Aamina Zulfiqar

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MCB Internship report
INTERNSHIP REPORT ON MCB BANK Limited

Internship Report submitted to the Faculty of Commerce &Accountancy in Partial Fulfillment of the Requirements for the Degree of Mater in commerce By:
Name of Student: Sana javaid Roll Number: 12052054-045

Date of Submission:15
september 2013
UNIVERSITY OF GUJRAT
Name of program coordinator----------------------------Signature of program coordinator--------------------------
Jan. 5
University of Gujrat
(G.T Road SciencesCampus)
Faculty of Commerce &Accountancy

Course Title: Internship (Report based on Internship) Course Code MGT-403
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2. ACKNOWLEGEMENT
With acknowledging the helping hands, this report seems like a candle without flame and light. In the very first, I am thankful to Almighty Allah, who guides me in darkness and helps me to cope with difficulties. I am thankful to my parents who supported morally to help me in completing my internship successfully. I am also thankful to Mr. Sallah-ud-Din Euuby(Branch Manager) who given me opportunity to learn the whole banking process practically. I am thankful to all the staff of MCB bank for their warm assistance and guidance during my internship period. I especially acknowledge to the following persons who support, motivate, encourage during my internship. I am thankful to my elder brother, Mr. Aamir for their motivation and encouragement during myAssociate Degree(Commerece& Finance) program.
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TABLE OF CONTENTS
ParticularsPage No.
Acknowledgement Executive summary Introduction to report History and background Nature of the Organization Purpose & Scope Vision Statement Mission Statement17 Our Values 18
04 05 09 10 16
17
Business Volunme19 Awards 21 22 27 29 30 33 34 35 35 36 36
Products and Services Pest analysis Contribution of MCB toward Economic development Management Committee Board Of Directors Management structure of MCB Organizational Hierarchy of MCB Management Levels Organizational set up of MCB Organizational structure of MCB
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Placing strategies of MCB Promotion strategies of MCB Fields of Activities Departments of MCB Clearing Process (Flow chart) Introduction of department Numers of Employes Duties of the Employees 49 38 39 42
37
43
60 60
Main Offices/ head office Comment on Organization Structure Internship Activities (a). Work Done By Me Introduction to the Report Weekly Time table Competitors of MCB Objective of organization on MCB General Banking Department Summary of learning Countrywide Branch Networ Swot Analysis Recommendations and suggestions Conclusion 64 66
63
67 68 69 70 74 77 78 79 80 82 85
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references
87
4. EXECUTIVE SUMMARY The banking structure in Pakistan comprises of the following types, State Bank of Pakistan, Commercial Bank of Pakistan; Exchange Banks, Saving banks, Cooperative banks, specialized credit institutions. The state bank of Pakistan is the Central bank of the country and was established on July 01, 1948. The network of bank branches now covers a very large segment of national economy. The State Bank of Pakistan issues the shares of these periodically. Bank employees and other common peoples can also purchase these shares and earn profit. MCB was incorporated under companies act 1913 on 9th July; 1947.The bank transferred its registered office to Karachi, where the Head Office is presently located. In April 1991, MCB became Pakistans first privatized bank. The bank has corporate branch at Shah rah-e-Faisal Karachi (SFK). The bank is using SWIFT for transfer of information about imports and exports. MCB SFK branch has Currently Following three Departments General Banking Department, Advances Department & Foreign Exchange Department. To open an account the customer has to meet the general banking manager with an introducer. The procedure begins with the punching of account opening form to the customer file i.e. customers master file. Before closing any account, bank send letter to the account holder for informing him that his account is going to be closed. In remittance department like any other bank MCB also have instruments for transferring of money, Telegraphic Transfer, Mail Transfer. In cash department both deposits and withdrawals go side by side. This department works under the accounts department and deals with cash deposits and payments. This department maintains the following sheets, books, and ledger of account cash received voucher sheet Cash paid voucher sheet, Paying-in-slip, Cheque Book, Cash balance book. The clearing in Karachi at MCB or other banks is being done through NIFT (National Institute of Facilitation Technology).
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5.1 Introduction to the Report
The basic purpose behind the preparation of an internship report is to make the student job down the experiences of the internship and discuss the understanding of the operations of the organizations.
The following pages discuss my experiences at MCB, Circular Road Branch. Nevertheless, before I proceed, I would like to mention that the experience of working in a small, newly established branch was in itself a treat. All the employees were extremely cooperative and accommodating. It was for the first time that the branch had the experience of interns and as much as I was learning, all the employees under whom I worked were learning from the experience as well.
5.2.1 HISTORY AND BACKGROUND
MUSLUM COMMERCIAL BANK: Background of MCB Before separation of Indo Pak, the need for more Muslim banks was felt. And Muslims having strong financial capacity were thinking to invest in this sector as well. This was the idea which paved the way for setting up MCB Bank Ltd known as MCB. This was the third Muslim bank in
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the subcontinent. History This bank was incorporated under companies act 1913 on 9th July, 1947 (just before partition) at Calcutta. But due to changing scenario of the region, the certificate of incorporation was issued on 17th August, 1948 with a delay of almost 1 year; the certificate was issued at Chittagong. The first Head office of the company was established at Dacca and Mr. G.M. Adamjee was appointed its first chairman. It was incorporated with an authorized capital of Rs. 15 million. After some time the registered office of the company was shifted to Karachi on August 23rd, 1956 through a special resolution, now recently the Head office of MCB has been transferred to Islamabad in July, 1999 and now Head office is termed as Principle Office. This institute was nationalized with other on January 1st,1974. At that time it had 506 branches and deposits amounting to Rs. 1,640 million. Although. MCB has a reputation of a conservative bank but nationalization also left its effects on this institute as well and by end of year 1991 in which it was privatized the total number of branches were 1.287 and deposits amounting to as high as Rs. 35,029 million. Privatization When privatization policy was announced in 1990, MCB was the first to be privatized upon recommendations of World Bank and IMF. The reason for this choice was the better profitability condition of the organization and less risky credit portfolio which made'' it a good choice for investors. On April 8th, 1991, the management control was handed over to National Group (the highest bidders). Initially only 26% of shares were sold to private sector at Rs. 56 per share. After privatization Ten years after privatization, MCB is now in a consolidation stage designed to lock in the gains made in recent years and prepare the groundwork for future growth. The bank has restructured its asset portfolio and rationalized the cost structure in order to remain a low cost producer.
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After privatization, the growth in every department of the bank has been observed. Following are some key developments: Launching of different deposit schemes to increase saving level. Increased participation on foreign trade. Betterment of branches and staff service level. Introduction of Rupee Traveler Cheques & Photo Credit Card for the first time in Pakistan. In short MCB is one of the leading banks of Pakistan with a deposit base of about Rs. 280 billion and total assets of around Rs.300 billion. Incorporated in 1947, MCB soon earned the reputation of a solid and conservative financial institution managed by expatriate executives. In 1974, MCB was nationalized along with all other private sector banks. This led to deterioration in the quality of the Banks loan portfolio and service quality. Eventually, MCB was privatized in 1991. During the last fifteen years, the Bank has concentrated on growth through improving service quality, investment in technology and people, utilizing its extensive branch network, developing a large and stable deposit base and managing its non-performing loans via improved risk management processes.
NATIOINALIZATION: In January 1974, the government of Pakistan nationalized MCB following the banks (Nationalization) Act 1974, subsequently, in June 1974, Premier Bank limited merged with MCB.
BussinessVolume
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MCB Bank Ltd Commercial Bank)
(Formerly
Muslim
Type Founded
Private 1947 Registered Office: Islamabad, Principal Office: Karachi Pakistan Mian Mohammad Mansha (Chairman) Banking Capital Markets Loans, Credit Cards, Savings, Consumer Banking etc. PKR 31.787 Billion (2007)[1] PKR 15.266 Billion (2007)[1] www.mcb.com.pk
Headquarters
Key people
Industry
Products
Revenue Net income Website
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MCB BANK TODAY MCB today, represents a bank that has grown with time, experience and Pakistan. A major financial institution, in scope and size, it symbolizes a fully growing tree evergreen, strong, and firmly rooted. Foreign trade: The bank conducted import business during the year amounting to RS. 54.0 billion as compare to RS. 56.4 Billion In 2005. The export business slightly improves to RS. 36.9 Billion From RS. 35.1 Billion. In 2006. Home remittances decline to RS. 16.7 Billion From 30.7 Billion the decline in home remittances business was due to freezing of Foreign Currency Accounts, which has affected the confidence of Pakistanis working overseas. Year 2006 compliance: MCBs strength lies in providing a technological base at the gross root level of the society with a challenge to educate and assimilate such systems across vast cultural and economic backgrounds. With over 768 automated branches, 263 online branches, over 151 MCB ATMs in 27 cities nationwide and a network of over 16 banks on the MNET ATM switch, MCB continuously innovates new products and services that harness technology for the customers benefits. MCB PHILOSOPHY :MCB Bank knows the best to deal with its customers and thus has a customer oriented philosophy. The MCB philosophy in their words is described below For us, you are not just a set of numbers; you are a valued customer whom we know byname. 5.2.2 Nature of the Organization Concludes that the nature of organizations, as in all spheres of activity involving humans, is to have unwritten rules and procedures of the game. Cites a global consumer products company whose three top-level policies are listed out in full. Spotlights a Figure showing written rules to damaging behaviour.Highlights, in a shaded box, the rules of the game appraisal, with six steps. Concludes unwritten rules cannot and should not be eliminated but do need to be brought back into step with the game's written rules. The nature of data, information and knowledge exchanges in business processes: implications for process improvement and organizational learning
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The business: MCB is in its over 50 years of operation. It has a network of over 1,000 branches all over the country with business establishments in Sri Lanka and Bahrain. The branch break-up province wise is Punjab (57%), Sindh (21%), NWFP (19%) and Baluchistan (3%) respectively. MCB has an edge over other local banks, as it was the first privatized bank. The State Bank of Pakistan has restricted the number of branches that can be opened by foreign banks, an advantage that MCB capitalizes because of its extensive branch network. Fifteen years after privatization, MCB is now in a consolidation stage designed to lock in the gains made in recent years and prepare the groundwork for future growth. The bank has restructured its asset portfolio and rationalized the cost structure in order to remain a low cost producer. The Bank provides 24 hour banking convenience with the largest ATM network in Pakistan covering 27 cities with over 151 ATM locations. The Banks Rupee Travelers Cheques have been market leaders for the past six years and have recently launched their Gift Cheque Scheme. MCB looks with confidence at year 2008 and beyond, making strides towards fulfillment of its mission, "to become the preferred provider of quality financial services in the country with profitability and responsibility and to be the best place to work". A major achievement of MCB is that the state bank of Pakistan has issued a license to MCB to start Islamic banking. Now MCB is setting up a 1st Islamic banking branch at 1st floor shaheen complex, Karachi. Purpose and scop of internees in MCB PurposeInternship is the capstone experience that provides me with hands-on, real-world experience in a work setting. Ideally, internship will enable interns to: (a) integrate and use my knowledge and skills from the classroom, (b) discover where further competence is needed,
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(c) take steps to gain that competence under educational supervision, and (d) become better acquainted with the types of work settings in which such competence can be applied. Scope This study will facilitate the students regarding the working of Banking sector of Pakistan because most of the teachers during their lectures use the examples of Banks like MCB, National Bank, UBL, Bank Alfalah and many others, students should study this report so that they must grasp the functioning of such Banks. Objectives :I worked as an internee in MCB Circular Road. The main objectives to study in MCB were: To get some experience in working with well reputed organization. To gain knowledge about the professional environment of the bank. To know about the technology utilized in the banks. To deal and manage with the situation of stress.
Research Methodology There are mainly two methods that are used for the collection of data. Primary Data: Observation of functions of Branch operations on the spot. Observation of different processes of Branch on the spot.
Secondary Data: .Different type of booklets of the Bank. Annual reports Journals
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Newspapers Internet is very helpful for me to study more about banking sector of Pakistan Summary
This is the first chapter of the report containing the detail introduction of the report. Internship training program during Master in Business administration Program is necessary for the partial fulfillment of the completion of Degree of Master in Business Administration. Internship will enable interns to integrate and use my knowledge and skills from the classroom. This study will facilitate the students regarding the working of banking sector of Pakistan.For achieving my purposes, objectives and for the preparation of the internship report I required some kind of data, I used both methods of data collection that are primary sources and secondary sources for that purpose.
Challenging and Changing the Way you Bank.
MCB Banks team of committed professionals is dedicated to maintaining long term customer relationships through outstanding service and convenience.
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Overall organization and functions of organization in Pakistan: MCB is one of the leading banks of Pakistan with a deposit base of about Rs. 280 billion and total assets of around Rs.300 billion. Incorporated in 1947, MCB soon earned the reputation of a solid and conservative financial institution managed by expatriate executives. In 1974, MCB was nationalized along with all other private sector banks. The Bank has a customer base of approximately 4 million, a nationwide distribution network of over 1,000 branches and over 450 ATMs in the market. During the last fifteen years, the Bank has concentrated on growth through improving service quality, investment in technology and people, utilizing its extensive branch network, developing a large and stable deposit base. OUR VALUES Trust: We are the trustees of public funds and serve with integrity & commitment. Ethical behavior is of critical importance to us. We adopt full compliance with internal and external policies and procedures, operating within the legal framework. Customer focus: We continuously seek to exceed our customers expectations, forging and maintaining long term relationships. Innovation: We strive to be the market leaders in innovative products and services offering customized financial solutions with flawless execution. Teamwork:
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The diversity of our people is our strength. We inspire and challenge each other working together to achieve synergy. Achievement: Our people are our most valuable asset. We are committed to a result oriented culture. Our goals are clear and merit is the only criterion for reward. Social responsibility: As responsible citizens we contribute to the social welfare of the community we live in.
5.2.3 Business volume Business volume in terms of Revenue, Assets, Deposits, Advances and Investment is as under. o Total Revenue (Interest Income + Non Interest Income)
Years Total Revenue
2009
12,017,858
2008
12,417,459
2007
12,824,663
2006
8,483,996
2005
6,907,542
Total Revenue
15,000,000 10,000,000 5,000,000 -
Years
09
08
07
06
05
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Business Volume
Year Total Assets Deposits Advances Investments Share holders 'equity Pre-tax Profit After-Tax Profit Earnings per Share Rs. Number of Branches Number of employees Awards of MCB:
2010 1,035,025 832,152 477,507 301,324 103,762 24,415 17,563 13.05 1289 16457
2009 944,583 727,465 475,243 217,643 94,142 21,300 17,562 13.05 1,287 16,248
2008 817,758 624,939 412,987 170,822 81,367 23,001 15,459 11.49 1,276 15,441
2007 762,194 591,907 340,319 211,146 69,271 28,061 19,034 14.15 1,261 14,079
2006 635,133 501,872 316,110 139,947 53,045 26,311 17,022 12.65 1,250 14,019
MCB has become the only bank to receive the Euromoney award for the seventh time and Asiamoney award for fifth time in the last ten years. MCB won Best Bank in Asia award in 2008. MCB also won the "Best Bank in Pakistan" award in 2008, 2006, 2005, 2004, 2003, 2001, 2000. In addition, MCB also has the distinction of winning the Asia Money award in 2009, 2008, 2006, 2005 & 2004 for being "The Best Domestic Commercial Bank in Pakistan".
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Present Status: In 2007, MCB reported a profit after tax of PKR16.4 billion (US$270 million) and generated a return on average equity of 38% and a net interest margin of 8.08%. The Banks asset quality is strong with a gross NPL ratio of 4.7% and provision coverage of 100%. During the last fifteen years, the Bank has concentrated on growth through improving service quality, investment in technology and people, utilizing its extensive branch network, developing a large and stable deposit base and managing its non-performing loans via improved risk management processes. AWARDS Euromoney Awards and the Asia Money Awards. MCB won Best Bank in Asia award in 2008. MCB also won the "Best Bank in Pakistan" award in 2008, 2006, 2005, 2004, 2003, 2001, 2000. In addition, MCB also has the distinction of winning the Asia Money award in 2009, 2008, 2006, 2005 & 2004 for being "The Best Domestic Commercial Bank in Pakistan". BEST BANK IN PAKISTAN AWARD 2003 BANK IN PAKISTAN AWARD 2002 BANK AWARD 2000 BEST ASIA MONEY AWARDS THE BEST DOMESTIC COMMERCIAL BANK AWARD 2005 THE BEST DOMESTIC COMMERCIAL BANK AWARD 2004 BEST DOMESTIC
5.2.4 Product/Services Consumer (personal) banking: The products and services offered by MCB as a consumer bank are as follows: 1. Online services
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i. ii. iii. iv. v.
ATMs Mobile Banking Call Centre Bill Payments Virtual Banking
2. Accounts i. ii. iii. iv. v. Khushali Bachat accounts Pak Rupee Accounts Saving Accounts Basic Banking accounts Foreign Accounts
INTRODUCTION OF ACCOUNTS CURRENCY OF ACCOUNTS: Pak Rupee US Dollars Ponds Euro In cases where balance remains zero All accounts can be opened in Pak Rupees NATURE OF ACCOUNT: Saving Account Current Account Basic Banking Account Khushali Bachat Account Enhanced Saving Account Foreign Currency Accounts Saving Account Average balance of 10,000/- is required Average balance of 500/- is required
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Profit is paid on a half yearly basis Cash deposit and withdrawal facility Withdraw cash through Pakistans largest ATM network. Use account to pay their bills 24 hours a day, 7 days a week. Rs 50/- or 5/- if it is in other Currency will be charged Current Account Average balance of 10000/- is required Average balance of 500/- is required Cash deposit and withdrawal facility Withdraw cash through Pakistans largest ATM network. Use account to pay their bills 24 hours a day, 7 days a week. Basic Banking Account: Account has been introduced to facilitate the low income group Account is a current and can be opened with a minimum initial deposit of Rs. 1000/only. Account holders will be allowed 4 withdrawal transactions (cash or clearing) each month. No minimum balance maintenance requiremen Khushali Bachat Account: Minimum Rs 2500/- is required Profit is paid on account on a half yearly basis. Withdraw cash through Pakistans largest ATM network. Account holdersEnhanced Saving Account Enhanced Saving Account
Can be opened with a minimum deposit of Rs.5,000 Profit calculated on an average balance maintained by customer during that month. Following slabs used for profit calculation: If Average Balance > Rs. 20,000: PLS rates will apply. If Average Balance < Rs.20,000: 4.0% p.a.
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The rates mentioned above are expected and shall be revised at least every six months. will be allowed 4 withdrawal transactions (cash or clearing) each month. CLEARING It is a process where different instruments are sent for clearance if they are other than the existing branch of Bank and come for clearance from different branches or banks.
TYPES OF INSTRUMENTS: Following instruments can be presented at the clearing department: Cheques Demand drafts Pay orders FDD
TYPES OF CLEARING: Intercity Clearance: When a cheque comes for clearance that is outside the range from Kamoki to Khariyan. It will be under the intercity clearing. This type of clearing has some charges. Local Clearance: When a cheque comes for clearance that is inside the range i.e. Kamoki to Khariyan. It will be under the local clearing. This type of clearing is free from all charges. 3. Loans i. ii. iii. iv. Business Sarmaya Personal Loan Pyara Ghar Car4U
4. Cards i. ii. Smart Card / Debit Card MCB Visa
5. Traveler's cheque i. Rupee Traveler's cheques
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ii.
Gift Cheques CHEQUES
Name of the Bearer Date Amount in Words and Figure Three signatures or thumb impressions
TYPES OF CHEQUES Open Cheques By Name Cheque Self Cheque Order Cheque Crossed Cheques
6. Remittance i. Overseas Remittance
7. Branches & ATMs i. ii. iii. ATMs Locator Online Branches Branch Network
8. MNET switch i. M NET Switch
REVOLUTIONS IN MCB Incorporated in Calcutta, India on 9thJuly 1947 First chairman Mr. G.M Adamjee office was shifted to Dhaka in Augu1948 Head
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Head office was shifted to Karachi in august 1956 Nationalized on 1st January 1947 Privatized on 8thApril 1991 Fist chairman after privatization Mr. MianMuhammad Mansha Head office transferred to Islamabad 1991 5.2.5 PEST ANALYSIS A broad view of market is important when management is interested in introducing better services for customers. Rapid technological change, global competition and the diversity of buyers preferences in many markets require the constant attention of the market vouchers to identify promises business opportunities, see the shifting requirements of the buyers, evaluate changes in competitors positioning and guide the choice of which buyers to target and classify them according to respective segments. Identification of external and macro factors that
influence buyers and thus change the size and composition of market overtime involves initially building customer profiles. These influences include: Political and legal environment Economic trends Socio cultural environment Technological factors POLITICAL AND LEGAL ENVIRONMENT: Banks are strongly affected by the political and legal considerations. This environment is composed of regulatory agencies and government law that influence and limit various organizations and individuals. Mostly these laws create new opportunities for business. Business legislation has following main purposes o To protect banking companies from unfair competition. o To protect consumers from unfair business practices adopted by banking companies o To protect the interest of the society from unbridled business behavior.
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The political situation of Pakistan is not satisfactory. Due to the rapid change in the Government every government sets its own new trade policies.Govt should apply sustainable policies for the beneficial of the exporters as well as the investors ECONOMIC TRENDS: A banking market requires better consumer market in volume along with higher borrowing power. The available borrowing power depends on: o Consumer income o Saving rates o o o o o o Consumption patrons Rates of interes Budget deficit Exchange rates Cost of living Inflation SOCIO-CULTURAL ENVIRONMENT: A society is shaped by beliefs, norms and values. People in a society consciously and
unconsciously interact with: Themselves Others Organization Society The
change in the lifestyle of the people affects the growing demand of the NTM products. The change in the lifestyle and needs in different demographics also affect the demand of the customers. TECHNOLOGICAL FACTORS: Forces of technological advancement have played the most dramatic role in shaping the lives of people. The rate of change of technology has greatly affected the rate of growth of economy. New technology is creating deep rooted affects which could be observed in long run. The improvement techniques involved in on line banking. In brief PEST analysis affects the overall banking companies and provides us the information about the
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external macro condition.
Technological advancement in all the sectors of the country
has changed the entire socio-economic environment. Especially in the textile sector there is a lot of technological development. 5.2.6 Contribution of MCB toward Economicdevelopment MCB Bank is one of the leading financial services provider in Pakistan and as one of the largest and oldest banking corporations in the country; we not only embrace our heritage and traditions, but strive for growth and change. Our goal is to create and nurture long term relationships with our customers by catering to all their financial needs, including traditional banking services, insurance and investment advisory, coupled with the highest level of customer service. Our bottom line is to ensure that we have motivated, professional and customer-centric employees on board who help us deliver this promise of becoming the best in class across the industry. MCB we inspire every individual to play a significant role in our continued success by creating Maximum economic value for our clients and shareholders, while maintaining the highest human Values and principles. Utility of the commercial banks in the promotion of national economy was of paramount importance and sound banking system ensured stability of the economy. The bank worked under a set mechanism. Economic report In the past five financial years, post September 11, Pakistans economy has experienced the longest spell of its strongest growth in years. Different schools of thought exist regarding.
5.3.Organization structure Overall organization and functions of organization in Pakistan: MCB is one of the leading banks of Pakistan with a deposit base of about Rs. 280 billion and total assets of around Rs.300 billion. Incorporated in 1947, MCB soon earned the reputation
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of a solid and conservative financial institution managed by expatriate executives. In 1974, MCB was nationalized along with all other private sector banks.The Bank has a customer base of approximately 4 million, a nationwide distribution network of over 1,000 branches and over 450 ATMs in the market.During the last fifteen years, the Bank has concentrated on growth through improving service quality, investment in technology and people, utilizing its extensive branch network, developing a large and stable deposit base.TheOrganisational Structure Design would be the most important thing that one should work on. The Structure design should be able to take care of defining the basic levels based on the criticality of the work performed.The levels in the organisation can be ensured to create the value to the organisation as it moves higher. For Example: Team Member Level in organisation should have a focus execution of the task as assigned and report back. Whereas the Top Management role would include identification of the futuristic and create a focus for achieving the organisationalTargets.
BOARD OF DIRECTORS
MANAGEMENT STRUCTURE OF MCB BOARD OF DIRECTORS Mian Mohammad Mansha Chairman
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S.M. Muneer Dr. Muhammad Yaqub Mian Umer Mansha Shahzad Saleem Sheikh Mukhtar Ahmed Tariq Rafi Sarmad Amin Atif Yaseen Mohammad Aftab Manzoor Advisor: Raza Mansha Audit committee: Dr. Muhammad Yaqub Tariq Rafi Mian Umer Mansha Aftab Ahmad Khan Chairman Member Member Member
Vice Chairman Director Director Director Director Director Director Director President & Chief Executive
Chief financial officer: Ali Munir Secretary:
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Tahir Hassan Qureshi Auditors: KPMG Taseer Hadi & Co. Chartered Accountants Riaz Ahmad & Co. Chartered Accountants Legal Advisor: Mandviwalla & Zafar Advocates & legal consultants Shariah Advisor: Dr. Muhammad Zubair Usmani Registered Office: MCB building, F-6/G-6 Jinnah Avenue, Islamabad Office: MCB towerchudrigar road Karachi Registrar and Share Registration Office:Shares department, ground floor sheikh sultan trust building no 2, Beaumont road Karachi. PLACING STRATEGIES OF MCB BANK The location of the bank plays a vital role in making its operations profitable. If the bank is located in some business center then it will be very easy for it to attract business people as its Organization Structure Principle
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customers. Therefore MCB has most of its branches at places where it can reach its targets customer easily. The branch network of MCB is given as follows: PROMOTION STRATEGIES OF MCB BANK MCB Bank is actively participating in promotion of its products and services through advertisement and other promotional schemes. Initially, the bank focused on the upper class customers only and offered products for a limited class of people. But now the strategy has been changed and the bank is now targeting the middle market also. The products offered are of diverse nature to cater the needs of maximum number of people. Customer oriented attitudeMCB Bank values its customers. Customers
complaints are encouraged because it gives an opportunity to know the needs of the customer and build more confidence in them.Most of the promotional efforts are done through Direct marketing Public relations
MCB bank sometimes gets suggestionsand recommendations from its good customers. Branch layout is being designed in such a way that more and more customers are attracted. Some of the branches of MCB Bank have a very good entrance and outlook but many still need to be improved. FIELDS OF ACTIVITIES The purpose of banks is to provide some services to the general public. And for this purpose different banks provide different Place Punjab Sindh NWFP Baluchistan Azad Kashmir Domestic Overseas Total No. of branches 632 232 123 34 19 1040 4 1045
services to the people in different forms. The MCB Bank is a
commercial bank, in modern time commercial banks play a very
important role and their functions are manifold. The main functions and
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services which MCB Bank Limited provides to different peoples are as follows. 1) Open Different accounts for different peoples 2) Accepting various types of deposits 3) Granting loans & advances 4) Undertaking of agency services and also general utility functions, few of those are as under Collecting cheques and bill of exchange for the customers. Collecting interest due, dividend, pensions and other sum due to customers. Transfer of money from place to place. Acting an executor, trustee or attorney for the customers. Providing safe custody and facilities to keep jewellery, documents or securities. Issuing of travelers cheques and letters of credit to give credit facilities to travel.
For proper functioning of branches and the over all bank has been divided in different departments. These departments handle different jobs so that division of work is there for improvement of functions and also it is easy to control the situation. The general division in a branch is as follows: 5.3.1 ORGANIZATIONAL HIERARCHY OF MCB
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ORGANIZATIONAL STRUCTURE OF MCB As MCB is a banking company listed in stock exchange therefore it follows all the legalities which are imposed by concerned statutes Mr. Muhammad Mansha is chairman & chief executive of the company with a team of 10 directors and 1 vice chairman to help in the business control and strategy making for the company. Operational Management of the bank is being handled by a team of 10 professionals. This team is also headed by Mr. Muhammad Mansha. The different operational departments are Consumer Banking & IT div; Financial & Inter branch div; Banking operations div; HR & Legal div; financial control & Audit div; Credit management div; Commercial Banking div; Corporate Banking div; Treasury management & FX Group and lastly Special Assets Management (SAM) Group. For effective handling of branches, it has been categorized into three segments with different people handling each category. These categories are: a) b) c) Consumer Banking Corporate Banking Commercial banking
a) Consumer BankingThese are the branches which have exposure up to Rs. 20 million and these include all the branches which are neither corporate nor commercial branches. Recently the organizational structure was re-designed as follows: Province wise branches Consumer 637 branches Corporate 20 branches Commercial 383 branches
b) Corporate Banking
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These are branches which have an exposure of over Rs. 100 million. Usually includes multinational & public sector companies. c) Commercial Banking The branches which has a credit exposure of less than Rs. 100 million but having a credit portfolio of more than Rs. 20 million (excluding staff loans) Usually branches in large markets and commercial areas come under this category. How toopen anaccount DEPOSIT SLIPS Date Account Number Title of account Amount in figures and words Mention of Currency Any instrument number Signature
TYPES OF DEPOSIT SLIP Current Account Deposit Slip PLS Saving Deposit Slip
Cheque book issue form
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1. ACCOUNT OPENING DEPARTMENT Account opening and closing is the function of accounts departments. Banks customers may be individuals (Single or Joint), firms (partnership/proprietorship), Autonomous corporations, Limited Companies, Charitable Institutions, Associations Educational Institutions or Local Bodies. Basics to open an account During the span of my internship in MCB, I learned and observed a lot about the opening of an account. Basically I think that the opening of an account is the establishment of a contractual relationship between the banker and the customer. By opening an account at a bank a person becomes a customer of a bank. Further I am going to express the basic requirements and steps involved in the opening of an account. Introduction and preliminary investigation Before opening an account MCB as like the other banks in Pakistan ascertain whether or not the person who is going to open the account is a desirable customer or not. Then MCB determine the prospective customers integrity, respectability, occupation and t he nature of business by the introductory references given at the time of account opening. How to open an account (General):Before opening an account in MCB I observed that the following points must be considered in this regard. Another account holder of the bank should properly introduce the new customer.
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The account holder should sign the account opening form in the presence of bank officer and the signature is duly verified. A copy of computerized national identity Card is required by Bank. Against submission of the Banks prescribed application form, duly introduced in the manner provided and on supplying such document, as may be required and account may be opened. The Bank reserves to itself the right to refuse to open and account without assigning any reason.
Each account shall be allotted a distinct number that is to be quoted in all correspondence with the bank relation to the account. Minimum amount for opening and continued maintenance of various types of accounts is as follows:
Rs. Saving 500 Current Term Deposit 1000 The bank reserves the right to change the above mentioned minimum balance requirement at any time without any notice. Procedure to open an accountAccording to my practice in MCB, when a customer wants to open an account, the bank officer gives him an application form. All information, which is necessary to be known by the bank, are requirements of the application form. Form also requires the essential documents to be attached by the customer. Basically following information is required to open an account with MCB. Title of Account Full Name of Applicant Occupation Address 500
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Telephone No. Currency of account Nature of Business Introducers Name, Address & Signatures Special instruction regarding the account Initial Amount of the Deposit Signature of the applicant
Special signature card: Customer fill this card in your CNC no and signiture
Apply FOR ATM CARD For getting ATM Card Customer should mention it in Account Opening Form. ATM Card application by customer is given to the Head Office. After one week his/her ATM Card and Pin Card will be sent by the Head Office.
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Documents to be attached Further I learned that if you wanted to open an account with MCB then you should attach the following documents with your application form which are different for different categories. Sole proprietors account In order to open an account with MCB Sole Proprietors have to submit their business registration certificate number. Private / joint account For individual or private or joint accounts Computerized National Identity Card is required. Joint stock company Before an account of a Public Limited Company is opened MCB must ask the person authorized to do so to submit the certified copies or the following documents Certified true copy of the Memorandum and Articles of Association of the company. Certified true copy of the resolution of the board of directors / managing committee / governing body regarding conduct of the account. Certified list containing names and signatures of the directors / office bearers. Certified true copy of the certificate of commencement of business (in case of public limited companies). Balance Sheet I.D. Card copy of each director
Partnership firm account
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Information which is required to be submitted to MCB by a partnership firm in this case is as follows: Full Names Address Specimen of signatures of the partners Certified true copy of partnership deed Registration No. if the Partnership is registered
Societies / clubs and associations account MCB is authorized to open the accounts of the societies/clubs and associations, These are nontrading organizations, formed for the promotion of culture, science, education, recreational activities and charitable purposes etc. some of these institution are registered under the Societies Registration Act, 1866, and are issued a certificate of registration after they have been found fit for registration. Clearing process (Flow Chart)
Cheque with slip given
Slip is asked & filled
Cheque along with slip checked, signed & received by officer Entries in daybooks are made
Entries checked & verified by another officer after banking hours by officer Cheques collected at the day end by Main Branchs Officials Cheques are sent to respective banks next day after posting in computer by Main Branch
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The same day not honored cheques are returned to Main Branch The day after tomorrow the banks are informed about dishonored cheques
Provisional entries for returned cheques are debited again in both computer & daybooks
Party is informed about returned cheques through Phone or personal contact
Cheques are mailed through TCS in case of no personal contact the same day (If there is any availability)
5.3.4 Introduction of department The departments of MCB are: 1. Cash department 2. Deposit department 3. Clearing department 4. Advances department 5. Remittance department 6. Foreign exchange department 7. Technology department (new addition in order to cop with the growing needs of day to day technology requirements) There are three main departments in any branch of MCB GENERAL BANKING FOREIGN EXCHANGE ADVANCES/CREDIT
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GENERAL BANKING General banking deals with following services: REMITTANCE It is transfer of funds. Funds can be transferred in shape of pay orders, demand draft, mail telegram and telegraph transfer. Payments of fees of different organizations, fulfillment of tenders, and collection of funds are the main functions of remittance. Maximum part of general banking depends on this department.Issuance of different kinds of remittance: PAY ORDER Pay order is the property of person/company that has to take the benefit of the amount being pay ordered by the concerned person. Pay orders are made for the payment of fees, tender or issued for the payments of dealings. These are required for the proof of payments made between the bank and the customer in the favor of beneficiary. These are noted in printed block letters and yearly serial numbers are issued from computerized system. DEMAND DRAFT Demand drafts are made for the beneficiary for payments, funds etc, these are made for outstation branches of the concerned banks. An advice is also made for the confirmation of the draft send. These are also approved and safe way of sending amount to the beneficiary. These are also noted by computerized system and a serial number is issued from the computer system. MAIL TRANSFER Mail Transfer is made with in the city for transfer of amount. An advice is also made for the confirmation of the draft send. These are also approved and safe way of sending amount to the beneficiary. These are also noted by computerized system and a serial number is issued from the computer system. TELEGRAPHIC TRANSFER Telegraph Transfer is telegram message for transferring the amount from one branch to other branch. A message advice and a confirmation advice both are made with TT numbers that are issued for TEST. TEST depends on two steps:
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1. First TEST is on Day, Date and Code Number of branch. 2. Second TEST is on Currency, whether Pak rupees or foreign currency, amount and TT number issued from manual registers and confirmed from computerized system. PAYMENT OF PAY-ORDER AND DEMAND DRAFT Pay-Order and Demand Draft both could be paid in shape of physical payment of cash and in case transfer of amounts; the amount could be transferred in the beneficiary account. In case of physical payment authorized signature of beneficiary are taken for the proof of amount being paid to him and in case of transferring of amount authorized signature of the beneficiary are checked and verified for reducing risks. CANCELLATION OF PAY-ORDER AND DEMAND FRAFT Any type of Pay-Order / Demand Draft is cancelled by the permission and instructions made by the beneficiary. The customer could only cancel the pay order/ demand draft as the verified signatures of beneficiary are present on the advice. VOUCHERS Vouchers are made for records and they should be completed in all respects, the amount, date, its head, particulars, amount in words, authorized signatures and contra advice or voucher should be present. Vouchers are advice either debit or credit slips. They are contra of each other. If any voucher of debit is passed its contra credit voucher should also be passed for the balancing of accounts, their respective sheets. INWARD CLEARING It depends on those checks that are cleared inter branch and with in the city. As the concerned branch receive any type of clearing check first of all physical checking is taken place. For clearing procedure there should be two days margin. These cheques have their vouchers and the amount of the cheque and voucher should be identical. Than these cheques are stamped and noted on receiving sheet as well as feed in to the computerized system.
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OUTWARD CLEANING It depends on those cheques that are cleared out side the city. For outward clearing cheques are send because the home branch has there accounts but checks are of other banks. Contras of these cheques are vouchers that are recordrd in the home branch. ISSUANCE OF CHEQUE BOOKS Any account holder that has opened the account he/she could credit his/her account and for this purpose there should be a cheque book, so he/she could be able to credit the needed amount whatever he/she wishes. For the issuance of the cheque book a person is advised to fill a requisite slip with his/her full names and the account number with two verified signatures. These signatures are checked and then another requisite slip prepared by the bank staff send to the NIFT, and it issues the printed cheque books after completion of the procedure in two or three days.Account holder can take it by singing on the issuance register or if the absence of the account holder another person could also take the cheque book only if he/she has authorized signature of the account holder. When the cheque books are issued they are feed in the computer system from the requisite slip so when the cheques are given for the credit/transfer of amount they could checked. In this way neither the cheques could be repeated nor could the invalid cheques be claimed. ISSUANCE OF ATM CARDS Head office issues ATM (Auto Teller Machine) cards with their PIN (Personal Identification Number) codes and when the customer claims for their ATM card they are checked from the list that is also issued from the head office, and the claim is checked from the list and if the name is found than the cards are issued by taking a signature and their PIN codes are given to them by taking signatures on their ATM card forms. The ATMcard has been activated by the number provided at or with the specific card. CANCELLATION OF ATM CARDS The Cancellation of ATM Cards becomes necessary in the following conditions: If folded or damaged Stolen
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PIN code missed or forgotten Card captured by the machine and expired If requested by the customer The cancellation or inactivity of the card is being processed by the request or instructions provided from the customer.
AMOUNT, RATE, NUMBER OF DAYS / 365 DAYS Profit is calculated for the six months only for outstanding SND. Zakat is also deducted but if Zakat deduction form is submitted to the bank, no Zakat will be deducted then, 10% with holding tax is also deducted from the profit to calculate net profit. CALL DEPOSIT It is highly liquid instrument, it can be cashed at any time when needed. This instrument bears no profit on it. It is mostly used for the purpose of tenders. FOREIGN EXCHANGE LCS ESTABLISHMENT Any company can provide its documents containing e-form, bill of lading, short shipment notice in case of short shipment, packaging list etc. the information provided from the documents is recorded in the LC establishment portion or section in the computer. PAYMENT OR RETIREMENT When the transactions have been completed then approved documents from the concerned bank are sent to the home bank for the payment or retirement of the LC.These transactions have recorded in the payment or retirement section of the computer. FOREIGN CURRENCY DEPOSITS The Foreign Currency Deposit relates with the foreign currency accounts, cash deposit or credit and foreign remittances. FOREIGN REMITTANCES In this we received the messages through SWIFT for foreign remittances, which we record in their respective accounts, if these are relates with Pak rupees than it was
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transferred in Pak rupees with the latest rate and if this relates to the foreign currency than it is dealt with accordingly. The amount has been credited to the respective account and the head office has been debited against it. After crediting the amount to the respective account. All the subsequent entries have been made in the registers and also in the computer record as the system now have been upgraded on computers. As we are reporting daily to the head office, so an annexure has been maintained and faxed to the head office. ADVANCES / CREDIT This department deals with the approval of different kinds of loans to different business entities. The loans, which are being approved by the department, are kept with some securities such as bonds, properties and any other type of asset, which is equally valuable or more than this as a guarantee. Every branch has its own limit, if the amount of loans is with in the limit of the branch then it is being approved by the branch but if the amount of loan is exceeding the limit then it has to make it approved by the head office. In this case the branch stored all the required papers and sent them to the head office for necessary action. If the head office approved the loan then mostly the period contains a year. And if the party requires more loan than after a year the loan has been re-approved required that they should have the limit. In case if the head office do not approve the loans then the return letter came back with the reasons of not approval of loan and if the reasons have been made approved by the concerned party then it could be sent again for approval. BASIC BANKING ACCOUNT In compliance with the directives of State Bank of Pakistan via BDP Circular No. 30, issued on 29th November 2005, the Basic Banking Account has been launched with effect from 27th February 2006. This product has been introduced to facilitate the low income group as well as the existing account holders who wish to convert their regular savings or current account into Basic Banking Account.
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The Basic Banking Account is a current account and can be opened with a minimum initial deposit of Rs. 1000/- only. Account holders will be allowed 2 deposit transactions (each cash or through clearing) and 2 withdrawals (cash or clearing) each month. All customer-initiated transactions over and above this limit will be charged a transaction fee. However unlimited free charge cash withdrawals are allowed through MCBs own ATMs. PAK RUPEE OR FOREIGN CURRENCY ACCOUNTS SAVING ACCOUNT MCBs Foreign Currency Savings Account offers you attractive returns on your foreign currency investment. Unlimited transaction facility, profit credited to your account on a half yearly basis. You can avail a credit facility up to 75% of the total deposits value. A foreign currency account can be opened at any of our foreign exchange dealing branches. MCB RUPEE MAXIMIZER ACCOUNT MCB Rupee Maximizer Account provides you an opportunity to convert youre the recent changes in the economic scenario MCB launched the Rupee Maximizer Account exclusively for its Foreign Currency Account Holders. MCB Foreign Currency Account holders now have an opportunity to convert their Foreign Currency Account balances into Pak Rupees and earn a profit at the rate of 12.6% per annum.Other features include profits calculated on a daily product basis, no restrictions on the number of the withdrawals, no minimum deposit required. Special benefits include one free ATM card and locker facility free of cost. MCB Rupee Maximizer Account is being advertised in leading daily newspaper as well as local papers. Foreign Currency Account into Pak Rupee and earn profit at the rate of 12.6% per annum. CURRENT ACCOUNT MCBs Foreign Currency Current Account offers you the convenience of unlimited withdrawals i.e. access to your funds whenever you want without any notice. There is no limit on the number of transactions you make in a day.
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KHUSHALI BACHAT ACCOUNT Open a Khushali Bachat or Dollar Khushali Account, both require low minimum income deposits plus you receive profit on daily product basis. Get a saving with current account facilities through saving 365 or double your investment through capital growth and receive monthly profits through monthly Khushali. MCB ENHANCED SAVING ACCOUNT Keeping in view the small savers, looking for higher returns on their savings, MCB introduces the Enhanced Saving Account (ESA). This account can be operated via all the channels available at the MCB such as Cheques, Virtual Banking, Mobile Banking, MCB Smart Card and ATMs/Point of sales all across Pakistan. MCB ESA, governed under PLS rules, can be opened with a minimum initial deposit of Rs. 5000 and the profit shall be calculated on an average basis maintained by the customer during that month. Following shall be the slabs used for profit calculation: If average balance is greater than Rs. 20,000 standard PLS rates will apply. If average balance less than Rs. 20,000 (or equal to 20,000) with up to 4 withdrawal transactions per month (excluding ATMs, PSO, and VB) 4.0% p.a. The rates mentioned above are expected and shall be revised at least every six months. Average account balances can exceed Rs. 20,000 during a month. However, in that case, they shall be paid profit as per the standard PLS rates, as mentioned in slabs above. Profit shall be calculated on average basis and shall be credited to the account after each calendar quarter. MCBs PARTNERS IN BILL PAYMENTPay your bills 24 hours a day, a day, 7 days, and a week. Make total payments of up to Rs. 20,000 per day. Carry out up to 10 transactions per day per card. Make either full or partial payments. Full payment is required for PTCL only. Recharge your prepaid account for Mobilink, Ufone and Telenor as per their fixed slabs. Pay as a registered or non-registered user. Registration will help you avoid the time delay in entering details each time you carry out a transaction. o Pay with MCB ATM
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o Pay through MCB Virtual o Pay through MCB Call Centre INVESTMENT BANKING Our investment banking team has emerged as a leading player in Pakistans investment banking arena. The team handles advisory, corporate finance and capital markets related transactions, within these areas the team has developed expertise in:
Private Placements Debt/Equity Underwriting Team Finance Certificates Loan Syndication Arrangement of Non-Fund Facilities Mergers and Acquisitions Privatization Corporate Advisory ABOUT REMIT EXPRESS Fastest to Pakistan, anywhere in Pakistan, the fastest way of getting your money across to Pakistan. Remit express offers low cost remittance from U.A.E and Saudi Arabia. Your relatives friends or business associates receive drafts within 72 hours.MCB remit express has been specifically designed to meet the needs of the expatriate Pakistani community residing in the gulf countries. Easiest and safest way to remit funds, remittance within 24 to 74 hours, personal
delivery to the beneficiary, delivery confirmation to the remitter, message facilities for both parties. Your beneficiary will receive the amount even if he/she does not have an MCB account. PERSONAL LOANThe more you praise and celebrate your life, the more there is in life to celebrate. MCB personal loan shortens the distance between your dreams and your celebrations. It is fast, flexible and affordable, speedy loan approval. No guarantor / security / collateral required. Borrow up to Rs. 1,000,000.
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DEPOSITS: The total deposits of this about to 207.10 million. NUMBEROFACCOUNTS: Accounts in this branch of MCB are as follows: CURRENT A/C Total numbers of current accounts are 1049. PLS ACCOUNT: Totalnumbe PLS are 2120 NO. OF VOUCHERS:The vouchers which are transacted in this branch are as follows: TYPES,DEBIT,CREDIT Transfer:961,901 Clearing:591,810 Cash:1754,1389
Other general information of the branchDeposits: The total deposits of this about to 800 million. In deposit there is increasing trend.
Deposits
Graph
80 75 70 65 60 2006, 2007, 2008,
5.3.2 Numbers of employees
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Management of the branch Mr.Aamir Mr. Atif Butt Miss Sofia Mr.Waseem Mr.Umer Miss Sofia Miss Sofia Duties of the Employees Training received by number of employees: For the efficient working training is an important part and it clears the direction of the employees towards attaining the organizational goals. In banks every employee received the basic course of training of the banking system in which overall view of all the bank work is provided and than every person get the training in his particular job that is assigned to him. So in banks no one can be appointed with out the basic training . Workload: The work load of the bank staff is based upon on the daily system. The office timing starts from 9.00 am to 5.00 pm (Monday to Friday) and 9.00 am to 1.00 pm on Saturday for the customers. After the bank timing the staff fulfill the daily vouchers transaction and made the entries on the net system and then counted the cash, put it in the safe. The banking staff should finished their word on daily basis whether there work is short or long. Responsibilities: Responsibilities of staff depend upon the scale of the staff members. Higher the rank of the staff higher will be the responsibility on it. For example the Branch Manager responsibility is higher than the Operational Manager. Branch Manager Operational Manager Customer Relation Officer Cashier Billing Cashier Dispatcher Account OpeningOfficer
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Branch Manager has the responsibility to deal with the Branch customer and with the outsider parties also while all the remaining staff is responsible to deal with the Branch customers only. Branch Manager is responsible for the internal and external environment and the remaining staff is responsible for internal environment only.Operational Manager has the responsibility to check the activities of his subordinates. Cashier is responsible for all the cash transactions which occur in the Bank. Customer Relation officer is responsible to deal the customers well and provide them the necessary information if required.
Physical facilities:The branch where I have done my internship is MCB Shaheen Chowk Gujrat branch, here the physical facilities available to the customers are sufficient, proper sitting arrangement is available, and gas heater in winter and air conditioners for summer is also available. But the facilities for the employees is not sufficient, employees have the combined table there is no separate rooms for the employees.
5.3.3 Main Offices/head office Offices means the Head office which is situated in MCB House located at Fruit Mendi Branch. Field offices mean the Branches. MCB has the forth largest domestic branch network in Pakistan. The bank has a network of over 1000 branches in Pakistan and 6 branches worldwide in 6 countries. MCB Relationship of head office to the branch offices: In MCB decision, strategies, policies are made by the top level management and these are implemented in each branch. Top level management dont involve the lower management in decision making process.MCB is the pioneer of computerization, as far as it has a very developed and fastest network. So the head office and all of its branches are linked through a electronic network, that make possible easy and in time transformation of the important information.Offices means the Head office
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which is situated in MCB House located at Sharea Ghous-ul-Azam, commonly known as Jail Road. Field offices mean the Branches. MCB has the forth largest domestic branch network in Pakistan. NETWORKS:PROVINCE WISE Province Punjab Sindh N.W.F.P. Balochistan Azad J. Kashmir Domestic Total Overseas EPZ Grand Total Branches 665 248 106 37 18 1,074 6 1 1,081 Sub Brs. 7 1 8 8 Total 672 249 106 37 18 1,082 6 1 1,089 MCB BRANCH
5.3.5 Comment on Organization Structure MCB performs several functions and have many departments in order to retain and maintain their customers some of these departments are the collections department, Advance department, Bill department, Clearing department etc.To motivate the employees MCB provide many allowances and facilities to its employees such as medical facility, huge amount of bonuses and also motivate the employees through promotions. The branch in which I have done my
internship is providing the very satisfactory services to its customers and large numbers of customers are satisfied with the attitude and the services provided the branch.The performance of the Banks is increasing day by day. Role of the organization in Pakistan: MCB Bank Limited formerly known as Muslim Commercial BankLimited on July 9, 1947 in Kolkata in Bengal, under the Indian Companies Act, VII of 1913 as a limited company`. But due to changing scenario of the region, the certificate of incorporation was issued on 17 August, 1948 with a delay of almost 1 year; the certificate was issued at Chittagong. The first Head office
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of the company was established at Dacca and Mr. G.M. Adamjee was appointed chairman. It was incorporated with
its
first
an authorized capital of Rs. 15 million. The Bank
transferred its registered/Head office from Dhaka to Karachi on August 23, 1956 through a special Resolution. The bank was nationalized in 1974 during the government of Zulfiqar Ali Bhutto. This was the first bank to be privatized in 1991 and the bank was purchased by a consortium of Pakistani corporate groups led by Nishat Group.MCB is Pakistans fourth largest bank by assets having an asset base of US$6.7 billion, and the largest by market capitalization having a market capitalization of US$4.1 billion. The Bank has a customer base of approximately 4 million and a nationwide distribution network of 1,026 branches, including 8 Islamic banking branches, and over 300 ATMs, in a market with a population of 160 million.
5.4 Introduction to the reports Learning as internee in MCB It was a tremendous experience that I have availed with devotion and commitment. I want to share its not easy that looks it has a great toughness and complications in its process but the overall it was nice and great. Here I am sharing some of my learning regarding my internship in different departments. Weekly timetables Weeks 1st week Dates Departments General Banking Department:
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2nd week 3rd week 4th week 5th week 6th week Controlling Supervisor Name : Atif Butt
cash department Clearingdepartment Govt. Payments & Receipts Remittance Advances
Detail of 1st week activities: First I met Miss sofiya.she is a customer services officer. I discussed about the deposite slip then Demand draft General Banking Department: In the general banking department may I learned and practiced the following step in above. Account opening procedures Basic requirements for opening an account Documents required for account opening Verification of the documents Minimum Initial deposit and minimum balance requirements Signature Specimen Card (SS Card)
2ndWeek: Department: cash department and CSO (Customer Service officer) In the 2nd week I started working with CSO. There is separate slip use for online transaction. On this slip the name of the beneficiary, account no, branch code and purpose of payment is mentioned. As well as paying partys account title, account no and contact no i s also mentioned. Type By cheque By cash Charges for online transaction: Commission 125 150 FED 20 24 Total 145 174 if the cash is
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more than 25000 then the 0.2% tax will also include. Third week :I meet to Sir Anwar .He is working in clearing department.I learnt that every
problem is solvedwitha systematicprocess I learnt about the marketing procedure and required of the documents and dealing with customers. All the record is saved.During my internship I learnt about the value that customer is the only who come first. The fulfillment of the demand of customer is our basic motive. Clearing Department:In the clearing department I learned and practiced the following tasks: Outward clearing (cheques of other banks and branches) Inward clearing (cheques of the branch) Intercity (cheques send outside the city) CC (cheques collection, without NIFT) 4 week activities: Telegraphic Transfer DD- Demand Draft PO- Payment Order For TT, the account of beneficiary must be there in branch. DD is also prepared and beneficiary can get payment. First of all,
th
Performa is filled by purchasing party along with cheque or cash payment. When cheque is received it is first posted in computer section in order to check the balance of account. After posting the bank officer calculate tax if National Tax number is not there. i.e. Rs.100000 @0, 1% More than Rs.40000 @0.4% Commission and postage charges are also calculated. These are paid in cash or otherwise by cheques. What type of job are you looking for? You always have to be wary of the customer that
sets up a seemingly legitimate business simply to "bust out"--taking goods and disappearing without paying. Here are some specific steps you can take to protect your company from a bust
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out. Know your salespeople and their performance. In credit, you typically know which sales reps are go-getters and which are not. Either way, that understanding can be helpful in assessing what kind of orders are coming through them. When you receive orders from new customers, identify the salespeople involved. Orders from salespeople whose track records are poor in terms of overall sales performance should be scrutinized carefully Competitors of MCB National Bank Alfalah Bank United Bank Alliad Bank Citi Bank habib Bank Ltd Faysal Bank Prime Commercial Bank ABN Amro Bank SaudiPakCommerecialBank IndusBank SoneriBank BankofKhyber BankofPunjab GulfCommerecial Bank MetropolitanStandard chartered Askari Bank
Objective of organization onMCB creating and managing values the first ObjectiveofMCBiscreating and managing values which is one of the back bone of the Objective ofanyorganization and managed organization Human values the Second Objective of MCBis take care of the Human Capital which is anecessary thing for the development and prosperty of any establishedorganization Periods of Internee
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During my internship in the MCB bank Limited, I really enjoyed to work with the staff of Branch, from 15thAug 2011 to 30th Sep 2011 and have a wish to be employee of MCB. It was almost impossible to work in all the departments within that limited time. But on my request, the staff of the branch provided me the opportunity to work in the different departments for the sake of practical knowledge. I am very thankful to branch manager Mr. amir who provides me a learning environment in the branch. During my internship in MCB I have worked in different departments & seats. I tried my best to learn as much as possible. The detail of my learning and experiences is given below. General Banking Department In the general banking department may I learned and practiced the following tasks: Account opening procedures Basic requirements for opening an account Documents required for account opening Verification of the documents Minimum Initial deposit and minimum balance requirements Signature Specimen Card (SS Card) Procedure of account closing Check book request and issuance procedure
Clearing Department In the clearing department I learned and practiced the following tasks Online clearing of checks (within the city) Online clearing of checks (outside the city) Outward Bills for Collection (OBC) Inter-bank Credit Advice (IBCA) Demand Draft and Pay Order
Trade Finance Department In the trade finance department I learned and practiced the following tasks Various types of L/C Parties involved in a L/C Basic requirements for opening a L/C
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Making the Proposal for L/C Terms and conditions of the L/C Inward and outward Foreign exchange Remittances
Issuance of cheque book When a customer opens an account with the bank, he is provided with cheque book for withdrawals from account. However, the first cheque book is given to the customer only when all the required documents are checked. A cheque book contains ten, twenty five, fifty or hundred leaves. The cheque book also carries a requisition slip for the issuance of the new cheque book. This slip is duly filled and singed by the customer. The signature of the customer is verified by the bank and new cheque book is issued to the customer and serial numbers of the cheque are duly entered in the book of the bank. Along with the signature, person should also write his full name & address. Usually only one cheque book is issued at a time, however big concerns who need a number of cheque books at a time, may ask the bank to stock as number of cheque books in their name and to point their name on these cheque books. Bank debits the clients account for excise duty of Rs.5.0/- per cheque and keeps the cheque book ready for the customer, as on his advice. The officer keeps and maintains the cheque book register Cheque book inventory and cheque books issued are recorded in this register. The account number for which the cheque book is issued and the number of leaves are also recorded in this register when the cheque book issued an entry is passed in the cheque book issue register. FOREIGN EXCHANGE DEPARTMENT In my third week of internship I was transferred to second floor of my branch to work in foreign exchange department. In this department I worked with Miss Ansa.. They were really cooperative. Mr. Faisal told me a lot about foreign exchange affairs of MCB. He gave me an
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overview of foreign currency accounts which I have mentioned in foreign exchange department. The most important thing that he taught me was the transaction with letter of credit..
The steps involved in any international trade transaction are: The Pakistan Importer places an order with the US exporter and asked the American if he would be willing to ship under L/C. The US exporter agrees to ship under a L/C and specifies relevant information such as prices and delivery terms. Power Plants The Pak. Importer applies to MCB for a L/C to be issued in favor of the US exporter for the merchandise the importer wishes to buy. The US exporter ships the goods to the Pak. Importers on a common carrier. An official of the carrier gives the exporter a bill of lading. The US exporter presents a 90-days (sup pox) draft drawn on MCB in accordance with its L/C and the bill of lading to the bank of New York. The US exporter endorses bill of lading so title to the goods is transferred to the Bank of New York. The Bank of New York sent the draft and bill of lading to MCB. MCB accept the draft taking possession of the documents and promising to pay the now accepted draft in 90days. MCB returns the accepted draft to the Bank of New York. The Bank of New York tells the US exporter that it has received the accepted bank draft, which is payable in 90 days. CASH MANAGEMENT In fourth week I was sent to cash department and I observed that the most important department of MCB which deals in money (receiving deposits at lower rates and lend them out at higher rates of interest). This department also called as Chest Department and manager of it is called
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Cash Manager or Chest Manager. In those branches where this department is not separately existed, the branch manager performs the duties of the Chest Manager. UTILITY BILLS COLLECTIONThen I was transferred in utility bills collection section. I worked in the utility bills collection department as the MCB collects utility bills on behalf of WAPDA, Sui Gas Companies, and Pakistan Telecommunication Corporation Limited by putting the stamp on the utility bills Paid, Date of payment, Signature of the officer receiving the utility bills. After receiving utility bills a list is made on the form which is called Bills scroll form. One copy of the scroll is with the bank for evidence whereas the original copy with the receipt of the bills is sent to the billing department of the respective corporation. The bank charge commission on the bills. HOW TO HONOUR A CHEQUEDuring my internship span in the Muslim Commercial Bank Limited, I observed that Cheques are received for the following purposes. i) ii) iii) For Cash payments For transfer(from one account to another account) For Clearing
i)
For cash Payments
Cheques which are presented on Bank counter must be checked in the following way: 1) Date. 2) Signature of Drawer. 3) Signature of Payee. 4) Whether Bearer has cancelled. 5) Whether Payee account duly is there. If condition 4&5 exist then check the signatures of Drawer. 6) Match the figure and wordily amount of cheque. When all above matters are satisfied then come to the Token register and check: 1) Token number.
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2) Cheque number. 3) Amount of cheque. 4) Particulars. Two stamps are put on cheque. a) Cash Payment (on the face of cheque). b) Stamp for Token (on the back of cheque). On stamp which is put for token their details are as follows: Token number. Time of giving token to client. Signature of token giver.
Cheque Encashment Process (Flow Chart)

Token is assigned to cheque Cheque verified for signatures
Entries posting in computer
Cheque approval
Balance is checked 2nd signatures of senior officer Cash counted and given
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Cheque for Transfer When cheques are presented to be sent for collection and drawn on bank situated within the city then there are three stamps to be put on face as well as on back of cheque. a) b) c) Crossing Stamp (face). Transfer Stamp (face). Bank Manager Stamp (back).. ii) Cheques for clearing
There are two stamps put on each cheque, sent for clearing: a) b) Crossing Stamp. Clearing Stamp. iii) Cheques in Collection
When cheques received in clearing are intra city then these are controlled under CC.First of all, these cheques are recorded in day book then allotted number and then serial number. Then a Performa is prepared in which Bank on whom was drawn, cheque number, amount, beneficiary name are recorded. After completing that Performa cheque is posted along with Performa.
CLEARINGI spent my Third week of internship in clearing department. The cheques which need cleared are pass through the following procedure.Following information is entered in clearing register. a) Name of favoring party. b) Name of bank on whom drawn. c) Branch. d) Cheque number. e) Amount.
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Clearing is sent after entering in register. In clearing register future date and day is putted. Cheques and vouchers are then separated and Cheques are sent for clearing.Clearing credit vouchers are entered on clearing sheet. Such credits are balanced by giving debits to cheques received in clearing from other branches. At the beginning of the day clearing return sheet is received. Vouchers are made if
2. Clearing received is more than clearing delivered then Credit voucher. 3. Clearing delivered is more than clearing received then Credit voucher. On the same day, credit vouchers sent for clearing are entered on the sheet's credit side. Cheques are sent to NIFT after taking them on calculator, their total amount along with total number of instruments. A summary is prepared and sealed after noting the number of seal in summary. Telephonic Transfer DD- Demand Draft PO- Payment Order For TT, the account of beneficiary must be there in branch. DD is also prepared and beneficiary can get payment. First of all,
Performa is filled by purchasing party along with cheque or cash payment. When cheque is received it is first posted in computer section in order to check the balance of account. After posting the bank officer calculate tax if National Tax number is not there. i.e. Rs.100000 @0, 1% More than Rs.40000 @0.4% Commission and postage charges are also calculated. These are paid in cash or otherwise by cheque.
Summary of learning Work in Internee Skills and qualifications that I have gained from the internship. During the internship there is practical knowledge acquired about the banking sector. What activities are performed by banks and how to deal with public? Also commitment about work
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and operations of banks. Financing and credits and other public services are performed by the banks. What are implementations of banking rules in banking sector? And much learn about the various executives experiences and their skills. What is role of higher authority (manager) in decision making and how to solve the problems? How much money or reserves are used to meet the requirements in the branch. What are the duties of operation manager and how to pay cheques and all procedure relating to opening account in the banks?
Responsibilities that I have undertaken during my internship period. During my internship inMCB, they assign me worked in pension department. Pension manager trained me very nicely and I learned lot of things in this department. They give the pension to retired Govt. employees. There are two type of pensions given, I also do the work in clearing department. is that when cheques are coming from outside city for cash and those cheques which come from branches inside city are sent to clearing house, so I made the statement to clearing house for clearing cheques. In credit department, I was assigned many duties, for example. I used to fulfill forms prescribed for gold loans. I used to take signatures of applicant and branch manager on loan form. I used to calculate amount after including interest charged by bank on that loan.I used to calculate interest amount charged by bank. I used to post in ledger, all the details of applicant, amount of loan, amount of interest, amount, weight and number of tools in gold pledged against loan etc. I used to record all details of applicant and amount of loan in computer. Preparing different kinds of documents required for the completion of procedure. Countrywide Branch Networ Southern Region North Nazimabad Branch Cloth Market Branch
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SITE Branch Mohammad Ali Society Branch Korangi Road Branch New Challi Branch North Karachi Industrial Area Branch Gulshan Chowrangi Branch Southern Region Korangi Industrial Area Branch Timber Market Branch Clifton Block II Branch Hyderabad Branch Quetta Branch
Future Outlook Increase in the branches from 82 to 100. After introducing 100 or more branches in Pakistan go bank in foreign countries. Aims to continue with its strategy of geographical expansion during the year 2007. Expansion is planned in niche markets with potential for consumer, agricultural and SME finance. Providing online facilities more effectively. Also providing mobile banking so that they can be easily in touch with the bank.
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The group stands well equipped to support the above initiatives as well as the valued addition for the depositors and shareholders as a whole 6.3 )Swot analysis MCB Limited is one of the most thriving commercial banks at present in Pakistan. The organization is in the process of building itself into a force to consider. The bank is doing all sorts of new things in order to accumulate a set of distinctive competencies that could later on be transformed into a competitive advantage of considerable value. In this process of developing, striving, facing minor set backs and striving with even more zeal, the bank enjoys some strengths, needs to improve upon some weaknesses, can exploit some opportunities and is hampered by few threats. This SWOT analysis of MCB Limited takes into consideration the external as well as the internal environmental structure of the bank. Strengths :The predominant strengths of MCB Limited are
Humble Management Strength And Commitment Of Sponsors Efficiency Phenomenal Growth Vastly Experienced Management Highly Professional Human Resource Department Crucial Location Of Branches Good reputation Strong branch network Trained, Skilled & cooperative employees Faster banking services Reasonable service charges Personnel of MCB are well trained and highly skilled. Majority of employees has many years of experience in banking sector and are an asset for the bank MCB has a wide network of branches at the ideal locations, catering the financial needs of its clients
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Foreign Trade is the focus of bank. It has become an ideal bank for the importers and exporters Strong Security System
Weaknesses: The chief weaknesses are Small Size Less Efficient Computer And I. T. System Disproportionate Presence Of Old Staff In The Upper Management Hierarchy Skill Set Of Employees Is Not Up to The Mark As There Is No Job Rotation Foreign Banks Still Are A Little More Prestigious MCB Limited Does Not Possess Foreign Network No Advertising In Electronic Media Behavior towards customer Insufficient advertisement Inefficient HR policies Mismanagement of time Overloading of work on employees Outdated software It is a step behind in using new technology as compared to other banks Most of the employees are overloaded with work. There is uneven distribution of work and promotions are not very timely It is slow in the introduction of new services High cost of production Opportunities: The opportunities on which MCB can capitalize upon are Extension of local branch network Establishing foreign branch network Capitalizing on information technology Effect of Privatization
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Emphasis on information technology Branch network To be in the list of top banks Marketing Unexplored market of multinational corporations Growth in textile sector Adopt E-banking Thearts: The predominant threats MCB is facing at the moment are discussed in the following lines. Private sector banks
Government policies Increased competition in banking market Unstable economic situation Network expansion by foreign banks If Pakistani banks (especially state owned banks), backed by huge network improve the service they give and their employee skill set Terrorist image of the country Inconsistency in government policies
Ratio Analysis of the MCB: An index that relates two accounting numbers and is obtained by dividing one number by otherRatio Analysis is an important and age-old technique of financial analysis. It simplifies the comprehension of financial statements. Ratios tell the whole story of changes in the financial condition of business. It provides data fro inter firm comparison. They also reveal strong firms and weak firms, over- valued and undervalued firms. Ratio analysis also makes possible comparison of the performance of different divisions of the firm. The ratios are helpful in decision about their efficiency of otherwise in the past and likely performance in future. Ratios also help in Investment decisions in the investors and lending decisions in the case of bankersetc.Following are the main types of ratios that I am going to calculate in this report to compare and highlight the financial performance of MCB in 2009 with 2008.
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MCB Internship report FINANCIAL RATIOS Profit before tax ratio (PBT/ total income) Gross Spread (NIM/Int Income) Income/ expense ratio Return on average Times 3.84 27.35% 4.10 31.49% 69.31% 71.13% 2009 55.91% 2008 63.80%
equity (ROE) Return on average assets (ROA) Return on Capital 27.35% 31.49% 3.25% 3.60%
Employed (ROCE) Earnings per share (EPS Rs. before tax) Earnings per share (EPS Rs. after tax) Advances/ deposits ratio (Gross) Advances/ deposits ratio (Net) Breakup value per share Rs. 88.37 100.91 75.60 84.55 68.89% 79.39% 73.37% 82.64% 22.42 22.25 33.50 31.64
Breakup value per share Rs. (including surplus) Earning assets to total assets ratio Capital Adequacy Ratio
87.23%
85.70%
19.07%
16.28%
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7. Recommendations In the light of above given SWOT analysis, in the following lines I shall put forth some of the measures MCB Limited should necessarily take in the near future. The following recommendations include short term as well as long-term issues. MCB Limited should continue to expand its business, by increasing its deposit portfolio through aggressive market penetration strategies. MCB Limited needs to use more marketing channels to make the public aware of its products and services. In the presence of intense competition MCB Limited has to realize the importance of marketing. MCB Limited should immediately improve its Information Technology System. The soft wares currently in use should be made error free. Management should distribute work equally among different employees. Some of the employees are overburdened while some sections are overstaffed. There are a disproportionate number of seasoned bankers in the top management who have the responsibility of making strategic decisions. They should also include a reasonable proportion of young bankers whose mindsets teem with new creative ideas, which might prove to be invaluable for MCB Limited. One of the most pressing needs of the time is to advertise MCB Limited in the electronic media. MCB Limited has not, till date, employed advertisement in electronic media as a full fledge marketing tool. I think it is high time that BAL does this. MCB Limited needs to improve its website. More information relating to financial performance of the bank should be available on the website. MCB Limited should evolve a very serious management policy to attract multinational corporations as its clients. This action, if actualized, would not only prove to be highly profit generating, but it would also contribute a lot towards MCB Limiteds image building.
The number of women hired by MCB Limited is very less. MCB Limited should employ more women. Moreover it should also recruit women for working in Credits
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Presently, like most of the commercial banks working in Pakistan, a high percentage of Bank MCB credit client hail from two or three industrial sectors. MCB should make makes work teams in Credits like other banks such as ABN AMRO and City Bank. It will have a positive impact on the morale of employees. Their performance will improve as a result of distribution of work and responsibility. And it will also enable the bank to hire talented women in the Credits as well. Conclusion: Practical Training Program, spanning across twelve weeks, does a world of good for the
students, as it enables them to have a glance into the organization, which they plan to join in the near future as managers. At this point it certainly is significant to write a word of gratitude for the institutes administration, which makes it sure, that all the students get an exposure to practical life in relatively well-reputed organizations.I must underscore the fact that writing this internship report was an evenly memorable experience as actually doing the internship. I honestly tried my level best to come up with an original piece of writing that could serve as a vivid proof of the fact that students at UOG are certainly no mug at what they do. I truly hope that this report also certifies the fact that all of my worthy teachers performed their duties of academic guidance and moral mentoring with utmost efficiency and effectiveness. It is
evident from this report and the financial statements of MCB that it is making progress by leaps and bounds. The profits of MCB have grown considerably during the last few years and this trend is expected to continue into the future. Therefore, we conclude that MCB has a very prosperous present and future, which assures the shareholders of wealth maximization.Side by side of it I think that if bank would be able to cover and control on the above mentioned recommendations then it would be in such a situation that will really lead it towards the road of prosperity, development and integrity. And with the above mentioned sentences I think there is also a fault of the customers and in order to make the proper working of the bank the customers should also cooperate with the bank which will be really a good, ambitious and diligent condition for the bank. And then bank will be really in such a situation and position to compete its competitors in the country as well as on international level.I hope that this report enables me to keep a memory of those days at the Bank when after a few years I read this report.
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8. References www.mcb.com.pk MCB annual reports 2005 & 2006,2007,2008,2009,2010,2011 MCB newsletter www.bluechipmag.com by Shukat Aziz www.sbp.gov.pk www.bluechipmag.com by Atif Aziz www.KSE.com http://www.oppapers.com/essays/Pakistans-Banking-Sector-Industry Analysis/181995 http://en.wikipedia.org/wiki/Economy_of_Pakistan http://www.sbp.org.pk/reports/annual/arfy09/annex_index.htm http://en.wikipedia.org/wiki/Muslim_Commercial_Bank http://www.blurtit.com/q501915.html MCB Brochures Manuals ,Annua
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Jan.

MCB Internship report

INTERNSHIP REPORT ON MCB BANK Limited

Name of Student: Sana javaid Roll Number: 12052054-045

Name of program coordinator----------------------------Signature of program coordinator--------------------------

MCB Internship report

Faculty of Commerce &Accountancy

MCB Internship report

MCB Internship report

Business Volunme19 Awards 21 22 27 29 30 33 34 35 35 36 36

MCB Internship report

MCB Internship report

MCB Internship report

5.1 Introduction to the Report

5.2.1 HISTORY AND BACKGROUND

MCB Internship report

MCB Internship report

MCB Internship report

MCB Bank Ltd Commercial Bank)

Revenue Net income Website

MCB Internship report

MCB Internship report

MCB Internship report

MCB Internship report

Challenging and Changing the Way you Bank.

MCB Internship report

MCB Internship report

MCB Internship report

MCB Internship report

MCB Internship report

i. ii. iii. iv. v.

ATMs Mobile Banking Call Centre Bill Payments Virtual Banking

MCB Internship report

MCB Internship report

4. Cards i. ii. Smart Card / Debit Card MCB Visa

5. Traveler's cheque i. Rupee Traveler's cheques

MCB Internship report

Gift Cheques CHEQUES

6. Remittance i. Overseas Remittance

8. MNET switch i. M NET Switch

MCB Internship report

MCB Internship report

unconsciously interact with: Themselves Others Organization Society The

MCB Internship report

external macro condition.

Technological advancement in all the sectors of the country

MCB Internship report

MANAGEMENT STRUCTURE OF MCB BOARD OF DIRECTORS Mian Mohammad Mansha Chairman

MCB Internship report

Chief financial officer: Ali Munir Secretary:

MCB Internship report

MCB Internship report

services to the people in different forms. The MCB Bank is a

commercial bank, in modern time commercial banks play a very

MCB Internship report

MCB Internship report

MCB Internship report

Cheque book issue form

MCB Internship report

MCB Internship report

MCB Internship report

MCB Internship report