Mcb bank internship report 2013

Prepared By: Muhammad Yasir

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Internship Report, 2013

In The Name of ALLAH, The Compassionate, The Merciful

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DEDICATION

“The Holly Prophet Mohammad (PBUH) from where all systems and standards for quality can be downloaded directly, which are applicable everywhere; from daily life to the dynamically changing business environment”.

& “My Dear parents and Teachers who taught me the true meaning of life”

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ACKNOWLEDGEMENT

First of all, I want to express all my humble thanks to ALLAH who is very sensitive about each and every activity of all his men and without whose help, I am unable to accomplish any objective in my life. All respect to his Holy Prophet HAZART MUHAMMAD (Peace Be Upon Him) who brought the light of knowledge when the humanity was wandering in the desert of ignorance. Secondly, I am grateful to my prestigious institute that made his learning opportunity a part of our education, especially. Internship coordinator who not only guided me well but also helped me in finding such an excellent place for internship I am also thankful to all other teachers as the knowledge imparted by them enables me to gain knowledge of the organization in best way. I would also thank to all the staff of MCB Bank, particularly Mr. Syed Azhar Mr. Anus, Mr. Naeem and Mr. Mansoor who gives me an opportunity to work in the bank and gave me a chance to explore my knowledge. I submit my earnest thanks to my affectionate parents, who always remains at my back to support me, I can never give the return of their un tired struggle for me, but I can only prove myself as they expect from me. I am also grateful to all other family members and all my friends for their moral boosting and spiritual support during my study and especially in this internship program. I went to pay gratitude to all persons, who had helped me in completing this support.

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EXECUTIVE SUMMARY

This report is about my internship program with MCB Bank Limited. In this comprehensive report, I have discussed about every major aspect of the bank, which I observed and perceived during my internship program. In this report you will find the detail about the bank right from its incorporation to the current position. Along with it, the processes, policies and procedures of the bank are also discussed in detail. During my internship program, I mainly worked in Retail Banking, General Banking & Finance. All the departments have been discussed in detail and all the policies and procedures have been described thoroughly. As the main purpose of internship is to learn by working in practical environment and to apply the knowledge acquired during the studies in a real world scenario in order to tackle the problems using the knowledge and skill learned during the academic process, In this report the detailed analysis of the organization has been done and all the financial, technical, managerial and strategic aspects have been evaluated to analyze the current position of the organization. This internship report covers many important aspects which are basically related with the operations and financial aspects of the bank. In the end the learning and experiences section consists of all the policies, processes, practices and procedures which I have undergone through and learned during my internship program. This report also contains my perceptions about the employees’s satisfaction, motivation level and the working environment of the organization.

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INTRODUCTION OF THE ORGANIZATION

MCB Bank is one of the leading banks of Pakistan with a deposit base of about Rs. 280 billion and total assets of around Rs.300 billion. Incorporated in 1947, MCB soon earned the reputation of a solid and conservative financial institution managed by expatriate executives. In 1974, MCB was nationalized along with all other private sector banks. This led to deterioration in the quality of the Bank’s loan portfolio and service quality. Eventually, MCB was privatized in 1991. Since privatization, MCB's growth has been phenomenal. Today, MCB in one of the largest foreign banks in Sri Lanka, the first bank in Pakistan to launch Global Depository Receipts (GDR) in 2006, has strategic foreign partnership with May bank of Malaysia which holds 20% shares in MCB through its wholly owned subsidiary Maybank International Trust (Labuan) Berhad since 2008, has international indirect regional presence in Dubai (UAE), Bahrain, Azerbaijan, Hong Kong and Sri Lanka and serving through a domestic network of over 1,150 branches and over 690 ATMs across Pakistan with a customer base of 4.96 million (approximately) During the last fifteen years, the Bank has concentrated on growth through improving service quality, investment in technology and people, utilizing its extensive branch network, developing a large and stable deposit base and managing its non-performing loans via improved risk management processes.

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BRIEF HISTORY OF THE ORGANIZATION

The history of MCB can be divided into Three main Phases: Development Phase

Nationalization Phase

Privatization Phase

DEVLOPMENT PHASE: MCB Bank Limited was incorporated by the Adamjee Group on July 9, 1947, under the Indian Companies Act, VII of 1913 as a limited company. The bank was established with a view to provide banking facilities to the business community of the South Asia. After the partition of the Indo-Pak subcontinent, the bank moved to Dhaka (then the capital of former East Pakistan) from where it commenced business in August 1948. In 1956, the bank transferred its registered office to Karachi, Where the head office is presently located. Thus, the bank inherits a 64 years legacy of trust of its customers and the citizens of Pakistan. MCB Bank is not an overnight success story. It started with a share capital of Rs 30 million which is divided into 3 million ordinary shares of Rs 10 each. NATIONALIZATION PHASE: The 1960s decade is stated as the golden era in Pakistan’s economic and financial development. The banking sector also registered noticeable growth during that period and lent a strong helping hand to the government to achieve rapid economic growth of the country. But in early 1970s this scenario changed altogether.

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The separation of East Pakistan (now Bangladesh) and induction of the government led by Zulfiqar Ali Bhutto were the most significant events of early 70s having far reaching effects on the banking system. In the wake of rapidly changing conditions of the country, the government decided to nationalize all the commercial banks so that the nation as a whole can benefit from a better use of resources. Consequently, the Muslim Commercial Bank was nationalized under the Banks (Nationalization) Act, 1974 promulgated on January 1, 1974. In the wake of rapidly changing conditions of the country, the government decided to nationalize all the commercial banks so that the nation as a whole can benefit from a better use of resources. Consequently, the MCB Bank was nationalized under the Banks (Nationalization) Act, 1974 promulgated on January 1, 1974. In the banking sector, the then government decided to retain only five major banks by merging all the smaller banks with the large ones. As a result of this policy, the Premier Bank was merged into Muslim Commercial Bank in 1974. PRIVITIZATION PHASE: This was the first bank to be privatized in 1991 and the bank was purchased by a consortium of Pakistani corporate groups led by Nishat Group. The banks after nationalization came under political and bureaucratic control and deviated from normal banking practices. Some of their senior executives were tempted to nurture a culture of obliging big businessmen, feudal and political influential. They sacrificed their personal integrity and interest of banking sector for gaining promotion and accumulating personal wealth. That is how banking sector started losing its upright and professional institutional image from mid-80s and its downward slide started which touched new low during 1990s.

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MISSION STATEMENT

MISSION STATEMENT We are a team of committed professionals, providing innovative and efficient financial solutions to create and nurture long-term relationships with our customers. In doing so, we ensure that our shareholders can invest in us with confidence.

CORE VALUES These are the standards and principles which determine our behavior and how we interact with our customers and each other Integrity We are the trustees of public funds and serve our community with integrity. We believe in being the best at always doing the right thing. We deliver on our responsibilities and commitments to our customers as well as our colleagues. Respect We respect our customer’s values, beliefs, culture and history. We value the equality of gender and diversity of experience and education that our employees bring with them. We create an environment where each individual is enabled to succeed. Customer Centricity Our customers are at the heart of everything we do. We thrive on the challenge of understanding their needs and aspirations, both realized and unrealized. We make every effort to exceed customer expectations through superior services and solutions. Innovation We encourage and reward people who challenge the status quo and think beyond the boundaries of the conventional. Our teams work together for the smooth and efficient implementation of ideas and initiatives.

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KEY OPERATION OF THE CONCERN

The departments are as under General Banking Department

Clearing Department

Remittance Department

Accounts Department

Cash Department

Clearing Department: All the external functions of clearing are carried by NIFT (National Institute of Facilitation Technology) while the internal operations are performed by clearing department. It is just like any courier service which takes the cheques of other banks and delivers the cheques of that branch to it. Clearing is a system by which banks exchange cheques and other negotiable instruments drawn on each other within a specified area and thereby securing the payment for its clients through the clearing house. A clearing house is a general organization of the banks at a given place, Its main purpose is offsetting the cross obligation in the form of cheques. When there are many banks in the country each will receive a number of cheques drawn on other banks, deposited within for collection. A clearing house is an organization where these cheques are brought and the mutual claims of each bank on the other are offset and a settlement is made by the payment of differences. They deliver cheques that their bank may have negotiated and

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receive in exchange cheques drawn on their bank negotiated by other bank. The responsibility of smooth cooperation of the clearing function lies with the State Bank of Pakistan.

Remittance Department: The need of remittance is commonly felt in commercial life particularly and in every day life general. A major function of any banking system is the transfer of funds from one client or one place to another. By providing this service to the customer the bank earns a lot of income in the form of service charges. This department deals with local currency remittance i.e. remittance from one city to another without actually carrying the currency. MCB uses following instrument for transferring of money:

Demand Drafts

Pay Order

Telegraphic Transfer

Mail Transfer Demand Drafts (DD): DD is a written order given by the branch of the bank on behalf of the customer to other branch of the same bank to pay the certain amount to the customer. DD are issued for the particular place other than place of issuance. A drafts is a Cheque drawn by a bank on its own branch or any other branch of another bank at a different place requesting it to pay on demand a specified amount of money which is already received to the person named on it. DD is of following two types:

DD payable

DD Paid Suspense a/c In the first type as advice reaches for payment the immediately pay to the customer while in later as DD presented by the customer, it is paid and the suspense account is debited.

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Internship Report,2013

Pay Order: Payment Orders are issued for the money transfer with in the city. Pay order is made for local transfer of money. Pay order is the most convenient, simple and secure way of transfer of money. Telegraphic Transfer( TT ): In this case the authority is given from one bank to other on the behalf of the customer through telecommunication to debit their inter office account through them and credit their parties account mentioned in TT. It is an inter bank transaction. Telegraphic transfer is an instant transfer of funds. Through this method applicant can transfer money from one place to another place. There are two types of TT, Both types of TT are maintained in separate registers, test is applied by the manager of every amount of TT.

Incoming TT

Outgoing TT Applicant has to fill a form along with depositing amount to be transferred and bank commission. MCB charges the commission at the same rate as in the case of demand drafts. Mail Transfer (Mt): As the name shows, it is transfer of money in the shape of document through mail. Procedure is like TT. The transfer of funds from one place to another by mail is called Mail Transfer (MT). The MT can be foreign or domestic. The applicant who is desiring to remit the funds by way of Mail Transfer can either deposit cash or ask the bank to debit his/her account with the cost of MT including the bank charges. These all measures are for safe transfer of funds.

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Accounts Department: Every transaction which takes place recorded in the computer so all transactions in different departments are forwarded to account department. Since all vouchers from different departments are forwarded to accounts department so this department tallies all such transactions with current department after maintaining the ledger of each department. The branch where I worked Mr. ANUS was performing these activities. I was not allowed to use software but I observed all the fuctions performed by him. Following are different functions performed by this department:

Preparation of Financial Statements for different time span

Maintain all accounts of different departments

Calculation of profit on different schemes

Calculation of markup on different advances

Preparation Different types of reports for State Bank

Daily position of cash & every accounts

Matching daily summaries of all departments with ledger As software is used therefore all these tasks have become quite simple just it requires posting and then all tasks can be performed by giving computer commands.

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Cash Department:

In cash department both deposits and withdrawals go side by side. This department works under the accounts department and deals with cash deposits and payments. This department maintains the following sheets, books, ledger of account:

Cash received voucher sheet.

Cash paid voucher sheet.

Paying-in-slip

Cheque Book

Cash balance book

Cash Paid Sheet: The only instrument that can be used to withdraw an amount from an account is the Cheque book. No payments are made by another instrument. Cheques can be of two types, they may be presented at the counter and encashed and the others are clearing or transfer cheques. Cashier manually inspect the Cheque for following:

Signature & date

Cross cutting

Drawee’s a/c title

Amounts in words & figures

Two signatures at the back The cheques should not be stated as post dated. If in the Cheque there may discrepancy regarding any of the aspects described above the cheque is returned to the customer for rectification. On other hand if the cheque is valid in all respects, the cashier enters the necessary inputs in the computer and post the entry so that account balance is updated.

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When cashier posts these entries, computer automatically display the balance before posting the transaction amount, balance after posting. The cashier easily and quickly see whether the amount being withdrawn so exceed the balance or within the balance. If the amount does exceed the balance then it is upon the discretion of the manager to allow an overdraft and not depending upon the customer’s reputation. If he does not allow an over draft, the procedure is repeated again as described for the mismatch of the signature Cheque is return. The detail of notes (currency) is written on the back side of the Cheque. The cashier at the same time maintain the “Cash Voucher Received Record Sheet”. Then once again inspect the signature of the customer cancellation mark of checking officer and stamp of “POSTED” is placed on cheque before hand over the cash to customer. Cash Received: For depositing the cash into customer’s accounts, there is need to fill in the paying-in-slip giving the related details of the transaction. This paying-in-slip contains the date, a/c/no, a/c title, particulars, amount being deposited and details of the cash. There are two portion of the paying-in-slip. The depositor signs the one part of the paying-in-slip one is retained by the bank to show an acceptance of the entries made in the slip. The different colored paying-in-slip are used for all the types of deposits. Only the slips related to a particular type of a/c is acceptable by the bank. For example current paying-in-slip for current a/c and saving paying-in-slips for saving a/c etc. The paying-in-slip serves as a voucher to update to computerized transaction ledger.

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The transaction ledger is only updated by paying-in-slip and Cheque. The cashier responsible to receive both the paying-in-slip and cash from the depositor. The cashier check the necessary details provided I the paying-in-slip and accounts the cash and tallies with the amount declared in the slip. If the amount does not tally with the cash given, the deposit is not entertained until the customer remove the discrepancy. On the other hand if the two amounts tally, the cashier fills in the “Cash voucher received Record Sheet” and assigns a voucher no. to both the transaction being made in the sheet and the slip. This voucher no. starts with one and continue by serial increments of one for each day till the closing of the sheet, the cashier fills the voucher no, an account, cash day till the closing of the sheet. The cashier fills in the voucher no, an account of, cash entry in the related type of a/c and he post his initials on both part of the voucher. Then the cashier send both to the accountant who verifies all the entries in the two documents, if the entries in the two documents, if the entries in the two documents tally with one another, the accountant authenticates the two by singing on the two documents and posting stamps on the slip. 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 department of the bank.

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ORGANIZATION CULTURE

MCB has an organizational culture conductive for growth and confidence. Trust: We are the trustees of public funds and serve with integrity & commitment. Ethical behavior is of critical importance to us. We adopt full compliance with internal and external policies and procedures, operating within the legal framework Customer Focus: We continuously seek to exceed our customer’s expectations, forging and maintaining long term relationships. Innovation: We strive to be the market leaders in innovative products and services offering customized financial solutions with flawless execution Achievement: Our people are our most valuable asset. We are committed to a result oriented culture. Our goals are clear and merit is the only criterion for reward Social Responsibility: As responsible citizens we contribute to the social welfare of the community we live in.

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PURPOSE OF INTERNSHIP

Internship is the capstone experience that provides me with hands-on, real- world experience in a work setting. Ideally, internship will enables interns to:

Integrate and use my knowledge and skills from the class room.

Discover where further competence needed.

Take steps to gain that competence under educational supervision.

Become better acquainted with the types of work settings in which such competence can be applied.

Reason of Choice: These are the reasons

To develop skills and competencies that will advance our employability.

Internships help us learn and add to our experience.

We can generally adjust our timings to suit our self.

We learn how to deal with a variety of situations.

To have a positive impact on our society and the world around Find a suitable Mentor who can guide us through our career decisions and many life experiences.

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Personal Objectives: I worked as an internee in MCB Port Qasim Branch and the main objectives to study in MCB were:

To get some experience in working with well reputed organization.

To gain knowledge about the professional environment in bank.

To Know about the technology utilized in the bank.

To deal and manage with the Situation of stress.

To effectively utilize and develop my skills and contribute positively to the growth of the organization

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PRODUCT & SERVICES

Credit cards: Makes MCB Visa the most affordable credit card in your wallet.

MCB VISA offers you a wide range of products that will cater to your diversified taste perfectly.

Intelligent Reward Monitoring and Redemption System.

Buy now and pay off latter in easy and affordable monthly installments!

Saving you from the hassle of making multiple payments on your various credit cards.

You need cash and want to pay back in installments.

Life is too precious to be spoilt by unforeseen events.

How About a credit card that acts like hard cash.

Car Loans: Car4U: The main features of car loan, Car4U, are:

FLEXIBLE

Option for financing or leasing

Financing tenures from 1 to 7 years

Option for new as well as used cars

Option for early payment

Option for first year insurance financing

Minimum documents required (1 copy of CNIC and 2 photographs) AFFORDABLE

Lower mark up rates

Lower insurance rates

Only upto 15% down payments

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MCB Business Sarmaya:

Running finance facility, to use as and when you want.

Financing upto Rs. 20 million

Pay back when you want

Only monthly mark-up payment

Lower mark up and that too only on utilized amount.

Option to club income to avail higher financing limits.

Personal Loan: Speedy loan approval

No guarantor / security / collateral required

Borrow up to Rs.1,000,000/-

Partial and full adjustments allowed anytime during the tenure

Optional insurance

Equal monthly installments

Lower interest rates

Higher loan limits

Doorstep service and assistance from our dedicated sales staff to fill and submit

application along with documents

Mobile Banking: At the forefront of technological excellence, MCB proudly introduces MCB MOBILE BANKING. The convenience of accessing your account balance information and mini statement.

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Call Center: The state of the art MCB call center is the right choice to keep you in step with your ever hectic schedule by providing you services relating to your account and Smart card at any point in time.

Bill Payment: MCB easy bill pay offers unmatched convenience to pay your utility and

mobile phone bills or re-charge your prepaid mobile phone accounts anywhere, anytime with security and peace of mind.

MCB is the only bank that offers you 3 convenient options of making bill payments to PTCL, SSGC, KESC So, save your precious time by avoiding long queues and pay your bills through MCB Easy Bill Pay.

Islamic Banking: Islamic Banking Division was formed with effect from 1st January 2003, which in a short span of time, has developed sufficient expertise, necessary infrastructure, information technology, and manpower to run Islamic Banking Operation and offer Islamic Banking.

Type of Accounts BASIC ACCOUNT:

Open a Basic Account with as little as Rs.1000/- only.

No minimum balance maintenance requirement.

No monthly account maintenance charges.

Two free deposits per month (including cash and clearing).

Two free withdrawals per month (including cash and clearing).

Unlimited free withdrawal transactions through MCB's ATMs.

Use your MCB VISA DEBIT CARD to shop at thousands of merchants across Pakistan

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CURRENT ACCOUNT: The current account is the most common account and the most preferred amongst business concerns. The theoretical explanation for this would be that they can function more efficiently but since in reality there are no restrictions on any with drawl the only reason we could think of is that current account facilitates online banking which saves time (which in this ultra competitive business world the most precious resource) to a considerable extent. In case of a current account the client does not earn any interest. Current account enables the client to do cash transactions in a more efficient manner.

Low minimum balance requirements.

Unlimited cash deposit and withdrawal facility at hundreds of branches nationwide.

Use your MCB Visa Debit Card to shop at thousands of merchants across Pakistan.

Lockers and other affordable transactional facilities.

MCB ACCESS:

Hundreds of 9-5 full day banking branches.

Network of over a thousand branches, and hundreds of online branches, at convenient locations.

SAVING ACCOUNT: Individuals who wish to earn profit/interest on their investment normally maintain the profit and loss sharing account but in order to earn interest the client is required to keep his/her deposits with the bank for some time. In theory there are some restrictions on withdrawal of money from a Profit and Loss Sharing account but in general banking practice there is no restriction on any with drawl from a Profit and Loss Sharing account.

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SAVING 365 GOLD: This account is newly developed of MCB and it provides flexibility of saving account to business people. Profit on deposits will be payable on daily product basis on balance of RS. 500,000/- and above. However, if balance in the account falls below RS. 500,000/- on any day, the product will be ignored. There will be no restriction on withdrawal from the account. Zakat and withholding Tax is also applicable on the account opened under this scheme.

Minimum balance is Rs.500,000/=

Below minimum balance, profit calculation ignored

Profit calculated on daily basis

Profit paid on annually basis

Zakat deducted on @ 2.5%

The higher the balance, higher the rate is offered.

Profit calculated on daily basis.

Profit paid into your account every month

FOREIGN CURRENCY ACCOUNT: Open your account in US Dollar, UK Pound Sterling, or Euro.

Open for as little as US$ 500 or equivalent.

Unlimited transactions at your branch.

Free Foreign Currency cash deposit and withdrawal facility.

Rate of Return directly linked with international market.

Profit paid into your account every six months.

Foreign Remittances facility available.

Countrywide network of Foreign Currency Branches.

Cash withdrawal in PKR equivalent.

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SAVINGS XTRA ACCOUNT:

The higher your balance, the higher your profit.

Now avail attractive rates up to 8.5%.

Profit calculated on monthly basis.

Profit paid into your account semi-annually.

No joining fee on Debit/ ATM Card.

50% Discount on Lockers.

Cash deposit and withdrawal facility at hundreds of branches nationwide.

Unlimited number of ATM withdrawal transactions.

3 Free withdrawal transactions through the branch every month.

BUSINESS ACCOUNT:

Higher the balance, the higher the number of free transactions.

Open a Business Account with Rs.50,000 only.

Unlimited free cash deposit and withdrawal facility at hundreds of branches nationwide.

FREE SERVICES

When you maintain average monthly balance of Rs.100,000 or above

Demand Drafts/Pay Orders.

Cancellation for Demand Drafts/Pay Orders.

Cheque Book.

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WHAT HAVE I DONE ?

I worked as an Internee in MCB Bank for 6 weeks as per required by University. During my Internship, there was a tremendous atmosphere in MCB Bank. I learned so many things from their management like how to work in a standard place. At my first day in Port Qasim branch the bank manager, Mr. Khuwaja Faizal Ali has introduced me with different persons and department of the bank. After that I have personally visit every department one by one and observe what is happening there. All the officials have co operate me very much and provide me information, which I needed. The most important benefit of this internship is that I got practical exposure of work place. I got practical experience of working practices related with my field. I learned that how to manage things and how to create balance among work life and personal life. Management did help me a lot during my work they always guide me especially Branch Manager. I learned whole process of account opening of individuals practically. I remained involved very much in practical activities of account opening. I learned whole process of Clearing. I processed the Inward cheques for collection and clearance, and have also prepared vouchers.

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Every transaction which takes place recorded in the computer so all transactions in different departments are forwarded to account department. The branch where I worked Mr. Anus Khan was performing these activities. I was not allowed to use software but I observed all the functions performed by him. In cash department I observed the process of deposits, filled deposit slips, and learned how the cash registers are maintained. In this department I did little work practically as it was not allowed. During my internship I dealt with many customers and employees, this was a great experience to learn - How to deal with customers - How to work under pressure i.e in rush hours. - How to manage an office. - My communication skills were improved. - I observed the practical application of many accounting concepts. In short, MCB Bank is the first choice of the students who want to gain the practical experience of internship. As being the first bank in Pakistan, MCB has always strived to achieve more market share by focusing on the needs of its current and potential customers.

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Internship report, 2013

SUGGESTION & RECOMMENDATIONS

SWOT ANALYSIS: STRENGTHS: The strengths of MCB are as:

MCB is the first Pakistani privatized bank and because of its quality management, marketing, innovation in products and services is performing well in financial market.

Strong and its attractive products

Better focus on customer services and customization

Flexibility with the changing environment.

Induction of the highly qualified professionals to change overall set up.

Technical management skills

Employees respect & dignity

Good corporate citizenship

Weaknesses: The noted weaknesses of MCB are as:

The majority of people are not well aware about the products of MCB. Therefore it should advertise extensively especially RTC and Master Cards.

In MCB there is lack of specialized skill because of job rotation policy of human resource department. The bank should concentrate upon increasing its abilities on individual service basis.

Mismanagement of time is another big mistake in MCB branches, the bank official time of closing is 5:00pm but due mismanaging of time allocation and work the staff is normally on their seats till 7:00 or 8:00 clock.

Process of development is bit slow due to its conservative approach

Never prefer to be a leader and prefer to be a follower of others

Slow improvement and acceptance of technological changes

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Opportunities: Greater potential and opportunities for Credit Division if Liberal Policies

being adopted.

department through effective promotional and liberal policies.

Inclusion of highly qualified professional can change the whole scenario and position of the bank if they have given the due liberty in performing their duties.

Adoption of information technology will improve the customer services.

More mobilization of accumulated deposit is possible through innovative financing to

· Agro Based Sector · Leasing · Personalized Financing

Threats: The Competition has become severe by the entrants of so many banks, So

to exist one will have to prove himself in its services through excellent management and will have to satisfy its shareholders. Otherwise he will be out the market.

The decrease purchasing power of consumer in the current economic situation of the country affecting the business activity speed too much and the result is the low investment from the investors in new projects can create problem for the bank because it is working a lot in trade.

Introduction of credit marketing by local and foreign banks is badly affecting the mobilization of the MCB’s deposits due to the non presence of such department in it.

Introduction and adoption of information technology as well as promotion of the computer culture by the local as well as foreign banks will definitely affect the services and business of the MCB.

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CONCLUSIONS

With Cooperation of all branch members, I have been able to learn and experience many new things related to the banking sector and the banks workings. I am able to handle the public with respect to many different workings on many different instances and also in account opening for customers and can handle many other tasks as well. Finally I concluded that MCB is a good organization for a person for his long term career workings. Overall working and environment of the bank is very comfortable and the staff is very helpful and respectful of each other and it still maintains a professional environment. Management of the bank is very strong. Employees of MCB Port Qasim branch work more than their working hours and all the workings take place in a very friendly atmosphere that does not induce pressure on the person working there. It also shows their loyalty and commitment to the organization. This branch of MCB relatively small and has climbed its way up very quickly and all that only because of the employee’s efforts and consideration for each other.

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PROBLEM IDENTIFICATION

Shortage of Staff:

Almost in all branches of MCB BANK the problem of shortage of staff is very

common. There are only few employees who are the be all and end all of the

whole branch resulting in burden of work.

Staff is not Adequately Trained:

Need some Improvement.

MCB should provide technical training of the staff

The circle of ATM machines should extend in all major cities of the Pakistan.

MCB should encourage creativity.

The moving cameras in their branches for securities purpose.

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RECOMMENDATIONS & SUGGESTIONS

After doing a deep study and witnessing everything that goes on in a branch, I would then like to make the recommendations that; First of all, the management needs to overlook the major problems that the organization is currently facing and then develop strategies to eradicate them. Some of the suggestions that I would like to give at the end are:

Promotion and Mass Media Publicity: MCB Bank can improve its Marketing strategies to acquire more promotion and mass media publicity by the use of effective channels of promotions like TV, Newspaper Advertisements.

Need introduce friendly Products: In order to compete in the ever-expanding market both nationally and internationally, introducing new and efficient products is one of its major requirements.

Better Reward System: Better reward system is one of the most important requirements in order to reduce the problem of Employee retention and improve Employee motivation.

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_____________________________Internship Report, 2013 Continuous Training of Employees:

Creation of enhanced performance appraisal system

Implementation of enhanced Marketing system

Continuous lecture on better communication of staff with customers

SYMBOL SYSTEM: To make the SYMBOL system more efficient and make sure its connectivity all the time in order to provides more convenience to customers.

Change The Nature Of Work: Most of the bank employees are sticking to one seat only with the result that they become master of one particular job and loose their grip on other banking operation. In my opinion all the employees should have regular job experience all out-look towards banking. Their promotion policy should be adjusted accordingly.

Increase Salaries: MCB is making good profits but giving less pay to their employees as compared to their competitors. So their salaries should be increased.

Incentive To Employees: Bank should give some more incentive to its employees in order to remove the conflict between lower and higher officers and should try to improve the working condition of the bank. Such system should be designed that every employee who has some problems with his officers can communicate to the higher management and some steps must be taken to improve that.

KASBIT University

Date post:	30-Nov-2014
Category:	Business
Upload:	muhammad-yasir
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