Subject: Submission of Internship Report on "General Banking Activities of Sonali Bank Limited.". With due respect, I would like to declare that I have completed my Intern Report on “General Banking Activities” at Sonali Bank as part of my MBA program. The report titled “General Banking Activities of Sonali Bank Limited” is submitted as a partial requirement of the MBA program.
This is Mahbub Alam bearing a student ID, a student of Daffodil International University under the Department of Business Administration hereby declares that the presented internship report titled “General Banking Activities of Sonali Bank Limited” is uniquely prepared by me after have completed three months internship in Sonali Bank Limited, (College Gate Branch). The purpose of the study is to understand the general banking activities and practices carried out by Sonali Bank Limited. I choose sonali bank limited which is one of the most popular scheduled bank in new banking area for my internship program.
Basically this report is based on practical working experience with general banking activities of Sonali Bank Limited. In this report I will try to make an overall analysis about all activities of sonali Bank Ltd.
Scope of the Study
Origin of the Study
Objectives of the Study
To gain an in-depth understanding of the functions of each department of General Banking.
Methodology of the Study
The necessary tables have been prepared on the basis of the collected data and various statistical techniques have been applied for analysis on the basis of the classified information.
Rationale of the Study
Literature review
So far, research has been conducted on ways to measure and promote general banking activities by measuring and insuring bank customers, tools for general banking activities. Avkiran (1995) discussed that the financial activity of banks and other financial institutions has been measured using a combination of financial ratio analysis. Asset management, bank size and operational efficiency are used together to examine interrelationships and financial performance.
Spathis and Doumpos (2002) examine the efficiency of Greek banks relative to their asset size. In their study, they used a multi-criteria methodology to rank Greek banks according to yield and operating factors and to show differences in bank profitability and professionalism between small and large banks. Elizabeth Duncan and Elliott (2004) discussed that a paper entitled Competency, Customer Service and Funding Performance among Australian Financial Institutions found that all measures of financial performance such as interest margin, return on assets and capital adequacy were positively related to customer service quality ratings.
Mahatma (2005) By better understanding the overall banking activities, companies can determine the actions needed to meet customer needs. Measuring overall banking activity helps drive a greater focus on customer outcomes and drives improvements in work practices and processes used across the business.
Limitations of the Study
Chapter: Two
COMPAY PROFILE
- Company Profile
- Management
- Organization
- Corporate Information of Sonali Bank
- Functional Hierarchies
Soon after the country's independence, Sonali Bank emerged as the largest and leading nationalized commercial bank upon the proclamation of the Nationalization of Banks Ordinance 1972 (Presidential Order-26), which liquidated the then National Bank of Pakistan, Premier Bank and Bank of Bhowalpur. As a fully state-owned institution, the bank had fulfilled its nation-building responsibility by undertaking government-entrusted various socio-economic schemes as well as money market activities of its own volition covering all areas of the economy. The bank has been converted into a public limited company with 100% ownership by the government and started functioning as Sonali Bank Limited from 15 November 2007 and took over all the assets, liabilities and business of Sonali Bank.
After corporatization, the management of the bank was given the necessary autonomy to make the bank competitive and run its business efficiently. The Bank is headed by the Managing Director and CEO, who is a renowned Banker and a reputed professional. The corporate headquarters of the bank is located in Motijheel, Dhaka, Bangladesh, the main commercial center of the capital.
Committed to expanding a range of quality products that support people's diverse needs, aimed at enriching their lives, creating value for stakeholders and contributing to the socio-economic development of the country. Finance Payment Services Compactness of Resources Allocation of Resources Speciation Economy of Scale Real Investments Real Savings Economic Growth 13 In short, the above definition we can say that the bank is a financial institution that receives savings from people and invests these savings in the customer to earn profit and other financial transactions with interest. The management of the bank is vested in a Board of Directors, subject to overall supervision and direction on policy matters by the board constituted in terms of Bangladesh Bank (Nationalization) Order 1972.
Other members of the Council, including M.D., were also appointed by the government because at least three have the expertise in the fields of Finance, Banking, Commerce, Trade, Industry and Agriculture. Consequently, the Bank's strategy is to attract, retain and inspire the most talented and successful people. The Bank has developed a detailed HR manual and service rules covering the recruitment guidelines, promotion criteria, training and other related issues.
HR manual and employment rules are reviewed and updated to keep it up to date and maintain employees' interest in the Bank's success. The preference of the new employees can be done either by the new employee's supervisor or by the people in the personnel department. There are 2 overseas branches at U.S.A. UK) The head office of the bank is located at sonali Bank Motijheel C/A, Dhaka.
Head Office
M Office Area Office
Branch Office
Interest Rate
Sonali Bank of Interest Rate
Core Business of Sonali Bank Ltd
Product/ Service Schemes
Chapter Three
General Banking Areas
Introduction of General Banking
It is the storage point where customers can store all kinds of purposes in transactions. Customers who come first or hourly, no matter what, the bank is obliged to provide their services. Most of the bank's customers are directly dependent on this department as it provides all the services that a customer needs in day-to-day transactions.
This front service department takes care of all its customers as well as the image of everyone built on it.
Functions of General Banking
Divisions of General Banking
- Account Opening
- Remittance Section
- Bills and clearing Section
- Cash Section
A settled shop account holder should deposit so much money with the bank without a moment's delay and the sum for deposit will be drawn for the development of the record. After that he gets a check book issued in favor of applicant and he becomes an account holder of the bank. If any of the applicants die, how will the equalization be paid and to whom will the securities (if any) be transferred.
All joint account holders must sign each directive and account opening form. If the candidate is a sole proprietorship, he must submit a trade license obtained from the particular authority and seal of establishment. After accepting the application, the bank deducts the service charge as closing costs from the balance and the rest of the money is given to the account holder.
When the bank is properly informed about the message of death of the account holder. After completing the application form, the sender will post the cash-in-cash receipt section. Postal Transfer (MT): MT is another widely used tool to transfer funds from one branch of a bank to another branch of the same bank.
To maintain the confidentiality of the sent message, the issuing branch encrypts the message with a certain number consisting of several digits. The bank synthesizes the closing balance with the opening balance and at the end of the day, this is the last cash in that bank. A token that is matched with the check and then issued to the customer under the supervision of the official.
Then a principal officer will verify the signature, amount of money and validity lock of the check. This is the cash receipts department where all the deposits are kept in a ledger book. When banking hours end and if the issue date of the check exceeds 6 months, the bank can dishonor the cheque.
The mail and delivery section of a bank maintains all records of letters, memos, documents, etc. Document numbering is very important to explore the account when needed.
Chapter Four
SWOT ANALYSIS
- Job Description
- Lesson Learned from Internship Program
- SWOT Analyses
- WEAKNESS 3. OPPURTUNITY
I assumed myself in a number of different types of works during my internship which are listed below. I was taught about different types of features that are very necessary while opening accounts, such as customer's photograph, customer's signature, national ID card or passport, nominee's information, nominee's photograph, etc. I also learned about different types of requirements that vary based on the type of customers such as
This internship has developed my skills in the application of theory to practical work situations, to deal with new environments and to understand interpersonal relationships. The detailed examination of an organization's coverage and expected perception of its strength, flaws, chances and risks is called SWOT analysis. It is necessary to make the current way of performance and also predict the prospects of developing their performance compared to opponents.
It also plays an important role in making amendment in the planned administration of the organization. The SWOT analysis consists of the organization's internal strengths and weaknesses and external opportunities and threats. SWOT analysis gives an organization an insight of what they can do in the future and how they can compete with their existing competitors playing in the same field and is also used in the strategic analysis of the organization.
Now that many employers have withdrawn from the bank, there is a personnel crisis at the bank.
Chapter Five
SUMMARY OF FINDINGS
Recommendations
Sonali Bank management should introduce more customer oriented services offered by private banks such as ATMs, online banking facilities etc. Sonali Bank should come up with a standard and flexible career vesting policy for staff and employees. All branches should build such a collaborative environment so that they can exchange their work files and documents etc.
The bank needs to upgrade its IT facilities and this requires more digitization.
Conclusion
