Bank of Punjab Internship Report
The bank of Punjab was constituted in pursuance of the Bank of Punjab Act 1989 and it started working on 15Nov. 1989. Its registered Head Office is situated at
7-Egerton Road, Lahore. The BOP was given the status of scheduled bank by the state Bank of Pakistan on September 19, 1994.
Authorized capital of The Bank of Punjab as on 31-12-2005 is RS.1,000,000,000/-(RS. 100,000,000 ordinary shares of RS. 10.00 each). Issued subscribed and paid up capital of the bank is RS. 157,500,000/-(RS. 15,750,000 ordinary shares of Rs.10.00 each fully paid in cash). Shares issued for consideration other than cash are Rs. 694,380,000/-(Rs. 69,437,976 ordinary shares of Rs. 10.00 each as fully paid bonus shares). So total paid up capital of the bank is Rs.851,880,000/- (rs. 157,500,000+694,380,000).
The bank of Punjab is listed at Lahore and Karachi Stock Exchanges. Fifty one percent (51%) of the share capital is held by the Government of Punjab and the rest is owned by Pakistani individuals/firms and foreigners.
The bank strives to be a world class financial institution working on modern lines. It aims at offering the financial markets of the global economy a unique system which would revolutionize the ethics and value system of the economic scenario of modern society.
NATURE OF THE ORGANIZATION
A unit of service industry of Pakistan, BOP (commercial bank) is engaged in the borrowing, lending and advancing of money, the drawing, making, accepting, discounting, buying, selling, collecting and dealing in bills of exchange, promissory notes, drafts, bills of lading, receipts, warrants, debentures, certificates etc.
It is also engaged in the buying, selling of foreign exchange including foreign bank notes, the acquiring ,holding, issuing on commission , underwriting and dealing in stocks, funds, shares, debentures, the negotiating of loans and advances , the receiving of all kinds of bonds, valuables on deposit or for safe custody.
The providing of safe deposit vaults the collecting, and transmitting of money and securities.
VISION STATEMENT
To be a customer focused bank with service excellence.
MISSION STATEMENT
To exceed the expectations of our stakeholders by leveraging our relationship with the Government of Punjab and delivering a complete range of professional solutions with a focus on programme driven products & services in the Agriculture and Middle Tier Markets through a motivated team.
BANK’S VALUES
Our Customers As our First priority
Integrity In all our Dealings
Excellence In Every Thing We Do
Respect Four customers and each other
Recognition and Reward For the talented and high performing employees
Profitability For the prosperity of our Stakeholders that allows us to constantly invest, improve and succeed
Corporate Social Responsibility To enrich the Lives of the Community where we operate
INTRODUCTION
THE BANK OF PUNJAB is working as a scheduled bank with its network of 266 branches at all major business centers in the country . Its registered Head Office is situated at 7-Egerton Road, Lahore. The bank provides all types of banking services. The majority shares(i.e.51%) of the bank are held by the Government of Punjab.
The bank has entered a new era of science and automation at the hands of its expert and professional management. The bank of plays vital role in the national economy through mobilization of hitherto untapped local resources promoting savings and providing funds for investment.
The bank offers attractive rates of profit on all types of deposits, opening of foreign currency accounts and handling of foreign exchange business such ad import and export and remittance, financing trade and industry for working capital requirement and money market operations. The lending policy of the bank is not only cautious and constructive but also based on principle of prudent lending with maximum emphasis on security.
DEPARTMENTS VISITED BY INTERNEE
A. CASH DEPARTMENT
B. REMITTENCE DEPARTMENT
C. GENERAL BANKING OPERATIONS
D. CLEARING DEPARTMENT
E. CREDIT DEPARTMENT
DEPARTMENT NAME TIME SPENT
(WEEKS) TYPE OF LEARNING ATTENDED OFFICER OBSERVATION & COMMENTS
CASH DEPARTMENT
01 WEEK
Receipts and payments of Cash and Receipt of Utility Bills
Mr.Ahmad Shiraz Saleemi,
Cash Officer Receipt & payment process of cash.
A tidy job which require extra ordinary care and tolerance
REMITTENCE DEPARTMENT
02 WEEKS
Entry of remittance instruments in the system & preparation of physical instruments
Mr Qasir Naeem Butt
Operation Manager Provision of services for remittance of money.
A sensitive job which demands extra care to safe guard the Institution’s financial interest apart from who availed the services from the Bank.
GENERAL BANKING OPERATIONS
06 WEEKS
1. Entry of debit, credit vouchers in the system.
2. Account Opening
3.Customer Care
4. On Line Banking
Mr Qasir Naeem Butt
Operation Manager Updating of daily routine working with respect to posting/journalizing the Dr/Cr entries in the system.
A wonderful job which updates the daily activities/transactions of their customers and other allied concerns of the unit in the relevant automation.
CLEARING DEPARTMENT
01 WEEK 1.Types of clearing
2.Lodgment of clearing
3.Representation of Dishonored cheques after the removal of past objection
Mr Qaisar Naeem Butt
Operation Manager
Perfectly Lodgement and on the realization of the amount by the other bank credited the customer’s A/C.
It’s a tough job if the banker makes a mistake in the Lodgement of Cheques and Cheque dishonor then he will be liable for this.
CREIDT DEPTT
01 WEEKS
Understanding of documentation of Credit Proposals
Glance at Financial Analysis of various SMEs
Waheed Ahmad
Credit Officer A good source of earning for the bank in conformity with the Institutional Credit Policy.
Requires proper expertise and dedication to safe guard the bank’s money lend to the public against security of paper/other collateral
EXPECTATIONS NOT MET BY CURRENT INTERSHIP PROGRAMME
- Inadequate duration of Internship
- Full knowledge of automation
- Inadequacy of proper seating arrangement for internees due to narrow banking operational hall.
ANALYSIS
While making an analysis of The Bank Of Punjab, as a financial institution, wefind that this institution came into existence in pursuance of Bank of Punjab Act,
1989 passed in the legislative Assembly of Province of Punjab. In the short span
Of about 15 years, it become the fifth largest bank in the county with 266
Branches net work all over the country.
While having an opportunity to go for internship at the branch, I have observed the following reservations:-
The Katchery Bazar branch is housed in small banking premises which does not
suffice the requirements of visiting clientele as well as corporate clients of the Bank. By having a glance over the current business of the branch, the same should immediately be shifted to some spacious building so that best banking services can be offered to the bank customers. Moreover, though the branch is automated yet required number of PCs etc has not been provided resultantly, the staff has to wait their turn to accomplish their daily job. Same case is with furniture of the branch which has almost completed its normal life and required immediate replacement.
LIMITATIONS
- To go for internship in Foreign Trade due to bank’s policy.
- Short term internship duration
REFERENCES AND RESOURCES
Oral:-
Much oral information was provided by Mr. Abdul Malik, Branch Manager and Mr. Qasir Naeem Butt Operation Manager, and
Mr. Ahmad Shiraz Saleemi, Credit Officer.
Written:-
o Annual Report
o Records
o Internet
7-Egerton Road, Lahore. The BOP was given the status of scheduled bank by the state Bank of Pakistan on September 19, 1994.
Authorized capital of The Bank of Punjab as on 31-12-2005 is RS.1,000,000,000/-(RS. 100,000,000 ordinary shares of RS. 10.00 each). Issued subscribed and paid up capital of the bank is RS. 157,500,000/-(RS. 15,750,000 ordinary shares of Rs.10.00 each fully paid in cash). Shares issued for consideration other than cash are Rs. 694,380,000/-(Rs. 69,437,976 ordinary shares of Rs. 10.00 each as fully paid bonus shares). So total paid up capital of the bank is Rs.851,880,000/- (rs. 157,500,000+694,380,000).
The bank of Punjab is listed at Lahore and Karachi Stock Exchanges. Fifty one percent (51%) of the share capital is held by the Government of Punjab and the rest is owned by Pakistani individuals/firms and foreigners.
The bank strives to be a world class financial institution working on modern lines. It aims at offering the financial markets of the global economy a unique system which would revolutionize the ethics and value system of the economic scenario of modern society.
NATURE OF THE ORGANIZATION
A unit of service industry of Pakistan, BOP (commercial bank) is engaged in the borrowing, lending and advancing of money, the drawing, making, accepting, discounting, buying, selling, collecting and dealing in bills of exchange, promissory notes, drafts, bills of lading, receipts, warrants, debentures, certificates etc.
It is also engaged in the buying, selling of foreign exchange including foreign bank notes, the acquiring ,holding, issuing on commission , underwriting and dealing in stocks, funds, shares, debentures, the negotiating of loans and advances , the receiving of all kinds of bonds, valuables on deposit or for safe custody.
The providing of safe deposit vaults the collecting, and transmitting of money and securities.
VISION STATEMENT
To be a customer focused bank with service excellence.
MISSION STATEMENT
To exceed the expectations of our stakeholders by leveraging our relationship with the Government of Punjab and delivering a complete range of professional solutions with a focus on programme driven products & services in the Agriculture and Middle Tier Markets through a motivated team.
BANK’S VALUES
Our Customers As our First priority
Integrity In all our Dealings
Excellence In Every Thing We Do
Respect Four customers and each other
Recognition and Reward For the talented and high performing employees
Profitability For the prosperity of our Stakeholders that allows us to constantly invest, improve and succeed
Corporate Social Responsibility To enrich the Lives of the Community where we operate
INTRODUCTION
THE BANK OF PUNJAB is working as a scheduled bank with its network of 266 branches at all major business centers in the country . Its registered Head Office is situated at 7-Egerton Road, Lahore. The bank provides all types of banking services. The majority shares(i.e.51%) of the bank are held by the Government of Punjab.
The bank has entered a new era of science and automation at the hands of its expert and professional management. The bank of plays vital role in the national economy through mobilization of hitherto untapped local resources promoting savings and providing funds for investment.
The bank offers attractive rates of profit on all types of deposits, opening of foreign currency accounts and handling of foreign exchange business such ad import and export and remittance, financing trade and industry for working capital requirement and money market operations. The lending policy of the bank is not only cautious and constructive but also based on principle of prudent lending with maximum emphasis on security.
DEPARTMENTS VISITED BY INTERNEE
A. CASH DEPARTMENT
B. REMITTENCE DEPARTMENT
C. GENERAL BANKING OPERATIONS
D. CLEARING DEPARTMENT
E. CREDIT DEPARTMENT
DEPARTMENT NAME TIME SPENT
(WEEKS) TYPE OF LEARNING ATTENDED OFFICER OBSERVATION & COMMENTS
CASH DEPARTMENT
01 WEEK
Receipts and payments of Cash and Receipt of Utility Bills
Mr.Ahmad Shiraz Saleemi,
Cash Officer Receipt & payment process of cash.
A tidy job which require extra ordinary care and tolerance
REMITTENCE DEPARTMENT
02 WEEKS
Entry of remittance instruments in the system & preparation of physical instruments
Mr Qasir Naeem Butt
Operation Manager Provision of services for remittance of money.
A sensitive job which demands extra care to safe guard the Institution’s financial interest apart from who availed the services from the Bank.
GENERAL BANKING OPERATIONS
06 WEEKS
1. Entry of debit, credit vouchers in the system.
2. Account Opening
3.Customer Care
4. On Line Banking
Mr Qasir Naeem Butt
Operation Manager Updating of daily routine working with respect to posting/journalizing the Dr/Cr entries in the system.
A wonderful job which updates the daily activities/transactions of their customers and other allied concerns of the unit in the relevant automation.
CLEARING DEPARTMENT
01 WEEK 1.Types of clearing
2.Lodgment of clearing
3.Representation of Dishonored cheques after the removal of past objection
Mr Qaisar Naeem Butt
Operation Manager
Perfectly Lodgement and on the realization of the amount by the other bank credited the customer’s A/C.
It’s a tough job if the banker makes a mistake in the Lodgement of Cheques and Cheque dishonor then he will be liable for this.
CREIDT DEPTT
01 WEEKS
Understanding of documentation of Credit Proposals
Glance at Financial Analysis of various SMEs
Waheed Ahmad
Credit Officer A good source of earning for the bank in conformity with the Institutional Credit Policy.
Requires proper expertise and dedication to safe guard the bank’s money lend to the public against security of paper/other collateral
EXPECTATIONS NOT MET BY CURRENT INTERSHIP PROGRAMME
- Inadequate duration of Internship
- Full knowledge of automation
- Inadequacy of proper seating arrangement for internees due to narrow banking operational hall.
ANALYSIS
While making an analysis of The Bank Of Punjab, as a financial institution, wefind that this institution came into existence in pursuance of Bank of Punjab Act,
1989 passed in the legislative Assembly of Province of Punjab. In the short span
Of about 15 years, it become the fifth largest bank in the county with 266
Branches net work all over the country.
While having an opportunity to go for internship at the branch, I have observed the following reservations:-
The Katchery Bazar branch is housed in small banking premises which does not
suffice the requirements of visiting clientele as well as corporate clients of the Bank. By having a glance over the current business of the branch, the same should immediately be shifted to some spacious building so that best banking services can be offered to the bank customers. Moreover, though the branch is automated yet required number of PCs etc has not been provided resultantly, the staff has to wait their turn to accomplish their daily job. Same case is with furniture of the branch which has almost completed its normal life and required immediate replacement.
LIMITATIONS
- To go for internship in Foreign Trade due to bank’s policy.
- Short term internship duration
REFERENCES AND RESOURCES
Oral:-
Much oral information was provided by Mr. Abdul Malik, Branch Manager and Mr. Qasir Naeem Butt Operation Manager, and
Mr. Ahmad Shiraz Saleemi, Credit Officer.
Written:-
o Annual Report
o Records
o Internet
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