askari bank2

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INTERNSHIP REPORT

JINNAH COLLEGE MANSEHRA

1

INTERNSHIP REPORT

INTERNSHIP REPORT ON ASKARI BANK LIMITED


SUBMITTED BY: WAQAS

BBA (HONS)

1014


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SESSION: 2009-2013


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SUBMITTED BY: WAQAS

BBA

1014

YEAR OF SUBMISSION: 2013

SUPERVISOR: UBAID UR REHMAN

REGISTRAR: ZAMEER MURAD


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DECLARATION

An internship report submitted to the department of Management Sciences Jinnah

College Mansehra, in partial fulfillment of the requirement for the degree of BBA.


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DEDICATION

I dedicate my Internship Report to my Parents who really support me in everyfield of life and finally make me able to complete such a lengthy and complicated

project.


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Preface

The main purpose of the internship is to fulfill the academic requirements of my study. It

encourages learning with emphasis on assigned project. Beside this, the other purpose is to give

a comprehensive review of ACBL (Askari Commercial Bank limited). The most important

point in an internship Program is that the student should spend their time in a true manner and

with the spirit to learn partial orientation of theoretical study framework. This report is about

my internship that I have undergone at Askari Commercial Bank Limited Mansehra Branch

from 16 July to_________. During my internship I am able to learn practical aspect of business,

and get good working experience.


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Table of contents

Chapter

No

Topic s Page

No

1 INTRODUCTION

History and Background

Business Philosophy

Vision Statement/ Mission Statement

Market Standing

2 Management System

Organization Chart

Corporate Profile

Management Hierarchy

Policy Formation Process

Managerial Policies

3 Marketing Mix

Product

Price

Place

Promotion

Publicity

4 Financial Statement Analysis

Horizontal Analysis

Vertical Analysis

Financial Ratio Analysis

5 SWOT ANALYSIS


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Strength

Weaknesses

Opportunities

Threats

6 TRANNING PROGRAME

Division or Department detail

Activities of intern

Projects assignments Completed

7 PROBLEMS AND PRCOMMENDATIONS

CONCLUSION

List of annexure


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EXECUTIVE SUMMARY

ACBL was incorporated in Pakistan on October 9, 1991. It started its operation during April 1,

1992 and in the 15 Year since; its growth and success patterns have far outgrown industry

standards. Each year ACBL recruit and hires a number of undergraduate and graduate interns to

work in various positions throughout the organization. Internship have been part and parcel of

ACBLs history, offering a streamlined and comprehensive internship Programs. In this report I

have tried to mention all the aspects of ACBL are banking operations.


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CHAPTER: 1

INTRODUCTION

History and BackgroundBusiness PhilosophyVision statement/ Mission statementMarket Standing


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EVALUATION OF BANKING

Bank is a pipeline through which currency moves into and out of circulation.

Bank accepts deposits and repays cash to its customers on their demand. The bank borrows

money at lesser rate of interest and lends it to the borrowers at a higher rate. It is thus a profit-

lending concern. Word Bank is said to be derived from the words Bancus or Banque that means

a bench. Other authorities hold the opinion that the word Bank from German word Back

which means joint stock fund. Later on, when the Germans occupied major part of Italy, the

word Back was Italianized into Bank (Aslam, 1999)

It is therefore, not possible to decide as to which of the opinions is correct, for no record is

available to ascertain the validity of any of the opinion.

EARLY GROWTH:

The history of banking is tracked to as early as 2000 BC. The priests in Greece used to keep

money and valuables of the people in temples. These priests thus acted as financial agents. The

origin of banking is also traced to early goldsmith. They used to keep strong safes for storing

the money and valuables of the people. The persons who had surplus money funded It safes and

convenient to deposit their valuables with them.

BANKING IN PAKISTAN

At the time of partition total number of Bankers was 38 only. Out of these Banks the Pakistan

were only 2, Indian Banks 29 and Exchange Banks were 7. The total of deposits of Pakistani

banks was Rs. 880 Million. And advances were Rs. 198 Million. Banking started in Pakistan

after the bold and emergent decisions of formulation of SBP on July 30, 1948. At the time of

independence Bank services was badly affected. But with the passage of time these are

improving. The government of Pakistan nationalized all Banks of Pakistan in early 1974. Two

Banks (Allied Bank of Pakistan and Muslim Commercial Bank of Pakistan Limited) have been

denationalized. Since then Banks were working well. Now slogan of the Banks is to serve

their customers n the best possible manner.


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HISTORY AND BACKGROUND:

Askari Bank was incorporated in Pakistan on October 9, 1991, as a public limited company. It

commenced operation on April 1, 1992, and is principally engaged in the business of banking,as defined in the Banking Companies Ordinance, 1962. The Bank is listed on Karachi, Lahore

and Islamabad Stock Exchanges.

Since inception, the bank has concentrated on growth through improving service quality,

investment in technology and people, utilizing its extensive branch network which includes

Islamic and Agricultural banking.

Corporate Social Responsibility is an integral part of the way we do business. In order to fulfillour CSR objectives, we attempt to promote public interest by encouraging community growth

and development through sponsoring social service events, supporting education, sports, and

environment and also contribute in socio-cultural activities.

AWARDS AND ACHIEVEMENTS

Best Retail Bank in Pakistan by The Asian Banker.

"1st Consumer Choice Award" by the Consumer Association of Pakistan. 2004

"Corporate Excellence Award" by the Management Association of Pakistan (MAP).

2002, 2003 & 2004.

The Best Bank in Pakistan by Global Finance magazine. 2001 and 2002.

Best Consumer Internet Bank Global Finance magazine. 2002 and 2003.

"Euro money and Asia money Awards" 1994, 1996 and 1997.

Best Presented Annual Accountsby (ICAP) and (ICAMP). 2000, 2001and 2002.

The Best Presented Annual Accounts by South Asian Federation of Accountants

(SAFA), in the SAARC region.

The Best Consumer Banking Award 2006by the Consumer Association of Pakistan.

2007

The Best Retail Banking Award 2008 by Pakistan Guarantee Export Corporation Ltd.

2008


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"Best Corporate Report Award for the year 2008" by ICAP & ICMAP. 2008

"The Best Annual Report Award for the year 2010" by ICAP & ICMAP.

"The Best Presented Accounts Award 2010 - 2nd Runner Up-Joint" by South Asian

Federation of Accountants.

FUNCTIONS OF ACBL:

ACBL is a commercial bank, which transacts the business of banking in accordance with the

provisions of BCO, 1962. Section 7 of the Act authorized Banks to engage in the prescribed

form of business. In the light of this ACBLs functions can be categorized as under:

Agency services General utility services Underwriting of loans raised by the government Providing specialized services to customers Accepting deposits

MISSION STATEMENT:

As it is that an organizations culture, products, services. Employees, their attitude,

philosophy, self-concept, market and environment throws light on the corporate mission, so

one of the business executive at the banks, based on his personal observation and judgment,

carved the following mission of the Askari Bank Limited as

The Mission Statement of the Bank:

To be the leading private sector bank in Pakistan with an international presence,

deli ver ing qual ity services through innovative technology and effective resource

management in modern and progressive organization standards, while providing enhanced

value to all their stakeholders and contr ibuting to society

CORE VALUE


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We understand that our commitment to satisfy customers need must be fulfilled within a

professional and ethical framework. We subscribe to a culture of high ethical standards, based

on the development tents of our organizationthey very small sent of guiding principles that

have a profound impact on how everyone in the organization thinks and acts. They have an

intrinsic value for us and bear significant importance to all our employees. They are the few

extremely powerful guiding principles; the soul of the organizationthe values that guide all

our actions.

The intrinsic values, which are the corner stones of our corporate behavior, are:

Commitment Integrity Fairness Team-work Service

Vision:

To be the bank of first chpice

CORPORATE PHILOSOPHY:

From knowing our customers requirements to understanding employee need, from utilizing

modern technology to making responsible social contributions, from enhancing stake-holders

value to practicing corporate ethics. We are continuously and consistently striving to address

newer challenges with a single motivation: the power to inspire and be inspired

OBJECTIVES:

Deliver solutions that meet customer financial needs Build and sustain a high performance culture Build trusted relationships with all stakeholders Build and manage the Banks portfolio of business to achieve strong and sustainable

shareholder return.


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Create and leverage assets and capabilities for competitive advantage. To facilitate the Bank with modern Banking technique To accelerate commercial activities and capture large market share.

Code of Business Principle:

Our Code of Business Principles is to:

Deliver solutions that meet customers financial needs Build and sustain a high performance culture Build trusted relationships with all stakeholders Build and manage the Banks portfolio of Business to achieve strong and sustainable

shareholders returns

Create and leverage strategic assets and capabilities for competitive advantageCORPORATE OBJECITVES:

To achieve sustained growth and profitability in all areas of business. To build and sustain a high performance culture, with a improvement focus. To develop a customer-service oriented culture with special emphasis on customer

care and convenience.

To build an enabling environment, where employees are motivated to contribute totheir full potential.

To effectively manage and mitigate all kind of risks inherent in the banking business. To optimize the Banks portfolio of business to achieve a strong and sustainable

shareholder returns and to continuously build shareholder value.

To deliver timely solution that best meets the customers financial needs. To explore new avenues for growth and profitability.STRATEGIC PLANNING

To comprehensively plan for the future to ensure sustained growth and profitability. To facilitate alignment of the vision Mission Corporate Objectives with the business.To provide strategic initiatives and solutions for projects, products, policies and

Procedures.


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To provide strategic solutions to strengthen weak areas and to counter threats to profits.To identify strategic initiatives and opportunities for profit.To crate and leverage strategic assets and capabilities for competitive advantage.

CODE FO ETHCS AND CONDUCT:

Askari Banks seeks to maintain high standards of service and ethics enabling it to be

perceived as impartial, ethical and independent. In addition to the general guidelines,

the following are the salient features of the Banks code of ethics conduct.

Presence of a corporate culture that seeks to create an environment where allemployees are treated equitably and with respect.

Employee must carry out their responsibilities in a professional manner at alltimes. They must act in a prudent manner and must avoid situations that could

reflect unfavorably on themselves, the Bank or its customers.

Employees must commit to the continued development of the service culture inwhich the Bank consistently seeks to exceed customers expectations. Fairness.

Truthfulness and transparency govern our customer relationships in determining the

transactional terms, conditions, rights and obligations.

Employees must safeguard confident information which may come to theirpossession during the discharge of responsibilities. Respect for customer

confidential matters. Merits the same care as does the protection of the Banks

own affairs or other interests.

Employees must ensure that know your customer principle are adhered to byobtaining sufficient information about the customers to reasonably satisfy

ourselves as to their reputation, standing and the nature of their business

activities.


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Employees must avoid circumstances in which their personal interest conflicts,or may appear to conflict, with the interest of Bank or its customers. Employees

must never use their position in the Bank to obtain personal advantage or gain.

Employee must not enter into an agreement understanding or arrangement withany competitor with respect to pricing of services, profile rates and marketing

policies, which may adversely affect the Banks business.

Employee must not accept gifts, business entertainment or other benefits from acustomer or supplier/ vender which appear or may appear to compromise as

commercial or business relationship.

Employee must remain alert and vigilant with respect to frauds, thefts or illegalactivities committed within the Bank premises.

MARKET STANDING OF ASKARI BANK:

ACBL have A1+, the highest possible credit rating, for short term obligations,

and their long term rating stands at AA+ by PACRA (Pakistan credit rating

agency). The rating specifies a very high credit quality and very strong capacity

for timely payment of financial commitments.

DIFINITIONS BY PAKISTAN CREDIT RATING AGENCY LIMITED

(PACRA):

Very high credit quality. AA denotes a very low expectation of credit risk.

They indicate very strong capacity for timely payment of financial

commitments. This capacity is not significant vulnerable to foreseeable events.

Obligations supported by the highest capacity for timely repayment.


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ORGANIZATIONAL CHART:

Board of directors

President & ChiefExecutive

Group Head Corp.

Banking

& Financial institution

Corporate Banking

Merchant Banking

International

treasury

Group Headoperations & Credit

Credit

Electronic Technology

System& Operations

Legal Affairs

Regions / Areas

Group Head RetailBanking

Investment

Products

Assets Products

Credit Cards

Executive Committee


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CORPORATE PROFILE

BOARD OF DIRECTORS

Lt Gen Muhammad Mustafa Khan, HI (M) (Retd)Chairman - Board of Directors

Lt Gen Muhammad Zaki,HI, HI (M) (Retd)

Director

Lt Gen Naeem Khalid Lodhi, HI (M) (Retd)Director

Mr. Qaiser JavedDirector

Dr. Nadeem InayatDirector

Khawaja Jalaluddin RoomiDirector

Mr. Manzoor Ahmed (NIT)Director

Mr. Asif Reza SanaDirector

Syed Majeedullah Husaini - President & CE Mr. M. A. Ghazali Marghoob

Company Secretary

AUDIT COMMIT

Mr. Qaiser JavedChairman BAC

Dr. Nadeem InayatMember BAC

COMPANY SECRETARY

Mr. M. A. Ghazali Marghoob
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CHIEF FINANCIAL OFFICER:

Mr. Saleem Anwar, FCA.Auditors:

AF. Fergus & Co Chartered Accountants.LEGAL ADVISORS

Rizvi, Isa, Afridi & Angell Dr. Muhammad Tahir Mansoori Legal Advisors


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CORPORATE INFORMATION

Lt Gen Muhammad Mustafa Khan, HI (M) (Retd)Chairman - Board of Directo

Lt Gen Muhammad Zaki,HI, HI (M) (Retd)

Director

Lt Gen Naeem Khalid Lodhi, HI (M) (Retd)Director

Mr. Qaiser JavedDirector

Dr. Nadeem InayatDirector

Khawaja Jalaluddin RoomiDirector

Mr. Manzoor Ahmed (NIT)Director

Mr. Asif Reza SanaDirector

Syed Majeedullah Husaini - President & CE

Mr. M. A. Ghazali Marghoob

Company Secretary


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EXECUTIVE PROFILE

Mr. Haseeb Saulat

Senior Executive Vice President

Group Head - Branch Banking

Mr. Haseeb Saulat is currently holding the position of Group Head, Branch Banking.

Mr. Saulat possesses a rich Banking experience of more than 22 years starting from 1985 at

BCCI as Incharge General Banking. He joined Askari Bank in 1992 and served at key

managerial positions. When he was serving as Chief Manager at Blue Area Branch, Askari Bank

undertook its Restructuring & Change Management Program under which he was elevated toArea Manager-Islamabad position in 2007.

He is a business graduate from Greenwich University, Lahore. He has attended a number of

foreign and local training courses.

Mr. Farrukh Iqbal Khan

EVP/Chief Credit Officer

Mr. Farrukh Iqbal joined Askari Bank in February 2010 as EVP/Head of Audit & Inspection

Division and is currently holding the position of 'Chief Credit Officer'. He caries diversified

banking experience of 20 years. He started his professional career with State Bank of Pakistan in

1993 and later on also served as Head of Audit in KASB Bank Limited from January 2004 to

2010.

Academically he is CISA & CICA qualified, holds Banking Diploma from IBP and has done

Masters in Business Administration. He has also got Certificate of Directors Education fromPakistan Institute of Corporate Governance and serving as nominee Director on the Boards of

'askari general insurance' and 'Askari Investment Management Limited'. He has attended number

of training courses during his service.


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Mr. Khurshid Zafar

EVP/ Group HeadCorporate & Investment Banking Group

Mr. Khurshid Zafar is presently designated as Group Head- Corporate and Investment BankingGroup. He joined Askari Bank Limited in July 2010 and served on key positions including

Regional General Manager South and as Group Head- Commercial Banking. Mr. Khurshid

possesses a vast experience of over 23 years in the field of Corporate, Investment Banking,

Retail and Commercial Banking.

He has served in various Investment and Commercial Banks at senior positions and has attended

number of local and foreign training courses. He holds an MBA Degree from Quaid-e-Azam

University, Islamabad.

Mr. Saleem Anwar

EVP/Chief Financial Officer

Mr. Saleem Anwar, Chief Financial Officer (CFO) has extensive experience spanning over 20

years in the fields of finance, taxation, audit, planning & corporate affairs in Pakistan & abroad.

He joined Askari Bank in June 2008 as head of strategic planning and company secretary and

was later assigned the role of CFO in April 2009.

After completing his training from M/s Price Waterhouse Coopers, Chartered Accountants, he

joined Al Faysal Investment Bank Limited in 1992 where he worked till 2001 as vice president.

Later, he served Faysal Bank as Financial Controller. Prior to joining Askari Bank, he served as

head of finance and special projects for Islamic banking initiative of Mashreq Bank, Dubai, and

UAE.

Mr. Anwar is a fellow member of the Institute of Chartered Accountants of Pakistan. He has

participated in various professional training courses / seminars in Pakistan and abroad.


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Mr. Abdus Samad Khan

EVP/Executive InchargePSO & Country Head - HRD

Mr. Abdus Samad Khan has joined Askari Bank as Executive Vice President and ExecutiveIncharge in May 2012. He was given additional charge of Country Head HRD in October

2012.

Mr. Samad holds an MBA Degree and is a Diploma Associate of the Institute of Bankers in

Pakistan. He has been director on the Boards of Commercial Bank/Investment

Bank/AMCS/Leasing and Insurance companies and remained a member on the Board of

Governors of Sarhad University at Peshawar. He has attended a number of local & foreign

training courses, workshops and seminars.

He possesses diversified banking experience spanning over 33 years in the field of Commercial,

Corporate, Treasury and Investment Banking. He started his career in 1978 with Habib Bank

Limited and within few years was posted overseas at Bahrain to Head the Offshore Banking Unit

of HBL. In 1993 he became the Treasurer of HBL during which he founded the FMA (Financial

Markets Association of Pakistan).

In 1998 he joined Saudi Pak Industrial & Agricultural Investment Company Limited as EVP and

Country Head Treasury & Capital Markets. He also served at Capital Development Authority for

two years as Head of Investment Management with the status of Member.

Prior to joining Askari Bank he was the Chief Executive Officer of First Dawood Investment

Bank Limited.

Mr. Rehan Mir

EVP/Global Treasurer

Mr. Rehan Mir joined the Bank in January 1995 and is presently designated as the Global

Treasurer at Treasury Division since December 2008. Before his designation as Global Treasure,

he worked on different important assignments in the Treasury.


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Mr. Mir holds a graduate degree from the University of the Punjab, Lahore. During his Bankingcareer, he has attended a number of foreign and local training courses on treasury and Foreign

Exchange operations.

He possesses over 34 years of rich Banking experience mainly comprised of treasury operations,money market and foreign exchange operations. He started his professional career in 1978 with

UBL as a Trainee Officer and later on switched to Askari Bank Limited in 1995.

Mr. Waqar ul Islam

EVP/Regional General Manager - South

Mr. Waqar Ul Islam is an MBA from IBA Karachi. He is a seasoned international banker with a

professional experience of 37 years including 26 years with Swiss financial institutions where he

has also served as member of Management Committee of a Swiss Bank.

Mr. Waqar is an expert in Credits, Treasury and Risk Management with experience of setting up

business and rolling out branches. He has an excellent track record in soliciting and developing

new business for financial Institutions in UK, Luxembourg, Bahrain, UAE, Cayman Islands and

Pakistan.

Mr. Waqar started his career in 1976 with BCCI Karachi and was posted to Central Credit

Division in London.

Mr. Waqar joined Banque de Commerce et de Placements (BCP), Geneva in Dec 1982 and

served this Bank for 23 years in Luxembourg and Bahrain as Country Manager. He successfully

set up the dealing room in Luxembourg. In addition to Treasury business, he successfully

developed Private Banking & Correspondent Banking business for Luxembourg and Bahrain

branches.

He successfully set up Askari Bank OBU operations in Bahrain in 2003 and served as Senior

Vice President and General Manager.

Mr. Waqar joined Fortis Banque (Suisse) SA, Dubai office in 2005 as the Vice President & Head

of Private Banking - Pakistan desk. He also served as Advisor to the CEO of Equitable

Management Consultants, Dubai for two years.


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Mr. Waqar also served as Head- Risk Management Division at KASB Bank for 6 months prior to

joining AKBL as EVP/ RGMSouth from 1st July 2013.


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ORGANIZATIONAL HIERARCHY

PRESIDENT

Senior Executive VicePresident

Executive VicePresident

Senior Vice President

Vice President

Assistant VicePresident

Branch Manager

Assistant Manager

Operations Manager

Officer Grade 1

Clerical Staff : CashierTypiest & Clerks

Non Clerical Staff:Guards & Peaon


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Managerial Policies:

A. Financial policiesB. Procurement policiesC. Marketing policiesD. Promotion policiesE. Lending policiesF. Personal policies

FINANCIAL POLICIES

The financial policies of any bank are the most important policies through which the whole

banking activities is conducted. These policies are primarily conducted on:

Sources of Funds Use of Funds

SOURCE OF FUNDS

The bank finance policy is acquiring funds from the following sources:

Deposits of Accounts holders Interest on advances and loans granted to the borrowers. Income and commission from the services provided by the bank. Bank opens various types of accounts for its customers services are provided for earning. Interest income and commission bank providing the services to its customer.

USE OF FUNDS:

After the acquisition of the funds their acquisitions becomes necessary. The bank seeks the best

way for making investment to get more profit with the maximum security. The bank has an

investment portfolio in which it allocate its funds for crediting to borrows, investment in the

stock market, investment in the real estate property etc. For the allocation of funds a bank has to

follow some banking policies and the prudential regulations of SBP these are:


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A bank has to maintain liquidity with state bank of Pakistan, i.e. 25% of its total deposits. A bank cannot invest all of its funds otherwise it will be difficult to meet urgent needs. A substantial part of funds received from interest on loans and advances. Before granting

a loan the bank analyzes and observes the major thing is granting an advance is the

security offered by the borrower and its actual market value.

PROCUTEMENT POLICIES

Procurement policies are more concerned with manufacturing organization. In bank industry that

is service industry procurement means the procurement of funds from various sources such as

deposits. It involves attracting and holding the funds of the depositors. After the acquisition of

funds, the bank invest the acquire funds. One alternative is to lend its money and earned interest

markup or invest in govt. securities etc. as already mentioned in the above paragraph the major

source of funds for a bank the deposit of the general and the other sources of income includes

interest or markup charges received for various services offered by the bank to its clients.

The bank tries to attract maximum no of accounts so that it can increase its deposits and these

lending ability. In order to get maximum no of accounts the staff of bank must be efficient as

compared to the other banks and the manager of the branch must take personal interest in

attracting deposits. Good quality of the service is the key success.

MARKETING POLICIES

Marketing policies are also one of the most important because they are related to the growth of

the organization. Marketing for bank would mean:

1. Creation of new product and services.2. The bank marketing must be consumer oriented.

Following are the marketing policies of the ACBL.

a) Keeping the latest development in the world and incorporating the latest and mostmodern equipment to make the banking procedures simple and easy for the

customers.


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b) Development of product for the customers.c) Giving good services and maintaining good relation with the customers.

These policies can be implemented by providing the right product and services to the customer at

the right place, at the right price.

It is necessary for the managers to keep it touch with consumers, observe their needs and develop

products, which meet their needs.

PROMOTION POLICIES:

Pubic relation and advertising has assumed a great importance in the modern banking business.

As for as promotion activities are concerned, the main objective of the bank is to in form the

existing client and other people about its new product or change in the existing services. ACBL

establishes its purpose through:

1. Direct contact with customer.2. Relation with business organization.3. Community relations

LENDING POLICIES

Every bank has its own lending policies except for those which are common for all the banks, i.e

the policies, which are imposed on all the commercial banks by the SBP, are known as prudential

regulations. The lending policies of ACBL are as follows:

1. The bank only invests in those sounds and visible projects, which have good rate ofreturn.

2. Bank prefers to advance loan to their account holders.3.

Loan is given to reliable person only.

4. No political loan is sanctioned by bank.5. Any account holder can apply for running finance or demand finance. The manager

appraises the past record of account holders and his credit worthiness. If he finds any

thing wrong he can refuse to sanction the amount.

6. The bank while taking security prefers govt. securities to shares.


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7. It also advances working capital loans.PERSONAL POLICIES

Personal policies have an important role in the success of any organization. ACBL have its

proper personal policies. Good personal policies motivate the employees towards hardworking.

Following are the main personal policies of ACBL:

1. Selection of employees on merit.2. Selection of capable employees.3. Attractive salary package for motivation of employees.4. To train and develop the future management of the bank.5. Every employee must have certain set of clearly defined duties.6. Effective communication at al levels of the organization.

askari bank2

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