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Internship Report Askari Commercial Bank

EXECUTIVE SUMMARY:
The Department of Management Sciences was established in 2001 and offers
Bachelors and Masters degree in Business Administration. They are giving the best
education and are offering for specialization, financial management, marketing,
human resource management and computer application to business. An important
programmed is six to eight weeks internship with any recognized organization.

I decided to take up Askari Commercial Bank Limited for my internship because its
competing bank nowadays and gives a good training to the internees. So in order to
learn more this was my choice.

This report is about my internship that I have undergone at Askari Commercial Bank
Limited Multan Branch from 15th July 2006 to 26 August 2006.. During my internship
I am able to learn practical aspect of business, and get good working experience.

On the very first day of my internship I reported to Human Resource Manager /


Operation Manager Mr. Shoukat Hayat Babar. He gave me small introduction of the
bank and introduced me to the staff of the bank. Every internee is rotated among the
bank’s departments and so was I. This rotation is done in order to have general
concept regarding bank’s functions, operations and policies. In this rotation the stay
in department is usually a week. I have learned more about the Bills and Foreign
Trade department and have given below the caption of activities I was involved in
during the period of six weeks.

During my internship I found that Askari Commercial Bank is a best bank in Multan
because most of the Exports and Imports in Multan are done through this bank.
Multan is one of the cotton growing cities of Pakistan. Most of the businesses in
Multan are directly or indirectly linked to cotton that is also the case with Askari
Commercial Bank’s clients. Because Multan is a Agricultural City, and its major
export is Cotton and Mango. So its export is done on seasonal basis. In the season
of cotton and Mango export Askari Commercial Bank get its target easily but difficult

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Internship Report Askari Commercial Bank

for it to get its target in the off season. Same with the case of imports, in Multan
major imports is Oil Seeds, which is also done on seasonal Basis.

Low profit rates are one of the major reasons for not meeting the deposit targets.
The profit rates on Askari deposit schemes are quite low when compared with other
banks especially with the National Saving Centers. In today’s every customers is the
rational customer he knows the value of money and wants a best return on his
money.

Earlier Askari Commercial were able to attract customer due to their anxillury
services like ATM Cards, Credit Cards, Online Banking etc. but now all the banks are
offering these services through their own network or through third party contracting,
so our plus points are no more our advantages. So the only thing through which
ACBL can increase their deposits are profit rates, because the customers only want
maximum profit on their investment.

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Internship Report Askari Commercial Bank

INTRODUCTION

Definition of Bank
There are large number of definitions which are offered by the different authors
keeping view the various definitions we may define the bank in the following words.

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Internship Report Askari Commercial Bank

“A Bank is reliable financial institution which receives the money from one group of
people and lends to other group of people”. So bank performs the duty of financial
intermediary among the people and creates the credit money.

Bank Origin
There are different views about origin of the world “Bank”. According to some people
the word “Bank” is derived from the world “Bancus” which means a “Bench”. They
argue their point by this transacted their business of money exchange on the
benches. If the business of any businessman failed, his bench was destroyed by the
people. Due to this practice the word “Bankrupt” was also used.
On the other hand some people say that the world “Bank” is derived from German
time the word “Bank” was replaced by the word “Bank” which is called “Banco” in
Italian language.

Evolution of Banking
The history of banking evolution is very interesting. In the early ages human like and
wealth was not secure. Due to fear of loot-mar and theft people buried their wealth
under land but this method was not satisfied. People started to search the
custodians of wealth. The evolution of banking started and it has crossed the
following stages.

First Stage of Evolution


After a great struggle people succeeded in finding the reliable persons to deposit
their money and valuable goods for safety. These people were goldsmiths. These
were considered the most trusted persons due to their sounds financial position. On
the other hand they had a very strong iron safes for keeping gold, money and other
valuable items. People started depositing their gold and cash in the safe of
goldsmiths. Goldsmiths charged something for this purpose and they returned the
depositors their money whenever they needed banking evolution and goldsmith were
the early bankers.

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Internship Report Askari Commercial Bank

Second Stage Of Evolution


During this period those receipts which were issued by the goldsmiths against the
valuables goods were being used as a medium of exchange by the merchants.
People purchased the various things from the traders against their receipts against
the payments. So the receipts were used like the bank cheque of the modern age.

Third stage of Evolution


This period started at that time when goldsmiths came to know by the experience
that people are using their receipts as medium exchange and very few people
demand their deposits. So they reach to the conclusion that they may lend some
portion of their total deposits to some other people and they can earn profit.
Goldsmith started the business of lending. They also started paying interest to attract
the depositors of net cash. Now this business became very profitable, so the traders
and money lenders also jumped in this field.

Fourth Stage of Evolution


It was started at that time when people were tempted to deposit more and more cash
to the traders, money lenders and goldsmiths to earn maximum interest. On other
hand number of borrowers also increased borrowing the money. So for the borrowing
and lending business regular institutions came in to being.
In the present age bank is modernized shape of those institutions. But to earn more
profit every bank started issuing overdraft facility without maintaining adequate cash
reserves to meet the demands of the depositors. This inability created the financial
crises. Now to maintain the good will of the banks perform their duties. All the
commercial banks perform their duties keeping in view the instructions of the Central
Bank.
Keeping in view the above discussion about the evolution of bank we can say that it
is the result of the different activity of goldsmiths, merchants and money lenders.
They are the real founders of modern banking business. All the basic functions of
modern bank like accepting are similar with the founders. Now with the changing
business requirements the secondary functions of banks have been changing with
the passage of time.

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Internship Report Askari Commercial Bank

Growth of Banking in Pakistan


The entire banking business was controlled by the non-Muslims before the partition
of the sub-continent. When Hindu’s became sure about the divisions of the sub
continent, they secretly began to transfer their capital to the safe places in India. The
funds and other valuables were transferred to India.

Time of Independence
Hindus migration from Pakistan to India also caused drain on the bank deposits. In
order to run the economy of Pakistan. Hindu’s closed down most of the head offices
and branches of the scheduled and non scheduled banks in Pakistan.
At the time of independence there were only two Pakistani banks, that is Habib Bank
and Australasia Bank. At the time, Pakistan had 631 branches of scheduled banks
and 411 of no-scheduled banks. The total deposits of Pakistan banks were Rs. 800
million and advances were 198 million, the non-scheduled banks number reduced
from 411 to 106 over the same period.
The mass scale withdrawal of deposits closure of branches and migration caused a
deadlock in the banking business in Pakistan.
Keeping in view the above situation government of Pakistan took various steps to
provide all kinds of facilities to the non-Muslim bankers for restoring normal banking
facilities but response was not encouraging.

Establishment of State Bank


After independence it was not possible Sc-r Pakistan to set up the Central Bank
immediately. The Reserve Bank of India acted as a Central Bank of Pakistan till 30th
September 1948. But it could not protect the interests of Pakistan.
To remove the financial difficulties and to establish sound banking system Govt.
established the State Bank on 1st July 1948. In the development, to banking system
it played very important role as a Central bank of the country.

Banking sector in Pakistan


No economy can grow and improve the living standards of its population in the

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Internship Report Askari Commercial Bank

absence of a well functioning and efficient financial sector. Banks in Pakistan


account for 95 percent of the financial sector and hence good health of banks is
directly related to economic growth and development of Pakistan. What was wrong
with the Pakistani banking system that such massive reforms had to be undertaken?
Banks in Pakistan have been catering basically to the needs of the Government
organizations, subsidizing the fiscal deficit, serving a few large corporations and
engaging in trade financing. There was no lending to small and medium enterprises,
to the housing sector or to the agricultural sector, which create most of the growth
and employment in Pakistan. Most important, the financial system suffered from
political interference in lending decisions and also in the appointment of managers.
The middle class which is the backbone of any Reproduced from Blue Chip – The
Business People’s Magazine - January 2005 economy was not given due attention
by the banking sector. There were legitimate reasons for such an errant behavior.
First, the government’s fiscal deficit was so high that most of the deposits the banks
used to get, were loaned to the government and government corporations. This was
safe lending which fetched good returns and the banks made good profit out of it.
Naturally, there was little incentive for them to do anything else except lend to the
Government which was both risk free and highly remunerative. Secondly, the
government owned most of the banks. In the government banks the staff worked like
typical government employees, coming to office at 9:00 a.m., checking files; having
nothing important to do and leaving at 5.00 p.m. without doing much work. These
banks suffered from a high bureaucratic approach, overstaffing, unprofitable
branches and poor customer service. Administrative costs were high reducing profits
of depositors. Thirdly, recovery rate was so low that almost 25% of the loans were
stuck up as a large number of loans to the private sector borrowers were not given
on the merit of the proposal but on political considerations. These influential
borrowers hardly repaid their loans. Fourth, banking industry faced a high tax rate of
58 percent while the rest of the corporate sector paid only 35 percent. This high
punitive rate along with the burden of stuck loans and inefficiency of the staff was
passed on to the customers in form of high lending rates and low deposit rates. The
banking industry was not attractive for new entrants who could foster competition
and improve efficiency. Because of these factors, i.e. high administrative costs,
burden of stuck-up loans and excessive tax rates, the average interest rate for
lending was about 21% per annum. The middle class borrowers could not afford to

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Internship Report Askari Commercial Bank

get credit on such high interest rates and pay it back. Banking sector reforms were
thus needed badly to address these and other constraints so that the banks could
play their due role in the economic development of the country. Although, there is no
room for complacency and a lot still needs to be done, even the worst critics of this
government do concede that if there is one sector which has undergone basic
transformation that is the banking sector. The IMF and the World Bank who are not
always very generous or effusive in their praise had this to say about the Banking
sector in Pakistan after completing a comprehensive and thorough review in early
2004. Quote: “far reaching reforms have resulted in a more efficient and competitive
financial system. In particular, the pre-dominantly state-owned banking system has
been transformed into one that is predominantly under the control of the private
sector. The legislative framework and the State Bank of Pakistan’s supervisory
capacity have been improved substantially. As a result, the financial sector is
sounder and exhibits an increased resilience to shocks”

Privatization of NCBs
All the nationalized commercial banks, except one, have been privatized. As a
consequence their domination of the banking sector has been reduced from almost
100 percent in 1991 to about 20 percent by June 2004. Even in the case of National
Bank of Pakistan 23.5 percent shares have been floated through Stock Market
mainly aimed at small retail investors.
Corporate Governance
Strong corporate governance is absolutely essential if the banks have to operate in a
transparent manner and protect the depositors’ interests. The SBP has taken several
measures in the last four years to put in place and enforce good governance
practices to improve internal controls and bring about a change in the organizational
culture.

Capital Strengthening
Capital requirements of the banking sector have to be adequate to ensure a strong
base, ability to compete and withstand unanticipated shocks. The minimum paid- up
capital requirements of the banks have been raised from Rs 500 million to Rs 1
billion and have again been raised to Rs. 2 billion (by December 31, 2005). This has

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Internship Report Askari Commercial Bank

already resulted in mergers and consolidation of many financial institutions and


weeding out of several weaker banks from the financial system.

Improving Asset Quality


The stock of gross non-performing loans (NPLs) that amounted to Rs 252 billion and
accounted for 22 percent of the advances of the banking system and DFIs has been
reduced to Rs. 225 billion i.e. 14 percent of advances. More than two-thirds of these
loans are fully provided for and net NPLs to net advances ratio has come down to as
low as 5 percent for the commercial banks. The positive development is that the
quality of new loans disbursed since 1997 has improved and recovery rate is 95
percent.

Liberalization of Foreign Exchange Regime


Pakistan has further liberalized its foreign exchange regime and set up foreign
exchange companies to meet the demands of Pakistani citizens. Pakistani Corporate
sector companies have also been allowed to acquire equity abroad. Foreign
registered investors can bring in and take back their capital, profits, dividends,
remittances, royalties, etc. freely without any restrictions.

Consumer Financing
By removing restrictions imposed on nationalized commercial banks for consumer
financing, the State Bank of Pakistan has given a big boost to consumer financing.
Middle class employees can now afford to purchase cars, TVs, air- conditioners,
VCRs, etc. on installment basis. This, in turn, has given a large stimulus to the
domestic manufacturing of these products.

Mortgage Financing
A number of incentives have been provided to encourage mortgage financing by the
banks. The upper limit has been raised from Rs 5 million to Rs 10 million. Tax
deduction on interest payments on mortgage have been allowed up to a ceiling of
Rs.1 million. The new recovery law is aimed at expediting repossession of property

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Internship Report Askari Commercial Bank

by the banks. The banks have been allowed to raise long term funds through rated
and listed debt instruments like TFCs to match their long term mortgage assets with
their liabilities.

Legal Reforms
Legal difficulties and time delays in recovery of defaulted loans have been removed
through a new ordinance i.e. The Financial Institutions (Recovery of Finances)
Ordinance, 2001. The new recovery laws ensures the right of foreclosure and sale of
mortgaged property with or without intervention of court and automatic transfer of
case to execution proceeding. A Banking Laws Reforms Commission is reviewing,
revising and consolidating the banking laws and drafting new laws such as
bankruptcy law.

Prudential Regulations
The prudential regulations in force were mainly aimed at corporate and business
financing. The SBP in consultation with the Pakistan Banking Association and other
stakeholders has developed a new set of regulations which cater to the specific
separate needs of corporate, consumer and SME financing. The new prudential
regulations will enable the banks to expand their scope of lending and customer out
reach.

Micro Financing
To provide widespread access to small borrowers particularly in the rural areas the
licensing and regulatory environment for Micro Credit and Rural financial institutions
have been relaxed and unlike the commercial banks these can be set up at district,
provincial and national levels with varying capital requirements. There is less
stringency and more facilitative thrust embedded in the prudential regulations
designed for this type of institutions. Khushali Bank and the First Microfinance Bank
in the private sector have already started working under this new regulatory
environment. Khushali Bank has already reached a customer base of 125,000
mainly in poorer districts of the country and its recovery rate is above 95 percent.

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Internship Report Askari Commercial Bank

SME Financing
The access of small and medium entrepreneurs to credit has been a major constraint
to expansion of their business and up gradation of their technology. A Small and
Medium Enterprise (SME) Bank has been established to provide leadership in
developing new products such as program loans, new credit appraisal and
documentation techniques, and nurturing new skills in SME lending which can then
be replicated and transferred to other banks in the country. Program lending is the
most appropriate method to assist the SME financing needs. The new prudential
regulations for SMEs do not require collateral but asset conversion cycle and cash
flow generation as the basis for loan approval. The State Bank is also contemplating
to develop capacity building among a select group of banks for SME lending. This
will revitalize the lending to SMEs particularly export oriented ones.

Taxation
The Government has already reduced the corporate tax rate on banks from 58
percent to 41 percent during the last four years and it is envisaged that the rate will
be reduced gradually and brought at par with the corporate tax rate of 35 percent in
the next two years. This will, in turn, help in reducing the spread between the deposit
rate and lending rate and benefit financial savers.

Agriculture Credit
A complete revamping of Agriculture Credit Scheme has been done recently with the
help of commercial banks. The scope of the Scheme which was limited to production
loans for inputs has been broadened to the whole value chain of agriculture sector.
The broadening of the scope as well the removal of other restrictions have enabled
the commercial banks to substantially increase their lending for agriculture by a
multiple of four times compared to FY 1999-00 thus mainstreaming agriculture
lending as part of their corporate business. Unlike the previous years when they
were prepared to pay penalties for under performance they have achieved
consistently rising higher targets every year. The private commercial banks have
also agreed to step in and increase their lending to agriculture.

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Internship Report Askari Commercial Bank

Islamic Banking
Pakistan has introduced Islamic banking system to operate in parallel with the
conventional banking providing a choice to the consumers. A large number of
Pakistanis have remained withdrawn from commercial banking because of their
strong belief against riba-based banking. These individuals and firms – mainly
middle and low class – will have the opportunity to invest in trade and businesses by
availing of loans from Islamic banks and thus expand economic activity and
employment. A full-fledged Islamic bank has already opened the doors for business
and several banks have branches exclusively dedicated to Islamic banking products
and services. The State Bank of Pakistan has set up a full-fledged Islamic Banking
Department and a Shariah Advisory Board to help it in the promotion of Islamic
banking in the country.

E-Banking
There is a big surge among the banks including NCBs to upgrade their technology
and on-line banking services. During the last three years there has been a large
expansion in the ATMs and at present about 700 ATMs are working throughout the
country. The decision mandating the banks to join one of either two ATM switches
available in the country has provided a further boost. Progress in creating automated
or on-line branches of banks has been quite significant so far and it is expected that
by 2005 almost all the bank branches will be on-line or automated. Utility bills
payment and remittances would be handled through ATMs, Kiosks or Personal
Computers reducing both time and cost.

Human Resources
The banks have recently embarked on merit-based recruitment to build up their
human resource base – an area which has been neglected so far. The private banks
have taken lead in this respect by holding competitive examinations, interviews and
selecting the most qualified candidates. The era of appointment on the basis of
sifarish and nepotism has almost come to an end as the private owners want to
attract and retain the best available talent which can maximize their profits. This new
generation of bankers will usher in a culture of professionalism and rigour in the

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Internship Report Askari Commercial Bank

banking industry and produce bankers of stature who will provide leadership in the
future.

Credit Rating
To facilitate the depositors to make informed judgments about placing their savings
with the banks, it has been made mandatory for all banks to get themselves
evaluated by credit rating agencies. These ratings are then disclosed to the general
public by the SBP and also disseminated to the Chambers of Commerce and Trade
bodies. Such public disclosure will allow the depositors to choose between various
banks. For example, those who wish to get higher return may opt for banks with B or
C rating. But those who want to play safe may decide to stick with only AAA or AA
rated banks.

CURRENT NATIONAL BANKING PORTFOLIO

Banks are very important institutions in a society. They play an important role in
carrying out economic transaction in a healthy commercial society. The economic
growth and activities depend on good banking services in a country. They help in
smooth flow of economic blood of a country.
The financial sector in Pakistan can be presented as:
 Banking Sector.
 Non-Banking Sector.

Banking Sector:
Banking sector comprises the following:
Public scheduled Banks
Private sector Banks
Foreign Banks.

Non-Banking Sector:
Non-banking sector comprises the following:

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Internship Report Askari Commercial Bank

Development finance institutions (DFIs)


Private sector banks
Investment banks.
Leasing companies.

The large public sector scheduled commercial banks, namely


National Bank of Pakistan.
Habib Bank Ltd.
United Bank Ltd.

These banks are dominant in term of number of branches but in term of profits these
banks are not as much profitable as are the private or the foreign banks.
The private sector banks are relatively new when compared to public sector banks.
These includes:

Askari Commercial Bank Ltd.


Bank Al-Habib Ltd.
Bank Al-Falah Ltd.
Soneri Bank.
Bolan Bank.
Union Bank.
Platinum Commercial Bank. Etc.

These banks have still very small network of branches and level of operation. They
focus on very selective market segment where they are quite successful. So for as
there profit proportion is concerned they are gaining handsome profits.
Owing to the inefficiencies of public sector scheduled banks and lower standing of
private sector banks and dollarization of the economy, foreign banks started
performing their operations in Pakistani market. There are about 20 foreign banks
operating in the country:The most important are

 ABN Amro Bank Ltd.


 American Express Bank Ltd.

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Internship Report Askari Commercial Bank

 Standard Chartered Bank


 Deutsche Bank AG
 Habib Bank AG Zurich
 Al-Baraka Islamic Investment Bank
 CITIBANK N.A. (KARACHI)
 RUPALI BANK LTD. (KARACHI)
 The Bank of Tokyo Mitsubishi Ltd.
 Hong Kong and Shanghai Bank
 Oman International Bank S.A.O.G.

Army Welfare Trust


Army welfare trust was established namely for the welfare of army officials. The
office of Army welfare trust is situated at AWT PLAZA Rawalpindi. AWT offers the
“AWT Saving Scheme” to the army officials only. AWT has further as units.
1. Askari Associates
2. Askari leasing
3. Askari general
4. Private businesses
5. Textile mill
6. Cement industry
7. Askari commercial bank

Askari associates deals with the share holding. Askari General Insurance Askari
Leasing are registered at stock exchanges. Cement industry, firstly produced
“Nizam Cement”.

ASKARI COMMERCIAL BANK LTD

Askari commercial bank limited was incorporated on October 09, 1991 as a public
limited company, and is listed on the Karachi, Lahore and Islamabad stock
exchanges. The bank obtained business commencement certificate on February 26,
1992 and started operations from April 01, 1992. Askari commercial bank is a

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Internship Report Askari Commercial Bank

scheduled commercial bank and is principally engaged in the business of banking as


defined in the banking companies ordinance, 1962.

Askari commercial bank limited continued to scale new heights in all areas of its
operations. The safety and security of depositor’s funds, high productivity, and
optimum use of technology are the hallmarks of its corpora to strength.
ACBL is the first and so far the only Pakistani bank in private sector to have been
rated as A1 + (for short term category) and A+ (for long term category) by PACRA
Pakistan credit rating agency (Pvt.) Ltd. The rating of A1+ is the highest in the short
tem category and stands for “obligations supported by the highest capacity for timely
repayment”.

In 1994 ACBL earned international recognition as Asia money award and the title of
“best commercial bank of Pakistan for the year 1994” while euro money declared the
bank as “best domestic bank of Pakistan for the year 1995”.

A financial institution has to given due emphasis to its network expansion


because with the passage of time the graph of growth through existing network
attains the point of saturation ACBL has its head office in Rawalpindi. In view of
deteriorating operating environment, bank slowed down the expansion plan and
added one branch in 1998 making the total number of branches 30. Now in 2006
there are 30 branches of ACBL in all over the Pakistan.

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Internship Report Askari Commercial Bank

Comparisons with other banks in the Industry

Year of Share No. of Total Total Net Profit


Earning per
Incorpor- Capital Branches Deposits Advances Rs.million
Banks share(Rs.)
ation (Rs.000’s) Rs.million Rs.million After tax

Bank Al-
Falah 1992 3000000 156 222345 118864 1702 5.75
Limited
Askari
Commerci 1991 1507018 100 118798 85977 2022 13.42
al Bank Ltd
Union
Bank Ltd 1991 812,151 40 91186.52 68969.40 715.21 6.21

THE MISSION

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Internship Report Askari Commercial Bank

As it is said that an organization’s culture, products, services, employees,


their attitude, philosophy, self-concept, markets and environment throws light on the
corporate mission, so one of the business executives at the bank, based on his
personal observation and judgment, carved the following mission of The Askari
Commercial Bank Limited as

“ To be the leading private sector bank in Pakistan with an international


presence, delivering quality service through innovative technology and
effective human resource management in a modern and progressive
organizational culture of meritocracy, maintaining high ethical and
professional standards, while providing enhanced value to all our
stakeholders, and contributing to society”.

Objectives & Core Values


The intrinsic values, which are corner stones of our corporate behavior, are:
 Commitment
 Integrity
 Fairness
 Team-work and
 Service

Inspiring Relationships

From knowing our customer requirements to understanding employee needs,


from utilizing modern technology to making responsible social contributions, from
enhancing stake-holders value to practicing corporate ethics…….We are
continuously and consistently striving to address newer challenges with a single
motivation:
“the power to inspire and be inspired”

Code of Business Principles

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Internship Report Askari Commercial Bank

Our Code of Business Principles is to:


 Deliver solutions that meet customers’ financial needs
 Build and sustain a high performance culture
 Build trusted relationships with all stakeholders
 Build and manage the Bank’s portfolio of businesses to achieve strong and
sustainable shareholder returns
 Create and leverage strategic assets and capabilities for competitive
advantage

Inspiring Relationships

Inspiring 250,000 relationships


Knowing our customers and their needs is key to our business success.
Our products and services are as diverse as our market segments. Our client
relationship managers are well equipped and well trained to provide the most
efficient and personalized service to the customers. We have structured and
syndicated financing arrangements, provided working capital and balancing-
modernization replacement (BMR) facilities, financed international trade, provided
small business loans, cash management services, and developed innovative
investment and loan products for the individual savers and households. Askari Bank
is proud of its pioneering role in providing the most modern and technologically
advanced services to its 250,000 relationships.

Inspiring employee relationships


We strongly believe that the interests of the bank and the employees
are inseparable. At Askari we try to create a ‘we’ culture where there is mutual trust
and respect for each other. We encourage ownership behavior so that everyone
feels responsible for the performance and reputation of the Bank. We are committed
to develop and enhance each employee’s skills and capabilities through extensive
in-house and external training programs and job rotations. The strong employee-

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Internship Report Askari Commercial Bank

bank relationship is evidenced by the fact that Askari has one of the lowest employee
turnovers. Most of the top management today has reached their present positions by
growing within the organization.

Inspiring technological innovation


Technology has played a pivotal role in meeting customer
expectations, particularly with respect to speed and quality of service. We have fully
automated transaction-processing systems for back-office support. Our branch
network is connected online real time and our customers have access to off site as
well as on site ATMs, all over Pakistan. Our Phone Banking Service and Internet
Banking Facility allows customers to enjoy routine banking services from anywhere
anytime in the world.

Inspiring ethical values


Integrity is the most valued standard in whatever we do. We understand that
our commitment to satisfy customers’ needs must be fulfilled within a professional
and ethical framework. We subscribe to a culture of high ethical standards, based on
the development of right attitudes.

Inspiring corporate citizenship


Inspiring corporate citizenship: We have made useful contributions in the
areas of sports, culture, poverty alleviation, health and medical sciences, education
and scientific research.

Inspiring growth
For us the challenge is to build a foundation of strong, consistent financial
performance and focus on growing our balance sheet and revenues at low risk.
During the year, we opened ten new fully automated branches, increasing our
branch network to 46. Central to our growth strategy is a focus on specialization and
transformation. We are reshaping our portfolio of businesses by investing in higher
growth areas, extending and developing our core competencies and moving out of
weak and non-core segments.

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Internship Report Askari Commercial Bank

Inspiring shareholder confidence


We believe that the bottom line of any business is creating shareholder
value. To gain their trust and confidence, we believe in providing our shareholders
timely, regular and reliable information on our activities, structure, financial situation
and performance. At the same time, we try to give them one of the best earnings per
share in the banking industry of the country.

VISION STATEMENT

“To be the Best Bank of First Choice in the Region”

CORPORATE INFORMATION

Board of Directors

Lt. Gen. Waseem Ahmad Ashraf Chairman


Chairman Executive
Lt. Gen. (R) Zarrar Azim
Committee
Mr. Kalim-ur-Rahman President & Chief Executive
Brig (R) Muhammad Shiraz Baig Director
Brig (R) Muhmmad Bashir Baz Director
Brig (R) Asmat Ullah Khan Niazi Director
Brig (R) Shaukat Mahmood Chaudhari Director
Mr. Kashif Mateen Ansari Director
MrZafar Alam Khan Sumbal Director
Mr. Muhmmad Afzal Munif,FCA Director
Mr Muhammad Afzal Munif ,FCA Director
Mr Tariq lqbal Khan,FCA Director (NIT Nominee)

Mr. Saleem Anwar, FCA secretary

Auditors
A. F. Ferguson & Co. Chartered Accountants
Legal Advisors
Rizvi, Isa, Afridi Angell
Registrar & Share Transfer Office

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Internship Report Askari Commercial Bank

M/s THK Associates (Private) Limited


Ground Floor, Modern Motors House,
.Beaumont Road, Karachi, 75530
P.O. Box No. 8533, Karachi
Tel: (92 21) 5689021, 5686658, 5685681
Fax: (92 21) 5655595
Registered Office/Head Office
AWT Plaza, The Mall,
P.O. Box No. 1084,
Rawalpindi - Pakistan.
Tel: (051) 9272150-53
Fax: (051) 9272455
Web Site: www.askaribank.com.pk

Organizational Chart

Executive Internal
Committee
Audit

President &
Chief

Corp. Operating & Regions Retail Credit


Credit Banking Cards
Banking &

Rawalpin
International Credit Asset Planning &
di/ Corp. Affairs
Products
22
Internship Report Askari Commercial Bank

Electronic North Investme Human


Treasury
Technology
nt Resource

Corporate & System & Lahore


Finance
Merchant Operations

Data East

Reporting

South I
Legal Affairs

South II

West

COMPANY MARKETING MIX

The concept of marketing mix is very important in the business literature.


Marketing mix is a combination of a number of marketing elements according to a
market situation. If a business enterprise rationally blends the elements of marketing
into a program of mix, then it competes, stays and earns profit in the market. In case,
the integration of the various elements of marketing is defective, the firm cannot fight
out its rivals in the market and ultimately suffers losses.

Marketing mix is defined as

23
Internship Report Askari Commercial Bank

“The set of controllable tactical marketing tools that the firm blends to
produce in response to wants in the target market.”‘
The various elements of marketing mix are as follows;

 Products
 Promotion
 Price
 Place

Marketers use numerous tools to elicit desired responses from their target
market. These tools constitute a market mix.
“Marketing mix is a set of marketing tools that the firms use to pursue its
marketing objectives in the target market.”

Four P’s Four C’s


Product Customer needs and wants

Price Cost to the customers

Place Convenience

Promotion Communication

Now let us discuss the marketing mix of ASKARI COMMERCIAL BANK


LIMITED.

While successfully penetrating the key domestic markets through strategic


expansion and business diversification, we remain alive to the challenges emanating
from the developments in the global financial markets; the opportunities and threats
engendered by greater deregulation, and increased customer expectations. These
provide us the impetus to make the best use of available resources, including
modern technology, to meet the challenges ahead.

24
Internship Report Askari Commercial Bank

Historically, Askari’s core marketing focus for its asset base has been the
middle and upper middle business houses (including wholesales and manufacturers)
operating in the large urban centers of Pakistan, which are primarily oriented
towards foreign trade. This segment contributes significant revenues to the Bank.
The liability side remains focused on the middle and upper middle class, retired and
serving government and armed forces personnel, and mid size business houses.

Benefiting from the bank’s growing balance sheet size, this division is now
gaining momentum and our long term aim is to develop it into an independent
strategic business unit (SBU). This would enable the bank to acquire, develop and
retain specialized abilities, and enhance our focus on serving the emerging needs of
the corporate clients.

With the branch network of 46 and further expected increase of 18 during


2003, the ATM’s facility and Internet Banking. Askari bank’s reach is ever increasing.
In recognition of this reach, we set up Retail Banking Group in July 2000, dedicated
to serving the urban consumer market. Askari is committed to aggressively market
this segment. The strategy is to provide our customers with a banker of innovative
products to meet their varying needs.

In view of the fast changing market conditions and the narrowing of traditional
lucrative margins on loans, Askari bank now commits itself to seek out new
opportunities and make its existing operations more efficient. This is evident from
revamping of the Treasury that is being geared to provide innovative products and
efficient services to our clients. In the process, we hope to improve overall margins
on the surplus liquidity available with the Treasury.

Despite the falling interest rates, which compelled people to divert their
investments to the share market and property, our deposits increased from PKR 41
billion in 2001. Our operating Profit (before provisions) for the year, stood at PKR
1,595 million as at December 31, 2002, while the figure for last year was PKR 1,291
million. Although the interest margins were greatly squeezed during the year 2002,
especially in the second half, we succeeded in compensating for the reduced
margins by a substantial increase in volumes.

25
Internship Report Askari Commercial Bank

The Board and Management is steering towards contemporary management


design. This is evident from the conception of the new division for “Planning and
Corporate Affairs”. The division was set up to play a proactive role in pursuing
corporate and organizational development, giving strategic direction to the bank and
looking out for new growth avenues. Askari is one of the first Pakistani banks to
develop such a dedicated function with a high focus on the future.

During the first quarter of 2003, the bank plans to operationalize an Offshore
Banking Unit (OBU) in Bahrain.

In the near future, Askari bank also plans to launch some new consumer
products, developed and designed by its Retail Banking Group. This will include
debit cards, prepaid cards and electronic billing systems. The bank plans to enhance
its ATMs and Internet banking services with new features like inter branch funds
transfer, and the payment of utility bills.

We plan to setup a Call Center and Date Warehouse to enhance the


timeliness and quality of our services. Enhancements are also planned for the
banking software so that functions like Trade Finance, SWIFT messages, and credit
approvals can be integrated into the core banking system. The bank is also in the
process of obtaining a new IT system for its Treasury.

Realizing that “Assets make things possible, people make things happen”.
Askari plans to reemphasize its focus on its human resource. The bank will try to
build the organization from within, giving special emphasis on the quality of its
human resource.

Our emphasis on technology is evident from the products that we are


developing. We understand and are committed to enhancing our technology not just
to keep abreast with the modern developments but also to retain our position as
leaders in this field

Our motivation is driven by one single factor “Providing customer satisfaction”.

26
Internship Report Askari Commercial Bank

PRODUCTS

Askari Bank presents you an entire range of products... whether you are
looking for high returns on your deposits, lockers for your valuables, liquidity for your
business needs, loans to meet an emergency cash need, or financing for the
purchase of an automobile, we have the solutions to your questions.

Policies Regarding Product

 Intangibility, inseparability and high perish ability are a significant product


planning challenge in service marketing. So to overcome these challenges
the service industry has to adopt various strategies. We would discuss
these strategies in context of ACBL.
 ACBL emphasis is on the benefit the service offers rather than on the
service itself. For example the “e-statement” service emphasis is on the
customer’s convenience, easiness and advantage than on the service
itself.
 For product promotion the use of visualization technique, association,
physical presentation and documentation are used. On every brochure of
ACBL product one sees an image. For example the “High Yield” saving
account brochure shows an image of wheat plant. What does it reflects or
communicates with the customer? It instantly gives the idea that
something very rewarding, giving higher returns, a worthy investment etc.
so the customer mind instantly visualizes, associates the service with
something physical.
 In relation to product feature the bank’s emphasis is on building up an
effective brand image. In includes the whole theme more than just the
brand name. Uses of distinctive color schemes, tangible objects, slogans
etc are being used.

27
Internship Report Askari Commercial Bank

 Due to intangibility of products and in the absence of physical features the


bank has to emphasize on differentiation of their offering.

Askari Bank’s Personal Finance

One can avail unlimited opportunities through Askari Bank’s Personal


Finance. With unmatched financing features in terms of loan amount, payback
period and most affordable monthly installments, Askari Bank’s Personal Finance
makes sure that you get the most out of your loan. No matter what your need is,
Askari bank has more ways to serve you then ever before.

Features:

 Loan amount from Rs.50,000 to 500,000


 Repayment period from 1 to 5 years
 Fixed monthly repayment
 Low rates that never change
 No pre-payment penalties
 Shortest processing time
 Funds may be obtained at any ACBL branch
 And certainly unmatched service quality

When you are working towards your financial goals, how you borrow can be
just as important as how you invest. The right borrowing options can improve your
savings, your cash flow and your ability to take advantage of personal or business
opportunities.

Eligibility to Apply:
Your age is between 21 and 57*
You have a verifiable minimum gross monthly income of Rs. 15,000.

Salaried:

28
Internship Report Askari Commercial Bank

Minimum length of confirmed service with present employer is at least six


months with a total length of at least one year service.

Askari Car Financing


Askari Commercial Bank Limited offers the most convenient and
affordable vehicle-financing scheme, which provides our valuable customers an
opportunity to own a brand new vehicle of their choice. Askar's "No eligibility" clause
automatically qualifies a person to own a latest car of their choice. With minimum
down payment, lowest insurance rates and widest range of available car makes and
models, Askar offers the best value to you.

ASKARI BANK'S Cash Management Services

 "Askari Cash Management Services" aimed at effectively managing the


accounts receivable portfolio of medium and large corporate entities. While
this service will help the corporate entities improve their liquidity, due to
our well-diversified branch network.
 The service primarily aims at providing clearing, collection and
cash/transfer facility to corporations, under one resource center, which will
handle the process through the branches and provide adequate reporting
to the corporate clients, on various aspects of their accounts receivable
portfolio, every month.
 As the product can be tailor made for National and Multinational
companies. The transaction process flows, operational methodologies and
service pricing varies from customer to customer, with marginal
modifications, depending upon volumes and nature of transactions
involved.

Askari Bank's Value Plus

Askari Bank leads the way, yet again ...... with the introduction of Askari bank's
Value Plus, rupee deposit account, which promises greater financial freedom and
security, in an unmatched way. Invest as little as Rs.10,000/- in a value plus savings

29
Internship Report Askari Commercial Bank

deposit and you are entitled to earn monthly returns, while still enjoying the flexibility of
a normal checking account.

Advantages:

 Partial liquidity offer on all time deposits


 Monthly return
 24hours world-wide protection plan
 ASKCARD (Debit Card) &
 Our unmatched service quality

Partial Liquidity Offer:


Offering you a truly exciting opportunity to make your investments break new grounds
for you. All you have to do is to invest a minimum deposit of Rs.25,000/-, in a value plus
time deposit for a choice tenure i.e. 3 months,6 months or 1 year.

The investment will be held in blocks of Rs. 25,000/each. In case you wish to
partially withdraw some amount from your total investment, you have the flexibility of
encashing the blocks that you want, without touching the remaining investment. The un-
encashed blocks will continue at the same maturity and return.....and yet you don't lose
the share of profit on the encashed blocks.Upon maturity you have the freedom of either
booking your time deposit for tenure of your choice, or let the bank roll it over
automatically for a like period.

24 hours worldwide protection:

A unique partnership between Askari Bank and New Hampshire Insurance


Company (American International Group, Pakistan) brings global accidental protection
for your entire family.

At home or at work, your Askari Bank's Value Plus account is there to take care
of you ...round the clock ...providing insurance cover of up to 4 times* the average

30
Internship Report Askari Commercial Bank

balance in your account .This is a choice enrolment plan with an automatic monthly
premium deduction facility at a price so low ... you can't even imagine i.e. only Rs. 20/-
per month.....

.....that's what we call relationship banking!

The privilege card:

A truly relationship card that identifies and recognizes your status. Besides
serving to identify you, this card provides with instant cash access at more than 40
ATMs around Pakistan..... But that's not what it's all about!Visit our authorized
merchants today and get a special discounì¥Á31q` 3131
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64
Internship Report Askari Commercial Bank

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65
Internship Report Askari Commercial Bank

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Address : Adyala Road, Rawalpindi66: 66: 66Ǚ666666666666: 66: 66Ǚ6666666666

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PABX No: (051) 5948081-4

67
Internship Report Askari Commercial Bank

Fax No: (051) 5948085 Tlx:------


Direct: (051) 5948088, (051) 5948087
E-Mail: b0078@askaribank.com.pk

North Area
14. Chashma Branch Branch Code : 0097
Address : Plot No.1, Bank Square, Chashma Barrage Colony, Opposite PAEC Chashma
Hospital,
Main D.I.Khan Road, Distt. Mianwali.
PABX No:-----------------
Fax No: (0459) 242761 Tlx:-------
Direct: (0459) 241544, (0459) 241667
E-Mail: b0097@askaribank.com.pk

15. Abbottabad Branch Branch Code : 0024


Address : Lala Rukh Plaza, Mansehra Road, Abbottabad.
PABX No: (0992)332182-3
Fax No: (0992)332184 Tlx:------
Direct: (0992)332157, (0992)332158

E-Mail: b0024@askaribank.com.pk

16. Chakwal Branch Branch Code : 0079

Address : Talagang Road, Chakwal

PABX No: (0543) 553142-3

Fax No: (0543) 601979 Tlx:----------

Direct: (0543) 551255,

E-Mail: b0079@askaribank.com.pk
17. Dera Ismail Khan Branch Branch Code : 0069
Address : Kaif Gulbahar Building, A.Q.Khan Chowk, Circular Road, D.I.Khan

PABX No: (0966)720180-82

Fax No: (0966)720184 Tlx:--------


Direct: (0966)720178, (0966) 720179
E-Mail: b0069@askaribank.com.pk
18. Jhelum Branch Branch Code : 0070
Address : Plot No. 225 & 226, Kohinoor Plaza, Old G.T Road, Jhelum Cantt-49600
PABX No: (0544)720053-55
Fax No: (0544)720060 Tlx:-------

Direct: (0544)720051, (0544) 720052

68
Internship Report Askari Commercial Bank

E-Mail: b0070@askaribank.com.pk

19. Mardan Branch Branch Code : 0007


Address : The Mall, Mardan. P.O.Box 197
PABX No: (0937) 9230501-2
Fax No: (0937) 9230503 Tlx:--------

Direct: (0937) 9230500,

E-Mail: b0007@askaribank.com.pk

20. Mirpur (Azad Kashmir) Branch Code : 0005


Address : Nathia Building Chowk Shaheedan, Mirpur

PABX No: (05-8610)45451-52


Fax No: (05-8610) 35429 Tlx:--------

Direct: (05-8610) 45450, (05-8610) 35247

E-Mail: b0005@askaribank.com
21. Nowshera Branch Branch Code : 0084
Address : Taj Building, Main GT Road, Nowshera
PABX No: (0923) 9220300-301
Fax No: (0923) 9220304 Tlx:--------
Direct: (0923) 9220302, 610530, (0923) 9220303
E-Mail: b0084@askaribank.com.pk
22. Cantt Branch Branch Code : 0004
Address : 3-7, Fakhr-e-Alam Road, Peshawar, P.O.Box 606
PABX No: (091) 9212433-6
Fax No: (091) 276391 Tlx: 52314 ACBL PK
Direct: (091) 5273829, (091) 5279683
E-Mail: b0004@askaribank.com.pk
23. City Branch Branch Code : 0014
Address : Bank Square Chowk Yadgar, Peshawar
PABX No: (091) 2561246-7
Fax No: (091) 2561245 Tlx: 53423 ACBL PK
Direct: (091) 2560156, (091) 2567315
E-Mail: b0014@askaribank.com.pk
24. Mingora Branch Branch Code : 0061
Address : Opposite Park Hotel, Makaan Bagh, Saidu Sharif Road, Mingora, Swat
PABX No: (0946) 713358-9
Fax No: (0946) 713361 Tlx:--------

69
Internship Report Askari Commercial Bank

Direct: (0946) 713356


E-Mail: b0061@askaribank.com.pk
Lahore Region
25. Aiwan -e-Tijarat Branch Branch Code : 0006
Address : 7-A, Shahrah-e-Aiwan-e-Tijarat, Lahore. P.O. Box 1624
PABX No: (042) 9203673-77
Fax No: (042) 9203351 Tlx:--------------
Direct: (042) 9203081, (042) 9203633
E-Mail: b0006@askaribank.com.pk
26. Tufail Road Branch Branch Code : 0011
Address : 12-Tufail Road, Lahore Cantt.
PABX No: (042) 9220940-45
Fax No: (042) 9220947 Tlx: 47746 ASKCT PK
Direct: (042) 9220931, (042) 9220932
E-Mail: b0011@askaribank.com.pk
27. Circular Road Branch Branch Code : 0017
Address : 77-Circular Road, Lahore
PABX No: (042) 7635920-22
Fax No: (042) 7635919 Tlx: 44254 ACBCR PK
Direct: (042) 7633694, (042) 7633702
E-Mail: b0017@askaribank.com.pk
28. Gulberg Branch Branch Code : 0021
Address : 10-E/11, Main Boulevard, Gulberg-III, Lahore.
PABX No: (042) 5764842-4, 5878431-2, 5877297
Fax No: (042) 5760958 Tlx:--------
Direct: (042) 5760369, (042) 5760427
E-Mail: b0021@askaribank.com.pk
29. Badami Bagh Branch Branch Code : 0022
Address : 165-B, Badami Bagh, Lahore
PABX No: (042) 7727601-2
Fax No: (042) 7704775 Tlx:------
Direct: (042) 7725300, (042) 7721318
E-Mail: b0022@askaribank.com.pk
30. D.H.A. Branch Branch Code : 0027
Address : 324-Z, Defence Housing Authority, Lahore 54792
PABX No: (042) 5898891-5
Fax No: (042) 5732310 Tlx:--------
Direct: (042) 5726818, (042) 5896036
E-Mail: b0027@askaribank.com.pk
31. The Mall Branch Branch Code : 0045
Address : Bank Square, 47 The Mall, (Shahrah-e-Quaid-e-Azam), Lahore
PABX No: (042) 7211851-5

70
Internship Report Askari Commercial Bank

Fax No: (042) 7211865 Tlx:-------


Direct: (042) 7314196, (042) 7322351
E-Mail: b0045@askaribank.com.pk
32. Township Branch Branch Code : 0056
Address : 48/10, B-1, Akbar Chowk, Township, Lahore 54770
PABX No: (042) 5140520-22
Fax No: (042) 5124222c Tlx:-------
Direct: (042) 5151279, (042) 5120302
E-Mail: b0056@askaribank.com.pk
33. Baghbanpura Branch Branch Code : 0063
Address : 6/7, Shalimar Link Road, Baghbanpura, Lahore.
PABX No: (042) 6830361-63
Fax No: (042) 6830367 Tlx:------
Direct: (042) 6830360, "(042) 6830366"
E-Mail: b0063@askaribank.com.pk
34. D.H.A. Phase II Branch Branch Code : 0064
Address : Plot No. 53, Block CCA, Phase II C, DHA, Lahore Cantt.
PABX No: (042) 5746423
Fax No: (042) 5746421-22 Tlx:-----
Direct: (042) 5896615
E-Mail: b0064@askaribank.com.pk
35. Shahdara Branch Branch Code : 0066
Address : N-127R-70C, Opposite Rustom Sohrab Cycle Factory, Sheikhupura Road,
Shahdara, Lahore 54950
PABX No: (042) 7919302-05
Fax No: (042)7919306 Tlx:------
Direct: (042) 7919300, (042) 7919301
E-Mail: b0066@askaribank.com.pk
71: 71: 71Ǚ717171717136. Shah Alam Branch
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71
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Internship Report Askari Commercial Bank

696969696969696969696”969696969696üz9696969696üz9696›¥9696bjbjqPqP969696969696
Address : Airport Road, Gwadar, 9120096: 96: 96Ǚ969696969696: 96: 96Ǚ9696969696

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96
Internship Report Askari Commercial Bank

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PABX No: (0864) 211359-60
Fax No: (0864) 211358 Tlx:--------
Direct: (0864) 211357,
E-Mail: b0036@askaribank.com.pk
61. Ghotki Branch Branch Code : 0071
Address : Plot No. D-9, Deh Odher Wali, Qadirpur Road, Opposite Town Committee, Ghotki
PABX No: (0723) 600500
Fax No: (0723) 600526 Tlx:---------
Direct: (0723) 600707,
E-Mail: b0071@askaribank.com.pk
62. Saima Trade Tower Branch Branch Code : 0002
Address : I.I. Chundrigar Road, Karachi P.O.Box 1096
PABX No: (021) 2630731-3, 2624316, 2634610
Fax No: (021) 2631176 Tlx: 27499 ASKRI PK
Direct: (021) 2624714, (021) 2631178
E-Mail: b002@askaribank.com.pk

97
Internship Report Askari Commercial Bank

63. Clifton Branch Branch Code : 0015


Address : Marine Trade Center, Block-9, Clifton, Karachi. P.O.Box 13807
PABX No: (021) 5868551-4
Fax No: (021) 5868555 Tlx:----------
Direct: (021) 5862868, (021) 5868557
E-Mail: b0015@askaribank.com.pk
64. Sharah-e-Faisal Branch Branch Code : 0019
Address : 11-A, Shahrah-e-Faisal, Progressive Square, Block-6, P.E.C.H.S, "Karachi,
P.O.Box 12696
PABX No: (021) 4520026-9
Fax No: (021) 4520030 Tlx: 27041 ASKSF PK
Direct: (021) 4526641, (021) 4526640
E-Mail: b0019@askaribank.com.pk
65. Jodia Bazar Branch Branch Code : 0023
Address : Qazi Usman Road, Near Lal Masjid, Karachi, 6831
PABX No: (021) 2474851-5
Fax No: (021) 2474856 Tlx: 27597 ACBJB PK
Direct: (021) 2473498, (021) 2473439
E-Mail: b0023@askaribank.com.pk
66. Gulistan-e-Jauhar Branch Branch Code : 0032
Address : Asia Pacific Trade Center, Rashid Minhas Road, Karachi, 75290
PABX No: (021) 4632500-04
Fax No: (021) 4632505 Tlx:-------
Direct: (021) 4630166, (021) 4630167
E-Mail: b0032@askaribank.com.pk
67. D.H.A. Branch Branch Code : 0033
Address : Jami Commercial Street No.11, Khayaban-e-Itehad, D.H.A Phase-VII, Karachi
PABX No: (021) 5387490,5384902-4
Fax No:----------- Tlx:-------
Direct: (021) 5384905, (021) 5384902
E-Mail: b0033@askaribank.com.pk
68. Cloth Market Branch Branch Code : 0039
Address : Laxmidas Street, Karachi 74000
PABX No: (021) 2472611-5
Fax No: (021) 2472605 Tlx:-------
Direct: (021) 2472607, (021) 2472606
E-Mail: b0039@askaribank.com.pk
69. Bahadurabad Branch Branch Code : 0041
Address : Zeenat Terrace, Plot No. 265, Block No.3, Bahaduryar Jang Society, Bahadurabad,
Karachi
PABX No: (021) 9232565-8
Fax No: (021) 9232574 Tlx:-------
Direct: (021) 9232569,

98
Internship Report Askari Commercial Bank

E-Mail: b0041@askaribank.com.pk
70. Hydri Nazimabad Branch Branch Code : 0042
Address : Plot No. SF/14-18 Al Burhan Arcade, Block E, Barkat-e-Hydri
PABX No: (021) 6632904-6
Fax No: (021) 6632922 Tlx:-------
Direct: (021) 6632921,
E-Mail: b0042@askaribank.com.pk
71. Shaheed-e-Millat Branch Branch Code : 0046
Address : A/22, Block 7&8, Anum Pride K.C.H.S Commercial Area, Main Shaheed-e-Millat
Road, Karachi
PABX No: (021) 4392850
Fax No: (021) 4392875-76, 4392878-9 Tlx:-----
Direct: (021) 4392859, (021) 4392886
E-Mail: b0046@askaribank.com
72. Saddar Branch Branch Code : 0048
Address : Sindh Small Industries Building, Regal Chowk, Saddar, Karachi
PABX No: (021) 2762840-2
Fax No: (021) 2760992 Tlx:---------
Direct: (021) 2760506,
E-Mail: b0048@askaribank.com.pk
73. Napier Road Branch Branch Code : 0049
Address : Ishaq Chamber, North Napier Road, Karachi.
PABX No: (021) 2549581-3
Fax No: (021) 2549585 Tlx:---------
Direct: (021) 2549588, (021) 2549587
E-Mail: b0049@askaribank.com.pk
74. Badar Commercial Area Branch Branch Code : 0052
Address : 29-C, Badar Commercial Area, St.#1, Phase V, DHA Karachi 75500
PABX No: (021) 5344175-8
Fax No: (021) 5344174 Tlx:------
Direct: (021) 5344171, (021) 5344172
E-Mail: b0052@askaribank.com.pk
75. Gabol Town Branch Branch Code : 0053
Address : Plot No.1, Sector 12-B, North Karachi Industrial Area, Karachi 75850
PABX No: (021) 6950332
Fax No: (021) 6950333 Tlx:--------
Direct: (021) 6950331
E-Mail: b0053@askaribank.com.pk
76. S.I.T.E. Branch Branch Code : 0054
Address : B/17, Estate Avenue, S.I.T.E. Karachi, 75700
PABX No: (021) 2585913-17
Fax No: (021) 2585525 Tlx:-------

99
Internship Report Askari Commercial Bank

Direct: (021) 2585911, (021) 2585912


E-Mail: b0054@askaribank.com.pk
77. New Challi Branch Branch Code : 0057
Address : Abdullah Square Building, Shahrah-e-Liaqat, I Challi, Karachi 74000
PABX No: (021) 2471042-44
Fax No: (021) 2471023 Tlx:------
Direct: (021) 2471021, (021) 2471022
E-Mail: b0057@askaribank.com.pk
78. Korangi Branch Branch Code : 0060
Address : Plot No. ST 2/3, Sector 23, Main Korangi Road, Korangi Industrial Area, Karachi
PABX No: (021) 5115024-6
Fax No: (021) 5115027 Tlx:-------
Direct: (021) 5115020, (021) 5115019
E-Mail: b0060@askaribank.com.pk
79. Marriot Road Branch Branch Code : 0062
Address : walpindiwala Building, Marriot Road, Market Quarters, Karachi
PABX No: (021) 2418424-28
Fax No: (021) 2418429 Tlx:----------
Direct: (021) 2418412, (021) 2418421
E-Mail: b0062@askaribank.com.pk
80. M.A Jinnah Road Branch Code : 0077
Address : Survey No. 4, Sheet No. RB-7, Aram Bagh Quarters, M.A.Jinnah Road
PABX No: (021)2217531-34
Fax No: (021)2217494 Tlx:--------
Direct: (021)2217490,
E-Mail: b0077@askaribank.com.pk
81. Marston Road Branch Branch Code : 0085
Address : Shafiq Shopping Plaza, Marston Road, Karachi
PABX No: (021) 2745722-4
Fax No: (021) 2725644 Tlx:---------
Direct: (021) 2745772, (021) 2745773
E-Mail: b0085@askaribank.com.pk
82. Gulshan-e-Iqbal Branch Code : 0086
Address : University Road, Gulshan-e-Iqbal, Karachi
PABX No: (021) 9244365-69
Fax No: (021) 9244370 Tlx:------
Direct: (021) 9244361, (021) 9244362
E-Mail: b0086@askaribank.com.pk
83. Metroville Branch Branch Code : 0088
Address : G-50, Block-3, Metroville-1, Karachi
PABX No: (021) 6762532-5
Fax No: (021) 6762541 Tlx:-------
Direct: (021) 6762527, (021) 6762528

100
Internship Report Askari Commercial Bank

E-Mail: b0088@askaribank.com.pk
84. Federal 'B' Area Branch Code : 0094
Address : Plot No. ST-2/B, Block No. 14, Al-Siraj Square, Federal 'B' Area, Karachi
PABX No: (021) 6806091-92
Fax No: (021) 6806095 Tlx:-------
Direct: (021) 6806152, (021) 6806094
E-Mail: b0094@askaribank.com.pk
85. Atrium Mall Branch Branch Code : 0096
Address : 249-Staff Lines, Fatima Jinnah Road, Karachi
PABX No: (021) 5650953, 5651046, 5651048, 5651091
Fax No: (021) 5651207 Tlx:---------
Direct: (021) 5650940, (021) 5650939
E-Mail: b0096@askaribank.com.pk
86. Bohra Pir Branch Code : 0098
Address : Plot No. 22/1, Princess Street, Bohra Pir, Ranchore Line, Karachi
PABX No: (021) 2744768-69, 2744771, 2744776-77
Fax No: (021) 2744779 Tlx:------
Direct: (021) 2745961, (021) 2745962
E-Mail: b0098@askaribank.com.pk
87. Larkana Branch Code : 0082
Address : Bunder Road, Larkana
PABX No: (074) 4053823-24
Fax No: (074) 4045371 Tlx:---------
Direct: (074) 4045381, (074) 4045382
E-Mail: b0082@askaribank.com.pk
88. Sukkur Branch Branch Code : 0043
Address : Sarafa Bazaar, Sukkur
PABX No: (071) 5628267-8, 5628286
Fax No: (071) 5627219 Tlx:--------
Direct: (071) 5627218, (071) 5627212
E-Mail: b0043@askaribank.com.pk
South 2 Region
89. Hyderabad Branch Branch Code : 0016
Address : 332-333, Saddar Bazar, Hyderabad. P.O.Box 470
PABX No: (022) 2783616,2783618, 2784745
Fax No: (022) 2783617 Tlx: 22054 ACBL PK
Direct: (022) 2783615, (022) 2784760
E-Mail: b0016@askaribank.com.pk
90. Mirpur Khas Branch Branch Code : 0074
Address : C.S. 835, Ward B, M.A. Jinnah Road, Mirpurkhas
PABX No: (0233) 9290335
Fax No: (0233) 9290331 Tlx:---------
Direct: (0233) 9290333, (0233) 9290334
E-Mail: b0074@askaribank.com.pk

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91. Nawabshah Branch Branch Code : 0081


Address : Katchary Road, Nawabshah
PABX No: (0244) 9370460-64
Fax No: (0244) 9370467 Tlx:--------
Direct: (0244) 9370466, (0244) 9370465
E-Mail: b0081@askaribank.com.pk
West
92. Chaman Branch Code : 0020
Address : Trunch Road, Off Mall Road, Chamman
PABX No: (0826) 613330, 614447
Fax No: (0826) 613331 Tlx:---------
Direct: (0826) 613330,
E-Mail: b0020@askaribank.com.pk
93. M.A. Jinnah Road Branch Branch Code : 0003
Address : M.A.Jinnah Road, Quetta
PABX No: (081) 2843751-2843754
Fax No: (081) 2824602 Tlx:------
Direct: (081) 2836074,
E-Mail: b0003@askaribank.com.pk
94. Cantt Branch Branch Code : 0029
Address : Bolan Complex, Cantt Area, Quetta
PABX No: (081) 2882101-2
Fax No:----- Tlx:---------
Direct: ------------,------------
E-Mail: b0029@askaribank.com.pk
95. Hazar Ganji Branch Branch Code : 0059
Address : Fruit Market, Hazar Ganji, Quetta
PABX No: (081) 2460808
Fax No: (081) 2460807 Tlx:-------
Direct: (081) 2460806,
E-Mail: b0059@askaribank.com.pk
96. Masjid Road Branch Branch Code : 0076
Address : Cut Piece Gali No. 7, Cloth Market, Masjid Road, Quetta. P.O.Box 87300
PABX No: (081) 2824008-09
Fax No: (081) 2845227 Tlx:---------
Direct: (081) 2824004, 2001641, (081) 2001594, 2841007
E-Mail: b0076@askaribank.com.pk
97. Meezan Chowk Branch Branch Code : 0083
Address : Meezan Chowk, Liaqat Bazar, Quetta
PABX No: (081) 2668386-7
Fax No: (081) 2668389 Tlx:-------
Direct: (081) 2665985, (081) 2665996
E-Mail: b0083@askaribank.com.pk

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98. Satellite Town Branch Code : 0091


Address : Kasi Plaza, Sirki Road, Satellite Town, Quetta
PABX No: (081) 2451535-36
Fax No: (081) 2451538 Tlx:--------
Direct: (081) 2451530, (0333) 7804779
E-Mail: b0091@askaribank.com.pk
New Branch
99. Muzafarabad Branch Branch Code : 0099
Address : Main Secreteriat Road, Muzafarabad, Azad Kashmir
PABX No: (058810) 43387 & 43557
Fax No: (058810) 43454 Tlx:------
Direct: (058810) 43475, (058810) 43470
E-Mail: b0099@askaribank.com.pk

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PRICE
Pricing Policies

At Askari Commercial Bank Limited the pricing strategies applicable are:


 One price strategy
 Flexible price strategy
 For Priority Customers many of the charges are waived in order to
facilitate them and provide them with high-class services.
 The bank staff in higher posts is also in a position to waive some
charges in order to oblige their customers.

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 So the pricing strategies are adaptable and stern depending upon the
type of the customer.

The Bank offers deposits at competitive prices.

FINANCIAL ANALYSIS

The importance of financial statements lies in their utility to satisfy the


questions in the mind of different stakeholders. Different classes of people are
interested in the financial statements analysis with a view to assessing the economic
and financial position of any business or industrial concern in terms or profitability,
liquidity or solvency etc. for example, the commercial banks are mainly interested in
short term liquidity and profitability while prospective investors may be interested in
long terms profitability and solvency.

Financial statements, among other things, include balance sheet and income
statement. Balance sheet presents assets and liabilities of the business at a given
date. Beside, showing the ability or the business to servic3e the loans on the
strength of its financial structure and on the history of its profitability, it helps in
judging the impact of financial and fiscal support and in evolving secured basis for
extending such support. Likewise, apart from showing the progress and profitability
or a business, income statements disclose, how the business has been conducted
and determines factors behind a rise or decline in the net worth.

The purpose of analysis of financial statements is to examine past and current


financial data so that a company’s performance and financial position can be
evaluated and future risk and potentials can be estimated. The analysis can yield
valuable information about trends and relationship, the quality of a company’s
earning, and it financial strengths and weaknesses.

The analysis would answer questions like:


 Is the business expanding or contracting?
 Is it more profitable than last year or less profitable?

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 How efficiently is the capital employed in the business being utilized?


 Does the business have any financial problem?
 And much more
To evaluate financial statements, an analyst must:
 Be acquainted with business practices;
 Understand the business and accounting terminology; be aware of
accounting conventions and limitations of accounting;
 Be acquainted with the tools of analysis of FS

Balance Sheet of ACBL

BALANCE SHEET AS AT 31ST DECEMBER, 2004-2005


(Rupees in 000)
Rs Rs
2004 2005
ASSETS:
Cash and balances with treasury bank 8,762,866 11,766,925
Balances with other banks 4,847,899 5,550,148
Investments 17,239,156 25,708,194
Lending to financial institutions
Investments 2,324,839 10,172,242
Advances 69,838,392 85,976,895
Other assets 1,559,365 2,732,641
Operating fixed assets 2,595,023 3,192,862
Total Assets 107,167,540 145,099,907
LIABILITIES
Bills payable 1,227,093 1,315,680
Borrowing from financial institution 13,781,555 10,562,338
Deposits and other accounts 83,318,795 118,794,690
Liab.against assets subject to fin. lease 14,159 1,459
Other liabilities 1,282,980 2,271,393
Deferred tax liabilities
526,866 567,217
Sub-ordinated loans 1,000,000 2,999,700
Total Liabilities 101,151,448 136,512,477
Net assets 6,016,092 8,587,430
Represented by:

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Share capital 1,255,848 1,507,018


Reserves 4,317,301 5,862,074
Un-appropriate profits ----- -----
5,573,149 7,369,092
Surplus on revaluation of assets – net of
tax 442,943 1,218,338
6,016,092 8,587,430
Contingencies and commitments

Profit and Loss Account of ACBL

PROFIT AND LOSS ACCOUNT


FOR THE YEAR ENDED DEC. 31, 2004-2005
Figures in '000'
2004 2005
RS RS
Mark Up/Return/Interest Earned 4,487,206 8,780,698
Mark Up/Return/Interest Expensed 1,117,206 4,278,374
Net Mark Up/Interest Income 3,370,000 4,502,324
Provision against non-performing Loans & Advances 277,398 638,547
Value of investment 38,066 (36,555)
Bad debts written of directly 7 ----
315,471 601,992
Net Mark Up/Interest Income after provisions 3,054,529 3,900,332
Non-Mark Up/ Interest Income
Fee, Commission and Brokerage Income 708,377 838,561
Dividend Income 26,318 51,143
Income from dealings in foreign currencies 180,992 356,218
Other Income 177,648 206,819
Gain on sale of investment 540,193 99,825
Total Non-Mark Up/Interest Income 1,633,528 1,552,566
4,688,057 5,452,898
Non-Mark Up/Interest Expenses
Administrative Expenses 1,845,179 2,591,985
Other Provisions ----- -----
Other Charges 138 1,832

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Total Non-Mark Up/Interest Expenses 1,845,317 2,593,817


2,842,740 2,859,081
Profit Before Taxation 2,842,740 2,859,081
Taxation-current 876,089 828,774
-prior years --- (188,247
-deferred 43,611 196,558
919,700 837,085
Profit After Taxation 1,923,040 2,021,996
Un-appropriated Profit Brought forward --- ---
Profit available for appropriation 1,923,040 2,021,996
Appropriations: transfer to:
Statutory reserve 384,608 404,399
Capital reserves (reserves for issue of bonus shares) 251,170 497,315
Revenue reserves 1,036,092 894,229
Proposed cash dividend (Rs.1.5 per share; 2004: Rs.2 per
share) 251,170 226,053
1,923,040 2,021,996
Un-appropriated profit carried forward ----- ------
Basic / diluted earnings per share – (Rupees) 12.76 13.42

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ASKARI COMMERCIAL BANK LIMITED MULTAN

Askari Commercial Bank Limited Multan was inaugurated on December


28,1994.
It is located on Abdali Road Opposite to PIA Office. The location is connected
to all the main trade centers in Multan. It is a prosperous branch streaming
towards great achievements.
At the time of its establishment the factored who were considered are as
follows

 Multan is zone covering a large population.


 Multan City is linked to many big cities.
 Agro based area constituting growers and gainers
 Army Offices & Fort Colony
 Educational Institution

The total strength of staff in ACBL Multan is 70. They are dedicated their
work. The branch is progressing rapidly. Under the dynamic leadership of
Vice President Mr. Sajjad A Sjheikh and Operational Manager Mr. Shaukat
Hayyat Babar

Competitors of Askari Commercial Bank Multan

Here is the list of different national banks and private banks along with their
branches available in the Multan market.

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COMPETITORS OF ASKARI COMMERCIAL BANK


MULTAN BRANCH.

SR.NO. BANKS BRANCHES SR.NO. BANKS BRANCHES

1 Askari Commercial Bank 1 10 United Bank Ltd. 21


2 Bank Al-Habib Ltd. 3 11 Prime Bank Ltd. 1

3 Bank Al-Falah. 1 12 First Women Bank 1


4 M.C.B 22 13 Habib Bank Ltd. 28
5 National Bank of Pak. 22 14 Allied Bank Ltd. 17
6 EBI 1 15 Soneri Bank Ltd. 1

7 Bolan Bank Ltd. 1 16 Bank of Punjab. 10

8 Platinum Bank Ltd. 1 17 Metropolitan Bank. 1


9 Saudi –Pak Bank 1 18 Faisl bank 1

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Organizational Hierarchy

Branch
operation
Manager

Cash/Deposit Account Retail Accounts


Department opening Banking Department
Department Department

Customers Clearing Bills/ Agri. Credit


Services Department Remittance Department
Department Department

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Market Comparison
If we compare the ACBL products with all other banks available in
the market we can see that ACBL is providing some advance and quality
services to its customers. Most important thing in this comparison is related
with the deposits of the branch with other banks, in which we can see that the
deposits of ACBL are far better than the other banks.

Goals and Objective


Every Marketing Department has its goals and objectives and
according to their plans they set their goals and objectives. ACBL marketing
department has also some goals and objectives, which ultimately focus the
customer is, needs and wants satisfaction.

 Introduced new relationship


Deposit
TSD
Credit
Increase number of accounts
Identify target market

Identify prospective customers


 Introduced bank products in target market
On-line
ATM
Quality Service
 Activate dormant accounts

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DEPARTMENTS
The Askari Commercial bank has following department:

 Account Opening department


 Cash Department
 ATM Department
 Account Department
 Remittance Department
 Clearing Department
 Foreign Trade Department
 Credit Department
 Credit Card Department

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ACCOUNT OPENING DEPARTMENT

Borrowing funds from different sources has become an essential feature of


today's business enterprises. But in the case of a bank borrowing funds from
outside parties is all the more vital because the entire banking system is
based on it . The borrowed capital of a bank is much greater their own
capital. Banks borrowing is mostly in the form of deposits. These deposits
are lent out to different parties. Such deposit creation is done through opening
an account in the Bank.
In ACBL Multan Mr. Asaad Bhutta is operating the account opening
department along with performing some auxiliary functions of Check Book
Issuing.

TYPES OF ACCOUNTS
In ACBL, there are the following types of accounts:
 Current account.
 Saving Account.
 Askari Special Deposit Account.
 Term Deposit.
 Basic Banking Account
 Ever Green Account

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CURRENT ACCOUNT

In current account there is no interest on it. It is for only transaction purposes.


They are paid on demand. When a banker accepts a demand deposit, he
incurs the obligation of the paying all cheques drawn against him to the
extended of the balance in the account. As there is no profit paid on this
account it is also called chequing account because cheques can be drawn on
it. Current account is mostly opened for business.
Following is a brief description of the current account

DEPOSIT RATE OF MINIMUM PAYMENT PRODUCT


SCHEMES RETURN BALANCE OF RETURN BASE
PLS 2.50% UPTO--- 6- MINIMUM
SAVING 24,999 MONTHLY MONTHLY
DEPOSITS BALANCE
Rs.10,000

SAVING ACCOUNT
The purpose of this account is to induce the habit of saving individuals in the
neighborhood. The profit is on the basis of 8.5% per 6 month. The minimum
deposit for opening the account is Rs.100/-. Though individuals open such
accounts for saving purpose, persons belonging to Armed forces, and
different military institutions are free to use this account on current basis.
Following is a brief description of Saving Account

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DEPOSIT RATE OF MINIMUM PAYMENT PRODUCT


SCHEMES RETURN BALANCE OF RETURN BASE
PLS 2.50% UPTO--- 6- MINIMUM
SAVING 24,999 MONTHLY MONTHLY
DEPOSITS 3.00% 25000TO BALANCE
99,999 Rs.10,000
3.50% 100,000 TO
999,999
4.00% 1,000,000
--------

ASKARI SPECIAL DEPOSIT ACCOUNT


ASDA account is an interest bearing current account interest is paid. The
payment of return is monthly, where as the rate of return with aspect to the
amount of minimum deposit clear from deposit schedules in following table). It
is also chequing account because cheques can be drawn on it. It is necessary
for this account that the client must maintain a minimum balance of Rs.
50,000 at the end of the month. That’s why it is similar to current account. It is
mostly opened by Business but individuals to open this account.Its code is
165.

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DEPOSIT RATE OF MINIMUM PAYMENT PRODUCT


SCHEMES RETURN BALANCE OF BASE
RETURN
ASDA 1.50% 50,000 TO 999,999 MONTHLY MONTHLY
AVE. BAL.
2.00% 1,000,000 TO MONTHLY MONTHLY
ASKARI
4,999,999 AVE. BAL.
SPECIAL
2.50% 5,000,000 TO MONTHLY MONTHLY
DEPOSIT
19,999,999 AVE. BAL.
ACC. 2.75% 20,000,000 To MONTHLY MONTHLY
99,999,999 AVE. BAL.
3.00% 100,000,000 AND MONTHLY MONTHLY
ABOVE AVE. BAL

TERM DEPOSITS

A term deposit is a deposit that is made for a certain periods of time at the
end of the specific period. The customer is allowed to with draw the principle
amount .
ACBLs Term deposits are of types clear in the deposit scheme in the table).
One of them is "Askari" Advantage one month. The rate of return on this
account is 9.75%. The term deposit account vary one month to 5 years and
the min balance requirement is Rs.5000/- for all following accounts
The amount of profit is given to depositors in three ways:
By cash
By sending a bank Draft to depositors Home address or Officers or whichever
is specified as mailing Address.
The amount is credited in any one of the checking Accounts of the depositor.

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RATE OF MINIMUM PAYMENT PRODUCT


DEPOSIT
RETURN BALANCE OF BASE
SCHEMES
RETURN
PLS 1 MONTH 4% 5,000 MATURITY DAILY
TERM 2
4.5% 5,000 MATURITY DAILY
DEPOSIT MONTHS
3
5% 5,000 MATURITY DAILY
MONTHS
6
5.5% 5,000 MATURITY DAILY
MONTHS
SIX
1 YEAR 6% 5,000 DAILY
MONTHS
SIX
2YEARS 7% 5,000 DAILY
MONTHS
SIX
3 YEARS 8% 5,000 DAILY
MONTHS
SIX
5 YEARS 9% 5,000 DAILY
MONTHS

Basic Banking Account


This account is only for Salaried Persons.Account is opened just for
1000 rupees.In one months any person can withdraw upto two times through
cheque and through ATM at any time .Its code is 021.

Ever Green Account


This Account is for those people who want to borrow Agri Loan.Its
code is 025.

ACCOUNT OPENING PROCEDURE

For the accounts (C/A, ASDA , SAVING) , there are different types of account
holders are required for all these types of account holders. The operation

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/procedure requirement that is needed for " Individual Account " differ greatly
from " Joint account " proprietorship "Partner ship “, "Limited Company"
and "Club society or Association " as explained below.

INDIVIDUAL'S ACCOUNT
When a single man or women opens an account in his/her own
name and has the right to operate it is called individual Account.

DOCUMENTATION REQUIREMENT
For literate person copy of National Identity Card is required as a
primary requirement. For illiterate person and Veiled Women, along with the
copy of National Identity Card requirement he or she must come in person for
opening the account.

OPERATION
 The person place a "Check Mark " in the type of account and type of
operation required
 He/She fills in part-I of the form , a fix his /her either two or four similar
signature (or thumb expression in the signature space) and get it
introduced and signed by a person who already has an account with
the bank and write his account number in the specific rows in a specific
space.
 The person fills in "next of Kin " position where he/she father, mother,
husband/wife or any other relative's name, his /her address, phone no
and affix his/her signature to certify this requirement. This requirement
is needed because in his/her absence bank can have correspondence
with the specific person.
 The person put her /his signature (" or thumb expression) on the
signature Specimen Card (SS CARD) similar in the area on the form.
One the back of S.S card mailing address, telephone no, Person to

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contact and introducer space is filled in. All these requirement are
necessary for future
 The person deposits the initial amount for opening account on to the
cash counter.
 The person put his signature on form -A (check book requisition) on
two places in "authorized signature" and fills in the "Title of Account
space by writing his name.
 If the person put his signature in Urdu or any language other than
English, he signed a "Vernacular form" where under take that affixed
signature are original and his own signature and two postal size photos
are needed.
 The next day is the opening of account.

JOINT ACCOUNT
When two or more persons, neither partners, nor trustees, open an in
their name is called joint Account. Husband and wife or two persons of same
sex can open joint account.

DOCUMENTATION
For joint account copy of National Identity Card of all the persons is
obtained other things remaining same as in individuals account.

OPERATION
 The person checks the type of amount and type of operation required
in the respective box on the form.
 The persons fill in the Part-I and part-II in the form.
 Signature of both persons are obtained on the form in the area
specified for signature and S.S. Card.
 In the title of account space names of all the persons are mentioned.
 Accounts holder specified in the form that they will operate the form
singly or Jointly.

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PROPRIETORSHIP ACCOUNT
When an owner of a firm operating singly, opens an account in his
firm name, this account is called a proprietorship Account the proper himself
liable for all his acts.

DOCUMENTATION REQUIRED
For this kind of account, an application for opening the account on
the firm letter -pad (having the firm name) is required along with the N-I-C-
Card of proprietor.

OPERATION
All operation remains the same except that the firm name is written
in the "Title of the Account " area and signature of the proprietor are affixed in
the S.S. Card and the area specified for signatures on the form.

PARTNER SHIP ACCOUNT


The account is opened in the firm name and all partner designate one
two persons to act on behalf of the partner ship firmer all acts on behalf of
firm. The partners in the partnership firm are liable for the acts of the firm
jointly and severely. Every partner has in a firm has an implied authority bind
his co. partners by drawing and enclosed cheques.

DOCUMENTATIONS

 Copy of C. N.I. C of all partners


 Application to open the account on the firm letter pad.
 Partner ship deed in case registered partnership firm.
 Letter showing the implied Authority of one or more partners to act on
behalf of the firm.

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 In case of non -registered partnership firm, understanding on behalf of


the firm to remain liable for all acts of the firm.
 Name, address of all partners is written on the pad.

OPERATION
All other requirement remain same except that the form is dully signed
by all partners cards are signed by all those partners who will act on behalf of
the firm and along filling part-I , Part-Iv is also filled.

LIMITED COMPANY ACCOUNT


This account is for limited companies. In order to facilitate their
transaction with outside parties, bank provides many facilities.

DOCUMENTATION REQUIRED
 Memorandum of Association.
 Articles of the Association
 Resolution of the Board of Director.
 Certificate of Incorporation.
 Certificate of commencement of business
 C-N-I-C

OPERATION
The persons authorized in the Resolution of the Board of Directors put their
signatures on S.S Cards. Next of kin "requirement "is not need in case of a
Limited Company. After completing each and every formality, introducer
signature is verified by S.S card and is stamped "Verified" customer
signatures are admitted by stamping "Admitting" near signature and again
signatures on S.S card are admitted in the same way. The same process of
verification and admission of the signatures is repeated on Form-A and next
of Kin area.

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After completing each and every formality, Accountant is open in the


computer by writing name, address, A/C Number etc.

LETTER OF THANKS
At the start of the letter 2nd day, ACBL issues letter of thanks to
"Account opener" and " Account Introducer " for the trust the have on ACBL.

OTHER RESPONSIBILITIES

CHECK BOOK ISSUING


Check books are issued only for checking account such as current
Account, saving Account and ASDA Account. They are not issued for other
fixed and term deposits because of their Long term Accounts “nature.”

ISSUING PROCEDURE
 Signatures on cheque – book requisition are verified by matching with
signatures on SS.
 Cheque – book leaves number, account number, account holder’s
name are mentioned in the cheque- book is made by mentioning the
and the total of sum of excise duty and provincial tax.
 The name of A/c holder and date of cheque – book issuance is written
on cheque – book requisition the account-opening officer puts his
initials on requisition leave.
 A/c number is stamped over the leaves of cheque – book and finally
authorized person affix his signature over the debit voucher and he
voucher is attached from the cheque book and is handed over to the
customer.

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RECEIVING INWARD CHEQUES


Another responsibility and function of account Opening
Department is to receive Inward cheques for collection of other Banks as well
as of ACBL. Then these cheques are sent to clearing official who clears these
checks at SBP from other banks.

ACCOUNT CLOSING
Account is closed on the written request of the customer ACBL
debits Rs. 100/- as charges for closing the customer account from that
account. The account holder with draws the amount by writing a cheque and
just leaves Rs. 100/- in his account. But to surrender the cheque book yet if
some leaves are yet to be write to the bank as a necessary requirements for
closing the account.

PROCEDURE
 The customer for individuals account write an application to the
manager of the bank an a simple paper about the closing of his
account with the bank (In case of proprietor ship partnership and
limited company account the application should be written an firm or
company letter –head)
 The individual or in case of other type- proprietor firm and company
surrender the cheque book to the bank.
 The cheque book is then torn from one side and is attached with the
application.
 In case of Ltd. Company account resolution of the board of directors is
also obtained to attach it with the application.
 The account opening form of the account holder is taken from the
account-opening file, and the application, cheque book, and resolution
of board of directors in case of limited company account are attached
with the form.

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 Lastly, it is written in “Red Ink on the form that account closed” and
“Date of account closing.”

ATM- CARDS DEPARTMENT


This department deals in issuing ATM-Card, term deposits Mr. Waseem
deals this department.
ATM CARD
ATM – Cards are only issued to Account Holder

ISSUING PROCEDURE
 The person, first open the account within the blank.
 Then he fills the ATM application form in which name of account
holder, Fathers name account number and C.N.I.Card number are
mentioned.
 A copy of C.N.I.C is also attached with the application form.
 After completing this process, the application package is sent to head
office
 ACBL head office takes a period of 2-3 weeks for preparing and
processing of ATM – cards. First, list of card holder is issued and then
after 15 days cards are send to ACBL’s issuing branch. The card and
list are not sent simultaneously in order to avoid any mishandling.
 ACBL takes Rs. 200/- per year as charges for a card

TERM DEPOSIT
Any person can open a term deposit. He needs not have an account in the
bank.
PROCEDURE
 The customer comes to the bank and specifies the number of days for
which he wants to Deposit hid money in term deposit.

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 The credit voucher is made for the amount of cash to be deposited.


The presence of account is not necessary.
 The term deposit form is then filled by the officer. The date of opening,
the period, the name of the customer, the signature etc is all written on
the form.
 The term deposit Receipt is filed according. All the requirements are
carried out, the signature of the customer and the authorized officer,
the stamp of the bank etc.
 The term deposit Receipt is then given to the customer.
 The number of the term deposit form and term deposit is noted receipt
is then given to the customer.
 The number of the term deposit form and term deposit receipt is noted
in the term deposit Register.
 After completion of the form, it is posted in the term deposit file.
 A 0.2% tax on the provincial amount is taken while issuing the receipt.
 A credit voucher made and the amount is credited to the tax on TD.

CASH DEPARTMENT

Cash department of Bank Alfalah works under the operation department. This
department is given the complete responsibility of cash, as result of
transaction in touch local and foreign currencies. It is also responsible for the
book keeping of these transactions and the safe custody of cash.
This department performs the main function.
Cash receipts
Cash payments

Cash Receipts
In cash department depositors use deposit slip for depositing the
amount into their accounts. The officer checks if the deposit slip is properly
filled up containing title of account, A/C number, date and amount in words

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and figures. Detail on both counter file and cash receipt voucher should be
the same. Cash receiving officer, after twice counted and matched with the
deposit slips will handover cash to the customer. The cash details are written
on the back of the deposit slip and are also entered in cash receiving register.
Cash received stamp is affixed on the face of the deposit slip along with the
signature of the cash receiving officer.

CASH PAYMENTS
First the cheque is presented by the customer or holder to cash
payment officer. He confirms that it is drawn on the same branch and the
particulars of cheque are properly filled in. one signature of the holder is taken
on the back of the cheque. Cheque is handed over to the officer cash
department for scrutiny where officer checks the date, amount in words and
amount in figures, payee’s name, crossing if any, account number, cheque
serial number, any material alterations / endorsements and signature of the
customer. Account is debited and then the officer cancels cheque. It is posted
in the system and posting stamp and number is affixed on it. Cheque is
handed over to the cash payment officer for payment. One more signature on
that back of the cheque is taken from the holder to match with the first one,
and then cash is paid to the cash detail is written on the back of the cheque.
Cash paid stamp is affixed on the face of the cheque. Entry is passed in the
cash payment register and system.

ACCOUNTS DEPARTMENT
Accounts department is a department which deals and checks all the activity
of all the department .It also deals in expression of finance of the bank. Salary
payment is also one function of the bank.

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CHECKING BANK’S DAILY ACTIVITY


Accounts department deals and checks the entire working of the Branch; all
the vouchers that have been posted at the computer are scrutinized in
accounts department. The “End of Day” i.e. computer print is also received
from the computer. The next day the activity is separated some statements
from the “End of Day”. Then next day activity separated some statements
from the “End of Day”. The vouchers are sorted out head wise. The vouchers
are matched with the entries in the statements.
Any abnormality if occurs, is immediately dealt with. All the vouchers and
instruction are checked individually against the computer printouts. After
checking they are signed by Mr. Naeem Shahzad and the internal auditor Mr.
Shafiq.

OTHER ACTIVITIES
Preparation of daily bank positions statement
Payment of salaries
Preparation of the statements
Depreciation calculation

REMITTANCES DEPARTMENT
Remittance department provides services to the customer of the bank. The
main function of this department is transfer of funds.

INSTRUMENTS OF BILLS & REMITTANCE DEPARTMENT

The instruments that are handled in the B & R department are as follows:
 Demand Draft.
 Traveller’s Cheque
 Telegraphic transfer.

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 Mail transfer.
 Pay order.
 OBC.
 IBC.

DEMAND DRAFT
A demand draft is an instrument, which is drawn by one bank upon another
bank for a specific sum of money payable on demand. It is made by the bank
and given to the purchaser against cash or cheque. If two banks are involved,
then one banks sends a DD to another bank. But in customer - Bank case the
customer sends his DD to the receiver.

ISSUANCE PROCEDURE
 A demand draft application (Annexure--) to given to the customer, he
fills in a relevant information and signs it.
 The Officer in charge then checks the information form.
 The charges such as commission, excise duty, postage is charged as
per effective schedule of charges. Tax is exempted if he is taxpayer &
knows his No.
 In case of cash deposit the cashier counts the amounts & signs the DD
application and enters it in the register.
 The cash received equals the amount of remittance & the cheques
there on.
 Then the officer of the bills & remittance department signs it and
operation manager counter signs it.
 The entry is made in the DD issuing register.
 It is given to the customer.
 The vouchers and the DD form given for posting at the computer.
 The DD advises are printed at the computer and mailed to the
respective branch.

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NOTE
 On the contra, when a DD is received i.e. a customer comes to us with
the DD, the procedure is as follows.
 The DD credit advice is received through mail. The No’s are checked
& signatures are verified.
 An entry is made on the DD payable register, and the vouchers are
made.

 the Branch Dr
DD payable Cr
 The DD credit is attached with the vouchers and given for the posting
at the computer.
 When DD is received, the test No’s are checked, and the payment is
made.
 The vouchers are given for posting. And the entry that was made in
register is closed. i.e. DD payable is Nil.

Traveller’s Cheque
The range of our products and value added services enhances with
introduction of Rupee Travellers Cheques (RTCs) launched in March 2002.
In spite of our constraint on issuing higher denomination of RTCs against
restrictions imposed by the Central Bank of Pakistan we have been striving to
attain our shares with sizeable portfolio. Total volume handled by the
department during the year 2004 is Rs. 798 Million.
The safe way to carry cash.....another Valuable Financial Service

Going places? Don't leave home without the convenience of Askari Travellers
Cheques in your pocket. Available in the denomination of Rs.10,000/-, it's
light, safe and ideal for all travel purposes. Welcome to another valuable
financial solution from your trusted bank.

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Free Issuance

You don't have to pay any service charges for purchasing Askari Travellers
Cheques. You can buy these either against cash or debit to your personal
account. Simply visit any of our branches located all over Pakistan and enjoy
the privileges of buying Askari Travelers Cheques

Earn 0.10% encashment Commission


This matchless feature lets you experience yet another innovative customer
care solution. You will receive 0.10% commission whenever the traveller
cheque is encashed after 30 days of holding.

Enjoy Added Safety & Security


With our state-of-.the-art in-built security features you can be rest assured
that this is the best way to make and accept payments. High security
lithography, ultra violet printing, special thread, anti scanner pyramid design
and unique micro lines, all done and printed in UK gives you the comfort of
dealing in the most safest substitute for cash, easily refundable in case of loss
and theft.

TELEGRAPHIC TRANSFER
A telegraphic transfer is a fastest & safest way to transfer money. The
message is fixed.

ISSUANCE

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 The request for maintenance through T.T is taken on the standard


printed form.
 The customer fills it & signs it.
 The Head & remittance department checks it, the charges such as
commission, tax, telex as per effective schedule and signs it.
 If he fills the tax exemption from then no tax is levied.
 Then a neat T.T is made on the white slip. There are 3 copies. The
original faxed to the Branch, one to the Head Office and one is kept as
record.
 The entry is made in the TT issuing register.
 The following vouchers are posted.
 Commission Charges Cr
 Fax charges Cr
 W.H. Tax. Cr
 When commission bill is received, it is attached to the T.T office copy in
the file.

PAYMENTS
 When a T.T arrives, the test numbers are checked and the signatures
are verified.
 The entry is done in the T.T pay able register.
 The following vouchers are prepared & given for posting.
 Head Office Dr
T.T Pay able Cr
 T.T Payable. Dr
party A./C. Cr
 If there is no a/c then the T.T receipt needs revenue stamps and then
the payment is made. The T.T receipt is strictly non negotiable.

PAYORDER

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It is a cheque drawn by a bank on itself. Pay order is an instrument in which


the parties are involved the purchase, the bank and the receiver. It can he
purchased by any customer. It is usually made by govt. Bodies. A single bank
is included in this case.
ISSUANCE

 The standard form is given to the customer; he fills in the detail and
signs it.
 The concerned staff checks the form.
 Charges as per effective schedule are applied.
 The cash of the pay order is received.
 A cost memo is signed, stamped and handed over to the applicant as a
receipt.
 Then the pay order receipt is filled accordingly.
 Counter foil is also filled.
 An entry is made in the pay order issued register.
 Then the authorized office after checking the pay order signs it.
 The pay order is then handed over to the application after obtaining his
signature on the P.O form.

 A voucher is also made and posted at the computer Cr bills payable


account P.O issued.

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PAYMENT
 On representation of the pay two authorized officers of the branch sign
order receipt the receipt.
 The P.O entry is made in the P.O issued register.
 Then the amount is credited to the account of the customer or paid in
cash.
 The P.O is posted at the computer.

PAY SLIP
It is an instrument used by the bank s for its payment. The slips are issued to
the employees of the banks their bills & invoices. The bills are transferred
payments. In this case only one bank is involved .He is the issuer as well as
the payer.
Procedure prescribed for P.O for issuance and payment is followed for
payment is followed for pay slips with the following expectations.
 Pay slips are issued by the bank for the settlements of this own
payment.
 No excise duty is applicable on P.S.

ISSUANCE
 A credit voucher is sent from the accounts dept. to the b debt.
According to the b debt.
 The P.S books is taken out & filled according to the credit voucher.
 It is entered in the P.S./P.O register.
 It is signed by, an authorized officer, Operational Manager Mr. Abdul
Jabbar Qureshi.
 The pay slips is handed to the customer.
 A voucher made and posted payment.
 The P.S. is received on the counter, clearing or transfer.
 On receiving the P.S. if it is transferred in the P.S. register.

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 The payment is made and the P.O. is posted at the computer.


 Dr. Bills payable P.S. issued.

 If Askari branch is in that city, the OBC forwarding schedule in sent to


that Askari Branch. Otherwise it is addressed to the particular Branch
to whom the cheque belongs.

OUTWARD BILLS FOR COLLECTION


The bills, which are sent to their cities banks for the local clearing in that city,
are called outward bills for collection.

PROCEDURE
 The cheques that are banks in other cities are separated.
 They are entered in the OBC register, the number is written on the
stamps.
 The OBC forwarding schedules are prepared for the different
branches.
 The respective cheques are attached with the schedule.
 Two authorized officers sign the schedule.
 The office copy is filled and the original schedule is mailed.
 On clearance the respective banks send back the OBCS along with
IBCA. Inter branch credit advice.
 The OBC no are checked for the OBC register and the received any
entry is made.
 Charges i.e. commission charges and postages charges are deducted
from the A/C.

 Vouchers of following entries are made.

 Party A/C Dr

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Commission Charges Cr
Postage charges Cr
 At the end of the day the contra vouchers are.
 OBC collection Dr
OBC lodged Cr
 OBC collection Dr
OBC lodged Cr

INWARD BILLS FOR COLLECTION


The bills are received from other banks out of city for the local clearing are
called inward bill for collection.

PROCEDURE
 The OBC of the other branches will be the IBC’s of this branch. So an
OBC forwarding schedule is received by mail.
 The cheques are entered in the IBC register. The IBC numbers are
allotted to them.
 The cheques are lodged for clearing.
 After realization, an IBCA is prepared and mailed to the branch.
 At the end of the day two contra vouchers are made & posted.

IBC collection Dr
IBC logged Cr
IBC Collection Dr.
IBC lodged Cr

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OTHER FUNCTIONS
BALANCING THE REGISTER
At the end of the day, all the registers are balanced with the computer
balances. The heads and checked are as follows.
 DD payable
 IBC collection.
 MT payable.
 OBC lodged.
 OBC Collection.
 TT payable.
 IBC lodged.
 Bills payable. P.S. issued.
 Bills payable P.O. issued.
If the payables are not cleared for a lot of days, a reminder is sent to the
respective branches.

CLEARING DEPARTMENT

“The process by which cheque exchanged between the collecting and paying
bank and the ensuing financial settlement is called “clearing”. This facility is
provided by the state bank of Pakistan for offsetting of cross obligations
between the different banks. Clearing is of two types.
1) Inward clearing
2) Outward clearing

Inward Clearing
When cheque drafts, etc, of our branch presented to us for clearing by the
SBP. Cheque to be honored by bank.

Outward Clearing

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The cheque of other banks, which the account holder deposit in their
accounts is, sends for collection.

CLEARING PROCESS (INWARD/OUTWARD)

Here the local cheques are received that are drawn on BAL. All the cheques
are received on one counter along with the paying slips duly filled in properly
containing particulars of cheque and account holder. Counter folio of paying
slip is handed over to the customer by putting stamp for cheque received for
collection for Bank Alfalah on it duly signed by officer. These cheques are
scrutinized and cheques for local clearing are separated from OBCs. These
are then entered in clearing register and cheques for collecting are entered in
OBC register and handed over the bills department of collection. Clearing
officer checks and verifies title of all the cheques deposited by the customer
to confirm the good title of the cheques. Cheques are scrutinized properly and
paying slips are separated from cheques. Special crossing, endorsement and
clearing stamps are affixed on the cheques. Cheques of each bank are sorted
and arranged branch wise. All the cheques are then entered into the clearing
system of bank. Print out of the clearing is taken and details are attached.
With the cheques of each bank. Details of these banks are then entered into
the clearing schedule containing number of cheques presented and their total
amount against the name of each bank. Then total number of cheques
presented to all banks and their total amount is written on the foot of that
schedule, which is tallied with the clearing register.
Next morning, these cheques are delivered to the respective banks in clearing
house of SBP between 9:00 to 9:30 AM. In the same manner, other banks
present their clearing drawn on Bank Alfalah. Total number of cheques and
their amount delivered to other banks are received from them are written on
the clearing house schedule and handed over to the officer clearing house
SBP. Cheques / DD received in clearing are given to the officer cash
department of the branch for their repayment. After I proper scrutiny of
cheques, verification of signatures and confirmation of balance in the account,

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officer cash department pays these cheque by canceling and posting them in
the system.
If any cheque is not passed due to insufficient balance or any other reason,
officer cash department returns the same cheque by attaching a cheque
return memo containing reason for return. This cheque is entered into the
cheque returned register and bank charges are deducted according to the
schedule of charges.
Second clearing is called at 2:30 PM to check the fate of the cheques
presented to other banks in the morning. If any cheque is to return, that is
delivered to the same bank in second clearing. In the same manner, if any
cheque presented by Bank Alfalah in first clearing is returned, they receive it
and once again give schedule of clearing figure to the officer-clearing house
SBP containing number of cheques and their amount delivered and received
unpaid.

FOREIGN TRADE DEPTARTMENT


Mr. Noor, Mr. Rahat and Miss Samia deals this department. Nature has
distributed its wealth un-evenly. Some countries are rich in human resources
other have mineral wealth in abundance and yet other have arable land and
favorable climate conditions for agricultural production. This un-even
distribution of resources basically determines the productive efficiencies of
different countries.
This is the point where different countries come together to exchange their
competencies and efficiencies. The countries, which lack in any of the
resource, start importing those resources from the country that is having
excess of it. In this way the trade starts between different countries.

Benefits of Foreign Trade:


Following are the main benefits of foreign trade.

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o It enables the country to use its resources most profitably and


efficiently.
o A wide scope is available for a country for its surplus production.
o International competition compels countries to produce quality
products at competitive costs.
o A country can earn foreign exchange by selling its products in
the international market.

Trade Finance Services of ACBL.

With its presence in most export-oriented cities in the country, the volume of
trade finance business ACBL is one of the highest in Pakistan. That is why
most of the companies prefer banking with us. To support the growth of our
business partners' ventures, we offer them a wide range of services:
 Documentary Collection
 Import Letter of Credit
 Export Letter of Credit
 Guarantees
 Bill Discounting
Pre-shipment and Post-shipment Financing.
Foreign Exchange Department works like the general bank departments with
the difference that it deals in foreign currency. This department deals with the
following:-
 Import
 Export
 Foreign Currency Accounts
 Foreign Remittance
 Submission of Monthly Reports to SBP

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IMPORT:

The international trade transaction, in which one country buys goods


from other country, is called import.
The import trade in Pakistan is governed by import and export Act of
1950. Previously, the regulating body of imports was controller of Import and
Export. But this function has been shifted to Export Promotion Bureau.
Foreign Exchange Departments of all banks are restricted to word
under the rules and regulations of government.

Import License and Registration:


The individuals and firms who desire to import goods from the foreign
countries are required to obtain import license. Import licenses are a type of
artificial restraint on the import trade of a country. To acquire import license,
the importer has to submit applications to the licensing authority. The
importers can only get their merchandize cleared from the custom authorities
if they have the import license duly issued in their names. The import licenses
issued by the Import Trade Controller are required to be registered with the
State Bank of Pakistan.

Contract of sale:

After getting the license, the importer then negotiates with the
exporter. When they reach to an agreement on all terms of sale, they sign a
contract. Thus contract includes all information of terms and condition of sale.

Letter of credit:

Foreign trade payment problems are mainly solved by a letter of


credit. A letter of credit is issued by the importer’s bank. If guarantees
payment to the exporter up to specified amount of money provided the terms
and conditions laid down the L/C are fulfilled.
A letter of credit is a commitment on the part of buyers bank to pay or
accept draft drawn upon it, provided drafts do not exceed a specified amount.

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A letter of credit thus is a (I) written undertaking by an importer’s bank


to exporter’s bank. (II) that it will pay or accept draft drawn upon it up to a
stated amount with a specified time. (III) the payment will only be made to the
exporter if he compliers with the terms of credit.

Parties to a letter of credit:

There are four parties involved in letter of credit.

1. Account party: The buyer or the importer on whose account and


request the letter of credit is opened is known as account party or
opener.
2. Issuing bank: The bank which issues or opens a letter of credit at the
request of importer is called issuing bank.
3. Exporter or seller: The seller or the party in whose favor L/C is drawn
is the exporter. He is also called beneficiary.
4. Negotiating bank: The paying bank in the exporter’s country, on
which the draft is drawn is called negotiating bank or paying bank.

Opening of letter of credit:

The main steps involved in the opening of the letter of creditor as follows:

Application for letter of credit:

The importer will request his own bank or any other bank, which deals
in foreign trade transactions to issue a letter of credit in favor of the exporter.
He will prepare an application on the prescribed form available from the bank.
The information, which are supplied in the application are based on the
contract of sale and include only the important feature of contract, such as
value of merchandise, port of shipment, documents to be presented, port of
unloading, brief description of goods, import license etc.

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Scrutiny of application:

Before issuing a letter of credit, the bank will scrutinize whether the importer
is of good financial standing, possesses the import license issued by import
control. Authorities, the amount available covers the letter of credit applied for,
market demand of goods, collateral offered to cover the credit etc.
Cash margin:

The bank asks the importer to deposit cash or securities with the bank.
The proper margin of cash or securities to be deposited is decided by the
bank depending upon the credit worthiness of the importer.

Issuance of the letter of credit:

The importer bank after being fully satisfied will issue a letter of credit
in favor of the exporter. The L/C may be sent directly to the exporter or the
advising bank in the exporter’s country. In such a case, the advising bank will
inform the exporter about opening a letter of credit.

Shipment of goods:

When the exporter receives L/C, he examines it to ensure that it


conforms to the terms of contract of sales. He then shifts the goods and
presents all required documents along with the bill to negotiating bank.

Role of negotiating bank:

The negotiating bank after receiving all the documents and the bill from
the exporter will scrutinize them whether these conform with the terms of
letter of credit. If the documents of title accompanying the bill are in order,
these will be sent to the importers bank for payment.

Liability of the issuing bank:

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On receipt of documents and the bill, the issuing bank will examine
them. If the documents on the face appear to be in order, the payment would
be released by the bank. In case any defect is found in the documents and
the draft is honored by the issuing bank the importer can claim damages on
the issuing bank. The issuing bank is only accountable for the completeness
of documents, not to see whether goods conform to the contract of sale.

Payment by importer to the bank:

First the importer pays all his obligations the bank then bank releases
the documents. In case of sight draft, the importer’s bank pays the amount on
the same day charging the importing customer’s account. In case of a time
draft, the importer discharges his obligations to the accepting bank on or
before the maturity date of acceptance. The accepting bank will then release
all the shipping documents to the importer.

Payment to the exporter:

The exporter can obtain payment from the negotiating bank by discounting
the draft (L/C) immediately after shipping the goods and obtaining shipping
documents.

2: EXPORT SECTION

The international trade transaction in which one country sells its goods to
other country is called Export.

The controlling body of export in Pakistan is Export Promotion Bureau, it


gives different incentives to the businessmen for enhancing the exports and
reducing the Balance of payment deficit. It restricts the export of some goods
and reinforces export of other.

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Export section is another section of Trade Services Department. If any person


wants to sell his or her products in the foreign countries, he can do all that
with the help of export section of the bank. This department is responsible for
the export procedures and documentation. This department handles export
documents complying with rules and regulations prescribed by the State Bank
of Pakistan. These rules and regulations are briefly described as under.
 He must all in to sale contract with the importer.
 He must be having account with the bank.
 He must have registered himself with CCI&E.
 He must have export license from EPB.
 He must have income tax certificate that would be only for export
purpose.
 He is not allowed to export to those countries for which Govt. has
restrictions for foreign trade.
 Full value of goods exported from Pakistan must be declared to
custom authorities.

Documents Required For Exports

Normally following documents are required by the importer that the exporter
must submit to the negotiating bank with the shipment documents.

1. Invoices:

The invoice form is needed along with the export documents which are sent
to the importers bank. In the invoice form different information is provided
regarding the goods to be shipped. It contains the amount, rate, weight,
description, sending and receiving parties names.

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]2. Bank Covering Letter.

This covering letter is very important letter with the export documents, which
are sent to the importers bank. The exporters bank provides this letter. It
contains all the information about parties’ names and addresses, amount,
tenor, date, goods, enclosures and terms & conditions.

3. Shipping Documents:
The shipping document includes the buyers and buyer’s bank addresses,
amount, tenor, shipping source and destination.

4. Bill of Exchange:
The bill of exchange is the negotiable instrument for the payments. This is
also very important to attach with.

5. Packing List:
The packing list is also attached with the documents of export, which contains
the information about the packing of goods being exported.

6. Bill of Lading.
The shipping company issues bill of lading. It means that the goods have
been shipped and that goods are in the custody of the master of the ship. In
the bill of lading all information regarding the goods shipped are give. It also
indicates that payment has been paid.

7. Insurance.
The insurance of the goods sent for exports should also be maintained and
attached with the other documents.

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8. Letter of Credit.
The letter of credit issued by the importer’s bank is also sent to the importer’s
bank after the review and acceptance.

9. Export Form.
This is just like the import form. It is issued by the exporter’s bank, which
contains the information about goods, quality, invoices, port, consignee, tenor,
consignor and mode of shipment.

Foreign bill purchased (FBP):

Following requirements must be fulfilled before the purchase of


Foreign Export Bills.
Exporter should be account holder of the bank. Bank issues the Form-
E. Form-E should be filled correctly and then bank authenticates the E-Form.
Exporter goes to the custom authorities for custom clearance. Shipping
Company issues Bill of Lading or Airway Bill. Exporter should bring other
documents like certificates of Origin, commercial invoice, packing list etc.
Bank scrutinizes the documents.
After fulfilling these requirements, bank purchases the export bill and
makes payment for the value of goods in Pak Rupee to the Exporter.

Lodgment:
Lodgment means making the payment to exporter by bank against
the purchase of bill. Two types of rates are used in evaluating the amount:

OD Buying rate/At sight rate:


It is the rate of export bill, payment of which is to be received within
12 days from the date of lodgment.
Usance rate:

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It is the rate payment of which is to be made at a future date,


normally within 30, 60, 90, 120, 150, or 180 days.
Realization:
Realization means receiving the payment from the foreign bank for
the export of goods.

Other activities:
In addition to Export and Import, there are also other activities
performed in Foreign Exchange Department.

1.Foreign currency accounts:

A depositor can open account in US Dollar, Pond, Japanese Yen and Euro
with nominated branches. For opening of account a Form is provided to the
person/party, introduction of the new account holder or by the Officer of the
Bank. Procedure of opening foreign currency accounts is same as other
accounts. No Zakat is deducted on these accounts, no income tax
deductions, no wealth tax deduction will be there, these incentives reinforce
and motivate the people to invest in foreign currency accounts rather to keep
foreign currency idle.

2. Foreign remittance:

Bank also operates in Foreign Currency accounts. In accordance with


instructions of SBP, foreign currency accounts are opened in these
currencies: US Dollar, Pond, Japanese Yen, Euro. Funds are transferred
abroad by Foreign Telegraphic Transfer Swift MT-100 is used for this transfer.
Askari Commercial Bank has its agency arrangements in those countries,
where its own branches are not established. Its agency arrangements with
Citi Bank, American Express, ABN Amro, Standard Chartered Bank.

Submission of monthly returns:

It includes reporting of Form-M and Form-E to SBP.

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Reporting of Form-E:
Every Exporter is required to submit a declaration of custom
authorities for goods exported. This declaration is submitted on prescribed
Form-E in quadruplicate, which is certified by authorized dealer. Four copies
of Form-E are maintained. Form-E is reported to SBP at the end of the month,
in which the amount is realized. There is a prescribed Performa used for the
reporting of Form-E. It includes the reporting period, currency, Serial No. of
Form-E, amount, Code No. of country and commodity.

Reporting of Form-M:
Every foreign bank deducts some charges form the value of goods.
It is for miscellaneous purposes like foreign bank charges or foreign agent
commission. Form-M is used to declare this outflow of foreign currency. At the
end of the month of realization of the amount, Form-M is reported. It includes
the list of Serial No. amount and purposes of every Form-M.

REFINANCING SECTION

Refinancing is the credit facility for the exporters provided by the Govt. at
lower rate of interest, just to boost the exports in the country. It was started in
early 70’s. The interest rates are always changing in this facility. The state
bank of Pakistan charges 8% and then bank will charge 10% from the
customers. For banks this is free source of income because in this way funds
of banks are not used.
Refinancing is further divided into two parts.

 Finance against Packing Credit (FAPC).


 Finance against Foreign Bills (FAFB).

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1. FAPC Loan:
This loan is on the basis of export contract. The shipment amount should be
equal to the loan amount. It is approved within 48 hours or otherwise
disapproved. If approved, the amount is credited in the account of the party.
This is also called pre-shipment loan.

2. FAFB Loan:

This loan is under L.C. It involves the bank risk line because of the
transactions between the banks. This loan is given against security and this is
called post-shipment loan.

CREDIT DEPARTMENT

Credit department is also one of the most important departments of the bank.
It is called the mind of the bank. This department controls the affairs of bank
related with the finances or loans.
The credit department of Emirates Bank International also performs the
functions relating to the credit administration and credit accounts. It performs
following functions.

Products & Services of Credit Dept.


Our Credit and Marketing Department aims at providing complete financial
solutions for its customers. Skilled professionals deliver contemporary
corporate banking services in a personal manner. Committed to maintaining
stable and long term relationships with our customers, Askari Commercial
Bank combines personalized services with technological capabilities to deliver
sophisticated banking solutions.

Products and Services offered include:


 Trade finance

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 Short Term Working Capital Finance


 Local Currency Syndication Finance (Foreign Currency Syndication
can also be arranged)
 Medium Term /Long Term Finance
 Term Finance Certificates
 Offshore Loans
 Advisory Role (Balance Sheet Restructuring).

OBJECTIVES OF LENDING.

In the modern economics, more than 90% business concern raises their
funds from various financial institutions to meet their multifold transaction.
Actually it very difficult for the modern businessman to run his business on a
huge scale solely. He has to float his shares to the public or knock the doors
of financial institutions, for example the banks.
The most easy way to make fund available to seek assistance by such
agencies including banks which have got surplus funds and will come to the
assistance of producing units, distributing units and exchanging units. In this
way of lending, the banks earn the profits in term of interest and mark-up.

Selection of Borrowers:

The selection of a reasonable and trustworthy borrower is complicated and at


the same time very sensitive task which requires decision-making power from
the bank employees. In the words of the manager of a branch of Askari
Commercial Bank.

“ Good selection of borrowers does the half task in the profit of the Bank.”
So banks do not throw the money away but every application is tested
carefully before being sanctioned. It is the policy of Askari Bank to provide a
outline to all of its branches and on the basis on those requirements the bank
select the borrower.

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Following are the main points, which are considered before lending.

1. Character:

The bank inquires the character of the borrower in every aspect. Because this
is the right way to judge his dealing and business tactics. When the bank get
sure that this person has good relationship with us and in the business
market, they give him the facility of credit.

2. Capacity:

This factor is related with the ability of the borrower to manage his business
successfully. So this is checked that either they have necessary
management, accounting and technical skills and the degree of experience in
the particular line of business for which the finance is required. This ability of
the customer can be judge from the trading results, turnover ratios, and
collection of receivables and management of accounts payables.

3. Capital:

The proportions of the borrower’s own resources to the account of finance


requested are the next point to receive the branch manager’s attention. This
is checked that both the amount of loan required by the person is equal to his
resources available in his business and will he be able to cover them out of
his resources.

4. Cash Flows:
The source of repayment should be ascertained at the beginning. For
this purpose the financial worth of the customer is checked that either he is
able to repay the loan by the sale of his inventory or from realization of the
accounts receivables, then the loan is sanctioned.

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5. Collaterals:
Security is to be correctly looked upon as the second source of
repayment. As we have discussed that this is one of the most critical
decisions for the credit management to sanction the loan that’s why they
require any collateral by the customer for the security of the loan. In case the
borrower is unable to pay his debts then the amount can be recovered by
selling the collaterals.

6. Purpose:

Another important factor, which is taken into the consideration by the bank, is
that for what purpose the loan is being sanctioned. If the customer wants to
get the loan for business purpose then he is given the preference over when
he wants to get loan for personal use.

7. Period:

It is the policy of every lender that first the period of the loan is decided.
Normally the short-term loans are preferred to be sanctioned because of the
lesser risks available. ACBL Bank has its own policy of lending. It only
sanction the loans for short term period not for the long term period, normally
these are less than or equal to one year.

CLASSIFICATION OF ADVANCES

The loans and advances given by the bank are classified into two parts.

 Unsecured or Clean Advances.


 Secured Advances.

1. Unsecured or Clean Advances.

An unsecured advance is made against the personal reputation of the


borrower with the bank. Normally these advances are given to the regular

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customers of the bank and have maintained a good dealing with the bank for
many years.
The policy of Askari Commercial Bank is to avoid such clean advances
because of the unsecured nature.
If the party is unable to repay the loan then it becomes very difficult for the
bank to collect the loan. That’s why the bank uses this policy just to give this
type of loan only to the exceptional customers.

2. Secured Advances:

The word security means any thing given to protect the repayment of an
advance. This is the policy of every financial institution to provide the secured
loans to the customers. So secured loans are those, which are backed by the
tangible security. A tangible is that which has a physical existence for example

 Land and Building.


 Stocks.
 Share certificates
 NIT Units.
 Security of Cash in his Account.

TYPES OF ADVANCES:

ACBL normally classify the advances into the following three major types.

 Agricultural Advances.
 Commercial Advances.
 Industrial Advances.

1. Agricultural Advances:

Agricultural advances are available for each of the following spouse.

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2. Farm Credit.
These credits are provided for purchase of inputs development of agricultural
land. Following are two main classes of farm credit.

3.Production Finance.
This loan is provided to farmers for purchase of inputs like seeds, fertilizers
and pesticides.

4.Development Finance.
This loan is provided for the development of agricultural land like purchase of
tractors, for tube well and for watercourse improvements etc.

The basic purpose of these is to boost up the small agricultural


industry to provide the opportunities of earning in agricultural sector.
Non Farm Credit
Following is the different type of small agriculture industry for which this loan
is granted.
 Live Stock.
 Fish Form.
 Dairy Form.
 Forestry.
 Sericulture

2. Commercial Advances:
These are the advances which are given to the small business men,
who want to start the business on a small scale. Such loans or advances are
not of large amounts but of small amounts.

3. Industrial Advances:

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These advances are sanctioned to the industrial persons. The


industrialists who are running their businesses on a large scale can get the
facility of these advances. These advances are in large amounts required for
the import and exports of the goods and services. These advances are given
on the credibility of the parties.

Credit Administration:
When some one wants to obtain the loan and his loan is approved,
the work of credit administrator starts. He prepares the documentations
relating to the advances of the account holders and makes the further
processing. He also prepares all the related reporting and then sends it to the
head office. He also maintains the documents, which are required by the state
bank of Pakistan. The filing of all the legal cases is also maintained by the
credit administration. After that the officers maintain the credit accounts and
ledgers of the customers.

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CREDIT CARD DEPARTMENT


Mr. Shafeeq deals this department. He told me that the bank is authorized to
issue the credit card of two companies, which are under bank of America.
 Master Card
 Visa Card
But due unavailability of visa card machine in Multan, ACBL Multan branch
deals only Master Card.
There are following types of master card.
 Silver card
 Gold card
These are different due to their credit amount limit. For example for silver
card, cardholder can take the maximum amount ranging between Rs.
25,000 to Rs, 180,000. For gold cardholder this limit has been Rs.
180,000 to 500,000.

ISSUING CHARGES
When the card is given to cardholder, there are certain fee charges to by
the bank, which is different for different cards.

Silver cardholder is charged Rs. 1700.


Gold cardholder is charged Rs. 3500.

ISSUING PROCEDURE
Credit card is issued to three types of parties.
 Professional (Govt & private officers)
 Business man
 Landlord.

PROFESSIONALS
For professionals bank require

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 Authorized letter from the concerned organization in which he works.


This letter shows all particulars about the person, on the basis of these
particulars; bank open on account and some feasible amount is
required.

BUSINESS MAN
In the case of businessman bank need
 Balance sheet of businessman.
 Type of business.
 Turnover of 5 years.
And then when it is sured that the business has the ability to cover the
expenses of credit card and to pay it at any time, the bank issues the credit
card.

Land Lord
In the case, the person is totally new, and the bank doesn’t know anything
about him. For this bank need an account having the amount over and above
the credit card limit of that credit card. Usually, there is more chance of default
in this case; so, the bank avoids issuing credit card to that person.

PAYMENT PROCEDURE
The cardholder should have to pay all the amounts what he has consumed.
But in order to facilitate the cardholder, 5% is the minimum limit that the bank
requires and that should be paid monthly. If you paid only 5% then 2%
interests will be charged on remaining amount and it is added into the next
month payments.
If that 5% is not paid then Rs. 100 are the additional charges charged to the
next month payment apart form the 2% interest.

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FUTURE PROSPECTS

The outlook for the rest of the year 2006 remains challenging and is
dependent on the success of the Government’s economic policies and n
improvement in the investment climate. The bank’s commitment and
endeavor to excel in rendering contemporary banking services along with
acceleration of business mobilization will, Inshallah, further enhance the
portfolio of its business, and the profitability, in the ensuing half-year.

LEARNING AS A STUDENT INTERN:


There are following learning points for me in the bank.

First week
Duties
In my first week in Askari Commercial Bank commercial bank, they assigned
me work in Account Opening Department.Mr Bilal Mehmood trained me very
nicely and I learned lot of things in this department. He told me diffrenet
accounts names and their codes.How to open the account .
 New Computerized national identity card is must for opening of new
account.
 For current account 10,000 and for saving 5,000 are required.
What are the necessary requirements of different accounts to be opened.
Other activities are

 How to fill the deposit Slip if anyone wants to transfer cash in the
account or online transfer
 How to fill the different accounts Form
 How to fill the voucher for issuing of the Cheque Book for the first time

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 How to fill the requisition slip for the second time issuance
 How to issue the Cheque Book
 How to enter it in the register
 What are the procedures for the ATM card
Accomplishments
I m fully trained in this job how to open the different accounts ,how to
issue the cheque book and enter it in the register and how to transfer the
amount through cash or cheque to an account and how to issue a Debit Card.
Second Week
In the Second Week they assigned me work in Clearing Department.Mr
Jibran trained me very nicely and I learned lot of things in this department.
Duties
There are two types of clearing.
1. I/W (Inward clearing)
2. O/W (Outward clearing)
In this week I entered the cheques lodged for inward clearing in clearing
register as their cheque number account holder name cheque amount and
bank name amount to be paid.
Secondly in this week I prepared (O/W) clearing for next day. Same as
entered cheque number account holder name amount and Bank name.
In this week I also entered cheque return in cheque return register and put
cheque return slip on cheque.
Accomplishments
I am full trained now in this particular job . How to fill cheque return
slip? How to enter in I/W ,O/W clearing register.

Third Week
Duties
In third week I perform following tasks relating to the banking system.
1. IBC (Inter bills clearing)

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2. OBC
In this week I worked for IBC (Inter bills clearing) . IBC mean cheques lodged
for clearing
From other city. I entered these cheques in IBC register if it is ACBL cheque
then Mr. Jibran cleared or return this cheque and if it is cheque of other bank
then it is again entered in O/W clearing registered and lodged next day for
clearing.
Secondly in this week I prepared OBC, filling of OBC slip as cheque number
their amount OBC number and branch name.
Accomplishments
In this week I repeatedly performed this job and now I am fully trained in this
job.

Fourth Week
In Fourth week they assign me work for Remittances Demand draft and Pay
order preparation.
Duties
Demand draft is for payment outside of city and pay order for local payment. It
is a secure source of payment.
There are no charges for Pay order while other banks charge for this service
so it is an advantage going to ACBL bank to attract customers.
Accomplishments
In this week I repeatedly perform the jobs and I aIn m fully trained in such
type of operations i.e to make the DD,Pay order and mark the Charges if
Customer is not account holder of the Bank then 255 Rs commision of the
Bank.

Fifth Week
Duties

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In this week I worked in Accounts and Cash Department.


In fifth week they assign me work in cash department.
In cash department I learned about Receipts and Payments and about how to
receipt cash and how to enter it in computer.
In Accounts Department how to sort the Voiuchers and preparation of Salaries
Accomplishments
I am fully trained in this job i.e to check that all the vouchers are acrutinized
and matched with the activity
Sixth Week
Duties
In Sixth Week I worked in Forein Exchange and in Credit Department.
They told me brief introduction about import and Export. Necessary
Requirement about the Letter of Credit .What Documents are required for
Import and Export
Secondly in this week I learned about Advances from credit manager Mr.
Ateeq. What are requirements for loan. It is a procedure that takes many days
Accomplishments:
I In this week I m fully Trained in these jobs

Problems faced by branch:


During my internship at this particular branch of ACBL, there are following
problems I have found which are directly affect on efficiency and performance
of the bank. There problems are also called as an internal problems. So
these are discussing below

1. Lack of communication among the employees:


During the period of my internship I found this problem as a biggest problem
that, they are not very effective in communication between themselves. They
do not share the experience with each other and do not care the other
employee. If one employee has a problem, then he asked to other, but he
does not give clear solution to that problems. They are shows the facial

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expressions against each other.They are talk against each other in front of
me. So finally it is very needy for a public services organization to keep
atmosphere friendly among the management and employees.
2. Low Efficiency of employees:
Efficiency of employees is also low at this branch. For example Mr. Assad
Bhutta manager has 3 years experience at ACBL but he is not professional.
Where he assign the result is zero. During my internship no body was satisfy
from his performance.Sometimes he has done wrongly postings.

3. lack of computing skills:


Computing skills are also low, some executive are very efficient in computing
skills but some are not totally aware from this system. For example ATM
machine at this branch is only handled to Mr. Naeem Shehzad manager.
When operation manager is on leave branch faces problems about ATM
machine.

4. Misuse of resources:
Resource are very needy, so there must be avoid to misuse the resources but
in this branch it is reverse case, there is very wrong use of the resources,
employees does not take care of resources and not used them in right
direction. For example every person misuse telephone service even guards
they use it for personal matters.

NEW KNOWLEDGE ACQUIRED


During the internship there is practical knowledge acquired about the banking
sector. What activities are performed by banks and how to deal with public?
Also commitment about work and operations of banks. Financing and credits
and other public services are performed by the banks. What are
implementations of banking rules in banking sector? And much learn about
the various executive’s experiences and their skills. What is role of higher
authority (manager) in decision making and how to solve the problems? How

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much money or reserves are used to meet the requirements in the branch.
What are the duties of operation manager and how to pay cheques and all
procedure relating to opening account in the banks?

How Experience Impacts My Career


I have gained a lot from my internship.I am doing Specializaion in Finance
and in ACBL Bank I have learned a lot of work related with Finance .This
helps me a lot to complete my specialization.My communication and
negotiation skills are very much improved.How to Communicate with the
professional People.
ACBL is a very well known Bank and its products and services are very vast
and customers are very much satisfied with the Bank.Its a lerning
organization.ACBL is now emerging as one of the competitive banks in the
banking sector.Doing internship in Askari Commercial Banl also helps me a
lot for finding my job Inshallah in the future.

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SWOT ANALYSIS

SWOT (Strength, Weaknesses, Opportunities & Threats) analysis of


ACBL is described below:

Strengths:

 As ACBL pursuing the path of Excellence


customer satisfaction remains its priority. It is only when we know our
customers better, can we deliver a higher quality of services, thereby
adding synergy to our existing management expertise, financial
strength and profitability.
 Bank Chairman Message ”our core philosophy of honesty,
transparency in customer dealings, product innovation, excellence in
customer service and our commitment to being a responsible
corporate citizen”
 ACBL has got a well-developed on-line system in most of its branches.
Remittance Department is working very dfficiently in transferring the
funds of people due to this system.
 The bank has also started ATM facility in most of its branches. 24-hour
banking is new trend in Pakistan and ACBL has also taken apart in this
trend.

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 One distinctive feature of the bank is that it is the only bank working for
the welfare of army officers, which was established by Army Welfare
Trust.
 The productivity of the bank is very good. Bank is providing a high
quality service to its customers.
 Askari Commercial Bank developing & delivering the most innovative
products, manage customer experience, deliver quality service that
contribute to brand strength, establishes a competitive advantage and
enhances profitability, thus providing value to the stakeholders of the
bank.
 Most of the customers are satisfied with the bank services and friendly
environment of the bank.
 In comparison to other banks Askari Commercial Bank providing high
excellence services like home, car, agri-financing, which facilitate bank
to get market excellence and move towards prosperity and
development.
 Customer’s behavior shows that they feel proud to being as an account
holder in Askari Commercial Bank and also refer people to enjoy
different schemes and open their accounts.
 Customer gives suggestion for the improvement of bank and these
suggestions are listened carefully and communicated to the higher
management so that action taken on relative deficiencies immediately.
 Bank having good friendly environment, security system concentration
like cameras installed and security guards available all the time.
 ACBL have strength that most of the imports which are done in Multan
are handle by ACBL Multan.

Weaknesses:

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 ACBL has lesser number of branches as compared to many other


branches. Due to this problem, army officers can not avail the benefits
of their own bank.
 The human resource department is not performing the function of
selection and recruitment very effectively. Selection process is not on
merit due to which competent persons cannot be selected.
 The majority of people are not well aware about the products of Askari
Commercial Bank. Therefore it should advertise extensively especially
home, agri & car loans Credit Cards.
 Mismanagement of time is another big mistake in Askari Commercial
Bank branches, the bank official time of closing is 5:00pm but due
Mismanagement of time employees leave their desk at 8.00pm which
is so hectic and cause employee frustration.
 A behavior has been noted that bank tries to feel at ease with good
looking rich and educated people and the un-educated and old
customers feel some bit strange in the environment of the bank.
 Proper guideline should be given to the customer about bank products.
They facilitate with current information. Many of the customer’s
complaint that there should be two or more person who will guide
people at entrance where they have to move, concerned person and
department, teach how to fill forms, slips and cheques.
 The number of cash counter must be increased because the customer
have to wait at peak hours on the counter for deposit, withdrawals and
online.
 Bank is not introducing new products and new saying schemes. Bank
should boost the product development and increase the range of
facilities offered for customers.
 Bank is weak in its credit management. Bank should lend to very
sound parties and increase its payment rate.

Opportunities:

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 The policies of the new government to uplift the economy and pursue
financial sector reforms are expected to yield positive results in the
banking industry of the country. The Askari Commercial Bank is very
well praised to avail promising opportunities.
 Govt. is taking very bold steps to promote IT in Pakistan. ACBL has an
opportunity to improve in technology.
 Stock exchange is very volatile and takes immediate effect. So, in the
time of crises, conservative investors return to saving deposits.
 ACBL is surrounded by many competitors. It has an opportunity to do
aggressive marketing to increase its business.
 As a result of the different steps taken by the Government regarding
the betterment of the economy, small borrowers are attracted to get the
financing and start small businesses. So, the Askari Commercial Bank
has an opportunity to attract the customers by giving them attractive
schemes.
 The need of privatization has made people to switch to banks to satisfy
their needs of lending and borrowing. This not only increases the
deposits but also the credit business.
 Modernized banking system with highly integrated informative system,
record kept properly, online banking, and integrated circuits between
branches and personal computer provided at every desk.
 Higher management committed to the development, quality, and
continious improvement.
 Salaries are very reasonable, so the employees are not financially
disturbed and they devote theirselves fully to their work.
 Entertainment facilities are available in the Bank when customer goes
to the Bank for a longer time they will enjoy newspaper, magazines,
television and serve with tea, soft drink, sweets and snakes etc.

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Threats:

 Askari Commercial Bank has many competitors who are continuously


increasing their products and marketing aggressively it may cause its
customer to shift to its competitors. The Competition has become
severe by the entrants of so many banks, So to exist one will have to
prove himself in its services through excellent management and will
have to satisfy its shareholders. Otherwise it will be out of the market.
 The decrease purchasing power of consumer in the current economic
situation of the country affecting the business activity speed too much
and the result is the low investment from the investors in new projects
can create problem for the bank because it is working a lot in trade.
 The privatization of other banks is also a threat for the Bank. Due to
the privatization of the different bank e.g. MCB; the competition has
increased a lot. Furthermore many private banks have come in the
sector due to which it is becoming more difficult day by day to attract
the customers.
 Some other banks have competent taskforce, which is also a threat for
ACBL. Because human resource is the most valuable resource.
 The biggest threat in the banking sector is the continuous downfall of
the country economy since the last few years. If this downfall remains
for more few years then it may be the great hindrance in achieving the
Bank’s objectives.
 Pakistan India relations often create a war danger. This chance of war
may cause army officer and their families to increase the frequency of
withdrawals, which would decrease deposits.

CONCLUSION

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I observed the Askari Commercial bank a financially sound bank. Its profits
are increasingly year-by-year. Its staff is very good and sincere with the bank.
Askari Commercial Bank Multan under the leadership of Sajjad A Sheikh has
made significant progress in building and strengthening both the corporate
and retail banking sectors in Pakistan.
Askari Commercial Bank views specialization and service excellence as the
cornerstone of its strategy. The people at bank realize that innovation;
creativity, reliability, customized, services and their execution are they key
ingredients for their future growth.
Revenues from these activities have started yielding dividends and they
expect significant growth. They are aware that they have stepped into the 21st
century and they must meet its challenges by acquiring the highest level of
the technology. They will thus be accelerating their technological advance to
enable them to distribute their products and services through most efficient
and high tech means. They say that they will continue to invest in the modern
tools and substantial allocation to resources will be made to achieve this
objective during the current year. Online banking have been started and the
introduction of ATM at strategic locations have been firmed up.

RECOMMENDATIONS
This is the fact that in this universe nothing is perfect. In every field of life
there are some pluses and minuses. But the best institutions are those, which
learn from the changing environment and competition. So it is necessary for
them to keep them update with the changing environment.

Although ACBL Multan Branch is one of the good branches in Multan but
there are few points that should be improved for more perfection.

 Marketing department is very active but the feedback or the follow up


of the customers should be improved.

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 As every thing is computerized in ACBL Multan, the persons should be


properly trained in the computer systems.
 As we have discussed that this is one of the busy branch in Multan
market, its building is not as per the requirements of the branch. So the
building should be further expanded and there should be more space
for the sitting arrangements of the customers.
 The ATM service should be provided 24 hours. Because customers
feel upset when most of the times the machine is out of order.
 The staff should be decreased in Foreign exchange Dept.., Credit dept.
because the building under operation is in adequate for such a large
staff.
 Under no circumstances cheque book should be given to the customer
if the account formalities are incomplete
 Cheques, which are drawn on Askari Commercial Bank Branch and
returned unpaid in clearing, are not reflected in the statement of
account of the customers. These cheque must be reflected in the
accounts so that credibility of the customers may be assessed.

 Audit should be held internally, rather there should be an audit


department in the branches to make audit on daily basis. This can
become so, helpful as a different banks are having this department of
their own.
 When giving the loan, the Bank must carefully analyze the past six
months transaction history of the borrower. This will help in the
judgment of the dealing behavior and financial status of the client. In
most cases, this thing is not properly done and this is the major reason
for the default of many clients.
 The Bank should try to give more loans to the small borrowers as the
past history shows that most of the loans given to the corporate
borrowers have converted into bad debts
 Evening banking should also be started in this branch.

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Internship Report Askari Commercial Bank

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