EVOLUTION OF BANKS IN PAKISTAN First

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Internship Report




By



                         ANUM SHAKIR




                            April, 2010

  Internship Report on NBP, Karianwala Branch Gujrat   1
In the Name of




  Most Merciful and Compassionate the Most Gracious and Beneficent
                    whose help and guidance I always
                  Solicit at every step, at every moment.




   Internship Report on NBP, Karianwala Branch Gujrat                2
INTERNSHIP REPORT ON

                     National Bank of Pakistan
                       Karianwala Branch, Gujrat.




 Internship report submitted to business of the administration sciences,
 University of Gujrat in partial fulfillment of the requirements for the
         degree of masters of business administration (MBA) degree




By




                            ANUM SHAKIR
                                (08031020-081)
                               MBA-FINANCE
                              Session: 2008-2010




     Internship Report on NBP, Karianwala Branch Gujrat                    3
                 SCHOOL OF BUSINESS

               UNIVERSITY OF GUJRAT




Internship Report on NBP, Karianwala Branch Gujrat   4
Internship Report on NBP, Karianwala Branch Gujrat   5
 Faculty of Management and Administrative Sciences
              University of Gujrat, HH-campus


                               Internship



Supervisor:


NAME:                        -----------------------------


DESIGNATION                  -----------------------------


SIGNATURE                    -----------------------------




Chairman:


NAME                         -----------------------------


SIGNATURE                    -----------------------------




   Internship Report on NBP, Karianwala Branch Gujrat        6
                      EXACUTIVE SUMMARY



My report is comprised upon four section 1st section denote the introduction
of internship, and purpose of purpose, and 2nd is over all role and functioning
of bank (Highlights the operations and functions of bank) and 3rd one is about
NBP history, introduction, performance, etc and 4th section denote that
policies and strategies of NBP and success.5th is about SWOT analysis, pest
analysis, ratios analysis and chapter 6th consist on some recommendations and
suggestion. Banks acts as financial agents to their customer; in return they get
reward for their services. Banks play important role in development of society.
A strong economy must have a good banking system.


National Bank of Pakistan is one of the leading banks in Pakistan. According
to international standards of banking system it is one of the best banks in
South Asian region as well as the bank, which is, come the top ten in the
world. This report explains how different functions of NBP works and what
are their services.


Introduction denotes that what is the purpose of my internship. After that how
banking enter in the Pakistan. What is its working structure? It is review and
organizational structure.




    Internship Report on NBP, Karianwala Branch Gujrat                        7
                       ACKNOWLEDGEMENT



For the completion of our report I am indebted to plenty of people for their
very sincere cooperation that they extended to me at various stages. First and
foremost problem that every student faces is the selection of a Report. I am
very thankful to my friend Sara for helping me out in time of confusion.
During our course and the execution of my report, I had a real chance to learn
from his vast experience and immense knowledge.


I am very thankful to staff members of National Bank of Pakistan Karianwala
Branch, Gujrat. That they have guide and provide me valuable information
regarding my report.


Finally I am thankful to the most merciful and Almighty Allah who gives me
the strength that I fulfill my task. With efficiently.




    Internship Report on NBP, Karianwala Branch Gujrat                      8
                              Table of contents

Executive Summary                                                         VI
Acknowledgement                                                           VII
CHAPTER NO. 01
      Introduction of Internship Report
      Introduction………………………………………………..…01
      1.1     Background of study…………………………………………...…01
      1.2     Purpose …………………………………………………………………01
      1.3     Scope……………………………………………………………………..02
      1.4     Objective……………………………………………02
      1.5     Methodology………………………………………..03
               Primary Data
               Secondary Data
      1.6     Organization…………………………………………03
      1.7     Summary…………………………………………….04


CHAPTER NO. 02
      NBP and its role & Functions
      Introduction …………………………………………………..05
      2.1     NBP in Pakistan……………………………………..05
      2.2     Role of NBP in Pakistan…………………………….07
               Products of NBP
      2.3     Overall organization & functions of organization in Pakistan….10
               Functions of NBP in Pakistan

      2.4     Organization Office In Which I done my work…………………13
      2.5     Summary………………………………………………………....14



CHAPTER NO. 03
      Introduction of NBP
      Introduction ……………………………………………………………….15
      3.1     Brief history of NBP……………………………………………..15
               Mission
               Vision


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              Goals and objectives NBP
              Board of directors
              Management
                Organizational chart of NBP
     3.1.1   Relationship of head office to the branch office………………21
     3.1.2   Departments of NBP


              Cash Department
              Clearance Department
              Advances Department
              Remittances Department
                 &
              General Banking
              Inquiry Section

     3.1.3   Office or field offices…………………………………………...28
     3.2     Current staff……………………………………………………..30
     3.2.1   Current staff in branch according to qualification & experience30
     3.2.2   Training received by no. of employees……………………….....30
     3.2.3   Workload………………………………………………………...31
     3.2.4   Salary structure…………………………………………………..31
     3.2.5   Promotion system……………………………………………......31
     3.2.6   Incentive & Motivation………………………………………….31
     3.2.7   Responsibilities………………………………………………….32
     3.3     Critical analysis of the branch…………………………………..32
     3.3.1   Communication system…………………………………………32
     3.3.2   Hiring system……………………………………………………33
     3.3.3   Morale of staff…………………………………………………..33
     3.3.4   Physical facilities………………………………………………..33
     3.4     Performance……………………………………………………..33
     3.5     Latest budget reviews…………………………………………...34
     3.6     Summary………………………………………………………..34


CHAPTER NO. 04
     NBP Policies & Strategies
     Introduction………………………………………………………………35
     4.1     Policies………………………………………………………….35
     4.2     Strategies………………………………………………………..35
     4.3     Success………………………………………………………….36
     4.4     Summary………………………………………………………..39



  Internship Report on NBP, Karianwala Branch Gujrat                             10
CHAPTER NO. 05
       Different analysis of NBP
       Introduction………………………………………………………………40
       5.1   SWOT analysis…………………………………………………40
       5.2   PEST analysis…………………………………………………..43
       5.3   Ratios analysis………………………………………………….45
       5.4   Summary……………………………………………………….49


CHAPTER NO. 06
       6.1   Introduction…………………………………………………….50
       6.2   Recommendations …………………………………………….56
       6.3   Summary
  List of Abrevations…………………………………………….X
  References ……………………………………………………..XI




LIST OF ABBREVATIONS:

NBP          National Bank Of Pakistan
MBA          Master of Business Administration
IT           Information Technology
SBP          State Bank of Pakistan
UK           United Kingdom
DD           Demand Draft
USA          United State of America
PLS          Profit And Loss Saving Account
DM           Deutsche Mark
DF           Demand Finance
IBC          Inward Bills for Collection
OBC          Outward Bills for Collection
SME          Small Medium Enterprises
A/C          Account
TT           Telegraphic Transfer
MT           Mail Transfer
FDD          Foreign Demand Draft
ACR          Annual Confidential Report
MCB          Muslim Commercial Bank
HBL          Habib Bank Limited
ABL          Allied Bank Limited
ROA          Return on Assets
ROE          Return on Equity
ROD          Return on Deposit
SWOT         Strength, Weakness, Opportunities, Threats


  Internship Report on NBP, Karianwala Branch Gujrat      11
ATM          Automated Teller Machine




  Internship Report on NBP, Karianwala Branch Gujrat   12
REFERENCES:

I collect this information from:
    National Bank, Annual Reports
    State Bank of Pakistan Prudential Regulation for Corporate and
       Commercial Banking
    State Bank of Pakistan BPRD Circulars
    Dawn Newspapers for updated information5. Instruction Circulars of
       National Bank Limited
    Economic Reviews for Banks and their activities.
    State Bank of Pakistan, Website, http://www.sbp.gov.pk
    National Bank website, http://www.nbp.com I also visit & complete
    I also visit & complete 6 weeks internship in national bank of Pakistan
       Karianwala branch for collecting data.
    http://www.sbp.gov.pk8
    www.nbp.com.pk
    http://www.scribd.com/doc/13314549/Internship-Report-of-NBP
    http://www.scribd.com/doc/19161491/NBP-Internship-Report
    http://www.nbp.com.pk/aboutus/index.aspx
    http://www.docstoc.com/docs/1007562/national-bank-of-pakistan-a-
       hollow-dream/
    http://www.nbp.com.pk/aboutus/dreport2.aspx




CHAPTER # 01

INTRODUCTION OF INTERNSHIP REPORT




   Internship Report on NBP, Karianwala Branch Gujrat                    13
Introduction:
As part of the academic requirement for completing MBA (Finance) Master of
Business Administration, The students are required to undergo for six weeks
of internship with an organization. The internship is to serve the purpose of
acquainting the students with the practice of knowledge of the discipline of
banking administration.

This report is about National Bank of Pakistan. NBP was established in 1949
and since then, it has expended its network, becoming the largest commercial
Bank of the country. It offers different products of services to its customers.


1.1Background of study:
The internship requirement in the degree of Master in Business Administration
(Finance) led me to experience an exciting and professional exposure to NBP
as an intern.


1.2Purpose:
    The main purpose of the study in hand is together relevant information to
    compile internship report on National Bank of Pakistan.
    To observe, analyze and interpret the relevant data competently and in a
    useful manner.
             To work practically in an organization.

             To improve report writing skills.

             To develop interpersonal communication.




1.3Scope:
        As an internee in National Bank of Pakistan the main focus of my
        study research was on general banking procedures in one of the
        branches of NBP. These operations include remittances, deposits,



    Internship Report on NBP, Karianwala Branch Gujrat                            14
     advances and foreign exchange. Similarly different aspects of overall
     of NBP are also covered in this report.

1.4Objective:
     The primary purpose of this study is to fulfillment of the requirements
     for the degree of MBA (Finance).For this connection each student of
     this particular course is required to undertake training in a relevant
     organization selected by them, for a period of 5-7 weeks.
     The secondary purpose of this internship is to understand how the
     theoretical knowledge can be applied to the practical situations and
     examine    an   organization’s       financial   issues   and   identify its
     opportunities/ problems and also suggest corrective measures. This
     internship is also very necessary to gain confidence and become aware
     of the mechanism of an organization. As an internee I want to achieve
     following objectives during my internship and organization study:
          To familiarize with a business organization.
          To familiarize with the different departments in the
             organization and their functioning.
          To enable myself to understand how the key business process
             are carried out in organization.
          To understand how information is used in an organization for
             decision making at various levels.
          I want to develop my skills in the application of theory to
             practical work situations.
          To develop my attitude conducive to effective interpersonal
             relationships.
          To acquire good work habits and sense of responsibility.




1.5Methodology:
     The report is based on my two months internship program in National
     Bank of Pakistan. The methodology reported for collection of data is
     primary as well as secondary data. The biggest source of information is


  Internship Report on NBP, Karianwala Branch Gujrat                          15
     my personal observation while working with staff and having
     discussion with them. Formally arranged interviews and discussions
     also helped me in this regards.

     Primary data:

     Primary data include, Personal observation and Interviews of The Staff
     Members

     Secondary data:

     Secondary data consist of Manuals, Journals, magazines, Annual
     Reports and Internet.

1.6 Organization:
     The NBP was established vide NBP Ordinance No. XIX of November
     9. 1949. British Govt. devalued its currency in September 1949, India
     devalued its rupees but Pakistan did not. It led to a crisis in trading
     between the two countries and India refused to lift the Pakistan Jute.
     To solve this problem i.e. to export jute NBP was established through
     an Ordinance of GOP. National Bank of Pakistan maintains its position
     as Pakistan's premier bank determined to set higher standards of
     achievements. It is the major business partner for the Government of
     Pakistan with special emphasis on fostering Pakistan's economic
     growth    through    aggressive   and    balanced    lending    policies,
     technologically oriented products and services offered through its large
     network of branches locally, internationally and representative offices.

     National Bank of Pakistan is a Govt. bank. It has its head office in
     Karachi. It has over 1,232 branches in Pakistan & 18 abroad. National
     Bank of Pakistan maintains its position as Pakistan's premier bank
     determined to set higher standards of achievements. It is the major
     business partner for the Government of Pakistan with special emphasis
     on fostering Pakistan's economic growth through aggressive and
     balanced lending policies, technologically oriented products and
     services offered through its large network of branches locally,


  Internship Report on NBP, Karianwala Branch Gujrat                       16
      internationally and representative offices. We aim to be an
      organization that is founded on… •Growth through creation of
      sustainable relationships with our customers. •Prudence to guide our
      business conduct. •A national presence with a history of contribution to
      our communities.

      •Reward entrepreneurial efforts. •Create value for all stakeholders.
      We aim to be peopling who…•Care about relationships. •Lead through
      the strength of our commitment and willingness to excel. •Practice
      integrity, honesty and hard work. We believe that these are measures
      of true success. We have confidence that tomorrow we will
      be…•Leaders in our industry. •An organization maintaining the trust of
      stakeholders.


1.7   Summary:
      In this chapter, I concluded that internship is a best way of analyzing
      and understanding the market before the entrance in market, during
      internship we see practically implementations of our knowledge so we
      can say that internship program is a good fortune for all of the students
      during their studies. Because it’s a initial plate form during our study
      to analyze the market situations. Although there were some restrictions
      during but I tried my best to full fill the purpose and objective of the
      study.




CHAPTER # 02

NBP AND ITS ROLES & FUNCTIONS



  Internship Report on NBP, Karianwala Branch Gujrat                        17
 Introduction:
 In this chapter we will discuss about organization and also about its
 performance, its roles in development of Pakistan mean how much part of
 organization in development that is it participative or not? We will also
 discuss function of organization in Pakistan.


 2.1 overall   respective sectors in Pakistan
 National Bank of Pakistan is the largest commercial bank operating in
 Pakistan. Its balance sheet size surpasses that of any of the other banks
 functioning locally. It has redefined its role and has moved from a public
 sector organization into a modern commercial bank. The Bank's services are
 available to individuals, corporate entities and government. While it
 continues to act as trustee of public funds and as the agent to the State Bank
 of Pakistan (in places where SBP does not have a presence) it has diversified
 its business portfolio and is today a major lead player in the debt equity
 market, corporate investment banking, retail and consumer banking,
 agricultural financing, treasury services and is showing growing interest in
 promoting and developing the country's small and medium enterprises and at
 the same time fulfilling its social responsibilities, as a corporate citizen.




 National Bank of Pakistan is today a progressive, efficient, and customer
 focused institution. It has developed a wide range of consumer products, to
 enhance business and cater to the different segments of society. Some
 schemes have been specifically designed for the low to middle income
 segments of the population.
 These include NBP Karobar, NBP Advance Salary, NBP Saiban, NBP Kisan
 Dost, NBP Cash and Gold.
It has implemented special credit schemes like small finance for agriculture,
business and industries, administrator to Qarz-e-Hasna loans to students, self
employment scheme for unemployed persons, public transport scheme. The
Bank has expanded its range of products and services to include Shariah



    Internship Report on NBP, Karianwala Branch Gujrat                           18
Compliant Islamic Banking products. For the promotion of literature, NBP
recently initiated the Annual Awards for Excellence in Literature. NBP will
confer annual awards to the best books in Urdu and in all prominent regional
languages published during the defined period. Patronage from NBP would
help creative work in the field of literature. The Bank is also the largest
sponsor of sports in Pakistan. It has provided generously to philanthropic
causes whenever the need arose.

It has taken various measures to facilitate overseas Pakistanis to send their
remittances in a convenient and efficient manner. In 2002 the Bank signed an
agreement with Western Union for expanding the base for documented
remittances. More recently it has started Electronic Home Remittances
Project. This project introduces technology based system to handle inward
remittances efficiently, by ensuring that the Bank's branches keep a track of
the remittance received from abroad till its final receipt.

A number of initiatives have been taken, in terms of institutional restructuring,
changes in the field structure, in policies and procedures, in internal control
systems with special emphasis on corporate governance, adoption of Capital
Adequacy Standards under Basel II framework, in the upgradation of the IT
infrastructure and developing the human resources.National Bank of Pakistan
has built an extensive branch network with 1250 branches in Pakistan and
operates in major business centre abroad. The Bank has representative offices
in Beijing, Tashkent and Toront.

It has agency arrangements with more than 3000 correspondent banks
worldwide. The Bank's financial performance has been remarkable. In 2006,
total assets are estimated at Rs635 billion, while deposits have grown to nearly
Rs502 billion. Pre-tax profit rose to Rs26 billion. Earnings per share have
jumped to Rs24.01 in 2006. The increase in profit was achieved through
strong growth in core banking income. Interest income increased by Rs10
billion through growth in the loan portfolio as well as increase in spreads.
Advances increased by Rs48 billion to Rs316 billion. The Bank maintains a
sound loan portfolio diversified in nature to counter the risk of credit



     Internship Report on NBP, Karianwala Branch Gujrat                        19
concentration. It ranges from providing credit to the un-banked market
segment under NBP Karobar, to small and medium enterprises, to agricultural
loans, to corporate customers.

National Bank has earned recognition and numerous awards internationally. It
has been the recipient of The Bank of the Year 2001, 2002, 2004 and 2005
Award by The Banker Magazine, the Best Foreign Exchange Bank ––
Pakistan for 2004, 2005, 2006 and 2007, Global Finance, Best Emerging
Market Bank from Pakistan for the year 2005, Global Finance, Kissan Time
Awards – 2005 for NBP's services in the agriculture field. It is listed amongst
the Region's largest banks and also amongst the largest banks in South Asia
2005, The Asian Banker. It has also been presented a Recognition Award ––
2004 for having a Gender Sensitive Management by WEBCOP AASHA
besides other awards.


 2.2 Role of the organization in Pakistan
 NBP is playing a vital role in development of Pakistan; NBP is making a
 pioneer role in development of agriculture sector, which is the main
 production sector in Pakistan. As we all knows that agriculture sector is major
 part of our exports e.g.
 cotton, sugar, rice, wheat etc. so its helps to earn major part of foreign
 exchange through our exports.
 The nature of responsibilities of the Bank is different and unique from other
 banks/financial institutions. The bank also handles treasury transactions for the
 Government of Pakistan as an agent to the State Bank of Pakistan for handling
 provincial/Federal Government receipts and payments on their behalf. The
 National Bank of Pakistan has also played an important role in financing the
 country’s growing trade, which has expanded through the years as
 diversification.




 Products of NBP:


    Internship Report on NBP, Karianwala Branch Gujrat                         20
Unprecedented Safety - Unprecedented Return

Premium Aamdani Home Page




Unprecedented Safety - Unprecedented Return

Premium Saver Home Page




President's Rozgar Scheme - Easy financing for self employment

Karobar Home Page




Affordable, Flexible & Convenient home financing for all
Saibaan Home Page




Take upto 20 Advance Salaries - Affordable Installations from


 Internship Report on NBP, Karianwala Branch Gujrat              21
1 - 60 months

Advance Salary Home Page




One Card does it all - ATM plus Debit Card in one

Cash Card Home Page




Invest with Confidence - Marginal Finance Facility

Investor Advantage Home Page




Meet your need for ready cash against your idle gold jewelry
with no minimum limits
Cash n Gold Home Page




NBP KISAN Taqat


 Internship Report on NBP, Karianwala Branch Gujrat        22
  Kisan Taqat Home Page




  NBP's affordable agricultural program offers you a wide range
  of financing
  Kisan Dost Home Page




  NBP's Internet Based Home Remittence Service

  Pak Remit Home Page




2.3 Overall organization & functions of organization in

Pakistan
Basically NBP is surviving as a major shareholder of financial sector in
Pakistan. NBP is in the top ten financial institutions in Asia. NBP is surviving
in less human force with modern IT equipment to meet all challenges of the
time and it is the biggest financial earning unit in Pakistan. Its profitability is
higher than other banks.
Basically NBP is the institution of lower middle class and middle class of the
country. People feel quite relax while dealing with it.


Functions of National Bank of Pakistan



   Internship Report on NBP, Karianwala Branch Gujrat                           23
The National Bank of Pakistan a commercial bank generally makes advances
for a period not exceeding one year, except in case of small and medium
industries for which advance may be made for a maximum period of five
years. The bank makes not only against the security of stocks and goods
hypothecated or pledged to the bank, but also against documents of goods and
properly, shares are various joint stock companies, Government securities,
Insurance policies deposits receipts, etc. The margin and rate of interest are
determined by several factors including the type of security the size of loan
and the honor of the party.
The Bank is authorized to carry on kinds of banking business and is
empowered to make loans. It has also undertaken special financing operations
connected with Government prices support scheme. The bank also gives
advances loans, especially for agricultural products, such as cotton etc. It also
safeguards the valuable articles of people. It also arranges training programs
for Bank officials. It participates in procurement of seasonal crops e.g. wheat,
rice, cotton, sugar cane, etc. It also provides credit facilities to small industrial
units agriculture sectors as per credit mandatory targets fixed by the State bank
of Pakistan.
Sometimes NBP is performing as State Bank of Pakistan in the Dist. Where
State Bank of Pakistan is not situated. It acts as treasury office & serve as
Govt. collateral & Govt. disbursements.
It deals as right hand in all kind of Govt. Financial activities; no any other can
perform these activities. Services are outputs of the firm/organization, which
are in intangible form & which are the backbones of any organization to earn
profit? NBP offers the following services to the people as a representative of
“STATE BANK OF PAKISTAN”.
     Collection of cheques and bill of exchange for its customers.
     Paying insurance premium, rent or other obligations of the customers.
     Collecting interests due, dividend, pensions and other sums due to
        customers.
     Transferring of money from place to place.
     Acting executors, trustees for the customers.
     Providing safe custody and jewelry, documents or securities.



    Internship Report on NBP, Karianwala Branch Gujrat                            24
 Issuing of travelers cheques and letter of credit to give credit facilities
   for travel.
 Purchasing shares for the customers.
 Accepting bills of exchange on behalf of customers.
 Undertaking foreign exchange business.
 Furnishing trade information and tendering advice to customers.
 Formulating operation policy guidelines for the banks.
 Laying down performance criteria for banks and taking steps for
   ensuring their observance.
 Evaluating the performance of the banks in the context of operational
   guidelines issued to the banks.
 Determining the areas of coordination of the banks.
 Formulating schemes under section of the act.
 Making recommendations to the federal government for the
   appointment of the president and members of the executive board.
 Analyzing and appraising financial statement including balance sheets
   and profit and loss accounts of banks and appointment of auditors of
   the bank.
 Conducting such surveys, inquiries and appraisals as may be necessary
   for the purpose of this act.
 Exercising and performing such powers and functions of the federal
   government under the act and such other functions as the federal
   government may assign to it.
 Establishing a research department or conduct banking research and in
   particular study overseas banking operation and problems of the
   agricultural financing.
 Establishing a central training institution for improving bank services.
 Coordinating the planning of the operations of nationalized
   commercial banks, and exercising general overall checks on the cost of
   their operations.
 Appointing lead banks and to apportion share of advance among the
   banks in respect of consortium loans financed by the nationalized
   commercial banks only, in accordance with resource availability of
   each bank.

Internship Report on NBP, Karianwala Branch Gujrat                        25
    Watching the progress of the implementation of the rulings made in
         State Bank Annual Inspection Reports and the remedial and corrective
         measures taken by the banks with a view of removing imbalances
2.4 Organization Office In Which You Are Working
  Branch Details


Branch Name                Village Karianwal

Branch Code                2025

Address                    Village Karianwala,Tehsil & District Gujrat

Phone                      053-3580787

Fax                        ---

Tehsil                     Gujrat

District                   Gujrat

Province                   PUNJAB

SWIFT Code                 ---

Status                     Offline

                           manager2025@nationalbank.com.pk                         ,
Email
                           opsmanager2025@nationalbank.com.pk


I have completed internship in NBP Karianwala branch coded (2025). It was
established 02 September, 2007. In this short period of time bank grow up to
required level. In July 2009 NBP (2025) get best performance award in the
area. While it’s a small branch in Karianwala, but they are providing quality
services to their customers, there are number of competitors in this area but it
is the bank of Govt. and also due to its management performance, it is a well
known branch in this local area. They are providing different services to their
customer to attract them and to gain their trust and to build long term
relationship with them.




   Internship Report on NBP, Karianwala Branch Gujrat                        26
To fully satisfy their customer, and for efficient working, they assign different
services to different departments.

    Cash Department
    Clearance Department

    Advance Department

    Remittance Department

    Western Union Department




2.5 Summary

Banking started in Pakistan after the courageous and developing decision of
formulation of State Bank of Pakistan on July 30, 1948. Thereafter this sector
has witnessed enormous growth. In 1974 banks were nationalized, in the hope
that new era of growth could be achieved through it. However the process is
reverse since 1991, up till now MCB, ABL, and UBL have been privatized
and HBL is in the process of its privatization and NBP is a just bank in
banking industry which is under regulation of Govt.

Banks acts as financial agents to their customer; in return they get reward for
their services. Banks play important role in development of society. A strong
economy must have a good banking system. In this chapter we seen NBP
importance and functioning through which I concluded that it is playing a vital
role in development of banking sector in Pakistan as well as in country.




   Internship Report on NBP, Karianwala Branch Gujrat                         27
CHAPTER # 03

INTRODUCTION OF NBP

Introduction:
In this Chapter I am going to clarify the analysis of the organization that
contains brief history of NBP, what is the management structure of NBP, how
many departments are there, and their working. Current staff members of the
branch, their qualification and experience, salary structure, and promotion
strategy. What are the responsibilities of their employees, incentives and
motivation methods. Working hours of the organization, physical facilities
(working environment) provided to the employees. How they communicated
with in the organization. A critical analysis of the branch, its performance in
terms of customer satisfaction, and at the end latest budget review of the
branch.


3.1.1 Brief history of the organization:
The NBP was established vide NBP Ordinance No. XIX of November 9.
1949. British Govt. devalued its currency in September 1949, India devalued
its rupees but Pakistan did not. It led to a crisis in trading between the two
countries and India refused to lift the Pakistan Jute. To solve this problem i.e.
to export jute NBP was established through an Ordinance of GOP. National
Bank of Pakistan maintains its position as Pakistan's premier bank determined
to set higher standards of achievements. It is the major business partner for the
Government of Pakistan with special emphasis on fostering Pakistan's
economic growth through aggressive and balanced lending policies,
technologically oriented products and services offered through its large
network of branches locally, internationally and representative offices.
National Bank of Pakistan is the largest commercial bank operating in
Pakistan. Its balance sheet size surpasses that of any of the other banks
functioning locally. It has redefined its role and has moved from a public
sector organization into a modern commercial bank. The Bank's services are
available to individuals, corporate entities and government. While it continues
to act as trustee of public funds and as the agent to the State Bank of Pakistan

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(in places where SBP does not have a presence) it has diversified its business
portfolio and is today a major lead player in the debt equity market, corporate
investment banking, retail and consumer banking, agricultural financing,
treasury services and is showing growing interest in promoting and developing
the country's small and medium enterprises and at the same time fulfilling its
social responsibilities, as a corporate citizen. National Bank of Pakistan has
built an extensive branch network with 1250 branches in Pakistan and operates
in major business centre abroad. The Bank has representative offices in
Beijing, Tashkent, Chicago and Toronto. It has agency arrangements with
more than 3000 correspondent banks worldwide. Its subsidiaries are Taurus
Securities Ltd, NBP Exchange Company Ltd, NBP Capital Ltd, NBP
Modaraba Management Company Ltd, and CJSC Bank, Almaty, Kazakhstan .
The Bank's joint ventures are, United National Bank (UK), First Investment
Bank and NAFA, an Asset Management Company (a joint venture with NIB
Bank & Fullerton Fund Management of Singapore).
The Bank's financial performance has been remarkable. In 2006, total assets
are estimated at Rs635 billion, while deposits have grown to nearly Rs502
billion. Pre-tax profit rose to Rs26 billion. Earnings per share have jumped to
Rs24.01 in 2006. The increase in profit was achieved through strong growth in
core banking income. Interest income increased by Rs10 billion through
growth in the loan portfolio as well as increase in spreads.
Advances increased by Rs48 billion to Rs316 billion. The Bank maintains a
sound loan portfolio diversified in nature to counter the risk of credit
concentration. It ranges from providing credit to the un-banked market
segment under NBP Karobar, to small and medium enterprises, to agricultural
loans, to large corporate customers.
The Bank has also played an important role in financing the country’s growing
trade, which has expended through the years as diversification took place.
Today the Bank finances import/export business to the tune of Rs.62.17billion,
whereas in 1960 financing under this head was only Rs.1.54billion.
The field is being de-layered to improve customer services and enable faster
decision making. As a result of this de-layering zones have been eliminated
and the numbers of regions have been increased. Organizational hierarchy at
the regional level has been restructured and operational and business activities

   Internship Report on NBP, Karianwala Branch Gujrat                        29
have been completely separated. This separation will improve communication,
decision making and promote teamwork.
For the third consecutive year, the Bank is recognized as the best Bank in
Pakistan for the year 2004 by the prestigious periodical. “The Banker” UK (a
subsidiary of Financial Times Group).

VISION


To be the pre-eminent financial institution in Pakistan and Achieve market
recognition both in the quality and delivery of service as well as the range of
product offering.

MISSION STATEMENT
NBP will aspire to the values that make NBP truly the Nation’s Bank, by:
• Institutionalizing a merit and performance culture
• Creating a distinctive brand identity by providing the highest standards of
services
• Adopting the best international management practices
• Maximizing stakeholders value
• Discharging our responsibility as a good corporate citizen of Pakistan and in
countries where we operate.


VALUES


NBP aim to be an organization that is founded on…
    Growth through creation of sustainable relationships with our
       customers.
    Prudence to guide our business conduct.
    A national presence with a history of contribution to our communities.
    NBP shall work to…
    Meet expectations through Market-based solutions and products.
    Reward entrepreneurial efforts.
    Create value for all stakeholders.




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     NBP aim to be peopling who…
   Care about relationships.
   Lead through the strength of our commitment and willingness to excel.
   Practice integrity, honesty and hard work. We believe that these are
     measures of true success.
     NBP have confidence that tomorrow we will be…
   Leaders in our industry.
   An organization maintaining the trust of stakeholders.
   An innovative, creative and dynamic institution responding to the
     changing needs of the internal and external environment


     OBJECTIVES
     Strong emphasis has been laid upon training of branch officers to
     better equip them for marketing of retail banking products. Initiatives
     on similar lines are being launched for the SME sector. In future NBP
     is going to introduce modern banking services to keep pace with the
     competition and more important our customer needs. These are as
     follows:
                 Debit cards
                 Internet banking
                 Call centers
                 Mobile banking
     MILESTONES
   “Best Emerging Market Bank from Pakistan” for the year 2005
     ‘Global Finance’ USA, May 2005
   NBP is one of the “Top 100 Banks of Asia” ‘Euro money’ UK, March
     2005
   Bank of the year 2001, 2003&2004 for Pakistan ‘The Banker’ financial
     times Group UK.
   Best Foreign Exchange Bank in Pakistan ‘global Finance’ USA, March
     2004


BOARD OF DIRECTORS


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NBP, Board of Directors list consist the following members and their
designation.

NAME                                   DISIGNATION

Ali Raza                               Chairman & President

Mian Kausar Hameed                     Director

Mr. Ibrar A. Mumtaz                    Director

Mr. Tariq Kirmani                      Director

Mrs. Haniya Shahid Naseem              Director

Ms. Nazrat Bashir                      Director

Mr. Ekhlaq Ahmed                       Director

During my stay in National Bank of Pakistan, I found it as among one of the
best banks in Pakistan. As an internee, I enjoy working there .NBP has a very
cooperative staff .I worked there in very congenial and supportive
environment. The staff over there is always being ready to guide about bank
and its systems.
According to its financial statements it is on a way to progress. It announces
12 billion profits for the year of 2004. Due to its miraculous working
government bestowed its president Syed Ali Raza with “sitara-e-imtiaz”in
august2005.


Moreover according to Euro money magazine the leading journal of UK in the
month of March 05 declared:
“NBP is the only Pakistani bank which has been Ranked among the
top100 banks of Asia”




           ORGANIZATIONAL CHART OF NBP


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          DESIGNATIONS FO HIGHER LEVEL OFFICE:

                                PRESIDENT



                     SENIOR EXECUTIVE VICE PRESIDENT

                                 GRADE 22



                     EXECUTIVE VICE PRESIDENT

                                GRADE 21



                             VICE PRESIDENT

                                 GRADE 20



                     ASSISTANT VICE PRESIDENT

                                GRADE 19



                             GRADE I OFFICER

                                GRADE 18



                             GRADE II OFFICER

                                GRADE 17



                             GRADE III OFFICER

                                GRADE 16




3.1.2 Relationship of head office to the branch offices:

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Relationship of head office with branch is linked through regional head
quarter. If branch face any difficulty or require any thing which it needed they
communicate to regional head quarter and then regional head quarter
communicates with head office.


3.1.3 DEPARTMENTATION OF NBP
The Departments functioning at NBP as briefed by its concerned officers during
the internship are:

     Cash Department
     Clearance Department.
     Remittance Department.
     Advances Department.


CASH DEPARTMENT

Cash department performs the following functions

Receipt

The money, which either comes or goes out from the bank, its record should
be kept. Cash department performs this function. The deposits of all customers
of the bank are controlled by means of ledger accounts. Every customer has its
own ledger account and has separate ledger cards.

Payments

It is a banker’s primary contract to repay money received for this customer’s
account usually by honoring his cheques.

Cheques and their Payment

The Negotiable Instruments. Act, 1881

“Cheque is a bill of exchange drawn on a specified banker and not expressed
to be payable otherwise than on demand”.




    Internship Report on NBP, Karianwala Branch Gujrat                       34
Since a Cheque has been declared to be a bill of exchange, it must have all its
characteristics as mentioned in Section 5 of the Negotiable Instruments Act,
1881. Therefore, one can say that a Cheque can be defined as an:

“An unconditional order in writing drawn on a specified banker, signed by the
drawer, requiring the banker to pay on demand a sum certain in money to, or
to the order of, a specified person or to the bearer, and which does not order
any act to be done in addition to the payment of money”.

CLEARANCE DEPARTMENT

A clearinghouse is an association of commercial banks set up in given locality
for the purpose of interchange and settlement of credit claims. The function of
clearinghouse is performed by the central bank of a country by tradition or by
law. In Pakistan, the clearing system is operated by the SBP. If SBP has no
office at a place, then NBP, as a representative of SBP act as a clearinghouse.

After the World War II, a rapid growth in banking institutions has taken place.
The use of cheques in making payments has also widely increased. The
collection as settlement of mutual obligations in the form of cheques is now a
big task for all the commercial bank. When Cheque is drawn on one bank and
the holder (payee) deposits the same in his account at the bank of the drawer,
the mutual obligation are settled by the internal bank administration and there
arises no interbank debits from the use of cheques. The total assets and total
liabilities of the bank remain unchanged.

In practice, the person receiving a Cheque as rarely a depositor of the cheque
at the same bank as the drawer. He deposits the cheque with his bank other
than of payer for the collection of the amount. Now the bank in which the
cheque has been deposited becomes a creditor of the drawer’s bank. The
depositor bank will pay his amount of the cheque by transferring it from cash
reserves if there are no offsetting transactions. The banks on which the
cheques are drawn become in debt to the bank in which the cheques are
deposited. At the same time, the creditors’ banks receive large amounts of
cheques drawn on other banks giving claims of payment by them.



   Internship Report on NBP, Karianwala Branch Gujrat                         35
The easy, safe and most efficient way is to offset the reciprocal claims against
the other and receive only the net amount owned by them. This facility of net
interbank payment is provided by the clearinghouse.

The representatives of the local commercial banks meet at a fixed time on all
the business days of the week. The meeting is held in the office of the bank
that officially performs the duties of clearinghouse. The representatives of the
commercial banks deliver the cheques payable at other local banks and receive
the cheques drawn on their bank. The cheques are then sorted according to the
bank on which they are drawn. A summary sheet is prepared which shows the
names of the banks, the total number of cheques delivered and received by
them. Totals are also made of all the cheques presented by or to each bank.
The difference between the total represents the amount to be paid by a
particular bank and the amount to be received by it. Each bank then receives
the net amount due to it or pays the net amount owed by it.

In-Word Clearing Books

The bank uses this book for the purpose of recording all the cheques that are
being received by the bank in the first clearing. All details of the cheques are
recorded in this book.

Out-Word Clearing Book:

The bank uses outward clearing register for the purpose of recording all the
details of the cheques that the bank has delivered to other banks.

ADVANCES DEPARTMENT

Advances department is one of the most sensitive and important departments
of the bank. The major portion of the profit is earned through this department.
The job of this department is to make proposals about the loans. The Credit
Management Division of Head Office directly controls all the advances. As we
known bank is a profit seeking institution. It attracts surplus balances from the
customers at low rate of interest and makes advances at a higher rate of
interest to the individuals and business firms. Credit extensions are the most



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important activity of all financial institutions, because it is the main source of
earning. However, at the same time, it is a very risky task and the risk cannot
be completely eliminated but could be minimized largely with certain
techniques. Any individual or company, who wants loan from NBP, first of all
has to undergo the filling of a prescribed form, which provides the following
information to the banker.

Name and address of the borrower.

a)        Existing financial position of a borrower at a particular branch.

b)        Accounts details of other banks (if any).

c)        Security against loan.

d)        Exiting financial position of the company. And Signing a promissory
          note is also a requirement of lending, through this note borrower
          promise that he will be responsible to pay the certain amount of money
          with interest.

Principles of Advances

There are five principles, which must be duly observed while advancing
money to the borrowers.

     a.       Safety

     b.       Liquidity

     c.       Dispersal

     d.       Remuneration

     e.       Suitability




     Internship Report on NBP, Karianwala Branch Gujrat                        37
Forms of Loans

In addition to purchase and discounting of bills, bankers in Pakistan generally
lend in the form of cash finance, overdrafts and loans. NBP provides advances
to different people in different ways as the case demand.

a) Cash Finance

This is a very common form of borrowing by commercial and industrial
concerns and is made available either against pledge or hypothecation of
goods, produce or merchandise. In cash finance a borrower is allowed to
borrow money from the banker up to a certain limit, either at once or as and
when required. The borrower prefers this form of lending due to the facility of
paying markup/services charges only on the amount he actually utilizes.If the
borrower does not utilize the full limit, the banker has to lose return on the un-
utilized amount. In order to offset this loss, the banker may provide for a
suitable clause in the cash finance agreement, according to which the borrower
has to pay markup/service charges on at least on self or one quarter of the
amount of cash finance limit allowed to him even when he does not utilize that
amount.

b) Overdraft/Running Finance

This is the most common form of bank lending. When a borrower requires
temporary accommodation his banker allows withdrawals on his account in
excess of the balance, which the borrowing customer has in credit, and an
overdraft thus occurs. This accommodation is generally allowed against
collateral securities. When it is against collateral securities it is called
“Secured Overdraft” and when the borrowing customer cannot offer any
collateral security except his personal security, the accommodation is called a
“Clean Overdraft”. The borrowing customer is in an advantageous position in
an overdraft, because he has to pay service charges only on the balance
outstanding against him. The main difference between a cash finance and
overdraft lies in the fact that cash finance is a bank finance used for long term


   Internship Report on NBP, Karianwala Branch Gujrat                          38
by commercial and industrial concern on regular basis, while an overdraft is a
temporary accommodation occasionally resorted to.

c) Demand Financing/Loans

When a customer borrows from a banker a fixed amount repayable either in
periodic installments or in lump sum at a fixed future time, it is called a
“loan”. When bankers allow loans to their customers against collateral
securities they are called “secured loans” and when no collateral security is
taken they are called “clean loans”.

The amount of loan is placed at the borrower’s disposal in lump sum for the
period agreed upon, and the borrowing customer has to pay interest on the
entire amount. Thus the borrower gets a fixed amount of money for his use,
while the banker feels satisfied in lending money in fixed amounts for definite
short periods against a satisfactory security.

REMITTANCE DEPARTMENT

Remittance means a sum of money sent in payment for something. This
department deals with either the transfer of money from one bank to other
bank or from one branch to another branch for their customers. NBP offers the
following forms of remittances.

a)      Demand Draft

b)      Pay Order

c)      Mail Transfer

Demand Draft

Demand draft is a popular mode of transfer. The customer fills the application
form. Application form includes the beneficiary name, account number and a
sender’s name. The customer deposits the amount of DD in the branch. After
the payment the DD is prepared and given to the customer. NBP officials note
the transaction in issuance register on the page of that branch of NBP on
which DD is drawn and will prepare the advice to send to that branch. The

     Internship Report on NBP, Karianwala Branch Gujrat                     39
account of the customer is credited when the DD advice from originating
branch comes to the responding branch and the account is debited when DD
comes for clearance. DD are of two types.

a)       Open DD:       Where direct payment is made.

b)       Cross DD:      Where payment is made though account.

NBP CHARGES FOR DD

I.       Up to Rs. 50,000/- is Rs 50/- only

II.      Over Rs. 50,000/- is 0.1%

Pay Order




www.qundeel.com

Pay order is made for local transfer of money. Pay order is the most
convenient, simple and secure way of transfer of money. NBP takes fixed
commission of Rs. 25 per pay order from the account holder and Rs. 100 from
a non-account holder.

Mail Transfer

When the money is not required immediately, the remittances can also be
made by mail transfer (MT). Here the selling office of the bank sends
instructions in writing by mail to the paying bank for the payment of a
specified amount of money. Debiting to the buyer’s account at the selling
office and crediting to the recipient’s account at the paying bank make the
payment under this transfer. NBP taxes mail charges from the applicant where
no excise duty is charged. Postage charges on mail transfer are actual
minimum Rs. 40/- if sent by registered post locally Rs.40/- if sent by
registered post inland on party’s request.

GENERAL BANKING
General banking section consists of following sub sections:

      Internship Report on NBP, Karianwala Branch Gujrat                 40
        Inquiry section
        Inland Remittances
        Deposits
        Cash Department
        Utility Bills

INQUIRY SECTION
       Account opening
       Issuing Cheque Book
       Term Deposits
       Travelers Cheque (TC)


3.1.4 Offices or field offices:
NBP karianwala (2025) is a small branch working under regional office. There
is no any branch working under NBP. But NBP facilitating their customers
through offering different services like hajj application, advancing loans at
lower rate of returns etc.
Branch Network of National Bank of Pakistan
With the geographical development of its branches, the National Bank of
Pakistan has been able to extend its services to a much larger number of
Pakistanis all over the country. Today the Bank has more than 8.8 million
accounts & Bank maintains its presence in all the major financial centers of
the world through its 22 (2008) overseas branches and 5 representative offices.
Bank’s role Apart from having a vast branch network, Bank is at the forefront
in the acquisition and application of new technologies in every aspect of its
banking facilities. It has acquired leased telephone lines for on-line banking.
The Bank has 12 Regional
Computer Centers to cover various on-line and batch system requirements of
branches and controlling offices.
Presently the National Bank of Pakistan is divided into various Groups headed
by SEVPs/EVPs. Its field operations are controlled by 29 regions ( Annexed
II) reporting to as many Regional chiefs, who control 40 zones and 15 single
Branch zones headed by Zonal Chiefs; 12 corporate branches and 1249




   Internship Report on NBP, Karianwala Branch Gujrat                       41
domestic branches headed by Branch Managers. The bank has 12 SWIFT local
centers.
Apart from having a vast branch network, Bank is at the forefront in the
acquisition and application of new technologies in every aspect of its banking
facilities. It has acquired leased telephone lines for on-line banking. Bank has
also a presence on the internet. The National Bank of Pakistan has 156 online
branches
throughout the country. It has modernized its services by installing Automated
Teller Machines (ATMs) called “CASH LINK” at selected branches.
The Head Office formulates and implements the strategic, management and
operational policies.
The Branch network of National Bank of Pakistan is divided into following
categories:
    ATM network ( Total ATMs 101 & Total ATMs machines 104)
    Domestic network ( 1249 Branches)
    Islamic network ( 5 Branches)
    Online network ( 156 Branches)
    Overseas network ( 29 Branches)
    Swift network ( 12 Branches)
    Customer Facilitation Centers (6 Customer Facilitation Centers)
    Agriculture branches ( 825 Branches)

TYPES OF BRANCHES
There are a lot of different branches of National Bank of Pakistan. We explain
them one by one.
    There are main branches in every city. In one city there is only one
       main branch, it is directly under the zonal office.
    Then there are commercial branches. These are the ordinary branches
       and are in the commercial areas such as the Mall Road Branch.
    The Industrial Branches are exclusively in industrial zones.
    There are also Residential Branches. These are exclusively in
       residential colonies.
    Another type is the Mixed Branch such as civil secretariat branch.
       Every kind of work is done.


   Internship Report on NBP, Karianwala Branch Gujrat                        42
       There are also Project Branches created for specific purposes i-e the
         project and are at the site.


       Another unique type is the Model Branch. No other bank in Pakistan
         has these. In these branches all the work is done by the officers. Even
         the officers sit on the counters. Model Branches are in Karachi, Lahore
         and Islamabad.


3.2      Current staff:
The branch staff is consisting of 6 members. Which include manager, cashier,
and four security guards. Staff of bank is too much cooperative with each
other as well as with customers. They try their best to provide best services to
their customers according to customer’s requirements.


3.2.1 Current staff of branch according to qualification and
experience
Current staff of the branch is not well educated but they have no. of year’s
experience which help them to achieve their targets effectively and efficiently.
Manager qualification is B.Sc in Math, Stats, and Economics with experience
of 14 years.
Cashier qualification is B.A with 19 years experience.
And in guards one’s qualification is metric and remaining is under metric.


3.2.2 Training Received By No. Employees
National bank of Pakistan has its national and development centers and 4 staff
collages at: -
1. Karachi
2. Lahore
3. Peshawar
4. Islamabad
In these centers and staff colleges, the banking training is provided to the
officers, managers, and to potential managers. It arranges courses and



      Internship Report on NBP, Karianwala Branch Gujrat                      43
seminars for middle and higher management in all. Each year almost 1500
persons receive training over there.
Each employee of NBP before starting its work practically in bank and after
selection as employee in bank get training and then come on job properly.


3.2.3 Workload
Workloads means how many hours they work in bank or facilitate the
customers on daily basis .Here as we are concerned with National bank of
Pakistan, they facilitate their customers 9am to 1.30pm and done their work
7hours according to official requirement which includes done post pone work,
closings and adjusting balances etc.


3.2.4 Salary structure
Salary structure includes performance bonuses, incentives and basic salary.
The salary structure of NBP is based on seniority plus performance base.
Employees get their fixed salary plus additional bonuses and incentives
according to their performance.



3.2.5 Promotion system
NBP promotion system based on performance and experience of employees.
Manager promoted by his/her performance and through increase in sales.
While lower management promotion system differ than higher management.
Promotion system of NBP varies with the designations or level of employees
jobs. As in Karianwala (2025) if the manager perform well on continuous
basis that is terms of sales and deposits then he will be promoted. But when
we talk about the promotion of lower level staff then they promoted on their
deposits plus operational performance, that how well they manage their daily
operational activities.


3.2.6 Incentives & motivation
If the employees take deposit for the bank, they will be given incentives in the
percentage of amount taken as deposit. For instance, if Saving Officers or any
other employees bring deposit, they are given incentives of some % of the

    Internship Report on NBP, Karianwala Branch Gujrat                       44
total amount which is given to them with monthly income; these are the
motivational factors for the employees as well as incentive. If loan officers
perform well their
duties means that screening of clients in well and efficient manner, they are
appreciated by the Branch Manager and by completion of screening, every
incentive is added in their monthly salary, so these are also the motivational
factors for the employees working in NBP.


3.2.7 Responsibilities
Manager operational is responsible for all affairs of branch. He is answerable
for all assign tasks and he is totally answerable as internal controller of the
branch. He is responsible to take duty from all employees any lapses, causes is
negligence.


3.3      Critical analysis of the branch
NBP Karianwala branch It is true that bank is trying to adopting computerized
system but their most of staff is unable to use computerized system or not
familiar with computer. There are no proper facilities in bank for customer. No
proper facilities for old age people, they face so many problems in bank. There
is no any shop for bank staff so that they can bring something for themselves
or their guests in break time. Their all system is manual so much time waste in
different process. There is also an electricity problem in this bank. There is
reduction of staff in some departments, so they complete almost their work
from internees. There is reduction of law & order, so sometimes branch faces
so many problems especially in the dates of pensions. All types of pensioners
are treated same day that’s why this creates problems.


3.3.1 Communication
Communication system between branch employees is very good and admiring.
They easily communicate their problems with each other The employees of
NBP (2025) are all linked with each other from top to lower management. So
when any problem arises in branch they just discuss with each and solve it in
few minutes. We can say that there is open and simple communication system


      Internship Report on NBP, Karianwala Branch Gujrat                    45
within branch. But there is one flaw that there is high communication gap
between head office and branches because it take a lot time to reach in head
office and in taken approval.


3.3.2 Hiring system
The hiring system of employees is conduct by two ways; firstly, the employee
is interviewed by the branch manager and then his/ her CV is transferred to the
head office and he is again interviewed and give test to the Human Resource
Manager of head office or regional office and after fulfilling the whole
requirements of policies given by the Head Office, he or she is selected as an
employee for the branch where he or she is needed.


3.3.3 Morale of staff
There is a good morale in staff of the whole branch, the staff covenant with
one another in a good way and there is no concept of jealousy and leg pulling
among staff. They behave with each other and also with me in a good way
during the period of my internship and there is just like a family atmosphere.


3.3.4 Physical facilities
The NBP branch of Karianwala is not well established, no air conditioning
facility is available in the whole branch but there are separate rooms for
officers. Cash officers do not have Computer system on their tables, there is
also shortage of office equipment on their tables, he has just calculator as
helping material for huge amount of calculations.


3.4 Performances:
There are two types of performance measurement one of them is customer
satisfaction and other is in terms of sales (number of account averagely open
in a month).
In term of quality
First I am going to focusing on customer satisfaction, in NBP (2025) all
employees were very experienced people so, they always deal the customer
politely and in very impressive way. That’s why they can easily attracting and

   Internship Report on NBP, Karianwala Branch Gujrat                        46
retaining the customer in this competitive environment. Only due to customer
satisfaction and trust on bank products NBP (2025) achieve very best
performance with respect to its operational time or activation time.
In term of quality
Secondly sales or no. of Accounts is based on the how much a banker can
satisfy and attract the customer. In NBP in which I done my internship its age
is 2 years but its customer volume spreads to 1300, which is remarkable
according to budget point of view. Bank not just achieved its budgeted target
fixed by higher management but also extend them up to 65% of fixed earning
targets.


3.5 Latest budget review
Deposit target has been increase up to 63% of the base (last financial year
date) & advances target has been fixed 45% of the base.
Earning target has been increase fixed up to 35% of the base.


3.6 Summary
During my stay in National Bank of Pakistan, I found it as among one of the
best banks in Pakistan. As an internee, I enjoy working there. NBP has a very
cooperative staff .I worked there in very congenial and supportive
environment.
According to Euro money magazine the leading journal of UK in the month of
March 05 declared:
“NBP is the only Pakistani bank which has been
Ranked among the top100 banks of Asia”
It offers very good package of salary and benefits to its employees.
Management is trying to regulate a system for promotions. It has both contract
as well as regular employees as it beliefs on the use of strangeness for the
cross fertilization of ideas. It has unlimited offers for its employees in the
areas of economic well being &development. National bank of Pakistan gives
many benefits and allowances to their employees (executives, officers, clerical
& non clerical staff).




    Internship Report on NBP, Karianwala Branch Gujrat                      47
CHAPTER # 04

NBP POLICIES & STRATEGIES



Introduction
This chapter include the polices and strategies of NBP, that how they work
and what are the basic rules for the accounting record assigned by SBP. The
last part of the chapter consisted on success of NBP through its policies and
strategies.


4.1 Policies
Policy is a projected programme consisting of desired objectives and the
means to achieve them. Following are some policies implemented by NBP.

     Provide job satisfaction to their employees.

     Allow the employees to participate in the decisions that affect them.

     Good performance reward is also in the form of hajj and umrah
        package.

     Use goals and feedback.

     Developing a benefit package.

     HR policies are in the form of circulars and instruction forms.

     Organizing 6 weeks internship for the students.

     NBP has no gender bias.


4.2 Strategies
Five year plan approved by BOD is hollow and does not address any serious
thinking on:
1. Development required for serving major sectors of the economy
2. Productivity improvement and benchmarking with the competition


    Internship Report on NBP, Karianwala Branch Gujrat                        48
3. Bringing the institution on international banking landscape in the coming
five years, not to speak of the seven years which the current management has
already served.
4. Inducting and leveraging specialized human capital
5. Infrastructure to support planned growth and vision
Even this plan is not cascaded down the line to align the annual performance,
targets and resultantly actions and tasks with the grand plan. Now in its second
year, this plan.


4.3 Successes
After effectively implementing the policies and strategies NBP had achieve its
goals efficiently and effectively in previous year performance. In below there
are number of successes which has been achieve by NBP.




"Best Foreign Exchange Bank 2008” awarded by world's leading financial
journal “Global Finance."

Stable AAA/A-1+(Triple A/A-One Plus) rating (Standalone Basis) by
JCR-VIS (July 2007)

Best Return on Capital for 2006 amongst all Banks in Asia . -“ Banker
Magazine” in July 2007

World's leading financial journal, “Global Finance” has named NBP as the
Best Emerging Market Bank from Pakistan for the year 2006 .




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"Best Foreign Exchange Bank – Pakistan” award for the year 2006 by
world's leading financial journal “Global Finance ”.

Due to consistent improvement in NBP's Core Profitability , Asset Quality
and Economic Capitalization in recent years ,Moody's Investors Service
upgraded the Financial Strength Rating (FSR) rom E+ to D-, in November
2005 .

“ Best Foreign Exchange Bank – Pakistan” award for the year 2005 by
world's leading financial journal “Global Finance ”.

“ Best Bank - Pakistan” award for the year 2005 by world's leading financial
journal “Global Finance ”.

The Asian Banker, a reputable financial journal, has published the report of
its research project on the ranking of 300 of Asia 's Strongest Banks based on
a 11-Dimensional Dynamic Scoring Criteria has adjudged National Bank of
Pakistan as the Strongest Bank in Pakistan .

On the basis of overall financial performance during 2004, NBP has been
listed “Amongst top 1000 banks in the world” and “ Number 1 Bank in
Pakistan” by the prestigious “Banker Magazine” in its issue of July 2005 .

The “Banker Magazine” in July 2005 recognized NBP as the 10th Best
Bank in terms of ‘Profit on Capital' in the world .

“ Bank of the Year” awarded for the year 2005 by the world renowned “The
Banker” magazine owned by the Financial Times Group, London.

On an all Pakistan basis National Bank of Pakistan was awarded the
“Kissan Times Award” for the year 2005 by the Prime Minister , Mr.
Shaukat Aziz, for its services in the Agriculture Sector .World's leading
financial journal, “Global”

“ Bank of the Year” award for the year 2004 by the world renowned “ The
Banker” magazine owned by the Financial Times Group , London .



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“ Euromoney” Magazine, a leading and prestigious journal, published from
London , UK , in its issue of March 2005 has published Moody's Investors
Service rankings in which NBP is the only Pakistani bank which has been
ranked among the Top 100 banks of Asia for it performance in the fiscal year
2003

WEBCOP-AASHA, an alliance against gender discrimination at workplace,
presented a Recognition Award to National Bank of Pakistan on December
18, 2004 for having a Gender Sensitive Management .

In May 2004, NBP's standalone long-term rating was upgraded by JCR-VIS
Credit Rating Agency to AA (double A) from AA -( double A minus) with
“stable outlook”, while standalone short-term rating was maintained at A-
1+(A one plus). This is now the best rating for a local commercial bank in
Pakistan The “Banker Magazine” in July 2003 recognized NBP as the bank
with the highest return on capital in Asia and No.8 in the world.

President's Awards:

1) Mr. S. Ali Raza, Chairman & President, NBP was awarded “The Asian
Banker Leadership Achievement Award 2007” by Asian Banker ( an
internationally reputed Financial Journal) in its issue of June 2007

2) Mr. S. Ali Raza Chairman & President, NBP, was conferred Sitara-i-
Imtiaz by the President of Pakistan , General Pervaiz Musharraf on August
14, 2005

3) “ Business Week” of “The McGraw Hill Companies” in its July 11,2005
edition has adjudged Mr. S. Ali Raza, Chairman President, NBP as one of the
twenty five Leaders of Asia at the & Forefront of Change and has identified
them as Stars of Asia including the President of Indonesia.




   Internship Report on NBP, Karianwala Branch Gujrat                    51
4.4 Summary
As NBP is enjoying the highest rating of ‘AAA’ in the industry assigned by
M/s JCR-VIS Credit Rating Company Limited on a standalone basis i.e.
without the benefit of the 75% government ownership.
In addition to the highest credit rating in the banking sector NBP has received
several awards from both local and foreign institutions of repute during 2008
including ‘Bank of the Year’ award given by the ‘The Banker’ magazine and
the ’Best Foreign Exchange Bank in Pakistan’ awarded by ‘Global Finance’.
NBP has a strong commitment towards the betterment of society and is fully
aware of its social obligations and responsibilities. NBP has always shown
great generosity in times when a natural calamity strikes like the 2008
devastating earthquake in Balochistan or when it comes to rural development,
children education and promotion of Sports. In 2008 NBP inaugurated its own
built Sports club at Clifton
NBP remains committed to the interest of all stake holders including its
employees, owners, regulators and Pakistani nation. NBP has well defined
strategy on where and how we want to proceed in the years to come. With the
implementation of the new ‘Core Banking Package’, NBP will completely
automate its functions which in turn will appreciably enhance work efficiency.




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CHAPTER # 05

DIFFERENT ANALYSIS OF ORGANIZATION

Introduction:
This chapter consisted on different analysis of NBP. In this chapter I will
analyze NBP through different perspectives, I will conduct different analysis
to realize the actual financial position of NBP.


5.1 SWOT ANALYSIS
SWOT Analysis is a strategic planning method used to evaluate the Strengths,
Weaknesses, Opportunities, and Threats involved in a project or in a business
venture. It involves specifying the objective of the business venture or project
and identifying the internal and external factors that are favorable and
unfavorable to achieving that objective.If SWOT analysis does not start with
defining a desired end state or objective, it runs the risk of being useless. A
SWOT analysis may be incorporated into the strategic planning model. An
example of a strategic planning technique that incorporates an objective-
driven SWOT analysis is SCAN analysis. Strategic Planning, including
SWOT and SCAN analysis, has been the subject of much research.

    Strengths: Attributes of the organization that is helpful to achieving
       the objective.
    Weaknesses: Attributes of the organization that is harmful to
       achieving the objective.
    Opportunities: External conditions that is helpful to achieving the
       objective.
    Threats: External conditions which could do damage to the business's
       performance.




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Strengths:

    Advance salary product:
    It exists in the list of top 10 banks in the ASIA.
    It has the highest profit among the largest banks of the ASIA.
    Its paid-up capital is very high
    Very less uncertainty because of a Govt. bank
    High confidence due to higher capital investment.
    LC (letter of credit) is acceptable all over the world.
    Chest branches can supply cash on the behalf of state bank.
    Chest loans can be used for limited time
    Stake holder is Govt. of Pakistan.
    It holds the Govt. treasury.
    The biggest customer of NBP is Govt. of Pakistan.
    Work as corresponding of ASKARI bank
    Provide High packages to employees.
    Provide high staff benefits.
    Recruitment occurs after every year.
    MTO’s selection is planned till 2010.

Weaknesses:

    The Major problem with NBP is its image as it is a Govt. bank so the
      vision of the customer is not positive about it.
    People think it will not provide them satisfactory services.
    In many branches management is not up to date.
    In small area’s branches employees have less education.
    Award and promotion policies are not implemented in all branches.
    There is no concept of job rotation
    Employees have low coordination level among each other.




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Opportunities:

    Advance salary for employees
    Employee benefits
    Pensions
    Award for employee performance
    Promotions
    Corporate planning learning.

Threats:

    Turn out of employee
    Job security and Strugglers
    At a time do no. of jobs due to competitor.
    NBP have to do those jobs which have no loss and no profit because of
      their competition
    Customer dissatisfaction
    Slow actions on complains
    Political environment.




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4.2 PEST ANALYSIS

It is very important that an organization considers its environment before
beginning the marketing process. In fact, environmental analysis should be
continuous and feed all aspects of planning. The organization's marketing
environment is made up of:

1. The internal environment e.g. staff (or internal customers), office
technology, wages and finance, etc.

2. The micro-environment e.g. our external customers, agents and distributors,
suppliers, our competitors, etc.

3. The macro-environment e.g. Political (and legal) forces, Economic forces,
Sociocultural forces, and Technological forces. These are known as PEST
factors.

Political:


    Privatization policy and deregulation.
    Impact of subsidized credit affecting and NCB’s.
    Employment practices, Unions, Associations.
    Political Interference and harassment.
    Incidents of high taxation on banking industry.


Economical:


    Constraints in mobilization of public savings because of inflation.
    Staff cost.
    Operating cost.
    Bad debts




   Internship Report on NBP, Karianwala Branch Gujrat                      56
Social & Cultural:


    Inadequate human resources.
    Cultural strain to savings.
    Defaulter’s lobby.
    Declining education and work ethics.
    Inadequate accountability.
    Adequate empowerment.


Technological:


    Inadequate communication infrastructure.
    Inadequate computer facilities.
    Inadequate IT training




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5.3 Ratios analysis:
Ratio Analysis enables the business owner/manager to spot trends in a
business and to compare its performance and condition with the average
performance of similar businesses in the same industry. To do this compare
your ratios with the average of businesses similar to yours and compare your
own ratios for several successive years, watching especially for any
unfavorable trends that may be starting. Ratio analysis may provide the all-
important early warning indications that allow you to solve your business
problems before your business is destroyed by them.
Ratio means “one number expressed in term of another a ratio is statistical
yardstick by mean of which relationship between two or various figures can be
compared or measured. Here we are going to explain the ratio analysis of
NBP (bank) which is little bit different from other organizations.


Profitability Ratios:
Profitability means “Measure of the ability of business to generate returns for
the business or for the owner” or “Overall effectiveness of the management is
known as profitability”
Here we will calculate Solvency ratios of NBP to evaluate its financial
position.
To calculate this ratios we needed these items Operating profit, net profit,
operating fixed assets, total assets, total investments with in business,
operating fixed assets.


Earnings Ratios         2007             2008                 2009


ROA                     2.72%            1.96%                2.07%
ROE                     19.20%           14.13%               16.41%
ROD                     3.48%            2.54%                2.70%




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Critical Analysis:
The earnings ratios of NBP were higher in 2007 but due to economic crisis
return decreases but now the economic activities are accelerating that’s why
the NBP returns also increases that Is the good symbol for the future of NBP


Debt Management.
Debt Management         2007             2008               2009


Debt to Equity          6.05             6.22               6.94
Debt to Assets          0.86             0.86               0.87
Deposits         times 5.52              5.56               6.09
Capital


Critical Analysis
These above ratios of NBP have no effect of recession and bank maintained as
well as improves the above ratios that show the efficiency of the NBP
activities.


Liquidity Ratios
Liquidity Ratios        2007             2008               2009


Earning Assets To 0.75                   0.74               0.75
Assets
Advance              to 0.60             0.62               0.66
Deposits
Critical Analysis
Earning assets of the NBP almost have no effect of the world recession but the
improvement in advances against the deposit reflects that the people of
Pakistan have less money to deposit and they are encourage to get loan from
the bank.




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Growth Rates
Growth Rates             2007               2008               2009


Profits After Tax        11.82%             -18.78%            17.81%
Return on Assets         -2.95%             -28.71%            5.64%
Net             Interest 11.53%             10.20%             3.78%
income(before
provision)


Critical Analysis
This table of ratios is telling about the future of banking sector in Pakistan. In
2007 all the world was under the recession and it also affects the economy of
Pakistan. Banks are the industry that was hardly hit by this recession and the
profits of all banks convert into negatives but in 2009 hope for bright future
arises because now the NBP come back on the track and generating the profit.


Market Value Ratio
Market          Value 2007                 2008                2009
Ratio


Average         Share 251.46               174.76              72.60
Price for the Year


Analysis
As the above data shows the average price of shares of NBP is very high in
2007 but later it trend to decline and in 2009 the price of share is less than
three times as compare to the 2007. It is due to the economic recession that
effect badly to the banking sector.




      Internship Report on NBP, Karianwala Branch Gujrat                       60
Solvency Ratios:
Solvency Ratios        2007              2008                2009


Equity to Assets       14.19%            13.85%              12.60%
Equity to Deposits     18.13%            17.98%              16.43%
Earning Assets to 0.96                   0.96                0.97
Deposits
Critical Analysis
Due to the recession the equity to assets and to deposits ratios of the NBP are
declining over the period but the earning assets to deposits ratio was
maintained by the bank and in 2009 it is rising.


Composition          of 2007              2008               2009
Earning Assets


Lending to Financial 4.23%                3.29%              2.80%
Institutions
Investments             33.34%            32.51%             29.58%
Advances                62.43%            64.20%             67.63%


Critical Analysis
This section of NBP ratios explains the portfolio of the NBP, explaining that
NBP portion of advances in the portfolio has increases and others have the
decreasing trend.




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5.4 Summary

The summary of is SWOT Analysis, PEST Analysis and ratios Analysis of
NBP. To know how NBP can compete well and how to maintain its position in
the market as a best services organization. In conclusion we can say that the
global economic environment has changed, creating challenges and
opportunities for the world’s policy makers. The privatization drive has
emerged as a strong tool of transformation, which is being recognized as an
essential ingredient for the economic wellbeing. Now there is a greater
awareness that in an interdependent world all countries gain individually,
these countries should be a positive contributor to world economic growth as
whole. Banks are playing very important role in the economic growth of the
countries. N.B.P no doubts a positive contributor in this respect but I think
there are certain points by adopting which can serve more effectively and
efficiently. Those points are discussed in next chapter.




   Internship Report on NBP, Karianwala Branch Gujrat                     62
CHAPTER # 6

RECOMMENDATIONS & SUGGETIONS

INTRODUCTION

NBP is an effectively operating and profit making organization and carrying
out its activities under a specified system of procedure. The main regulatory
body is State Bank of Pakistan, which provides policy guidelines and ensures
that the money market operates on sound professional basis. While the head
office specifies the whole procedure of function and operations. This
procedure has been modernized with the passage of time with a view to
streamline the approach and underlying procedure for effective overhauling of
its own capabilities so as to bring them at par with international practices.

Here I am giving some suggestions, which in my view can add some input for
efficiency and better performance of NBP as an organization in general and
City branch in particular.

The recommendations are as follows:

        Professional training

NBP staff lacks professionalism. They lack the necessary training to do the job
efficiently and properly. Although staff colleges in all major cities but they are
not performing well. For this purpose these staff colleges should be
reorganized and their syllabus should be made in such a way to help the
employee understand the ever-changing global economic scenario.

Banking council of Pakistan should also initiate some programs to equip the
staff with much needed professional training.

        Delegation of authority

Employees of the bank should be given a task and authority and they should
be asked for their responsibility.



   Internship Report on NBP, Karianwala Branch Gujrat                           63
    Performance Appraisal

The manager should strictly monitor the performance of every staff member.
All of them should be awarded according to their performance and result in
the shape of bonuses to motivated and incite them to work more efficiently.

    Transfer

Transfer is not properly carried out. Some of the employees are continually
serving at the same post. They are simply rotated at the same branch.
Therefore it is recommended that evenly rotation of every employee should
take place after every three years in different branches of the bank.

    Changes in Policies

There should not be any abrupt policies change by the upper management, as
this practice hurts the customer confidences in the bank. Government should
make long-term policies

    Need of Qualified Staff

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

    Utility Bill Charges

Bank gets Rs. 10 to processes a utility bill, and it is very tire, tough and hard
job. These charges should be increased to RS 15 per bill to enable the branch
to cover their handling costs and make some profit.

    Link with the Head Quarter

100 major branches of NBP should established a direct link with the, head
quarter In Karachi, through Internet or Intranet. This will make the functions
and decision making of the management easier and convenient.




   Internship Report on NBP, Karianwala Branch Gujrat                         64
    Credit Card

National bank of Pakistan should start its operation in credit card. These cards
are very helpful for the ordinary customer in general and the business people
in particular. To make it more secure and to eliminate the misuse of it, the
management is required to keep proper security against the card.

    Installing Validator and ATM

Validator machine is used to count the currency notes and its installation will
help to eliminate to counting errors and will save time.

This branch is situated in the City, which is supported to be the hub of
business activates. In this area an auto teller machine (ATM) is the need of the
hour businessmen can easily check their balance in the bank and also with
draw their money conveniently.

    Clean Loans

Clean loan or clean overdraft is the credit facility extended to the customers to
the customers without any security. These types of small term loans should not
be extended to anybody, because sometime these loans are provided to blue-
eyed people of the management and they become a part of bad debts.

    Cash Financing

In this mode of financing the amount of credit not utilized by the borrower is
remained tax-free. It is recommended that a small amount of interest should be
charge on this amount as well because the bank gas kept-aside the amount for
that borrower and cannot advance it anywhere..

    Needs to be Flexible in credit Policy

As mentioned earlier, NBP is very conservative in advances and loans policy.
It reduces the investment opportunities. Also loans should be given to the
small businessmen and the agriculture sector at the low markup rate. It should
adopt flexible credit policy while giving credit to the agriculture sector.



   Internship Report on NBP, Karianwala Branch Gujrat                         65
    Technological Advancement

I would like to suggest that at least all the main branches of NBP should be
fully computerized in order to expedite the dealing process among bankers and
their customers. Every department should be provided a computer with
adequate training (especially Advances, Deposits and Foreign Exchange
departments).Daily records should be entered directly into these computers,
(instead entering the overall daily transactions after the banking hours). It will
not only reduce transaction time, will increase accuracy but will also be
efficient as well. Not only it will be economical but will also reduce the extra
burden of work of the bank. It will also help in reducing the use of excessive
paper work.

    Improper Distribution of Work

Proper distribution work leads to success in every organization. Proper
distribution of work prevents the employee from over and under work
situation. So for a smooth running of an organization proper distribution of
work is the hint to be followed.

During my internship I observed that there was no proper distribution of work
in the bank. I saw that some of the employee worked like ants other sat idle
starting here and there. So this created a lot of over work situation for while
relaxation for other.

    Favoritism and nepotism

In the City branch during my internship I saw that when some of the
employees are transfer to other places, due to their relation with influential
people and with top management they can cancel their transfer in few weeks,
when they are unsatisfied at that place.

So I suggest that in the organization there should be no favoritism, nepotism
and politics and their transfer and promotion should be made on merit and
according to the rules and regulations of the bank and provided favorable
environment to the employee to show their performances.



   Internship Report on NBP, Karianwala Branch Gujrat                          66
    Inter Departmental Transfer

I watched during my internship that, there is number of employee who have
worked on one seat for many a year. It can have negative effects motivation of
employee who is hard working and intelligent. Take the example of advances
section. In advance section if the employee is transfer after sixth month or
seven month, how can he be able to show his performances and how can he be
able to know the bank customer in a short period of time.

    Marketing Policy

The branch should adopt various marketing strategy and promotion strategy to
promote the bank and its product. The most important in my opinion is
personal marketing; it is the most effective of all when you think in term of
branch level. But on the whole organization level, they should arrange the
seminar within the bank and outside the bank. They should introduce various
prizing schemes just like Allied Bank. Karamad Scheme, Bank Al-Falah
(monthly income earning scheme) and various others. They should do more
advertising through newspaper and media and through channel of personal
contacts.

    Complaints of Customer

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

Every person cannot go to the manager for the complaint because most of the
people are hesitant. So I suggest management to install a compliant box in the
branch, and recruit a special person for that guidance of the customer when
they are unable to manage some difficulties in banking matters.

              Analysis of the Business:

Proper analysis of the business reports should be conducted before extending
any type of loan. For this purpose professional training of the stuff member is
required.


   Internship Report on NBP, Karianwala Branch Gujrat                          67
     Organizational Commitment

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

     Managerial Leadership

In the analysis, we have discussed the difficulties of the assistant in taking any
initiative; therefore it is recommended that the assistants should he given
special training to make them ready for the leadership.

     Credit Monitoring

The credit department of the bank should carries out vigilant credit
monitoring. They should ensure the proper payment of installments and the
mark-up by the borrower. The staff members who have done all the paper
work of the loan extension should perform the monitoring, as he/she will be
having more information about the borrower.

     Extended Banking Hours

The banking hours may be extended up to six, as being practiced by HBL
opposite to it.

Some of the business community due to law and order situation are now
reluctant to keep the fund in their premises and would want to depart with it.
Therefore, City Branch may extend the night banking to cater to demand of
this business community. The branch could also be opened to cater the
requirements of this business community

     Limited staff:

Staff of NBP in village branches is limited, they face much difficulty to
perform their task efficiently. So I recommended that staff should increase in
those branches for better development of resources. On other hand I observed
that many branches of NBP are overcrowded. Less people can work which
extra people perform. Number of employees should decrease or new branches

    Internship Report on NBP, Karianwala Branch Gujrat                         68
should opens for the adjustment of these extra employees. So there should be
effective distribution of human resource achieve goals effectively and
efficiently.

       Housing and House Hold Goods loans

Bank should initiate these loans because most of bank’s customers are middle
class and they cannot afford to buy house or household goods at once by their
own.




6.3      Summary:

We discussed in this chapter about the recommendation and suggestion for
NBP as an organization in general and NBP, Karianwala Branch, Gujrat in
particular. Banks are playing very important role in the economic growth of
the countries. N.B.P no doubts a positive contributor in this respect but I think
if NBP impose some policies related to above recommendations and there are
certain points by which adopting NBP can serve more effectively and
efficiently.




      Internship Report on NBP, Karianwala Branch Gujrat                      69

				
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