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Prepared by:
M.Tanzeel-e-Rahman Khan
Submitted to:
Mr. Husnain Naqvi
SEPTEMBER 9, 2015
SUPERIOR UNIVERSITY
Lahore, Pakistan
Topic: Analysis and comparison of sales force structure of foreign and local
banks.
1 BANKING IN PAKISTAN
Banking in Pakistan first formally started in Pakistan during the
period of British colonialism in the South Asia. After independence
from British Raj in 1947, and the emergence of Pakistan as a country
in the globe, the scope of banking in Pakistan has been increasing and
expanding continuously. Pakistan's oldest bank is the State Bank of
Pakistan, which is also the central bank of the nation. Before independence on August 14, 1947,
the Reserve Bank of India was the central bank of what is now Pakistan. After independence,
Muhammad Ali Jinnah took actions to establish a central bank in Pakistan which resulted in the
new founding of the State bank of Pakistan, with its headquarters to be based in Karachi. Only 7%
of the population uses the banks, has tremendous potential, but this needs to be pushed a little
further.
Deutsche Bank AG
Industrial and Commercial Bank of China Limited
Citi Bank
Standard Chartered Pakistan
Banking Industry is one of the most important service industries which touches the lives of in
millions of people. Its service is unique both in social and economic points of view of a nation.
Earlier the attitude of banking service was that it was not professional to sell one's services and
was unnecessary in the sense that traditional relationships and quality of products were sufficient
to carry forward the tasks. Before the mid 1950's the banks had no understanding or regard for
marketing. The bank building was created in the image of a Greek Temple to impress the public
about the importance of a bank. The interior was austere and the teller rarely smiled. Bankers
maintained austere dignity and they hardly maintained friendliness.
Regional Head
(North)
Zonal Head
(Provincial and
other Zones)
Zonal Head
(Provincial and
other Zones)
Area Sales
Manager
Sales Manager
Sales Executive
Area Sales
Manager
Sales Manager
Sales Executive
banks have more formal structure for approaching customers but local sales executives try their
best to make the sale happen even if he has approach in more informal manner on basis of
references and other positive leads. For high profile customer local banks sales department can
also form teams to approach the customers accompanying the area manager, branch manager and
even the directors as well to convince the customers. These sales executives are often called as
business development officers and managers.
They are operate in areas and are not necessarily attached to single branch. They have universal
IDs so that they can access their professional accounts from any branch in a single area. The
sales personals also given with extraneous tasks like cross selling, and special deposits. Upon
which they receive their appraisals and promotions. The differences in local banks and
international banks is that the sales personals do not enjoy any authorities for their daily tasks
they cannot offer any thing extra. Sometimes the area mangers can allow them some flexibility
6
on his own behalf but to only senior and more experienced sales executives. While
international banks sales executives enjoy certain level of flexibility to close the deals with
more customized offerings for the customers.
they already have a reputation in their countries and they have more established customer base
then the international banks. The local banks due the nature of their operations and networks of
contacts in the local market they enjoy more ability to easily lend loans and do more business in
the market while on other hand the international banks can not follow these aggressive strategies.
But international banks have advantage over the local banks when it comes to credit ratings due to
support from the vast business they own worldwide, similarly they have more negotiation power
due to their vast influence. In case of local banks they have limited resources to back their
established credit rating.