Professional Documents
Culture Documents
United Bank Limited Aiou Internship Report
United Bank Limited Aiou Internship Report
United Bank Limited Aiou Internship Report
TABLE OF CONTENTS
Objectives of Studying the Organization........................................................................................................................5
Product Lines................................................................................................................................................................13
1. Deposits...........................................................................................................................................................13
h) UBL Agricultural Loan.....................................................................................................................35
3. Remittances.....................................................................................................................................................37
a) Demand Drafts............................................................................................................................................37
b) Travelers Cheques.......................................................................................................................................37
c) Letter Of Credit...........................................................................................................................................38
d) Foreign Remittances....................................................................................................................................38
e) Swift System...............................................................................................................................................39
f) Mail Transfer...............................................................................................................................................39
g) Telegraphic Transfer...................................................................................................................................40
h) Pay Order.....................................................................................................................................................40
4. Miscellaneous..................................................................................................................................................40
a) UBL Tezraftaar...........................................................................................................................................40
c) Hamrah........................................................................................................................................................41
e) UBL E-Statement........................................................................................................................................42
Top Managers...........................................................................................................................................................45
Middle Managers......................................................................................................................................................46
b) Downward Communication.............................................................................................................................49
c) Chain of Command..........................................................................................................................................49
e) Delegation........................................................................................................................................................50
2. Remittance Department...................................................................................................................................55
4. Cash Department.............................................................................................................................................59
5. Deposits Department.......................................................................................................................................61
6. Advances Department......................................................................................................................................61
7. Computer Department.....................................................................................................................................63
a) Online branches...........................................................................................................................................63
b) Batch Branches............................................................................................................................................63
c) Manual Branches.........................................................................................................................................63
9. Accounts Department......................................................................................................................................65
a) People Resources.........................................................................................................................................78
b) Hardware Resources....................................................................................................................................78
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c) Software Resources.....................................................................................................................................79
d) Data Resources............................................................................................................................................79
e) Network Resources.....................................................................................................................................79
Sources of Funds...........................................................................................................................................................80
Generation of funds......................................................................................................................................................81
Allocation of Funds......................................................................................................................................................82
Balance Sheet................................................................................................................................................................84
Income Statement.........................................................................................................................................................85
Ratio Analysis...........................................................................................................................................................88
Horizontal Analysis..................................................................................................................................................89
Vertical Analysis.......................................................................................................................................................92
Conclusions.................................................................................................................................................................100
Recommendations.......................................................................................................................................................101
References...................................................................................................................................................................102
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The secondary purpose of this internship is to understand how the theoretical knowledge can be
applied to the practical situations and examine an organization’s financial issues and identify its
opportunities/ problems and also suggest corrective measures. This internship is also very
necessary to gain confidence and become aware of the mechanism of an organization. As an
internee I want to achieve following objectives during my internship and organization study:
11. To observe, analyze and interpret the relevant data competently and in a useful manner.
schedule banks in Pakistan declined from 487 to 195. In June 1959, Mr. Agha Hassan Abedi
decided to open a bank different from other to provide modern banking facilities to trade and
industry and to promote the habit of saving among common people. Necessary formalities have
been compiled for registration certificate to perform business to STATE A\BANK OF
PAKISTAN for permission. After all these formalities on 7 th November 1959, UBL came in to
existence as a schedule bank. Head office was established in New Jubilee Insurance House;
I.I.CHUNDRIGAR ROAD KARACHI. It was registered as Joint Stock Company. The bank
was incorporated with an authorized capital of Rs.20million, which was later rose up to
Rs.96million.
Mr.I.ICHUNDRIGAR was its chairman who died in December 1960 and was replaced by
Mr.Habib-I-Rehmat. Mian Shafique Saigul was its managing director who was replaced by
Mr.Agha Hassan Abedi in 1962, after nationalized MrA.K Yousaf was appointed as managing
director for a short while and later on designated as president; he was replaced by Mr.Aia-ud-din
in on 1st January 1997.Progress of this estimated institute could be measured in terms of deposits
and number of branches opened. UBL have been ranked as number three banks in Pakistan in
terms of deposits and branches.1
In 1963 first overseas branch was opened in London, in 1966 two branches in Bradford and
Birmingham were also opened in 1967 Dubai and Abu Dhabi branches were opened. More
important thing is that UBL is pioneer in computerization of banking. Its larger branches are
fully computerized. Saving and current deposit art computerized in almost all branches. Now
UBL is on the road of growth with reference to market share and network.
Consensus on the origination of word “Bank” is not yet reached at. Some author’s opinion is that
this word is derived from the words “Bancus” or “Banque”, which mean a bench and they further
relate banking business inception to Jews in Lombardy. Other authorities state that the word
“Bank” is derived form the German word “Back” which means “Joint Stock fund” and later on
1
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due to German occupation of Italy, this word was Italianated into “Bank. Authors quote
Babylonians (few quotes Chinese) who developed banking system as early as 2000. B.C1
UBL is one of the largest commercial banks in Pakistan having more than 1,000 branches inside
the country. Its 15 branches outside the country are in the United States of America, Qatar, UAE,
Bahrain, and Republic of Yemen. It also has representative offices in Teheran, Iran, and Almaty,
Kazakhstan. Agha Hasan Abedi founded the bank in 1959. In 1971 the Government of Pakistan
nationalized it. In 2002, the Government of Pakistan sold it in an open auction to a consortium of
Abu Dhabi Group and Best way Group. Since its privatization the bank has been successfully
turned around and remains a robust and strong performer in all major segments of its operations.
The Bank’s principal activities are to provide commercial banking and other financial services.
The Bank offers personal banking, cash management, retail loans and other financial services.
These services include deposits, savings/current bank account, vehicle loans, personal loans,
retail trade finance, global banking, lending to priority sector and small scale sector, foreign
exchange and export finance, corporate loans and equipment loans.
UBL is a commercial bank, which transacts the business of banking in accordance withthe
provisions of BCO, 1962. Section 7 of the Act authorizes banks to engage in the prescribed form
of business. In the light of this section UBL’s functions can be categorized as under:
Agency services
General Utility Services
Underwriting of loans raised by the Government or public bodies and trading by
corporations etc.
Providing specialized services to customers, and
Hajj-related services
Horizontal
Analysis (%)
Total Assets 100 104 117 138 148
Deposits 100 100 108 127 134
Advances 100 122 143 154 187
Reserves 100 125 128 146 184
Investments 100 105 94 141 114
These branches are playing a significant role in channeling home remittances and foreign trade
of Pakistan.
SUBSIDIARIES
UBL has four subsidiaries, namely:
United National Bank Limited (UNB), UK
United Bank AG (Zurich), Switzerland
United Executers and trustees Company Limited
United Bank Financial Services (Private) Limited
contributes labor and expertise to an endeavor. Employees perform the discrete activity of
economic production. Of the three factors of production, employees usually provide the
labour.Specifically, an employee is any person hired by an employer to do a specific "job". In
most modern economies, the term employee refers to a specific defined relationship between an
individual and a corporation, which differs from those of customer, or client.The relationship
between National Bank of Pakistan and its employees is usually handled through the Human
Resource Management & Administration Group & Employees benefit disbursement & trustee
division. These groups handle the incorporation of new hires, and the disbursement of any
benefits which the employee may be entitled, or any grievances that employee may have.
There are differing classifications of workers withinUnited Bank Limited, these are:
Permanent
Temporary / On Contractual
Outsourced
The Employees of United Bank Limited are organizing into trade unions, which represent most
of the available work force in United Bank Limited. These trade Unions utilize their
representative power to collectively bargain with the management of bank in order to advance
concerns and demands of their membership.
PRODUCT LINES
The most precise definition of product is anything capable of satisfying needs, including tangible
items, services and ideas. In marketing,a product is anything that can be offered to a market that
might satisfy a want or need.2 Since 1575, the word "product" has referred to anything produced.
Since 1695, the word has referred to "thing or things produced”. The economic or commercial
meaning of product was first used by political economist Adam Smith.In general usage, product
may refer to a single item or unit, a group of equivalent products, a grouping of goods or
services, or an industrial classification for the goods or services. The consumer banking products
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include personal accounts, credit cards, loans, investment products, treasury products and many
more. The National Bank of Pakistan offering for sale several related products individually,
which is commonly known as product lining. A product line is defined as “A group of products
that are closely related because they function in a similar manner, are sold to the same customer
groups, are marketed through same types of outlets, or fall within the given price ranges”. 3The
followings are the main consumer banking products of UBL.
1. DEPOSITS
Our mission is to serve all your corporate needs and ensure your full satisfaction through product
innovation, personalized banking, and top notch service.
The CBG department of UBL defines corporate banking in Pakistan. Amongst the local banks
UBL CBG is the pioneer in providing innovative solutions to its diversified and satisfied
customer base. UBL CBG is considered to be a major player in the financial market of Pakistan.
The Corporate Banking Group focuses on attracting and servicing large portfolio customers. Our
forte is providing exemplary customer service using the "Single Window" concept and product
superiority. The Relationship Management team manned by highly qualified individuals from the
industry has steadily expanded our customer base and continues to enhance our cordial relations
with our esteemed clients.
Despite the sluggish economic growth in recent years, UBL outperformed all the other local
banks in the corporate banking sector primarily due to CBG's emphasis on establishing and
enhancing relationships with foreign/local blue chip and middle market customer’s thereby
capturing significant market share.
UBL's appetite for large exposures coupled with dedicated Structured Finance Unit, and an
innovative team of professionals having extensive experience of Corporate Banking gives it the
right platform to succeed in todays competitive and a demanding environment.
The success of CBG has been established from the fact that UBL received the 'No.1 Euro money
2000' Best Local Bank award and recognized it to have out performed all other banks. In year
2000, UBL was also voted as the best Corporate Bank by the customers of a major foreign bank
in a survey. Aggressive marketing combined with professionalism has led to an increase in
UBL's market share with top corporate customers and in some cases replacing Foreign Banks.
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Presently, its portfolio includes the quality names in the country, which were initially confined to
foreign banks only.
A) UBL BUSINESS PARTNER
The UBL business Partner account allow users to Access their account from over 921 online
branches in over more than 400 cities all across Pakistan for unlimited online transactions. With
UBL Business Partner, customer’s account moves with them. Wherever they go, the Bank will
follow. It has following features:
o Speedy clearing and collection of any non UBL cheque in any Online UBL
branch
If you choose to keep a deposit in a secured savings account which also gives an attractive rate of
return, then UBL’s PLS Savings Account will serve all your financial needs. By keeping your
deposits in UBL’s PLS Savings Account you can also avail the following services:
o No limitation on withdrawals
o Share of profit is credited on half-yearly basis
o Profit is calculated on monthly balance
o UBL offers free accidental and permanent disability insurance to individual and
joint account holders
Access your account from more than 921 online branches in 400 cities and towns across
Pakistan. Our network is growing at an amazing pace and now you can avail services like:
o Issuance of Pay Order, Demand Draft, Money Transfer & Telegraphic Transfer
o Country Wide Instant Funds Transfer
o Country Wide Instant Deposit / Withdrawal (both Cash & Cheque)
o Issuance of Statement of Account/ Balance Inquiry
o Stop Payment of Cheque
o Speedy OBC process for cheques of other banks within & inter city
o Now customers can deposit all UBL and non UBL cheques in any online UBL
branch for clearing / collection.5
o The minimum initial deposit at the time of account opening is to be Rs. 1000/-.
o Basic Banking Account will be a current account.
o There is no minimum balance penalty on UBL BBA accounts, however all
accounts having nil balance for a continuous six month period shall be closed.
o All Business Partner waivers allowed if minimum balance requirement condition
as per SOC is met by the account holder.
o Maximum of two deposit and two withdrawals (cash or clearing) per month are
allowed free of charge. However, any transaction (cash or clearing) after those
mentioned above will be charged a flat fee of Rs. 50/-, in addition to the regular
charges of services as per SOC. This charge will be system generated end of day,
once the customer exhausts his free transaction limits.
o BBA customers will be allowed unlimited free ATM withdrawals from UBL’s
own ATMs. However, withdrawals from other banks’ ATMs will be charged as
per the existing SOC (currently Rs. 15/- per transaction). Annual fees including
issuance and renewal of ATM card will be charged as per existing SOC.
o All other banking services provided will be charged as per the prevailing SOC.
o The statement of account will be issued once a year for UBL BBA customers in
June. Issuance of duplicate statement will entail a charge of Rs. 50/- as per SOC.
o Like the regular Current accounts, UBL BBA will also be Zakat Exempt accounts.
Any existing customer wanting to convert his/her checking account into Basic Banking
Account can do so by giving a written application to the Branch Manager upon which existing
account will be closed and a new UBL BBA account will be opened and a new account number
will be provided to the customer after due account opening procedures, including submission of
CNIC, if not provided earlier. The deposit in the previous account will be transferred to the
newly opened UBL BBA. Charges for closing any existing account shall be recovered as per
SOCs.6
UBL has introduced a new checking account ideal for small investors, traders, businessmen and
customers from middle income group.They can now afford an amazing rate of return plus value
added benefits only available from the UBL UniFlex PLS Savings Account.
Funds Transfer (IBFT), clearing, collection, Online banking, Tez Raftaar, Tez Ibex,
MT/DD/TT/PO/Online (UniRemote), RTC, etc. The Bank will charge a sum of Rs. 100/-
per transaction for any withdrawal above the threshold of three debit transactions in one
calendar month. However, there is no limit for credit transactions in a month.
o All single debit incidents to an account will be considered as separate transactions except
deductions by the bank for charging service fee, Withholding Tax and Zakat deductions.
o All transactions, including the three withdrawals allowed will be charged as per the
Schedule of Bank Charges (SOC).
o The UniFlex Account Holder shall be required to maintain the minimum balance
requirement of Rs. 10,000/- during each calendar month. Service charges where the
average balance during the month is less than Rs.10,000/- shall be applied as per the
Schedule of Bank Charges (SOC).7
o Save Money!
o Save upto Rs. 2400/- with your eTransaction Package which includes
o A branch Account with all features of a current account (including checkbook, Visa
ATM/Debit Card, etc.)
o Free Premium Internet Banking Access -- Save up to Rs. 1200/year in subscription fees
o Free Premium Mobile Banking Access -- Save up to Rs. 1200/year in subscription fees 8
S ECURITY
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UBL understands the value of your hard earned money and continues to deliver on the promise
of safety and security. UBL's A+ credit rating by PACRA ensures a secured investment for your
money.
E ASY A VAILABILITY
UBL Profit CODs are available across the nation at 921 online branches in more than 400 cities
across Pakistan. Simply walk into your nearest online UBL branch and make a smart investment
through Certificate of Deposit (COD).
o You can get your TDR en-cashed at any time before maturity period.
o Avail different attractive rates depending on the tenor you choose.
o Get the pleasure of availing the best rates of return in the market.
o Avail the services and facility of 9 - 5 non stop full service banking in all UBL
branches (over 1000) across the country.
o UBL offers free accidental and permanent disability insurance to individual and
joint account holders10
o Choose from different range of currencies i.e. US Dollars, British Pounds, and
Euros etc.
o There are no cash handling (Cash Deposit & Cash Withdrawals) charges from the
customers.
o Avail different attractive rates depending on the currency you choose.
o Get the pleasure of availing the best rates of return in the market.
o Unlimited withdrawals and deposits, making it easier for you to fulfill your
routine business needs.
o Avail the services and facility of 9 - 5 non stop full service banking in all foreign
currency handling branches such as foreign currency traveler cheque and demand
draft issuance against cash and foreign currency cash deposits and withdrawals
o You can withdraw funds in either foreign currency or in Pakistan Rupees,
whatever your requirement may be.
o UBL offers the widest reach across the country with an increasing number of
more than 350 foreign currency dealing branches.
o You get to take your profit home every six months.
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o Zakat exempted
o UBL offers free accidental and permanent disability insurance to individual and
joint account11
o Choose from different range of currencies i.e. US Dollars, British Pounds, and Euros etc.
o Term deposits in foreign currency are offered for the following periods of maturity with
variable rates of return:
Three Months
Six Months
Twelve Months
o There are no cash handling (Cash Deposit & Cash Withdrawals) charges from the
customers.
o Avail different attractive rates depending on the currency you choose.
o Get the pleasure of availing the best rates of return in the market.
o Flexible options of rollover or renew the TDR at the time of encashment.
o Avail the services and facility of 9 - 5 non stop full service banking in all foreign
currency handling branches.
o UBL offers the widest reach across the country with an increasing number of
more than 350 foreign currency dealing branches.
o You can withdraw funds in either foreign currency or in Pakistan Rupees,
whatever your requirement may be.
Zakat exempted
For all FCY Term Deposits, fixed rate of return on booking month's rate.
Special Rates available from for USD 500,000 and above or equivalent.
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Welcome to the world of UBL Credit Cards. Pakistan’s 1st Chip Credit Card that guarantees you
both enjoyment and high value. It assures you global acceptability in more than 22 million
establishments worldwide in 130 countries and in more than 12, 000 outlets within Pakistan.
CHIP based credit cards have globally proven to be the most secure way of conducting credit
card transactions. This unique high tech CHIP guarantees your financial security .
Being different was never so easy! Now UBL Credit Card gives you the flexibility to make a
statement by letting you design your credit card in almost any manner you want. Galleria, by
UBL Cards is Pakistan’s first picture credit card that gives you freedom of choice and expression
P a g e | 24
as you can now customize it with your favorite image and make your credit card as unique as
you are.
Express your individuality. Add a personal touch. Keep a loved one close to your heart. Or
simply make a statement.
Personalize your card with a picture of your choice on it. Choose whatever you think defines you
or represents your personality, your passions, your style or your likes. Perhaps you could put up
pictures of yourself, your loved ones or anything you please. It’s entirely up to you. For the first
time ever in Pakistan, a card that lets you express your true self.
The process is simple, the options are many, and the result is uniquely you.
If you are an existing UBL Credit Card Member and you need to convert your UBL Credit Card
to UBL Galleria Picture Card, simply click on the link 'UBL Credit Card Member' and design
your Galleria Picture Card.
If you are a Basic card member, download and fill the card conversion form. In case you are
uploading picture for the Supplementary Card Application, download and fill the Supplementary
Form. Drop your Conversion From or Supplementary Form in the drop box placed at UBL
Branch near you to process your Galleria Picture Card Application. You can also obtain the
application forms from UBL Branches and Customer Service Centers.
If you are applying for UBL Galleria Picture Basic Card, contact our sales representative to fill
the Galleria Application Form. After filling out the Galleria Application Form for Basic card,
keep the App-Track No. with you which will be required for uploading the picture for Galleria
Basic Card.
If you are applying for UBL Galleria Picture Supplementary Card, visit our branch or contact our
sales representative to fill the Supplementary Card Application Form. After filling the Galleria
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Application Form for Supplementary Card, keep the Application Reference Number with you
which will be required for uploading the picture for Galleria Supplementary Card.
After submitting your Galleria application form(s), you can then upload your picture using the
link 'New Galleria Application'.
Constantly worried about fuel prices and maintenance cost of your car?
The UBL Credit Cards team now brings Pakistan’s 1st Auto Credit Card - UBL PSO Auto Credit
Card. Keeping in mind the success story of our standard UBL Card, with annual fee wavier and
free liters of fuel as reward against spend, we are introducing a complete auto card solution with
PSO with high value incentives and discounts on fuel and other automobile related products.
This card is clearly aimed at offering a value-for-money proposition, with a touch of both
incentive and functional appeal as well as a clear objective of making UBL PSO Auto Credit
Card, a truly preferred card in the market.
Positioned as Pakistan’s First Auto Credit Card, it will offer 5% Free Fuel on PSO stations* and
1% on non PSO outlets. Card members can also avail various exciting discounts and benefits
given below:
With so many features and benefits under its belt, UBL PSO Auto Credit Card is, without a
doubt, a "MUST HAVE" for everyone!!
More than just an ATM card, you can use your UBL Wiz everywhere VISA cards are accepted.
Whether you are using it online, paying for petrol, shopping or dining, you are accessing money
directly from your prepaid card, without having to visit the bank.14
o UBL's dedicated staff is at your service 24 hours a day, 7 days a week. You can
call our contact center at 111-825-888 (UAN), or you can simply pick up the
telephone placed next to all UBL ATMs and be instantly connected to our
customer service representative via a hotline facility.
The debit card facility is being offered in association with the Orix and VISA networks, which
means that you can use your UBL Wallet VISA to conduct a debit transaction at any outlet in
Pakistan that displays the ORIX or VISA logos.
The Orix network offers connectivity at more than 5,000 outlets across the country, whereas your
UBL Wallet VISA card is also acceptable at 22 million VISA merchant locations, local and
international.
Funds Transfer:
UBL Wallet VISA allows three kinds of instant funds transfer through UBL ATMs from your
UBL account:
On confirmation, the amount from the cardholder account is instantly transferred to the
beneficiary account.
UBL Address empowers you to become the proud owner of a home by offering a variety of
product and pricing options that are flexible yet affordable. So choose the best product option
and pricing to suit your needs. All product options are amortized and range over a tenor of 3 - 20
years.
B UYING A H OME
Why rent when you can buy? Buying a home of your choice has never been so easy. With a
maximum financing limit of 70% you can easily buy a house or apartment that best fits your
requirements. So go ahead and start the search for your dream home because with easy and
affordable installments you need not think of renting a house when you’ve got UBL Address.
B UILDING A H OME
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Have you ever settled for anything less than perfect? There’s nothing like building your perfect
home, your way. With every detail in place like the elegant French windows or the perfectly
manicured lush green lawn, just the way you’ve always imagined. By chalking out well planned
fund tranches at each phase of the building process, UBL Address brings you your dream house
one step closer.
F LOATING R ATE
In this option, you get a fixed rate for a period of 12 months, which gets re-priced annually.
(Upward or downward, only to the extent of Kibor).
Eligibility Criteria
Documentation Requirements
o Copy Of NIC
o Two recent Photographs each of primary as well as co-borrowers
o Signed Lou (Letter of Understanding), which states the applicable rate at the time
of booking of loan.
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o General Income Documents for Salaried and SEB/SEP are given below. However,
your exact Documentation Requirement as per your specific Segment &
Profession will be communicated to you by our respective ROs.
o Employment Certificate confirming last 12 months work experience
o Tax Document for the past 24 months
o Current Salary Slip
o Bank Statement for the last 12 months
o Last 3 years Tax Assessment Order or Registered Partnership Deed
o Bank Statement for the last 12 months
o Salary Slip/Salary Certificate
o Other Documents are required to substantiate the length of business
M ARKUP R ATES
Both Floating and Adjustable Rate Options are available. The Floating Rate Option is subject to
annual revision from the time of loan booking. Any change in the mark up rate may be either
upward or downward revision (if required) after every twelve (12) months from the date of the
booking of the loan(upward or downward only to the extent of Kibor).
Markup rates are calculated on the basis of the prevailing one year Karachi Inter-Bank Offered
Rate (KIBOR*) which is taken as the base rate. A margin that varies from one pricing option to
another is charged over and above the base rate, the details of which are as follows:
The applicable markup rate will be the rate prevailing at the month of booking. This will be
communicated to the applicant through the Repayment Schedule -
To know more about the applicable rates for various pricing options, please call UBL Phone
Banking at 111-825-888.
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* KIBOR is defined as the average rate “ask side” for one year tenure as published on Reuters
Page KIBOR or as published by Financial Market Association of Pakistan in case Reuters Page
in unavailable.1516
With UBL Business line, now you will surely say: “Ab Hui … Kamiyaabi Meri Manzill”.
FEATURES:
Utilize up to Rs.10 million:
Now, UBL Business line credit line is here to solve all your cash flow problems. You can utilize
up to Rs.10 million with the help of which you can now focus on your business expansion and
growth.
UBL Business line offers you the facility of availing a financing of up to 70 % of your property
value. Now that you can avail a higher amount against your assets, you can plan your growth and
expansion exactly the way you want to. In addition financing is offered to customers that are
already availing a similar facility from any other bank.
With UBL Business line, now you no more need to pay for the entire credit line that you own.
Business line gives you the facility to pay mark up only on the amount that you utilize.
F ASTER P ROCESSING :
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After completion of your documentation requirements, UBL Business line promises you a very
smooth and fast processing, hence saving you time and frustration.
W IDE A CCESSIBILITY :
UBL Business line’s availability in major cities like Karachi, Lahore, Faisalabad, Islamabad &
Rawalpindi, is complimented by UBL s countrywide branch network enabling our customer to
access his account, and deposit or withdraw cash, no matter where he stands within the country.
C OMPETITIVE R ATES :
At UBL, you come first, which is exactly the reason why we offer our customer such competitive
rates that would facilitate him in leveraging his skills to the maximum and in bringing about the
success that he deserves.
ELIGIBILITY CRITERION:
If you fall in the following criteria, then UBL Business line is just the right choice for you:
F LEXIBILITY
No fixed monthly installment.
Principal repayment at your convenience.
No prepayment penalty.
Markup only on utilized amount.
Worry free payment of bills, shopping, child’s education, short-term
business needs or just about any thing you can think of!
E MPOWERMENT
For the first time in Pakistan, you can now control your markup. Enjoy
lower markup on higher utilization of funds.
Markup calculated on daily outstanding balance.
Continuous line of credit.
C ONVENIENCE
Instant access to cash through the entire UBL network. You will be given
a cheque book and an ATM/Debit Visa Card which you can use at
900,000 ATMs and 22 million outlets worldwide.
Unsecured /clean lending, no collateral required.
UBL Netbanking
All UBL Cashline customers are automatically registered on UBL
netbanking and can avail numerous netbanking features such as:
Bill Payment
Funds transfer
Account update
Statement of accounts18
UBL Drive is a unique auto financing product which offers you features, options and flexibility
unmatched by any other bank, because at UBL, You come first.
N EW C AR F INANCING
UBL Drive allows you to drive away in your own car by making a down payment of just 15%
and to top that with low monthly installments.
U SED C AR F INANCING
With UBL Drive you can buy your favorite used car (up to 5 years old) at the most affordable
rates.
C AR R EPLACEMENT P LAN
Drive’s Car Replacement Plan is the slogan name for a premier auto financing product.
Customers who intend to avail loan facility from UBL Drive under this variant can readily have
their existing cars replaced after a year of financing.
P RODUCT F EATURES
AGRICULTURAL PRODUCTS
Farm Loans
Production Loan
Financing is available for Major and Minor crops across Pakistan. Main purpose of financing is
to facilitate farmers to purchase Agri Inputs such as Seeds, Fertilizers, Pesticides, Sprayers, hired
labor etc.
To purchase Tractors, Delivery Vans, Mini Trucks, Motor Cycle and other vehicles used for
marketing Agri Products
N ON F ARM L OANS
L IVESTOCK F INANCING
Dairy Farming, Meat Farming, Fattening of Animals, Rearing of Animals, Construction of
Sheds, Milk storage tanks, acquire and establish modern and efficient livestock facilities.
P OULTRY F INANCING
Poultry Farm structure and equipments, Hatchery farm structure and equipments, Feed Mills,
Purchase of Chicks, Feed, Medicines, Storage tanks, Cold storage, Construction of shed, etc.
F ISHERIES F INANCING
Fish seed, Fish feed, Manuring, Construction of pond, Curing and Dying by fishermen, etc.20
As more and more people start their own industrial units, the country will move steadily towards
economic self-reliance.21
3. REMITTANCES
A) DEMAND DRAFTS
Drafts drawn by one branch on another branch or on the Head Office of same bank or vice versa,
are not cheques or bills, as these have no distinct drawer and drawee. Section 85-A reads:
P a g e | 37
“ Where any draft, that is, an order to pay money, drawn by one office of bank upon another
office of the same bank for a sum of money payable to order on demand, purports to be issued by
or on behalf of the payee, the bank is discharged by payment in due course”.
Banker’s drafts payable to order on demand are within the protection of Sections 10 and 131-A
of the Negotiable Instruments Act. However, if a demand draft drawn on a bank by its own
branch bears a forged endorsement, the person in possession of it cannot compel that bank to pay
it. As far as possible the banker’s draft should be crossed and it should never be drawn payable
to bearer.
When a person requires a draft he should be asked to complete the prescribed application form in
which he should state the amount of the draft, the name of the payee, and the place of payment.
This application form should be signed by the purchaser or by those persons who have been duly
authorized to act on his behalf. When a customer requests his banker to provide him with a
banker’s draft, the amount of which is to be debited to his account, he should enclose with his
written request a cheque covering the amount of the required draft and other charges etc. payable
to banker.22
The United Bank Limited provides demand drafts at very reasonable rates with safety, speedy
and reliable way to transfer money. Any person whether an account holder of the bank or not,
can purchase a Demand Draft form a bank.
B) TRAVELERS CHEQUES
They are generally issued for the convenience of person travelling abroad, but some Pakistani
banks issue them in Pakistan currency also for use within the country as well. Before issuing, the
bankers receive an amount equal to the face value of the cheques, and also charge a small
commission. The travelers’ cheques are for fixed amount and are treated as Order cheques
payable only to the purchaser whose specimen signature appears on each traveler’s cheque itself.
Foreign currency travelers cheques are issued and encashed in accordance with the provisions of
the Exchange Control Regulation Act, 1947. While making payment, the paying banker must
insist that the holder signs in his presence.23
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The United Bank Limited provides their services for traveler’s cheque at very reasonable and
competitive rates.
C) LETTER OF CREDIT
Letters of credit are very useful instruments in facilitating commercial relations between
businessmen at various places. Letter of credit state the limit of the credit and the time during
which it is held at the disposal of the grantee, but they are neither negotiable nor transferable.
Letter of credit may be revocable. There are many kinds of letter of credit such as Revolving
credit, Back to Back credit, Claused credit etc.24UBL is committed to offering its business
customers the widest range of options in the area of money transfer. If you are a commercial
enterprise then our Letter of Credit service is just what you are looking for. With competitive
rates, security, and ease of transaction, UBL Letters of Credit are the best way to do your
business transactions.
D) FOREIGN REMITTANCES
To facilitate its customers in the area of Home Remittances, United Bank Limited has taken a
number of measures to:
The existing system of home remittances has been revised/significantly improved and
well-trained field functionaries are posted to provide efficient and reliable home
remittance services to nonresident Pakistanis.
Zero Tariffs: UBL is providing home remittance services without any charges.
Strict monitoring of the system is done to ensure the highest possible security.
Special courier services are hired for expeditious delivery of home remittances to the
beneficiaries.
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E) SWIFT SYSTEM
The SWIFT system (Society for Worldwide Inter bank Financial Telecommunication) has been
introduced for speedy services in the area of home remittances. The system has built-in features
of computerized test keys, which eliminates the manual application of tests that often cause delay
in the payment of home remittances. Using the UBL network of branches, we can safely and
speedily transfer money for our business and personal needs.
F) MAIL TRANSFER
A Mail Transfer is a form of remittance in which the amount remitted by a customer or a non-
customer is directly credited to the account of the beneficiary with another branch.Move your
money safely and quickly using UBL Mail Transfer service. And UBL also offer the most
competitive rates in the market. They charges Rs 50/- exchange rate and RS 75/- postage charges
on issuing mail transfer.When the money is not required immediately, the remittances can also
be made by mail transfer (MT). Here the selling office of the bank sends instructions in writing
by mail to the paying bank for the payment of a specified amount of money. Debiting to the
buyer’s account at the selling office and crediting to the recipient’s account at the paying bank
make the payment under this transfer. UBL taxes mail charges from the applicant where no
excise duty is charged. Postage charges on mail transfer are actual minimum Rs. 40/- if sent by
registered post locally Rs.40/- if sent by registered post inland on party’s request.
G) TELEGRAPHIC TRANSFER
Telegraphic Transfer is a form of remittance, which is advised by telegram, telex or fax
machines. The fundamental principles of such transfer are otherwise identical with the Mail
Transfer.It is the message, which is sent from one branch to another on the order of payer to
payee through wire. It is one of the quickest means to transfer fund through the use of
telex/fax/internet or cable. Payment to the beneficiary is affected directly by the drawee office
upon identification or through credit into beneficiary’s bank account. As such remitting office is
not required to issue any instrument payment to the remitter for delivery to the beneficiary.
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H) PAY ORDER
NBP provides another reason to transfer your money using our facilities. UBL pay orders are a
secure and easy way to move your money from one place to another. And, as usual, UBL
charges for this service are extremely competitive. The charges of UBL are very low all over the
Pakistan. It charges Rs 50/- for UBL account holders on issuing one payment order,and charges
Rs 100/- for NBP non-account holders on issuing one payment order. It charges Rs 25/- for
students on payment of fees of educational institutions. If some one want a duplicate of payment
order they charges Rs 100/- for UBL account holders and Rs 150/- for non account holders.
4. MISCELLANEOUS
A) UBL TEZRAFTAAR
UBL offers the most efficient and free remittance service to beneficiaries in Pakistan. With our
large network of branches, we are poised to offer you service almost at your door step.
UBL remittance service, TezRaftaar offers all overseas Pakistanis the fastest and the most
convenient delivery of their money to their beneficiaries in Pakistan. Best of all, TezRaftaar is
completely cost free and is available at all UBL Overseas branch network in the Middle East,
UK and US. This facility is also available at UBL’s correspondents (Banks/ Money Transfer
Cos) in Australia, Canada, Denmark, UK, USA, UAE, Saudi Arabia, Kuwait, Bahrain, Oman,
Qatar, Malaysia and Europe as per list available at Remitter Locator. 25
Money can now be INSTANTLY received through any branch of UBL in Pakistan. The remitter
can send the money either from any overseas UBL branch or through authorized Correspondent
Banks, Money Transfer Companies or Exchange Companies. The beneficiary, in turn, can obtain
cash up to Rs.500, 000/- over the counter.
Countries where the service is already available are Australia, Canada, Denmark, UK, USA,
UAE, Saudi Arabia, Kuwait, Bahrain, Oman, Qatar and Malaysia and Europe as per Locator list.
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The service is fast, dependable and hassle-free and the beneficiary does not need to have an
account at UBL. All that is required is a Remittance Reference Number and the beneficiary’s
original CNIC.
C) HAMRAH
UBL has always been at the forefront in identifying and meeting the financial needs of its
valued customers. UBL was the pioneer in introducing Rupee Travellers Cheque facility in
Pakistan, as early as 1971. In continuation of the same tradition, UBL in the shape of "Hamrah"
Rupee Travellers Cheque enhances this facility for the convenience of its valued customers by
offering denominations up to Rs. 10,000
UBL "Hamrah" has been designed keeping in mind, both convenience and security - be it
business, property, trade or personal needs. "Hamrah" Rupee Traveller Cheques are the ideal and
safest way of carrying cash when travelling anywhere in Pakistan.Hamrah RTC's are now
accepted at more than 2000 places such as hotels, shops, real estate agents, jewelers, car dealers,
etc. and of course at all our UBL branches.
S ALIENT F EATURES
Using UBL net banking, the customers have access to their bank accounts 24 hours a day, 7 days
a week and can keep a close eye on their account balances, print account statements, pay bills,
transfer funds, track purchases and schedule their recurring payments at the touch of a button and
much more.28
E) UBL E-STATEMENT
UBL is pleased to announce the launch of the UBL e-statement facility which makes it easier for
you to get your statement of accounts and automated transactional debit/ credit alerts right into
your inbox. Available for all Rupee and Foreign Currency Account holders, you now do not have
to wait for six months to receive a paper based statement of your account any more. All you need
to do is tell us the frequency of statements you require and we will ensure that it reaches your
inbox
Absolutely free of cost: you don’t need to pay any additional cost in order to get benefit from this
facility. UBL believes in providing value-added service to customers and all you need to get
started is your email address! Accessible when you need it: UBL e-statement provides you a
highly convenient facility to receive your statement anytime and anywhere in the world!29
P a g e | 43
a) The manner in which the function of banking, that is, the acquiring of deposits, the
investing or converting such deposits into earning assets, and the servicing of each
deposits, are performed.
b) The degree to which officers and employees contribute their talents to the progress and
welfare of the bank in discharging duties and responsibilities.
National Bank of Pakistan has a centralized type of management because all the decisions are
taken by the top management. The National Bank of Pakistan has four types of management
levels which are as fallows:
TOP MANAGERS
Top managers are responsible for making organization-wide decisions and establishing the plans
and goals that affect the entire organization. These individuals typically have titles such as
executive vice president, president, managing director, chief operating officer, chief executive
officer or chairman of the board. The NBP have its top management in their head office at
Karachi. They are responsible for making the plans and establishing goals the run their business
smoothly all over Pakistan & around the globe. Among seven member of group Chief Executive
is called the president. The bank has directors for superintendence and direction of its business.
The Government appoints six directors as members and one president. These members are also
responsible for making the policy of the bank.
MIDDLE MANAGERS
Middle managers include all levels of management between the first line level and the top level
of the organization. These managers manage the work of first line managers and may have titles
such as department head, project leader, plant manager or division manager.31 NBP divided his
management into various regions such as Rawalpindi region, Gujranwala region etc. In NBP,
regional management falls under this category. They are responsible for the planning,
organizing, leading and controlling of the resources and staff of the whole region.
branch managers of NBP fall under this category. These managers are responsible for planning,
organizing, leading and controlling the staff and all affairs of the branch.
The President of National Bank of Pakistan is ranked Top at the hierarchy. The other six
directors of National Bank of Pakistan are ranked second in the hierarchy. The Provisional,
Regional & Zonal chiefs are ranked 3rd, 4th& 5th respectively. The vice President & assistant vice
P a g e | 47
Presidents of National Bank of Pakistan are ranked 6 th& 7th respectively. The Officers Grade I, II
& III are ranked 8th at the hierarchy of National Bank of Pakistan. The lower level of National
Bank of Pakistan is consist of Clerical & non- clerical staff.
The organization chart & Organogram of National Bank of Pakistan Rawat Branch is shown on
Annexed IV & Annexed V at the end of this report. This chart defines the line of authority in the
branch and its departments. It is a sort of visual presentation of the organizational structure. It
specifies the duties and responsibilities of the personnel or staff of the branch.The purpose of an
organizational structure is to help in creating an environment for human performance. Although
the structure must define the task to be done, the rules so established must also be designed in the
light of abilities and motivation of the human recourse available. By analyzing the organization
structure of the branch following elements can be found in the structure.
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The Branch Manager of National Bank of Pakistan is responsible for all the affairs of the Bank.
All the decisions relating to Branch are made by him and the subordinates have to obey these
decisions. All the employees of the Bank are report directly to the Branch Manager. The branch
has two operation Managers. Operation Manager I controls Clearing house & Remittance
Department and Operation Manager II controls Deposits, Advance & Branch accounts
department. Both of them are report directly to the Manager regarding affairs of their
departments. The Chief Accountant controls Accounts department & is report directly to branch
Manager. The branch also has two cashiers responsible for cash & Pension disbursement
department reports directly to branch Manger. The BBO (Branch Back Office System) Operator
controls computer department of the branch and is report directly to Operation Manager I and
Branch Manager.
B) DOWNWARD COMMUNICATION
Operation Manager I
Operation Manager II
BBO ( Branch Back Office System) Operator
Chief Accountant
Cashier I
Cashier II
Clerk I
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Clerk II
Non Clerical Staff
C) CHAIN OF COMMAND
The chain of command is an unbroken line of authority that links all persons in an organization
and shows who reports to whom. By analyzing the organizational structure of the National Bank
of Pakistan Rawat branch it can be found that there is a scalar principle followed with in the
branch because each and every employee of the branch knows to whom they can report. The
authority and responsibility for different tasks and duties are different, as well as every one
knows the successive levels of management all the way to the top.
The chain of command illustrates the authority structure of National Bank of Pakistan Rawat
Branch. Authority is the formal and legitimate right of the manger to make decisions, issues
orders and allocates resources to achieve organizational desired outcomes. By analyzing the
chain of command of NBP, one can come to the conclusion that, as there is scalar pattern
followed at the organizational setup of NBP, therefore it is implied that everyone in his position
knows that what is one’s authority and what is the responsibility and the authority it allocated.
E) DELEGATION
Delegation is the process, which managers use to transfer the authority and responsibility to
position below in the hierarchy. Most organizations today encourage managers to delegate
authority to the lowest possible level to provide maximum flexibility to meet customer needs and
adapts to the environment. At National Bank of Pakistan Rawat branch Operation Managers have
some authority & responsibility relating to affairs of the Branch.
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As part of their daily business activity, banks receive cheques and other financial instruments
from their customers drawn on other banks, to be collected and credited to their accounts.
Similarly, banks receive cheques/instruments from other banks, deposited by customers of the
banks drawn on the customers of the drawee banks. Therefore, the banks act as Collecting Banks
when they send cheques/instruments for collection and as paying Banks, when they receive
cheques/instruments for collection from other banks. Since each bank receive and sends
cheques/instruments for collection to and from an number of banks, the process of settlement
would clearly be very cumbersome and time consuming if every cheques/instrument had to be
sent by the collection bank to each of the drawee banks or branch upon which different collection
items are drawn and to individually pay the proceeds to each of the bank sending
cheques/instrument in for collection. Therefore, the banks have evolved what is called the
Bankers Clearing arrangement.
The Clearing System enables cheques to be paid or cleared centrally and settlement made for
receivables and payables between the banks. The SBP co-ordinates clearing activity through its
offices, called the Clearing Houses, set up in big cities and towns. Where SBP does not maintain
its own office, some other bank, usually National Bank of Pakistan (NBP) performs this
function. But the clearing house facility is available only for cheques/instruments drawn on
banks situated within the same city/clearing house area.
All the banks operating in a city who are members of the Clearing House maintain an
account with the SBP’s Clearing House.
Every day representatives of all the banks in every city meet the Clearing House, first
meeting in the morning, at an appointed time, for the purpose of depositing their own
customers , cheques/instruments to be collected from other banks and receiving
cheques/instrument drawn on their account holders from the others banks.
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At the Clearing House accounts of all the banks are debited by the total amount of
cheques/instruments drawn on their customer’s accounts and credited with the amount of
their customer’s cheques/instruments drawn on other banks, as per the list of cheques
submitted by each bank.
The cheques/instruments received, also called Inward Clearing, and are taking back by
each bank to its bank/branch. The amounts of each cheques/instrument is debited or
recovered from each drawee customers’ account and credited to the Clearing House
account. Similarly, against the amount credited by the Clearing House as Outward
Clearing, the appropriate customers’ accounts are credited and clearing House account is
debited.
Any cheques/instruments received by a bank that cannot be paid, due to insufficient
balance in its customer’s account or for any other reason, are returned back to the
Clearing House and a credit is claimed and obtained there against.
The State Bank of Pakistan debit the account of each member of the clearinghouse with
the proportionate working expenses incurred on the operation of clearing house. These
expenses are very nominal.
The instrument along with pay-in-slip is retained while the counterfoil is given to the customer
duly signed. Then the following steps are to be taken:
1. The particulars of the instrument and the pay-in-slip or credit voucher are entered in the
outward clearing register.
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3. The register is balanced; the credit vouchers are balanced from the instruments and are
released to the respective departments against acknowledgement in the register.
5. The schedules are prepared in triplicate, two copies which are attached with the relevant
instrument and the third is kept as office copy.
7. The schedules and house pages are signed by the house in charge with branch stamp.
8. The grand total of the house page is taken and agreed with that of the outward clearing
register.
9. The instrument along with duplicate schedule and house page are sent to the main office.
10. The entry of the instrument returned unpaid is made in Cheques returned Register. If the
instrument is not to be presented again in clearing then a covering memo is prepared. The
covering memo along with returned instrument and objection memo is sent to the
customer who sent the same to his account.
3. The entry is made in the inward clearing register (serial no. Instrument no. Account No)
5. The instruments are scrutinized in each respect before honoring the same.
S PECIAL C LEARING
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In addition to the normal clearing function at Clearing house it is mutually agreed to hold an
extra clearing at the clearing house on the particular day and time which is known as “special
clearing” it is arranged due to the rush of work arising out of say, more Holidays declared by the
Central Govt. at a time, but normally special clearing is held on last working day of half yearly
and yearly closing i.e. 30th June and 31st Dec. every year.
2. REMITTANCE DEPARTMENT
The Remittance department deals with the transfer of money from one place to another. Funds
transfer facility or remittance of funds is on of the key functions of the banks all over the world.
Remittances through banking channels save time, costs less and eliminate the risks involved in
physical transportation of money from one place to another. National Bank of Pakistan transfers
money in the following ways.
Pay Order
Demand Draft
Mail Transfer
Telegraphic Transfer
Pay Slip
Call Deposit Receipt
Letter of Credit
Traveler’s Cheque
Responsible for money transfers, issuance of pay-orders & drafts, collection items,
maintenance of cheque books & ATM cards and all other counter specific products and
services
Ensure highest level of customer service in a professional and competent manner
Must ensure that the activities are carried out strictly in accordance with the laid down
procedures/processes, and SBP/Compliance guidelines
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Responsible for Cash, Clearing, Inland remittances including Demand Drafts and Pay
Orders
Ensure high standards of customer services within the assigned turn around time
Ensure compliance with SBP's regulations and internal controls
handling cash, clearing, local remittances, and other related activities at branch level
Remitter
Remittee
Issuing Bank
paying Bank
R EMITTER
One who initiates, or requests for a remittance. The remitter comes to the issuing or originating
branch, asks for a remittance to be made, and deposits the money to be remitted. The bank
charges him a commission for this service. He may or may not be the branch’s customer.
R EMITTEE
A Remittee is also called the beneficiary, or the payee. The person in whose name the remittance
is made. A Remittee is also the one who receive the payment.
I SSUING B ANK
The bank that sends or affects the remittance through demand drafts, telegraphic transfers, Mail
Transfers, Pay order etc
P AYING B ANK
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Paying Bank also knows as the drawee branch, the branch on which the instrument is drawn. It
has to make the payment (usually located in a different city or country).
K INDS OF R EMITTANCES
Transfer within the branch
Transfer from one branch to another
Transfer from one bank to another bank in the same city
Transfers from one bank to another bank in two cities.
4. CASH DEPARTMENT
All physical movement of cash in the bank is made through the cash department. As bank is
borrowing and lending institution, therefore cash is the top most priority of Bank. Another aspect
is that cash department is for the security purpose, security in a sense that there should be no
embezzlement of funds or in money leaded to bank by any party or person. The efficiency of
bank is also related to this department the more efficient the bank is the stronger and busy is the
cash department. Cash department perform following functions
Cash department owes its important to the fact that it is a major point of contract between the
bank and the customer, the bank’s most valued relationships. This department is the showcase of
the bank and conveys the first impressions about the bank’s commitment to professionalism in its
systems and procedures and to courteous and efficient customer service.
Collection of funds
Acceptance of deposits
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R ECEIVING O F C HEQUES
The cash is paid against the cheques of the client. The following points are important.
Cheque is drawn on same branch
Cheque is not post dated.
Amount in words and figure are same.
It should be bearer cheques so the word bearer should not cross.
V ERIFICATION OF S IGNATURE
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After receiving the cheques the cheques the operation manager verify the signature of the
account holder and the signature on the cheques. If the signature is not same it is returned back
otherwise forward to BBO Operator for posting.
P AYMENT O F C ASH
After posting the cheque the operation manager cancelled the cheque and returned back to
cashier. The cashier enters the cheque in cash paid registered and pays against the second
signature of receiver on the back of the cheque.
5. DEPOSITS DEPARTMENT
The primary function of National Bank of Pakistan is to accept and receive surplus money from
the people, which they willingly deposit with the Bank. Like all other Banks, National Bank of
Pakistan also take incitation to attract as much depositor’s as it can. The deposit department
accepts/collects deposit from accountholders.
The National Bank of Pakistan offer different deposit schemes to its customers, which includes
the following:
Current Deposits
PLS Saving Deposits
Fixed Deposit Account ( Time Deposits)
Foreign Currency Account
NBP Premium Aamdani
Foreign Currency Account
National Income Daily Account (NIDA)
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6. ADVANCES DEPARTMENT
The bank is profit seeking institution. It attracts surplus balance from the customer at low rate of
interest and makes advances at a higher rate of interest to the individuals and business firms.
Credit extensions are the most important activity of all the financial institutions, because it is the
main source of earnings. Advances department is one of the most sensitive and important
department of the bank. The major portion of the profit is usually earned through this
department. The job of this department is to make proposals about the loans; the credit
management division of head office directly controls all the advances.
The advances Department receive application from intending borrowers. After receiving
application the advance department processes it further. After analyzing and detailed
investigation, they decide whether to approve the loan or not. Some loan approvals are made by
the Manager of the branch within his powers as prescribed by the bank’s higher authorities,
while some loan applications are submit to higher authorities for their approval. Some advances
are of the following nature
The National Bank of Pakistan offer following products (Advances) to its customers
NBP Saibaan
NBP Advance Salary
NBP Cash & Gold
Students Loan Scheme
NBP Karobar
7. COMPUTER DEPARTMENT
This department is playing a very important role in making the banking procedures faster and
helping the bank for providing better services to its customers. The National Bank of Pakistan
has three types of branches in all over Pakistan, these included
A) ONLINE BRANCHES
The branches, which are directly, link with central computer AS-400, through wide area
networking through fiber optics. These branches have dumb terminal directly linked with central
computer.
B) BATCH BRANCHES
The branches where all transactions are carried out with the computer base system but these
branches are not connected to the central computer with wide area net working. Batch branches
are using three type of system, Branch Back Office (BBO) based on FoxPro, Branch Automated
System based (BAS) on UNIX, Branch Integrated System (BIS) based on FoxPro in Karachi
mostly branches are facing this problem. BAS was establish in the beginning while BBO is
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currently implemented now efforts are under way to convert all branches into Electronic Banking
System (EBS) which is used by online branches as this system does not require a person to
remain sitting till the branch closed its daily operation but the system automatically close it self
when the branch timing is over. The database in head office is also based on this system.
C) MANUAL BRANCHES
The branches where all transactions are carried out manually and records are maintained on
registers usually stored in big wardrobes. Manual branches reports Regional head office
regarding their daily transactions. In Regional head office through On Line, terminal data goes to
head office central computer; Except for branches those are On Line as they transfer there daily
data directly through there own terminal. As day-to-day, activities of all branches are recorded in
a central computer.
9. ACCOUNTS DEPARTMENT
Accounts Department of the bank can be considered the most important department. This
department is basically concerned with processes and activities of recovering, sorting,
summarizing and reporting data resulting from the whole day transactions of all the departments.
Actually the process of this activity starts from the preparation of all the required vouchers by
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different related departments. When these vouchers are prepared, these are posted into respective
computer terminals by the relevant departments. Before merging, a batch list is printed out by
Computer Department and duly checked by the respective departments. After this, merging stage
comes, after which a proof list is printed out. This is the stage, where Accounts Department
starts performing its function. Proof list is checked by the Accounts Department. The account
department prepare following vouchers and reports
Monthly Profit & Loss account- F48
General Ledger
General Ledger- Abstract
Check Book Issue Register
Western Union payments Register
Demand Notices
Miscellaneous Book
Bank Transfer scroll
Posting NBP Advance Salary
Daily Statement- F21
General Ledger- Head wise
Hash Value Register
End of Day register
Posting National Income Daily Account (NIDA)
Monthly return register
Charges A/c register
P-L-S Profit list
Weekly Telegram
Mail Transfer Register
Government Scroll
Provident file
Government Scroll Debit & Credit
Transfer Responding Advice Dispatched Register-F15
Cash Remittance IN
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The head of branch’s Accounts department is called Chief Accountant, who performs his
functions under direct supervision of Branch Manager. The Chief Accountant is responsible for
the central accounting records and controls over all financial transactions of the Branch. He also
directs a wide variety of accounting activities and meets important deadlines& analyzes and
interprets accounting data of the branch. The other responsibilities of Chief Accountant include:
Plans and directs the activities of Cashier, BBO Operator and clerical employees of the
branch engaged in the maintenance of a variety of accounting records.
Directs and participates in the development and revision of procedures in order to meet
requirements of law, provide services to Branch Manager, improve efficiency in branch
activities, and coordinate branch activities with those of other departments.
Directs and reviews the preparation of periodic and special financial statements, reports,
projections, and recommendations, on which important administrative decisions are
based.
Directs and reviews the study of new and revised laws, rules, and programs affecting the
central accounting system and records and installs or recommends changes as
appropriate.
Designing and operating a system to capture, record, process, and store all relevant
documents and information about the financial activities of the branch.
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Ensuring the integrity and reliability of the information system, and preventing fraud
from inside and outside the branch.
Preparing financial statements that are reported to Regional Management of National
Bank of Pakistan.
Preparing financial statements and accounting reports for distribution to the
branchManager for their planning, control, and decision-making needs.
The Chief Accountant with the help of branch’s clerical staff is preparing following
reports:
o Monthly Profit & Loss account- F48
o Daily Statement- F21
o General Ledger
o General Ledger Abstract
o General Ledger head wise
o Bank transfer Scroll
o Posting NBP Advance Salary
o Misc Book
o Posting National Income Daily Account (NIDA)
o Monthly return file
o Charger List
o PLS Profit list
o Weekly Telegram
o Government Scroll
o Government Scroll Dr & Cr
o Transfer Responding Advice Dispatched Register- F15
o Cash Remittance In
o Cash Remittance Out
o NBP General Account
o Clearing register
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Debit supplementary is used for debit voucher and credit supplementary is used for credit
voucher books and register maintained by bank are as fallows
1. Discount
2. Service charges
3. Commission from utility services
4. Salaries allowances & provident fund
5. Rent taxes insurance lighting
6. Profit paid on deposits and borrowings
7. Auditor’s fee & legal charges
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The most important record keeping and report generated by Bank’s Accounts Department is
Statement of the Bank.The statement of the bank shows the general, or control, accounts of the
bank, and the various books of the bank show the detail of these items. It would not be
impossible, but it would be entirely impractical, to enter every figure directly on the statement of
condition. Instead of total deposits, the balance of each depositor would appear opposite his
name. On the other side, instead of loans and discounts, there would be an itemized list of the
loans with the names of the borrowers.The first principle in bank accounting, as in all other
bookkeeping, is that for every debit there must be a credit, and vice-versa. In accordance with
this fundamental theory the books are maintained. With respect to the statement, every Rupee of
liabilities is accounted for by another Rupee of resources. Similarly each accounts at the end of
the day for each item of cash is balanced.Each bank employee has had the experience of
P a g e | 71
remaining at his desk until a late hour at night checking up his day's work searching for a
difference of a few cents. Often they become embittered at what seems to them a tyranny when
the small sum of money involved is considered. The reason they must settle, however, is not on
account of the possible loss of ten cents, but because the most important principle in bank
accounting is involved. "Accuracy first" is a motto that should be framed, figuratively at least,
upon the wall of every banking room.
The books used by National Bank of Pakistan are of various kinds and their purpose is indicated
by name. A ledger is a book used to keep a record of balances. To "post" means to enter in the
proper columns either the debits or credits on the ledger, and the difference between them
represents the balance either due by or to the bank. Another important book which is used by the
National Bank of Pakistan is journal, a book in which daily transactions are listed in regular
order as to accounts, and the total debit or credit is then posted on the ledgers. All other books,
cards and sheets used by bank of whatever nature is a part or subdivisions of these books. Often
they become known among the clerks by some other name descriptive of their general
appearance. For instance, the general ledger scratcher in one bank is known as the "red book,"
while the collection scratcher is the "black book."
The records made by one clerk upon one set of booksgo to check the records of another clerk
upon a different set of books. For instance, the paying teller and the receiving teller will each
keep a record of checks cashed or deposited payable within the bank. The debit postings of the
individual bookkeeper would agree with the teller's figures. Skillful accounting lies in making
the fullest possible use of original entries, at the same time having a check on all figures to guard
against either error or fraud.
Every transaction ultimately affects the bank's statement of condition by debit or credit. For
example, a deposit of Rs.1000 is made, consisting of Rs.200 cash and checks as follows: Rs.200
on the bank itself and Rs. 600 payable in another city. At the end of the day (assuming this to be
the only deposit), on the liabilities side there is an increase of Rs 800 all of which appears in the
item "deposits" being the total Rs.1000, less the check for Rs 200 which is charged to the
account of the drawer. On the resource side, then, a corresponding increase of Rs.800 and this is
P a g e | 72
made up by an increase in the cash of Rs 200 and an increase of Rs.600 in the item "due from
banks." Or a transaction may appear on one side of the statement only. The bank has sold Rs.5,
000.00 of the bonds it owns.
The Chief Financial Officers of United Bank Limited used to perform several tasks which were
preparing accounts, preparing budgets, operational reporting and interpreting, evaluating
operating results, preparing income tax returns, establishing internal control procedures to safe-
guard the companies assets.
Due to increased governance requirement there arises a need to empower the chief accountant
and to make him responsible by requiring him to sign the accounts. There comes the code of
corporate governance, which makes the chief accountant powerful and more responsible. With
the new role, Chief Accountant becomes Chief Financial Officer (CFO). The appointment,
removal and remuneration terms and conditions of employment of the chief financial officer of a
listed company shell are determined by the Chief Executive Officer with the approval of the
Board of Directors.
Q UALIFICATION R EQUIREMENT
The qualification requirement is defined under the code of corporate governance that is the
person appointed as the Chief Financial Officer must be
R ESPONSIBILITIES OF CFO
The new responsibilities apply to all Chief Financial Officers of Listed Companies, Insurance
Companies, Banks and DFIs. Mostly the CFO presents the financial position relating to the
period which has been over, and the period which has to come that is the financial position
attained and the financial projection i.e. where the organization will be.
In order to strengthen and formalize corporate decision-making process, significant issues are
required to be placed for the information, consideration and decision of the boards of directors by
the CFO. These are:
Annual business planes, cash flow projection, forecasts and long term planes.
Budgets include capital, manpower and overhead budgets along with variance
analyses.
Quarterly operating results of the company as a whole and in terms of its operating
divisions or business segments.
Details of joint ventures or collaboration agreements or agreements with distributors,
agents, etc.
Default in payment of principal and/or interest, including penalties on late payments
and other dues, to a creditor, bank or financial institution, or default in payment of
public deposit.
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Failure to recover material amounts of loans, advances, and deposits made by the
company, including trade debts and inter-corporate finances.
Significant public or product liability claims likely to be made against the company,
including any adverse judgment or order made on the conduct of the company.
The financial statement, prepared by the management of company, present fairly its states
of affairs, the results of its operation, cash flows and changes in equities.
Proper books of accounts of the company have been maintained
Appropriate accounting policies have been consistently applied in preparation in financial
statements and accounting estimates are based on reasonable and prudent judgment.
International accounting standards, as applicable in Pakistan, have been followed in
preparation of financial statements and any departure there from has been adequately
disclosed.
The system of internal control is sound in design and has been effectively implemented
and monitored.
There are no significant doubts upon the companies’ ability to continue as going concern.
There has been no material departure from the best practice of corporate governance as
detailed in the listing regulations.
for submitting half yearly accounts to the shareholders. Here we can refer to section 245 of
companies’ ordinance 1984 for this purpose, which requires half yearly accounts to be submitted
within two months of the close of first half. The CCG requires a limited review of half yearly
accounts by external auditor.Annual audited accounts are now required to be submitted within
four months of the close of financial year.
The Securities and Exchange Commission of Pakistan is exercising strict vigilance to ensure
compliance of 4th and 5th schedule of the Companies Ordinance, 1984 and timely submission of
accounts by companies. It has recently imposed penalties on Directors of nine listed companies
who failed to prepare and circulate the quarterly accounts. Furthermore, fines have been imposed
on chief executives.
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Decision making can be regarded as an outcome of mental processes leading to the selection of a
course of action among several alternatives. Every decision making process produces a final
choice.32 The output can be an action or an opinion of choice.A significant part of decision
making skills is in knowing and practicing good decision making techniques. One of the most
practical decision making techniques can be summarized in following simple decision making
steps:
1. Identify the purpose of your decision. What is exactly the problem to be solved? Why it
should be solved?
2. Gather information. What factors does the problem involve?
3. Identify the principles to judge the alternatives. What standards and judgment criteria
should the solution meet?
4. Brainstorm and list different possible choices. Generate ideas for possible solutions.
See more on extending your options for your decisions on my brainstorming tips page.
5. Evaluate each choice in terms of its consequences. Use your standards and judgment
criteria to determine the cons and pros of each alternative.
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6. Determine the best alternative. This is much easier after you go through the above
preparation steps.
7. Put the decision into action. Transform your decision into specific plan of action steps.
Execute your plan.
8. Evaluate the outcome of your decision and action steps. What lessons can be learnt?
This is an important step for further development of your decision making skills and
judgment.
The decision making of Management of National Bank of Pakistan rely on information system
resources which includes people and a variety of hardware, software, data, and communications
network technologies as resources to collect, transform, and disseminate information in Bank.
The Information systems Specialist are people who develop and operate information systems.
They include System analysts, software developers, system operators, and other managerial,
technical, and clerical IS personnel of National Bank of Pakistan. The system analysts of
National Bank of Pakistan design information systems of the Bank based on the information
requirements of the end users. The software developers create computer programs based on the
specification of system analysts of National Bank of Pakistan.
B) HARDWARE RESOURCES
The Hardware resources of National Bank of Pakistan include all physical devices and materials
used in information processing. Specifically, it includes not only machines, such as computers
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and other equipments, but also all data media, that is, tangible objects on which data are
recorded, from sheets of paper to magnetic or optical disks.
C) SOFTWARE RESOURCES
The software resources of National Bank of Pakistan include all sets of information processing
instructions. It also includes sets of operating instructions called programs, which direct and
control computer hardware. The followings are the examples of National Bank of Pakistan’s
software resources:
System Software:The National Bank of Pakistan uses Windows Operating Systems for
controls and supports the operations of a computer system.
Application Software: These are the programs that direct processing for a particular use
of computers by employees of the Bank. Bank uses BBO system, Microsoft Office suit as
application software.
D) DATA RESOURCES
The data resources of National Bank of Pakistan are typically organized, stored, and accessed by
a variety of data resource management technologies. The data about Branch transactions is
accumulated, processed, and stored in a BBO system that can be accessed by Manager for an
analysis and decision making.
E) NETWORK RESOURCES
The network resources of National Bank of Pakistan include:
SOURCES OF FUNDS
Rupees in
Millions
Year 2004 2005 2006 2007 2008
Share Capital 4,924,106 5,908,927 7,090,712 8,154,319 8,969,751
10,813,91 13,536,04 13,879,26 15,772,12 19,941,04
Reserves 4 1 0 4 7
11,084,79 11,704,07 10,886,06 40,458,92
Borrowings 0 8,756,847 9 3 6
465,571,7 463,426,6 501,872,2 591,907,4 624,939,0
Deposits 17 02 43 35 16
23,068,31 24,974,45 26,596,30 30,869,15 39,656,83
Other Liabilities 4 0 0 4 1
Horizontal Analysis (%)
Share Capital 100 120 144 166 182
Reserves 100 125 128 146 184
Borrowings 100 79 106 98 365
Deposits 100 100 108 127 134
Other
Liabilities 100 108 115 134 172
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GENERATION OF FUNDS
Rupees in
Millions
Year 2004 2005 2006 2007 2008
20,947,33 33,692,66 44,100,93 50,569,48 60,942,79
Markup/return/interest earned 3 5 4 1 8
14,387,93 23,370,89 30,153,71 33,629,47 37,058,03
Net markup/interest income 5 7 6 0 0
12,639,77 21,146,97 27,782,17 28,906,73 26,087,21
Net markup/interest income after provisions 0 0 0 5 6
12,162,89 13,544,84 16,415,86
Total non-markup/ Interest income 8,304,716 9,392,351 2 5 2
20,944,48 30,539,32 39,945,06 42,451,58 42,503,07
Total income ( Interest + non-Interest) 6 1 2 0 8
PROFIT BEFORE 11,977,60 19,056,02 26,310,57 28,060,50 23,000,99
TAXATION 1 8 7 1 8
Horizontal Analysis (%)
Markup/return/interest earned 100 161 211 241 291
Net markup/interest income 100 162 210 234 258
Net markup/interest income after provisions 100 167 220 229 206
Total non-markup/ Interest income 100 113 146 163 198
Total income ( Interest + non-Interest) 100 146 191 203 203
PROFIT BEFORE
TAXATION 100 159 220 234 192
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ALLOCATION OF FUNDS
Rupees in
Millions
Year 2004 2005 2006 2007 2008
Lending’s to Financial Institutions 10,511,322 16,282,942 23,012,732 21,464,600 17,128,032
149,350,09 156,985,68 139,946,99 210,787,86 170,822,49
Investments 6 6 5 8 1
220,794,07 268,838,77 316,110,40 340,677,10 412,986,86
Advances 5 9 6 0 5
Operating Fixed Assets 9,202,969 9,454,365 9,681,974 25,922,979 24,217,655
Other Assets 19,141,569 23,941,056 37,113,698 30,994,965 44,550,347
Horizontal Analysis (%)
Lending’s to Financial Institutions 100 155 219 204 163
Investments 100 105 94 141 114
Advances 100 122 143 154 187
Operating Fixed Assets 100 103 105 282 263
Other Assets 100 125 194 162 233
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In accounting, banks don’t prepare worksheet, but part of worksheet is prepared like trial
balance. The securities for the loans are handled in the same way as theory says like mortgage,
pledge, hypothecation, advances against insurance policies or liquidation procedure is the same.
There is some difference lies in types of loans in bank that is theory talks about four or five types
of loans that is cash finance, overdraft, loans etc., but in practice there are some more types used
by bank like running finance, demand finance etc. All other concepts of remittances, bills,
foreign exchange deposits, letters of credit are in accordance with theory almost.A bank's
balance sheet is different from that of a typical company. You won't find inventory, accounts
receivable, or accounts payable. Instead, under assets, you'll see mostly loans and investments,
and on the liabilities side, you'll see deposits and borrowings.
C ONCLUSION
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To me, Theory gives the direction to understand the processes and the terminologies going
across the World using best business practices in a broader view covering each and every aspect
of possible business scenarios. On the contrary practical life is specific, enclosed in a jar.
BALANCE SHEET
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INCOME STATEMENT
Different Provisions
Provision against non-performing loans and advances-net 370208 1289820 1867140 2446739 3075723
Provision for diminution in the value of investments 2165 113220 73680 245881 709461
Bad debts written off directly 351 1441320 2206140 2306930 528425
Other income including gain on sale of securities, 4280504 5465880 6267420 1365757
1 1169515
Taxation
The analysis of financial statement refers to the examination of the statements for the purpose of
acquiring additional information regarding the activities of the business. The users of the
financial information often find analysis desirable for the interpretation of the firm’s activities.
P a g e | 87
The overall objective of financial statement analysis is the examination of a firm’s financial
position and returns in relation to risk. This must be done with a view to forecasting the firm’s
future prospective.
Analysts can obtain useful information by comparing a company's most recent financial
statements with its results in previous years and with the results of other companies in the same
industry. Three primary types of financial statement analysis are commonly known as horizontal
analysis, vertical analysis, and ratio analysis.
RATIO ANALYSIS
Ratio analysis enables the analyst to compare items on a single financial statement or to examine
the relationships between items on two financial statements. After calculating ratios for each
year's financial data, the analyst can then examine trends for the company across years. Since
ratios adjust for size, using this analytical tool facilitates intercompany as well as intercompany
comparisons. Ratios are often classified using the following terms: profitability ratios (also
known as operating ratios), liquidity ratios, and solvency ratios. Profitability ratios are gauges of
the company's operating success for a given period of time. Liquidity ratios are measures of the
short-term ability of the company to pay its debts when they come due and to meet unexpected
needs for cash. Solvency ratios indicate the ability of the company to meet its long-term
obligations on a continuing basis and thus to survive over a long period of time. Financial ratios
allow for comparison:
Between companies
Between industries
Between different time periods for one company
Between a single company and its industry average
P a g e | 88
HORIZONTAL ANALYSIS
This technique is also known as comparative analysis.It is conducted by setting consecutive
balance sheet, income statement or statement of cash flow side-by-side and reviewing changes in
individual categories on a year-to-year or multiyear basis. The most important item revealed by
comparative financial statement analysis is trend. A comparison of statements over several years
reveals direction, speed and extent of a trend(s). The horizontal financial statements analysis is
done by restating amount of each item or group of items as a percentage.Such percentages are
calculated by selecting a base year and assign a weight of 100 to the amount of each item in the
base year statement. Thereafter, the amounts of similar items or groups of items in prior or
subsequent financial statements are expressed as a percentage of the base year amount. The
resulting figures are called index numbers or trend ratios.
Horizontal analysis, whilst simple to execute and useful to a certain extent, has its limitations.
These limitations include:
Being highly dependent on the selection of base year and the period under examination in
the financial model.
Horizontal analysis provides little insight into why the trend occurred in a financial
model.
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Horizontal analysis does not provide insight into whether the trend in the financial model
results was superior/inferior to some benchmark.
VERTICAL ANALYSIS
When using vertical analysis, the analyst calculates each item on a single financial statement as a
percentage of a total. The term vertical analysis applies because each year's figures are listed
vertically on a financial statement. The total used by the analyst on the income statement is net
sales revenue, while on the balance sheet it is total assets. This approach to financial statement
analysis, also known as component percentages, produces common-size financial statements.
Common-size balance sheets and income statements can be more easily compared, whether
across the years for a single company or across different companies.
Vertical analysis is a technique for identifying relationship between items in the same financial
statement by expressing all amounts as the percentage of the total amount taken as 100. In a
balance sheet, for example, cash and other assets are shown as a percentage of the total assets
and, in an income statement, each expense is shown as a percentage of the sales revenue.
Deferre
d 0 1 0 1 -10
28 21 23 21 18
PROFIT AFTER TAXATION 30 42 43 45 36
Unappropriated Profit brought forward 28 30 48 76 107
Transfer from surplus on revaluation of fixed
assets on account of incremental depreciation 0 0 0 0 0
Profit available for appropriation 58 72 91 120 143
Meezan Bank 4.54 0.81 71.74 57.84 38.3 0.44 0.98 111 A+
-
NIB Bank 28.44 8.46 177.98 112.12 85.43 -0.73 0.23 240 AA
Myban
k 4.24 0.41 45.47 31.96 23.03 0.43 1.02 69 A
-
Atlas Bank 5.01 0.52 30.7 22.18 17.5 -0.2 -0.39 31 A
Standard
Chartered 38.72 1.95 276.38 173.81 126.27 1.31 0.34 176 AA+
JS
Bank 5.11 0.01 24.16 14.08 9.57 0.16 -0.31 11 A-
Habib
Metropolitan 6.02 6.7 192.45 128.97 101.22 1.57 2.6 100 AA+
A stock exchange is a corporation or mutual organization which provides "trading" facilities for
stock brokers and traders, to trade stocks and other securities.The securities traded on a stock
exchange include: shares issued by companies, unit trusts and other pooled investment products
and bonds. To be able to trade a security on a certain stock exchange, it has to be listed there.
The initial offering of stocks and bonds to investors is by definition done in the primary market
and subsequent trading is done in the secondary market. In Pakistan securities are traded on three
stock exchanges which are Karachi stock exchange, Lahore stock exchange and Islamabad stock
exchange.
The financial position of commercial banks registered on stock exchanges in Pakistan, are shown
in preceding page in terms of their:
Paid-up Capital
Reserves
Assets
Deposits
Advances
Profit after tax
Earnings per share
Credit rating
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The best way to analyze these commercial banks is to analyze their credit ratings. The National
Bank of Pakistan enjoys the highest credit rating amongst Pakistani banks; JCR- VIS Credit
rating Co. Limited awarded highest standalone credit rating of AAA to NBP. The JCRVIS Credit
rating Co. comments about NBP say a lot about the bank:33
“The organization has been able to strategically manage and build on its competitive advantages
whichhas translated into the strong and well managed improvement in profitability trend
observed over the lastfew years, a substantial balance sheet of sound asset quality, and strong
liquidity and capitalizationlevels”
NBP’s key strength remains its extensive outreach and a low cost, stable deposit base. Deposits
are also guaranteed by the Government of Pakistan under the Banking Nationalization Act, 1974.
There have also been significant improvements in the management practices of the bank and a
focus on enhancement of systems and controls. In this regard the management has entered into
an agreement for the acquisition of a core banking software which is likely to be implemented
over the next few years.
JCR-VIS believes that the current economic situation puts certain leading industrial sectors and
the general consumer under financial stress. Therefore, the second half of 2008 and 2009 are
likely to be challenging for the banking sector as a whole, in terms of maintaining growth, asset
quality and profitability.34
The JCR-VIS Rating Process include following steps:35
CONCLUSIONS
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RECOMMENDATIONS
P a g e | 101
REFERENCES
1
1
S A Haq. (1998) Practice & Law of Banking in Pakistan (6th Ed.)
1
Kotler, P., Armstrong, G., Brown, L., and Adam, S. (2006) Marketing, 7th Ed.
https://www.ubl.com.pk/retail/deposits/business_partner/
5
https://www.ubl.com.pk/retail/deposits/pls_saving_account/
6
https://www.ubl.com.pk/retail/deposits/business_banking/
7
https://www.ubl.com.pk/retail/deposits/ubl_uniflex/
8
https://www.ubl.com.pk/retail/deposits/eTransaction/default.asp?source=corporate
9
https://www.ubl.com.pk/retail/deposits/ubl_profit/
10
https://www.ubl.com.pk/retail/deposits/term_deposit/
11
https://www.ubl.com.pk/retail/deposits/fc_saving/
12
https://www.ubl.com.pk/retail/deposits/fc_term_deposit/
13
https://www.ubl.com.pk/retail/loans/creditcard/default.asp
14
https://www.ubl.com.pk/retail/ubl_wiz/
15
16
https://www.ubl.com.pk/retail/loans/address/
17
https://www.ubl.com.pk/retail/loans/business/
18
https://www.ubl.com.pk/retail/loans/cashline/
19
https://www.ubl.com.pk/retail/loans/drive/
20
https://www.ubl.com.pk/retail/agricultural/
21
https://www.ubl.com.pk/retail/small_business/
22
Practice & Law of Banking in Pakistan by Dr. Asrar H. Siddiqui 7th ed page no 221
23
Practice & Law of Banking in Pakistan by Dr. Asrar H. Siddiqui 7th ed page no 228
24
Practice & Law of Banking in Pakistan by Dr. Asrar H. Siddiqui 7th ed page no 228
25
https://www.ubl.com.pk/remittances/tezraftaar/default.asp
26
https://www.ubl.com.pk/remittances/tezraftaar/tezraftaarcash.asp
27
https://www.ubl.com.pk/services/hamrah/
28
https://www.ubl.com.pk/services/net_banking/
29
https://www.ubl.com.pk/services/ubl_estatement/
30
31
32
33
34
http://www.jcrvis.com.pk
35
http://www.jcrvis.com.pk/ratingscale/rating_process.htm