any transportation facilities. Sometimes I used to go by bus and

sometimes by CNG. That‟s why every day in the end it‟s become so hard for me to concentrate

on what I was doing because I felt so stressful.

6.3 Differences between Expectation and Experience

I expected that, in the banking industry recruiters only focus on intellectual ability but I experienced that,

Banking recruiters do not judge intellectual skills by academic grades alone: they like to see that whether

an employee can apply the knowledge to practical situations or not. For example, I completed an

academic team project as part of my degree; it is likely that the whole task was divided up into small

tasks. An intellectually curious person would not simply complete his own objectives, but would instead

take a broader interest in the work of their colleagues, and how their own segment fitted into the whole.

Therefore I also had to look into my colleagues‟ task and the process by which they completed.

Secondly, I expected that, I would be assigned to a specific department but for me in reality there was no

such rule like that. I was shifted from one department to another. It was a great experience though.

i. The Positives or The Brighter Side (Pros):

My actual task was to work on, not just mere photocopying the papers of my

supervisor.

I had to deal with flexible customers like an executive level officer.

I was involved in account openings of the customers, in cash section, collecting bills

and cheques.

As I was the youngest among all in the branch I was treated like a younger brother

like my colleagues and my supervisor.

The internship was paid. It encouraged me to work even more

efficiently.

I had to step inside the office sharp from 10am to 7/8pm. Due to this strict rule I

became an early riser and became very punctual.

I had permanent desk where I could work on, as a result of which I did not have to

move here and there in the office to look for empty desks to sit and work.

ii. The Negatives or the Dark Side (Cons):

I wanted to work practically in the department but they did not allow me to

work there as they do not allow people without experience to work in every

department in a vast way.

Every day I have to work a lot especially last 2 week if I completed

my task earlier my supervisor gave another new work which was

horrible.

6.4 Influence of Internship in Carrier Plan

After doing that Internship I found that I would like to work in the Foreign Exchange department. If I had

not pursued that Internship, I would have ended up with a job I did not like. Internship gave me the

opportunity to apply fundamentals learned in the classroom to real-world issues. It also gave me an in-

depth analysis of what it is really like to work within the field of study. Lastly, the Internship gave me an

edge against competition when entering into the workforce. Internship was the first stage which helped

me to develop my professional interest. The only reason I chose to do an Internship to gain valuable work

experience in the field of my major. I feel like my Internship mostly benefited my career goals by giving

me experience in what a job in marketing would really like to be. Also, I think this experience prepared

me to better obtain a job in my career field and to succeed in that career.

6.5 Redoing Internship

If I had to redo the internship then I will definitely reapply here. Because, UCB has helped me to learn

many things. I wanted to know more but due to lack of time I could not learn more things. So if I rejoin

here, I want to know more and in a broad concept about the entire department which I did not know

because of lack of time. I want to know more about loan and general banking department as well as how

to open a letter of credit as it is a very big department. I want to know how they make transaction in

bank. I want to talk to them personally because I want to know more about them. I have a desire to work

in foreign exchange department. How they work and the whole software procedure which I could not

learn because of confidentiality problem.

CHAPTER SEVEN: THE CONCLUDING PART

7. SWOT Analysis of United Commercial Bank Ltd.

SWOT is an acronym for the internal Strength and Weakness of the firm and the external as well as

environmental Opportunity and Threat facing that firm. So, if we consider UCB bank as a business firm

and analyze its strength, weakness, opportunity and threats the scenario will be as follows:

Strength Weakness

Strong relationship with customers Promotional activities of this bank are

Friendly Working Environment up to the mark

Maintaining good relationship with Insufficient brunch

the new and old clients Insufficient ATM booths

It provides services even after the

No internet banking

Poor marketing and

limited advertising

agency

banking hour to special clients

Well known to the market

Online Banking Services

Service First

Customer based products

Opportunities Threats

Growing market Growing competition in the market

Increasing awareness of Islamic Political instability

banking among the clients Government Plan and regulation

Skilled workforce Public banks offer High interest rate

Mobile banking

Fig-17: SWOT Analysis of UCBL

7.1 Major Findings UCB Bank does not give their high attention on advertisement at Newspaper, TV, and Radio etc.

As a competition market it is too much important for any organization to increasing their

advertisements procedure to provide information to the clients & Probable clients. Advertising is

continuous process; it does mean that when a brand becomes successful then it doesn‟t need

advertising.

No internet Banking. Now a day‟s internet is highly essential for any kind of work. If people can

use internet banking from their smart phones or computer it will be very useful for some

customers, it can save both time and money. So UCB should offer some services of internet to

fulfill customers demand.

According to some clients introducer is one of the problems in the bank. Marketing officers are

considered to be engaged in harassment activities to the customers for introducing their name to

fulfill their targets. Every Marketing officer has introduced certain number of customers to fulfill

their own individual target, so to fulfill their target sometimes customers get confused by some of

the marketing officers.

Some Unqualified workforce in marketing department. Marketing department is one of the very

important departments of any organization. Here in UCB Bashundhara R/A branch there are some

unqualified and not fully trained officers working for marketing department. So UCB should

monitor their performance and get well trained for the better customer service.

In case of opening an account some big parties come to open accounts in reference with the high

official of the bank. They do not submit all the necessary papers in the time of account opening so

it crates pending account and bankers find it difficult on later to collect necessary papers.

UCB Bank does not give much importance to the Customer Relationship Management (CRM)

tools through which they could acquire more depth information of their prospective customers.

Now-a-days these customer utility tools are widely being used by the Telecom companies as well

as most of Multinational Banks. Therefore, UCB should be much focused on integrating their

services as well.

7.2 Recommendations

The bank should go for advertising about their services and facility for the clients. In recent days

without proper knowledge people do not go for any service. People compare other options too

and take the leverage, so they have to understand the power of the advertising and should

promote their services more by advertising.

The entire department should be well informed regarding their goals and objectives. It is

essential to execute company objectives into individual target. So if anyone of the Bank has the

idea what‟s their main target they can easily reach their target goal. It can be very helpful if

they have internal formal meeting at least once in a month.

The bank should introduce more promotional activities at TV Channel. TV commercial is one

of the most effective medium of advertising. With TV commercials people are more connected

the product or services. It‟s an easiest way to promote your brand in mass population. UCB

didn‟t use that much TV commercials unlike other Banks.

To meet today‟s demand of the customer; the bank should introduce Mobile banking system.

Technology changing day by day like bKash first lunching mobile banking system and most of

the Bank lunch their own mobile banking system. So to cope up with the modern trend UCB

should enhance and enrich their mobile banking system called Ucash as early as possible

because still Ucash is not as useful as bKash.

Establish more ATM network & maintain sufficient in ATM booth or leasing it. In Bangladesh

Dutch Bangla Bank, Standard Chartered Bank and Brac bank have more ATM boots than

others. So UCB should establish sufficient booths to maintain their work effectively.

7.3 Conclusion

UCB is today‟s one of the leading private banks in our country. After the establishment it brought lots of

new product and services for its clients and the progress of UCB is really satisfactory in our banking

environment. From a mainly feudal agrarian base, Bangladesh has undergone a rapid economic structural

transformation towards manufacturing and services.

Providing credit to clients is a core business of UCB. It is also the pioneer in offering world class

credit/loan facilities for the people of Bangladesh. It has 110 branches in urban, suburbs and rural areas in

the country.. In this report I have illustrated different aspects of UCB branding services and tried to find

out the problems and the processes to solve the problems.

Banking sectors no more depends only on a traditional method of banking. In this competitive world of

banking sector has stretched its wings wide enough to cover any kind of financial services, not only from

the local banks but also from the foreign banks, the banks of today face a tough competition. The major

tasks of banks for banks to survive in this competitive environment are by managing its assets and

liabilities in an effective way. To make the assets especially loan and advances banks must have to be

more cautious and otherwise these assets will become a burden for the bank. To have fruitful investment

bank must have to do marketing/promotions of their product perfectly.

7.4 References

United Commercial Bank Limited, Bashundhara R/A branch.

Address: Plot-06, Block-A, Bashundhara Main Road Bashundhara R/A, Dhaka-1229

www.ucbl.com

[The official website of UCBL]

http://en.wikipedia.org/wiki/Brand

[Information search]

Mohammdad Shafiqul Islam, Senior Executive Officer & Manager Operation as well as

my supervisor. Email: [email protected]

B.M. Borhan Uddin, Officer & my direct supervisor. Email: [email protected]

Many official documents

[Collect from my supervisor]

UCBL various circulars.

UCBL Annual Report 2009

Annual Report of UCB 2013

[January- June 1st half year annual report]

http://www.ucbl.com/

http://en.wikipedia.org/wiki/Brand



7.5 APPENDIX

WEEKLY JOURNAL

WEEK-01

Introduction

As the first week of my internship started in a bank named United Commercial Bank Limited (UCB), I

was very much nervous as well as excited. I was appointed in Bashundhara R/A branch beside

GPHOUSE and near to NSU. Therefore, it was very much delightful for me to do my internship as I have

taken two courses with my internship. Firstly, getting into a renowned bank such as UCB as an intern is a

great matter of joy. Thus, on September 9th, 2014 I joined there as an intern to complete my graduation

from North South University (NSU) and to understand the practical life in reality with the concepts and

theories I have learned from my university. As I was given the offer/joining letter on September 8th, 2014

thereof, I could not join on the same day due to time trouble but I joined there from the following day as

well as I was given the permission of doing my internship three days a week due to two days of classes in

NSU during every MW time period. As a result every Sundays, Tuesdays, and Thursdays are officially

permitted to be my working days in UCB.

Key Resources

Date Description

(Tuesday)

09.09.2014

This was the first day of my internship. Today I went to the office at 10 am sharp.

At first, I met the operation manager of the bank with my joining letter. He asked

me some question and took me to the General Banking Division. Then he

introduced me to the SO named Mr. Ziaur Rahman and tells him to teach me some

GD work. Then he introduced me to all the members of GD, Cash, Credit,

Accounts, Reconciliation, Foreign exchange, Retail, and LC. After few moments I

found that all the members are very friendly with me but they are extremely busy

with their work because of fewer employees in the whole branch. Then few hours

later I met my direct supervisor for the first month who is an officer named Mr.

Waliullah Babu. He was very friendly as well. Then the operation manager gave

him a duty to introduce me to all the bank employees. Then the orientation began

for rest of the day.

(Thursday)

11.09.2014

On the second day when I entered into the office my fellow supervisor gave me an

application form and taught me how to open the accounts of our clients. I observed

that very carefully. Then I asked my supervisor that which software they use in

banking activities. Then he replied me that they use FLEXCUBE which was not

used earlier and a recent alteration in their banking activities as per international

working system. This is not very much user friendly banking software. I also found

some of the reputed bank is using this software as well. This software has lots of

option but this is very slow and critical. UCB does all the work centrally. If they

want to open a client‟s account they process all the formalities and then send it to

the head office and take the permission to open the account.

Recommendation

There is no recommendation I would like to provide on the very first stage as this was my very first week.

Eventually, I enjoyed the place and people out there warmly welcomed me which is indeed a very big

matter to comprise.

Learning

As this was my first week, I was introduced to every single employees of United Commercial Bank

Limited. I was taught how to open up bank accounts for the clients. I was also taught how to write down

the pay orders etc. I was given a little knowledge on the FLEXCUBE software which is indeed a greater

thing to learn in case if I want to enrich my career in the banking sector.

Conclusion

As a business student I was always motivated to take new challenges. Entering into a bank for the first

time as an intern is indeed a greater thing for me. Even though being so nervous everything became so

easy for me to settle in. As a student of marketing I was always taught to deal with customers. That‟s

what I used to do in the general division by managing, answering, and giving direction to the customers

and even if they behave aggressively, I used to manage them quietly because no matter what happens at

the end of the day a customer is always right and brings money to the organization.

WEEKLY JOURNAL

WEEK-02

Introduction

As the second week of my internship, I was very much aware of the work load would be given to me.

Therefore, I had a mindset as well as prepared to work under huge pressure. The second week was not as

enjoyable as it was in the first week. Due to huge workload I had to work till 7:30 pm and was engaged in

retail marketing. Hence, the period of retail marketing gave me a chance to show my creativity as well as

enhance my marketing concepts with reality.

Key Resources

Date Description

(Sunday)

14.09.2014

Sunday was a very busy day of the week. When I entered the office my supervisor

sent me to the Cambrian College to collect their account form. Cambrian Collage

teachers were opening their salary account with our bank. To open up these

accounts was very much profitable marketing for this branch. It was a very hectic

day for me because of going to the Cambrian Collage. I collected many forms and

was back to the bank to fill up all the forms carefully and submitted to my

supervisor.

(Tuesday)

16.09.2014

Last day my supervisor asked me to go to Cambrian College and collect some

more account opening forms again. I went there on time but the collage teachers

were very slow to complete the simple tasks. They did not fill up their forms

properly that‟s why I was doing on behalf of them and got late for my office. I

entered into the bank after lunch period and gave the input of all the data I have

collected on Flexcube.

(Thursday)

18.09.2014

This was the last day of the week. When I came to the office I saw a long queue in

front of the cash and people are submitting something. Then I found out that

people are submitting the share IPO. At that time all the employees were very busy

to collect that IPO. After the submission time I found out that we received almost

3700 IPO. Now it was time to input all the IPO on excel sheet as per my

supervisor‟s requirement. After 4 pm I started to do it and when it was 7:30 pm I

finished my work completely.

Recommendation

The major problem I have faced was the time constraints. The time was not sufficient enough to collect a

large amount of customer forms from Cambrian Collage. Another major problem was UCB does not

employ enough employees to this branch. As a very large branch it must have many employees which it

lacks. If the system goes by this on and on then the customer satisfaction level may decrease. My

recommendation is to increase the employees of UCB Bashundhara R/A branch by at least 5-7

employees.

Learning

As a marketing student I had a real life experience of doing retail marketing and convincing my clients of

Cambrian Collage which helped me enrich my marketing skills for my future career. I was habituated to

work under pressure which helped me understand that the reality is way hard than imagined. Therefore, as

part of my internship I got to taste the future from this. Last but not least, by working with the excel

sheets I enriched my excel skills which will helped me look forward to do better in soft skills.

Conclusion

Finally, the week was very hectic but I enjoyed doing the work. Learned a lot from my supervisor

regarding how to convince a client and grab the money out of their pocket. The environment was so

friendly therefore did not feel helpless but made the best out of it.

WEEKLY JOURNAL

WEEK-03

Introduction

As the third week of my internship, I was little bit habituated with the internal environment of United

Commercial Bank Limited. I was at ease with every other employees of the branch. Taking advices or

asking for critical issues was a piece of cake for me by then. Nothing was uncomfortable anymore.

Though I was going through huge workload, I was adopting the environment like how everyone else has

been doing.

Key Resources

Date Description

(Sunday)

21.09.2014

Sunday was the beginning of third week. Last week was very hectic week due to

ongoing IPO issues. But this was not like that. On Sunday my supervisor

summoned me to work and synchronize all the account opening forms collected

from Cambrian Collage. I and my office colleague prepared all the form in

sequences and submitted to the operation manager.

(Tuesday)

23.09.2014

On Tuesday I was completely busy with opening bank accounts of NSU students.

Most of the students were coming by themselves without doing any marketing

campaign. Besides, the branch manager gave me a KPI of collecting new student

accounts of five students every week from NSU. I was doing my work accordingly

and invited friends and juniors from NSU one by one to meet my KPI target. This

was another part of marketing I was doing which helped me learn the

telemarketing.

(Thursday)

25.09.2014

It was not a very busy day for me because my operation manager and my direct

supervisor were not present in the branch. They went for a special meeting with a

high valued client. So I eventually had no work to do. But I asked for some works

and I was taught from one of my fellow colleagues about the KYC form. KYC

meaning Know Your Customer, a customer information form given by Bangladesh

Bank to input all the information of a customer according to his/her salary as well

as cash transaction basis centrally. A pure desk job without any need of software.

Therefore, I was filling up a large number of customer account opening forms in

the KYC forms which ended up my whole day.

Recommendation

If I think or observe as a customer or an end-user, I must say that the bank still runs on traditional ways to

much extend. They maintain traditional registrar books for the entries as well as no ID card punch-

machine is equipped in the entrance. Employees are manually signing in. They do not have any digital

queue system like Standard Chartered or HSBC banks for the General Banking Division. Every customer

comes and waits for over and over again. One employee is occupied with three or four types of works

which lack efficiency and can lead to errors. The work speed must be moderate to avoid work-errors

thereof; each employee should not be given more than one or two types of work at a time.

Learning

This week‟s learning was how to fill up KYC forms which is indeed an interesting work to do. I also

learned how to check the current balance of a customer by using the utility tool. An idea of how to verify

properly a National ID card whether it is valid or artificial was given to me as a very important lesson

regarding fraudulent issues. I was also taught about the DPS and FDR schemes and provided my service

accordingly.

Conclusion

A bank or an organization cannot prosper without its customer. Segmentation is very important for

achieving the organizational goal. Therefore, I observed how the segmentation process is followed in the

banking sector in UCB. The high valued customers are served with proper care whereas; low-end

customers are not served with proper dedication. Profit making along with time consuming have become

a very common scenario for every gigantic organization. Nothing is different in the banking sector as

well. People with higher amount of transactions are treated with tea/coffee but the low-end customers

such as cleaners, guards, and other office service staffs or floor attendants who have their salary accounts

in UCB are not treated well and fall under discrimination. No matter what happens, we must not forget a

customer belongs to any cast, creed, or color is a customer and will always bring profit to the organization

even though in a fewer amount. The process of my internship helped me observe so many things that I

would love to eradicate any sort of discrimination in my future career.

WEEKLY JOURNAL

WEEK-04

Introduction

As the last week of September during my internship period, I was expecting the eve of Eid holidays on

the first day of my office. Everybody was very happy to enjoy the holidays. But the main challenge before

the Eid was to complete the tasks of NSU students‟ tuition payments. Therefore, we were assuming a

large amount of rush by the morning. Overall, the week was literally hectic for me and for all the

employees of UCB Bashundhara R/A branch due to the collection of huge amount of cash from NSUers.

However; I was happy that the first month was just about to end of my internship period.

Key Resources

Date Description

(Sunday)

28.09.2014

For the very first time I witnessed that UCB Bashundhara R/A branch was

overloaded and crowded by NSU students for their tuition fee purpose. As every

student had to pay their tuition fees on time and they were literally overcrowding

the entire General Division section. Students were not maintaining the queue

properly and were messing with the place. I was busy in doing the pay-order

disbursement and calculations. I was also opening bank accounts for the students

side by side. Drafted pay-orders and gave the customer receipt one by one. The

cash counter was burst with chaos. Due to huge workload we almost felt that was a

very robotic day for each and every one of us.

(Tuesday)

30.09.2014

On Tuesday I sent some Thanks letter to our valued clients. Today my supervisor

was in leave that‟s why I had less work pressure. Then the Sales in charge

summoned me and asked me to go with him along with another intern. Then we

went to the office of Bashundhara Group and met a high official for a business

purpose. We got the permission to arrange a fair in their office premises. When we

came back to the office we saw there were two Bangladesh Bank Audit officers in

our bank and they were surprisingly visited here. The entire employees were

feeling edgy and our branch manager was quiet tensed as well. After that I faced a

client who wanted to open up an account with us but he had no introducer to

introduce him with our bank. That client was requesting to banking with us but we

could not do anything for him because of rules and regulations. Thus how I ended

up my day.

Recommendation

There is not enough space for the customers in the General Banking Division. Therefore, customers have

to face difficulties before the last date of NSU tuition payment regarding the space for the queue. It

becomes very chaotic when customers cannot find a proper queue for the exact purpose. Starting from the

cash counter, UCB offers four/five queues but none is separated with a digital bill board or any name

plate. So that, the customers get confused and the entire place becomes a massacre every single time. The

queue arrangement process should be more digitized so the customers do not need to seek for queries.

Even in the front desk, there are no name plates given for the direction. If someone comes for western

union or account-opening or balance checking or demanding the statement of current balance or transfer

or cheque issue purpose then he/she has to ask individually where to go every single time over and over

again. This matter should be resolved with proper care so that the customers won‟t be irritated anymore.

Learning

This week‟s learning was how to handle pressure and work with that. By working for hours and hours

most of the employees including me and the other intern forgot to have our lunch on time. We kept

ourselves busy in doing the activities for whole day long continuously. Again, when we met the high

official of Bashundhara Group I was mesmerized with his behavior. He was basically telling us about

their organization and how they work. Being a high official how he treated us was not so important

whatsoever. But his excellent behavior attracted every one of us and I specially learned lessons that never

disrespect anyone even if they don‟t match your background ever.

Conclusion

I have desired of a banking professional life every time. But the work pressure always makes me very

worried each time I think of it. But as my major is in marketing therefore, I will have to take challenges

and take it easy. Otherwise, the core value of my major will not be fulfilled. After completing a month in

the bank my desires have become stronger. I feel that I can contribute to this bank even being an intern.

Hence, I am now enjoying my work and doing it accordingly. The eve of Eid holidays made me feel

happy due to both side by side pressures of attending classes, giving exams, and doing office. I have been

learning many aspects of the banking sector from my internship. Thanks to my BBA program for giving

me the opportunity to experience such field where I would like to enhance my career. This can be a huge

breakthrough for me to attend the bank interviews when I will be officially a graduate.

WEEKLY JOURNAL

WEEK-05

Introduction

After spending a nice vacation of Eid I was completely up to start my internship in a very good mood.

The first month was very exciting, nervous, enjoyable, and stressful as well however; I was adopting the

nature of working which enhanced my theoretical skills gained from NSU to match with the real life in-

hand experience by the help of internship process. This week I had to go for another

marketing/promotional activity which redesigned the infrastructure of my marketing capabilities. Talking

to various kinds of people with different mentality and opinions they possess made me think differently

regarding the concepts of marketing I learned from course materials and I face in reality.

Key Resources

Date Description

(Sunday)

12.10.2014

For the very first time I used Flexcube and gave the input of TP form. TP means

transaction process. This form includes the client‟s transactions amount per month.

Clients have to fill up the approximate amount of their transactions. In our software

we had to fill up all the information given as is in accordance with the KYC form.

This is the basic customer information which is recorded centrally with the help of

Flexcube. I gave the input of almost 200 client‟s information in Flexcube whole

day long.

(Tuesday)

14.10.2014

Today when I went to the office my supervisor called me for brief information

about today‟s work. He sent me to the BICC to represent the UCBL in Hajj fair. I

and my few office colleagues went there in BICC and we also met other colleagues

in our stall at BICC. We attend there for marketing/promotion purpose and we

wanted to open a new account from HAAB association. We were there till 6.30pm

and then got back to office and submitted the applicants‟ forms.

(Thursday)

16.10.2014

On Thursday I prepared all the papers of Hajj applicants and gave the input of it in

the FLEXCUBE. Then I authorized it to my General Bank in charge. He gave me

the permission to activate the accounts and take the authorization from the

manager. After that I entered the information of TP and KYC in FLEXCUBE. My

top management sent me to UCBL DESCO booth to collect DESCO bills. After

collecting the bills I came back to my branch and input the bills in excel sheet.

Then the printed copy was sent to be authorized by my manager.

Recommendation

As per the week, I would suggest that the front-desk employees need to have more training regarding

proving front-end service to the customers. The new entrants such as ACOs (assistant cash officers)

joining in General Banking should have every kind of training regarding the utility tools otherwise they

will take time over and over again just to know how the software works which is indeed an irritating

factor for the customers to watch. I observed a new ACO joined in UCBL Bashundhara R/A Branch

without getting any soft-skill training. When I asked her she replied she was supposed to get in-hand

knowledge by the existing officers in the attachment which is ridiculous. A bank must not forget that the

customer satisfaction is a very important thing to achieve. If the customers get irritated by seeing these

sorts of activities then it may not be greater good for the bank.

Learning

This week‟s learning was how to enhance my marketing skills learned from NSU and apply in the market

place. If I match the activities I learned from UCBL and NSU then I completely understood real life

Service Marketing (MKT412) by talking to different types of customers in BICC. I learned about real life

Sales Management (MKT445) by selling up the client accounts for UCBL. I got to learn about

Advertisement/Promotional Marketing (MKT337) by getting involved with promotional activities as well.

All the lessons or training I have gone through out this week can be matched with the concepts of

marketing I learned from NSU. MKT412, MKT445, also MKT337 are very crucial sections of the core

Marketing. With the help of my internship process I am able to apply my knowledge gained from NSU in

the real world with the help of UCBL.

Conclusion

Internship is a requirement to acquire Bachelors of Business Administration degree from North South

University. The main purpose for internship is to provide business undergraduate students with an

experience of professional environment, before they join the country‟s workforce.

Five weeks work at UCBL Bashundhara R/A Branch provided me with an insight of the banking industry

of the country. Based on which it can be said that the bank is on the right track to build a fruitful brand

equity. It can achieve to the desired position through conducting a proper marketing research to gain

consumer insight and implementing as per indicated by work findings.

WEEKLY JOURNAL

WEEK-06

Introduction

As part of my internship process in United Commercial Bank Limited I have observed that employees of

reputed multinational companies and large local corporations are the customers of this bank. Even

employees of medium sized or mid-range local corporate such as reputed schools and colleges, insurance

and leasing companies, Non Government Organization, reputed trading firms and all other salaried

persons are also the customers of UCBL Bashundahra R/A Branch. Any tax paying businessmen of

reputed and self-employed tax-paying individual having a reliable source of income are regular customers

of this bank as well. In case of understanding how bank works and what core values that a bank acquire I

must work in more details. Therefore, I was given task of bank audits to understand the core activities in

more details this week.

Key Resources

Date Description

(Sunday)

19.10.2014

Today our operation manager called me along with another intern to give some

work. He asked us to organize a huge number of cheque books of our honorable

customers which are not collected for a very long term. Keeping the cheque books

is a very risky matter for a bank. If anything unwanted done by misusing the

cheque books then bank has to take the full liability of the fraudulent activity and

pay thereby. As a result, we started organizing the outdated cheque books

consecutively and collecting the information of customer name, mailing address,

cell number and input in a excel sheet for further assistance. It was almost 1000

cheque books to organize and the further work was to call them up to take their

stuffs back. Finally, after the lunch we started to inform the customers over the

phone one by one to get back their cheque books from our possession and noted

down information needed be.

(Tuesday)

21.10.2014

I was asked to work under a junior officer for the rest two days of the week on

auditing purpose of our customers as well as private firms having accounts with us

for the LC or any other relevant issues. Therefore, I started working and kept

eliminating the defaulters among our customers to let them informed about recent

ongoing issues. They were asked to be informed by me to submit their important

documents for doing banking activities. This auditing criterion is established by

Bangladesh Bank and the Head Office of UCBL runs the process to eliminate

every single obstacles. By working with this I have gained vast knowledge

regarding different type of companies and what are required for that. As a business

student this can also help me have a great knowledge on what to do when starting

up a new business in the near future if needs be.

(Thursday)

23.10.2014

On Thursday I was sent to the UCBL Head Office for the internal auditing purpose

with my direct supervisor. Then we went to the UCBL Pragati Sharani Branch for

the leftover works. After performing the tasks properly I with my colleague came

to the operation manager to submit the files we have completed and complied.

Emails were prepared to send each and every single private firm requesting to

submit the necessary documents to continue banking with UCBL. Individuals were

called over the phone and texted to visit us.

Recommendation

There is no efficient management information system. There is lack of improved technology. There is

no customer complaint desk for this reason sometimes it occurs as an irritating problem. Application of

modern technology such as computerization is not sufficient. There is lack of training program for the

UCBL personnel. Lack of fair entrepreneurial division. Some banking operation is not changed at all,

which is very painful for most of the customers. Internal conflict of interest within the employees

which is not a good sign for the development of UCBL.

Therefore, introduction of such services would be an upgrade of facility to the customer.

Arrange more employees to reduce the pressure.

UCBL must do TVCs so that every initiative of the bank can go at the door of customers.

Training programmes should be taken more seriously.

Its facilities are very important to faster the activities.

Try to remove any conflict within the employees as early as possible.

Learning

As part of my auditing I got to learn many things regarding some common requirements and steps that are

followed by UCBL in general are:

For individual:

Application on the prescribed form.

Furnishing photographs.

Introduction by an account holder.

Putting specimen signatures in the specimen card.

Mandate, if necessary.

National ID or Birth Certificate or Passport or Driving license.

After fulfilling the above formalities, United Commercial Bank provides the customer a pay-in-slip

book and a cheque book.

For Partnership/Proprietorship Firm:

Partner‟s signature.

Partner‟s name.

Trade license of all partners.

Filled out application from stating about the name and address of firm.

Partnership deed.

Undertaking/declaration about the partnership is taken by the bank in a white paper (for

proprietorship firms).

Account agreement form.

For Limited Company:

Certified true copy of the Memorandum & Articles of Association of the company.

Certificate of Incorporation of the company for inspection and return with a duly certified

photocopy for bank‟s records.

Certificate from the Registrar of the Joint Stock Companies that the company is entitled to

commence business along with a duly certified photocopy for Bank‟s records.

Latest copy of Balance Sheet.

Extract of Resolution of the Board, General Meeting of the company for opening the account and

authorization for its operation duly certified by the Chairman/Managing Director of the company.

List of Directors with addresses.

Authorized signature & Name.

Conclusion

Banking system occupies an important place in a Nation‟s economy. A banking institution is

indispensable in a modern society. It plays a vital role in the economic development of a country and

forms the core of the money market in an advanced country. In recent times the banking sector over the

world has been undergoing a lot of changes due to deregulation, technological innovation, globalization

etc. Bangladeshi banking sector is lagging far behind in adopting these changes.

WEEKLY JOURNAL

WEEK-07

Introduction

This week I was completely involved with the Clearing department of UCBL Bashundhara R/A Branch.

This is very serious issue regarding cheque issues therefore; I had to be very careful completing my tasks.

Meanwhile I also served the customers who came for the cheque clearing purpose.

Key Resources

Date Description

(Sunday)

26.10.2014

Tuesday)

28.10.2014

(Thursday)

30.10.2014

On Sunday I was working in Clearing department by the order of honorable

branch manager. I was also ordered to work for the entire week in this

department to enhance my banking knowledge. It is a department which is

completely involved with the Bangladesh Bank. By collection of a cheque in

any other bank through Bangladesh Bank needs clearing. Every bank gets the

cheque from different bank which is sent to the zonal branch of the bank. Zonal

branch makes a sheet of this cheque and put the total amount on the cheque. The

officers related to clearing always attend the meeting in the clearing house of

Bangladesh Bank. And every bank submits their cheque list by the floppy disk

to the Bangladesh Bank. The officers are distributed the cheque to the related

bank officer. Here own bank is getting the cheque which is classifying (cheque,

pay order, demand draft/DD) by branch and total amount of the cheque are put

in the back side of the cheque. This was how the morning session ends.

Trainings include causes of disowner a cheque:

Insufficient fund.

Signature of related officer.

Cheque submitted by wrong way.

By an essential notice.

One cheque is going to another bank.

To submit wrong account number.

Show the wrong date.

At the evening session the officer are distributed the disowner cheque and then

own bank gets some disowner cheque which was distributed to the branch

representative. This is how the whole process concludes also the week conceded.

Recommendation

Scrolling is not so important. Although few bank maintain scroll system for their own safety. If a client

wants to deposited money in his account he must go to the scroll officer. Scroll officer at first see the

a/c no y2, name, signature and amount are put in the deposit book properly. After that scroll officer

puts the entry of the amount in the scroll registry, the serial number is then put on the deposit book.

Learning

Strategies:

Utilize all available resources to develop various plan, policies and procedures in each of the objective

and goal areas.

Synchronize and steady growth of the bank.

Implement plans, poleis and procedures.

Utilize team of professional employees.

Goals:

Develop a plan for offering better customer service.

Develop a realistic deposit mobilization plan.

Develop appropriate lending risk assessment system.

Develop capital plan.

Develop a system to make good advances.

Develop appropriate mgt. structure, system, procedures and approaches.

Develop scientific MIS to monitor banks activities.

Business Objectives:

Ensure 100 % recovery of all advances.

Ensure a satisfied work force.

Make sound loan and investment.

Build up a low cost fund base.

Meet capital adequacy recruitment at all the time.

Focus on fee based income.

Install a scientific MIS to monitor Banks activities.

Adopt an appropriate management technology.

Conclusion

The more I am working for this bank as an intern, the more I am able to many new things of banking

activities. Most of these are not mentioned in any book or course material. Therefore, the experience of

doing internship in a bank makes me more capable of being skillful in bank jobs in the near future. The

internship process can also be termed as a trial-basis experience before starting the job in a bank.

WEEKLY JOURNAL

WEEK-08

Introduction

This was the end of my second month and I was completely out of General Banking Division. Now my

duty was to get introduced to each and every single department as well as to work with them. To know

about banking in more details it was very much important to experience the other sides of the bank.

UCBL Bashundhara R/A Branch helped me very much in regard to this matter.

Key Resources

Date Description

(Sunday)

02.11.2014

The accounts department is the most delicate and the most confidential

department in a bank. The main task of this department is to record all kind of

transaction of the branch, confirming accuracy, preparing statement etc. under

the computerized banking system, today the clean cash statement and the

supplementary statement is in party ledger vouchers are printed of the

computer. I was completely shifted to the other sections apart from General

Banking. On the first day of this week I was given an excel sheet full of

thousands of data called “SunDry” Account to complete the reconciliation.

That‟s how I ended up the entire day.

(Tuesday)

04.11.2014

The other day I was given tasks full of L/C. Here, I was working as a co-

worker under a Senior Officer Named Md. Hafizur Rahman. Firstly, he briefed

me regarding L/C and what it does. Before opening L/C account many things

must be verified properly. Hence, I was involved with

L/C application properly stamped, signature verified and margin

approved and properly retained.

Validity of LCA entitlement of goods, amount etc.

Indent/pro-forma invoice signed by the importer and indenter/supplier.

Conversion and rate of exchange correctly applied.

Charges lick commission, Postage, Telex charge, if any recovered.

Insurance cover note in the name of issuing bank –A/C importer

covering required risks and voyage route.

In case of “Usance L/C”, mentioned rate of interest clearly in the letter

of credit.

(Thursday)

06.11.2014

On Thursday I was taught and trained on “Maintenance of Cash remittance”.

The In-charge of Cash Department maintains the cash remittance according to

the rules of the Bank. If the cash manager thinks that the amount of money

crosses the limit, then he calls the Principal Branch to take the extra amount of

money or vice versa. Inter Branch Credit Advice (IBCA) is used for such

transaction.

Recommendation

Offers more facilities to the customers such as Debit card, ATM booth etc. General working conditions

ought to be improved. Should have own photocopy machine in each floor. Should increase the number

of computers as well printers with proper UPS facility. PcBANK2000 database software has no option

for preparing Bank statement. It needs to be upgraded in order to remove this kind of problem. The

branch still works very manually; to accelerate the whole branch it should be automated. The Bank

should install highly automated banking software Flexcube in all other branches of UCBL to add value

to its service. This will allow other non-flexcube branches to be more active and work side by side like

the UCBL Bashundahra R/A Branch or Head Office.

Learning

The daily function of an accountant involves:

Posting transfer from one account to another account.

Preparing of the supplementary.

Posting of various transactions in the computer that occurs throughout the day.

The periodical function of the account department is to prepare different types of statement for its own

branch, head office, Bangladesh bank. The statements being:

Daily position.

Daily resources position.

List of all transaction in a day.

Comparative resources position etc.

Cash cum day book.

General ledger.

Weekly statement of affairs.

Conclusion

There are positive and negative sides of United Commercial Bank Limited. Although having a good

condition the bank lacks revenue comparing to other banks due to their some tradition process. If the

entire process can be modified like the Multinational Banks then it can add greater value to not only this

branch but also this bank as well.

WEEKLY JOURNAL

WEEK-09

Introduction

In the ninth week at UCBL, I was assigned to do some major activities. Depending on my work my

supervisor cum senior‟s work would be done. Therefore, I had to be very much cautious regarding

handling the activities with more care.

Key Resources

Date Description

(Sunday)

09.11.2014

I was assigned to do thousands of posting in the utility tool of Flexcube. I was

doing this for the entire day and then reported to my senior.

First, I entered the account number of our customer registered in

Flexcube.

Then I put the scroll and tapped on the edit option.

Finally, I clicked the posting option and have done the needful.

(Tuesday)

11.11.2014

I was given a task of internal audit with a vast concept. My duty was to check

and verify the following things:

Checking the vouchers if correctly authorized with UCBL transfer

seal.

Seal of posting attached properly.

Signature of cash officer was given properly.

Seal of cash dept. attested.

Signature of manager operation and branch manager are given.

Signature verification seal properly attested in the cheque slips.

Double order cancels marks properly put in the cheque slips.

(Thursday)

13.11.2014

On Thursday I have done the following things:

Went to the operation manager to authorize the vouchers with UCBL

transfer seal.

Attached the posting seal if not found.

Went to the cash officer if signature not found.

Cash dept. seal attested if not found.

Signature of manager operation and branch manager taken if not

found in any voucher.

If no signature verification seal attested as well as double order cancel

marks not found in the cheque slips then sent them for re-clearing.

Recommendation

In UCBL Bashundraha R/A Branch, the working condition is very well but most of the staffs are not

satisfied. Reasons are:

One single officer has to take the entire responsibility of accounts department where he was

supposed to work under a senior officer.

Only one single junior officer is held responsible for the card division.

There is no cash manager. The senior executive officer himself plays the role of both the

operation manager as well as cash manager.

The retail department is kind of steady which should be much smooth.

If one personnel takes a sick leave then the work is either stopped or cannot get the proxy

properly due to skill mismatch.

I, therefore, recommend increasing the manpower first. Without manpower the branch may lose its

revenue.

Learning

I learned the following things:

How to operate Flexcube for posting purpose.

How to check existing account of a UCBL customer with the new account number.

How to check the vouchers and correct it.

Conclusion

By the end of this week, I am capable enough of checking the vouchers. This is a very important task

regarding internal audit purpose. The branch manager, manager operation, and my direct supervisor were

very pleased to see me working in the right path and smoothly. Obviously without their help it wouldn‟t

have been possible.

WEEKLY JOURNAL

WEEK-10

Introduction

In the tenth week at UCBL, I worked under foreign exchange remittance service. Here customer can get

the remittance through cash or, payment order.

Key Resources

Date Description

(Sunday)

16.11.2014

To get this service customer need to provide photocopy of his or, her National ID

and need to provide the name and contact number of the sender. After checking all

the documents by the GB (General Banking) officer, he/she provides a voucher to

the customer and customer receive cash or, pay order from the cash counter by

showing that voucher. Customer does not need to wait a long periods of time to get

this service. From my experience I have to say that this bank needs to expand its

remittance service. Many people are not getting this service from this bank because

this bank supports the remittance only from some specific countries. If they

provide remittance from some other countries like Saudi Arabia, Dubai, etc it will

bring more profits. They can merge with MoneyGram to provide better remittance

service.

(Thursday)

20.11.2014

Foreign Exchange Department also has responsible for opening letter of credit

(L/C), buying and selling dollars, etc. When a company or a client want to open

L/C to buy products or, raw materials from other country or, within this country,

that client or, the company need to submit an application stating the amount of

Dollar which is necessary to buy the goods. The procedure and period of credit

payment need to be mentioned into that application and the description of the

product(s) and the description of the company from which the local firm will buy

the product need to be attached in the form of document along with the

application. Then this department contacts with the other local or, foreign bank

which is taking responsibility for that firm which is selling the products. That

bank will send the actual product description, country of origin, the way of

transportations (Road, Air, or, Sea), the vehicle name, etc. Then this department

will send a confirmation letter to that bank and give them payment and after

getting the confirmation that bank will send product document to UCBL.

Recommendation

Bank should expand their area for getting remittance more widely. If they increase their number of

country from where they will get remittance not only they but also the government will get benefit from

it. In terms of letter of credit (L/C) known people who have good dealing relation with bank gets top

priority.

Learning

When customer receives the product, UCBL informs the client or the company. After they give UCBL the

payment with commission, UCBL will provide them the product‟s document and by showing that

document to the customer they can collect their products.

UCBL papers / documents required for submission for opening of back to back L/C:

Master L/C.

Valid import registration certificate (IRC) & export registration certificate.

Pro- forma invoice or indent.

Insurance cover note with money receipt.

L/C application & LCA form duly filled in signed.

IMP form duly signed.

Conclusion

Foreign remittance means purchase and sale of freely converted foreign currencies as admissible

“foreign exchange regulations act- 1947” and “guidelines for foreign exchange transaction – VOL.1&2

of the country. Purchase of foreign currencies constitutes out ward foreign remittance.

So we see that there are two types of foreign remittance:

1. Foreign inward remittance

2. Foreign outward remittance.

WEEKLY JOURNAL

WEEK-11

Introduction

In the eleventh week at UCBL, I have worked under the credit department for the entire week. This

department provides loan to the customers. I have learned a lot about how the banks deal in providing

loans and collaterally relates with the general banking division in cheque issuing purpose.

Key Resources

Date Description

(Sunday)

23.11.2014

(Tuesday)

25.11.2014

I had been told to collect the cheques which are submitted to the UCBL

Bashundhara R/A Branch for clearing. If a customer submits a cheque(s) which

he/she has got from others it can be submitted into the General Banking

Department for clearing. Clearing means deposition of the cheque(s) amount into a

bank account. If a customer has a bank account at UCBL Bashundhara R/A

Branch, he/she will not be charged immediately but if a customer has an account at

UCBL but the account is not at the Bashundhara R/A Branch then the customer

will be charged and he/she needs to pay the charge at the cash counter.

There are many customers who have accounts at other branch and they frequently

submit their cheques. This service takes lots of efforts and time. But GB

department never hesitate to provide this service. In this department I am

responsible to take the charges from the customers and provide them information

why we are taking the charges.

I have learned a new term called the transfer amount. Transferring the fund from

one account to the other account can be done in two ways. A customer can fill up a

transfer request form. In that form he or she has to mention both the account

number. Another way is to providing UCBL cheques to payee. In the case of

transfer the sender or, the receiver should have an account at Bashundhara R/A

Branch to transfer money. In this day I have collected some cheques and gave

clearing seal in the cheques from other banks. From the clearing and transferring I

have learned that the cheque from other banks is subject to clearing and a cheque

within UCBL is subject to transfer.

I have received letter of other departments and kept the document of each letter.

Later on I have collect the cheques gave them clearing and transfer seals.

I have collected cheques for clearing and transfers. I wrote down some pay orders

(Thursday)

27.11.2014

and take some cheque book requisition. If any customer needs cheque books, he or

she need to fill up a form named cheque requisition form. On that form the

customer need to mention the account name and number and also need to give the

specific signature that is used to withdraw money from the bank.

Recommendation

No credit facility is to be released for utilization, if requisite documentation is not available or

proper deferral approvals have not been obtained. If there is any inadequacy in documentation as per

sanction advice, the Relationship Manager shall have to seek temporary deferral/waiver stating the

reasons and specific time frame.

Learning

To give loan UCBL takes mortgage in the form of documents. The officer of this department takes advice

from a lawyer at the time of agreements. This department checks the validity of the documents which are

provided by the borrowers. UCBL provides loan against asset (land, apartments, etc.), against salary of

the employees, against FDR (Fixed Deposit receipt), etc. UCBL provides loans and take installments

along with the interest from the borrower. The borrowers can deposit their installments to their loan

accounts directly to the cash counter. If any borrower fails to pay several installments he/she is considered

as a defaulter. The bank usually takes actions against the defaulter according to the law.

Conclusion

Working under credit department is tougher. Because the person in charge has to be very careful about the

client who is asking for lone. If the senior officer makes any mistake then the bank may lose a huge

amount of money.

WEEKLY JOURNAL

WEEK-12

Introduction

This was the last week of my internship at UCBL Bashundhara R/A Branch. I was tremendously happy to

see my internship process in the end. This week I went through some regular banking activities which I

have been doing in these three months.

Key Resources

Date Description

(Sunday)

30.11.2014

I have done following activities that day:

UCBL-Institutional Account preparing form total activities;

District-feni, Upazilla-Fulgazi (12)

District- Sunamganj, Upazilla- Bishwabharpur (8)

District-Jessore, Upazilla-Chowgacha (1)

District-Tangail, Upazilla-Gopalpur (1)

District-Mymensingh, Upazilla-Bhaluka (1)

District-Perojpur, Upazilla-Perojpur Sadar (6)

I have completed twenty nine preparing form activities on that day.

(Tuesday)

02.12.2014



District-Feni, Upazilla-Feni Sadar (17)

District-Brahmanbaria, Upazilla-Banahrampur (7)

District-Chuadanga, Upazilla-Alaudanga (1)

I have completed twenty four preparing form activities and settled one manager

that day.

(Thursday)

04.12.2014



District-Maulavibajar, Upazilla- Barlekha (8)

District-Chandpur, Upazilla-Chandpur Sadar (5)

District-Sunamganj, Upazilla-Jaganathpur (9)

I have completed twenty two preparing form activities that day.

(Sunday)

07.12.2014



District-Narsindi, Upazilla- Raipura (1)

Check list-1

District-Narsindi, Upazilla- Raipura (1)


District-Khulna, Upazilla-Dumura (24)

I have completed twenty five preparing form activities and checked one preparing

form.

Recommendation

E-Banking:

Actually no e-banking service is given by UCBL at present. The Small amount of e-banking it conducts

is information exchange in nature. Any Account holder of the branch or any customer who is residing

outside the country can ask and know about his account balance through e-mail with branch. Any query

between head office and a branch can be asked and answered through e-mail.

Therefore, the recommendation would be:

Enrich the E-Banking due to reduce the email pressure,

Develop customer satisfaction,

Reduce paper consumption.

.

Learning

In the tenure of my internship‟s last week I have learned the following things:

The Bank has been giving emphasis on financing eco-friendly business activities and energy efficient

industries like Effluent Treatment Plant. The Bank has recently financed Term Loan of Tk.16.85 Crore

to establish two brick fields using Hybrid Hoffman Kiln (HHK) technology.

UCB is already trying to provide online banking services to its valued clients through 115 branches. Our

valued clients are also using SMS Banking services offered by the Bank.

UCB is on the verge of selecting a robust Core Banking Software (CBS) covering all banking

operations including delivery channels as well as Offshore Banking and Islami Banking. With the

implementation of CBS, UCB will be equipped to offer more paperless and eco friendly banking

services.

To automate work flow, increase operational efficiency and to reduce carbon emission, UCB has also

taken the following measures and projects which are underway for implementation of corporate

objectives on green banking:

Implementation of Enterprise Resource Planning (ERP) software for Office Automation

Implementation of Corporate Intranet Portal

Implementation of a new Green Disaster Recovery Site (DRS)

UCBL exerts utmost effort to implement Green Banking and always eager to embrace latest technology

any methods to ensure eco-friendly banking operation.

Conclusion

This was my last week at UCBL Bashundhara R/A Branch. I went to office each day of this week and it

reminded me end of my internship every time. Even though it was my last week but I was occupied with

loads of works. Hence, I learned and practiced many things of banking which would be fruitful to

complete my graduation as a partial requirement as well.

Abbreviations

UCBL

ICC

CAMLCO

TP

AOF

KYC

ALCO

FDR

POS

IBC

OBC

SDK

DD

TT

MT

PO

EBIT

DPS

ROA

ROE

A/C

FC

L/C

IMP

FOB

CIB

CIF

United Commercial Bank Limited

Internal Control and Compliance

Chief Anti Money Laundering Compliance Officer

Transaction Profile

Account Opening Form

Know Your Customer

Assets/Liability Management Committee

Fixed Deposit Receipt

Point of Sales

Inward Bill Collection

Outward Bill Collection

Security Deposit Receipt

Demand Draft

Telephone Transfer

Mail Transfer

Pay Order

Earnings Before Interest and Tax

Dividend Per Share

Return on Assets

Return on Equity

Account

Foreign Currency

Letter of Credit

Import From

Free on Board

Credit Information Bureau

Cost Insurance & Freight

Internship Report on United Commercial Bank Ltd.

Career

Transcript of Internship Report on United Commercial Bank Ltd.