ABN Amro by hamid064

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									INTRODUCTION OF THE BANK
History of the Bank
On 29 March 1824 King Willem I issued a royal decree creating the Nederlandsche Handel-Maatschappij with the aim of reviving trade between the Netherlands and the Dutch East Indies. In 1964 NHM merged with De Twentsche Bank to form Algemene Bank Nederland (ABN) while Amsterdamsche Bank and Rotterdamsche Bank joined to become Amsterdam-Rotterdam (Amro) Bank. In 1991 these two banks merged as ABN AMRO Bank. Today ABN AMRO has a powerful presence in world markets, building on a tradition of stimulating international trade.

ABN AMRO is a prominent international bank, its origins going back to 1824. It ranks eighth in Europe and seventeenth in the world based on tier 1 capital, with over 3,400 branches in more than 60 countries, a staff of 110,000 full-time equivalents and total assets of EUR 597.4 billion (as per 2001). ABN AMRO is listed on several exchanges, including the Amsterdam, London and New York Stock Exchanges.

History of the Bank in Pakistan: ABN AMRO N.V was the first foreign bank to enter Pakistan after its Independence in 1948. Over the last 4 years, ABN AMRO has significantly enhanced its profile in Pakistan, and is now comfortably ranked amongst the top 3 foreign banks in the domestic

Consumer Banking

market. The Bank has strategically located branches in three of the country's main business centers: Karachi, Lahore and Islamabad.

The Bank offers a full range of commercial, retail and investment banking products in Pakistan. Specialized products which have been gaining acceptance and in which the Bank is active, include project finance, debt (both local currency and Euro loans) syndication, corporate advisory, structured trade finance, Islamic banking and corporate trustee services. ABN AMRO's extensive experience in these product lines allows the Bank to maintain a dominant position as a universal international bank within the Pakistani market place.

ABN AMRO has a prestigious portfolio of corporate clients, which include multinational companies, blue chip local corporate and public sector institutions. The Bank has established an excellent working relationship with government agencies, the Ministry of Finance and the State Bank of Pakistan in particular, together with other regulatory bodies in the country. Apart from the services of an experienced team of local Relationship Managers and Corporate Finance Specialists, corporate customers also have access to the Bank's global expertise in areas like Project Finance and Debt Capital Markets. ABN AMRO lives up to its claim of being a "Network Bank" by structuring

large cross-border deals, which involve ABN AMRO staff from all over the world. ABN AMRO's position as one of the leading financiers in the Power sector in Pakistan underlies this factor, a strength that few foreign banks in Pakistan possess. ABN AMRO's consumer banking division in Pakistan is one of the most dynamic in the country. The Bank believes in developing long-term relationships and in providing customers with innovative, value-added solutions and unmatched service standards. The upcoming consumer-banking branch in Lahore has been designated as the "ABN AMRO Model Branch" for the entire Asia Pacific region. The Investment Banking & Structured Finance team, on the other hand, operates as a truly versatile unit, integrating both industry and product lines on a nation-wide basis, thereby allowing for the flexible mobilization of expertise, tailor made for specific transactions. The unit is centralized in Karachi and

Consumer Banking

operates in conjunction with the corporate banking units in the Bank's three branches. ABN AMRO's in-house Economic Research unit, the only one of its kind within the Pakistani banking industry, is responsible for publishing a variety of literature with a specific economic focus. By virtue of the level of expertise exhibited by this department, ABN AMRO is often consulted by the State Bank of Pakistan on policy issues in general and banking regulations in particular.

Over the years, ABN AMRO has developed an in-depth knowledge of the Pakistani market, its industry strengths and risks. The Bank fully understands the financial market regulations and is therefore able to structure innovative products for clients seeking diverse modes of finance in a highly competitive banking environment.

ABN AMRO has a prestigious portfolio of corporate clients, which include multinational companies, blue chip local corporate and public sector institutions. The Bank also has an excellent working relationship with government agencies including the Ministry of Finance, regulatory bodies and the State Bank of Pakistan in particular. Apart from the services of an experienced team of local Relationship Managers and Corporate Finance Specialists, corporate customers also have access to the Bank's global expertise in areas like Project Finance, Corporate Advisory and Debit Capital Markets. The bank offers offer long-standing expertise and experience in:  Consumer Banking  Corporate Banking  Investment Services  Treasury  Cash Management Services (allowing customers to provide payment and disbursement instructions electronically)  Correspondent Banking (for local and international transactions). A network of seven online branches strategically located in all the major cities supports an extensive and rich Consumer Banking foundation.

Consumer Banking

Yearly turn over The yearly turnover of the bank in year 2001 was Rs.144, 511,7000

GOAL OF THE BANK
The goal of ABN AMRO is to create value for its clients. Key in their relationship approach is a constant focus on the financial services needs of their chosen client segments. It is through the professionalism and motivation of the banks staff across the globe that they realize this value. By strict adherence to financial targets these efforts produce maximum economic value for the shareholders. The ABN AMRO Values and Business Principles provide the framework within which the bank carries out their operations. They operate in three principal customer segments, namely Consumer & Commercial Clients, Wholesale Clients and Private Clients & Asset Management. The objective is to maximize the value of each of these businesses as well as the synergies between them. Excellence of service to their clients and leadership in their chosen markets are of paramount importance to their long-term success.

FINANCIAL TARGET
Since January 2001 ABN AMRO has set itself one governing objective - maximizing value for shareholders. Setting one objective allows an organization to develop a common language and standards for decision-making and ensures that all energies are focused on reaching the objective. One objective also allows for transparency and accountability is why and how decisions are being made. The bank also believes this one governing objective will allow ABN AMRO to more effectively manage the diverse interests of the different stakeholders, including customers, employees, the government, creditors, the environment, etc.

HUMAN RESOURCE DEPARTMENT
ABN AMRO Pakistan was established in 1948 and was the first foreign bank to be granted a license by the Government of Pakistan. Over the last four years, ABN AMRO

Consumer Banking

has significantly enhanced its profile in Pakistan, and is comfortably ranked amongst the top 3 foreign banks in the domestic market. The Bank currently has a presence in 3 cities namely, Karachi, Islamabad & Lahore and employs 283 employees countrywide. The Human Resources department's role is to assist the business lines and to provide conditions where the employees can achieve their ultimate potential. At ABN AMRO the brightest and high potential individuals are hired. Individuals who share the same values and are team players are looked for. ABN AMRO invests heavily in employee development by structuring personalized development plans for each employee. The employees are trained in core banking skills and latest developments. They pride themselves in building and maintaining a corporate culture that is conducive to high performance, teamwork and responsive to change.

CORPORATE VALUES
Integrity
Above all, the bank is committed to integrity in all it does, always, everywhere.

Respect
Every individual is respected. The bank draws strength from equal opportunity and diversity, at the same time supporting personal growth and development. They value each other and they all benefit from the entrepreneurial spirit of each individual.

Teamwork
Teamwork is the essence of their ability to succeed as a universal and international network bank. Their overriding loyalty is to the whole organization, requiring them all to learn from each other and to share their skills and resources worldwide for their customers' benefit. Consumer Banking

Professionalism
In the service of the bank’s customers they are committed to the highest standards of professionalism, pursuing innovation, deploying imagination, being open to new ideas and acting decisively and consistently. They are determined to deliver outstanding, long lasting and close relationships with their customers.

RANKING OF THE BANK
The financial world has developed two ways of measuring a bank's size:

Based on tier 1 capital
This method looks only at a bank's core capital - including equity capital, open reserves and profit brought forward.

Based on total assets
This method looks at the overall balance of the bank's total assets.

CONSUMER BANKING
The bank employees pride themselves on recognizing and fulfilling the varied financial needs of their customers. In doing so, they try to develop and build upon relationships that are based on mutual trust and confidence: the very essence of what they call "Relationship Banking". The customers can operate their accounts from any ABN AMRO branch in the country.

DEPOSIT PRODUCTS OF THE BANK
Types of accounts available in PKR .    Current Account Saving Account Term Deposit

Consumer Banking

RUPEE ACCOUNTS

1. ABN Rupee Current Account: The ABN AMRO Rupee Current Account allows the customers the facility of unlimited withdrawals up to the extent of the balance in account. There will be no tax deducted on the funds that the customers choose to keep in these accounts.

Features of the Products:
 Minimum requirement to open this account is PKR 100,000/ Can have unlimited withdrawal facility  Online banking

2. ABN Rupee Saving Account:
The ABN AMRO Rupee Savings Account allow one to avail the facility of unlimited withdrawals (up to the extent of the balance in your account), while accruing profit on the customers deposit everyday. They can have the profit paid to them monthly, quarterly, annually or bi-annually, as per their requirement. Main features of product are as follows:

Features of the Product
 Minimum Requirements to open this account is PKR 100,000/ Profit calculated on daily balance basis  Profit options (monthly, quarterly, Semi-annually, annually)  Interest Tiering  Can have unlimited withdrawal facility

Consumer Banking

3. ABN Rupee Term Deposit:
The ABN AMRO Rupee Current Account allows the customers the facility of unlimited withdrawals up to the extent of the balance in their account. There will be no tax deducted on the funds that they choose to keep in these accounts.

Features of the Product
 Minimum Requirements to open this account is PKR 100,000/ Flexible tenures (3 months, 6 months, 1 year, 2 year, 3 year)  Profit options (monthly, quarterly, Semi-annually, annually )  Interest Tiering

 Pre mature encashment at no penalty below PKR 5M. However in case of an early encashment the rate of the previous tenure will be applied.  Partial encashment, which allows withdrawing a certain percentage of the customers’ fixed deposit without disturbing the remaining deposit.  Automatic roll over allows the customers’ term deposit to be automatically rolled over and re-invested at the prevailing rate.

FOREIGN CURRENCY ACCOUNTS
The customers have the option of opening Current, Savings and Term Deposit accounts in four different foreign currencies - US Dollar, Pound Sterling, Japanese Yen, and Euros. This entitles the customers to avail all the convenience of local currency accounts including:

Consumer Banking

1.

ABN FOREIGN CURRENT ACCOUNT

Features of the Product

 Minimum Requirements to open this account is USD 5,000/- (or equivalent in other currency)  Unlimited cash withdrawals up to the balance in your account  Deposits facility

2.

ABN FOREIGN CURRENCY SAVING ACCOUNT
 Minimum Requirements to open this account is USD 10,000/- (or equivalent in other currency)  Profit calculated on daily balance basis  Profit accrued on a daily basis  Automatic rollover of deposits  Unlimited cash withdrawals up to the balance in the customers’ account

Features of the Product

3.

ABN FOREIGN CURRENCY TERM DEPOSIT

Features of the Product
 

Minimum Requirements to open this account is USD 100,000/Tenures (3 months, 6 months, 1 year)

 Profit options (at maturity)  Automatic roll over allows the customers’ term deposit to be automatically rolled over and re-invested at the prevailing rate.  No premature encashment

Consumer Banking

SERVICES AVAILABLE BY THE BANK
At ABN AMRO, the employees endeavor to make their banking experience a memorable and enjoyable one. The bank is not just the customers’ bank, but their business partner as well. It is the bank’s unique commitment to absolute service excellence that drives it forward. Their global strength enables them to provide their valued customer, a complete range of financial products and expertise. At ABN AMRO, all the customers needs are met, through a true Relationship of Service.

LOAN PRODUCTS
Customers can switch to credit card loan to ABN AMRO with the Balance Transfer Facility and save on the interest charged by their credit card company. Afraid to borrow from a bank because of the heavy interest payments and bulky monthly installments, one can turn to the Smartest Loan in town, ABN AMRO's Personal Installment Loan. For many, the desire to own their own home remains a dream. ABN AMRO makes this dream a reality. Clients can Convert their deposits into a security and avail the ABN AMRO Business Loan. Following types of loans in consumer banking are available to customers: 1. Personal Loans 2. Home Loans 3. Loan Against Securities

PERSONAL LOANS
In personal loans following loan products are avail able to customers:

Consumer Banking

BALANCE TRANSFER FACILITY
The ABN AMRO Balance Transfer Facility makes the customers’ life so much easier. It gives customer the opportunity to switch their credit card loan to ABN AMRO, at a rate that is up to 50% lower than what is charged by credit card companies.

Borrowing limit with BTF
The borrow limit for BTF is from Rs. 50,000 to a maximum amount of Rs. 400,000; depending on ABN AMRO's qualifying criteria. Facilities attached with BTF: The Balance Transfer facility allows the following facilities  To make purchases from Home Alliances and Philips outlets  (To make purchases from Home Alliances, the customers just have to go to their outlets, select the product and call at non-stop-banking center).  Provides the convenience of making utility bill payments over phone.  Utilize as much as the customers want  Access their funds whenever they want  Make easy minimum monthly payments (3% of loan amount plus 1.67% mark up)  Pay in easy installments  Pay back the outstanding in full (with no penalty)

Other advantages  The customers gets their own ABN AMRO current Account, without any minimum balance requirement (balance requirement will be waived), which will give ease of payments in installments  An ABN AMRO Relationship Card is issued to the customer. With it he/she have instant access to his/her account from over 55 ATM’s all over the Pakistan, and over 50,000 around the world.

Consumer Banking

 The Relationship Card can be present at variety of leading retail outlets in Karachi, Lahore, and Islamabad to avail privileged discounts and deals.  Take advantage of various deals and discounts around the country as part of the Lifestyle Plan.

Customers can pay BTF Bill following cards: The customer can use their BTF to pay off his or her bills on the following cards:  CITIBANK VISA  CITIBANK MasterCard  SCG VISA  SCG MasterCard  ASKARI MasterCard  MCB MasterCard  American Express Card

Eligibility criteria for BTF
The customer is eligible to apply if his/her age is between 21 and 60 years. He must have a valid Citibank VISA/MasterCard or ANZ VISA/MasterCard that has been renewed at least once (held by him for the last one year).

For Salaried persons
The customer must have been continuously employed for 3 years (or more) overall, or at least 2 years with his current employer.

For Self-Employed Professionals and Business persons
The customer business or professional experience must be equal to, or more than 3 years.

Consumer Banking

Documents required applying for BTF:  Copy of National Identity Card/Passport.  Copy of latest Credit Card Statements.  Original/dully attested Bank Statements by the concerned bank for the last six months (where applicable).  Copies of Citibank and/or SCG Credit Cards.  Proof of Credit Card Renewal for SCG Credit Cards.  Any other documents that is required by the bank

Personal Installment Loan
The slogan of PIL is to “Stop worrying and start thinking smart”! The customers have a dream of a daughter's wedding perhaps or a child's education. But there's only one thing preventing them from achieving it. Money. So far people are held off borrowing from a bank because one is afraid of the heavy interest payments and bulky monthly installments.

Borrowing limit for Personal Installment Loan
Borrowing limit for personal installment loan is from Rs. 50,000 to a maximum amount of Rs. 500,000; depending on ABN AMRO's qualifying criteria.

Pay Back Criteria for Personal Installment Loans
The ABN AMRO Personal Loan is extremely flexible.


Choice is with the customer decide their own the repayment period - 1, 2, 3, 4 or 5 years. Whatever suits them

   

A direct debit from ABN AMRO current account. Post dated cheques. Direct deductions from your salary. Mark up rate 11%

Consumer Banking

Example of Repayment Schedule Equal Monthly Installment for respective tenures 1 Year 2 Years 3 Years 4 Years 5 Years

Loan Amount 50,000 100,000 200,000 300,000 400,000 500,000 4,632.68 9,265.37 2,545.77 5,091.53 1,859.20 1,522.58 1,324.69 3,718.40 3,045.17 2,649.39 7,436.79 6,090.34 5,298.78

18,530.73 10,183.07

27,796.10 15,274.60 11,155.19 9,135.50 7,948.17 37,061.46 20,366.14 14,873.59 12,180.67 10,597.55 46,317.25 25,447.90 18,581.79 15,215.18 13,246.94

Other facilities available with Personal Installment Loan  Take advantage of various deals and discounts around the country as part of the Lifestyle Plan.  Access over 90 ATMs nation-wide.  Customers can call the Non-Stop Banking Canter (NSBC) at 0800-10000 and pay their utility bills, free of cost.  Make use of the banks online banking facilities across Pakistan.  Joint Borrowing Facility through which one can enhance your loan entitlement against ones own or spouse's income. Spouses are be jointly responsible for the loan

Eligibility Criteria for Personal Installment Loan:
Age Employment. Between 21 to 60 years Regular employment for the past 2 years, with at least 1 year with present employer.

Consumer Banking

Self-Employed Professionals
Employment. At least 3 years of experience.

Documents Requirements:
 Copy of National Identity Card/Passport.  Copy of last Credit Card Bill/any Utility Bill.  Original or duly attested bank statements by the concerned bank for the last six months (where applicable).  Any other documents that ABN AMRO Bank may require.

Salaried persons  Employment Certificate from HR/Personnel Department (Stating designation, tenure of employment and gross and net salary).  Original or duly attested salary slip by HR (latest and at least one-year old).

For Self-Employed persons  Professional Association Certificate (for Self-Employed Professionals only).  Proof of Business (for Self-Employed Business Persons only).

HOME FINANCE
Under this lending three type of finances are available to the Customers of ABN AMRO Bank:

ABN AMRO Home Buyer ABN AMRO Home Builder ABN AMRO Home Lender ABN AMRO Home Refinance

Consumer Banking

1. ABN AMRO HOME BUYER
This type of facility is for those people who want to buy a constructed home. And don’t want to be in hassle of constructing their home. They just want to buy home and want to sit in it. Customers just have to find a home for themselves and contact to ABN AMRO Home Buyer. What one can borrow?  Up to 70% of appraised value for your new home(or upto Rs. 6 million, which ever is high)  Easy installment repayments:  Repayment period ranging between 3 to 15 years Pay Back Criteria: One can pay back their loan through:
 

Direct debit to your account. Post-dated cheques

1. ABN AMRO HOME BUILDER
This lone facility is for the people how don’t want a ready-made home for themselves. They want to make it by their own choice and will. ABN AMRO Home Builder is the answer. It provides money to construct the house of their own choice and the funds to build the home of dreams.

What one can borrow?  Upto 60% of the appraised value of the property plus estimated cost of the construction (or upto Rs. 6 million, which ever is lower)  Easy installment for repayments  Repayment period ranging between 3 to 15 years  Maximum period for constructing the home.

Consumer Banking

Pay Back Criteria: One can pay back loan through:
 

Direct debit to account. Post-dated cheques

2. ABN AMRO HOME LENDER
This facility is for those people who want to renovate their home. And they don’t have enough money to spend on renovation, as they want. In case ABN AMRO Home lender is the best way to meet all renovation expenses. What one can borrow?  Upto 40% of the appraised value of the property (or upto Rs. 2 million, which ever is lower)  Easy installment for repayments  Repayment period ranging between 3 to 15 years  Maximum period for constructing the home. Pay Back Criteria: Customers can pay back loan through:  Direct debit to account.  Post-dated cheques

3. ABN AMRO HOME REFINANCE
ABN AMRO Home Refinance allows borrowing an amount equivalent to the loan amount one has borrowed from elsewhere and gives a chance to pay back with flexible installments.

Consumer Banking

What one can borrow?  From Rs. 300,000 to a maximum amount of Rs. 5,000,000; depending on ABN AMRO's qualifying criteria.  Easy installment for repayments  Repayment period ranging between 3 to 7 years  Maximum period for constructing the home. Pay Back Criteria: One can pay back loan through:  Direct debit to your account.  Post-dated cheques

Requirements for Appling ABN AMRO Home Finance:  Customers can avail financing against residential property, which they own and live in.  They may apply for ABN AMRO Home Finance, if they are a resident Pakistani living in Islamabad/Rawalpindi, Karachi or Lahore.  They are eligible to apply if age of a customer is between 25 and 62 years.  Spouse’s income (up to 50%) may be combined with ones own for determination of the loan amount.  Customers need to have 3 years (or more) of business or professional experience.  They need to have continuous employment for 1 year (or more) with their current employer, with 2 years of past experience in the same industry/field, or 2 years with current employer only.

Consumer Banking

Loans Against Securities/Business Loans:
The ABN AMRO Business Loan is an overdraft facility where a depositor can avail ready funds against existing deposits or instruments placed as security.  Deposits with the Bank against which the business loan can be availed can be in the form of transaction accounts (Current or Savings), and Term Deposits.  The minimum deposit size with the Bank must be Rs. 1,000,000.  Other instruments allowed are:
 

Government securities: SSC, DSC, RIC USD Bonds

 Maximum loan amount to be availed is up to 75% of the total amount pledged.  Minimum loan amount is Rs. 500,000.  Rates are highly competitive.  The pledged deposit / security remains undisturbed and continues to earn its income.  Amount can be credited to a functioning overdraft current account, with a revolving overdraft line, taken as cash, or utilized as a payment instrument (i.e. a pay order).  The Relationship Manager manages financial needs.  Turn-around-time is committed at disbursement within 24 hours of submission of request.  The request has to be made through an account officer (RM).  Funds available through our branches, ATMs and NSBC. Other facilities  FREE Relationship Card  FREE Chequebook

Consumer Banking

 FREE online banking facilities (ATMs, NSBC and Drop Boxes) 24 hours a day, 7 days a week.

Services by the ABN AMRO Bank:
At ABN AMRO, endeavor to make banking experience a memorable and enjoyable one. They are not just your bank, but customer’s business partner as well. It is their unique commitment to absolute service excellence that drives them forward. Their global strength enables them to provide valued customer, a complete range of financial products and expertise. At ABN AMRO, all the needs are met, through a true Relationship of Service The following services are available by the bank:  24 hours banking  ATM Networks  Drop Boxes

24 Hours Banking Service
With ABN AMRO's 24-Hour banking service, customers can get total accessibility and convenience. The Non-Stop Banking Center provides a wide range of banking facilities 24 hours a day, 7 days a week to the customers. The nation-wide network of ABN AMRO over 90 ATMs allows you convenient access to ones cash at all times. With ABN AMRO, banking does not mean 9 to 5. With them, they bank round the clock. Three main services are available under 24 hours banking Service.

Consumer Banking

1. Non-Stop Banking Center (NSBC) 2. ATM Networks 3. Dropbox Facility

Non-Stop Banking Service
The friendly and highly trained online Personal Banking Advisors provide a range of financial and non-financial services, at the customer's convenience over the phone, absolutely free of cost. Furthermore, customers can pay a variety of utility bills, such as telephone, gas, cellular and electricity, easily and completely hassle-free. Services Available under Non-Stop Banking Center:

A. Non-Financial services
Account Balance query Transaction details query Collection / Clearing query Inward / Outward remittance query Loan account / overdraft query Bank statements Duplicate advice Request for chequebook Balance certificates Zakat deduction certificates Interest payment certificates Tax deduction certificates Account maintenance certificate Change of address / telephone number Stop payments Opening of account extensions

Consumer Banking

B. Financial services
Issuance of Pay Orders, Demand Drafts Internal transfers Pre-approved Third party internal transfers Term deposit bookings Term deposit encashment Term Deposit rebooking Utility Bill payments BTF Bill payments

C. General Information
Branch network inquiry Opening /closing account queries Products information Account modification queries Information on Government securities Bank charges Life Style Plan information

1. ATM Networks:
The banks Offsite ATMs at Stadium Road (Karachi), Park Towers (Karachi) and Gulberg (Lahore) are the symbols of their commitment to their clients. the ATMs allows access to customers money 24 hours a day, 7 days a week, giving a flexibility to bank at ones convenience. Some of the things the Relationship Card can do on the ATM:  Rupee cash withdrawal  Fast Cash  Account balance inquiry  Statement request  Mini statement printing Consumer Banking

 Chequebook request  Funds transfer  Personal Identification Number (PIN) change facility

ABN AMRO Shared ATM Switch
Through the alliances with strategic partners such as Habib Bank Limited, Askari Commercial Bank Limited and Soneri Bank Limited, ABN AMRO has introduced the first 'Live' ATM sharing network in the country. They offer customers an unprecedented level of convenience and accessibility to their cash at over 90 ATMs nation-wide.

2. Dropbox Facility
For the convenience of banking 24 hours a day, 7 days a week, the bank provide customers the dropbox facility. Located at all ABN AMRO branches and all ATM sites, including off site ATM locations drop boxes offer the convenience of absolutely free and secure cheque deposits. Drop box can be used for
 

Cheque deposits into account. Loan repayments.

Procedure of using dropbox facility: Fill in the envelope Put the check in the envelope and seal it properly Slip the envelope into the Dropbox.

LOCKERS
ABN AMRO Lockers are safe, convenient and private. As an ABN AMRO customer, you can enjoy personalized service and operate their lockers in a friendly and pleasant environment. If jewellery has been giving someone sleepless nights, and the valuable

Consumer Banking

stuff at home makes any one feel tensed, AMRO gives peace of mind. Minimum balance for locker is Rs. 100,000, with a key deposit of Rs. 2,000.

Locker Sizes and Fees
Small Rs. 2,500 per year Medium Rs. 3,500 per year Large Rs. 5,000 per year

Preferred Banking
In preferred banking customer get special services from an appointed Relationship Manager. The in-branch Service Specialists caters to all banking needs. AMRO

provides the customers with the guidance trust and experience that they expect from financial partners.

Eligibility criteria for Preferred Banking:
It requires relationship /deposit of Rs 2,000,000 or equivalent in foreign currency, one are entitled to Preferred Banking Services.

Services under Preferred Banking:
 A Personal Relationship Manager for financial advice.  An exclusive service area and a dedicated cash counter.  Waiver of charges on most banking transactions.  Competitive rates on loan facilities.  Minimum turn around time for all transactions.  Highest Cash limit available on ATM of Rs. 50,000 per day from each of accounts linked to the ATM facility (Current and Savings).  Trade facility services.  No key deposit for lockers and no charges for 6 months.  Retrieval of paid cheques  Cancellation of PO/DO

Consumer Banking

SPECIAL OFFERS
Another powerful feature added to BTF Loan Account is that now clients can enjoy shopping for domestic appliances at all Home Alliance outlets on specially discounted rates and make use of the ABN AMRO BTF Loan Account power to pay it off. ABN AMRO, the first multi-national bank in Pakistan has joined hands with Home Alliance to bring a whole array of home appliance products at unbelievable prices. Through Balance Transfer Facility customers can now enjoy this unique collaboration and use the powerful payment advantage of BTF to get discounted rates on an entire portfolio of domestic appliances from the best brand names in the market.

About Home Alliances
Home Alliance is the leading local hire purchase firm dealing in domestic appliances, electronic goods and computers. Home Alliance has five conveniently located display centers in Karachi. The idea to have display centers is to give customers a chance to come with their families and shop around in a relaxed, congenial and friendly atmosphere. Currently Home Alliance has products belonging to the following brands:  Sony Televisions, VCRs and VCPs  Samsung Electronics, Samsung Appliances  LG Electronics  Sharp Electronics, Sharp Refrigerators & Air conditioners  PEL Appliances  National Air conditioners  Philip Whirlpool  Hitachi & Luminar Televisions  Moulinex Validation of Purchase order: The purchase Order issued by Home Alliance is only valid for 7 calendar days period, it remains of no legal value and one has to have to issue a new Purchase Order from Home Alliance.

Consumer Banking

BTF - IMPL Philips Plan
The first multi-national bank in Pakistan has joined hands with IMPL Philips (the Philips Institutional Sales entity) to bring a whole array of home appliance products at unbelievable prices. By availing Balance Transfer Facility customers can now enjoy this unique collaboration and use the powerful payment advantages of BTF to get discounted rates on an entire portfolio of Philips domestic appliances.

About BTF - IMPL Philips Plan
At IMPL, one can get all the electrical and electronic products they ever wanted to own all under one roof. Primarily supplying such items to the institutional sector, IMPL allows an access to Philips products at prices that one finds easy and affordable. Apart from having a reputation for having the best, most efficient after-sales service network, IMPL also has the distinction of being the exclusive Philips corporate distributor for sound & vision and household items. So whether the customer is in Karachi, Lahore or Islamabad, he just have to visit one of the numerous IMPL offices and display centers to satisfy household needs. Sony Televisions,VCRs and VCPs Samsung Electronics, Samsung Appliances LG Electronics Sharp Electronics, Sharp Refrigerators & Air conditioners PEL Appliances National Air conditioners Philip Whirlpool Hitachi & Luminar Televisions and Moulinex.

Consumer Banking

Procedure to use BTF - IMPL Philips Plan:  Customers need to call Non-Stop Banking Center at 0800-10000.  NSBC officer checks on BTF credit line and directthe customers to an IMPL outlet.  Customers can Visit the outlet and decide on the products available on discount. IMPL issues an estimate for the buyers  When customer is sure about the purchase, he has to fill out a Purchase Order and have it stamped by Philips.  A customer can Call Non-Stop Banking Centre at 0800-10000 and requests a Pay Order through his or her ABN AMRO BTF Loan Account, in favour of IMPL for the amount stated in their Purchase Order. Also he has to state Purchase Order number as reference. (Purchase Order is only valid if the payment is made within seven calendar days of issuing the Purchase Order).  Delivery of the Pay Order to IMPL is made the same day, if requested before 1:00 p.m. and the next working day if requested after 1:00 p.m.  Customers get the goods as per their arrangement with IMPL.

ABN AMRO Life Style Plan:
In this facility the ABN AMRO Bank have created 7 different categories in our Lifestyle Plan. Customers favorite restaurants, designer outlets, health services, adventure clubs, and a host of exciting deals to match their Lifestyle.

E-Products of ABN AMRO Bank:
Bank station
ABN AMRO offers BankStation, a windows based (Euro compliant) electronic banking platform that provides 24 hour access to operating accounts. Bank Station allows a secure, convenient means to electronically transmit and receive local and foreign currency payments and collections, as well as download essential information and MIS from account. Consumer Banking

Bank Station Payment System – Introduction Businesses today depend greatly on ready access to vital financial information in order to stay ahead. ABN AMRO Bank Electronic Banking System 'BankStation' allows corporate customers to do their banking in the convenience of their own offices and communicate directly with the various branches of the bank. Many benefits can be derived in using Electronic Banking both for the customers and the bank.

Key Benefits
 Customization to own needs to meet business goals of improving efficiency and reducing costs.  Easy integration with existing back-office applications and system.  Turnaround processing time for transactions is much shorter.  Through file integration or pre-defined input, it increases accuracy and minimizes errors.  Transactions can be created much faster.  Highest standard of security is assured in using Message Authentication Code (MAC) and Data Encryption Standards (DES) key.  Bank Station Features  A user-friendly system with on-line help prompts.  Data import/export capability.  Standard interface with widely used accounting packages.  Secure -e-mail reporting facilities for inquire and ad-hoc reports.  State-of-the-art remote "info transfer" update facility for efficient distribution of software and library updates.

Consumer Banking

Information Reporting
Bank Station provides information when the person is in need of it. Bank Station gives customers  Continuously updates information on intra-day transactions.  Daily complete account statements, which reflects all the transactions with opening and closing balances.  A powerful 'Find' option to locate a single transaction or a range of transactions quickly.  A flexible report generator to customize reports.  There is an option to export data to ones own accounting system for further analysis or reconciliation.  For Payments: a reconciliation feature to track the status of payment instructions.  Viewing of Collection proceeds as they are credited to main account.

FINANCIAL CALCULATOR
This is an online facility available to the customers/ non-customer to evaluation of different loan facilities with the ABN AMRO BANK. It gives the information about the installments on desire loan amount, interest on that amount per installment and the principle amount on per installment. The financial calculator is available for following Lending facilities:  Balance Transfer Facility Calculator  Personal Installment Loan Calculator  Home Finance — Home Buyer Calculator  Home Finance — Home Builder Calculator  Home Finance — Home Lender Calculator  Home Refinance Calculator

Consumer Banking

ATM Networks:
Banks Offsite ATMs at Stadium Road (Karachi), Park Towers (Karachi) and Gulberg (Lahore) are the symbols of their commitment to customers. The ATMs allows an access to money 24 hours a day, 7 days a week, giving you flexibility to bank at ones own convenience. The things a Relationship Card can do on the ATM:  Rupee cash withdrawal  Fast Cash  Account balance inquiry  Statement request  Mini statement printing  Chequebook request  Funds transfer  Personal Identification Number (PIN) change facility

ABN AMRO Shared ATM Switch
Through the alliances with strategic partners such as Habib Bank Limited, Askari Commercial Bank Limited and Soneri Bank Limited, ABN AMRO has introduced the first 'Live' ATM sharing network in the country. They offer their customers an unprecedented level of convenience and accessibility to their cash at over 90 ATMs nation-wide.

Consumer Banking

E-Banking Facility Available in Other Countries but Not in Pakistan
ABN AMRO Desktop Statement Analyzer
This powerful utility lets customers aggregate & analyze their Net Banking account statements without remaining connected to the Internet. So one can now pore over their transactions -sorting them, filtering them, totaling them the way they want to- without keeping their telephone line busy and running up the internet bill. The application can be downloaded from the Net Banking service. Login using Net Banking ID and go to the Accounts section. Download and install the application on PC as per instructions. Once done, it update the accounts & transactions using customers Net Banking ID without having to browse the Internet ever. If a customer has a business set-up, and use standard accounting packages, he can even download the transaction history to these packages for financial analysis.

ABN AMRO Bank's NetBanking service is a state of the art facility, which allows to do virtually all banking activities. With NetBanking one can access all their banking and depository accounts with the Bank, 24 hours a day, 365 days a year, from anywhere in the world. A host of features like booking fixed deposits, transferring funds, paying utility bills and ordering for draft/cash delivery to Doorstep, among others will definitely make NetBanking the most convenient way for clients to conduct their banking activities. Facilities Available on NetBanking: NetBanking opens up an entirely new way of doing banking, anytime and from anywhere, provided the client has an access to an Internet connection. With Net Banking, one can do the following:

Consumer Banking

1) View a) Details of all his accounts with the Bank (deposit, loan and demit!) b) Transaction details, Cheque status, details of Tax Deducted at Source on accounts. 2) Transact a) Transfer funds between ones own accounts or any other account * with ABN AMRO Bank in India b) Open a fixed deposit by transferring funds from savings / current account c) Place a stop payment on cheque (s) d) Order a demand draft or cashier's cheque and have it delivered to his doorstep e) Pay utility bills or schedule payments for particular days. f) Shop at various outlets on the Internet 3) Request a) For a new cheque book b) For cash delivery or a pick up of cheques** c) For Interest certificates, Form 15H, amongst others 4) Receive Alerts on email and mobile phone a) For customers Bills / installments due for payment, fixed deposit maturity dates b) When a person receives his salary credit, receive large debit/credits to his account, or when your balance falls below a specified amount

5) Calculate a) The amount required if one wants to pay off the loan b) The amount due if client wants to close Fixed Deposit 6) Communicate a) With the Bank through a secure mail facility

Consumer Banking

7) Customize a) the password b) Give nicknames to the accounts c) Set the date and amount format of convenience

Needs for Net Banking
To begin using Net Banking clients send need their User ID and Login Password that they are provided by the Bank. This allows logging on to NetBanking and view details of all ones accounts. In addition, the Bank also provides with a separate Password that enables to confirm the transactions on NetBanking. The following configurations for computer are recommended for optimal performance:  Pentium processor with at least 64 MB RAM  Windows 95 (or a later version) or Windows NT  A browser (Preferably Microsoft Internet Explorer version 5 or a later version)  800x600 screen resolution.

Security of the Transactions at NetBanking
ABN AMRO Bank uses a combination of robust processes and state of the art infrastructure to provides a very secure NetBanking experience. To mention a few safeguards:

Technology
 The Bank will be constantly monitoring and upgrading its technology to make sure that the accounts are absolutely secure. The Bank maintains the highest of standards as far as security technology is concerned, some of which are :  28 bit SSL encryption - This is the highest level of security available for communication and transactions on the Internet. SSL encryption allows the Bank to encrypt information, so that when it travels through the Internet, it is scrambled and cannot be accessed by anyone else. SSL also ensures information is sent to the correct place and that it is not tampered with.

Consumer Banking

 Verisign Certification - This NetBanking site is certified by VeriSign as a VeriSign Secure Site. VeriSign, Inc. is the leading provider of trusted infrastructure services to websites, enterprises, electronic commerce service providers and individuals. (Www.verisign.com)


Secure mail: The 128 bit SSL encryption used ensures that the mail facility available on Netbanking gives a higher level of security for communication with the bank, as opposed to general email facilities available on the internet.

Customer Access Security
 User ID and Passwords - Every customer is provided with a unique User ID and a Login Password to access NetBanking. In addition a Transaction Password is required for conducting any transactions on NetBanking. The Bank will send the Passwords to customers separately for added security and they be prompted to change both the Passwords upon using NetBanking for the first time.  Unauthorized access - In case there are three unsuccessful attempts to log in to NetBanking, the User ID is disabled to prevent any unauthorized access. Furthermore, if a customer has logged into Net Banking and has not used the application for 10 minutes, the system automatically logs him out. This is to prevent any unauthorized access of clients account, in case one has left the computer unattended, without having logged out of Net Banking.

Charges for the Service
Net Banking is an absolutely free service that gives an access to the accounts and lets the customer transact over the Internet. It is available without any sign up or subscription fees. However, standard commission/transaction fees for bank services such as purchase of demand drafts/ cashiers cheque, etc., still apply.

Consumer Banking

FUNCTION OF DIFFERENT DEPARTMENT OF ABN AMRO BANK
 Corporate Department

 Automation  Trade Finance  GTS (Global Transaction Services)  Cash and Transfer  Administration  Consumer Banking

CORPORATE
    Corporate facilities banking requirements of companies Based on collection company’s financials market reputation future cash flow prepares credit proposal Credit proposal includes the facilities given to company i.e. funded / nonfunded facilities LCs short term, long term advances etc. Client related other transaction are also facilitated through the department like disbursals against export documents paying off of LCs treasury related issues

AUTOMATION
    Score printing DBA activities Lotus notes monument Lisa NT Consumer Banking

     

Customer & user support Network monitoring ATM Banking software support Testing of new software’s Updates of software

CASH & TRANSFER

         

Cash deposit & withdraws. Account opening Check book opening Issue of checkbooks. Stock payments Clearing Collections Fixed deposits Issuing of P.O. (DD) Remittances

Consumer Banking

TRADE & FINANCE           LC opening Guarantee Collection Discounting Negotiation Refinancing Post shipment Pre shipment Advance payment Import loan

GTS           Correspondence with the banks Customer help Accept remittance then fax to Karachi for processing Confirmation of payment advises to concern banks Problem solving Help to Karachi for processing of documents Faxes account statement to the clients Telephonic help to the customer Marketing for the new client International customer help

Consumer Banking

ADMINISTRATION & HUMAN RESOURCES Administration
       General Administration Branch security Purchases Expense control Payments Expense booking to Accounts Fixed Asset Management

Human Resources
       HR department is centralised at Karachi, Lahore is only a representative office. Functions are: Processing & Disbursement of Staff loans Updating the Lahore Staff files Salary Disbursement of Contractual Staff Internships Staff Leaves schedule

CONSUMER   1) 2) 3) Sales & Services of Retail Clients. Three basic Sales Team External Sales General Banking Preferred Banking

Consumer Banking

NON STOP BANKING CENTRE SERVICES
The following transactions are exempted from the bank charges, if conducted via the Non Stop Banking Centre. 1. Issue of Balance Confirmation, Reference, Profit Payment, Tax Deduction and Zakat Deduction Certificates. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Issue of Duplicate Statements / Advices Cheque Book Requisitions Issuance of Drafts and Pay Orders (FCY & LCY) Telegraphic Transfers (FCY & LCY) Internal Transfers Balance Inquiry B.T. F. Transactions Issuance of Traveller Cheques (LCY & FCY) Balance Confirmation to Auditors. Stop Payment of Cheques, P.O.’s & D.D.’s

Consumer Banking

Problems
The department of Direct Sales Asset needs more work force. If we see the total base potential of the city is 20186, the number of relationship managers is not enough to cater the needs of this segment. The maximum calls a person can handle each day is about 5 so if a person makes 5 calls a day it makes 1560 calls a year minus the off days that include Sundays and the annual leaves. If we divide the base potential by number of calls by each relation ship manager it is 13.10. It is practically impossible for one person to handle 13 calls a day so there is a need to add more people in order to fulfill the targets of the bank.

Market update

Category Total # of Comp. Not in Lahore

Company “A” 144 35

Company “B” 201 52 9007 2425 580 12012

Employee: 20,000 to 25,000 5214 Employee: 25,000 to 50,000 1570 Employee: 50,000 & above Total Base Potential 1390 8174

 

Remaining Base Potential A, 2960 Remaining Base Potential B, 3005

Consumer Banking

CURRENT ORGANIZATIONAL CHART

Adil Rehman

Consumer

Banking

Head
Ahsan Iftikhar

Sales Manager Consumer Loans
DMD PBC

Mort

Team
G M Nasir Mujahid

PL
Bushra Tasneem Naeem Nadeem Fawad Amir

Amna AHD

Hina processor

Consumer Banking

RECOMMENDED ASSET ORGANIZATIONAL CHART

Adil Rehman Consumer Banking Head
Ahsan Iftikhar

Sales Manager Consumer Loans GM Nasir GL/Mort
M Naeem

Nadeem Butt

Bushra Supervisor/DMD

GL/PL GL/PL
Mujahid TBA Amir Zeeshan LTI TBA Fawad Farooq LTI TBA

Amna AHD

Tasneem PL

Hina processor

Consumer Banking

Problem
Marketing is centralized. Basically the marketing consists of physical coverage and indirect marketing. In the indirect one, a set plan is to be followed which comes from Karachi. The system does create unity in the organization but employees tend to lose creativity sometimes. They do give suggestions but approval for that takes time. For example, recently a debit card was introduced, it was launched only in Karachi but the advertisements were placed in newspapers nation-wide. So the prospects started calling the Lahore office employees. They themselves were not aware of how the card actually works, etc so they were unable to give that required level of information to customers that created a sort of bad image.

Recommendation
Coordination in the network of organization should be increased, so people should be able to satisfy customers’ complaints. Suggestion from the staff should be taken into consideration while making decisions for launching new products etc as they will feel more motivated and important and they will put more efforts in benefit of the bank.

Problem
The target market is the upper class or in other words, the bank places restrictions on some of the areas where they don’t sell their products. They have a list of negative areas. If people have residence or offices in negative areas, they would not be able to avail the facilities of the bank. They have placed salary restrictions, for A class companies it is Rs. 25000 and for B class companies it is Rs. 30000. Such restriction limits the bank’s target market to few areas and companies.

Consumer Banking

Recommendation
The bank should give loans to people meeting their criteria instead of taking in consideration the negative areas and defined companies. There should be a criteria based on personal profile.

Problem
When the Human Resource Department hires new people, they are either hired as long term interns or on contractual basis. Sometimes contract is given to the internees working in the bank. Some staff members work on contract basis for years and they are not made permanent employees. This results in no motivation of employees. Staff does not feel the sense of security from the job and they keep seeking permanent jobs while working for the bank.

Recommendation
The employee induction should be done as such that the employees should be hired as trainees first but their should not be an indefinite period of the contract they should made clear while hiring them the period of the contract, so they work with full motivation and commitment towards achieving their targets. The employees will not be threatened about getting fired in this way.

Problem
Staff of the bank is not very satisfied with the compensation packages and their salaries.

Recommendation
Salaries should be increased in order to give employees the feeling of security in the job. Another thing that should be done is to make employees permanent as soon as they show the required level of performance. This will help improve motivation level of employees without a compromise on service excellence.

Consumer Banking

Problem
Most of the applications of Personal Loans and Balance Transfer facility are approved by Direct Sales Asset Department but they get rejected reaching Risk Management Department.

Recommendation
Coordination should be increased with customers to remove discrepancies in documents before they are sent to RMD, once the application is rejected by RMD. All the efforts and time the RM devote to locate and sell the product is wasted. Along with time and effort, the bank loses a client.

Problem
Sometimes customers keep waiting for calls of approval of the applications. Dispersal calls are made to inform customers of their approval but there is no system to inform people who are unable to get approvals. So they either keep calling or waiting for the bank and they have to ask themselves about the approvals.

Recommendation
There should be a system to give feedback to those customers who are unable to get approval with a reason that is sufficient enough to satisfy the customer, so he keeps the bank in his consideration set for future transactions.

Consumer Banking

CONCLUSION
I preferred internship to final project because I always wanted to gain practical experience of working in the corporate world. Banks especially foreign banks are the hub of learning and enhancing our knowledge regarding business world. Though six weeks were not enough to grasp the full context of the functions of the bank nevertheless I tried my best to gain as much knowledge and experience as possible. During my internship I gained priceless knowledge regarding products of the bank being offered to customers, functions of the departments and also the bank as a whole the way it functions, and relationship building with valued clients. The internship will play a major role in establishing my career in the corporate world.

Consumer Banking


								
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