I am pleased to submit my Internship Report on Exim Bank Limited Promotional Activities assigned to me. To make this report more valuable, I have gone through some books, magazines, articles and annual reports of Exim Bank Limited. I hereby inform you that an internship report on ''Promotional Activities of Exim Bank Limited'' has been prepared as a part of my internship formalities.
Certified that this internship report titled on "Promotional Activities of Exim Bank Limited" is a Bonafide work of Fardin Farib Apurbo, who conducted the research under my supervision.
Chapter One
Introduction
- Introduction
- Rationale of the Study
- Origin of the Report
- Objectives of the Report
EXIM Bank Limited was incorporated in Bangladesh as a banking company under the Company Act 1913 and commenced operations on June 2, 1999. Exim bank limited has already become one of the renowned banks for its excellent customer service, currency and trading facilities.
Specific Objective
- Methodology of the Report
- Scope of the Report
- Benefits of the Report
- Time line of the project
- Limitations of the report
I have made all my efforts to represent my work experience and knowledge about their performance, problems, opportunities and prospects on the basis of general banking. Furthermore, I have prepared this report based on my practical experience on the day-to-day banking activities, theoretical knowledge and under the close guidance of my official supervisors and colleagues. So, the report titled “Promotional Activities of Exim Bank Limited” was achieved as a fulfillment of BBA program credited by the Sonargaon.
As far as my internship is concerned, the main objective of the study is to have a practical knowledge of the functions of the Activates promotional system which is being studied by Exim Bank Limited. This report is mainly based on my observations through my internship program.. From my academic experience I have studied various search methodologies. It includes various aspects of general banking procedures and their effects on the performance of banking activities of Exim Bank Limited.
The following table indicates my proposed time frame for the internship to prepare the report. All required information is not available in any single branch of the bank. Limited scope of visits to more than one branch. Due to time constraints, many of the aspects could not be discussed in this report.
Chapter Two
Literature Review
Literature Review
One of the sectors within the service industry that has been most affected by the changes in the globalization process, and at the same time has become highly internationalized, is the banking sector (Sanchez-Peinado, 2003). Zineldin further states in his writing that banks are no longer in the business of buying and selling money. According to Rowly (1998), promotion is used by organizations to communicate with customers regarding their product offerings and also to ensure that customers are aware of the products available. 1998), describes the promotional strategy as a controlled and integrated program of communication methods and materials designed to present the organization and its products to customers and contribute to long-term profits.
Grankvist, Kollberg & Person (2004) argue that with the growing importance of the financial sector, pressures to manage the marketing of financial services more effectively are intensifying. Further growth in terms of turnover and profit thus has a major impact on other parts of the economy. For this reason, human resources are one of the most important resources of the bank.
Their competence will determine the quality of the bank and its performance (Marquardt, 1994). In the process of Bangladesh's development, banks will have to take on more responsibility than before to meet the financial needs of customers from various sectors of the economy. Messages are much more likely to be received and properly decoded by those who are interested in the content of the message.
Chapter Three
Overview of Exim Bank Limited
- Historical Background of Exim Bank Limited
- Company profile
- Mission
- Objectives of EXIM Bank Limited
- Corporate Culture
- Organogram of EXIM Bank Limited
- Organizational Structure of EXIM Bank, Panthapath Branch
- Main Operational Areas
- SWOT Analysis
EXIM Bank Limited was established in accordance with the laws and regulations of Bangladesh Bank. Since its inception, Exim Bank Limited was known as Exim Bank which stands for Bangladesh Export Import Bank Limited. Exim Bank Limited believes in working together with its valued customers, in pursuit of growth and prosperity without sacrificing service.
Exim Bank focuses on continuous development at all levels to achieve these set goals as they believe that the line of excellence never ends. As a commercial bank, EXIM Bank Limited offers all traditional banking facilities including various savings and investment scheme products, foreign exchange and ancillary services with full support of specialized management and current technology. In addition, EXIM Bank is committed to customer retention through customer relationship management and financial advisory services.
Strengths: The strengths of Panthapath Branch which can be confirmed by EXIM Bank Limited and SWOT analysis are given below. All activities of EXIM Bank Limited are conducted in accordance with the rules and regulations of Islamic Sharia, and profits are a legal substitute for interest. Quality Services EXIM Bank Limited, Panthapath Branch has a cooperative corporate culture that motivates employees to work harder.
EXIM Bank Limited, Panthapath Branch was established to add one more person to its product line Competitive edge over competitors. All the existing and upcoming multinational, private and foreign banks are creating a big threat to EXIM Bank Limited.
Chapter Four
Internship Duties, Responsibilities, Learning
- Internship joining letter
- Duties and Responsibilities as an Intern
- Account Opening
- Cheque Requisition Form
- Checking Bank Balance of the Customers: Now, if any customer wants to check their balance, it was my responsibility to check the balance at the bank
- Problems that I faced as an Intern
- Impacts of Internship Experience in My Career
The internship program starts from the date of employment of the intern at the bank/branch. He will have to be regularly present at the place where he is delegated to work on his project. He will also be required to submit 1 (one) copy of his Internship Report with accurate information about the project he will be working on to the relevant site/division for their report and necessary action.
Two copies of the recent photograph and the candidate's photograph, and a copy of the client's and candidate's ID card. Fill in the register of a newly opened bank account with the name of the account holder, account number and date of opening. It was important to fill in these documents in order to open an account with the bank.
EXIM Bank's internship program is unpaid, but unfortunately the working environment is better than paid. The software used by Exim Bank was not fully accessible to their trainees, only theoretical knowledge was given, which was not enough to know the general working methods of the bank. The employees of EXIM Bank were very nice and polite. Bank Limited operates in this country on a general banking basis.
Chapter Five
Overview of promotional activities of Exim Bank Limited
The Concept of Promotional Mix of EXIM Bank
The main goal of marketing is to build a strong and profitable customer base to accelerate the sales of the company. According to Kotler and Armstrong (2006), Promotion means activities that communicate the benefits of the product and convince the target customers to buy it. Typically, under a promotional mix, a company uses six instruments. Advertising: It is a non-personal form of communication by which a company presents and promotes ideas, goods or services to persuade the public to buy something or take action.
Sales Promotion: Through sales promotion, a company provides various short-term incentives to customers to motivate the purchase or sale of a product. The incentives can take various forms such as price reduction, free gifts, buy one, get one free etc. Peatti & Peatti (1994 ) argue that normally coupons, special offers and other forms of price manipulation are the dominant forms of sales promotion are. Meidan (1996) argues that sales promotion in financial services seems to be used most effectively in conjunction with advertising. Personal Selling: Sometimes companies build an efficient sales team that tries to motivate potential customers to buy from the company through personal interaction.
Direct Marketing: According to Kotler (2006), direct marketing indicates direct connections with carefully targeted individual customers to both achieve an immediate response and cultivate lasting customer relationships. The financial sector has extended its face-to-face sales to direct marketing of products and services in the form of telephone, mail or computer transactions. Commercial banks now a day participate in various events and thus try to promote their products.
Promotional Activities
Newspaper Ads: In various newspapers, mainly on the front page or second, third page or middle or sports page, they place their ads. In different magazines: In different political magazines or business magazines we have found their ads for different loan products or elements of corporate banking like this. Social marketing like sponsorship of tree plantation program especially in roadsides: They support many social development organizations by providing funds to arrange or organize workshops, training programs etc.
Advertising in radio stations: EXIM Bank also places their different kinds of advertisements in different radio stations or we can call it FM channels; etc.
Chapter SIX
Findings and Analysis
Findings
EXIM Bank promotes them by participating in different types of programs, sponsoring many functions, organizing various types of events, etc. EXIM Bank supports DMP to build “One Stop Service Center” at DC Police Office, Tejgaon in Dhaka. EXIM Bank is distributing prizes of Wall Magazine competition to commemorate the occasion of International Women's Day 2009.
Analysis of Promotional Expenses with Total Profit
Chapter Seven
Recommendations and Conclusion
Recommendations
We would like to give some suggestions and support to overcome the problems related to the above EXIM Bank Limited problem and improve the performance of this bank in general banking. EXIM Bank should use the modern banking technique and technology to provide quality service sports distributors. They should increase the departmental and staff meeting at branch level to improve better service quality of the bank.
To build Aston's image and reputation, EXIM Bank should emphasize its advertising and promotional campaigns in the competitive market. Systematically add a fully computerized comprehensive bank to provide faster and better customer service, establish a network system for all branches, and send data and important information in a short time. EXIM Bank should organize a mining meeting and training program for its interns to help them gain knowledge and experience the workplace.
To provide fast service to your customers, you need to use the appropriate banking software.
Conclusion
