Transcript
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Virtual university of Pakistan
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Askari Commercial Bank Askari Commercial Bank limited Rahim-Yar-Khan limited Rahim-Yar-Khan
BranchBranch
Internship report
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Brief introduction of organizationBrief introduction of organization
Askari Bank Ltd was incorporated in Pakistan on October 9, 1991, as a Public Limited Company. It started its operations during April 1, 1992.
Askari Bank Established on July 26,1996 in R.Y.K.
The bank principally deals with banking, as defined in the Banking Companies Ordinance, 1962.
The Bank is listed on the Karachi, Lahore & Islamabad Stock Exchanges ACBL has one hundred eigth [108] branches in the pakistan and 6808 six thousand eight hundred employee
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Business VolumeBusiness Volume
Assets in 2008 206.7 billion Rupees
Deposits in 2008 167.7 billion Rupees
Advances in 2008 128.8 billion Rupees
Guarantees in 2008 55.8 billion Rupees
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Competitors of the organizationCompetitors of the organizationPublic Sector bankPublic Sector bank Metropolitan Bank Ltd
First Women Bank Ltd Foreign BanksForeign Banks
National Bank of Pakistan Standard Chartered Bank
The Bank of Punjab Specialized BanksSpecialized Banks
Local Private BanksLocal Private Banks Zarai Traqiati Bank Ltd
Allied Bank Ltd
Bank Al-Falah Ltd
Faysal Bank Ltd
KASB Bank Ltd
Soneri Bank Ltd
Saudi-Pak Commercial Bank
Meezan Bank Ltd
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Organization Hierarchy Chart
Chairman
Chairman Executive Committee
Director
Director (NIT Nominee)
President & Chief Executive
Company Secretary
Sourcehttp://www.askaribank.com.pk/corporateinfo.phphttp://www.askaribank.com.pk/corporateinfo.php
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Customer Service
Clearing
Cash
Remittances I.T
Credit
Account
Marketing
Branch Manager
Organization Hierarchy Chart
Askari commercialBank Limited
R.Y.KhanOperational Manager
Departments
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Training ProgramTraining Program
I was selected to do my internship in Askari commercial bank limited. I follow the training program in these department
Customer Service
Account Department
Clearing Department
Cash Department
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Customer Service DepartmentCustomer Service DepartmentI worked two weeks in customer service department of ACBL Ashrif complex model town R.Y.K during the period the task which is assigned to me is given below
Give information about different product and service to customer
Account openingProvide service to customer such as filling the cheque
or voucherIssuing the cheque book Issue Debit card and credit card Locker record keeping Computerize record keeping of utility bills and other
collection
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Account DepartmentAccount Department
I worked one and half weak in account department of ACBL Ashrif complex model town R.Y.K during the period the task which is assigned to me is given below
At the day end all the vouchers passed by various officers working in different departments are given to Accounts Department I was sort it and compare it to the computer generated report to check the error and maintain the physical record
Record daily expense incurred by the bank
Sort the vouchers of different types of accounts in account department
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Clearing DepartmentClearing DepartmentI worked one and half weak in clearing department of ACBL Ashrif complex model town R.Y.K during the period the task which is assigned to me is given below
Collect cheque of different bank for clearing
Issued unclear cheque to customer on demand
Record the inward cheque to inward register
Record the outward cheque to outward register
Attach the memo with unclear cheque with reason
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Cash DepartmentCash DepartmentDue to leave of cashier I worked ten days in cash department of ACBL Ashrif complex model town R.Y.K There is no policy of organization to work the interne in cash department due to security reason During the period the task which is assigned to me is given below
Record the transaction on registerVerification of signature Separate new and old notes sort it and make copies of
thousand lack Write the amount in number backside of voucher
before depositing to cashier Check suspect note through machine
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Marketing departments in Askari bankMarketing departments in Askari bank
Branch manager operational manager and B.D.O are practically involved in the marketing and all thesedepartment which is given below
Auto finance department
Customer service department
Agriculture department
Consumer finance department
Business development officer
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Marketing
Mehboob QamarBranch Manager
Department Tariq Mehmood
Operational Manager
Customer Service Department
Credit Department
Auto Finance Department
Consumer Finance Department
Amir Rehmani
Muss Saima
Salman Head Of credit Department
Amira Rasheed Jounior officer
Amir AkhterJunior officer
Ahsan Head of Auto Finance Department
Muhammad NaeemJunior officer
Arshad HeadOf CF Department
Imran AslamBDO
AgricultureDepartment
Ali Head of Agriculture Dept
Mouzam AliGrade 1 officer
Amir AktherJounir officer
Marketing Departments HierarchyMarketing Departments Hierarchy
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Functions of Marketing DepartmentFunctions of Marketing Department Segmentation Strategy
Askari commercial bank limited segment their market geographical demographic and Niche marketing
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Target market StrategyTarget market Strategy
All Army related institutionAll agriculture related communitiesCustomer desires different loan School college and business industries Financial investorConsumer having interested to purchase on leasingReligious group interested in Islamic Banking Group of people needs to get banking services such as utility bills collector
The goal of ACBL is reach a subset of the population who may be interested in product after the segmentation a group of people with similar need is grouped together The target market of ACBL is
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Product planning, development & Product planning, development &
managementmanagement The planning of the new product is done at head
office of ACBL and the management decides when the product is launched
The head office launch new products and services for the customers
The management in the head office see the success and failure of different types of products and managed the product
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PositioningPositioning
Positioning of the product is to create the unique position in the mind of target market as compared to others competitors in the market
To create strong positioning in the target market ACBL use different promotional strategies such like advertisement banner public relation publicity and social marketing
ACBL create strong positioning through competitive product offering
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Pricing StrategyPricing StrategyPrice is the only p which generate revenue for the organization Askari commercial bank use different price strategies for different product Product & Service
Strategy Detail
Kissan Tractor Finance
Cost-plus pricing
Price = Cost of Production + Margin of Profit.
Electronic Bill Payment Services
Market-oriented pricing
Setting a price based upon analysis and research compiled from the targeted market. Also with the cost price
Personnel finance
Price discrimination
Charge different price for civilian customer and army customer
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Distribution StrategyDistribution Strategy
Askri commercial bank use its own distribution channel to promote their product
when any product is lunched by Askari commercial bank to make the product available to final user it is distributed to its all branches
ACBL has one fifty branches world wide and one hundred eight in Pakistan where customer can avail p/s
Askari Bank has expanded into a nationwide presence of 150 branches, and an offshore banking Unit in Bahrain.
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Promotional Strategy Promotional Strategy To promote their product ACBL use following promotional strategies
Advertisement BroacherBill board InternetSocial marketingPublicityPublic relation
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Structure of Sales DepartmentStructure of Sales Department
Sale departments are back bone for any organization it is only the department which generate the revenue for the organization
Following are the sale department in ACBL
Auto financing Department
Agriculture Department
Consumer finance Department
Credit department
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Number of employee working in Sale Department
Department Name Number of employee
Agriculture Department 3
Credit Department 3
Auto finance Department 2
Consumer Finance Department 1
Customer Service Department 2
Total number of employee 11
Sale departments are performed sale operation in ACBL
After the marketing of product sale department perform the sale operation applying the principle of customer relationship management
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Functions of Sales Department Functions of Sales Department No organization exist without sale department the success of any organization depends on success of this department
The function of sale department is to sell the product and service of the organization
After the procedure of the marketing these departments give the product to customers finally
It appoints sale representative and canvas to increase sale such as B.D.O
It provide after sale service
It advise the top management about sale policies
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Customer Services Department Customer Services Department
Customer Service Department is the provision of service to customers before, during and after a purchase
Customer service is a series of activities designed to enhance the level of customer satisfaction
In ACBL customer service department contact with customer time to time for providing latest updates in any problem the customer face. They develop good relationship with customer through proper communication and through their friendly behavior with customers.
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Critical AnalysisCritical AnalysisTrain staff with latest IT tool and knowledgeMotivation tool are not followed by ACBLHigh chargesNo job specialization and specification Ignoring the customer needShort number of employees and branches ACBL has different product that is running successfully it is not possible give a brief detail of Askari products which are running successfully some of them given as follow with reason of success
Current account [business transaction]Saving account [pensioner] Askari special deposit account [student]Debit card ATM card and credit cardAskari Rupee traveler cheque
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ACBL has different product for their target customer each has its own demand Due to high inflation the state bank of Pakistan has increase the interest rate to control the supply of money due to increase in interest rate credit ,auto finance and consumer fiancé is affected because the interest is high people avoid to get the product which are effected are
Askari car Kissan Tractor Finance Personal Finance Mortgage FinanceBusiness FinanceSmart Cash
Critical AnalysisCritical Analysis
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Future prospects of the organizationFuture prospects of the organization
According to my point of view Future prospect of the organization is bright
The financial condition of ACBL is so strong
In 2008, ACBL has given “The Best Retail Banking Award 2008” by Pakistan Guarantee Export Corporation Ltd.
The customer are loyal toward the organization
The bank has strong identity in the mind of consumer through its brand characteristics and convince service which give him competitive edge
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Strength of ACBLStrength of ACBLStrengths are internal attributes of ACBL that are helpful
to achieving the objective
1)Financial Strength
2)Leading private sector bank
3)Ethical concern and public image Automatic operation
4)Online Banking
5)Good dynamic environment
6)Full day banking
7)ATM network
8)Electronic Banking
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Weakness of ACBLWeakness of ACBL
Weaknesses are internal attributes of ACBL that are harmful to achieving the objective.
1)Lower number of Branches
2)Short number of employee
3)Low job specialization
4)Low job satisfaction
5)Centralization
6)Weak customer handling
7)Inside recruitment no merit
8)Lack of training faculties
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Opportunities for ACBLOpportunities for ACBL
Opportunities are external conditions or environmental factor that are helpful to achieving the objective.
1)Promote Islamic Banking
2)A large amount of foreign investment is attracted
3)Steady increase in Customer Deposits
4)Open branches in rural Areas
5)Technological Improvements
6)Use ATM as a credit card
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Threat of ACBLThreat of ACBL
1)High charges
2)Strong competition
3)Legal regulation
4)Higher expenses
5)Economic Environment
6)High rate of inflation
7)Less experienced Staff
Threats are external conditions or environment factor which could do damage to the business's performance
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ConclusionConclusionAfter the completion the internship report I draw the following conclusion
1.Weak customer handling
2.ACBL’s pay large amount on administration cast
3.Low number of branches and employee
4. Lack of specialization
5. No job specification
6. Lack of training facilities
7. No proper marketing for products
8. No proper HR department
9. Need of new staff
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RecommendationsRecommendations
Increase number of branchesJob securityPermanent Hiring Increase number of employee Decentralize decision making Adoption of flexible policies Job training program Flexible policies Revival charges
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