SUMMIT BANK LIMITED

ABDALI ROAD BRANCH, MULTAN

Internship Report
Submitted in Partial Fulfillment

For
The Degree of
BBA Hons (Marketing)
ACKNOWLEDGEMENT

By the Grace of Almighty Allah, the most Merciful, and the most Beneficial, due to
the bounteous blessing of Almighty Allah, I become able to contribute this report on
completion of my internship period at Summit Bank Ltd, Abdali Road Branch.

I express my deep gratitude to my parents who have been the consistent support
during all phases of life. My internship would not have been possible without their
faith in my abilities.

I am thankful to my Institute and its faculty where I have been prepared to avail
this opportunity. I feel great being the representative of my institute at a reputed
organization. Hopefully, my personality will be polished more so that I can cater to
professional responsibilities

Also, i am thankful to the staff of Summit Bank Ltd. Abdali Road Branch, Multan:

Mr. (Branch Manager)

Mr. (Operations Manager)
Mr. Waheed Hussain (Customer Service)
Mr. Akbar Nazar (Customer Services)
Mr. Faisal Saeed (Clearing)

Regards,
Fatima Rahman

II
 TABLE OF CONTENTS

INTRODUCTION....................................................................1
HISTORY 1
FUTURE OUTLOOK 2

VISION..................................................................................2

MISSION................................................................................ 2

BOARD OF DIRECTORS........................................................3

MANAGEMENT COMMITTEE.................................................3

PRODUCTS OFFERED BY SUMMIT BANK LTD......................9

ACCOUNTS 9
CURRENT ACCOUNT 9
PLS ACCOUNT 9
TERM DEPOSIT 10
MAHANA AMDAN ACCOUNT 10
DAILY PRODUCT ACCOUNT 12
HAMARA FAMILY ACCOUNT 12
SUMMIT ADVANTAGE ACCOUNT 13
ELECTRONIC BANKING SERVICES 14
MOBILE BANKING 15
INTERNET BANKING 15
CONTACT CENTRE 16
U-PAYMENTS 17
MOBILE BALANCE RECHARGE 17
BILL PAYMENTS 17
INTER BANK FUNDS TRANSFER 18
E-STATEMENT 19
CONSUMER BANKING 20
HOME FINANCE 20
PERSONAL FINANCE 22
WEDDING PLANNER 23
GRADUATE PLAN 24
GOLDEN AGE PLAN 25
INSURANCE PLANS 26
ATM WITHDRAWAL INSURANCE 26
PERSONAL ACCIDENT INSURANCE 26
CORPORATE AND INVESTMENT BANKING 27
AREAS OF CORPORATE BANKING 27

III
 AREAS OF INVESTMENT BANKING 27
COMMERCIAL AND SME BANKING 28
VISA DEBIT CARD 29
CLASSIC CARD 29
GOLD CARD 30
WESTERN UNION 31
AMANAT CASH 32
XPRESS MONEY 32

DEPARTMENTS AT SHIKARPUR ROAD BRANCH SUKKUR...33

CUSTOMER SERVICES DEPARTMENT 33
ACCOUNT OPENING PROCEDURE 33
ACCOUNT CLOSING PROCEDURE 34
CAPTURED ATM CARDS 35
CASH DEPARTMENT 35
CLEARING DEPARTMENT 35
OUTWARD CLEARING 36
INWARD CLEARING 36
COLLECTION (OBC) 37

SWOT ANALYSIS.................................................................. 37
STRENGHTS 37
WEAKNESSES 37
OPPORTUNITIES 37
THREATS 37

CONCLUSIONS....................................................................38

SUGGESTIONS....................................................................39

REFERENCES.....................................................................40

IV
 Introduction
Banking sector owes a pivotal importance in the economy of any country through its
vibrant functions. A bank is a financial institution that offers the widest range of financial
services. These financial institutions play a vital role throughout the worlds economic
system.

The banking structure of Pakistan consists of State Bank of Pakistan, Commercial Banks,
Exchange Banks, Cooperative Banks, Saving Banks and Specialized Credit Institution.
Banking means the accepting of money from public, in shape of deposits for the purpose
of lending or investment, repayable on demand or otherwise, and withdrawal by cheques,
drafts, and pay order

History
Summit Bank Ltd is one of the fastest growing commercial banks of Pakistan, which, in
a very short span of time, has expanded its network across the country and built an
infrastructure based on state of the art Risk Management Framework as well as IT
platform. Also targeting to be a universal bank in terms of providing products and
services in all key segments of banking i.e. Corporate and Investment Banking, Trade
Finance, Commercial Mid Market / SMEs, and Consumer Banking, it commenced its
operations in August 2006.

The Pakistan operations of Rupali Bank Limited were acquired by Arif Habib Securities
Limited under the Scheme of Amalgamation approved by the State Bank of Pakistan. The
name of Rupali Bank Ltd was subsequently changed to Arif Habib Rupali Bank Ltd and
then finally to Arif Habib Bank Ltd in October 2007. On 31 st March 2010, Suroor
Investments Ltd, a company incorporated in Mauritius, acquired 59.41% stake in Arif
Habib Bank Ltd from Arif Habib Securities Ltd, and on 18 th August 2010, Arif Habib
Bank Ltd was rebranded as Summit Bank Ltd.

Suroor Investments Ltd. also entered into share purchase agreements (SPAs) with
majority shareholders of MyBank Ltd and Atlas Bank Ltd, who after completion of the
transactions have merged in Summit Bank Ltd expanding the Banks geographical
outreach with a network of 166 Real Time Online branches across the country. In line
with the managements vision of making this bank a front runner amongst its peer banks,
this merger has brought synergies and access to a wider range of markets and customers.

By acquiring one of the best IT platforms of the world, offering web and SMS based
banking to the customers besides providing superior MIS to the Management; the Bank is
committed to be recognized as a preferred supplier of financial services to the markets it
serves. To achieve these goals, the Bank will strengthen itself in the financial service
industry, leverage optimal mix of technology to attain operating cost efficiencies, achieve
product and service differentiation, while at the same time growing its footprint through
further expansion of its branch network across the country.

1
Future Outlook

The bank has ambitious but realistic plans for the future; it intends to focus on widening
and diversifying its customer base, introduce new and innovative products/services
including tailored services to meet specific needs of the individual clients. The
bank will continue to provide and improve its technological base and introduce the
state-of-the-art banking products and solutions. It will also further improve its existing
e-banking services to facilitate its customers.

After successfully handling the merger related issues the management is geared to
take advantage of its new broader branch network and create new synergies through
consolidation process. The bank is now well placed and has the requisite capacities to
move forward towards realizing its vision and achieving long term strategic growth.

The Bank is committed to observance and adoption of internationally accepted best

practices of Corporate Governance and intends to further improve its current practices of
Corporate Governance.

Vision
To be the preferred provider of financial products & services to the markets.
Mission
To be a financial institution based on Trust, Integrity, and Good Governance.
To deliver financial solutions to our customers.
To provide equal opportunities & professional working environment to our
employees.
To provide fair return to our shareholders on their investment.
To serve the community at large.
To discharge corporate social responsibility

Board of Directors
H.E Nasser Abdulla Hussain Lootah
Chairman
Mr. Husain Lawai
Vice Chairman
Mr. Muhammad Zahir Esmail
President & CEO
Mr. Shehryar Faruque
Director

2
Mr. Asadullah Khawaja
Director
Mr.Md.Ataur Rahman Prodhan
Director

Management Team

Zahir Esmail
President & CEO
Syed Mohammad Anwar Lutfullah
Group Head Information Technology,Payment System and Administration
Ahsan Raza Durrani
Group Head Operations and Service Quality
Gulrays Khan
Group Head Internal Audit and Inspections
Faisal Shaikha
Group Head Treasury and Financial Institutions
Imran Ahmed
Group Head Islamic Banking
Kamran Ashraf
Group Head Retail and Branch Banking
Ali Pesnani
Group Head Corporate and Investment Banking
Aziz Morris
Group Head Risk Management
Muhammad Faisal Asghar
Group Head Credit
Habib-ur-Rehman
Group Head Special Asset Management and Fraud Management
Syed Muhammad Atif
Head Compliance and Control
Irfan Saleem Awan
Chief Financial Officer

3
Syed Muhammad Talib Raza
Company Secretary

Product and Services offered by Summit Bank

Deposit Products

Islamic Banking

Corporate Banking

SME Banking

Consumer Banking

Electronic Services

Remittance

Deposit Products

Current

CURRENT ACCOUNT

Summit Bank Current Account is a convenient and secure way of holding money in local
and foreign currencies.

The key features of this account are as follows:

Non-interest bearing
Starter cheque book issued when the account is opened
Unlimited free-of-cost transaction facility
No deduction of Zakat
Choice of periodic statements (monthly, quarterly, half-yearly and annual) by post
Access to account statement anytime through Internet Banking facility
Account transaction information through SMS
Free issuance of VISA debit card
Cash withdrawal through large ATM network

CLASSIC CURRENT ACCOUNT

Rewarding customers with unparalleled banking privilege, Summit Classic Current
Account offers additional benefits of Health Insurance and Hospitalization Coverage,
making customers present healthy and future secure.

4
Key Features

Health Insurance and Hospitalization Coverage

Non-Interest bearing and Local Currency Account
Health Wellness Card covering a Maximum limit of PKR. 50,000, PKR 100,000
and PKR 250,000 per person in accordance with the terms and conditions of the
insurer
Waiver of Health Insurance charges on maintaining Monthly Average Balance as
per coverage plan

Benefits

Emergency Care, Surgery and Hospitalization Coverage

Free Health Wellness Card
Pre-Existing Conditions Coverage
Easy Claim Processing
Prescription Medicine Coverage
Cash-less Claim facility at all Panel Hospitals
Non-Panel Hospital Reimbursement allowed

SUMMIT ASAAN ACCOUNT

Summit Asaan Account makes banking easy and accessible for everyone. All the
customer need is its CNIC to start availing the benefits of Asaan Current or Asaan
Savings Account with its unique features of hassle free banking.
Key Features
Asaan Current Account

Only Rs.100 to start with

No Minimum Balance Requirement
First Free Cheque Book (available on customer request)
Option to avail Young Bee Debit Card, Dolmen Loyalty Card and Visa Prepaid
Card.

Asaan Savings Account

Only Rs.100 to start with

No Minimum Balance Requirement
First Free Cheque Book (available on customer request)
Attractive Returns : 4% p.a. Returns
Monthly Profit Payout
Option to avail Young Bee Debit Card, Dolmen Loyalty Card and Visa Prepaid
Card

5
Terms & Conditions

One Account per CNIC can be opened (Single or Joint)

Available in Local Currency only
Funds cannot be Transmitted abroad
Withholding Tax will be applicable
Total Debit Balance Limit Per Month Rs.500,000
Total Credit Balance Limit Per Month Rs.500,000
Zakat will be applicable on Summit Asaan Savings Account Only (CZ50 is
required in case of Exemption)
Available only for Individuals (Single or Joint Accounts) in Pak Rupees
Account may be converted into Regular account subject to completion of CDD as
per Bank AML KYC Policy and Procedures upon receipt of Customer request

Saving

PROFIT LOSS SAVING ACCOUNT

Summit Banks Savings Account is the most convenient way to manage savings in local
and foreign currencies. Our Savings Account has been designed to provide customers
with easy access to your money, as well as a higher rate of profit.
Key features of these accounts are as follows:

Profit Bearing Account

No Minimum Balance Requirement
Choice of Periodic Statements on monthly, quarterly, half-yearly and annual basis
Access to account statement anytime through our Internet Banking and Electronic
Statement Facilities
Account Transaction information through SMS Alerts
Free VISA Debit Card

SENIOR CITIZEN ACCOUNT

Summit Bank offers the Senior Citizen Account, designed to empower Citizens of 60
years and above through easy and convenient banking by providing the highest level of
free services, benefits and attractive returns.
Key Features

Savings Account For Senior Citizens of 60 years & above.

Available in local currency only.

6
 Profit will be calculated on daily day end balance as per the daily product basis
and it will be credited in the account on monthly basis.
Profit Rate : (Subject to change)

5.50% Up to Rs. One Million Deposit.

6.00% Over Rs. One Million Deposit.

No minimum balance will be required.

In case of joint account at least one of the account holders should be of 60 years
& above, the other joint account holder should not be a minor but must be at least
18 years of age).
Un-limited deposits and withdrawals.
Free cheque book.
Special treatment will be available for senior Citizens at all the Branches.

HAMARA FAMILY SAVINGS ACCOUNT

Fostering the existing bond and to better serve your financial needs, Summit Bank offers
Hamara Family Savings Account a unique Savings Account offering Superior Returns
and a host of Free Services for customers entire Family. Now with Hamara Family
Savings Account you can watch your loved ones grow with their savings.
Key Features

Minimum Balance Requirement Rs.5,000

Attractive Returns
Additional 1% Bonus*

YOUNG BEE ACCOUNT

The Young Bee Account is a magical world of saving with many adventures awaiting
your young ones. Teach them the importance of saving from a young age, while also
keeping them safe and protected with the Young Bee Debit Card, which can be used in
place of cash wherever they go. The Young Bee Account is full of fun and easy to open.
Simply visit any Summit Bank branch and ask the bank officer to fill out a Young Bee
Account opening form.
Key Features

Attractive returns
No minimum balance

7
 Accumulation of points redeemable at McDonalds

Deposit

ADVANTAGE ACCOUNT
As an innovative Investment Product, Summit Bank offers Summit Advantage Account to
ensure convenient and profitable financing. Whilst delivering exceptional returns on your
investment, Summit Bank also provides the opportunity to avail up to 70% Loan
Financing, free from any additional mark up.
This unique offer is for those who want to conserve their savings but still want to avail a
hassle-free financing facility to manage periodic cash flow needs.
Key Features:

Rs.100,000 to start with

Maximum Limit of Investment Up to Rs.10,000,000
1 Year Term
Maximum Loan up to 70% of the Deposit with No Additional Markup
Attractive Returns
Monthly Profit Payout

MAHANA AMDAN
Summit Bank offers a unique term deposit product where you receive attractive monthly
Payouts with attractive returns.

Deposit Limits
Rs. 50,000 up-to Rs.10 million
Key Features

Monthly Profit will be Credited in the Depositors Link Account

Free VISA Debit Card

Conditions

Profit subject to Zakat, Withholding tax and other applicable taxes (unless
exempted)

8
 Regular declared TDR Profit rates (for last completed period of deposit) will be
paid on Premature Encashment

TD CERTIFICATE
Summit Bank Term deposits provide you with Exceptional Returns on your investments
over a fixed period of time.
Key Features

Attractive Returns
Choice of tenure (1 month, 3 months, 6 months, 1- 5 years)
Financing facility available

Electronic Services

Summit Bank is one of the leading banks in Pakistan in terms of electronic banking. They
offer customers with a diverse range of electronic services and convenient banking
options through various channels, such as ATMs, mobile phones and Internet.

Summit Bank Mobile Banking allows customers to avail a variety of banking services of
pure SMS-based technology, including mobile balance recharge and utility bill payments,
as well as account information.

Internet Banking is another channel on which they offer extensive banking services.
Customers can view account information, pay bills, transfer funds, and conduct many
other transactions through their account(s). Hence providing a fast, secure and convenient
way to banking.

Mobile Banking

In keeping up with rapidly changing technology, Summit Bank offers banking through
mobile. Customers can easily keep track of all their account transactions through their
mobile phone, and retrieve account information whenever they want, just by typing and
sending a simple SMS.

Transaction Alerts

Now wherever customers go, Summit Bank goes with them. Summit Bank gives the
following free transaction alerts on customers mobile:

Day End Balance

All Transactions (Debit & Credit)

9
They can also check their transactions and account balance. Customers who are already
subscribed for SMS alerts are automatically eligible for this service.

Internet Banking

Summit Bank offers a secure, fast and convenient Internet Banking channel with a range
of services. It will change the way you bank today.

Internet Banking ensures that you have convenient access to your account and banking
services, no matter where you are.

Services offered through Internet Banking:

Bill Payments
Credit Card Bill Payments
Mobile Balance Recharge Facility
Funds Transfer within Summit Bank
Inter Bank Fund Transfer
View and Download Account Statement
View ATM/VISA Debit Card Transaction Details
Activate/Deactivate ATM/VISA Debit Cards
Change ATM/VISA Debit Card PIN
Manage Spend/Withdrawal Limits for VISA Debit Cards
View Status & Stop Payment of Cheques
View Consumer Loan Details
Register and Track Complaints
View Internet Transaction Activity Log

Contact Center

Summit Banks 24/7 Contact Center is a state-of-the-art telephone information hub, based
on cutting edge communications technology. For any queries, concerns or complaints,
you can call our Contact Center toll free, at 0800-24365 24 hours a day, 365 days a
year.

An interactive voice response (IVR) system allows customers to bank directly and
independently, without the need of speaking to Summit Bank Phone Banking Officers.

Customers can avail the following services through the Contact Center:

Balance Inquiry
VISA Debit Card Activation
VISA Debit Card Blocking & PIN Change
Utility Bill Payments
Cheque Book & Pay Order Requests

10
 Complaint Registration
Statement Requests
Mobile Balance Recharge
Product & Service Information

Upayments

With Ufone connection and a Summit Bank account, you can avail convenience like no
other.

You can easily utilize the following services from your mobile:

Balance Inquiry
Mini Statement
Funds Transfer
Utility Bill Payments
Prepaid Ufone Balance Recharge
Postpaid Ufone Bill Payment

Mobile Recharge and Bill Payments

Anywhere, anytime, every network! Summit Banks Mobile Balance Recharge service,
the first of its kind, is the easiest and quickest way of recharging customer and their
friends and familys mobile airtime.

Time can be saved by availing Summit Banks Utility Bill Payments service. Customers
can now pay your bills through Internet Banking or sending an SMS to 24365.Customer
must open an account in Summit Bank now to get this unique and efficient Bill Payment
service.

Inter Bank Funds Transfer

With IBFT facility, customer can easily transfer funds to accounts in other banks using
our ATM or Internet Banking.

Summit Bank IBFT enables customer to send and receive funds on a real-time basis to
and from any account holder of 1-Link IBFT participating member banks.

Key Benefits

Convenience
Instant transfer

Round the clock facility

Eliminates use of cash & cheques

11
Transfer Funds through ATM

Insert ATM/VISA Debit Card

Enter PIN

Select Funds Transfer from the Main Menu

Select 1-Link member bank from the Funds Transfer Menu

In the From Account option, select your account type for transfer of funds

Select bank to which funds will be transferred

Enter the Beneficiary Account Number

Enter the amount to be transferred

Verify the Beneficiary Name, Bank and Branch

Confirm the transaction

Transfer Funds through Internet Banking

Log in at www.summitbank.com.pk
Click Funds Transfer

Click Other Bank Account(s)

Customer should select the account they want to transfer funds from, and enter the
amount

Customer than should select the bank they want to transfer to

Choose your transfer option (Beneficiary List Account or Other Account)

For Other Account, enter the Account Number and click Fetch Title. Verify
account details and click Submit to complete transfer

For Beneficiary List Account, select a beneficiary from the list and click Submit
to complete transfer

E-Statement

E-Statement is a convenient facility, through which you can choose to receive your
account statements over email, so you can access your statement whenever you choose,

12
wherever you go. The paperless service allows you to save account records without any
paperwork.

Customer can choose from a list of customized statement periods.

Statement Periods:

Daily
Weekly
Fortnightly
Monthly
Quarterly
Half-yearly*
Yearly*

Consumer Banking
Understanding trends in consumer product markets, and the financial needs of
consumers, SMBL is now designing Consumer Banking services through a dedicated
division. SMBL aims to aggressively grow its existing product portfolio by introducing
products in phases. We provide services for deposits, consumer loans, credit cards,
insurance and asset management through a customer-focused and competitive approach
while closely following technological developments. With a clearly defined market
segment and a solid strategic intent supported by a modern and reliable infrastructure,
Summit Bank is ready to reach new heights in Consumer Banking services.

Home Finance
Buying first home is a major milestone in customer life and one of the biggest financial
decisions they will ever make. Helpful information combined with the right
advice can make a world of difference and assist them in making the ultimate
decision. Get your own shelter and deal comfortable with your house hold chores.

Summit Bank has a comprehensive range of home loans schemes with solutions for
everyone. The value and flexibility that Summit Bank Home Finance offers,
complemented by exceptionally personalized service, is what makes it the right choice
for customers.

Summit Bank Home Finance can be sought to fulfill any of the following needs:

Buy-a-Home
Build-a-Home
Home Renovation
Purchase of Land & Construction
Home Debt Consolidation (BTF)

13
Personal Finance

Whether the expenses are for customers daughters wedding, outstanding payments, and
major surgical operation or just about anything else. With Summit Banks personal finance
loan solutions, they can have the peace of mind to meet these expenses.

Features:

Loan Amount Minimum: Rs.25, 000/-

Maximum: Rs.1, 000,000/-

Loan Tenor: Minimum: 1 year

Maximum: 5 years

Mark-up Type: Fixed

Loan Enhancement Facility: Available

Early Settlement Facility: Available

Benefits:

Quick Processing
No Processing Fees before approval
Minimum Documentation
Competitive Rates
Complimentary Credit Life Insurance

Requirements:

Pakistani Resident & CNIC holder

Age between 21yrs to 65yrs
Minimum net Income PKR 15,000/-
Salaried individual only

Gold Loan
Summit Gold Loan is a secured running finance /personal loan facility designed to cater
to the emergency funding needs of individuals.
Features:

14
Loan Amount Minimum: Rs.50, 000/-Maximum: Rs.2, 000,000/-

Loan Tenor: 1 Yr

Mark-up Rate: 3 Months KIBOR + 500bps or Minimum 15%

*Mark-up rate to be revised on Quarterly Basis

Loan Limit against Gold: Upto 60% of Gold Value

Loan Type: Running Finance / Term Finance

Insurance: Insurance of Gold will be mandatory from Banks

Authorized Insurance Company

Loan Enhancement Facility: Available

Early Settlement Facility: Available
Benefits:

Quick Processing
Minimum Documentation
Competitive Rates

Requirements:

Account will be opened in accordance with documentary requirements laid down

in the SOP of Account opening and management
Must be a resident Pakistani
No minimum income required
2 passport size photograph of applicant
1 passport size photograph of Nominee
2 References
Quality of Gold Not less than 18 Karat

Auto Loan

Features:

Loan Amount: Minimum: Rs.300, 000/-Maximum: Rs.6, 000,000/-

Loan Tenure: Minimum: 1 Yr Maximum: 5 Yrs

15
Mark-up Rate: Salaried: Six Months KIBOR + 400bps

Self Employed Professional: Six Months KIBOR + 450bps

Self Employed Businessman: Six Months KIBOR + 500bps

*Mark-up rate to be revised on Six Monthly Basis

Down Payment (Equity): Minimum 15% of Vehicle Value

Vehicle Type: Passenger Vehicle

Insurance: Vehicle Insurance will be mandatory from

Banks authorized Insurance Company

Early Settlement Facility: Available

Benefits

Quick & Hassle Free Processing

No Processing Fees before approval
Choose any type of Car Local (New & Used) & Imported (Registered
& Un-Registered)
Insurance through reputable Insurance Company at lowest rate

Corporate and Investment Banking

Summit Bank mission is to serve all corporate requirements and ensure full satisfaction
through product innovation, personalized banking, and top notch service. Their
Corporate & Investment Banking Group focuses on attracting and serving Blue Chip
Customers. Summit Bank forte is providing exemplary customer service using the
Single Window concept and Product Superiority. Summit Bank Corporate Banking
Group comprises a seasoned team of Relationship Managers (RMs) to meet the
demanding service standards of Corporations & Businesses enabling us to provide timely
and effective financial solutions for our customers to meet the growing challenges of a
global economy. Their RMs have the expertise you need to create tailored financial
solutions catering to the specific requirements of your business. Whether its establishing
a new venture or expanding an existing business, our team understands the banking needs
of businesses, and works closely with them to help them realize their goals.

Some of Summit Bank Specialist areas in Corporate Banking include:

16
 Running Finance, Short Term & Long Term Finance, Financing against Imported
Merchandise (FIM), Cash finance and Export Re-finance.
Pre and Post Shipment Export Financing (PKR and USD based)
Import Financing (PKR and USD Based).
Trade Services including Letter of Credit (Sight & usance), Letter of Guarantee
and Standby Letter of Credit, etc.
All other services with respect to the requirement of business of borrower are
provided here.

Summit Bank specialist area in Investment Banking include:

Project & Structured Finance

Syndications & Debt Capital Market
Equity & Advisory
Bonds
Structured Finance
Leveraged Buyouts
Privatization
Equity Underwriting & Placement
Mergers
Corporate Restructuring
Syndicated Loans
Project Listing Finance
Private Equity
Acquisitions

Commercial and SME Banking

Summit Bank Commercial & SME Division targets Medium Sized Companies with a
turnover of at least PKR 25 50 million. We have a centralized set up and have the
ability and the resources to meet the needs of your business with our pro-active,
responsive and experienced Relationship Managers who are committed to understanding
your business. If you have a small or medium-sized business, SMBL can assist you with
the right mix of banking services that will help you manage and grow your business.
Summit Bank experts will facilitate you in the varied financial situations that you come
across.

Summit offer financing for the following:

Working Capital Financing

Procurement of Inventory
Receivables financing
Procurement of Machinery
Expansion of production facilities

17
 BMR
Import / Exports
Guarantees

Visa Debit Card

Summit Visa Debit Card welcomes you to a world of privilege and pleasure. Be it
shopping, dining or travelling, Summit Visa Debit Card lets you do it all, with ease and
panache. With the accessibility one aspires for and the convenience one desires, Summit
Visa Debit Card redefines purchasing pleasure.

Visa Debit Card Classic

Combining domestic convenience with international luxury, Summit Visa Debit Card is a
perfect alternative to cash. As the most versatile payment tool in the market, it
incorporates the benefits of flexibility, security and incomparable convenience, and is
your gateway to unparalleled rewards.

Summit Visa Debit Card also opens up avenues to a world of Electronic Banking
services. Now you can pay your bills, transfer funds, monitor your account, purchase
prepaid airtime and do a lot more, all with your Summit Visa Debit Card. Offering you
the highest value for the lowest prices, this Card empowers you with world class
purchasing convenience.

It is as simple as Shop Swipe Sign

Benefits

Worldwide acceptability
Flexibility of usage
Complete personal financial management
Security, Reliability, Convenience
Insurance
Vast privileges /unique benefits
Zero loss liability
Flexible daily spend limits
24 Hr emergency helpline
Competitive rates
Annual Fee Waiver for the first year
Countless deals / discounts/ packages both locally and internationally
Access to electronic banking services
E Alerts
Funds Transfer Via ATM
Mobile recharge Via ATM
Utility Bill Payment via ATM

18
Visa Debit Gold Card

Summit Visa Debit Gold Card grants you access to a vast bundle of Gold privileges and
benefits. As our preferred customer, you get a superior level of service along with an ease
to purchase all that you like, effortlessly and conveniently. Exciting domestic deals and
enticing international packages guarantee you the highest level of purchasing pleasure.

Summit Bank now introduces the Cash Back Card! With SMBL Visa Debit Gold Card,
you are rewarded every time you shop. When you make a purchase, you get a 5 % cash
back* if your shopping ranges between Rs.3, 000 to Rs.10, 000 every month. This Card
not only offers you ultimate in purchasing convenience but also rewards you for it. No
matter what you buy and with no inhibiting terms & conditions, SMBL Visa Debit Card
is not just an ordinary payment tool but a truly rewarding experience. To avail your share
of this experience, please dial 0800-24365 or visit Summit Bank Branch closest to you.

Cash Back Features

5% CASH BACK* applicable wherever you shop

Applicable on spend amount as low as Rs.3,000/-
Maximum spend limit Rs.10,000/-
The cash back amount will be credited to your account at the start of the
following month (if criteria met)
Applicable only on Gold Card Holders maintaining minimum average balance of
Rs.300,000
Overdraft Facility also available

Cash Back Benefits

No astronomical spend criteria

No hidden conditions
Flat 5% cash back* across any and all retail outlets
No barriers to minimum or maximum transaction counts
Applicable on spend limits as low as Rs.3,000
Get Rs.500 on spending Rs.10,000 anywhere in a whole month
Such a Deal has never been offered previously on Debit Cards

Added Benefits

Great local & international Privileges

Visa Global Customer Assistance Services (GCAS)
Lost/Stolen Card Reporting
Cardholder Inquiry Service
More discounts and deals to choose from
Lowest charges than currently being offered elsewhere
Access to a host of electronic banking services

19
 Annual Fee waiver for the first year
Funds Transfer Via ATM
Mobile recharge Via ATM
Utility Bill Payment via ATM

Remittance
Summit Bank offer quick and convenient delivery of cash over the Counter services in
association with Western Union. No matter where you are around the globe, if there is
Western Union around, you can transfer funds to your loved ones, in no time. This
payment can easily be picked up in a matter of moments at dedicated Western Union
counters in our branches. No account at Summit Bank is required for this service.

Amanat Cash

Summit Bank is pleased to introduce Amanat Remittance services, namely AMANAT

CASH

Summit Bank is affiliated with PRI (Pakistan Remittance Initiative) which is a joint
venture of ministry of finance and State Bank of Pakistan. It has affiliation in all 165
branches and over 850 partner payout locations nationwide. All the branches are online.

Summit Bank Ltd has the ability to transfer funds into beneficiarys account instantly
through IBFT and RTGS enabled Banks (which covers over 90% of account holders in
Pakistan). Funds will be directly credited to beneficiary accounts in Fast, Free & Secure
manner.

Amanat Cash Services include the following:

1. Cash to Account (Instant Bank Transfer)

2. Cash-to-Cash Money Transfer (Instant Cash over Counter)
3. 9 am to 8 pm remittances disbursement services at selected branches in all major cities
to facilitate the beneficiary to collect the payments over the counter, which no other bank
offers.
4. Cash-to- AMANAT Card (Remittance Card Service for the Beneficiary)
5. Cash-to-Cash Home-delivery Service

Xpress Money

Xpress Money is one of the largest money transfer companies in the world, with an
established remittance network of 14 years. Xpress Money is present across 170,000
agent locations in 150 countries. www.xpressmoney.com

20
Summit Bank has collaborated with Xpress Money to ensure you get the fastest and most
secure money transfers. We take pride in ensuring that it reaches the beneficiary safely
and in a matter of moments. With the huge network of Xpress Money across the globe,
you can transfer money in the most convenient and affordable manner possible.

Learning of 6 weeks internship

Departments I have spent time in Summit Bank Limited; Abdali Road Multan
Branch:

Customer Services Department

Clearing Department

Credit Department (Overview)

Customer Service Department

The department that is responsible for opening and closing of an account assumes
immense significance and holds a central place in the basic banking operations. In this
department I worked under Sir Waheed Hussain and Sir Akbar Nazar; who taught me
about following areas of the department:

Accounts can be of the following types:

Individual

For individual account opening you have to fill the account opening form. CNIC copy
would be required and a utility bill for address conformation.

Sole Proprietor

For the sole proprietor account business account opening form is filled by the customer. It
also requires NTN, copy of CNIC and 3 Letter heads one containing request, second
instructions and third is the proprietorship letter.

Partnership

Partnership can be registered or unregistered. For unregistered partnership form is filled.

CNIC, NTN, a partnership deed on 500 stamp paper and partnership letters are required.
For registered partnership all the documents of unregistered partnership with an
additional document Form C (Certificate of Incorporation) by SCCP is required.

21
Private Limited and Public Limited

For them account opening form is filled. Both requires account opening request on letter
head, Board of resolutions on letter head, Form C, Form 29 issued by SCCP and 6 month
attested and Memorandum article and accordance. For public limited an additional
Certificate of Business of Commencement is required.

Procedure of Opening an Account

The Account Opening Form:

When a client comes to the bank, and makes a request for opening of an A/C. The officer
first gave him a prescribed application form.

Completion of the Form:

The name, occupation, and complete address of the person opening the account are
written in the columns provided in the form. One signature of the person is taken on the
face of the form and one is taken on the backside. These signatures should be usual
signatures and he would operate the account with them in future.

Specimen Signature Card (S. S. Card):

The signatures of the client are obtained on a specimen Signature card. These cards are
obtained in duplicate with two signatures on each card from the customer. Every time a
cheque is received for a payment from the client, the signature on the cheques are verified
by comparing them with the S.S. Card.

Issuance of Account Number:

When all the formalities are completed then the final approval of account has to be taken
from the Branch Manager. After obtaining approval of the branch manager an account
number is allotted to the customer and all the information is entered into the computer.
Then that account number is printed on the Cheque Book, S. S. cards and account
opening form.

Issuance of a Cheque book:

After opening an A/C with the bank, the A/C holder once again makes a request in the
name of bank for the issuance of a cheques book. The A/C holder mentions title of A/C,
A/C number, sign it properly and mentions the no of leaves he requires. Normally
Summit Bank issues a cheques book having at least 25 leaves. Every cheques book also
contains one leaf that is used for another issue of a cheques book

22
Entry of Cheque Book:

Before issuance of a cheques book, the employee performs certain functions. They
include:

Stamping every leaf if the account is photo account

Enters it in the Cheque book issue register.

After entry in the manual register, and in the system the employee issues the
cheque book to the A/C holder after his/her signature on the register.

Recording in Computer:

After opening of account, all information regarding the account is entered into the
computer. Record of all the transactions regarding the account of a customer is kept
updated in the computer.

Procedure of Closing an Account

The procedure followed for the purpose of closure of an account is described in the
following steps. The client who wishes to close an account first has to give an
application, duly signed on the pre-printed application of the bank. The forms include
reason for closing the account and other relevant information. The cheque book and atm
card are taken back from the customer. The cheque book is checked leave to leave. The
customers are not charged for account closing. If the account is the saving account than
manual profit is credited.

Captured ATM Cards

ATM cards when captured in ATM of SMBL are returned to the concerned customer on
verification. In both cases, either the customer belongs to SMBL or any other bank, CNIC
copy is demanded from customer for bank record, CSO fills the ATM captured card form
and customer signs that form in presence of CSO. For the record purpose, ATM cards
copy is also kept with bank.

If the card which is captured is of our branch, the branch will hold the card for 8 days.
The customer can ask for return within these days after that the card will get expired. If
the card captured is of some other branch of Summit bank, the branch will hold it for 2
working days after which it will send it to the branch where the card was generated. An
interoffice memorandum and a copy of card are made for record keeping. If the card
captured is of some other bank, than the branch will hold the card for 2 working days.
After 2 days they will send it to their card facilitation center, which will contact the card
facilitation center of the other bank (example HBL) and they will further send it to their
branch.

23
Cheque Books

Summit Bank offers first free cheque books on Summit Current Classic, Assan account
and Senior Citizenship Account. If the cheque book isnt collected in first 15 days, a call
reminder is given to the customer, after 30 days a letter as a reminder is given and after
90 days the cheque book is destroyed. An interoffice memorandum is maintained for
record keeping. The data relating cheque books are maintained in a register and through
MIS (Management Information System). The cost of each leave of cheque book is 5
rupees. The overall cost of the cheque book depends on the number of leaves it has. They
are offered in 10, 25, 50,100 and 500 leaves. The cheque books are given free if the last
month Average Balance is maintained. A free cheque book is given in current classic and
gold loan, if the last month average balance is maintained 50,000. For Simple Saving,
Young Bee and Hamara Saving account it should be 5 lakh. For Daily Product and Senior
Citizenship account it should 25 lakh.

Dormant Account

If for a year no transaction is carried out by a customer in its account, the account is made
debt freeze and is called dormant. After this the person is reached by letter. For the
activation of the dormant account the customer CNIC copy is required. Person request is
signed and the reason is notified. One debit transaction is made from the account on the
same day. If the transaction is not made it will get deactivated again.

Lockers

Summit Bank offers lockers as small, medium and large. The key deposit for a small
locker is 2000, for medium it is 5000 and for large locker it is 7000. The annual rent is
1000, 2000, 3000 for small, medium and large lockers. The insurance of the small locker
can be till 5 hundred thousand, for medium 1 million and for large 1.5 million.

Clearing Department

In clearing department I worked under Sir Faisal Saeed. One of the basic economic
functions of banks is to receive deposits and to honor cheques drawn upon them. So,
cheques are a most commonly used instrument for making payments by account holders.
Now the question arises that how these cheques & other negotiable instruments drawn on
one bank are deposited in other banks and money is transferred from one bank to another.
Clearing House has provided this facility. Clearing house facilitates different banks to get
their cheques drawn upon other banks to be cleared

Cheques lodged in clearing constitute two types of clearing

Outward clearing
Inward clearing

24
Outward Clearing

When cheques and other negotiable instruments drawn upon other banks like MCB,
ABN-AMRO of the same city (as Multan) are presented in Summit Bank Limited to
deposit them in the respective payees accounts, these instruments are lodged in outward
clearing of summit Bank limited.
When the cheques are presented in Summit Bank to be deposited in their respective
payees accounts, different stamps are put on cheques before their lodgment in outward
clearing.

Crossing the Cheques

Crossing means two parallel transverse lines, drawn across the face of the cheques with
or without words written in between them. Crossing may be general or special. In
clearing, cheques are crossed specially. Cheques are stamped with banks name between
two transverse parallel lines to constitute special crossing. After the cheques have been
crossed specially, the holder cannot receive payment except through the banker named on
the cheques. Basic advantage of crossing is to save the instrument to go it from illegal
hands. If, crossed cheques is lost or stolen, there is no risk of wrong payment. So it is an
effective means of minimizing the risk of loss or forgery.

Clearing Stamp

After the cheques have been crossed specially, clearing stamp is put on the cheques and
other instruments, with the following days date, as these cheques would have to be
presented in their concerned drawee banks on the subsequent day.

Endorsement Stamp
It means anything written or printed upon the back of an instrument. So, at the end, the
cheques are endorsed in full (endorsed specially) by putting the stamp with words
describing Payees account Credited in Summit Bank Limited, Abdali Road Branch
Multan.

After putting these three stamps on cheques & other negotiable instruments, they are sent
to NIFT (National Institutional Facilitation Authority) with Add List. NIFT after
segregating the cheques of different banks delivers them to their concerned banks, which
constitute the inward clearing for those (drawee) banks.

Inward Clearing

Cheques and other negotiable instruments (PO, DD etc.) drawn on Summit Bank
Limited, Multan, sent by other banks, constitutes the inward clearing of Summit Bank.
After having all the stamps and dates of cheques confirmed, the concerned drawers
accounts are debited (in Summit Bank Limited) and main branchs account is credited by
the total amount.

25
Collection (OBC)

When cheques and other negotiable instruments drawn upon other banks outside the city
(Multan) are presented in Summit Bank Limited, Abdali Road Branch, Multan to deposit
in payees accounts, then instead of clearing, these instruments are lodged in collection
and constitute Outward Bills for Collection OBC. Cheques of cities, where Summit
Bank Limited branch exists (e.g. Islamabad, Faisalabad etc.) are sent to that branch where
these cheques are lodged in is outward clearing. Otherwise, they are directly sent to the
drawee bank. Postage & other charges are deducted on account of payee according to
Schedule of Charges.

Credit Department

The credit department deals with giving credits to its clients. In credit department
relaxation is given to corporates on the dates of mark-ups and in return policy of the
credit in order to have a good experience with client so that next time when they want
financing they would go for the same bank.

Financial Analysis

Horizontal Analysis of Balance sheet

Heads 2014 2015

Assets
Cash and balances with treasury banks 100.00% 112.32%
Balances with other Banks 100.00% 66.69%
Lending to Financial Institutions 100.00% 224.60%
Investments 100.00% 171.10%
Advances 100.00% 106.17%
Operating Fixed Assets 100.00% 126.31%
Deferred Tax Assets-Net 100.00% 99.30%
Other Assets 100.00% 112.41%
Total Assets 100.00% 126.89%
100.00%
Liabilities 100.00%
Bills Payable 100.00% 178.16%
Borrowings 100.00% 196.57%
Deposits and other accounts 100.00% 113.80%
Sub-Ordinated Loans 100.00% 99.95%
Liabilities against assets subject to Financed Lease 100.00%

26
Deferred Tax Liabilities 100.00%
Other Liabilities 100.00% 105.71%
Total Liabilities 100.00% 129.61%
100.00%
Net Assets 100.00% 96.89%

Equity
Share Capital 100.00% 100.00%
Convertible Preference Share 100.00% 100.00%
Advance against subscriptions of Shares 100.00% 93.34%
Share Premium
Reserves 100.00% 97.54%
Accumulated Loss 100.00% 96.63%
Surplus on Revaluation of Assets-Net 100.00% 86.19%
100.00% 100.00%
Total Equity 100.00% 96.89%

Horizontal Analysis of Income Statement

Heads 2014 2015

Markup Income

Mark-up/Return/ Interest Earned 100.00% 108.96%

Mark-up/Return/Interest Expensed 100.00% 103.53%
Net Markup/Interest Income 100.00% 125.43%

Provisions against Non-Performing loans and 100.00% 1554.66%

advances-Net
Provisions for diminution in the value of 100.00% 78.85%
investments-Net
Bad Debts Written off Directly 100.00% 41.43%

Net Markup Interest Income After Provisions 100.00% 79.04%

NON MARKUP / INTERST INCOME

Fee Commission and Brokerage Income 100.00% 107.57%

Dividend Income 100.00% 211.40%
Income from dealing in foreign currencies 100.00% 105.50%
Gain Sales of Securities - Net 100.00% 180.79%
Gain on Disposal of Operating fixed assets - Net 100.00% 7.48%

27
Unrealized Loss on revaluation of Investments
Classified as held-for-trading-net 100.00% 1802.14%
Other Income 100.00% 117.65%

Total Non-Markup / Interest Income 100.00% 138.02%

Total Income 100.00% 100.00%

NON-MARKUP INTEREST EXPENSED

Administrative Expense 100.00% 104.37%

Other Provisions / Write offs 100.00% 19.43%
Other Charges 100.00% 102.71%
Total Non-Markup / Interest Expenses 100.00% -103.34%

PROFIT BEFORE TAXATION 100.00% 1947.92%

Taxation
Current 100.00% 112.29%
Prior Years 100.00% 3.07%
Deferred 100.00% 96.26%

Total Taxation 100.00% 100.00%

PROFIT AFTER TAXATION 100.00% 98.59%

Vertical Analysis of Income Statement

Heads 2015 2014

Markup Income

Mark-up/Return/ Interest Earned 10709851000 58.84% 9828995000 54.00%

Mark-up/Return/Interest Expensed 7653842000 42.05% 7392589000 40.61%
Net Markup/Interest Income 3056009000 16.79% 2436406000 13.38%

Provisions against Non-Performing loans and 1195844000 6.57% 76920000 0.42%

advances-Net
Provisions for diminution in the value of 375398000 2.06% 476099000 2.62%
investments-Net
Bad Debts Written off Directly 4166000 0.02% 10055000 0.06%

28
Net Markup Interest Income After Provisions 1480601000 8.13% 1873332000 10.29%

NON MARKUP / INTERST INCOME

Fee Commission and Brokerage Income 1272680000 6.99% 1183067000 6.50%

Dividend Income 79784000 0.44% 37740000 0.21%
Income from dealing in foreign currencies 534090000 2.93% 506237000 2.78%
Gain Sales of Securities - Net 2443376000 13.42% 1351481000 7.42%
Gain on Disposal of Operating fixed assets - 2895000 0.02% 38724000 0.21%
Net
Unrealized Loss on revaluation of
Investments
Classified as held-for-trading-net 13498000 0.07% 749000 0.00%
Other Income 104122000 0.57% 88503000 0.49%

Total Non-Markup / Interest Income 4423449000 24.30% 3205003000 17.61%

Total Income 5904050000 32.43% 5078335000 27.90%

NON-MARKUP INTEREST EXPENSED

Administrative Expense 5188247000 28.50% 4971020000 27.31%

Other Provisions / Write offs 8079000 0.04% 41573000 0.23%
Other Charges 30989000 0.17% 30171000 0.17%
Total Non-Markup / Interest Expenses -5211157000 - 5042764000 27.70%
28.63%

PROFIT BEFORE TAXATION 692893000 3.81% 35571000 0.20%

Taxation
Current 137032000 0.75% 122029000 0.67%
Prior Years 57000 0.00% 1855000 0.01%
Deferred 317601000 1.74% 329933000 1.81%

Total Taxation 454690000 2.50% 206049000 1.13%

PROFIT AFTER TAXATION 238203000 1.31% 241620000 1.33%

Vertical Analysis of Balance sheet

29
Heads 2015 2014
Assets
Cash and balances with treasury 10539924000 5.60% 9383948000 6.32%
banks
Balances with other Banks 2919394000 1.55% 4377298000 2.95%
Lending to Financial Institutions 1459868000 0.78% 650000000 0.44%
Investments 77557913000 41.17% 45329692000 30.54%
Advances 70554280000 37.46% 66454697000 44.77%
Operating Fixed Assets 9608669000 5.10% 7607167000 5.12%
Deferred Tax Assets-Net 5545433000 2.94% 5584805000 3.76%
Other Assets 10180214000 5.40% 9056687000 6.10%
Total Assets 188365695000.00 100.00% 148444294000.00

Liabilities
Bills Payable 2728797000 1.55% 1531639000 1.13%
Borrowings 49755998000 28.20% 25312661000 18.60%
Deposits and other accounts 119742108000.00 67.87% 105222446000.00 77.31%
Sub-Ordinated Loans 1497240000 0.85% 1497930000 1.10%
Liabilities against assets subject to 0.00% 0.00%
Financed Lease
Deferred Tax Liabilities 0.00% 0.00%
Other Liabilities 2693008000 1.53% 2547644000 1.87%
Total Liabilities 176417151000.00 100.00% 136112320000.00

Net Assets 11948544000.00 12331974000.00

Equity
Share Capital 10779796000 90.22% 10779796000 87.41%
Convertible Preference Share 2155959000 18.04% 2155959000 17.48%
Advance against subscriptions of 7006867000 58.64% 7506867000 60.87%
Shares
Share Premium
Reserves 1722341000 14.41% 1765785000 14.32%
Accumulated Loss 7430321000 62.19% 7689076000 62.35%
Surplus on Revaluation of Assets- 1158584000 9.70% 1344213000 10.90%
Net

Total Equity 11948544000 100.00% 12331974000

30