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An Internship Report On: Online Banking As General Banking Activities of United Commercial Bank Ltd. Savar Branch, Dhaka
An Internship Report On: Online Banking As General Banking Activities of United Commercial Bank Ltd. Savar Branch, Dhaka
An Internship Report On: Online Banking As General Banking Activities of United Commercial Bank Ltd. Savar Branch, Dhaka
Submitted to:
The Chairman
Internship Placement Committee
Department of Business Administration
Gono Bishwabidyalay
Mirzanagor, Savar, Dhaka.
Submitted by:
Exam Roll: 246
Batch: 4th
Program: B.B.A
Concentration/Major: Finance
Department of Business Administration
Gono Bishwabidyalay
Mirzanagor, Savar, Dhaka.
The Chairman
Internship Placement Committee
8th Semester, 4th Batch
Department of Business Administration
Gono Bishwabidyalay
Mirzanagor, Savar, Dhaka.
Dear Sir,
I shall be highly obliged if you are kind enough to receive this report and provide your
valuable judgment. It would be my immense pleasure if you find this report useful and
informative to have an apparent perspective on the issue.
Sincerely Yours
-------------------------------
Exam Roll: 246
Batch: 4th
Program: B.B.A
Concentration/Major: Finance
Department of Business Administration
Gono Bishwabidyalay
Mirzanagor, Savar, Dhaka.
STUDENT’S DECLARATION
I, Bearing Roll-246, student of Business Administration, Gono Bishwabidyalay, hereby state
that the report offered in the name “ONLINE BANKING AS GENERAL BANKING
ACTIVITIES OF UCBL” Savar Branch, Savar, Dhaka, has been prepared and carried by me
under the supervision of, Mohammed Abdul Based senior vice president & head of Branch,
United Commercial Bank Limited, Savar, Dhaka. I also state that no part of this report has
been or is being submitted elsewhere for the award of any degree, diploma or recognition.
I heartily thank all the officers of UCBL and my friends who directly or indirectly provided
me their support in this regard.
I really enjoyed a lot every moments like internship period to preparing final report. I hope
that it will help me in my future professional work. Moreover I like to thank everyone who
was helped me for preparing this report.
Finally, I would like to humble thanks to all of my family members who gave me physical,
psychological and economical supports to complete my BBA Program.
The whole purpose of general banking division is to make UCBL more efficient in its own
filed. Based on the findings I have also included a few improvements that this report holds at
the end. Although, it is difficult to come to a conclusion without a proper research or survey,
I based my conclusion partially on what I though.
Table of Contain
1.1 Introduction 02
1.2 Background of the Study 02
1.3 Objective of the report 03
1.4 Scope of the studies 03
1.5 Methodology of the Study 04
1.6 Limitations of the Study 04
5.1 Internship 36
5.2 Job Description 36
5.3 The daily work routing 36
5.4 Team working 36
5.5 Learning Point 37
5.5.1 Posting of the account 37
5.5.2 Issuing pay order slip 37
5.5.3 Issue of the cheque book 37
5.5.4 KYC form completion 37
5.5.5 Clearing House Register 37
5.5.6 Deliver of Debit Card 38
5.5.7 Call the cline for received cheque book & ATM card 38
5.5.8 Write down Deposit slip 38
SWOC Analysis 40
6.1 Strength of UCBL 40
6.2 Weakness of UCBL 41
6.3 Opportunity for UCBL 41
6.4 Challenges for UCBL 42
Chapter 07 Conclusion
Page: 02
1.3 Objective of the report
Primary objectives:
Ø To get an overall idea about the banking system of United Commercial Bank Ltd.
Ø To get an idea about the Online Banking as General Banking Activities of United
Commercial Bank Ltd.
Ø To get idea about the relationship between real life learning and theoretical learning.
Specific objectives:
Page: 03
1.5 Methodology of the Study
I have designed the methodology of the study in the following way:
Ø Primary data sources:
1. Inspection in different desks
2. Talking with professionals in casual manner and planned analysis
3. Observation
4. Personal interview
Ø Secondary data sources:
1. Leaflets and manuals of UCBL
2. Yearly Annual Reports
3. Web site
Extensive study of the existing files, convenient case clarifications, observation and
reimbursement practice interview with the employee were done to identify the execution and
control and monitoring of the banking system.
Ø Limited data resources: All types of information were not available for access, so it
was not possible to access and summarize them properly. Though I had assistance
from other employees but it was not enough for me due to their high work pressure in
the bank. Some assumptions were made due to limited information, so there may be
some personal mistakes
.
Ø Lack of experience: It was my first time, doing a report on a banking system in a
practical corporate life. So my limited experience was the main obstacle of this study.
Ø Privacy of Information: Every establishment has its secrecy that is not shared with
everyone. So this confidentiality of information was also an obstacle faced in this
study.
Page: 04
Chapter: 2
Overview of the
Organization
2.1 Overview of the Organization (United Commercial Bank Ltd.)
“United Commercial Bank” One of the leading and fastest growing privately owned
Bangladesh based financial institution. UCBL offers all kinds of Commercial Corporate and
Personal Banking services covering all segments of society within the framework of Banking
Company Act and rules and regulations laid down by our central bank. Diversification of
products and services include Corporate Banking, General Banking Retail Banking and
Consumer Banking right from industry to agriculture, and real state to software that provides
financial services including- personal and business banking, loans, credit and debit cards,
money transfer facility, online banking and other services. United Commercial Bank, from its
beginning gave more importance in technology integration in order to remain competitive in
the region of banking to hold their position. Keeping the network within a reasonable limit,
their strategy is to serve the customers through capacity building across multi-delivery
channels.
This bank successfully establishes itself as one of the leading first generation banks in the
country with a huge network of 158+ branches. Also consumer products like UCB cards have
been showing incredible success and soon became the leader in local market with around
40000+ card holders with 152+ ATM booths. This bank has already made a separate entity in
the territory of private sector banking through personalized service, innovative practices,
dynamic approach and efficient management by the help of 3,679 employees who always
show their dynamic performance to keep their leading position in the banking sector. They
are better positioned and balanced to make their customers capable enough for changing
times and facilitate them to compete more effectively in the market they operate. This bank is
aiming to play a fundamental role in the economic activities of the country by the expansion
of trade, commerce and industry thorough an inventive credit policy.
Page: 06
2.3 Vision of the UCBL
Their vision for the future is to be the bank of first preference through increases the value of
their clients, shareholders and employees and contributing to the national economy with
social commitments. Beside these they want to take some initiatives very soon. Those are:
Ø To hold the position of best private commercial bank in Bangladesh with loyalty with
particular compliances of rules and regulations.
Ø They are departing to amplify the quantity of Small and Middle - Size Enterprise
(SME) loan for the entrepreneurs in our country by different attractive products or
services. So that people can contribute more on the growth of national economy in the
country.
Ø UCBL feel the need for the society and wants to give more attention on this issue.
Therefore, they are concentrating more on Corporate social responsibility (CSR)
activities in the upcoming year.
Ø UCBL emphasizes on having proficient employees to serve their customers in the best
possible way. In order to do that, UCBL is planning to emphasis more on employees
and want to send them abroad for efficient training.
Ø They have a vision to raise their ATM (Automated Teller Machine) booths with modern
machines and high securities by this year to expand their service and serve their
customers to make them satisfied.
Page: 07
2.6 Values of the UCBL
Ø The main task of the bank is to accept deposited from various customers through
various accounts.
Ø Provides loans on easy terms and condition.
Ø It creates loan deposit.
Ø It transfers money by Pay Order (PO) and Telegraphic Transfer etc
Ø The bank is doing the transaction of bill of exchange, cheque etc. on behalf of the
clients.
Ø United Commercial Bank assists in the Foreign Exchange by issuing Letter of Credit.
Ø The bank insures the securities of valuable documents of clients.
Ø Above all, United Commercial Bank Ltd helps the businessmen financially by giving
discount facility for bill of exchange and by providing the facility of Letter of
Guarantee.
Ø Make the most of all available resources to develop various plan, policies and
procedures in each of the objective and goal areas.
Ø Execute plans, policies and procedures.
Ø Utilize term of professional employees.
Ø Synchronized and steady growth of the bank.
Ø Search for a total customized solution of IT for the purpose of full automation step.
Page: 08
2.9 Slogan of the UCBL:
The slogan of United Commercial Bank was “Happy Banking”. After completing thirty
years of journey it has changed its slogan and now its slogan is “United We Achieve”.
Because they believe that if we work together we can achieve everything.
For customers
Ø To provide the most courteous and efficient service in every aspect of its business.
Ø To be innovative in the development of new banking products and services.
For employees
Ø By promoting good staff morale through proper staff training and development, and
provision of opportunities for career development.
For shareholders
Ø By forging ahead and consolidating its position as a stable and progressive financial
institution.
Ø By generating profits and fair return on their investment.
For community
Page: 09
2.11 Ethics, Integrity and Trust
Banking deals with public money where Ethics, Integrity and Trust is utmost important.
United Commercial Bank upholds these principles in every section by its management and
customer service. The following are the key principles of Employee codes of Ethics and
Business conduct.
As one of the leading bank UCB acknowledge their responsibilities toward the society as a
whole in which we live. We care for all stakeholders, ethical functioning, and respect for
employee’s rights and welfare, respect for human beings, respect for environment and
disseminate information on CSR policy. UCB participates in social development, education,
health, sports, environment etc.
Page: 10
2.13 Products and services by UCBL
Page: 11
2.14 Organgram of UCBL
Page: 12
Chapter 3
Online Banking As General
Banking Activities
3.1 Online banking
Online banking can be made into two ways such as Internet Banking and Mobile or SMS
(Short Message Service) banking.
The first internet bank in the world is the United States of "Security First Network Bank"
(SFNB), is founded on October 18, 1995.
Strengths
Weaknesses
Opportunities
Threats
Page: 14
Internet Banking of UCBL:
The following are the internet banking features for UCBL’s retail and corporate
customers:
Ø Customers are able to view the list of current, saving, term deposit and loan accounts
with the current balance.
Ø Able to see or print his transaction activity in a given account for a particular period
Ø Customer can transfer funds from one of his accounts to another of his accounts
within the bank
Ø Can open a term deposit by transferring funds from one of his current or savings
accounts with the bank. He can also modify the TD and redeem / part-redeem it
Ø Can make payment of the loan installment from his account
Ø The customer can make a request for account statement for a required period. The
bank will manually service this request
Ø Also can make a request for a cheque book
Ø The customer can query on the interest rates, term deposit products, foreign exchange
rates using this function
Ø The customer can change his internet banking password using this function
Page: 15
3.1.2 Mobile Banking
Ø Mobile banking is a term used for performing balance checks, account transaction,
payments, credit application, pay bills, authorize fund transfers, and other banking
transactions through a mobile device such as a mobile phone or Personal Digital
Assistant (PDA).
Ø Also known as M-Banking, SMS Banking.
Ø The first mobile banking was operated by the National Bank of Scotland and came
into service on 5 November 1946.
Ø Mobile banking was first introduced in Bangladesh on May 15 by Dutch Bangla Bank
Ltd.
Weakness:
Opportunity:
Threat:
Ø UCash is currently providing mobile financial service facilities like money transfer,
purchasing and money deposit.
Ø The key feature of UCash is giving interest on deposits for the first time through
mobile financial service. It would be a special one, as people will get interest on the
money deposited by UCash service from the very first day.
Ø SMS banking is another new feature of UCB. It gives customers the opportunity to
check out their account balance in their mobile.
Ø Through this service individual can see their available account balance and drawing
account balance.
Ø First one should have to have an account in UCB bank. Then he/ she have to fill-up an
application form in request to have SMS banking service.
Ø The bank may require three working days after receiving the application form for
activation of the service.
Ø The account holder is solely responsible to stop misuse of SMS banking services and
also to maintain the confidentiality of his/her financial information by ensuring safe
holding of the mobile phone/ connection assigned to SMS banking service provided
by UCB. If the mobile phone/ connection is lost, stolen or sold to another individual,
the account holder shall immediately notify the bank and cancel the SMS banking
service. The account holder hereby agrees that UCB shall not be responsible for any
disruption in SMS banking service due to any mechanical failure on the part of UCB/
mobile phone service provider.
Ø Registration form should be submitted to the branch, where the account is maintained.
Ø SMS banking service shall remain effective until otherwise advised in writing by the
account holder.
Ø The bank may revise and/ or change any of the terms and condition at any time with
notice to you but does not require any consent.
Ø By providing SMS Banking Service United Commercial Bank may collect service
charge from the linked account. United Commercial Bank may revise and/or change
the service charge at any point of time.
Some customers set up automatic payments from their accounts for reoccurring bills such as
insurance premiums or utility bills in an effort to simplify their finances.
Ø Your account number is given to a third party for each auto payment you establish.
Ø The greater numbers of third parties that have your account information on file, the
higher your risk for fraud and identity theft.
Ø You have authorized the third party to debit your account without prior notification
regardless of your ability to cover the transaction.
Ø Continue to enjoy the convenience of an automatic payment with greater peace of
mind with Online Bill pay from UCB.
2. Click on Options
3. Select the accounts that you would like enrolled under the E Statement Enrollment
section at the bottom
Page: 20
3.2.1.3 UCB E-mail Alerts
Don't let a transaction slip your mind again! UCB can help you stay on top of your finances
with Account Alerts. Simply set the parameters for notifications you wish to receive and we
will send you the alerts you request. Receive real time alerts in your email or on your phone
when:
Ø Your balance is low or
Page: 21
This process is divided into two parts and those are as follows:
BEFTN Service:
United Commercial Bank Limited (UCB) has recently signed a contract with Chittagong
Stock Exchange (CSE) to provide services under the Bangladesh Electronic Fund Transfer
Network (BEFTN) held at Bangladesh Bank premises in the presence of the Governor of
Bangladesh Bank Dr Atiur Rahman; Managing Director of UCB, M Shahjahan Bhuiyan and
Chief Executive Officer (CC) of CSE Syed Sajid Husain signed the document on behalf of
the respective organizations. UCB is the first bank authorized by Bangladesh Bank to carry
out debit transactions under BEFTN. Page: 22
BEFTN Charge
Under the revised provision, the commercial bank are allowed to charge Tk 10 including
value added tax ( VAT ) from their clients for clearing each cheque amounting between Tk
50,000 and below Tk 500,000. Of the amount of Tk 10, the bank will have to pay Tk 8.00 to
the BB and the rest Tk 2.00 will receive by the bank. The bank is also allowed to charge
maximum Tk 60 including VAT from their clients for clearing each high valu cheque, Of the
Tk 60, the bank will get Tk 10, while the BB will get Tk 50. While maximum Tk 25
including VAT for each regular valu cheque. Of the Tk 25, the bank will get Tk 5.0 while the
central bank will receive Tk 20.
deposit
Ø Learn the system quickly with our on-site
training provided
Ø Scan your checks on-site
Ø Combine with other UCB Online services and conduct all of your regular daily
Ø Enjoy the convenience of banking from your office and the assistance of friendly
Ø It saves you money. Not only are your travel costs associated with getting a paper
check to the bank avoided, but many banks also offer discounts or will even waive
monthly account fees with a direct deposit.
Ø It improves your money management skills. Direct deposit allows you to direct
some of your paycheck each pay period to your savings and investment accounts.
This will help you save regularly and frequently, helping you reach your savings
goals more quickly and easily.
Ø It can earn you rewards. Some banks offer loyalty programs that reward you with
points or extra perks when you have a direct deposit.
Ø It helps you save the environment. In with the pennies, out with the pounds…by
switching to direct deposit, an individual employee, paid every two weeks, can save
a pound of paper per year and avoid the release of 1 pound of greenhouse gases into
the atmosphere due to the production and travel expenses associated with printing,
mailing, and physically depositing paper checks.
Ø It provides you peace of mind. Not only is direct deposit safer than paper checks,
it's also more reliable. You can count on your paycheck being deposited even if you
aren’t available. Whether you are on vacation, under the weather, or traveling for
work, you’ll have direct access to your funds when and where you need it.
Direct deposit can be used for your payroll checks, Social Security payments and other
government benefit checks, and best of all, most employers make signing up for direct
deposit of your payroll check easy.
Page: 24
3.2.2.2 UCB Commercial Online Cash Management
Ø Pay loans
Ø Pay taxes
Ø Account analysis
Ø E-deposit
Ø ACH services including payroll, corporate payments and consumer credits / debits
Page: 25
3.2.2.3 UCB Commercial Merchant Services
Offering your customers multiple payment options is
simple with UCB Commercial Merchant Services. Our
Merchant Services program provides effective and
efficient processing of Credit Card and Debit Card
transactions (Through Online).
Enjoy the benefits of Merchant Services from UCB:
Ø Increase your overall cash flow
Ø Increase your average sale by eliminating the need for customers to carry cash
Ø Delivery of direct deposit from terminal to business checking account within 48 hours.
Upon approval, necessary equipment will be delivered to your businesses within two weeks
and on-site training will be provided so you can get started right away! See a banker for
specific pricing details
Page: 26
3.2.2.4 UCB Account Analysis Through Online
With business account analysis, United Community
Bank gives you a way to take advantage of the balances
you keep in your account. Although federal law says
for-profit businesses can't earn interest on their checking
accounts, you can enjoy the benefits described below.
How it Works
Each month, we compare the costs of the services you use with the value of the balances you
keep in your UCB checking account. You get a monthly statement that shows:
Ø The value of your average positive ledger balances
Ø The value of your average collected balances
Ø The charge for average negative collected balances, if any
Ø The net balances available to support the level of activity on your account
Ø Activity charges for services you used during the month
All transactions in UCBL are done through online banking system. By the help of online
banking system client can transfer money from one account to another account within UCBL
and also can get all their transaction details through online. UCBL uses ultimo customized
software to process daily transactions from all of its 158 branches. The activities of UCBL
are given below:
Ø Deposit cash
Ø Cash withdrawal
Ø Transfer of money from account to account
Page: 27
3.4 Ten Reasons to Use Online Banking
The Internet is definitely changing the way we live. It has quickly become the choice method
of communication for many. It has also become a major factor in the financial lives of
millions. Using the Internet to interact with your financial institution can help simplify your
financial affairs. Here are ten reasons to consider using online banking:
1. You can pay your bills online. Most online institutions offer convenient bill paying
services. With these services, paying your bills just takes a mouse click.
2. You can apply for many types of loans online. Applying for a loan online is often
easier than filling out paper forms. You may even get approved faster. However, some
types of loans may still require the paperwork.
3. You can review your account activity and know your up-to-date balances. It is
easy to see which checks have cleared and monitor your balances.
4. You can transfer funds between your accounts easily. Knowing how much money
you have in each account can enable you to move money to other accounts to earn
higher rates on certain funds.
5. You can save money. Online bill paying eliminates the costs of stamps, envelopes, and
even ordering checks.
6. You can save time. You can bank whenever and wherever you want, even on the go.
All you need is a PC, tablet, or Smartphone with Internet access.
7. It can help protect against identity theft. By monitoring your account activity online,
you can catch and report suspicious transactions right away. Enrolling in E-Statements
also reduces the chance of mail theft.
8. It is safe. Most online banking activities use highly sophisticated encryption protocols
to ensure safety and privacy. Your access codes (login/passwords) should be guarded
carefully.
9. You can receive valuable information. Many institutions have electronic updates and
email messaging to keep you fully informed about any important news or special offers
they may have.
10. You can learn how to make better-informed financial decisions. Many institutions
have sections of their websites dedicated to providing useful financial education.
Page: 28
3.5 Online Service Charge:
i. Cash Deposit /Withdrawal /Transfer Cheque (Intercity)
Upto Tk. 50,000/- Tk.30/- +VAT Tk 5/-
Above Tk. 50,000/- but below Tk.1.00 lac Tk.50/- +VAT Tk.8/-
Tk.1.00 lac & above but below Tk.5.00 lac Tk.150/- +VAT Tk.23/-
Tk.5.00 lac & above but below Tk.10.00 lac Tk.250/- +VAT Tk.38/-
Tk.10.00 lac & above but below Tk.20 lac Tk.800/-+VAT Tk.120/-
Tk 20.00 lac & above but below Tk.50 lac Tk.1000/-+VAT Tk.150/-
Tk.50.00 lac & above Tk.1500/-+VAT Tk.225/-
Page: 29
Chapter 4
Comparison Between UCBL And
Southeast Bank
4.1Brief description about southeast bank
As I am going to do a small comparison between UCB and Southeast bank so here I gave a
small description about SEBL. I choose Southeast bank because it’s the closest rival of UCB
as both of the banks are situated in the same floor of a building. So it’s easy for the customers
to compare between the banks and choose the best option. As a result SEBL is giving a strong
competition to UCB.
Southeast Bank Limited was established in 1995 with a dream and a vision to become a
pioneer banking institution of the country and contribute significantly to the growth of the
national economy. The Bank was established by leading business personalities and eminent
industrialists of the country with stakes in various segments of the national economy.
Southeast Bank is run by a team of efficient professionals. They create and generate an
environment of trust and discipline that encourages and motivates everyone in the bank to
work together for achieving the objects of the bank. The culture of maintain congenial work
environment in the bank has further enabled the staff to benchmark themselves better against
management expectations. A commitment to quality and excellence in the service is the
hallmark of their identity.
Here I am showing a very small area of comparison between UCB and Southeast Bank. In
this comparison I am just focusing on general banking division and online banking & service.
Page: 34
Chapter 05
Role As An Intern
5.1 Internship
Internship is very significant for anyone because one can gather realistic information in this
time. I have completed my internship program within August 08 to November 07, 2016. I
have learnt many things about General Banking in this three months internship program. I
found a responsive working atmosphere and I felt like I was one of them. Each of my
colleagues assisted me very much to understand the assignment easily.
During this period of internship program, I primarily worked in General Banking segment.
Still, this short period of time.
Page: 36
5.5 Learning Points
I have learned different documents throughout my internship program which are given below:
Page: 37
5.5.5 Clearing House Register
A vital part of general banking is Clearing House Register. Received cheques are written in
this book. Client’s name and account number, amount of money, name of the bank, clearing
date, branch of that bank, cheque number and again amount of money are the basic things
which are included in the book.
To deliver debit card, Firstly, we verified the signature card and see photo to match the
person. Then we take the signature in debit card register. then finally, we handover the card
to the customer
5.5.7Call the cline’s for received cheque book and debit card
We call the cline’s for receive the cheque book and debit card. When cheque book and card
come to bank, we receive them and entry the register. Then we call the cline and say for
receive them and also said that if you late to receive the cheque book and debit card, then we
send them to head office. So you should come soon for receive them.
We also write down the deposit slip for helping the clines.
Page: 38
Chapter 06
SWOC Analyst
6.1 SWOC Analysis
SWOC mean strength, weakness, opportunity and Challenges. The detailed study of an
organization’s coverage and prospective in perception of its potency, flaws, chances and risks
is called SWOC analysis. It is needed to make the current way of performance and also
predict the outlook to develop their performance compared to opponents. The organization
can learn about their current situation in the market with the help of this tool. It also plays an
important role in making modification in the planned administration of the organization. The
SOWC of UCBL is given here in brief:
ü In the recent time, a great number of private banks coming into the market. In this
competitive atmosphere UCBL must develop its product line to improve its
prolonging spirited benefit. They can introduce the ATM to participate with the local
and the foreign bank in that product line. They can initiate credit card and debit card
system to attract their potential customers.
ü In addition, Special corporate scheme can be introduced for the corporate level
customers or customers with a high income. They can also initiate various schemes
for service holders. The schemes for the service holders must be created according to
their type of profession, level of earning etc.
ü The country’s increasing population is learning to adopt consumer finance.
Opportunity in retail banking lies here. The average people in our country are of
middle class. Various types of retail lending products have immense appeal to this
class. So a wide variety of retail lending products has a very large and easily
pregnable market. Page: 41
ü They should develop their IT system and start SMS banking at least every district.
ü They should deduct their commission charge for online money transfer.
ü They should start mobile banking like DBBL.
ü UCB can introduce internet banking service
ü There is an increase in the growth of new multinational banks and upcoming foreign,
private banks. It poses massive threats to UCBL. If it happens, UCBL has to develop
their current marketing strategy or create new strategy to prevail successfully in the
banking business.
ü The default risks of all terms of loan have to be minimizing in order to sustain in the
financial market. Because default risk leads the organization towards to bankrupt.
UCBL has to remain vigilant about this problem so that proactive strategies are taken
to minimize this problem if not elimination.
ü The payment scale for middle to lower employees must be reconsidered or the good
and efficient employees will look for employment somewhere else. If it happens, it
will greatly affect the management of the bank.
ü The economy of Bangladesh is not stable. The variation of economic situation may
affect the banking business.
Page: 42
Chapter 07
Conclusion
7.1 Suggestions for further improvement
As per the report requirement and doing three months of internship in the bank and based on
my finings and analysis, I would like to give some suggestions for their further improvement.
The suggestions are given below-
Better Customer Service should be provided in order to attract more clients.
Increasing number of unsatisfied customers will incur loss to the organization.
In this edge of competition UCB should introduce Islamic banking section to grab
more customers.
Now a day’s people are very busy and use internet to get information. For that UCB
should develop a more organized and effective web-site so that customers can get
necessary or basic information about the bank products, offers and interest rate.
It needs to bring some improvisation into the ATM card service to gain the customers
satisfaction.
UCB does not give their high attention on advertisement on Newspaper, TV, and
Radio etc. As a competition market it is too much important for any organization to
increasing their advertisements procedure to provide information to the clients &
Probable clients.
Conclusion
United Commercial Bank is one of the most promising private commercial banks in
Bangladesh. Every day United Commercial Bank makes an effort to increase their product
and services although they provide a wide range of product and services. It is committed to
provide high quality financial service to contribute to the growth of GDP of the country and
the growth of industrialization, boosting up export, creating employment opportunity for the
educated youth, raising standard of living of limited income group and overall sustainable
socioeconomic development of the country. UCB always tried its level best to perform
financially well. In spite of trying to do well in some aspects UCB faced some financial
problems from time to time. Some of the problems were-excessive bad loans, shortage of
loans and advances, scarcity of cash in hands due to vault limit etc. These problems arouse
time to time due to economic slowdown, interest rate fluctuation, emerging capital market,
inflation in the money market and so on. Fighting with all these problems and competing with
other banks every moment the bank is trying to do better to best. If this thing continues we
hope that United Commercial Bank will develop even more in the future.