Internship Report

Soneri Bank Ltd, I-9 Branch, Islamabad

Submitted by:
Hasin Nafees Ahmed
BBA-V
Session 2022-23
Supervised by:
Dr. Wasim Abbas Shaheen
Assistant Professor

Quaid-i-Azam School of Management Sciences (QASMS),

Quaid-i-Azam University,
Islamabad

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ACKNOWLEDGEMENT

Firstly, I would like to thank Allah Almighty, the most Beneficent and the most Merciful, for blessing

me with sound health and positive state of mind to complete this internship which is compulsory

requirement for my degree.

I would like to extend my sincere thanks and gratitude to my academic supervisor Dr. Wasim Abbas,

Assistant Professor, QASMS, Quaid-i-Azam University, for valuable advice and guidance towards

completion of this report.

I have great respect and regards for Mr. Rehan Hameed, Branch Operational Manager, I-9 Branch,

Soneri Bank Ltd., for giving me the opportunity to complete this report. I will always remember the

care rendered by him and for constant guidance he provided to me for completing report. He has been

extremely kind to lend me his valuable time whenever I needed.

I am extremely grateful to Soneri Bank Ltd. staff for allowing me to pursue my internship and

continuous support during my entire internship period. I recall with gratitude the inspiration and

support provided by Mr. Raza Muhammad Khan, Senior Relationship Officer, Mr. Zafarullah Khan,

Counter Service Officer and Mr. Sikander Ali, Counter Service Officer of that Branch who assisted me

with their valuable time, suggestions and relevant documents. Overall conduct of officials and staff at

Soneri Bank Ltd, I-9 Branch was quite kind and compliant.

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EXECUTIVE SUMMARY

This report consists of all necessary findings and insights covering organizational profile, which

includes general introduction to banking, organizational goals, values, different departments within

and various areas of services provided by Soneri Bank Ltd.

This report is basis on the entire process of fundamentals of retail banking at Soneri Bank Ltd. and

highlighting the positive aspects as well recommendations in some areas where there is still room for

improvement. After completion of 4th semester of BBA program at QASMS, Quaid-i-Azam

University, Islamabad it was my degree’s requirement to complete my summer internship comprising

time duration of 6-8 weeks.

I have completed my 6 weeks’ summer internship at Soneri Bank Ltd. (I-9 Branch, Islamabad), one of

the largest and most reputable private retail and commercial bank in Pakistan. I worked with several

officers at Soneri Bank Ltd. and my main focus was on learning retail banking. The objective was to

learn core banking fundamentals which includes cash deposit, bill utilities, loan and credit processing.

Basically, this department deals regarding transactions on daily basis and dealing with customers visiting

their respective local branches. They are specialized in providing unique financial services to their esteemed

customers.

In addition to it, I also learned workplace and public dealing, customer and cash management.

Important banking terminologies and basic working phenomena of banks. Use of technology for

customers’ biometric verification and data entry on T-24 (debit and credit entries) were also part of my

training during my internship tenure at Soneri Bank Ltd.

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List of Abbreviations of Terminologies

ADCs (Alternate Delivery Channels)

“Those channels that expand the reach of services beyond the traditional branch channel.”

AML (Anti Money Laundering Act 2010)

AVP (Associate Vice President)

“Rank in banking sector.”

BM (Branch Manager)

“Manages all financial and non-financial activities of the particular local branch of the bank.”

BOM (Branch Operational Manager)

“Manages only financial activities of the particular local branch of the bank.”

BSO (Branch Services Officer)

“Dealing with customers and providing them services.”

CBC (Call Back Confirmation)

“Confirmation call to customers for knowing their response. Useful against financial crimes and
frauds.

CCIG (Compliance Control and Investigation Group)

“It is a unit within Compliance Department that ensures compliance with requirements of State Bank
of Pakistan.”

CDD (Customer Due Diligence)

“It determines the risk rating level after complete identification of the customer before opening an
account.”

CIF (Customer Information Form)

“It is useful in tracing account number of the customer. It is of 10 digits usually.”

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CSO (Counter Service Officer)

“This officer is usually on counter dealing with following banking services such as cash deposit,
withdrawal, fund transfer and utility bills etc.”

CTR (Currency Transaction Report)

“It is a threshold based report given to State Bank of Pakistan.”

CVR (Customer Verification Report)

“It is compulsory verification required for the customer if he/she is willing to open bank account in
name of their business.”

ECL (Exit Control List)

EDD (Enhanced Due Diligence)

“After CDD, if high level risk is found then enhance approach of diligence will be implemented before
opening the account.”

EFT (Electronic Fund Transfer)

“It is transfer of funds and payments in batches.”

EVP (Executive Vice President)

“Rank in banking sector.”

IBAN (International Bank Account Number)

KYC (Know Your Customer)

“Customer identification, verification, CDD and EDD etc.”

KIBOR (Karachi Inter Bank Offer Rate)

“Seller’s Price”

KIBID (Karachi Inter Bank Bid Rate)

“Buyer’s Price.”
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N

NACTA (National Counter Terrorism Authority)

NFE (Non-Financial Entity)

PACRA (Pakistan Credit Risk Agency)

“It maintains and manages financial or non-financial entities ratings over their credit risk
management.”

PEP (Politically Exposed Person)

QoQ (Quarter on Quarter)

“From one quarter to another.”

RTGS (Real Time Gross Settlement)

“It is instantaneous fund transfer system.”

SEVP (Senior Executive Vice President)

“Ranking in banking sector.”

SVP (Senior Vice President)

“Ranking in banking sector.”

T24 Software (Temenos T24 Transact Core Banking Software)

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 Table of Contents

1. CHAPTER 1: ORGANIZATIONAL INTRODUCTION ..................................................................................................... 11

1.1 What Is Bank? ........................................................................................................................................................ 11
1.2 Who Is Banker? ...................................................................................................................................................... 11
1.3 Who Is Banking Customer? .................................................................................................................................... 11
1.4 Types of Banks ....................................................................................................................................................... 11
1.5 History of Banking In Pakistan .............................................................................................................................. 12
1.6 Soneri Bank Ltd. ..................................................................................................................................................... 13
1.6.1 Employees....................................................................................................................................................... 13
1.6.2 Corporate Social Responsibility ...................................................................................................................... 13
1.6.3 Corporate Information ................................................................................................................................... 13
1.6.4 Soneri Associated Subsidiaries ....................................................................................................................... 14
1.6.5 Soneri Bank “Mission Statement” .................................................................................................................. 14
1.6.6 Soneri Bank “Vision Statement” ..................................................................................................................... 14
1.6.7 “Core Values” at Soneri Bank ......................................................................................................................... 14
1.6.8 Board of Directors (BODs) at Soneri Bank ...................................................................................................... 15
1.6.9 Banking Grades with Salaries at Soneri Bank ................................................................................................. 16
1.7 Soneri Banking Departments ................................................................................................................................ 16
1.7.1 Risk Management ........................................................................................................................................... 16
1.7.2 Legal Compliance and Compliance Control Division ...................................................................................... 16
1.7.3 Internal Legal Control and Audit..................................................................................................................... 17
1.7.4 Human Resources ........................................................................................................................................... 17
1.7.5 Legal ................................................................................................................................................................ 17
1.7.6 Corporate and Investment Banking ................................................................................................................ 17
1.7.7 Services ........................................................................................................................................................... 17
1.7.8 Retail Banking ................................................................................................................................................. 18
1.7.9 Transactional Banking ..................................................................................................................................... 18
1.7.10 Financial ........................................................................................................................................................ 18
1.7.11 Service Quality and Marketing ..................................................................................................................... 18
1.7.12 E-Banking and Wealth Management Services .............................................................................................. 19
1.8 Departmental Description: Retail Banking ........................................................................................................... 20
1.8.1 Soneri Current Account .................................................................................................................................. 20
1.8.2 Soneri Savings Account ................................................................................................................................... 20
1.8.3 Soneri Asaan Account ..................................................................................................................................... 21
1.8.4 Term Deposit Account .................................................................................................................................... 21
1.8.5 Foreign Currency Account .............................................................................................................................. 22
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 1.8.6 Pensioner’s Account ....................................................................................................................................... 22
1.8.7 RTGS and Raast ............................................................................................................................................... 22
1.8.8 Agricultural Financing ..................................................................................................................................... 23
1.8.9 Consumer Finance .......................................................................................................................................... 23
1.8.10 Banc assurance ............................................................................................................................................. 23
1.8.11 Wealth Management .................................................................................................................................... 24
1.8.12 Safe Deposit Lockers ..................................................................................................................................... 24
1.8.13 E-Banking and Online Banking ...................................................................................................................... 24
1.9 Soneri Bank I-9 Branch General Info and Hierarchy ............................................................................................. 25
2. CHAPTER 2: PERSONAL WORKING AND LEARNING EXPERIENCE ........................................................................... 26
2.1 Week 1 ................................................................................................................................................................... 26
2.1.1 Role and learnt ............................................................................................................................................... 26
2.1.2 Terminologies ................................................................................................................................................. 26
2.1.3 Role of Branch Operational Manager (BOM) ................................................................................................. 27
2.1.4 Role of Branch Manager (BM) ........................................................................................................................ 27
2.2 Week 2 ................................................................................................................................................................... 28
2.2.1 Role and learnt ............................................................................................................................................... 28
2.2.2 Terminologies ................................................................................................................................................. 28
2.2.3 How does Bank earns money? ....................................................................................................................... 29
2.2.4 What are expenses of Banks? ......................................................................................................................... 31
2.3 Week 3 ............................................................................................................................................................. 32
2.3.1 Role and learnt ............................................................................................................................................... 32
2.3.2 Terminologies ................................................................................................................................................. 32
2.3.3 Why do Bank want more deposits? ................................................................................................................ 33
2.4 Week 4 ............................................................................................................................................................. 34
2.4.1 Role and learnt ............................................................................................................................................... 34
2.4.2 How to trace Account number of customer? ................................................................................................. 35
2.4.3 IBAN Format at Soneri Bank ........................................................................................................................... 35
2.4.3 IBAN vs Account Number ............................................................................................................................... 35
2.5 Week 5 ................................................................................................................................................................... 36
2.5.1 Role and learnt ............................................................................................................................................... 36
2.5.2 Terminologies ................................................................................................................................................. 36
2.5.3 Role of CSOs .................................................................................................................................................... 37
2.6 Week 6 ................................................................................................................................................................... 38
2.6.1 Roles and learnt .............................................................................................................................................. 38
2.6.2 Terminologies ................................................................................................................................................. 38
2.6.3 Role of Relationship Officer ............................................................................................................................ 39
3. CHAPTER 3: P/E, SWOT & PEST ANALYSIS ............................................................................................................... 40
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 3.1 Annual P/E (Profit-Earnings) Analysis of SNBL, I-9 Markaz.................................................................................... 40
3.1.1 P/E Analysis Conclusion .................................................................................................................................. 40
3.2 SWOT Analysis ....................................................................................................................................................... 41
3.2.1 Strengths:........................................................................................................................................................ 41
3.2.2 Weaknesses: ................................................................................................................................................... 42
3.2.3 Opportunities:................................................................................................................................................. 42
3.2.4 Threats: ........................................................................................................................................................... 43
3.3 PEST Analysis ......................................................................................................................................................... 44
3.3.1 Political factors: .............................................................................................................................................. 44
3.3.2 Economic Factors:........................................................................................................................................... 44
3.3.3 Socio-Cultural Factors: .................................................................................................................................... 45
3.3.4 Technological Factors: .................................................................................................................................... 45
4. CHAPTER 4: FINAL CONCLUSION & RECOMMENDATIONS ...................................................................................... 47
4.1 Final Conclusion ..................................................................................................................................................... 47
4.2 Recommendations ................................................................................................................................................. 48
5. REFERENCES............................................................................................................................................................. 49
5.1 References and Other Sources .............................................................................................................................. 49
6. ANNEXURES ............................................................................................................................................................. 50
6.1 Weekly Based Learnings and Tasks ....................................................................................................................... 51
6.2 Internship Report Weekly Schedule Based Submission ........................................................................................ 54

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 1. CHAPTER 1: ORGANIZATIONAL INTRODUCTION

1.1 What Is Bank?

In simple words we can say that bank is an institution that deals regarding flow of money within economy.

Banks gains money at a minimum rate and lends it to the borrower at a higher rate.

“Banks help us to protect and manage our money.”

(Mr. Rehan Hameed, Branch Operational Manager, August 2, 2022)

1.2 Who Is Banker?

“A person who works on behalf of bank and is involved in providing financial services to the customers.”

1.3 Who Is Banking Customer?

“A person who avails and gains services from the bank.”

Customers are bank depositors, entrust their money, banking facilities, for storage and fruiting, for which

they receive interest.

1.4 Types of Banks

 Banks that serve individual customers basis for daily transactions, it's called retail banking. When

banks serve businesses or corporate sector, it's called corporate or commercial banking. Both these

banking types work with same principle; with major difference of client they are serving.

 Investment banks based on needs of clients they invest in securities and stocks plus, they offer high

quality services to various corporate sectors, governments, and other institutions.

 Credit unions such banks focus more on providing financial services to their customers. They are

non-profit type of financial institution.

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1.5 History of Banking In Pakistan

Initial Stages, 1947 – 1970

During early stages, Pakistan had no functional central bank. Habib Bank already established in 1941 filled

that gap in initial stages, until the State Bank of Pakistan (SBP) was established. SBP was given

responsibility to develop extensive networking of commercial banking, and manage monetary stability so

trade and commerce could flourish in the newly-created state. Subsequently, Habib Bank, Allied Bank and

National Bank were amongst the first to start operations and then many more followed after.

Nationalization Policy, 1970 - 1980

Under the nationalization policy implemented by Bhutto regime during 1970s, thirteen banks came under

governmental control. The Pakistan Banking Council was set up to monitor nationalized banks,

marginalizing the SBP’s role as a regulator.

Privatization Policy, 1990 – 1997

In 1990s, nationalization policy was implemented across various industrial sectors in Pakistan including

Banking Sector. More importantly, administered interest rates were streamlined throughout, bank-wise credit

ceilings eliminated and systematic auctioning of governmental securities was initiated.

Reforms in 2000s
The central bank’s regulatory powers were restored via amendments to the Banking Companies Ordinance

(1962) and the State Bank of Pakistan Act (1956). Subsequently, corporate governance, internal controls and

bank supervision was strengthened substantially.

Current Scenario
In 2020-21, there were approximately 67 million depository bank accounts in Pakistan for its population of

228 million, resulting in penetration rate of 29.5%. Number of banking branches grew to 17,000, number of

POS machines reached to 97,000 approximately and number of internet banking users reached 7.5 million.

(Pakistan Revenue, 2022)

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1.6 Soneri Bank Ltd.

Soneri Bank Limited is one of the leading commercial banking institute in Pakistan which was enlisted

on September 28th, 1991, which has an aim to provide high quality financial services to its esteemed

customers. For past several years, Soneri have grown numerous networks of branches all across Pakistan and

now operate with over 360+ branches and ATMs across Pakistan. Soneri’s core areas of operation are retail,

corporate and investment banking services for its clients. Recently, Soneri has taken intiative of Islamic

Banking Division also referred as “Soneri’s Mustaqeem Banking” with over 36 branches currently

operational all across Pakistan.

1.6.1 Employees

According to report in December, 2021, Soneri Bank currently employs 3,477 employees. (From Annexure)

1.6.2 Corporate Social Responsibility

Product icon of Soneri Bank is ‘Sun’ which shines brightly. This indicates that there should be equality in

society without any kind of discrimination at all. (Soneri Bank Ltd., 2022)

1.6.3 Corporate Information

Company Registration No. L-04037, 28th September 1991

Banking License BL-6, February 17, 1992

NTN 0801438-8

Status of Company Public Listed Company

Symbol SNBL

Auditors M/s. KPMG Taseer Hadi & Co. Chartered

Accountants-Pakistan

Legal Advisors M/s. Manan Associates, Advocates

(Soneri Bank Ltd., 2022)

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1.6.4 Soneri Associated Subsidiaries

Soneri bank is associated with these companies:

Rupali Polyester Limited

Rupali Foods (Pvt.) Limited

Rupafil PowerGen (Pvt.) Limited

Spintex Limited

Rupali Nylon (Pvt.) Limited

Pakistan-France Business Alliance

Exide Pakistan Limited

The Hub Power Company Limited

Ghandhara Tyre & Rubber Company Limited

1.6.5 Soneri Bank “Mission Statement”

“We provide Innovative and Efficient Financial Solutions to our customers.” (Soneri Bank Ltd., 2022)

1.6.6 Soneri Bank “Vision Statement”

“To better serve customers to help them and society grow.” (Soneri Bank Ltd., 2022)

1.6.7 “Core Values” at Soneri Bank

We are Customer-centric

We have High Moral Standards

We take Ownership

We are Proactive

We Collaborate (Soneri Bank Ltd., 2022)

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1.6.8 Board of Directors (BODs) at Soneri Bank

Mr. Alauddin Feerasta

(Chairman & Non-Executive Director at Soneri Bank)

Mr. Muhtashim Ahmad Ashai

(President & CEO at Soneri Bank)

Mr. Nooruddin Feerasta

(Non-Executive Director at Soneri Bank)

Mr. Ahmed Feerasta

(Non-Executive Director at Soneri Bank)

Mr. Manzoor Ahmed

(Non-Executive Director at Soneri Bank)

Ms. Navin Saleem Merchant

(Independent Director at Soneri Bank)

Mr. Jamal Hassan Hamdani

(Independent Director at Soneri Bank)

Mr. Muhammad Rashid Zahir

(Independent Director at Soneri Bank)

(Soneri Bank Ltd., 2022)

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1.6.9 Banking Grades with Salaries at Soneri Bank

Grades: Basic Salary:

NCS 25,000 PRs

OG 3 35,000 PRs

OG 2 50,000 PRs

OG 1 75,000 PRs

AVP (Associate Vice President) 130,000 PRs

VP (Vice President) 200,000 PRs

SVP (Senior Vice President) 350,000 PRs

EVP (Executive Vice President) 500,000 PRs

SEVP (Senior Executive Vice President) 635,000 PRs

(Soneri Bank Ltd., 2022)

1.7 Soneri Banking Departments

1.7.1 Risk Management

This department mainly focuses on potential risks of various activities such as credit risks, legal risks,

liquidity risks, leverages related risks, financing related risks and exchange rate fluctuations etc. The core

purpose of this department is to manage and maintain overall competency level of the organization while

ensuring that risks are identified, accessed, monitored and properly controlled to ensure safe long-term

safety and to protect interests of Soneri’s valuable customers.

1.7.2 Legal Compliance and Compliance Control Division

This section undertakes the task of reviewing, follow up and evaluating all policies, procedures and

decisions issued by senior management regarding various banking activities, and indicating their consistency

and compatibility with laws and regulations and most important are the SOPs set by the State Bank. CCIG

(Compliance Control Investigation Group) insures that Soneri Bank meets the requirements and SOPs set by

State Bank.

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1.7.3 Internal Legal Control and Audit

This department has responsibility of diligence and continuous work in order to achieve highest level of

oversight and audit in accordance to latest international systems which is updated from time to time.

1.7.4 Human Resources

One of the most vital department in banking sector, and it bars various responsibilities such as implementing

strategies and policies in accordance to board of directors and senior management will. It effectively ensures

the efficiency and effectiveness of HR procedures and protocols such as recruitment, training, salaries,

benefits and performance evaluation etc.

1.7.5 Legal

Their role is to look into all the agreements that bank intends to sign, as well as to ensure that all the existing

banking contracts are in line with the laws of the Central Bank. It also provides legal opinions, responding to

both internal or external legal queries and acts as a representative for the Soneri Bank.

1.7.6 Corporate and Investment Banking

 Corporate Bank aims to meet the financial needs of various corporate industries. It provides wide range

of financial products that includes both funded and non-funded facilities

 Investment Banking covers the wide spectrum of value added investment banking products, ranging

from capital raising, structured finance, to advisory on merger and acquisition transactions.

1.7.7 Services

This department takes responsibility of managing and maintaining the overall performance level of the

Organization in given areas:

 Information Technology
IT in today’s 21st century is a necessity for normal working procedures especially in banking sector This

department invests all the efforts and human energies to build a sophisticated and latest technological

infrastructure and the best licensed electronic systems that aim at automating banking operations.

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  General Services
This department provides support function by offering solutions to admin related problems and services of

purchase, acquisition and maintenance. It has responsibility to provide timely based solutions to solve

administrative and security related issues and to create an environment which is suitable for both employees

and customers.

 Policies and Procedures

This department ensures that all the existing policies, procedures and protocols of Soneri are in accordance

and duly complies with that of State Bank of Pakistan.

1.7.8 Retail Banking

This department deals regarding transactions on daily basis with customers visiting their respective local

branches. They are specialized in providing unique financial services to their esteemed customers.

1.7.9 Transactional Banking

This department is sub-part of retail banking. It observes and monitors overall transactional activities

at both local branches and online. They supervise financial activities like account closings and overall

transactional balance as well.

1.7.10 Financial

It is considered as one the most important departments in banking sector, as it deals with financial reports

and financial statements. They also give suggestions to BODs and higher management in devising future

policies and to have better future in terms of financial perspective.

1.7.11 Service Quality and Marketing

 Service Quality Department main area of focus is to provide high quality services to its esteemed

clients. Implementing internationally recognized standards and protocols of service quality to ensure

maximum satisfaction level among its customers.

 Marketing Department is responsible for advertising and promoting Soneri Bank’s positive image in

eyes of the public and stakeholders through well organized and effective use of marketing latest

tools.
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1.7.12 E-Banking and Wealth Management Services

 Wealth Product offers wide range of investment products such as Mutual Funds and Banca.

This department specifically tailors itself in accordance to personalized needs of its esteemed

clients so that they can gain maximum financial benefit from investments they have made.

 Soneri provides various banking channels to its valuable customers. In addition, 1 to 1 retail

banking they also provide unique online and electronic banking services to its clients. So, that

they can do banking with ease and continence anywhere and anytime without any interruption

at all. These modes of banking channels have made banking services both effective and

efficient. Through use of online banking, customers not only avail and enjoy high quality

banking services but also save their time and fuel.

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1.8 Departmental Description: Retail Banking

During my internship tenure with Soneri Bank I learnt basics of Retail Banking specifically in

operational section and my main objective was to learn core banking fundamentals which included

cash deposit, bill utilities, loan and credit processing. Among the integral core banking services such as

creating new accounts, biometric verification, cash deposit and withdrawal processing and customer

relationship management.

Soneri offers wide range of unique retail banking services to its valuable customers and such unique

services are as follows:

1.8.1 Soneri Current Account

 In this type of account, no interest rate is provided.

 No restriction on number of transactions.

 High minimum balance required.

 For regular day in and day out transactions.

Sub type: Soneri Ikhtiar Account

It is a type of current account specifically for business account holders. Those who make daily

transactions via their business account. Account holder enjoys many free facilities of daily banking

such as cheque issuance, cheque books, debit cards and online banking.

1.8.2 Soneri Savings Account

 In this type of account, interest is specified earlier on the deposited amount.

 Restricted number of transactions.

 Low minimum balance required.

 For emergency or urgent needs usually.

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 Subtypes: PLS Savings and Soneri Sahara

 PLS is a type of saving account with all checking account features with a study profit growth

rate to one’s savings. PLS only provides profit biannually (1st week of Jan and July)

 Soneri Sahara is a type of saving account for senior old citizens. It provides higher profit

returns and has flexibility to withdraw cash anytime.

1.8.3 Soneri Asaan Account

 It is simple and convenient to create.

 Minimum documentations are required.

 Suitable for the students, self-employed, housewives and daily wagers.

1.8.4 Term Deposit Account

 It is a type of an account for the customers that intend to save or retain savings for fixed part of

time (fixed term) ranging from 1st month to 3 years and helps in earning higher profit returns.

Subtypes: Soneri’s Nigheban Deposit and Soneri’s First Women Term Deposit

 Nigheban and Women Term Deposit Account is a policy of an investment with high returns of

profit upon reaching its maturity. Minimum amount of Rs. 25,000 is to be deposited. It matures

after 3 years and gives profit of 13.5% to 14% interest rate per year.

Soneri’s Nigheban Term Deposit

Tenure Amount Profit Rate Amount in

Profit PRs

1 year PRs 100,000 14% PRs 1,151

2 year PRs 100,000 13.75% PRs 1,130

3 year PRs 100,000 13.5% PRs 1,110

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 Soneri’s First Women Account

Tenure Amount Profit Rate Amount in

Profit PRs

1 year PRs 100,000 14.02% PRs 1,152

2 year PRs 100,000 13.80% PRs 1,134

3 year PRs 100,000 13.55% PRs 1,114

1.8.5 Foreign Currency Account

Soneri also offers foreign currency transactional services to its customer for their ease and convenience

especially for both inward and outward remittances related purposes.

1.8.6 Pensioner’s Account

Branches at Soneri facilitates in effective coordination with pension disbursing departments to ensure

effective and efficient disbursements of pensions to its valuable customers for their ease and

convenience.

1.8.7 RTGS and Raast

 RTGS (Real time gross settlement) is used for instantaneous transfer of payments and funds. It

provides guaranteed delivery. Cost is charged per each transaction and transfer limit is

unlimited.

 Raast is a State Bank of Pakistan backed policy which is used for instantaneous transfer of

payments and funds. It also provides guaranteed delivery. Free of cost instantaneous transfer

and transfer limit of PRs 2,00,000/day.

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1.8.8 Agricultural Financing

Soneri Bank has designed various Agri-financing products for their farming community to avail.

Salient Features:

 Easy and convenient one-time documentation which is acceptable for 3 years.

 Withdrawal and deposit of the funds at the discretion and request of the customers.

 Certain specified markup will be charged on the amount utilized/withdrawn.

1.8.9 Consumer Finance

They are responsible for the asset lending of the bank. Soneri offer various schemes in consumer financing.

 Soneri Car Finance Scheme It is offered by Soneri Bank Limited which offers Car finance facility up

to PRs. 3,000,000/- repayable in 3 years.

 Soneri Ghar Finance It is a credit facility that Soneri provides to its customers so that it can help

them in financing of house, furnish and maintain it. Financing flexibility can be as low as PRs.

500,000 and as much as PRs. 75 million with flexible tenure for repayments.

 Soneri Personal Finance SNBL offers Personal finance up to PRs. 1 million repayable in 4 years in

equal monthly installments.

1.8.10 Banc assurance

It is basically innovative strategic arrangement of partnership between insurance companies

and banks. Where banks serve as channels to sell insurance services or benefits to its clients.

Soneri Bank Official Banc assurance partners are as follows:

 IGI Life Insurance Ltd.

 EFU Life Assurance Ltd.

 Jubliee Life Insurance Ltd.

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1.8.11 Wealth Management

Soneri Bank offers tailored investment solutions and large variety of investment products in order to

facilitate their customers.

Benefits and unique propositions of investing in mutual funds of SNBL:

 Diversified

 Highly Professional.

 Liquidity.

 Transparent and highly regulated.

1.8.12 Safe Deposit Lockers

These lockers are available for all customers of Soneri Bank:

Special Features:

 Available in various locker sizes i.e. small, medium and large.

 Locker size of choice and preferred by the clients.

 High level of protection and complete privacy.

 Free insurance maximum based on size of locker.

1.8.13 E-Banking and Online Banking

Soneri provides various banking channels to its valuable customers. In addition, 1 to 1 retail banking

they also provide unique online and electronic banking services to its clients. So, that they can do

banking with ease and continence anywhere and anytime without any interruption at all. These modes

of banking channels have made banking services both effective and efficient. Through use of online

banking, customers not only avail and enjoy high quality banking services but also save their time and

fuel.

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1.9 Soneri Bank I-9 Branch General Info and Hierarchy

Branch Code 0111

Branch I-9 Markaz, Islamabad

Name

BM Name Arshad Nadeem

BOM Name Rehan Hameed

Region Islamabad

Group North

Date of August 19, 2009

Opening

Covered 1228Sqft. / PKR 185K Per Month

Area

(From Annexure)

Branch Manager
(Arshad Nadeem)

Branch Operational Manager Relationship Officer

(Rehan Hameed) (Raza M. Khan)

Customer Services Officer

(Sikander Ali)

Customer Services Officer

(Zafarullah Khan)

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 2. CHAPTER 2: PERSONAL WORKING AND LEARNING EXPERIENCE

2.1 Week 1

2.1.1 Role and learnt

“Floor Management”

Dealing with customers and managing the customers that visit the branch.

Learning how to use printer, scanner, file maintenance and how to use MS Outlook (which

helps in inter connecting mails of colleagues at offices)

2.1.2 Terminologies

1) Proceed Awaiting Account

If large chunk of money is injected and deposited to the bank for the pay cheques or salaries of its

employees. Banks then keep that money in “Proceed Awaiting Account”.

2) Replenishing

Adding cash amount into ATM machine by Operational Managers is “Replenishing”.

3) CBC (Call Back Confirmation)

When 3rd party is doing transaction on behalf of actual account holder, in this case banks make

confirmation or verification calls to determine authenticity of 3rd part involved.

4) RTGS (Real Time Gross Settlement)

It is a high speed instantaneous fund transfer system through which money and securities can be

transferred from one bank to another on a “real time” and on “gross” basis.

5) Earnest Money

It is a sense of positive faith. A money deposit made to the seller that represents buyer’s positive faith

to buy it.

26
2.1.3 Role of Branch Operational Manager (BOM)

 Deals regarding financial services provided and also supervises operational activities

provided at their respective branch.

 Ensures whether their branch has maintained high degree of accuracy or not!

 They also ensure to work that procedures at their branch related to cash on hand totals

armored car picks, facility maintenance and other subjects are handled properly.

 Other tasks performed by the BOM includes ensuring invoices in areas such as utilities, rent

and maintenance are approved and paid in timely manner.

 Plays vital role in recruiting and training of new employees.

2.1.4 Role of Branch Manager (BM)

 Acts as an ambassador of the bank in his/her area of operation. Public Relations man for

enhancing the image of bank.

 Leader and mentor for his branch team.

 Managing and supervising both operational and relationship based activities in his/her area of

command.

Note:

Branch Manager main purpose is to increase banking profits. By increasing cash deposits

and increasing banking loans.

In absence of Branch Manager (on leave), BOM works temporarily as Branch Manager.

27
2.2 Week 2

2.2.1 Role and learnt

Floor management. Finding discrepancies and missing signature verifications from documents.

Cheques

If cheque is of Rs. 250,000/- at least then only CNIC + CBC

If cheque is of Rs. 500,000/- at least then CNIC +CBC + Verisys is required

If Cheque is of Rs. 2 million/- or more then CNIC + CBC + Verisys + CTR form

Cash Deposit

If Cash Deposit is of Rs. 500,000/- at least then CNIC+ Verisys

If Cash Deposit is of Rs. 2 million/- or more then CNIC + Verisys + CTR form

Note:

CTR (Currency Transaction Form) is required by State Bank of Pakistan when transaction

amount is at least 2 million or more.

CBC (Call Bank Confirmation) is only required in case of 3rd party doing transaction on behalf

of account holder.

2.2.2 Terminologies

1) CTR (Customer Transaction Report)

It means to report on each transaction which exceeds 2 million or above to State Bank of

Pakistan. It is a threshold based report on each transaction. Part of AML (Anti-Money

laundering Act).

2) ADCs (Alternate Delivery Channels)

Channels that expand the range and reach of services beyond traditional banking. ATM,

online and mobile banking etc. “Anytime, Anywhere and Anyhow!”

28
2.2.3 How does Bank earns money?

As Bank is a profit oriented industry so question arises how it earns the money and generates the revenue for

its self-sustenance.

There are two major source of Bank income: interest and fees.

1 Interest Income

They make money from the interest on debt, or the “debt interest.” The bank makes a profit from the

difference between these two interest rates, also known as the interest rate spread. Largest earning

source for banks is by lending loans bearing high interest rates.

KIBOR-KIBID = Interest Rate Spread

KIBOR and KIBID Rates on September 28, 2022 were 15.14% and 14.64%

Banks can offer either secured or unsecured loans.

Secured loans are loans on which banks can get collateral These are one of the largest sources of

income for retail banks. Unsecured loans are risky for the banks because they offer no collateral to

secure in case of default. Such as personal finance and debit card etc.

2 Fee Based Income

Account Maintenance fees

Although since online banking is becoming more and more common now days. But still people prefer retail

banking and open their banking accounts. Banks on monthly and quarterly basis deduct fees from its

customers’ accounts. This type of fee is also referred as “Account Maintenance Fees”

29
 Minimum balance fees

In addition to account maintenance fees banks also charge their customers especially those having saving

accounts in case their account balance drops below a certain threshold.

ATM fees

Sometimes customers are in urgent need of cash and if there is no nearby ATM of the bank they are client of

then in such case they make withdrawal from ATM of a bank where they don't have an account, as a result

extra charges are levied on them which can be around Rs 20 to Rs 35 per withdrawal.

Overdraft or insufficient fund fees

If a customer tries to draw more money, then what he/she have in their respective accounts. Plus, in another

case when the cheque bounces back then in these cases overdraft or insufficient funds fees are charged.

Excessive withdrawal fees

Saving Accounts unlike current accounts have limited number of transactions allowed. If that limit is

crossed, then charges are levied on customers.

Interchange fees

When a customer makes in-store purchase through debit card rather than a cash. In this case, certain fees are

levied on the customers which they are liable to pay.

30
2.2.4 What are expenses of Banks?

A bank's liabilities fall into two categories: interest expenses and non-interest expenses.

Interest Expenses

In case of saving and term deposit accounts, Banks must possess an ability to pay back its interest expense in

addition to principle amount.

Retail banks which offers services of deposits usually have large debt loads that incur significant interest

payments. Banks must always maintain the ability to pay back the interest they owe, or else they risk

insolvency and financial distress.

Operational Cost (fixed)

Non-interest expenses are a bank's fixed operating costs, also known as overhead costs. These total about 20-

30% of the bank's total expenses.

The most significant non-interest expense for a bank is employees’ salaries and benefits, hiring and training

costs of personnel. Other expenses include rent, equipment, taxes, and professional services like legal

counsel and marketing etc.

Note:

Although Banks official closing time is around 5:30 PM but usually BOM and CSOs stay overtime at

Branches for closings of transactions on daily basis. Due to recent energy crisis in country, higher

management at Soneri advised all the managers at their respective branches to close the daily

transactions by 6:00 PM at max. Higher management at Soneri took into consideration fixed

operational costs especially energy billings as it might hamper them in generating higher revenues.

(Mr. Rehan Hameed, Branch Operational Manager, September 4, 2022)

31
 2.3 Week 3

2.3.1 Role and learnt

Finding discrepancies and document completion, account entries, sorting and maintenance of files.

2.3.2 Terminologies

1) T24 Banking Software

It is integrated corporate banking core system and has functional depth capability of retail, business,

corporate banking, wealth management, treasury and financial risk management.

2) Pay order (Banker’s Cheque) and Cheque

Pay order is an instrument issued by bank and the it would be honored by the bank and not the

customer. A cheque is issued by the customer and bank is not under obligation to honor and

‘\would honor only if there are sufficient funds available in the account.

It is the safest mode of cash transaction as compared to “cash” (unsafe and insecure) and

“cheque” (uncertainty and lack of clarity).

3) Normal Cheque vs Cross Cheque

In case of normal cheque cash receiver can withdraw cash from any branch of the bank. Whereas

in case of cross cheque, it has a pre-requisite to visit the specific branch of bank having cash

receivers account.

4) KYC (Know Your Customer) and KYC Risk Rating

It’s a phenomenon in which bank obtains information about the identity and address of

customers. It’s a procedure completed by banks while opening bank accounts and is updated from

time to time periodically.

KYC is basically measure of potential money laundering or financial crimes customers might

bring to the firm. Three categories:

1.) Low risk.

2.) Medium risk.

3.) High risk.

32
2.3.3 Why do Bank want more deposits?

Basically, I worked in I-9 Markaz Branch of Soneri Bank. I-9 Markaz is basically referred as Industrial Area

because majority of high tech industrial units located in twin cities (Islamabad and Rawalpindi) are situated

in this sector of Islamabad. All the major commercial banks of Pakistan have their branches located in this

sector including Soneri Bank. Main reason for presence of all major commercial banks in this sector is to

collect maximum amount of cash deposits from industrial sectors located in this region.

Now coming to my main point, the reason why banks focuses on attracting cash depositors to deposit large

chunks of cash in their respective banks are:

While banks do not need the deposits to create loans, they do need to balance their accounts; and

attracting customer deposits is usually the cheapest way to do it.

In order to maintain excessive reserves of safety as an extra measure of precaution in case of

excessive loss or withdrawals from the customers.

Plus, reduces risks of lending from other financial entity.

(Zafarullah Khan, Counter Service Officer, August 8, 2022)

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 2.4 Week 4

2.4.1 Role and learnt

Working on Excel Sheet doing data entries, account entries (debit-credit), biometric verification

of customers with dormant accounts and documents completion.

Accounting Entries at Banks:

1.) Amount of cash offloaded from ATM and transferred to the Cashier’s till

General Ledger:

Cashier’s Till (D) ………………………………………………………………

Notes in ATM (Cr) ……………………………………...

2.) Amount of cash replenished in ATM

General Ledger:

Notes in ATM (D)………………………………………………………...

Cashier’s Till (Cr) ………………………………………

Note:

When cash is received, cash account is debited (D). When cash is paid out, the cash account is credited (Cr).

34
2.4.2 How to trace Account number of customer?

Ask account holder customer his/her CNIC ID.

Through CNIC it is easy to get CIF (Customer Information Form) number of account holder.

Through CIF number one can trace the account number of the customer.

Note:

Customer can open various accounts in same bank using same CIF number.

In case of Joint Account, if for example one person has already existing CIF number and other

person don’t. Then new CIF number is designated for “Joint Account”.

2.4.3 IBAN Format at Soneri Bank

PK10SONE00111200XXXXXXXX

Country Code Cheque Digit Branch Code Soneri Format Account

Number (11 digits)

2.4.3 IBAN vs Account Number

IBAN is not a new account number but simply a new format for an existing account bank account

number that is recognized internationally.

It facilitates payments and remittances transactions while improving speed and accuracy.

35
2.5 Week 5

2.5.1 Role and learnt

Biometric verification of account holders with dormant accounts, data entries and finding max, min

and average values from all the transactions made by Drug Services Pharmaceuticals Pvt. Limited

with Soneri Bank throughout annum (as Drug Services Pvt. Limited Company was asking for large

sum of loan, so it was necessary to check their payback ability) and learning basics of account

opening process in banking.

Online Account Opening Process in Banking:

6-steps procedure:

6) Additional
1) Basic Customer 4) Instant Account 5) Customer Due Compliance and
2) ID Verification 3) CIF no. creation
Data Capture Creation Diligence final account
approval

2.5.2 Terminologies

CDD, PEP & EDD

Customer Due Diligence (CDD) is the process of evaluating your customers’ background to

determine their identity and the level of risk they possess. This process is done by assessing a

customer’s name, photograph on an official document and residential address.

36
 If risk factor in KYC and CDD is slightly on higher sides than banks preferably go for Enhanced Due

Diligence (EDD). Enhanced Due diligence (EDD) is process which helps in scrutinizing those risks

which cannot be detected by Customer Due Diligence (CDD) process.

EDD is very much essential for those customers who have been classified under high risk category

by the system. The main purpose to have this enhanced level of due diligence is to mitigate the

increased amount of risks and to make sure that the organization follows the prescribed standards of

regulatory compliance.

Politically Exposed Person (PEP) both directly or indirectly are usually placed in category of high

risks under both KYC and CDD. Thus, EDD is compulsory in case of Politically Exposed Person.

Bank Safety Protocols during Account Creation:

1) World Check 2) KYC (CDD, Customer

3) NACTA Inquiry
Screening Identification and EDD)

World Check Screening is used for confirming whether the customer is on black list or he is involved in any

illegal activity or either his name is on Exit Control List (ECL)

2.5.3 Role of CSOs

The role of a CSO (Customer Service Officer) is mostly related to carrying on day to day operations at a

branch. The job responsibilities include clearing cheques, account maintenance, opening or closing various

types of accounts, and other tasks related to operations.

37
2.6 Week 6

2.6.1 Roles and learnt

Biometric verification of account holders with dormant accounts, data entries and finding max, min and

average values from all the transactions made by Drug Services Pharmaceuticals Pvt. Limited with Soneri

Bank throughout annum (as Drug Services Pvt. Limited Company was asking for large sum of loan, so it

was necessary to check their payback ability) and learning basics of account opening process in banking.

2.6.2 Terminologies

Islamic Banking at Soneri Bank is often referred as “Soneri’s Mustaqeem Islamic Banking”.

Murabaha (Cost Plus Financing)

Basically Banks’s purchases customer desired assets from the suppliers and then sell it to customer at

Agreed Price (including disclosed portion of profit) on deferred or on spot payment.

Ijarah (Leasing)

It means to transfer a particular property to another person in exchange for rent claimed from him.

Payable rent to the Lessor is called “Ujarah”. Lesse is the one who pays rent and enjoys the property in

exchange for rent payed.

Sal’am

In Islamic Banking, it is also referred as “Sale” in which seller undertakes to supply specific goods to the

buyer in future date in exchange for fully advance price on spot, but supply goods will be deferred.

Advantages of Sal’am

1. Seller gets full price in advance.

2. Buyer gets to pay slightly lower price. Since price in Sal’am is slightly lower than the price on

spot.

38
 Musharkah

“It is a joint partnership arrangement in Islamic finance in which profit and losses are shared.”

Mudarabah (Profit Sharing)

It is a partnership in which one party provides the capital and other party provides labor and both parties

have share in the profits.

Party providing capital is called “Rab-ul-Maal” (Silent Partner)

Party providing labor is called “Mudarib” (Working Partner)

Islamic Depositary Products at Soneri

 Soneri’s Jaari Account (Current Account)

 Soneri’s Bachat and Munafa Account (Saving Account)

 Soneri’s Meaadi Account (Term Deposit Account)

 Mustaqeem Rahat Account (Asaan Account)

(Mr. Raza Muhammad Khan, Senior Relationship Officer, August 31st, 2022)

2.6.3 Role of Relationship Officer

 Primarily focuses on client relationship management, such as client acquisition, provision of personal

financing advice and ongoing servicing in retail banking.

 Maintains positive reputation of firm they are representing.

 Looks for trends, handle and control problems, analysis and negotiation.

39
 3. CHAPTER 3: P/E, SWOT & PEST ANALYSIS

3.1 Annual P/E (Profit-Earnings) Analysis of SNBL, I-9 Markaz

20-June 2022 ACTUAL PE 2021-22 (In millions)

31-Dec-21 20-June-22 %age change

Current Deposit 541 548 1%

Saving Deposit 270 401 49%
Term Deposit 143 4 (97%)
Total Deposit 953 953 0%
BANCA 155 411 165%
Total ADCs 771 178 (77%)
Revenue 30 20 (35%)
Profitability 13 12 (7%)

(From Annexures)

3.1.1 P/E Analysis Conclusion

1. Due to recent economic uncertainty and price hikes customers of banks are preferring to open saving

accounts over both current and term deposit accounts (specific time of maturity). As saving accounts

offer timely attractive returns in addition to principle amount deposited.

2. Banca has hiked at percentage ratio of 165% in past year and so at Soneri Bank I-9 Branch mainly

due to presence of Sales Officer working on payroll of IGI life Insurance.

3. ADCs (Alternate Delivery Channels) usage has declined in comparison to last year because of

following reasons:

Last year due to Covid-19 restrictions (social distancing) customers preferred online or

mobile banking over one to one retail banking.

“It (Soneri Mobile Banking application) seemed easy to use last year and was quite

responsive but now days it hangs up and is unresponsive most of the times.”

40
3.2 SWOT Analysis

3.2.1 Strengths:

 PACRA (Pakistan Credit Rating Agency Ltd.) has responsibility of monitoring credit rating of banks.

SNBL has been awarded “AA-” for long term, “A1+” for short term and “A+” for term finance. This

clearly represents Soneri Bank well maintained credit risk assurance, preserved asset quality and

sound finances.

 From above PE statistical data analysis its clearly evident that Soneri has established smart effective

strategic arrangements with Insurance companies to enhance Bancassurance.

 SNBL collaborates with different cellular companies to provide mobile banking on their customer

cell phone.

 Employees at Soneri Bank are fairly satisfied (up to 72% based on reviews of Glassdoor satisfaction

chart). HR practices at Soneri like quality of supervision, benefits and compensation and teamwork

increases overall satisfaction level of employees at workplace.

 Soneri has introduced innovative and easy to learn training programs for its CSOs. In order to bring

effective and efficient performances from its employees.

 SNBL has vast network of branches throughout the Pakistan up to 360+ which makes it customer

friendly and convenient for its loyal customers.

 SNBL focuses on consumer banking by offering lucrative schemes, products and services suiting

with the wants and demands of customers such as Soneri’s First Women Account, Nigheban Scheme,

Car finance, Ghar finance and personal finance.

 Introduction of modern technology from time to time for ease and convenience of its loyal

customers.

41
3.2.2 Weaknesses:

 Advertising and marketing of Soneri Bank is one if it’s key weakness. Effective and efficient

advertising plays vital role in increasing customer base, customer loyalty and retention.

 Soneri doesn’t offer billing services to its customers related to PTCL whereas other competitors offer

this service.

 Soneri Bank has no functional branch in any other country. So bank has to incur additional costs for

correspondent banking.

 Mobile banking is an exceptional unique selling feature of Soneri Bank which worked quite well

during Covid-19 restrictions. But after normalization of activities Soneri has not added any unique

features in its mobile banking application. As a result, earning of Soneri Bank through ADCs has

declined quite a lot in FY-22 (till June, 2022) as compared to FY-21.

3.2.3 Opportunities:

 It is obligatory to make progress with consistency as well as to adapt changes from time to time. In

current prevailing scenario, Soneri should try to penetrate further and capture various corporate

customers as well as retail customers by expanding their networks.

 Soneri should introduce various new special products of offering from time to time to attract new

customer base and retain existing customers.

 SNBL has took an impressive step of introducing Islamic Banking with nearly 30+ branches

throughout country specifically dealing with Islamic Banking. This is a innovative way of attracting

religious conscious valuable customers.

 SNBL should improve its marketing and advertising as it would be good step for growth of

organization.

 SNBL should open more branches in rural areas to further increase its customer base.

 SNBL can also enjoy handsome share of return by investing in capital markets in foreign countries.

42
3.2.4 Threats:

 Current economic uncertainty and rising inflation in Pakistan is causing high price levels of

commodities which is leading decrease in savings. Thus, in future deposits of banks will decrease

which is major threat to banking sector.

 Number of banks are gradually increasing and it’s likely in future that foreign banks will soon

become operational in Pakistan which can be a direct competitor to Soneri.

 SNBL competitors are offering similar products of offerings such as Ghar, Car and personal finance.

Thus, competitor’s unique offerings might be a major threat to SNBL in future

 Decreasing profit rates on saving products will make customers to explore for other opportunities

offered by competitors of SNBL.

 Conclusion:
Banking industry is considered as one of the fastest growing industries in Pakistan although it faces various

challenges and risks.

SNBL has shown positive trajectory in both strengths and opportunities within the market. By mitigating its

weaknesses and threats SNBL can increase its customer base and expand its branches throughout the

country. Thus, I can conclude SNBL is adopting path of constant growth and progress which indicates

implementation of growth strategy (Rashidi & Rahman, 2013).

43
3.3 PEST Analysis

3.3.1 Political factors:

The current situation of politically dilemma is directly influencing banking policies. However, SNBL as

always tries best to keep itself way from the politics but it is not an easy task. SNBL has no accounts of

political leaders or parties.

According to Banking Companies Ordinance, 1962, SBP (State Bank of Pakistan) has the responsibility to

carry out inspection of banks policies and regulations. Thus, changing policies of the government, affects

SBP which in return affects the SNBL rules and policies.

3.3.2 Economic Factors:

Uncertain economy of Pakistan and instable governance is adversely affecting SNBL and its different

departments. Current prevailing economic conditions of Pakistan is leading to slow and stagnant growth in

business sector which results in low profits and Pakistan stock market is in great danger. Pakistan’s foreign

debts are rising day by day, so such a situation is a huge challenge for SNBL to deal with. Due to financial

crisis in Pakistan the management of SNBL has to work in stressful environment.

Another rising challenge is abrupt rise in saving accounts holders under currently ongoing fragile economic

conditions. Thus, SNBL has to fulfill its promise of timely returns of profits to its customers irrespective of

economic condition.

Macroeconomic indicators like overall inflation, debt ratio and GDP growth plays vital role in influencing

SBP to change its policies from time to time. Thus, new polices devised by SBP affects Soneri Bank Ltd. to

change its organizational procedures and protocols to comply with SBP policies.

44
3.3.3 Socio-Cultural Factors:

Corporate social responsibility and culture of any organization should be based on norms and values

acceptable to society in which they operate.

The ideology that Soneri Bank follows is inspired by the Sun — as it shines on each and every individual,

without discrimination and bringing equality. Maintaining high moral standards which is an integral part of

corporate culture at Soneri actually depicts the moral values upheld by individuals in Pakistani society.

There was a time when Bankers throughout the world including Pakistan had to clean shave and it was

mandatory but SNBL like other Pakistani Banks has given ease to is employees in this regard as they know

that beard is considered sacred in both Islamic and Pakistani culture. In addition to it, SNBL branches in

Gilgit Baltistan and Chitral has allowed its employees to wear Shalwar Kameez on Friday in order to

promote nationalism and dress that means a lot to people of society.

3.3.4 Technological Factors:

Soneri provides various banking channels to its valuable customers so that they can do banking with

ease and continence anywhere and anytime without any interruption at all. These modes of banking

channels have made banking services both effective and efficient. Through use of online banking,

customers not only avail and enjoy high quality banking services but also save their time and fuel.

Core banking software like T-24 has made it possible to do various banking activities like account opening,

cash deposits, billings, RTGS and getting immediate account balance quiet easy and fast. MS-Outlook has

made it easier for managers and banking officers working in same organization of different branches to

interact with one and another and resolve issues within minutes.

Soneri must introduce Cash Deposit Machines at their respective branches. It will help in balancing

workload and improve banking services provided to customers in terms of quality and saving time.

45
  Conclusion:

The banking industry must comply by rules and regulations implemented by the SBP which is further

accountable to government. In what particular way they offer services is determined by politics and current

governmental laws. In short, Banks have a duty to comply with governmental policies otherwise they might

be heavily charged or shut down. Banking-Tech is helping consumers spend and save money through effective

online services.

46
 4. CHAPTER 4: FINAL CONCLUSION & RECOMMENDATIONS

4.1 Final Conclusion

My time at Soneri Bank was valuable learning experience for me. I learnt plenty of new skills,

acquired banking knowledge and gained valuable insights that will help me in deciding my future

career pathway.

After doing detailed Performance, SWOT and PEST analysis of Soneri Bank I have reached to final

conclusion that Soneri is on path to constant growth, improving with every passing year and one of

the most progressively growing banking organization in banking sector. Yet there are some areas

where there is still some room for improvement. Based on above detailed analysis and what I

observed during my 6 weeks of internships at Soneri Bank I would like to give them some valuable

recommendations.

While there are challenging times ahead, Soneri management remains quite optimistic and confident

about their future, and aims on serving the growing needs of the society.

47
4.2 Recommendations

 Soneri must improve its mobile banking services and bring latest mobile banking features to

its application. This will play vital part in increasing ADCs related earnings of Soneri and

create sense of ease in mind of customers that they don’t have to visit branches every now

and then.

 Soneri must also introduce billing service related to PTCL to its customers as majority of

competitor banks offer this service to their respective customers. Thus, Soneri must start

providing this service as early as possible so that potential prospects and customers might not

get influenced by banking services of competitor banks and end opening accounts in other

banks.

 Although Soneri has to comply with protocols of SBP when opening new banking accounts

as it is good for ensuring safety and reputation of the bank. But according to some customer’s

bank account opening procedure at Soneri is bit lengthy process.

Standard Account Opening time duration (with complete protocols): 3-4 days

At Soneri: 5-7 days

Thus, Soneri has to speed up its’s account opening process for the convenience of its valuable

customers.

 Soneri must improve its marketing and advertising campaigns as it plays important role in

retaining and creating customers.

 Soneri must introduce functional branches all across globe specifically cities that are business

hubs of world. It will help in increasing brand image and recognition of Soneri Bank all

around the globe. Further it will increase cash deposits reserves of Soneri and lower the costs

that incurs when Soneri involves 3rd party financial service providers such as Money Gram

and Western Union etc. when dealing in foreign transactions.

48
 5. REFERENCES

5.1 References and Other Sources

Soneri Bank Ltd. Core Values, Mission and Vision Statement retrieved on September 30th, 2022

from https://www.soneribank.com/about-us/profile-of-company/core-values/

History of Banking in Pakistan retrieved on October 3, 2022 from https://pkrevenue.com/total-bank-

accounts-in-pakistan-grow-to-66-13-million/

Board of Directors (BODs) at Soneri Bank Ltd. retrieved on October 1st, 2022 from

https://www.soneribank.com/about-us/governance/board-of-directors/

Rashidi, A. A., & Rahman, M. ur. (2013). Retention Issues in Banking Industry of Pakistan: A Case

Study of Habib Metro and Soneri Bank. JISR Management and Social Sciences & Economics, 11(1),

57–66. https://doi.org/10.31384/jisrmsse/2013.11.1.4

49
6. ANNEXURES

50
6.1 Weekly Based Learnings and Tasks

51
52
53
6.2 Internship Report Weekly Schedule Based Submission

54
55