Transcript
A STUDY OF JOB SATISFACTION OF BANK EMPLOYEES AT UNITED
COMMERCIAL BANK LTD. BANGLADESH
by
Syeeda Nadia Taskin
ID#0830004
An Internship Report Presented in Partial Fulfillment of the Requirement for the
Degree Bachelor of Business Administration
Independent University, Bangladesh
November, 2012
A STUDY OF JOB SATISFACTION OF BANK EMPLOYEES AT UNITED
COMMERCIAL BANK LTD. BANGLADESH
by
Syeeda Nadia Taskin
ID#0830004
has been Approved
September 2012
---------------------------------
Monzoor Morshed
School of Business
Independent University, Bangladesh
LETTER OF TRANSMITTAL
Mr. Monzoor Morshed
Lecturer
School of Business
Independent University Bangladesh
Sub: Submission of the Internship Report
Dear Sir
In this advanced working report on job satisfaction in United Commercial Bank, I have tried to
implement my academic experiences in the practical field with due sincerity and would like to
thank you for your cooperation. Despite many limitations I have tried my level best to address
the major and in depth issues in making this paper accurate and reliable. If you have any further
enquiry concerning any additional information I would be very pleased to clarify that.
I, therefore, hope that you will be kind enough to accept this report as fulfillment of the
requirement for the course BBA-499.
Thanking you
Sincerely yours
Syeeda Nadia Taskin
ID#0830004
At the very beginning, I would like to express my deep gratitude to almighty Allah for giving
me the strength to finish the project within the schedule time. Preparing an internship report is
copious task. I required enormous time and attention in every step of it. However, it gives me a
true feeling of creation and helps me to understand my ability of work. For fear of sounding like
a vote of thanks speech, I would like to take the opportunity, to thank all of those marvelous
people who have contributed to this report. Of course, some very special people cannot go
without mentioning. At first, I express thank my heartiest gratitude to my Supervisor Mr.
Monzoor Morshed, Lecturer of Business School, IUB, for his kind cooperation in preparing this
report. I would like to thank Mr Selim Reza Khan, First vice Manager of United commercial
Bank Limited, for giving me opportunity to work as an intern. I am grateful to Foreign Exchange
department in charge Mr. Asadur Rahman for his supervision and continuous support to do my
internship. Without their support it was impossible for me make such report. I am also indebted
to all of officers and staffs of UCBL and for giving time and advice to know and learn all
activities of the bank and prepare this report. During the preparation of the project work I have
came to the very supportive touch of different individuals (respondents & seniors from UCBL)
and friends, who lend their ideas, time and caring guidance to amplify the report’s contents. To
be honest to myself I must say that without their help it would be very hard for me to prepare
such report. I am thankful to them with all of my feelings.
ACKNOWLEDGEMENT
United Commercial Bank Limited (UCBL) is one of the first generation private sector Banks in
Bangladesh, commenced its commercial operations from mid 1983 and has since been able to
establish one of the largest network of 84 branches in six different districts.
United Commercial Bank Ltd. offers all kinds of Commercial Corporate and Personal Banking
services covering all segments of society within the framework of Banking Company Act and
rules and regulations laid down by our central bank. Diversification of products and services
include Corporate Banking, Retail Banking, and Consumer Banking right from industry to
agriculture, and real state to software.
UCBL Rajshahi branch is one of the branches, which facilitate all kind of facilities that a Bank
offers. It has General Banking, Credit Management, as well as Foreign Exchange Department.
General Banking is the starting point of all the banking operating. It is the department, which
provides day-to-day services to the customers. General Banking consists of the many sections in
the branch. These are including customer service, account opening/closing, remittance, deposit
department, account’s department.
Credit management department provides many facilities like as loan and advance products to the
client for financing different purpose that fulfill the requirements of the bank and have good
return to the investment as well as satisfy the client. The loan and advance products are personal
loan scheme, small & medium enterprise loan, working capital financing, import financing,
export financing, syndicate loan, industrial financing etc.
Foreign Exchange Department deals with import, export, and foreign remittance and post import
financing. This department is playing an important role in enhancing export earnings, which aids
economic growth and, in turn, will be helpful for economic development. United Commercial
Bank Limited is the preferred choice in banking for friendly and personalized services, tailored
solutions for business needs, global reach in trade and commerce and high yield on investments,
assuring Excellence in Banking Services.
EXECUTIVE SUMMARY
SE. NO TOPIC PAGE NO.
Part One:
General Section
Chapter One: Introduction 1-2
1.1 Background
1
1.2 Objectives
1
1.3 Methodology
2
1.4 Scope
2
1.5 Limitations
2
Chapter Two: Overview of United Commercial Bank
3-19
2.1 History
3
2.2 Management
3
2.3 Corporate Information at a Glance
3
2.4 Vision of the UCBL 4
2.5 Mission of the UCBL 4
2.6 Organogram of UCBL
5
2.7 Products and Services
6
2.8 Department of Commercial Bank 7-19
Part Two:
Research Section
Chapter Three: Introduction 21-24
3.1 Introduction 21
3.2 Statement of the Problem
21
3.3 Objectives of the Study
22
3.4 Literature Review 22
3.5 Significance of the Study
23
3.6 Research Question
23
3.7 Hypothesis
24
3.8 Relative Important Factors
24
3.9 Limitation of the Study
24
Chapter Four: Methodology
25-26
4.1 Data Sources and Method
25
4.2 Variables and Measures
25
4.3 Instrument and Procedure
25
4.4 Statistical Tools
26
4.5 Analysis of Data
26
Chapter Five: Result and Discussion
27-30
Recommendation
30
Conclusion
31
C0NTENT
List of Tables Name of Tables Page No.
Table-1 Demographic Characteristic of Respondents 27
Table-2 General Findings Related to Job Satisfaction 29
List of Figures Name of Figures
Fig-1 Organogram of UCBL 5
Fig-2 Dept. of Commercial Bank 7
Fig-3 Cash Insurance Limit 9
Fig-4 Organizational Structure for Credit Operation 11
Fig-5 Credit Administration Flowchart 12
Fig-6 Loan and Advance 13
Fig-7 Continuous Loan 13
Fog-8 Foreign Exchange Department 15
Fig-9 Flow Chart of Important Procedure 16
Fig-10 Foreign Remittance 19
Fig-11 Conceptual framework 23
Fig-12 Relative Important Factors of Job Satisfaction 24
Fig-13 Respondent’s Working Position 28
Fig-14 Respondent’s Income Range (Monthly) 28
LIST OF TABLES & FIGURES
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PART: ONE
CHAPTER ONE: INTRODUCTION
1.1 Background
A commercial bank performs an imperative function in the economy. It helps to mobilize
money by a continuous procedure of borrowing and lending money. It accumulates its
capital through both own sourcing and out sourcing (depositors are the major part of out
sourcing). This amount is then lent to the other party. Being a service industry provides
various services to its customers. So, every commercial bank has to think about their
customer first, because the customers are the sovereign.
This report has been prepared as the partial fulfillment of BBA program in IUB. To
complete the BBA program successfully each participants required to undergo internship
program in an organization for three months to learn practical knowledge of business
activities. To accomplish the aforesaid requirement, I am assigned as an internee in
United Commercial Bank Ltd, Rajshahi Branch for 3 months starting from September 17,
2012.
1.2 Objectives
The objective of the report is to gather practical knowledge particularly regarding any
business organization and its operations. Theoretical classes of Bachelor of Business
Administration program provides us knowledge regarding theories and models whereas
internship program gives us the chance to view those systems and their operations (based
on theories and models) in practice. Apart from this broad objective, we can identify the
objectives of this report as follows:
� Understanding the environment, functions and management of the organization
for my case it is UCBL Bank.
� Narrating experience in working in UCBL
� To apply theoretical knowledge in the practical filed in order to formulate a
problem to work on.
� Defining and analyzing the problem.
� To learn about banking more thoroughly.
� To relate the theoretical knowledge with the practical content.
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1.3 Methodology
I joined as an intern in UCBL Rajshahi Branch on September 17, 2012. I was assigned to
work under all the departments within 3 months. I worked under each officer and learn
from him or her directly. I frequently ask questions and obey their instructions.
1.4 Scope
As my study title is “Job Satisfaction of Bank Employees at United Commercial Bank
Ltd. Bangladesh” it is clear that the scope of this study has spread over whole customers
of the organization both corporate and retail. The scope of the study has been divided in
two parts. One is operational scope and another is time scope. These are described below
- Operational Scope: The operational scope of this study has been confined
working under all the departments for 3 months.
- Time Scope: This report has accomplished with in the period of three months
started from 17th September 2012.
1.5 Limitations
While doing this paper, I have faced several obstacles. They were –
���� The website of UCBL does not contain updated information.
���� UCBL does not possess any Annual Report or Brochure.
���� I have to submit the report within short period.
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CHAPTER TWO: OVERVIEW OF UNITED COMMERCIAL BANK
2.1 History
United Commercial Bank Limited (UCBL) is a Bangladesh based financial institution
that provides banking services. The services include personal and business banking,
loans, credit cards, online banking and money transfer services. The bank primarily
operates in Bangladesh, where it is headquartered in Dhaka.
With its firm commitment to the economic development of the country, the Bank has
already made a distinct mark in the realm of Private Sector Banking through personalized
service, innovative practices, dynamic approach and efficient Management. The Bank,
aiming to play a leading role in the economic activities of the country, is firmly engaged
in the development of trade, commerce and industry thorough a creative credit policy.
United Commercial Bank Limited incorporated on 26 June 1983 as a public company
with limited liability under the Companies Act 1993. The bank obtained permission to
commence business with effect from 26 June 1983 and started banking operations on 29
June 1983 with an authorized capital of Tk. 100 million divided into 1 million ordinary
shares of Tk. 100 each.
2.2 Management
The Bank has in its Management a combination of highly skilled and eminent bankers of
the country of varied experience and expertise successfully led by Mr. M. Shahjahan
Bhuiyan, a dynamic banker, as its Managing Director and well-educated young,
energetic, and dedicated officers working with missionary zeal for the growth and
progress of the institution.
2.3 Corporate Information at a Glance
Registered Name United Commercial Bank Limited
Registered Head Office Federation Building, 60 Motijheel, Dhaka.
Chairman Mr. Md. LATE Akhtaruzzaman choudhury
babu
Managing Director Mr. M. Shahjahan Bhuiyan
Number of Branches 84
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2.4 Vision of the UCBL
To hold the position of best private commercial Bank in Bangladesh with adherence to
meticulous compliances of rules and regulations and strong commitment to corporate
social responsibility.
2.5 Mission of the UCBL
(a) To get recognition as a dynamic, innovative and customer supportive Bank.
(b) To maintain continuous & steady growth with utmost transparency and to diversify
development of resources.
(c) To enhance continuous development of information & technology to meet the demand
and challenges of the time
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2.6 Organogram of UCBL
Fig-1: Organogram of UCBL
Executive Vice President (EVP)
Senior Vice President (SVP)
First Vice President (FVP)
Vice President (VP)
First Assistance Vice President
Assistance Vice President (AVP)
Senior Executive Officer (SEO)
Executive Officer (EO)
Management Trainee Officer
Senior Officer
Officer
Junior Officer
Deputy Managing Director (DMD)
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2.7 Products and Services
Products & Services
� UCB Multi Millionaire � Industrial Finance
� UCB Money Maximizer � Foreign Currency Deposit A/C
� UCB Earning Plus � NFCD ( Non Resident Foreign
Currency Deposit Account )
� UCB DPS Plus � RFCD ( Resident Foreign Currency
Deposit Account )
� Western Union Money
Transfer
� Consumer Credit Scheme
� SMS Banking Service � Locker Service
� Online Service � Industrial Finance
� Credit Card, Debit Card � Foreign Currency Deposit A/C
� One Stop Service
� NFCD ( Non Resident Foreign
Currency Deposit Account )
� Time Deposit Scheme � Inward & Outward Remittances
� Monthly Savings Scheme � Travelers Cheques
� Deposit Insurance Scheme � Import Finance
� Working Capital Finance � Export Finance
� Inward & Outward
Remittances
� Trade Finance
� Loan Syndication � Underwriting and Bridge Financing
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2.8 Department of Commercial Bank: Commercial Bank divided its branch into 3
departments.
Fig-2 Dept. of Commercial Bank
2.8.1 General Banking
General Banking is the starting point of all the banking operating. General Banking
department aids in taking deposits and simultaneously provides some ancillaries services.
It provides those customers who come frequently and those customers who come one
time in banking for enjoying ancillary services. It is the department, which provides day-
to-day services to the customers. Every day it receives deposits from the customers and
meets their demand for cash by honoring cheques. It opens new accounts, demit funds,
issue bank drafts and pay orders etc.
� Cash Section
Cash section demonstrates liquidity strength of a Bank. It is also sensitive as it deals with
liquid money. It is the most important department that is contributing to the earning of the
bank in terms of goodwill and customer satisfaction with their quality and prompt
services.
Cash department of UCB Rajshahi Branch is well equipped and decorated. There is also
electronic counted machine and computers with online system in this department.
Balance of account can be seen with few seconds. So cash payment can be made very
promptly. Transaction involving cash is called cash transactions. The cheques/ instrument
/ vouchers which are paid in cash over the counter are cash transactions. It has two types
of services:
� Cash Receipt
� Cash Payment
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� Procedure of Cash Receipt
The depositor will use the prescribed deposit slip supplied by the bank to deposit cash
/cheques/ demand draft/ pay order etc. All cash receipt voucher shall be received by the
teller. Cash receipt counter performs its job as follows:
� First checks if the deposit slip is properly filled up containing title of account,
account number, date, amount in word and figures and depositors sign.
� Cash is received by the cash receiving officer, twice counted and matched
with the deposit slip and also write down the denomination of notes behind
the cheque.
� Record it in the Record Book and put scroll no in the cheque
� Deposit slip is credited and posted in the concerned account in the system.
� Procedure of Cash Payment
At this counter cash is paid to the customer on demand by placing a cheque over counter.
Payment counter performs its job as follows:
� Check the cheque leaf whether it is worded properly. This cheque covers
Branch seal, Date (Date must be current date or 180 days earlier), amount in
figure and word, and finally signature of the Drawer. We also check here
whether the word “Bearer” is crossed away or the cheque is in the name of
any company or firm.
� Verify the signature with the specimen signature and give verification seal and
signature of the verifier.
� Check proper endorsement is given behind the check leaf in case of Check
Drawn on Payees in the name of any Firm. For cheques in the name of Firm
Attestation is required along with Firm’s common seal to be paid over the
cash counter.
� Give posting in PcBANK2000 and debit Drawer account and note the
transaction no. on the top of the cheque.
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� Cash Book Balance
At the end of the working day cashier is responsible to maintain the cash balance book.
The cash book contain the date, opening balance, detail of cash payment and received in
figures, closing balance, denomination of government notes (Currency). It s checked by
manager. The consolidated figure of receipt and payment of cash is entered in the cash
book and the closing balance of cash is drawn from that i.e.
Opening Balance of Cash + Receipts - Payments = Balance
The closing balance of today will be the opening balance of tomorrow. This department
is one of the most important departments of the Bank. All the books maintained in this
department are checked by officer.
� Cash Insurance Limit
Fig-3: Cash Insurance Limit
� Maintenance of Cash Remittance
The In-charge of Cash Department maintains the cash remittance according to the rules
of the Bank. If the cash manager thinks that the amount of money cross the limit, then he
called the Principal Branch to takes the extra amount of money or vice versa. Inter
Branch Credit Advice (IBCA) is used for such transaction.
� On-Line Banking Operations
The UCBL has 84 branches and all transactions among the branches are done through
Online. UCBL uses PcBank2000 customized software for its day to day transaction. The
activities are:
� Deposit cash in any branch in any account
� Withdraw cash from any branch
� Transfer from any account to any branch
Tk. 75 Lac Tk. 10 Lac Tk. 1 Corer
Cash in Vault Cash in Counter Cash in Transit
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Account Opening Management
Responsibility of the customer service starts with opening of new account in the name of
new customer. This is the starting point of the client bank relationship. By opening an
account, the bank bridge it’s customer to avail the facilities provided by the bank.
� Types of Account
UCBL has several types of deposits for its customers. Like-
� Savings Bank (SB) Account
� Current Deposit (CD) Account
� Short Term Deposit (STD) Account
� Fixed Deposit Receipt (FDR) Account
� Account Bills and Remittance:
Remittance is one of the important items of bank business. Now a day business person
cannot run his business without bank remittance facilities. Sending some money from one
station to another through banking channel is called remittance. Remittance may be both
local and foreign. The main instruments used for local remittance of fund are:
� Pay Order (PO)
� Demand Drafts (DD)
� Telegraphic Transfer (TT)
� Payment in Cash
� Clearing
The function of clearing department can be divided into two parts:
� Outward Clearing
� Inward Clearing
2.8.2 Credit Management:
The word ‘credit’ derives from Latin word ‘cruder’ means ‘to trust’. The fundamental
nature of credit is that, an element of trust exists between buyer and seller whether of
goods or of money. Credit may also be defined narrowly or broadly. Narrowly credit is
simply the opposite of debt. Debt is the obligation to make future payments. Credit is the
claim to receive these payments. Credit is finance made available by one party (lender,
seller or shareholder/ owner) to another (borrower, buyer, corporate or non-corporate
firm), i.e. from surplus unit to deficit unit. Credit is the outcome of financial
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intermediation the very major service offered by Bank financial institution. The economic
basis of financial intermediation lies in the economics of scale in portfolio management
and in the low of large numbers.
Lander have preference for financial intermediation because of:
� Low risk
� Greater liquidity
� Convenience and
� Organizational Structure for Credit Operation:
Head Office
Fig-4: Organizational Structure for Credit Operation
Board
EC
MD
DMD
Corporate
Division
Credit
Division
Internal Audit
General
credit dept
SME
Dept
Syndication &
Structured
Finance Dept.
Leasing
Dept.
Trade
Financ
Recovery
&
Legal
Dept.
CRM
Dept.
Credit Marketing
Team
Credit Recovery
Team
Credit administration
Team
Credit approval Team
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At the minimum, one officer shall be placed in the Credit Administration unit
immediately at each branch who shall independently under administrative and working
control of Credit Administration Department.
� Credit Administration Flowchart:
Fig-5: Credit Administration Flowchart
Functions of
Credit Administration
Compliance
Approval from
CRM
Completion of
Security
Documentation
Limit
Creation &
Complying
Disbursement
Disbursement
Obtaining security
Documentation as
per approval
Safely Storing
Loans/Security
Documents
(fire proof)
Ensure Collateral is
insured & properly
Values.
Monitoring
Of Past Due,
Limit,
Expiry &
Documents
Monitoring
Conditions &
Covenant Branch
Monitoring
Custodian Disbursement
Returns to
BB,
CIB
Reporting,
Maintain BB,
Circulars &
ensure
compliance by
all Depts.
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Loan & Advances
Loan and advances have primarily been divided into three main heads as follows:
Fig-6: Loan and Advance
� Fixed Term Loan
These are the non-revolving loans made by the Bank with fixed repayment schedules.
This loan is given for a specific term and usually repaid in Equal Installment either of
monthly or quarterly. The interest may be paid quarterly or along with the installment.
Fixed term loans are categorized into three categories based upon its tenure which is
defined as follows:
� Short-term loan
� Mid Term loan
� Long Term Loan:
� Continuous Loan
Fig-7: Continuous Loan
Loan & Advance
Continuous Term Loan Demand Loan
Over Draft (OD) Cash Credit
CC Pledge CC Hypo Secured OD Temporary
Continuous
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� Demand Loan
These are the non-revolving loans which are neither continuous nor fixed but have to be
repaid on demand. This loan is repayable by the borrower on demand. That means for
this loan the borrower is bound to pay back on demand of Bank.
� Personal Loan ( Consumer Credit Scheme)
The objectives of this loan are to provide essential household durable to the fixed income
group (Service Holders) and other eligible borrowers. Car loan, loan for house
renovation, vacation loan, marriage loan and loan for household equipment well as
entertainment products are governed by personal loan program.
� Credit Committee
Bank has a multi-tier Credit approving system to manage the credit risk efficiently. Credit
proposals after preliminary evaluation and making necessary adjustment will be placed
by Corporate Banking Division before the Credit Committee for preliminary appraisal
since recommendation of the Credit Committee is pre-requisite before approving any
loans by the appropriate approval authority. Credit Risk Review Department of CRMD
will conduct their risk assessment on different aspects of the proposal and may place their
observation in the Credit Committee meeting.
2.8.3 Foreign Exchange Department
Foreign Exchange Department is an important one in UCBL Rajshahi Branch that deals
with import, export, and foreign remittance and post import financing. Through this is an
ancillary service provided by the Bank. The Bank is purchasing primary security by
giving loan in form of loan against imported merchandise (LIM), and loan against trust
receipt (LTR). Bank branch should be ‘Authorized Dealer’ with the approval of
Bangladesh Bank to run foreign exchange business. This department is playing an
important role in enhancing export earnings, which aids economic growth and, in turn,
will be helpful for economic development. On the other hand, it also helps to meet those
goods and services, which are more demandable and not adequate in our country.
� Function of Foreign Exchange
� L/C opening & L/C amendment
� Sanctioning PAD, LIM, LTR, Packing credit
� Foreign Bill Purchase
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� Local Bill Purchase
� Foreign Currency Account Maintaining
� Foreign Currency Remitted
The Foreign Exchange Department of UCBL is divided into three broad sections:
Fig-8: Foreign Exchange Department
� Letter of Credit
Letter of Credit is a payment guarantee to the seller by the buyer’s Bank. It is a Credit
Contract whereby the buyer’s Bank on behalf of the buyer is committed to pay an agreed
amount of money to the seller under some agreed conditions.
� Contents of Letter of Credit
� Name of the Buyer
� Name of the Seller
� Moment of the Credit
� Trade Terms
� Tenor
� Expiration Date
� Documents Required
� Foreign Exchange Report
Import policy refers to government policies account for a particular fiscal period
envisaging the allocation of fund available from various sources for import of certain
quantity of certain goods. The main purpose of the policy is to conserve scare foreign
exchange & to ensure its utilization for the import of goods and services which have
national priority.
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� Flow Chart of Import Procedure
Fig-9: Flow Chart of Important Procedure
2. Exporter Agrees to Fill Order
6. Goods Shipped to Exporter Importer
Exporter Importer 14. Importer Bank Presents
Matured Draft & Gets Payment
8. Importer Bank Presents Draft to Exporter
9. Importer Bank Returns Accepted
13.
Importer
Pays Bank
12. Banks Tells
Importer Documents
7. Exporter
Presents Draft to
Bank
10&11. Exporter
Sells Draft to
Bank
3. Importer
Arranges for
L/C
5. Importer
Bank
Informs 4. Importer Bank Sends L/C to Exporter
1. Importer Order Goods
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� Letter of Authorization Form (LCAF)
The Letter Of Credit Authorization Form is the form prescribed for the authorization of
opening letter of credit or payment against import and used in lieu of import license. The
authorized dealers are empowered to issue LCA forms to the importers to allow import in
Bangladesh. If foreign exchange, it is intended to be bought from Bangladesh Bank
against a LCAF, it has to be registered with Bangladesh Bank’s Registration Unit.
� Importer Application for L/C Limit
The importer must have sufficient credit line for opening an L/C. In case the client does
not have approved credit line for opening an L/C the Manager of the branch takes
necessary arrangement to submit a proposal to the Credit Committee/Executive.
.L/C Application
L/C Application is a sort of arrangement between client and Bank. UCBL provides a
printed form for opening a L/C to the importer. Usually the importer expresses his desire
to open a L/C quoting the amount of margin in percentage.
� Scrutiny of L/C Application
On receipt of L/C application, the branch officials scrutinize the same very carefully
giving emphasis to the following:
� The terms and conditions of the L/C must be complete with UCPDC 500 and
Exchange Control & Import Trade Regulation.
� L/C application is stamped, as it is a guarantee of payment.
� Procedure
On receipt of a request letter for amendment of L/C from the customer the Bank takes the
following steps:
� Record the date and time of receipt of the application.
� Read the request letter for amendment briefly to ensure that concerned L/C
number and the instructions mentioned are clear.
� If found in order check the request letter for amendment together with all
supporting papers.
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� In case the letter of amendment is completed or required papers neither are nor
submitted, the customer should be contacted promptly for rectification of the
defects.
� In case the customers do not have approved credit line for increasing/amending
the L/C, the import section has to submit proposal to the Executive Committee of
the Board and keep pending of amending the L/C till its approval.
� When the request letter for amendment with all papers found to be in order,
record the particular of amendments with date in appropriate column against the
relevant L/C in the L/C register.
� Prepare the letter of amendment either in mail, SWIFT telex format.
� Foreign Exchange Export
According to Foreign Exchange Regulation Act, 1947, nobody can export by post and
otherwise any goods either directly or indirectly to any place outside Bangladesh, unless
a declaration is furnished by the exporter to the collector of customs or to such other
person as the Bangladesh Bank may specify in this behalf that foreign exchange.
� Back to Back Letter of Credit
Back-to-Back L/C is a secondary L/C opened by the seller’s Bank based on the
original/master L/C to purchase the raw materials and accessories for manufacturing of
the export products required by the seller.
� Post-Shipment Credit
Post-shipment Credit refers to the credit facilities extended to the exporters by
commercial Banks after shipment of the goods against export documents.
Banks in our country generally extend post-shipment credit to the exporters through:
� Negotiation of documents under Letter of Credit
� Purchase/Discount of DP and DA Bills
� Advances against Export Bills surrendered for collection
� Negotiation of documents under Letter of Credit
� Purchase/Discount of DP and DA Bills:.
� Advances against Bills for Collection:
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� Commission for collection:
Up to 1 lack ---------------------------------------------- 0.15%
Above 1 lack---------------------------------------------- 0.10%
Above 5lack ---------------------------------------------- 0.05%
Foreign Remittance
Foreign Remittance means purchase and sale of freely convertible foreign currencies as
admissible under Exchange Control Regulation of the country.
Fig-10: Foreign Remittance
� Foreign Inward Remittance
� Foreign Outward Remittance
Remittance which is made from our country to abroad is called foreign outward
remittance.
Foreign Bills Collection
The collection procedure is as follows:
� Entries in the FBC register and get a FBC number. This number will be on the bill
and be treated as reference no.
� Forward the bill along with a forwarding letter to the corresponding Bank. Send
the draft through courier service and keep a courier receipt in the file.
� Crossing on the bill indicating UCBL as a collecting Bank. Endorsement on the
back of the bill “Payee’s A/C will be credited on realization”.
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PART TWO: RESEARCH SECTION
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CHAPTER THREE: INTRODUCTION
3.1 Introduction
Job satisfaction or employee satisfaction is one of the most important factors in any
organization especially in serve competitive banking sector across the world. In the
development of information and communication technology (ICT), the fact of job
satisfaction is becoming more complex day by day. To cope with the changes and
upcoming challenges, organizations must identify the factors, which have profound
impact on organizational performance as well as job satisfaction.
3.2 Statement of the Problem
Job satisfaction has been defined as a general attitude toward one’s job (Huang, 1999).
Locke (1976) has defined job satisfaction as the pleasurable emotional state resulting
from the appraisal of one’s job or job experiences. Smith (1955) defined job satisfaction
as an employee’s judgment of how well his job has satisfied his various needs. But Locke
(1976) gave a more acceptable definition of job satisfaction. He defined job satisfaction
as the pleasurable emotional state resulting from the perception of one’s job as fulfilling
one’s important job values, providing these values are compatible with one’s needs. In
such situation, job satisfaction of bank executives becomes an important issue that has to
be taken care of in order to achieve ultimate goals of the banking sector in Bangladesh. It
is strongly affected the quality of service of the employees (Babakus, Yavas, Karatepe,
Avci, 2003).
Employee satisfaction is thought to be one of the primary requirements of a well run
organization and considered an imperative by all corporate managements. It is undeniable
fact that the future of business enterprise depends upon the satisfaction level of its
workforce. Dissatisfied workforces cause immediate problems only to their particular
businesses. Psychologists and sociologists have long been interested in the functions and
significance of job attitudes (Hoppock, 1935). Job satisfaction is a primary aspect of job
attitude. The most important evidence indicating the condition of the organization getting
worse is the low rate of job satisfaction (Kaya, 1995). Thus the job satisfaction is
essential pre-requisite for healthy organizational environment.
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3.3 Objectives of the Study
The main objectives of the study are
1. To ascertain the degree of overall job satisfaction prevailing among the bank officers.
2. To focus on the relative importance of job satisfaction.
3.4 Literature Review
A review of the literature on job satisfaction revealed that a number of researcher and HR
professionals have emphasized the importance of the factors affecting job satisfaction.
Job satisfaction involves different facets such as satisfaction with pay, promotion
opportunities, benefits, job security and the importance of the job (Nquye et, al., 2003).
The private banks specially created a cut throat competition by offering new products and
services to gain more market share. The employment patterns in the banking sector
changed the focus become performance and targets rather than experience and loyalty.
Hence, pay and job satisfaction becomes a primary factor for the banking employees
which needed attentions so as to achieve the long term goals of the bank (Islam & Saha).
Determinates such as pay, work itself, relationships with coworkers, supervision and
opportunities for promotions have been found to contribute to job satisfaction (Opkara,
2002). There is a significant difference in the job satisfaction levels of employees based
on their income (Yasir & Fawad 2009). Generally, employees with lowest earnings
reported lower levels of job satisfaction relative to other income groups. The Literature
indicates that the performance of the private and foreign banks have been stronger than
that of public sector banks (IBA, 2008). A study by Slevaraj (2009) states; private banks
were more successful then public sector in terms of implementing Total Quality
Management (TQM) initiatives, in context of HR, customer focus, and top management
commitment. Public sector banks structure compensation in a way such that there are
lower pay differentials between the employees, long-term tenure is rewarded and there is
a high base pay, whereas in the private sector banks, there are larger pay differentials,
fewer rewards for tenure, and pay for perf ormance (D'Souza, 2002). However, private
sector banks do not provide job security and would lay off their employees in cases of
poor performance or adverse market conditions (Jha, Gupta & Yadav, 2008).
A various studies have been conducted on the job satisfaction but a very few studies have
been done on the job satisfaction of private sector in Bangladesh’s socio – economic
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context especially in the banking sector. This research gap induced the author to
undertake the present study.
3.5 Significance of the Study
The study is significant for the following reasons:
2) This research may encourage further study including some new variables like this:
Performance appraisal, job analysis, good and safe working condition, Employee
relations, and so on;
3) This study will assist to enhance their understanding of the employee’s job
satisfaction;
4) It will also help them to make decisions regarding their HRM practices;
5) This study will help top management to craft their strategy regarding their HRM
practice.
3.6 Research Question
Our research question on the problems situation mentioned: is there a significance job
satisfaction prevailing among the employees of UCB ltd. in Bangladesh?
Based on psycho-social approaches to generate relevant research design and its proper
investigation this research question is very important to the policy makers of the bank and
to design appropriate policy and programs to promote banking services as well as
satisfaction among the employee of the UCB ltd. Bangladesh.
CONCEPTUAL FRAME WORK
Figure 11: Conceptual Framework of The impact of job satisfaction on Employees at United commercial
bank
Job satisfaction � promotions,
� salary,
� job security,
� Recognition
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3.7 Hypothesis
The following hypothesis are formulated for the study
Hypothesis-1: All factors (Salary, Recognition, Job Security and Benefit) are
significantly correlated with overall job satisfaction.
Hypothesis-2: All factors determine the job satisfaction is significant.
3.8 Relative Important Factors
Physical Environment Relation with co-worker and organizations practice and polices
can lead to overall job satisfaction. Previous studies shows that pay, promotion
opportunities, benefits, job security are the important factors for academic performance
of children in any society across the world. (Nquye et, al., 2003, Opkara, 2002).
Fig- 12: Relative Important Factors of Job Satisfaction
3.9 Limitations of the Study
1. The Survey is subjected to the bias and prejudices of the respondents. Hence
100% accuracy can’t be measured;
2. The researcher was carried out in a short span of time, where in the researcher
could not widen the study;
3. The study could not be generalized due to the fact that researcher adapted
personal interview method.
Pay
Promotion opportunities
Benefits and
Job security
Physical Environment
Relation with co-worker
and organizations practice
and polices
Job
Satisfaction
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CHAPTER FOUR: METHODOLOGY
4.1 Data Sources and Method
This study was conducted in Rajshahi district. In order to conduct this research United
Commercial Bank Ltd. Rajshahi branch of Bangladesh was purposefully selected for the
study area. In so doing 35 bank officers were purposefully selected for the study.
4.2 Variables and Measures
Overall satisfaction has been taken as a dependant variable and various other factors like
promotions, salary, job security, recognition, work environment etc are considered as the
independent variables. The main purpose of this study was to identify the job satisfaction
of the bank employees of the UCB Ltd. in Rajshahi, and to determine working hours,
team spirit, benefits, working environment and job security influence employee’s
perception regarding job satisfaction. Bank employees in this study refer to senior
executive officers, executive officers, and officers (not employees such as peons, guards,
drivers, cleaners, clerks etc). A questionnaire was developed, using 5-Scale Likert
(1=Highly dissatisfied, 2=Dissatisfied, 3=Somewhat satisfied, 4=satisfied, 5=Highly
satisfied) and was designed to test the impact of all the variables for this study. The
questionnaire was divided into 2 sections: demographics and job satisfaction. This is a
relative and qualitative study for which a tested questionnaire was used to identify
various outcomes of the study.
4.3 Instrument and Procedure
This study used survey design aimed to find out job satisfaction among the employees of
United Commercial Bank Ltd. Rajshahi branch Bangladesh. In so doing we used both
qualitative and quantitative variables. Based on the measurement of the independent and
dependent variables open-ended and close-ended questions was designed, following from
several studies. Interview technique with the questionnaire was applied for data
collection. According to the questionnaire every respondent of the bank was individually
asked for relevant answers.
Internship for this research was conducted from September 17 to November 19, 2012. In
order to collect real and valid data from the selected employees of the bank with the
questionnaire the researcher built up rapport with the respondents to create consciousness
about the research purposes and objectives, to make easy them for conversation and to
encourage them to active participation in the research. It continued until the completion
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of data collection. First month of the data collection period were used to build up rapport
with the respondents and the next half of the months were worked for data collection. The
necessary data were collected at lunch time when the respondents of the bank were
leisured. After completion the interview especial thanks were given to every employee
for further contact.
4.4 Statistical Tools
The statistical tools used for analyzing the data collected are percentage method, bar
diagrams and pie diagrams.
4.5 Analysis of Data
The data are collected through survey and books, reports, newspapers and internet etc.,
the survey conducted among the employees of UCBL Ltd. The data collected by the
researcher are tabulated and analyzed in such a way to make interpretations. Various
steps, which are required to fulfill the purpose, i.e., editing, coding, and tabulating. The
collected data are analyzed and interrupted using statistical tools and techniques.
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CHAPTER FIVE: RESULTS AND DISCUSSION
Table-1: Demographic Characteristics
Frequency Percentages (%)
Respondent’s Gender
Male 23 65.72
Female 12 34.28
Total 35 100
Respondent’s Working Experience
< 1 year 9 25.71
1-5 Years 10 28.57
6-10 years 10 28.57
11 to above 6 17.14
Total 35 100
Respondent’s Working Position
Top Executive 6 17.14
Senior Executive Officer 2 5.71
Executive Officer 17 48.57
Officer 5 14.25
Card Division 5 14.25
Total 35 100
Respondent’s Income Range (Monthly)
< 30000 Tk 15 42.85
30000-50000 3 8.58
50000-70000 11 31.42
More than 70000 6 17.14
Total 35 100
Tables I summarize the respondent organizations’ characteristics according to the
working experience in the current organization and working positions of the respondents.
The above table shows that 65.72% employees of the bank were male and only 34.28%
were female employees. Most of the employees’ working experience within 5 years
(54.28%). 6-10 years experience employees were 28.57% and 11 to above years were
only 17.14%.
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Fig 13: Respondent’s Working Position
The above chart-1 indicates that regarding the position of the of the employees of UCB at
Rajshahi branch, 49% were executive officer, 17% were top executive officer, card
division and officer were 14% and 6% were senior executive officer. So, most of the
employees of the bank were executive officers level.
Fig-14: Respondent’s Income Range (Monthly)
According to the above chart and table most of the employee’s salary range were <30000
Tk (43%), 50000-70000Tk were 31%, 30000-50000 Tk were 9% and more than 70000Tk
were 17%.
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Table-2: General Findings Related to Job Satisfaction
Frequency Percentages (%)
Salary matches with responsibilities and level of satisfaction
Highly dissatisfied 0 0
Dissatisfied 3 8.57
Somewhat satisfied 2 5.71
Satisfied 24 68.57
Highly satisfied 6 17.14
Total 35 100
Recognition for contribution and level of satisfaction
Highly dissatisfied 0 0
Dissatisfied 6 17.14
Somewhat satisfied 5 14.28
Satisfied 19 52.28
Highly satisfied 5 14.28
Total 35 100
Job security and level of satisfaction
Highly dissatisfied 2 5.71
Dissatisfied 4 11.42
Somewhat satisfied 6 17.14
Satisfied 11 31.42
Highly satisfied 12 34.28
Total 35 100
Benefits and level of satisfaction
Highly dissatisfied 2 5.71
Dissatisfied 2 5.71
Somewhat satisfied `1 2.85
Satisfied 20 57.14
Highly satisfied 10 28.56
Total 35 100
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According to the findings of the above table-2, most of the employees of the UCB were
satisfied for salary recognition, job security and benefit respectively 68.57%, 52.28%,
31.42% and 57.14%. Highly satisfied were 17.14%, 14.28%, 34.28% and 28.56%
respectively. On the other hand 8.57%, 17.14%, 11.42% and 5.71% were dissatisfied.
Among the dissatisfied employees, most of their positions in entry level like card
division. On the other hand, most of employees of the bank were satisfied for physical
environment of the bank, relationship with their co-workers and organization practice and
polices but not highly satisfied. According to the fact, we can assume that job satisfaction
among employees of the UCB is satisfactory.
RECOMMENDATIONS
It is quite difficult to give suggestion to improve the banking conditions of UCBL. I
have found during my internship can be made up taking into account the following
suggestions.
� Offers more facilities to the customers such as, more ATM booth etc.;
� General working conditions ought to be improved;
� Should increase the number of computers as well printers with proper UPS
facility;
� To speed up the Foreign Exchange works;
� Physical environment (space, infrastructure, furniture) need to be developed;
� In order to promote healthy environment of the bank, inter professional
relationship among the employees should be increased;
� Job security should be ensured for the employees of card division;
� Intrinsic reward is such a reward which is not visible and motivate employee
through recognition of their work, provide leave, career guidance and so on. And
extrinsic reward is such kind of reward which is visible or monetary reward like
benefits, compensation, pay for performance motivate employees of an
organization. So intrinsic and extrinsic reward should be established in order to
ensure job satisfaction among the employees of UCBL.
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CONCLUSION
In the conclusion of the analysis and observation during my internship period it can be
concluded that United Commercial Bank Limited is providing and maintaining pleasant
working environment for delivery of better quality services to maintain edge over the
competitors. At the same time it has been also found that United Commercial Bank Ltd.
is participating in the growth of our national economy with high quality, information
technology driven innovative services to its clients by its own dedicated team of
professionals. While concluding, it could be said that overall the job satisfaction among
the bank officers though is not very high but still satisfactory. But there is still
considerable room for improvements.
A STUDY OF JOB SATISFACTION OF BANK EMPLOYEES AT UNITED COMMERCIAL BANK LTD. BANGLADESH
Appendix-1
1. D'Souza, E. (2002). “Employment and human resource practices in public sector banks
in the nineties”, In Shuji
2. Hoppock, R. (1935). Job Satisfaction, Harper and Row, New York.
3. IBA (2008). Indian banking year book. Mumbai: Indian Banks' Association. Islam, N.U.,
& Saha, G.C. (n.d). “Job satisfaction of Bank Officers in Bangladesh.”
4. Jha, B. K., Gupta, S. L., & Yadav, P. (2008). “Use and effectiveness of new technologies
in Indian banking: A study”, The ICFAI Journal of Services Marketing, 6(1), 6–22.
5. Kaya, Ebru (1995). “Job Satisfaction of the Librarians in the Developing Countries”.
61st IFLA General Conference, Management Education and Practice in a Developing
Economy.
6. Locke, E.A. (1976). “The nature and causes of job satisfaction”, in Dunnette, M.D. (Ed.),
Handbook of Industrial and Organizational Psychology, Rand McNally, Chicago, IL,
pp.1297-1343.
7. Opkara, J. O. (2002). “The impact of salary differential on managerial job satisfaction: A
study of the gender gap and its implications for management education and practice in a
developing economy. The journal of Business in Developing Nations, 65-92.
8. Selvaraj, M. (2009). “Total quality management in Indian commercial banks: A
comparative study”, Journal of Marketing and Communication, 4(3), 59–70.
9. Yasir, K., and Fawad, H., (2009). “Pay and Job Satisfaction: A Comparative Analysis of
Different Pakistani Commercial Banks”. Munich Personal RePEc Archive, paper No.160
59.pp. 1-20.
10. www.ucbl.com
11. www.bangladesh-bank.org
12. www.wikipedia.com
References
A STUDY OF JOB SATISFACTION OF BANK EMPLOYEES AT UNITED COMMERCIAL BANK LTD. BANGLADESH
QUESTIONNAIRE
Appendix-2
A STUDY OF JOB SATISFACTION OF BANK EMPLOYEES AT UNITED COMMERCIAL
BANK LTD. BANGLADESH
Respondents Name…………………………………………………………...Age…………….
Organization Name………………………………………………….
A. General Information
1. Gender of the Respondents: Male Female
2. Total Number of year in this organization of the Respondents:
Less than1 1-5 6-10 Above 11
3. Respondents Working Position:
Top Executive Senior Executive Officer Executive Officer
Officer Card Division
4. Respondents Income Range (Monthly):
Less than 30000Tk 30000-50000TK 50000-70000Tk
More than 70000Tk
B. For the questions that follow and used the following scale which are stated below:
Highly dissatisfied-1,Dissatisfied-2, Somewhat satisfied-3, Satisfied-4, Highly satisfied-5
1 2 3 4 5
1 Salary matches with responsibilities and level of satisfaction
2 Recognition for contribution and level of satisfaction
3 Job security and level of satisfaction
4 Benefits and level of satisfaction
5 Physical environment of the bank
6 Relationship with the co-workers
7 Organizational practice and polices