WEALTH AND PRIORITY BANKING: A NEW TRY-OUT OF STANDARD CHARTERED BANK FOR BANGLADESH

Report submitted in fulfilment of the requirements for the degree of Master of Business Administration with a major in HRM

MD. SHEHJAD ANJUMMATRIC NO.: M063089PROGRAMME: MBA

DEPARTMENT OF BUSINESS ADMINISTRATIONFACULTY OF BUSINESS STUDIES

INTERNATIONAL ISLAMIC UNIVERSITY CHITTAGONG

AUTUMN 2014

WEALTH AND PRIORITY BANKING: A NEW TRY-OUT OF STANDARD CHARTERED BANK FOR BANGLADESH

MD. SHEHJAD ANJUMMATRIC NO.: M063089PROGRAMME: MBA

Internship Duration: Sep – Nov, 2015Date of Submission: 10 December, 2015

SUPERVISORDR. MOHAMMAD AKTARUZZAMAN KHAN

ASSOCIATE PROFESSOR

DEPARTMENT OF BUSINESS ADMINISTRATIONFACULTY OF BUSINESS STUDIES

INTERNATIONAL ISLAMIC UNIVERSITY CHITTAGONG

AUTUMN 2014

LETTER OF TRANSMITTAL

10 December, 2015

The DeanFaculty of Business Studies International Islamic University Chittagong (IIUC)

Subject: Internship Report

Dear Sir,

Assalamu A’laikum Wbt. Wrt.

This is my immense pleasure submitting my internship report based on the topic of Wealth and priority banking: A new try-out of Standard Chartered Bank for Bangladesh.

This report is the upshot of my internship programme that correlated my academic study with practical organizational experience. During my internship period in Standard Chartered Bank (SCB), I have come to know, how actually, a commercial bank of high standard with international reputation like SCB can put in experiment a new concept or service for greater accommodation in a third world country. This was a new dimension of knowledge gathering for myself in particular and my department in general.

I beg your kind excuse for the unintentional errors, if any, in preparing the report despite my best efforts. I hope that you would be kind enough to receive this report, and oblige me thereby.

Sincerely yours,

(Md. Shehjad Anjum)Matric No.: M063089Programme: MBADepartment of Business AdministrationFaculty of Business StudiesInternational Islamic University Chittagong

PREFACE

International Islamic University Chittagong (IIUC) is well-reputed institution, which

aims at producing the learners’ with perfect knowledge, discipline and with moral values

since its establishment year 1995 under the private university Act-1992. Its purpose is to

educate capable young men and women with the board objective of introducing a seat of

higher learning and dissemination of knowledge on an international standard and is also

to develop in them a high level of interdisciplinary and professional knowledge, which

they can put to practical use.

The university has included a compulsory comprehensive internship course in BBA

programme to widen the academic knowledge and to bring the student additional to

institution education.

This report is based on the industrial internship programme carried out by me at

Standard Chartered Bank Limited. The objectives of the programme were to gather

practical experience about the working of the organization and to know how to

communicate the corporate and dealer and find out the comparative marketing strategy.

During my study period, I have discussed and consulted with the related and responsible

officials and dealer and collected relevant information on the questionnaire method

based. Thus I have been able to prepare this internship report in this form.

ACKNOWLEDGEMENT

It’s nearly OK

It is indeed a great pleasure and honor on my part to have the opportunity to submit this

report after three months of practical orientation in Standard Chartered Bank Limited. I

would like to offer my heartiest gratitude to Allah (SWA) for which this report would

have not been possible to prepare and submit in time.

At the very outset, I am grateful to my supervisor Dr. Mohammad Aktaruzzaman

Khan, Associate Professor, for his generous guidance, never-ending support until I

finished this report. My special thanks goes to Mr. Nazamul Hoque, Assistant Professor

and convener of MBA internship programme, for his sincere advice and guidance in

presenting this internship report.

I would also like to thank Prof. Dr. Farid A. Sobhani, Dean of the Faculty of Business

Studies. It is a great pleasure to express my heartiest gratitude to all teachers of the DBA

for their valuable suggestion and kind co-operation extended to me during the period of

internship.

I would like to express my heart-felt gratitude to Mr.

Md. .................................................. of Standard Chartered Band, Bangladesh and all

other members of Standard Chartered Bank for their ample support rendered during

my internship program to me.

EXECUTIVE SUMMARY/ABSTRACT*

Re-write this for executive summary - a paragraph each under the following

headings

The company

The problem or opportunity

Methodology This report has been prepared on the basis of the experience gained during the period of the internship. The significant feature of the report is the use of both primary and secondary data. Before collecting primary data, a questionnaire has been prepared. The selected questions have asked to the selected expert official. I have collected the primary data from the sample units by direct interview method and focus group method.

The secondary data or the sources of secondary data were as some articles, online searching, papers, reports, documents and records of the organization.

For making this study more informative, useful and effective the data have been collected, processed and analyzed carefully and sincerely, so that it is according to the expectations of the related concerns..Key Parts of the report & your findings and solutions provided in the report

Benefits to the company / institution through your report

* NOTE: Write Abstract for Dissertation (in a shorter form than Executive* NOTE: Write Abstract for Dissertation (in a shorter form than Executive Summary) Summary)

TABLE OF CONTENTSTABLE OF CONTENTSRewrite thisRewrite this

Sections Description Page No.

TITLE PAGE iLETTER OF TRANSMITTAL iiACKNOWLEDGEMENT iiiEXECUTIVE SUMMARY iv

1.0 INTRODUCTION1.1 Background 11.2 Statement of the Problem 21.3 Objectives of the Study 3

1.3.1 Broad objectives 31.3.2 Specific objectives 3

1.4 Significance of the Study 31.5 Hypotheses 41.6 Rationale of the Study 51.7 Scopes and Limitations 5

2.0 LITERATURE REVIEW2.1 Mission 62.2 Vision 62.3 Objectives 72.4 Organizational Structure 7

3.0 METHODOLOGY3.1 Data Source/Collection 93.2 Sample Design 93.3 Questionnaire Design 103.4 Data Collection Method 113.5 Data Analysis 123.6 Presenting Results 13

4.0 DATA ANALYSIS AND FINDINGS4.1 Market Analysis 144.2 Economic Analysis 154.3 General Feasibility 16

5.0 CONCLUSIONS AND RECOMMENDATIONS 18Notes 19APPENDICES 20REFERENCES 22

INTRODUCTIONINTRODUCTION

1.1 BACKGROUND

1.2 STATEMENT OF THE PROBLEM

1.3 OBJECTIVES OF THE STUDY

Broad objective

To measure the degree of satisfaction level of credit card holders.

Specific objectives

To discuss the product credit card.To find out the level of credit card users of SCB and their different queries regarding cards.To find out the factors on which the level of satisfaction of credit card holder’s depends.To suggest ways of improving the service standard and satisfaction level of the customers.

1.3 SIGNIFICANCE OF THE STUDY

11

1.4 SCOPE AND LIMITATIONS OF THE STUDY

CHAPTER II

PROFILE OF THE COMPANY (internship)

LITERATURE REVIEW (if Dissertation)

ORGANIZATION PROFILEORGANIZATION PROFILE

2.1 MISSION

2.2 VISION

2.3 OBJECTIVES

22

2.4 ORGANIZATION STRUCTURE

Chief Executive Officer (CEO)

Head of Consumer

Head of Corporate

& Institutions

Head of Finance

Head of HR

Head of Institutional

Head of GSAM

Chief Operating Officer

Head of Global Markets

Senior Credit Officer

Head of Legal & Compliance

Head of Information

Head Corporate & External

Affairs

Figure: 2.1 Organogram of SCB Bangladesh

CHAPTER III

METHODOLOGY

METHODOLOGY OF DATA COLLECTIONMETHODOLOGY OF DATA COLLECTION

3.1 DATA SOURCE

Primary sources

Structures/unstructured questionnaires for customer opinions

Informal discussions with the SCB personnel

Observation of banking activities

Secondary Sources

Website of Standard Chartered Bank

Different brochures and newsletters of SCB

3.2 SAMPLE DESIGN

As the research is done on the customers of Standard Chartered Bank, I took the

respondents only from the Jubilee Road Branch credit card division, which was designed

in consultation with my supervisor. The sample size consisted of 50 respondents. The

total interviewed persons were 63. But after deducting the error on 50 questionnaires

were taken into consideration.

3.3 QUESTIONNAIRE DESIGN

For this research purpose, I used the questionnaire as a tool, which helped me to conduct

my survey.

Nature of Questionnaire: The questionnaire is formed with close-ended

structured questions, and some disguised questions are also included to find the

actual picture. The questionnaire is consisted of 33 questions.

Information type: I asked questions to the respondents concerning their

knowledge about credit card, whether they are aware of the difference features of

credit cards, what are their expectations, likings and disliking about this product,

how they feel about the services provided by the bank etc. In a nutshell, I would

like to achieve my purpose behind conducting this research.

33

3.4 DATA COLLECTION METHOD

Data were collected mainly through personal interview. That means, to conduct my study

I personally went to the respondents in the branch to fill up the questionnaires by them. It

was not an easy task, especially in a branch. Most of the respondents were unwilling to

fill up the questionnaire. However, I have managed to collect my desired number of

questionnaires.

Other than that I also tried to observe and to listen to the queries of the respondents,

which also helped me to make my own opinion regarding the respondent’s responses

toward the questionnaire. Last but not least I had informal interview with the staffs of

this Jubilee Road Branch.

3.5 DATA ANALYSIS

For the data analysis, computer software (SPSS version 19.0) is used, which helped me

to make the analysis of data collected during the research easier, more efficient, and more

effective.

Mean, frequency: To understand the average opinion of the respondents and the

percentage of responses I used the mean, frequency and related calculations.

Regression: In order to understand the statistical significance between the

dependent and independent variables of my study I used regression as part of the

statistical tool.

3.6 PRESENTING RESULTS

This report contains:

The introduction part includes the problem statement, scopes, and limitations of

the study.

Second chapter is the organization profile part. It provides the historical

background of Standard Chartered Bank, its state of affairs in Bangladesh, SCB’s

product and services, SWOT and industry analysis.

Third chapter provides the methodology of data collection.

The fourth chapter of this report is the most important part, as it provides the data

analysis and findings.

Last but not the least, in the final chapter there are the conclusion and

recommendation provided for Standard Chartered Bank credit card service.

CHAPTER IV

DATA ANALYSIS ANDFINDINGS

DATA ANALYSIS AND FINIDINGS DATA ANALYSIS AND FINIDINGS44

FINDINGS FINDINGS44

CHAPTER V

CONCLUSIONS ANDRECOMMENDATIONS

CONCLUSION AND CONCLUSION AND RECOMMENDATIONS

5.1 CONCLUSIONS5.1 CONCLUSIONS

5.2 RECOMMENDATIONS 5.2 RECOMMENDATIONS

55

REFERENCES

Khandker, S. (1999). Fighting poverty with microcredit: Experience in Bangladesh. Dhaka, Bangladesh: The University Press Limited.

Coleman, P. C. (1999). Identity management in later life. In R. T. Woods (Ed.), Psychological problems of ageing: Assessment, treatment and care (pp. 49-72). New York: Wiley.

Hoque, M. (1994). Human resource development and organizational effectiveness. In R. B. Talukder (Ed.), Management of change in South Asia (pp. 433-451). Dhaka: UPL.

Tian, C. S., & Kok, L. P. (1991). Parent adolescent communication in Singaporean families. In Psychiatry in the 90s: ASEAN perspectives: Proceedings of the 3rd ASEAN Congress on Psychiatry & Mental Health (pp. 315-320). Kuala Lumpur: Malaysian Psychiatric Association.

Khan, M. A., & Jahur, M. S. (2007). Human resource development practices in some selected business enterprises in Bangladesh – An explanatory study. Indonesian Management and Accounting Research, 6(1), 16-32.

Weld process changes enhance productivity. (2001, September). Welding Design & Fabrication, 74(9), 24-27.

Davie, S. (2005, August 7). NUS in top 10? It's poised for leap. The Straits Times. Retrieved October 6, 2005, from Factiva.

Aowrangazab, A. (2005). Industrialization process in Bangladesh: An evaluation of the role of state, policy measures, strategies, problems, and prospects. Unpublished doctoral dissertation, University of Chittagong, Bangladesh.

Fredrickson, B. L. (2000, March 7). Cultivating positive emotions to optimize health and well-being. Prevention & Treatment 3, Article 0001a. Retrieved November 20, 2000, from http://journals.apa.org/prevention/volume3/pre0030001a.html 

United States sentencing Commission. (n.d.). 1997 sourcebook of federal sentencing statistics. Retrieved December 8, 1999, from http://www.ussc.gov/annrpt/1997/sbtoc97.htm.

World Bank. (2012). Country profiles at a glance – Bangladesh. Retrieved February 2, 2012, from www.worldbank.org.

APPENDIXAPPENDIX

Appendix 1: Ready-made Garment (RMG) Export and Total Export of Bangladesh (1983-1998)

Appendix 2: Ready-made Garment (RMG) Export and Total Export of Bangladesh

1983-84

1987-88

1983-84

1983-84

1986-87

1983-84

1985-86

1984-85

1983-84

% of RMGs to Total Export

Total Export of Bangladesh

(In million US $)

Export of RMG(In million US $)

Year

QUESTIONNAIRE

(if any)