With due respect, I would like to inform you that I have prepared my internship report on "General Banking Activities of Standard Bank Limited-A Study at Savar" under your kind supervision. However, I am very grateful to several people at Standard Bank Limited, without whose support the report would have been really difficult to carry out. The second chapter is the Organizational part of Standard Bank Ltd. where I tried to get an overview of Standard Bank Ltd.
The report has been prepared by a careful review of published annual report, case study and discussion with responsible persons in Standard Bank Ltd. While working with the general banking division of Standard Bank Ltd., I have been trying to figure out some problems. I will be working at Savar Branch of Standard Bank Limited to complete the internship program as an academic requirement.
It mainly helps to collect data regarding the overall banking activities and other sector of Standard Bank LTD.
1 .Direct observation
Interviewing & conversation Secondary Sources
- Limitations of the Study
Busy working environment
All officers are not well informed
Insufficient data
Historical Background of SBL
Nowadays, the process of banking is getting easier, super faster and the area of banking is getting wider. Standard Bank Limited (SBL) started its journey in the financial sector of the country as an investment company as early as 3 June 1999. The company operated with 4 branches until 1999 and then with the permission of the Central Bank converted into a fully scheduled private commercial bank on 3 June 1999 with paid up capital of Tk.
There is a positive organizational climate in the Bank which generates a sense of dignity, trust, discipline and openness in its people and results in them being monitored to continuously achieve better results in the Bank. The culture of maintaining a pleasant working environment in the Bank has further enabled the staff to better measure themselves against management expectations. The bank has set a new standard in financing in the industrial trade and foreign exchange business.
The various deposit and loan products have also attracted customers, both corporate and private, who feel comfortable doing business with the bank. It emerged as a new commercial bank to provide efficient banking services and contribute to the socio-economic development of the country. The Bank commenced operations on June 3, 1999. The aim of the company was to mobilize resources from within and invest them in such a way as to promote the industrial development of the country.
Vision, Mission & Objectives
Vision
Mission
Objectives
Products & Services
Standard Bank at a Glance
The highlights of financial position for the last 2 years are given below:-
SWOT analysis
1.Internal atmosphere Analysis: It includes strengths and weaknesses
2.External Environment Analysis: It includes opportunities and threats The acronym for SWOT stands for
STRENGTH • WEAKNESS •
STRENGTHS: As an outsized bank, it has qualified and experienced manpower
WEAKNESS: As several employers retired from the bank, there is a crisis for manpower in the bank
THREATS: Newly developed privatized and foreign banks
Products and services of Standard bank limited
The bank has highly qualified skilled workers United Nations agency has the potential to manage and meet all the needs of the bank. Each account is appointed associate degree account manager, United Nations agency who takes care of it personally and is accessible for discussion and inquiries, whether you write, telephone or call or not. Standard Smart Savings Scheme Standard Money Dual Scheme Monthly Benefit Deposit Scheme Standard Money Making Scheme Standard Education Scheme Fixed Deposit Receipt (FDR).
- CREDIT CARD
- Other facilities provided by Standard Bank Limited
- Any Branch Banking
- Phone Banking
- Automated Teller Machine (ATM)
- Utility Service
- Mobile Banking
With the help of any bank branch, customer can deposit or withdraw money from any branch of Standard Bank in Bangladesh. Any Bank Branch can be a good option for customers to operate their accounts from any of our branches they want. Mainly the customer running his/her account in breach is known as home branch and from the other branch the customer wants to operate their accounts is known as remote branch.
Through this action the account holder of 1 branch can deposit his/her check in his/her account from another branch. SBL customers are able to obtain information using the telephone outside regular banking hours. SMS Banking can be a portable technology that enables the customer to request and receive banking documents from the bank to the portable customer through the convenience of short messages.
Individuals or businesses can maintain bank accounts, can check their account balance, can transfer their money, can pay bills and can also do other banking transactions using mobile phones. Through online services and Visa Electron (debit card), ATMs now allow customers to obtain 24/7 account information such as account balance checks through mini statements and cash withdrawals. As the settlement bank for the Q-Cash network, Standard Bank plays a leading role in expanding and sharing the ATM network with various banks at a competitive price.
Standard Mobile Money enables subscribers to quickly, easily and securely transfer balances to other subscribers via their mobile phones. Any mobile subscriber can use the mobile money service, and after a transaction is completed, both parties receive an automatic SMS message as confirmation.
GENERAL BANKING ACTIVITIES OF PRINCIPLE BRANCH
Account Opening Section
- Job Description
Making various kinds vouchers about above transactions
Giving support to the valued shoppers of the Bank
- Types of Deposit Accounts
- Kinds of Account Holders in SBL
- Current Deposit Accounts
- Savings Account
- Fixed Deposit Receipt
- Lakhopati Saving Scheme
- Standard Smart Savers Scheme
- Present Situation of Deposit in SBL
- Cash Department
- Job Description
- Receipt and Payment of Cash
- Balancing, Checking and Safe Custody of Cash;
- Local Remittance
- Demand Draft (DD)
- Telegraphic Transfer or Telephonic Transfer (T.T)
- Clearing Department
- Inward Clearing
- Outward Clearing
- Inward Transfer Delivery
- Outward Transfer Delivery
- Return of the Cheque
Standard Bank Limited allows the opening of accounts of the following categories of depositors and for exemption. Corporations, autonomous bodies are organizations created by special acts of parliament or by Presidential Order. Administrators the square measure determined by the court in the absence of the can of the deceased.
After receiving the money, the receiving employee will record the denomination of the currency on the back of the voucher and enter the information in the cash receipt book under progressive serial number. The receiving employee totals the amounts entered in the money receipt book when the business closes, and he agrees with all the actual money received. Cash received therefore and balanced area unit is placed on an individual basis in the cabinet's safe.
The cash is counted and the unit denominations of the banknotes are written on the back of the instrument. The stamp is affixed to the front of the instrument and signed by the payer. The cash balance book is checked against the closing numbers of the previous day's lager beer and the disbursement numbers of the receipts and payments book.
The signature of the payee is taken on the duplicate copy of the note and filed in the "Cash Position Note File". Unlike Cheque, there is no risk of dishonoring the payment order as a result of the payment order before issuance, the bank receives the money of the payment order in advance. Instruments issued at Standard Bank are received from other banks at the Clearing House by the Bank's representative branch.
For payment of bills of exchange assigned to a specific branch of the bank through another branch of the bank, the procedures are the same as those applicable to inward clearing. For grouping bills of exchange by a specific branch of the bank, drawn on another branch of the bank, the procedures are the same as those applicable to outbound clearing.
GENERAL DISCUSSION AND FINDINGS
Specific Findings
The bank's senior management, which is the key strength for The Standard Bank, has contributed strongly to the bank's growth and development. The senior management officers measure the highest rank of the army to have an honest plan regarding this situation. The popularity of this bank is increasing day by day jointly in the public space.
The bank has already engaged the retail banking division to sell their products and increase customers or clients. More about laptop written statements square measure on the market for internal use and rarely for the buyer. Their media coverage of Standard Bank is so low that people do not know the bank thoroughly.
The interest rate for loans and advances at Standard Bank is much higher than the interest rate for deposits in an Excel account. The hierarchy problem is treated as a weakness for The Standard Bank because the employee will not stay long. The Loans and Advances Department takes a lot of time to process a loan as the process of sanctioning a loan is done manually.
Sometimes the securities taken against the loan framework are deliberately disputed by the workers to illegally facilitate the buyer. From the overall performance evaluation I find that recently the profit of TL is not good enough as the previous two years.
CONCLUSION AND RECOMENDATIONS
Conclusion
Standard Bank limited pursues a policy of decentralized management and gives employees adequate freedom at work. This means less pressure for employees and acts as a psychological tool for them, giving them more encouragement and inspiration to move up the ladder of success. The profit the bank earns is used for Standard's charitable activities.
The bank is data format and the achievement of varied welfare comes and activities for the socio-economic infrastructure development of the country and therefore the active participation in the upgrading of the comparatively weak category of the society, instead of the accumulation of profit. It has joined with several foreign banks to facilitate the transfer of foreign currency by the members of soldiers working within the international organization and emigrating Bangladesh. The report is aimed at learning and understanding the various services that TBL offers to its buyers.
In addition, the report also studies how Standard Bank Limited has sustained the growth of its general banking business by maintaining and improving its relationship with its customers. The success of Standard Bank limited is largely attributed to its friendly, collaborative approach, understanding each customer's unique banking needs and concern for benefits and welfare. From the beginning, Standard Bank Limited's primary objectives were to increase capitalization, to maintain disciplined growth and high corporate ethics, and to improve shareholder health.
So, now Standard Bank Limited is in the leading position in Financial Institutional sectors in Bangladesh. In this arena, private commercial banks play an important role in the development of our economy. We expect that the Standard Bank Limited can keep its outlook in the future and play an important role in the socio-economic development of our country.
Recommendations
