Internship Report

Internship Report
Bank Of Punjab

Nabeel Shahzad
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In the name of Allah, the

most Merciful &
Beneficial,
The Master of Liberality & Beneficence,
The Gracious & Obligor,
The Granter of Peace & Security,
The Holy & above all Defects,
The Master of Wisdom & Manifestation,
The Master of Mercy & Satisfaction,
The Master of Argument & Proof,
The Master of Grandeur & Royalty,
The Kind & Helpful,
The Pardoner & Forgiver.....

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Acknowledgement

Thanks and again thanks to Allah Almighty, who pulled me

through the times when every stone was turned against me.
ALLAH and only ALLAH dawned new horizons for me when the
darkest fog made me blind, who really the Best Manager of the
entire universe. Without His consent, nothing is possible. Thank
You ALLAH Almighty.
Thanks from the recesses of my heart to the Most Respected
Teacher

Prof.Usman Ali Ch. for his untiring efforts, His valuable

guidance and precious advices are rare Assets for me.
Many people contributed ideas, samples and advice, so many
in fact that it is simply not easy to name them all. Therefore, I
wish to thank here the members of my family and who had to
endure the most during the preparation of this report, which
took place at odd hours of the early mornings, late nights, and
weekends. I also offer heartiest thanks to all the persons who
guided me and encouraged to complete this tough task
successfully.

I Offer My special Thanks to the members of Bank of

Punjab for their cooperation and giving me some moments
from their Precious Time.

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Dedicated
To:

My Loving Parents & Honorable Teachers

Whose,
Love, Affection, Motivation, Patience, Support
&
Spiritual Inspirational
Give Me Encouragement,
To all those People who have quenched for Knowledge,
To all those who have dedicated their lives to others,
To all of those who have served and sacrificed for
Sake of Freedom
To all of those people, who may be gone now,

But they will never be Forgotten....

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INTERNSHIP REPORT ON THE BANK OF PUNJAB

Submitted by: Nabeel Shahzad

Class: MBA 3 years

Submitted to: Halley college of Banking and finance

Supervisor: Prof. Usman Ali Ch.

College Roll no: 038

Specialization: Finance
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INSTITUTE:

NOBLE COLLEGE OF BUSINESS

ADMINISTRATION LAHORE

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Executive Summary
As we know that Bank of Punjab is the largest bank of the
Pakistan. Thus this report is being to write on Bank of the
Punjab. Report will touch the banking sector importantly on Bop
its origin, and operation, how the banks are classified based on
their function, and so the property and follow trends in the
industry.
In addition to the above, this report focuses on the BOP to be
more precise and discussing the internal details of the bank
located in Shad Bagh Lahore. The main purpose of this report
is to analysis the BOP Marketing Strategy, BOP Marketing
Segmentation, Sales Promotion, BOP Customers handling, so
it is major part of my report.
Other portion like BOP History, BOP Department information,
also included. The report further guides through the department
and working of the general banking. The activities taking place
in the bank, the various products of banking are discussed in
thereport.
The workings of the different departments are done under one
roof of BOP. I have worked in the BOP Branch at Shad Bagh
Lahore in under below Department.

1.AccountOpeningDepartment
2.RemittanceDepartment
4.AccountDepartment

you will able to read all my tasks, which I performed in the

entire above department in the next coming pages

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Table Of Contents

INTERNSHIP REPORT ON THE BANK OF PUNJAB 5

ARTICLE I. EXECUTIVE SUMMARY ERROR! BOOKMARK NOT DEFINED.

ARTICLE II. CHAPTER 1: 10

Section 2.01 Introduction of Banking 10

(a) History of Banking 10

ARTICLE III. CHAPTER 2: 12

Section 3.01 Nature of the organization 12

(a) History of bank of Punjab 13
(b) Scope of Bank 14
(c) Awards & Achievements 14

Section 3.02 ORGANIZATIONAL HIERARCHY CHART 22

(a) Major Customers of BOP 23
(b) Competitors 23
(c) Product & Services 23
(d) Agriculture Credit 25
(e) Trade Finance 25

Section 3.03 Introduction to BOP Islamic Banking 26

ARTICLE IV. CHAPTER 3: 28

Section 4.01 My Assignment During Internship: 28

Section 4.02 Problems during my Internship 34

ARTICLE V. CHAPTER 4: 34

Section 5.01 FINANCIAL AND BUSINESS ANALYSIS 35

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER

31, 2014 35

CONSOLIDATED PROFIT AND LOSS ACCOUNT 36

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 38

CONSOLIDATED CASH FLOW STATEMENT 39

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Section 5.02 Islamic Banking Business 52

Section 5.03 sTATEMENT OF fINANCIAL pOSITION 53

Section 5.04 Islamic Banking Business profit and loss account 54

Section 5.05 FINANCIAL ANALYSIS 55

Trend Analysis 58

Section 5.06 Ratio analysis: 60

Section 5.07 Auditors Report to the Members 66

ARTICLE VI. CHAPTER 5: 68

Section 6.01 SWOT ANALYSIS 68

Section 6.02 PEST ANALYSIS 72

ARTICLE VII. CHAPTER 6: 76

Section 7.01 RECOMMENDATIONS Error! Bookmark not defined.

ARTICLE VIII. CHAPTER 7: 79

Section 8.01 Conclusion 79

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CHAPTER 1:
Introduction of Banking

History of Banking:
The word banking is derived from the word bancus, banque or back.
The history of banking is traced to as early as 2000BC. The origin of
banking is also traced to early goldsmiths. The first stage in the
development of modern banking thus was the accepting of deposits of
cash from these persons who had surplus money with themselves. In the
second step, goldsmiths used issued receipts for the money deposits
with them. These receipts began to pars from hand to hand in settlement
of transaction.

The 1st central bank was formed in Genoa in 1587. Bank of England
established in 1964. With the passage of time the activities of the
commercial banks have greatly increased. They now deal with large
number of matters such as obtaining funds, advancing loans to
businesses, farmers, householders, and making investment in stocks
discount bill of exchange etc.

Banking History in Pakistan

At the time of partition banking sector of Pakistan was in miserable

condition but with passage of time it grew very rapidly. At the time of
partition, there were 631 branches of scheduled banks in Pakistan (487
in West Pakistan & 144 in East Pakistan). But just after the
independence, India started the political and financial confrontation.

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Most of the banks transferred their offices to India. Up to 30th June

1948the offices and branches of scheduled banks in Pakistan reduced to
195(81 in West Pakistan &114 in East Pakistan). State Bank of Pakistan
was established on first July 1948 inaugurated by Quaid-i-Azam
Muhammad Ali Jinnah. NBP (National Bank of Pakistan) was
established as a representative of SBP on 8th November, 1949

Total Banks in Pakistan:

There are seven types of banks in Pakistan namely, Public sector banks,
Islamic Banks, Private Banks, Foreign Banks, Development Financial
Institutions, Specialized Banks and Micro Finance Banks. These Banks
are doing Corporate Banking, Trade Financing, Lease Financing and
providing online banking facilities, ATM facility and money transfer
facilities also. Under these seven categories there are 54 Banks and
more than 10000 branches in Pakistan. Banks are providing Banking
facilities to their customers and clients by offering different services.

PUBLIC SECTOR BANKS

FIRST WOMEN BANK LIMITED
THE BANK OF KHYBER
NATIONAL BANK OF PAKISTAN
THE BANK OF PUNJAB
SINDH BANK LIMITED

ISLAMIC BANKS
BANKISLAMI PAKISTAN LIMITED
ALBARAKA BANK (PAKISTAN) LIMITED
BURJ BANK LIMITED
MEEZAN BANK LIMITED
DUBAI ISLAMIC BANK

PRIVATE BANKS
SAMBA BANK LIMITEDJS BANK LIMITED
ALLIED BANK LIMITED
KASB BANK LIMITED
SUMMIT BANK LIMITED
MCB BANK LIMITED
ASKARI BANK LIMITED
NIB BANK LIMITED
BANK ALFALAH LIMITED
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SILK BANK LIMITED

BANK AL HABIB LIMITED
SONERI BANK LIMITED
STANDARD CHARTERED BANK (PAKISTAN) LIMITED
FAYSAL BANK LIMITED
UNITED BANK LIMITED
HABIB BANK LIMITED
HABIB METROPOLITAN BANK LIMITED

DEVELOPMENT FINANCIAL INSTITUTIONS

HOUSE BUILDING FINANCE CORPORATION
PAKISTAN KUWAIT INVESTMENT COMPANY LIMITED
PAK BRUNEI INVESTMENT COMPANY LIMITED
PAK OMAN INVESTMENT COMPANY LIMITED\
PAK IRAN JOINT INVESTMENT COMPANY

SPECIALIZED BANKS
INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN
THE PUNJAB PROVINCIAL COOPERATIVE BANK LTD
SME BANK LIMITED
ZARAI TARAQIATI BANK LIMITED

MICRO FINANCE BANKS / INSTITUTIONS

KHUSHHALI BANK LIMITED
TAMEER MICRO FINANCE BANK LIMITED
PAK OMAN MICROFINANCE BANK LIMITED
THE FIRST MICRO FINANCE BANK LIMITED

CHAPTER 2:
Nature of the organization:
A unit of service industry of Pakistan, BOP (commercial bank) is
engaged in the borrowing, lending and advancing of money, the
drawing, making, accepting, discounting, buying, selling, collecting and
dealing in bills of exchange, promissory notes, drafts, bills of lading,
receipts, warrants, debentures, certificates etc.
It is also engaged in the buying, selling of foreign exchange including
foreign bank notes, the acquiring ,holding, issuing on commission ,
underwriting and dealing in stocks, funds, shares, debentures, the
negotiating of loans and advances , the receiving of all kinds of bonds,
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valuables on deposit or for safe custody.

The providing of safe deposit vaults the collecting, and transmitting of
money and securities. Over the years, the management has succeeded
in establishing an ideological base for the employees to build the bank
upon customer loyalty, service with dedication and development of a
wide range of products for the customers to choose from.

History of bank of Punjab

The Bank of Punjab was established in 16 November 1989,
according to The Bank of Punjab Act 1989 and was given the
status of a retail bank in 1994. The Bank of Punjab is a
Pakistani bank headquartered at BOP Tower, Main Boulevard,
Gulberg Lahore in Pakistan. It serves Pakistan and functions as
an international bank. The Bank of Punjab was founded by
Tajammal Hussain and it functions as a scheduled commercial
bank, with a network of 405 branches in major business centers
throughout the country. This Bank continued the strategy of
growth and to extend the outreach to every corner of the
country, 58 new branches were opened during the year 2015 .It
is the 7th largest commercial bank of the Country. It provides a
wide range of banking services including deposit in (local
currency and foreign currency) remittances, online deposit and
ATMs services, and advances to business etc. The Bank
continues to improve and secure its IT related technologies. All
branches of the Bank are linked with online connectivity.
Besides offering withdrawal facility through 205 ATM network,
Inter Bank Fund Transfer Facility has been made available.
During the year 2015, The Bank of Punjab entered into a new
era by introducing Islamic Banking Operations and successfully
launched Debit MasterCard product with features of Point of
Sale Transactions (POS) and withdrawal through local and
international ATMs. Moreover, the Bank of Punjab has played a
vital role in the economy and almost provides all necessary

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banking services to their clients. For more facilitate their

customers the Bank of Punjab provides the SMS ALERT and
E-statement services to their clients according to the modern
requirements. Now, The Bank of Punjab would continue to
follow comprehensive strategies of business, expansion,
improvement in quality assets, Procurement of low cost
deposits, strengthening of internal controls, bringing efficiency
to control costs, rebuilding of brand image and strengthening
the capital base during the year 2015-2016.

Scope of Bank

Being a commercial Bank, The Bank of Punjab performs all such

functions as are attributed to commercial banking institution both in
the area of resource mobilization, loans, and investment. The Bank
is thus providing all type of advances to business, trade, and
industry on seasonal and annual basis, and is ensuring, through the
prudent policy, the safety and protection of its loan portfolios, as the
resources base of the Bank expands , project financing will also be
brought into its fold.

Achievements

Excellence Award by the Central Board of Revenue

The central Board of Revenue presented "Excellence Award" to the

Bank of Punjab in recognition of the contribution made by the bank
toward Government exchequer.
Best Corporate Report Award

Annual Report of the Bank for the year 2005 won 5th position for
"The Best Corporate Report Award" for the Financial sectory,
adjudicated jointly by the Institute of Chartered Accountants of

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Pakistan and the Institute of Cost and Management Accountants of

Pakistan.

Achievement Award
The Lahore Chamber of Commerce & Industry awarded the Bank
"LCCI Achievement Award " 2006.

Vision and Mission Statement:

Vision:
To be a customer focused bank with service excellence.

Mission:

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To exceed the expectation of our stakeholders by leveraging our

relationship with the Government of Punjab and delivering a complete
range of professional solutions with a focus on programmer driven
products and services in the agriculture and middle tier markets through
a motivated team.

Core values

Our Customers:
As our first priority
Profitability:
For the prosperity of our stakeholders that allows us to constantly
invest, improve and succeed
Corporate Social Responsibility:
To enrich the Lives of community where we operate
Recognition and Reward:
For the talented and high performing employee
Excellence:
In everything we do
Integrity:
In all our dealings

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Financial Highlights(March 2016)

Rs. in Million

Profit after taxation 2,787

Accumulated losses b/f (11,251)

Transfer from surplus on revaluation of fixed assets (net of tax) 10

Transfer from surplus on revaluation of fixed assets on disposal (1)

Transfer to statutory reserve (557)

Actuarial gains on re-measurement recognized 3 (104)

Right shares issue cost

Accumulated losses c/f (9,113)

Earnings per share-Rupees 1.94

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Financial Performance of The Bank of Punjab

Balance Sheet 2014 2013 2012 2011 2010 Criteria

Total Assets 420,370 352,698 332,111 280,998 229,190 Rs in m

Advance (net) 170,313 157,286 149,605 127,130 120,818 Rs in m

Investments 154,875 123,956 129,519 92,581 56,403 Rs in m

Shareholders Equity 15,256 12,577 10,733 10,135 2,947 Rs in m

Revaluation Reserve 4,071 905 1,638 638 721 Rs in m

Deposits 342,291 306,561 266,056 237,897 208,177 Rs in m

Borrowings 44,743 22,802 44,684 24,964 11,527 Rs in m

OPERATINRESULTS
Markup/ return/ interest earned 29,522 24,228 24,666 20,685 18,220 Rs in m
Markup/ return/ interest
expenses 20,526 20,209 22,523 21,073 18,802 Rs in m
Net markup income 8,996 Rs in m

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4,019 2,143 (388) (582)

Non-markup based income 2,790 3,596 3,191 1,990 1,883 Rs in m

Non-markup based expenses 6,250 5,280 4,558 3,711 4,168 Rs in m

Provision against NPLs 1,119 (673) (965) (3,164) 560 Rs in m

Net profit/(Loss) before tax 4,307 3,001 1,404 523 (6,186) Rs in m

Net profit/(Loss) after tax 2,787 1,938 1,634 348 (4,029) Rs in m

Other Information:
Rs. per
EPS (Non-dilutive) 1.94 2.36 2.63 0.66 (7.62) share
Dividend - Cash - - - - - %
Dividend - Bonus issue-
Interim - - - - - %
- Bonus issue-Final - - - - - %
No. of branches 364 334 306 284 273 No.
Staff Strength 6,180 6,092 5,491 4,999 4,464 No.
Rs. per
Breakup value per share* 6.77 5.58 4.82 4.55 1.93 share

Reason for choosing The BANK OF PUNJAB for my internship:

Practical life is totally different from the study life. Therefore, many
universities are required to complete an internship before graduation or
master degrees for the purpose to realize the practical life and learning
opportunities outside the classroom. To meet this requirement I was
going for internship and select a bank which name is Bank of Punjab.
The basic reason for selection of this bank is that I have the reference
for this bank and it is near to house. Another reason is that bank sector
is grow rapidly in Pakistan and play a vital role in our economy and I
want to see natural environment of banking sector and its wide range of
activities. Therefore, I select internship in banking sector.

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NATURE OF THE ORGANIZATION:

A unit of service industry of Pakistan, BOP (commercial bank) is
engaged in the borrowing, lending and advancing of money, promissory
notes, drafts, bills of lading, receipts, remittance, bonds, certificates etc.
It is also engaged in the buying, selling of foreign exchange including
foreign bank notes, the acquiring ,holding, issuing on commission ,
underwriting and dealing in stocks, funds, shares, debentures, the
negotiating of loans and advances , the receiving of all kinds of bonds,
valuables on deposit or for safe custody. The providing of safe deposit
vaults the collecting, and transmitting of money and securities.

Board of Directors:

Mr. Ghafoor Mirza Chairman

Mr. Naeemuddin Khan President/CEO
Mr. Javaid Aslam Director
Mr. Mohammad Jehanzed Khan Director
Mr. Tariq Mahmood Pasha Director
Mr. Khawaja Farooq Saeed Director
Mr. Saeed Anwar Director
Dr. Umar Saif Director
Syed Maratib Ali Director
Mr. Raza Saeed Secretary to the Board

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Central Audit Committee (CAC):

Khawaja Farooq Saeed Chairman

Mr.Tariq Mahmood Pasha Member
Mr. Saeed Anwar Member

Board Risk Management Committee (BRMC)

Syed Maratib Ali Chairman

Mr. Tariq Mahmood Pasha Member
Mr. Saeed Anwar Member

Human Resource & Remuneration Committee

(HR&RC)
Mr. Mohammad Jehanzeb Khan Chairman
Khawaja Farooq Saeed Member
Dr. Umar Saif Member
Mr. Naeemuddin Khan Ex-officio Member

Auditors

M. Yousuf Adil Saleem & Co. Chartered Accountants

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ORGANIZATIONAL HIERARCHY CHART

Chairman

Board of Directors

Chief Executive Officer

Executive Committee

Executive in charges

Area Manager North Area Manager South

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Major Customers of BOP

Educational Institutions
Agriculturists
Pakistan telecommunication private limited
WAPDA
Pharmaceutical companies
WASA
MDA
TMA

Competitors
The competitors of the Bank of Punjab are the other commercial
banks in Pakistan such as:

Habib Bank Limited

Summit Bank
Al Baraka Bank
Faysal Bank Limited
Bank Al-Habib Limited
Meezan Bank
Standard Chartered Bank Limited
Allied Bank Limited
Askari Bank Limited
Habib Metropolitan Bank Limited
MCB Limited
Soneri Bank Limited
Dubai Bank Islam

Product & Services

Current Deposits

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Current Account
Saving Account
Basic Banking Account
Local Currency Account (LCY)
Supreme Current Account (FCY)
Young loin Saving Account ( New Product 2010)

Saving Deposits
PLS Saving Account
Senior Citizen Account
Gharayloo Saving Account
Behtreen Munafa Saving Account
Corporate Premium Account
Supreme Saving Account (PLS)
Supreme Saving Account (FCY)
Youth Lion Saving Account

Term Deposits
Kissan Dost Term Deposit
Bai Missaal Term Deposit.
Pahlay Munafa Scheme
Munafa Hi Munafa Term Account

Commercial Finance
Apna Rozgar Scheme
Car Lease CarGar

Electronic Banking
Visa Debit Card
Internet Banking
ATM
Call Center
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Services
ATM
SMS Alert
Remittance
Online banking
Lockers
Collection of utilities bill
Demand draft

Agriculture Credit

Agriculture credit is provided to the farmers and livestock organizations.

Bank of Punjab provides following agriculture loans with a specific
markup rate:

Agri Finance Branches

Kissan Dost Running Finance Facility
Kissan Dost lease Finance Facility
Kissan Dost Cold Storage Facility
Kissan Dost Green House Finance Scheme
Kissan Dost Livestock Development Scheme
Trade Finance
Trade finance is a loan provided to the importers and exporters to make
their transaction effective. This enhances the global business. The Bank
of Punjab makes some trade processing centers to cooperate the
exporters and also to the importers in different cities of Pakistan.

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Introduction to BOP Islamic Banking

Current Account

The Bank of Punjab accepts deposits from its customers on the basis of
Qarda-e-Hasa. These account holders do not participate/share in profit
and loss and can withdraw their funds any time without any prior notice
to the Bank whereas Bank is liable to pay them on demand.

PLS Saving Account

The Bank of Punjab accepts deposits from the customers on the basis of
Mudaraba. PLS Saving Accounts are maintained on the basis of profit/
loss sharing and are free of Riba. Profit is distributed to customers
periodically and calculated on daily product basis.

Riba Free Certificates (RFCs)

The Bank of Punjab issues these certificates on the basis of Mudaraba.
Principles of these certificates will be the same as principles of PLS
Account. i.e. bank accepts deposits from customers and issues Riba
Free Certificates. However deposit will be received for a fixed tenor. On
the basis of tenor and profit/loss distribution, certificates will be classified
into different categories. Details can be obtained from the branch
manager.

Loss Sharing

The Bank of Punjab accepts deposits from its customers on the

basis of Mudaraba. According to the Shariah, the customer (Rab Ul
Mal) is liable to bear the losses, however Bank also shares the loss in
proportion to its share in the investment pool, if any.

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Determination of Rate of Profit

Deposits are placed in a pool or different pools and a profit ratio is

determined between the Bank and the pool/s which is declared at the
beginning of every month. At the end of every month, profit is distributed
amongst the depositors after deduction of the Mudarib (Bank)s share.
The actual distribution of profit amongst the depositors is based on
weighted averages assigned to different deposits; these weight ages are
declared at the beginning of every month by the Bank and are displayed
on the notice boards of Bank branches and on the Banks official
website.

Protecting Depositors Deposit

The Bank invests the customer funds in Shariah Compliant avenues to
earn Halal Profit. These funds are placed/invested carefully and
diligently in secure and Shariah Complaint investment avenues. The
Bank has deployed professionally trained and dedicated team to safe
guard the investment of the customers.
Shariah supervision in the Bank

All Islamic banking branches in the Bank are managed by the Islamic
Banking Division of the Bank. All transactions in the Islamic banking
branches and in the Islamic Banking Division are conducted in
accordance with the principles of Shariah. The Banks accounts are
subject to Shariah Audit and there is a system in place for Shariah
compliance. The Bank has appointed a Shariah Advisor, to ensure
Shariah Compliance in all transactions pertaining to Islamic banking
branches and the Islamic Banking Division.

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CHAPTER 3:

My Assignment During Internship

My internship is started from the 6th July to 16 August 2017 in Bank of

Punjab New Muslim Town Branch Lahore.My duties during the
internship in Bank of Punjab are given below.

Filling of Account Opening Form

Photocopy of relevant documents of bank

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Cheque Book Working

Filling of Deposit Slips and Cheques

Account Opening Form means the form prescribed by the Bank, as

modified or amended from time to time, which is to be completed by the
customer for opening an account. When any person wants to open an
account in the Bank of Punjab then this form is given to him/her for
completion of necessary data information and after that signed by
account holder at necessary places of that Form.

Completion of account opening form

After completion of account opening form in its all aspects is
checked by account opening officer and signed by him/her.
Moreover, it is sent operation manager for further verification and
signed by him/her.

Specimen Signature Card (SSC)

Ss card is very important and necessary document of bank for
opening an account. Without getting signatures of client any bank
cannot open the account. For Single Account holder two signatures
on SSCard and for joint Account four signatures getting by clients
on SSCard. One card scan and send to head office and other
attach with form.

Account holder verification through internet

The bank officer connected via internet to the various websites to
meet the necessary requirement for Account Opening. There are
following sites link with The Bank of Punjab:
1. NADRA
2. NAB
3. OFAK

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NADRA website checks the record of his/her clients social life

and gets its NADRA VERTIFICATION CNIC DOUCMENT. If the
record of the person is Ok, then the officer of the bank
authenticates the record of person under his signature and
stamp and sends it to the Branch Operational Manager.

NAB website checks the criminal record of banks client within

the Pakistan. If the record of the person is OK, then the officer of
the bank authenticates the record of person under his signature
and stamp and sends it to the Branch Operational Manager.

OFAK website checks the criminal record of banks customer

outside the Pakistan. If the record of the person is OK, then the
officer of the bank authenticates the record of person under his
signature and stamp and sends it to the Branch Operational
Manager.
After completion of all procedures, the bank prepares a letter of
thanks and sends it to the client at his/her postal address and
request to customer to come in bank and gets his account number.

Photocopy of relevant documents of bank

Documents are very important and necessary items for the banking
sector. Because it is used as an evidence in banking sector. And
photocopy of CNIC card and other relevant documents is also used as
evidence purpose. So I am also learning how to photocopy the banks
relevant documents like CNIC during my internship.

Cheque book working :

Applications for issuance of cheque books should be made on
prescribed cheque book requisition slip and thereafter for further

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issuance of cheque books on the requisition slip inserted in the cheque

book already issued. Where a person is sent to take delivery of a
cheque book on behalf of the account holder, such person must be in
possession of his/her of CNIC and attested copy (for Banks record) and
written authority from the account holder, containing signatures of the
bearer duly attested by the account holder.

Filling of deposit slip and cheques (if any)

Fill of deposit slip and cheques is a routine work in every bank. There
are following things involves during filling the deposit slip;

1. Date
2. Account title
3. Account no.
4. Amount.
5. Mode of collection
6. Signature of clients

For filling the cheques following things must be involves.

1. Date
2. Pay (Account title or self)
3. Amount in figure and digits.
4. Signature of clients (thumb expression in case of photo shoot
account)

OTHER DEPARTMENTS

CLEARING DEPARTMENT:

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The mechanism and system of obtaining the process of cheques and

other instruments deposited by the customer drawn on other banks
within the city/clearing network.

TYPES of CLEARING:

1. Inward Clearing
2. Outward Clearing
In clearing department the cheques of BOP and other banks are
presented for clearing through NIFT. The bank collects money on behalf
of its customer and deposits it in its customer account. A separate
clearing register is maintained on daily basis to record all the
transactions.

1. In ward clearing:
In inward clearing the cheques of BOP is presented in other bank and
it is received by the BOP through NIFT for clearing.

2. Outward clearing:
In out ward clearing the cheques of other banks are presented in the
BOP by its customer for clearing.
a) CASH DEPARTMENT

Cash department deals with

Cash Receipts
Cash Payments
Utility Bills Collection

Cash department is the backbone of the bank. As all banking

business is based on cash. Cash receipts include customer
deposits, payments include cash withdrawals and utility bills include
telephone, gas, electricity and other bills collection.

REMITTANCE:
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Remittance department perform the function of sent and receive of

money. With the help of remittance a client can be transfer his/her
funds anywhere in the world and at home. There are many codes
are used for transfer of funds.
Bank of Punjab transfer money from one place to another place by
way of:
Demand Draft
Pay Order
Telegraphic Transfer
Mail Transfer
Online Transfer
BOP Remittance Service offers you two ways of receiving
money:

1) Account to Account Transfer:

Same day credit to BOP's Account holders

Fast, prompt and hassle free funds transfer
Free of charge
Requirements: Complete BOP's account number.
2) Cash Payment

Receiver's account in BOP is not required

Instant cash payment of up to Rs. 500,000/- can be made to
the beneficiary at any branch
Fast and hassle-free service

Bank Staff Information Designation

I. Mr. Sadiq Butt Branch Manager

II. Mr. Usman Parvaiz Operation Manager
III. Miss Ayesha Javaid Clearing Officer
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IV. Mr. Zeeshan Afzal Teller

V. Mr. Anwar Ali Marketing

Probihitions during my Internship

The work on the computers of the bank was not allowed to
me.
I cannot personally debit and credit any account.
Work on the cash counter was not allowed to me.
Show the secret accounts of the different customers was also
prohibited.
Show bad behavior with any customer of the bank is also
Prohibited

CHAPTER 4:

34
 `

FINANCIAL AND BUSINESS ANALYSIS

Consolidated Statement of Financial Position

as at December 31, 2014

2013 2014
Rupees in '000'

Assets
Cash and balances with treasury banks 23820864 23622411
Balances with other banks 4265296 2239170
Lendings to financial institutions 11407448 32748623
Investments net 123973891 154943890
Advance net 157239598 170273415
Operation fixed assets 3514801 5490121
Deferred tax assets net 12627352 9845426
Other assets -net 15825007 21237382

352674257
420400438
Liabilities
Bills Payable 1506335 1727731
Borrowings 22802482 44742624
Deposits and other accounts 306560694 342290693
Sub-ordinated loans --------------- 2000000
Liabilities against assets subject to finance lease 2386 1128
Deferred tax liabilities net --------------- -------------
Other liabilities 8345203 10281610

339217100 401043786
NET ASSETS 13457157 19356652
REPRESENTED BY
35
 `

Share capital 10551132 15551132

Discount on issue of shares (263158) (263158)
Reserves 1539659 7000000
Accumulated losses (11275026) (9083209)
12000000 15286008
Surplus on revaluation of assets net 12552607 4070644
13457157 19356652

Consolidated profit and loss account

For the year ended December 31, 2013
2013 2014
Mark-up /return/ interest earn 24223658
29517673
Mark-up/return / interest expense 20208687
20525783
Net mark-up/ interest income 4014971
8991890

(Reversal of provision against non-performing (673081) 1118605

loans and advance net)
Provision for diminution in the value of 21940 59494
investment net
Bad debts written off directly 241 -----
(650900)
1178099
Net mark-up /interest income after provision 4665871
7813791

755622 909596
137512 39918
147417 183830
1391874 667322
(4296) (654)

11487797

36
 `

Non Mark - Up/Interest income 1000173

Fee, commission and brokerage income
dividend income
Income form dealing in foreign currencies
Gain on sale and redemption of securities net
(Unrealized (loss) /gain on revaluation of investments classified
as held for trading)
Other income
Total non-markup /interest income 3596926
2800185
8262797
10613976
Non Mark - Up/Interest Expense
Administrative expenses 5204409 6217344
Provision against other assets 32945 (2416)
Provision against off balance sheet obligations 325 17875
Other charges 47123 19727
Total non-markup/interest expense 5284804
6252530
2977995
4361446
Extra ordinary /unusual items - -
Profit Before taxation 2977995
4361446
Taxation current year 278239 323818
- Prior year - -
- Deferred 785036 1196093

1063275
1519911

(11275026)
9858

(980)

37
 `

Profit After taxation 1914720 (557490)

2841535 2514
Accumulated losses brought forward (12743218) 103620
(Transfer from surplus on revaluation of 10352
fixed asset net of tax)
(Transfer from surplus on revaluation of 814
fixed asset on capital)
Transfer to statutory reserve (387601)
Actuarial gains on remeasurement recognized 8391
Right shares issue cost (78484)

(13189746)
(11924744)
Accumulated losses carried forward (11275026)
(9083209)
Basic Earnings per share Rupees 2.33
1.97
Diluted Earnings per share Rupees 2.33
1.97

Consolidated Statement of Comprehensive income

As the year ended December 31, 2014

2013 2014

Profit after taxation for the year 1314720

2841535

(Other comprehensive income not to be reclassified

to profit and loss account in subsequent periods: )
(Actuarial gains on premeasurement recognized during 8391
2514
the year)
38
 `

Total Comprehensive income 1923111

2844049
Consolidated Cash Flow Statement
As the year ended December 31, 2014
2013 2014

Cash Flows from Operating Activities

Profit before Taxation 2977995
4361446
Less: Dividend income (137512)
(39918)
2840483
4321528
Adjustments for:
Depreciation 328857 369642
Amortization on intangible assets 2622 28219
Amortization of premium / (discount) on 32518 4561
Pakistan Investment bonds
Unrealized loss / (gain) on revaluation of 4296 654
Investment classified as held for trading
Reversal of provision against (673081) (176076)
non-performing loans and advances-net
Bad debts written off directly 241 -
Provision for diminution in the value 21940 59494
of investment-net
Provision for employees compensated absences 16558 14105
Provision for gratuity 79861 78904
Provision against other assets 32945 (2416)
Reversal of provision for workers welfare fund - -
Provision against off balance sheet obligations 325 17875
Net profit on sale of property and equipment (59167) (21459)
Net profit on sale of non-banking assets acquired (527751) (82652)
In satisfaction of claims
Gain on sale and redemption of securities (1391874) (667322)
Finance charges on leased assets 275 152

39
 `

(2131435)
742286

709048
5063814

(Increase)/decrease in operating assets:

Lendings to financial institutions (9044502) (21541175)
Net investments in held for trading securities 3369266 9801418
Advances net (7036248) (14196547)
Others assets net (3381856) (6197106)

(160936340)
(32133410)
Increase/(decrease) in operating liabilities:
Bills payable 5626 221396
Borrowings (21911655) 21878241
Deposits and other accounts 40504933 35729999
Other liabilities 760922 1828037
1828037
19359826
59657673
3975534
32588077
Financial charges paid (275) (152)
Income tax paid (243650)
(237144)
Net cast flow from operating activities 3731609
32350781
Cash flows from Investing activities
Net investments in available for sale securities 1884181 (23329952)
Net investments in held to maturity securities 593308
Dividends received 142068 13651866
Investment in operating fixed assets (505963) 39543
Sale proceeds of property and equipment
192341 (568653)
disposed-off
58994
40
2498583 719551
510412
 `

Sale proceeds of non-banking assets

disposed -off
Net cash flow from /(used in) investing activities 4804518
(36732383)
Cash Flows from financing Activities
Payment of lease obligations (1215) (1258)
Right shares issue cost (78484) 2000000
Net cash used in financing activities (79699)
(1895122)
Net increase / (decrease) in cash and 8456428 (2486480)
cash equivalents
Cash and Cash equivalents at beginning 20398252 28854680
of the year
Cash and cash equivalents at end of the year 28854680 26368200

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the year ended December 31, 2014
Share discount
Statutory
Capital on issue
reserve
Of shares
Balance as at January 01, 2014 5287974 -
396364
Transfer from surplus on revaluation of - -
-
Fixed assets to accumulated losses-net of tax
Transfer form surplus on revaluation of - -
-
Fixed assets to accumulated losses on disposal
Total comprehensive income for the year - -
-
Ended December 31, 2014
Transfer from restructuring reserve against NPLs - -
-
Transfer to statutory reserve - -
387601

41
 `

Balance as at December 31, 2014 5287974 -

396364
Transfer from surplus on revaluation Of - -
-
fixed assets to accumulated lossesnet of loss
Transfer from surplus on revaluation of fixed - -
-
Assets to accumulated losses on disposal
Total comprehensive income for the year - -
-
Ended December 31, 2014
Transfer form restructuring reserve against NPLs - -
-
Transfer to statutory reserve - -
387601
Transaction with owners, recorded directly in equity
Issue of right shares during the year 5263158 - -
Discount on issue of shares - (263158) -
Right shares issue cost - - -

5263158 (263158) -
Balance as at December 31,2014 1055132 (263158)
783965

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the year ended December 31, 2014
Capital Reserve Revenue
Reserve
Share Restructuring Accumulated
Premium reserve losses
Total

Balance as at January 01, 2014 37882 1807479 (14179410)

(6976480)
Transfer from surplus on revaluation Of - - 110604
110604
Fixed assets to accumulated losses-net of tax
Transfer form surplus on revaluation of - - 6801
6801
Fixed assets to accumulated losses on disposal

42
 `

Total comprehensive income for the year - - 1744556

1744556
Ended December 31, 2014
Transfer from restructuring reserve against NPLs - (1054292) -
(1054292)
Transfer to statutory reserve - - (326769)
-
Balance as at December 31, 2014 10551132 (263158) (11275026)
12552607
Transfer from surplus on revaluation Of - - 10352
1035
fixed assets to accumulated lossesnet of loss
Transfer from surplus on revaluation of fixed - - 814
814
Assets to accumulated losses on disposal
Total comprehensive income for the year - - 1923111
1923111
Ended December 31, 2014
Transfer form restructuring reserve against NPLs - (35375) -
(35375)
Transfer to statutory reserve - - (387601) -
Transaction with owners, recorded directly in equity
Issue of right shares during the year
- - - 5263158
Discount on issue of shares
Right shares issue cost - - - (263158)
- - (78484) (78484)
- - ))))) (78484)
4921516
Balance as at December 31, 2014 15551132 (263158) (9083209)
15286008

43
 `

2013 2014
Cash And Balances with Treasury Banks

In hand:
- Local currency (1) 4300888 4325393
- Foreign currencies 681826 640574

4982714
4965967

With state Bank of Pakistan (SBP) in:

- Local currency current account (2) 12369181 10362611

- Foreign currency deposit account(3)
- Non remunerative 297542 353701
- Remunerative(4) 893182 1060609

13559905 1776921

With National Bank of Pakistan (NBP) in:

- Local currency current account 6879523

5278245
- Local currency deposit account -
-
5278245 6879523

23820864 23622411

NOTES:

This includes National Prize Bonds of Rs. 33,027 thousand {2013: Rs. 42,091
thousand} (1)
This represents current account maintained with the SBP under the
44
 `

requirements of section 22 Cash Reserve Requirement of the Banking

Companies Ordinance, 1962. (2)
These represent mandatory reserves maintained in respect of foreign
currency deposits under FE-25 scheme, as prescribed by the SBP. (3)
This carries mark-up as announced by the SBP on monthly basis.(4)

2013 2014
Balances with Other Banks
IN PAKISTAN
- On current account 2057116 1884942
159100 82586
- On deposit account (1)
2216216 1967528

OUTSIDE PAKISTAN

- On current account 418359 106226

- On deposit account (2) 1630721 165416

2049080 271642

4265296 2239170

Notes

These carry mark-up at rates ranging from 6.00% to 7.15% per annum (2013: 6.0% to
8.0% per annum) (1)
This carries mark-up at 0.05% per annum (2013: 0.05% per annum) (2)

45
 `

LENDINGS TO FINANCIAL INSTITUTIONS

Call money lendings 800000
600000
Reverse repurchase agreement lendings 10030448
27719623
Placements 577000
300000
11407448 4129000
Particulars of lendings
In local currency 11407448 32748623
In foreign currency - -
11407448 32748623

Securities held as collateral against landings to financial institutions

Advance Net
2013 2014
Loans, Cash credits, running finances etc.
- In Pakistan 164150576 173952931
- Outside Pakistan - -
164150576 173952931
Islamic financing and related assets 358000 217559
Net investment in finance lease
- In Pakistan 14060985 17372840
- Outside Pakistan
- -
14060985 17372840

Bills discounted and purchased (excluding

market treasury bills)
- Payable in Pakistan 1747073 2187991
- Payable in Outside Pakistan 27571223 1970349
4318296 4158340
Advance (gross) 182914857 197083185

46
 `

Less: Provision for non-performing loans and

Advances
- Specific (25633504) (26702645)
- General (41755) (107125)
(25675259) (26809770)

Advances net of provisions 157239598 17027341

Particulars of advances (gross)

In local currency 182487447 196276131

In foreign currency 427410 520032

182914857 197083185
Short term advances upto one year 99818862 100276936
Long term advances for over one year 83095995 74881929
182914857 197083185

Islamic financing and related assets

2013 2014

Against murabaha 135000 151000

Against diminishing musharaka 250000 276000
385000 427000

Deferred Tax Assets-net

Taxable temporary differences;
- Surplus on revaluation of operating fixed assets (107558) (622003)
- Surplus on available for sale securities - (967031)
- Accelerated Tax depreciation (216786) (225573)

Deductible temporary differences;

- Deficit on available for sale securities 99049 -
- Loan loss provision 8026320 8026320
- Business loss (note) 4826327 5619824
12627352 9845426

Note:
The management has prepared a business plan on the basis of the arrangements.
The business plan includes certain key assumptions such as deposit composition,
growth of deposits and advances, Investment returns, potential provision against
assets, branch expansion plan etc. Any significant change in the key assumptions
may have an impact on the projections however, the management believes that it is

47
 `

probable that the bank will be able to achieve the projections as per the business
plan and future taxable income would be sufficient to allow the benefit of the
deductable temporary differences.

2013 2014
Rupees in 000

OTHER ASSETS NET

Income/mark-up accrued in local currency 3,870,354 8343481

Profit paid in advance on pehlay munafa scheme 63,533 67100

Advances, deposits, advance rent and other
prepayments 229,270 188,351

Advance taxation (payments less provisions) 2,282,471 2,317,060

Non-banking assets acquired in satisfaction of
claims 9,028,894 7,322,647

Branch adjustment account 87,231 63,640

Stock of stationery 28,409 16,747

Suspense account 15,927 1,897

Zakat recoverable from NITL 36,790 36,790

Claim for recovery of shares 18,570 18,570

Unrealized gain on revaluation of foreign contracts 51,159 34,415

Fraud and forgeries 44,871 39,789

Others 334,631 313,552

16,092,110 21480559

Less provision against:

Non-banking assets acquired in satisfaction of
claims (196,909) (196909)

Zakat recoverable from NITL (36,790) (36,790)

Claim for recovery of shares (18,570) (18,570)

Fraud and forgeries (14,834) (16,527)

(267,103) (243177)

48
 `

Other assets - net of provision 15,825,007 21237382

2013 2014

Note Rupees in 000

OPERATING FIXED ASSETS

Capital work in progress 129,034 132,650

Property and equipment 3,377,005 3,340,841
Intangible assets 8,762 -

3,514,801 3,473,491

Capital work-in-progress

Civil works 102,654 89,466

Premises Note - 30,070
Softwares 26,380 13,114

129,034 132,650

Note: During the year, the Bank has disposed off the premises at a gain
of Rs. 8,292 thousand (2013: Nil).

Particulars of provisions against non-performing advances

2013 2014

Specific General Total Specific Total

Rupees Rupees in
in 000 000

Opening balance 26,299,268 14,893 26,314,161 26,303,094 20,267 26,323,361

Charge for the year 3,710,768 26,862 3,737,630 3,300,774 - 3,300,774

(3,206,538
Reversals for the year (4,375,336) - (4,375,336) ) (5,374) (3,211,912)
(664,568) 26,862 (637,706) 94,236 (5,374) 88,862
Amounts written off (1,196) - (1,196) (98,062) - (98,062)

Closing balance 25,633,504 41,755 25,675,259 26,299,268 14,893 26,314,161

49
 `

In local currency 25,633,504 41,755 25,675,259 26,299,268 14,893 26,314,161

In foreign currencies - - - - - -
25,633,504 41,755 25,675,259 26,299,268 14,893 26,314,161

2013 2014
Rupees in
000

Reversal of provisions against non -performing

loans and advances
- charge to profit and loss account
(Reversal) / Charge of provision against non-
performing loans and advances-net (637,706) 88,862
Transfer from restructuring reserve (35,375) (1,054,292)

(673,081) (965,430)

Particulars of write offs:

Against provisions 1,196 98,062

Directly charged to profit and loss account 241 -

1,437 98,062

Write Offs of Rs. 500,000 and above 1,196 98,062

Write Offs of below Rs. 500,000 241 -

1,437 98,062

Details of loan write off of Rs. 500,000/- and above

DEPOSITS AND OTHER ACCOUNTS

Customers
Fixed deposits 125,857,124 111,143,862
Savings deposits 110,019,779 100,934,185
Current accounts - non-remunerative 60,096,224 47,209,408
Sundry deposits, margin accounts, etc. 2,320,299 2,854,198

298,293,426 262,141,653
Financial Institutions

50
 `

Remunerative deposits 7,227,752 3,131,640

Non-remunerative deposits 1,039,516 782,468

8,267,268 3,914,108

306,560,694 266,055,761

LIABILITIES AGAINST ASSETS SUBJECT TO FINANCE LEASE

2013 2014

Minimum Financial Principal Minimum Financial Principal

charges
lease for outstanding lease X outstanding
future
payments periods payments future periods

Rupees in 000 Rupees In 000

Not later than one year 1,298 148 1,150 1149 21 1,128
Later than one year and
not later than five years 1,265 29 1,236

2,563 177 2,386 1149 21 1128

.OTHER LIABILITIES 2013 2014

Mark-up/ return/ interest payable in local

currency 4,102,574 4850510
Mark-up/ return/ interest payable in foreign
currencies 16,219 22,886
Compensation payable on share deposit
money 56,931 231,459
Sundry creditors and accrued expenses 240,936 380,677
Unclaimed dividends 2,671 2,671
Payable to gratuity fund 71,470 87,331

51
 `

Provision for employees compensated

absences 209,961 193,464
Provision against off-balance sheet
obligations 497,702 497,377
Deficit on revaluation of deposits and
foreign bills purchased 21,028 -
Lease key money

3,036,386 1,912,790
Others 89,325 152919

8,345,203 10281610

2013 2014
Rupees in
000

Provision against off balance sheet obligations

Opening balance 497,377 495,702

Charge for the year 325 17875-

Reversal during the year - -
325 17875-

Closing balance 497,702 515577

The above provision has been made against letters of guarantee

issued by the Bank.

Islamic Banking Business

The Group has started Islamic banking operations during the year ended
December 31, 2014. As at close of the December 2014, 07 Islamic banking
branches were operating.

52
 `

STATEMENT OF FINANCIAL POSITION

As at December 31, 2014
2014 2013
Assets
Cash and balances with treasury banks 869772 157253
Balances with other banks 150225 19239
Due from financial institutions 4029000 477000
Investments 1627737 631876
Islamic financing and related services 1599074 385000
Operation fixed assets 100407 31218
Deferred tax assets - -
Other assets 125329 40200

8501544 1741786
Liabilities
Bills Payable 63129 1422
Due to financial institutions 264 -
Deposits and other accounts -
- Current account 3250964 660556
- Saving account 3916827 425985
- Term deposit 284189 7100
- Others 129835 12846
- Deposits from financial institutions-remunerative -
- Deposits from financial institutions-non remunerative -
Due to head office 275970 109565
Other liabilities 28781 5784

7949959 1223258
NET ASSETS 551585 518528

REPRESENTED BY:
Islamic banking fund 500000 500000
Reserves -
Unappropriated profit 55436 13095

555436 513095
Surplus on revaluation of assets (3851) 5433
551585 518528

53
 `

Remuneration to shariah advisor / board 2054 2126

Charity Fund
Opening balance 19
Additions during the year 1
19
Payments/utilization during the year 20
-

Islamic Banking Business profit and loss account

For the year ended December 31, 2014

2014 2013
Profit /return earned on financing, investment and placements 26674 82002
Return on deposits and other dues expensed 81147 14437
Net spread earned 185600 67565
Provision against non-performing advances - -
Provision against consumer financings - -
Provision for diminution in the value of investments - -
Bad debts written off directly - -
-
income after provisions 185600 67565
Other Income
Fee, commission and brokerage income 17997 2486
Dividend income -
Income from dealing in foreign currencies 132 2377
Gain on sale and redemption of securities -
Unrealized (loss)/gain on revaluation of investments -
classified as held for trading 31662
Other income 12776

Total other income 49791 6139

54
 `

235391 73704
Other expenses
Administrative expense 193050 60609
Other provisions /writer offs /reversals - -
- -
Other charges
Total other expenses 193050 60609
42341 13095
Extra ordinary / unusual items
-
Profit before taxation 42341 13095

FINANCIAL ANALYSIS

To analyze the financial position of The Bank of Punjab, different

tools are used like Ratio Analysis to measure the financial
performance of The Bank of Punjab.

Who analyzes financial statements?

a) Internal users (i.e., management)
b) External users

Examples:

55
 `

Investors, creditors, regulatory agencies &

stock market analysts and auditors

Methods of Financial Statement Analysis

Common-Size Statements
Horizontal Analysis
Vertical Analysis
Trend Percentages
Ratio Analysis

Common size analysis

Common size analysis is one tool to compare companies across time
and with other companies.

Three Types:

a) Vertical Common Size Income Statements

b) Horizontal Common Size Income Statements
c) Common Size Balance Sheets

HORIZINTAL ANALYSIS:

Horizontal analysis is the comparison of historical financial

information over a series of reporting periods, or of the ratios
derived from this financial information.

Balance sheet
%
2013 2014 Increase/Decrease age
Amount in Amount in
ASSETS: 000 000 Amount in 000

56
 `

Cash and balances with treasury

banks 17,298,251 23,820,864 6,522,613 38%
Balances with other banks 3,101,170 4,265,296 1,164,126 38%
Lendings to Financial institutions 1,562,946 11,407,448 9,844,502 630%
Investments - net 129,518,999 123,956,143 (5,562,856) -4%
Advances - net 149,605002 157,285595 7,653,596 5%
Operating Fixed assets 3,473,491 3,514,801 41,310 1.2%
Deferred tax assets 13,070,614 12,627,352 (443,262) -3%
Other assets 14,480,581 15,820,643 1,340,062 9%
Total Assets 332,111,054 352,698,145 20,587,091 6%

LIABILITIES:
Bills payable 1,500,709 1,506,335 5626 .37%
Borrowings 44,683,826 22,802,482 (21,881,344) -49%
Deposits and other accounts 266,055,781 306,560,767 40,504,986 15%
Sub-ordinated loans - -
Liabilities against asset subject to
finance lease 3,601 2386 (1215) -34%
Deferred tax liabilities - -
Other liabilities 7,495,634 8,344,877 849,243 11%
319,739,551 339,216,847 19,477,296 6%

NET ASSETS: 12,371,503 13,481,298 1,109,795 9%

REPRESENTED BY:
Share capital 5,287,974 10,551,132 5,263,158 99%
Reserves 1,187,433 1,539,659 (1,033,774) -87%
Accumulated loss (12,742,36) (11,250,88) 1,491,479 12%
(6,266,957) 576,748 (5,690,209) 91%
Share deposit money 17,000,000 12,000,000 - -
Surplus on revaluation of assets -
net of tax 1,638,460 904,550 (733,910) -45%
12,371,503 13,481,298 1,109,795 9%

VERTICAL ANALYSIS:
Vertical analysis is the proportional analysis of a financial
statement, where each line item on a financial statement is listed as
a percentage of another item.

57
 `

Balance sheet
Amount in Amount in
ASSETS: 000 000
Cash and balances with treasury banks 17,298,251 5% 23,820,864 6%
Balances with other banks 3,101,170 1% 4,265,296 1%
Lendings to Financial institutions 1,562,946 0% 11,407,448 3%
Investments - net 129,518,999 39% 123,956,143 35%
Advances - net 149,605,002 45% 157,285,598 45%
Operating Fixed assets 3,473,491 1% 3,514,801 1%
Deferred tax assets 13,070,614 4% 12,627,352 4%
Other assets 14,480,581 4% 15,820,643 5%
Total Assets 332,111,054 100% 352,698,145 100%

LIABILITIES:
Bills payable 1,500,709 .5% 15,063,335 .5%
Borrowings 44,683,826 14% 22,802,482 6.7%
Deposits and other accounts 266,055,781 83% 306,560,767 90%
Sub-ordinated loans - -
Liabilities against asset subject to finance
lease 3,601 0.001% 2,386 0.0007%
Deferred tax liabilities - -
Other liabilities 7,495,634 2.34% 8,344,877 2.46%
319,739,551 100% 339,216,847 100%

NET ASSETS: 12,371,503 13,481,298

Trend Analysis
A firm's present ratio is compared with its past and expected future
ratios to determine whether the company's financial condition is
improving or deteriorating over time. Trend analysis studies the
financial history of a firm for comparison. By looking at the trend of a
58
 `

particular ratio, one sees whether the ratio is falling, rising, or

remaining relatively constant. This helps to detect problems or
observe good management.

Four years at Glance

Criteria 2014 2013 2012 2011

Balance sheet
Total assets Rs.in m. 352698 332111 280998 229190
Advance (net) Rs.in m. 157286 149605 127130 120818
Investments Rs.in m. 123956 129519 92581 56403
Shareholders Equity Rs.in m. 12577 10733 10135 2947
Revaluation Reserve Rs.in m. 905 1638 638 721
Deposits Rs.in m. 306561 266056 237897 208177
Borrowings Rs.in m. 22802 44684 24964 11527

Criteria 2014 2013 2012 2011

Operating Results
Markup/return/interest Rs.in m. 24228 24666 20685 18220
earned
Rs.in m. 20209 22523 21073 18802
59
Rs.in m. 4019 2143 (388) (582)
Rs.in m. 3596 3191 1990 1883
 `

Markup/return/interest
Expenses
Net markup income
Non-markup based
Income
Non-markup based
Expenses
Provision against NPLs
Net profit/(loss)before
Tax
Net profit/(loss) after
Tax

Criteria 2014 2013 2012 2011

Other information
EPS (Non dilutive) Rs. Per 2.36 2.63 0.66 (7.62)
share
Dividend cash %
- - - -
Dividend:
- bonus issue interim % - - - -
- bonus issue final % - - - -
No. of branches No. 334 306 284 273
Staff strength No.
6092 5491 4999 4464
Break up value per share Rupess 5.58 4.82 4.55 1.93
.

Ratio analysis:
Expression of logical relationships between items in a
financial statement of a single period (e.g.,percentage
relationship between revenue and net income).Ratio analysis
is used to calculate the profitability, liquidity/leverage etc.

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of the firm. From ratio analysis it is possible to predict future

variances. Following ratio analysis of Bank of Punjab has been
calculated. I am discussed some ratio analysis:

Return on Asset (ROA)

A measure of a company's profitability, divided by its total assets,
expressed as a percentage. This is an important ratio for
companies or firms deciding whether or not to initiate a new project.
The basis of this ratio is that if a company is going to start a project
they expect to earn a return on it, ROA is the return they would
receive. Simply put, if ROA is above the rate that the company
borrows at then the project should be accepted, if not then it is
rejected.

Return on Assets (ROA) = Profit after Taxation x 100

Total assets

Year 2013 2014

Net income 1744556 1914720

Total assets 332110474 352674257

ROA 0.525% 0.543%

WORKING:

YEAR 2013: 1744556/332110474 x100=0.525%

YEAR 2014: 1914720/352674257 x100=0.543%

Return on Equity (ROE)

Return on Equity measures the amount of Net Income earned by utilizing
each dollar of Total common equity. It is the most important of the
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Bottom line ratio. By this, we can find out how much the shareholders
are going to get for their shares. This ratio indicates how profitable a
company is by comparing its net income to its average shareholders'
equity.

The return on equity ratio (ROE) measures how much the

shareholders earned for their investment in the company.
The higher the ratio percentage, the more efficient management is in
utilizing its equity base and the better return is to investors.

Return on Total Equity = Profit after taxation x 100

Total Equity
Year 2013 2014

Net Income 1744556 1914720

Total Equity 6475407 12103886

ROE 26.94% 0.158%

Working

Year 2013: Total Equity = 5,287,974 + 1, 187,433 + 0

= RS.6, 475,407
ROE= 1744556/6475407x100 =26.94%
Year 2014: Total Equity = 10,551,132-263,158+1,539,659+0
=RS.11, 827,633
ROE=1914720/11827633x100=16.18%

Earning Per Share

The portion of a company's profit allocated to each outstanding share of
common stock. Earnings per share serve as an indicator of a company's
profitability. Earnings per share are generally considered to be the single
most important variable in determining a share's price. It is also a major
component used to calculate the price-to-earnings valuation ratio.

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Earning Per Share = Profit after Taxation

Number of Shares

Year 2013 2014

Profit after taxation 1744556 1914720

No. of shares 621264311 820953647

Eps 2.81 2.33

Working:
Year 2013: 1744556/621264311 =2.81
Year 2014: 1914720/820953647=2.33

Market Price / Earning Ratio:

The Price-Earnings Ratio is calculated by dividing the current market price
per share of the stock by earnings per share (EPS). (Earnings per share are
calculated by dividing net income by the number of shares outstanding.)

The P/E Ratio indicates how much investors are willing to pay per dollar
of current earnings. As such, high P/E Ratios are associated with growth
stocks. (Investors who are willing to pay a high price for a dollar of
current earnings obviously expect high earnings in the future.) In this
manner, the P/E Ratio also indicates how expensive a particular stock is.
This ratio is not meaningful, however, if the firm has very little or negative
earnings.

Price / Earning Ratio = Stock Price per Share

Earning Per Shares

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Year 2013 2014

Stock price per share

Earning Per share 2.81 2.33

Price/Earning Ratio

Debt Ratio:
The ratio of total debt to total assets, generally called the debt ratio,
measures the percentage of funds provided by the creditors. The
proportion of a firm's total assets that are being financed with borrowed
funds. The debt ratio is calculated by dividing total long-term (debt) and
short-term liabilities (short term borrowing, a/c payable) by total assets.
The higher the ratio, the more leverage the company is using and the
more risk it is assuming. Assets and liabilities are found on a company's
balance sheet.

Debt Ratio = Total Debt / Total Assets x100

Year 2013 2014

Total Debt 319739825 339217100

Total Assets 332110474 352674257

Debt Ratio 96.27% 96.18%

Working :
Total Debt =Bills Payable+Borrowings from financial institutions+ Deposits &
other accounts+Subordinate Loans+Liabilities against assets subject to finance
lease + deferred tax liabilities+Other liabilities

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For 2012: Total Debt = 1500709 + 44683826 + 266055761 + 0 + 3601 +

7495928
= RS.319, 739,825
Debt Ratio: 319739825/332110474x100=96.97%
For 2013:
Total Debt = 1506335 + 22802482 + 306560694 + 0 + 2386 + 8345203
= RS.339, 217,100
Debt Ratio: 339217100/352674257x100=96.18%

Debt to Equity Ratio

This ratio describes the capital structures of the company. A high debt to
equity ratio implies that the company has been aggressively financing its
activities through debt and therefore must pay interest on this financing.
The bank of Punjab uses little or no debt in its capital structure and has
less financial risk.

Total debt = short term borrowing + long term debt.

Year 2013 2014

Total Debt 319739825 339217100

Total Equity 6475407 12103886

Debt to equity Ratio 49.37 28.02

Working
Total Debt = Bills Payable + Borrowings from financial institutions + Deposits
& other accounts + Subordinate Loans + Liabilities against assets subject to
finance lease + deferred tax liabilities+ Other liabilities
Total Equity = Share Capital + Reserves + Un-appropriate Profit

For 2012: Total Debt = 1500709 + 44683826 + 266055761 + 0 + 3601 +

7495928
= RS.319, 739,825

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Total Equity = 5,287,974 + 1, 187,433 + 0

= RS.6, 475,407
Total Debt = 319,739,825/6,475,407=49.37
For 2013: Total Debt = 1506335 + 22802482 + 306560694 + 0 + 2386 +
8345203
= RS.339, 217,100

Total Equity = 10,551,132 + 1, 3095 + 1,539,659

=RS.12, 103,886
Total Debt = 339,217,100/12,103,886=28.0

Auditors Report to the Members

We have audited the annexed consolidated financial statements

comprising the consolidated statement of financial position of The
Bank of Punjab (the Bank) and its subsidiary company (together
referred to as group) as at December 31, 2014 and the related
consolidated profit and loss account, consolidated statement of
comprehensive income, consolidated cash flow statement and
consolidated statement of changes in equity, together with the
notes forming part thereof (here-in-after referred to as the
consolidated financial statements), for the year then ended. These

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consolidated financial statements include unaudited certified returns

from branches of the bank, except for 20 branches, which have
been audited by us. We have also expressed a separate opinion on
the separate financial statements of the Bank. Its subsidiary
company, Punjab Modaraba Services (Private) Limited (the
company), however, was audited by another firm of Chartered
Accountants, whose report has been furnished to us and our
opinion in so far as it relates to the amount included for such
Company is based, solely on the report of such auditors. The audit
opinion refers that the Company has accumulated losses and its
current liabilities exceeded its current assets, consequently
highlighting the existence of uncertainty which may cast doubt on
the Companys ability to continue as a going concern (note 1.1.1).
These consolidated financial statements are the responsibility of the
Banks management. Our responsibility is to express an opinion on
these consolidated financial statements based on our audit. Our
audit was conducted in accordance with the International Standards
on Auditing and accordingly included such tests of accounting
records and such other auditing procedures as we consider
necessary in the circumstances.In our opinion, the consolidated
financial statements present fairly the financial position of the group
and its subsidiary company as at December 31, 2014 and the
results of their operations for the year then ended. We draw
attention to Note 1.2 to the consolidated financial statements in
which the matters related to equity injection by the Government of
Punjab (GoPb), regulatory capital compliance and relaxations
granted by the State Bank of Pakistan (SBP) from provisioning
against certain advances based on the undertaking by GoPb in
respect of capital injection and enduring support of GoPb have
been fully discussed, and also to note 13.1 where in basis for
recognizing deferred tax asset have been explained. The
preparation of projections involves certain key assumptions by the
management and any significant change therein may have an effect
on the realisability of deferred tax asset. Our opinion is not qualified
in respect of these matters.
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M. Yousuf Adil Saleem & Co.

Chartered Accountants
Engagement Partner:

Nadeem Yousuf Adil

Dated: March 27, 2015
Place: Lahore

CHAPTER 5:
SWOT ANALYSIS
SWOT analysis is one of the most important steps in formulating
strategy using the organization mission as a context; managers
assess internal strengths distinctive competencies and weakness
and external opportunities and threats. The goal is to then develop
good strategies and exploit opportunities and strengths neutralize
threats and avoid weaknesses.
SWOT analysis is an acronym that stands for strengths, weakness,
opportunities, and threats SWOT analysis is careful evaluation of an

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organizations internal strengths and weakness as well as its

environment opportunities and threats.

SWOT analysis is a situational which includes strengths,

weaknesses, opportunities and threats that affect organizational
performance.

In SWOT analysis the best strategies accomplish an organizations

mission by:

1. Exploiting an organizations opportunities and strength.

2. Neutralizing it threats.

3. Avoiding or correcting its weakness.

INTERNAL ASSESSMENT:

STRENGTH:
The Bank of Punjab has lack of staff members than the
required staff level but its performance level is high as
compared with its staff level.
As a result of the compassionate and personalized services
of the officers, the clients perception for BOP is very high.
They have trust and feel themselves to be secure while
dealing with BOP.
BOP has opened all its branches at commercial areas so
that the customers or clients face no problems in reaching
to the bank
One employee in the bank performs many duties.

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There is also improvement in corporate loans and

consumer loans.
All staff members treat their account holders/general public
with well behavior.
Bank has higher level of deposits if we compare with other
banks. Deposit wise its number is 7th in Pakistani Industry.
In Punjab bank, there is computerized system so
performance automatically has been increased having
better results.
Compliance all risk mitigation policies and procedures. The
banks management realizes the necessity of existence of
effective internal controls to ensure smooth operations in
current technical and swift business environment.
The management feels confident that all internal controls
procedures are adequate to effectively and efficiently meet
the operational requirements.
Comprehensive risk management policies for credit,
operational and market risks are being implemented.
Necessary steps have been taken to ensure effective
monitoring of risks and to observe compliance all risk
mitigation policies and procedures.
The Bank officers of BOP are considered as one of the
most able professionals in the banking world. However,
they have added some local flavor in accordance with their
targeted segmented. In my observation that they interact
with their clients as if they are their personal friends and
discuss about their problems as their own.
Good security system, diversification of investments,
foreign reserves.
Not excellent but good facilities are given to employees.

WEAKNESS:

Level of bad debts is improving at higher level.

There is also lack of workplace in the Bank.
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Lack of proper internal controls is one of the major

weakness of BOP.
BOP has formulized a lot of products and services for its
customers, even more than other commercial banks, but
any advertisement on electronic media has not been seen.
I observed during my internship that some of the
employees were burdened with over work. So I think that
the work should be distributed according to their post and
capabilities.
As each staff member performs many duties in one time so
this capture extra time which can slows down the
performance.
Due to lack of workplace, staff members as well as the
general public face disturbance in the bank.
Biased selection of employees.

EXTERNAL ASSESSMENT:

ENVIRONMENTAL OPPORTUNITY:

The Bank of Punjab compete its competitors by encouraging

agriculture loans. So in such a way it plays an important role
for promotion of agriculture sector.
All the opportunities of the 21st century are to be availed in the
information technology. Information technology is the future of
this dynamic world. Therefore BOP should emphasize much
on IT, especially on E-Banking. Bank can design a universal
account like other foreign banks, to enhance online facilities.
Bank also encourages industrial sector. So in such a way
most of industrialists deal with Punjab Bank as a result Bank
maintains large size of deposits.
However the year 2013-14 will prove to be another
challenging year for the bank with scattered opportunities and
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tough competition. Diversification, innovation and mission

driven approach are the key to success.
Management of the bank is committed to continue its efforts
for outstanding performance. Improvement in stakeholders
value shall be ensured through progressive but cautious
business expansion with strategic branch network extension
and introduction of innovative products in all areas of
business.
BOP has introduced a number of financial schemes including
special Deposit Accounts. These accounts have their unique
features. During the last three years, BOP deposits have been
increasing 30% to 40%, which is a very healthy sign.
Therefore, with the commencement of new schemes there can
even be a greater increase in its deposits.
Great opportunity of starting Islamic banking system.

ENVIRONMENTAL THREAT:

Currently The Bank of Punjab is facing major threat in

Pakistan that is private businessmen do not prefer the Bank of
Punjab due to the standard as compare to private bank.
BOP is facing a strong competition by its competitors,
Business of all these Banks are growing at very high pace.
Despite the difficult circumstances that confronted the banking
sector in particular and the country in general, BOP has been
still highly profitable. But, the facts cant be denied and there
might be an adverse impact of such situation.
Low security, economic and political instability

PEST ANALYSIS

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PEST analysis is a useful tool for understanding the big picture of the
environment, in which we are operating, and the opportunities and threats that lie
within it. By understanding the environment in which we operate (external to your
company or department), we can take advantage of the opportunities and minimize
the threats.
Specifically the PEST analysis is a useful tool for understanding risks associated
with market growth or decline, and as such the position, potential and direction for a
business or organization. A PEST analysis is a business measurement tool, looking
at factors external to the organization. It is often used within a strategic swot analysis
(Strengths, Weaknesses, Opportunities and Threats analysis).PEST is an acronym
for Political, Economic, Social, Technological factors, which are useassess the
market for a business or organizational unit strategic plan. PEST stands for:

Political Factors
Economical Factors
Socio Factors
Technological Factors

Political Factors
Banks have been affected by political factors. Political decisions by the
Government of the country in particular and by foreign governments in
general also affect the banking sector and work of a manager. The
decisions taken by the Government may be favorable or unfavorable in
their implications to business. Federal, provincial and local bodies Fiscal
and monetary policies of the country may affect the business. Political
decisions also influence Bank client relationship. There are following
political factors affected the performance of Banks in Pakistan.
a) Nationalization and denationalize of banking
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b) Instability of Governments
c) Increase no. of foreign Banks
d) Energy crisis
e) Terrorist and criminal activities
Various policies are framed by the SBP looking at the present
situation of the country for better control over the banks
Government Policy
Monitory Policy
Budget Measures

Economic Factors
Economic policies of the Government and State Bank of Pakistan
greatly affect the performance of Banks. Currently credit ceilings
and Capital value added tax have resulted in excess liquidity. In the
absence of a well-developed capital market, banks are faced with
constraints for investment. The growing inflation rate motivates
depositors to divert their from banks to national savings schemes.
Credit policies of the State Bank also affect operations of Banks.
There are following Economic factors have major affect on the
performance of banking sector.
a) Inflation and Deflation rate
b) Tax and Trade policies
c) Wages rates
d) Fiscal policies
e) GDP rate
f) Devaluation of currency rate
g) And growth of different sectors likes agriculture and industry
etc.
The State Bank of Pakistan holds a unique position in our economic
and financial infrastructure. The functioned performed by SBP are
of immense importance for the safe and sound running of economy
and financial sectors. It performs very important and crucial role in
whole economy.

Social Factors

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The Social environment is composed of attitudes, expectations,

degree of intelligence, education, belief and customs of people in a
group or society. Ethical aspects include principles and practices
which correlate to personal conduct, Changes in these patterns
affect the work of banking sectors and its employees.
From the view point of a banker, the behavior of clients is very
important. If ethical standards are high and capacity to pay exists,
loans are likely to be returned. On the other hand, despite capacity
to pay, existing loans are not likely to be paid. Moral self-
accountability is a prerequisite to change the behavior of the client.
There are following involves in social factors:
a) Changing in living standard of people
b) Custom and traditions
c) Changing in tastes, fashions and preference
d) Literacy rate
e) Population growth
The social needs and challenges are many and of diversified
nature. It will be in the fitness of things if banks respond to societal
needs and come forward to make positive contribution towards
betterment of the society.

Technological Factors

In todays time, the term technology is used in a broader sense and

includes the following:
a) Invention
b) Techniques
c) New store of organizational knowledge
Modern technology has affected several businesses like banks etc.
Their expansion and growth has primarily been due to faster
absorption of new technology. Information Technology has enabled
the firm to offer improved services to clients. Use of computers has
been very helpful for processing information of clients.
In recent time, E-banking has spread rapidly all over the globe. All
banks working in Pakistan are making greater use of E-banking
facilities to provide better service and to excel in competition. The
spread of E-banking has also greatly benefited the ordinary

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customer in general and corporate world in Particular. There are

following items relating with technological factors in banking sector:
a) ATMs (Automate Teller Machine)
b) Online Banking
c) Electronic Funds Transfer
d) Credit cards and smart cards
e) Mobile Phone banking
f) MIS ( Management Information System)
But there are some disadvantages of Technological factors in
banking sectors;
a) Cyber crime
b) Expensive
c) Must be up-to-date

CHAPTER 6:

RECOMMENDATIONS FOR IMPROVEMENT

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I have suggested some recommendations for improvement.

Maximum Space and Furniture

In the critical analysis this problem is discussed. To overcome this
problem it is suggested that a special section should be made
inside the branch. Which should only handle the treasury function,
salaries and pension etc. Also management should purchase more
furniture and arrange them in such a way which provides maximum
space and convenient especially for the customers.

Modern Technology
The 21st Century has several challenges. It has been new trends on
National and International levels. Without new tools, methods and
technology it cannot be possible. Now a days, Modern technology
affected various sectors including banking sectors. The technology
becomes a crying need of every business. So BOP should be
adopted every new technology for their business expansion and
growth.

Mobile Or Internet Banking

While other banks are leading towards hands on accounts BOP
should also need to start a comprehensive Mobile or internet
banking where all transactions become more secure & easy.

Appraisal System
During Internship I felt that there is no or very less appraisal of any
ones cool performance. The manager should strictly monitor the
performance of every staff member. All of them should be awarded
according to their performance and result in the shape of bonuses
to motivated and incite them to work more efficiently.

Controls

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The major and the most important flaw in the BOP is lack of internal
controls and inter communication between different branches of the
bank.
Branch Transfers
Transfer is not properly carried out. Some of the employees are
continually serving at the same post. They are simply rotated at the
same branch. Therefore it is recommended that evenly rotation of
every employee should take place after every three years in
different braches of the bank.

Qualified Staff Should be Appointed

Required, qualified staff should be provided to branch in order to
improve the functioning of the branch. Especially a telephone
operator should

Inter Departmental Transfer

I watched during my internship that, there employees who have
worked on one seat for many a year. It can have negative effects
motivation of employee who is hard working and intelligent. In every
six months there should be a mechanism to inter department
transfer of employee.

Complaints of Customer
There should be an information desk to provide the information and
to receive the complaints of the customer in the bank. There is no
complaint box available in the branch and not any person appointed
to hear the complaints.

Commitment To BOP
It is suggested that employees working on daily wages basis should
be given some benefits, which the other employees are getting.
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Their salaries must increase according to efficiency, performance

and service this will increase their commitment to the bank.

CHAPTER 7:
Conclusion

An internship offers the chance to learn by doing in a setting where you

are supervised by a work-place professional, and have the opportunity to
achieve your own learning goals, without the responsibilities of being a
permanent employee. So, Internship is an interesting program, which
gave me the practical touch of the banking field. Through this, I learnt
that what is the banking and its activities. I learnt from the bank officer
and understood the operations of banking. This training program
enhanced my knowledge about the banks. I have done my internship in
BOP SHAD BAGH branch at Lahore. As an internee of BOP, I have
learnt lot of professional activities from this branch. I have worked in the
various departments.
While making an analysis of The Bank of Punjab, as a financial
institution, and writing this report. We find that this institution came into
existence in pursuance of Bank of Punjab Act, 1989 passed in the
legislative Assembly of Province of Punjab. In the short span of time, it

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becomes the seven largest banks (depositors wise) in the county with
405 Branches network all over the country. And It is one of important
bank for our economy. I have suggested some recommendations in the
light of ratios and SWOT analysis.
While having an opportunity to go for internship at the branch, I have
observed the following reservations:
BOP is not offering attractive salary to their employees as compare to
other banks. Salary is not a motivator for workers.BOP do not have a
modern marketing concept as compare to others, due to less
participation in promotion activities BOP is facing low sales or low
deposit. As I have written in the critical analysis BOP HR practice is also
very poor. Employee motivation, employee job satisfaction is not up to
the market.
And third party employees problems are more than other employees,
because they have not get true salary, bonus and other advantages and
also deducted some amount from his salary for third party. BOP has not
any sound Performance appraisal system, where employee could get
maximum benefits. On the other hand BOP needs a good supervision
and leadership because the role of supervisor is very difficult. It requires
sound leadership skills and ability to treat all employees fairly.

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Bibliography

For the analysis and the brief history of the Bank of Punjab, his financial Statements, I attain
data by using internet from different websites, in which,

History of The Bank of Punjab Retrieved 20th March 2016 from Bank of Punjab web
https://www.bop.com.pk/AboutUs

List of banks in Pakistan

https://en.wikipedia.org/wiki/List_of_banks_in_Pakistan
http://sbp.org.pk/f_links/index.asp
Bank Of Punjab Financial reports

www.sbp.org.pk/stats/Balance/2014/Bank-of-Punjab.pdf

https://www.bop.com.pk/Financials/Annual%20Accounts/A
FS2014.pdf

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