“General Banking and Financial Performance Analysis of Janata Bank Limited”
UCBL Internship Report
1. An Internship Report On
Online Banking As General Banking Activities of
United Commercial Bank Ltd.
Savar Branch, Dhaka.
2. Internship Report on
Online Banking As General Banking Activities of
United Commercial Bank Ltd.
Savar Branch, Dhaka.
Submitted to:
The Chairman
Internship Placement Committee
Department of Business Administration
Gono Bishwabidyalay
Mirzanagor, Savar, Dhaka.
Submitted by:
Exam Roll: 246
Batch: 4th
Program: B.B.A
Concentration/Major: Finance
Department of Business Administration
Gono Bishwabidyalay
Mirzanagor, Savar, Dhaka.
Date of Submission: October 30, 2016
3. LETTER OF TRANSMITTAL
Date: October 30, 2016
The Chairman
Internship Placement Committee
8th
Semester, 4th
Batch
Department of Business Administration
Gono Bishwabidyalay
Mirzanagor, Savar, Dhaka.
Subject: Submission of Internship Report
Dear Sir,
I am here by submitting my Internship Report, which is a part of the BBA Program
curriculum. It is great achievement to work under your active supervision. This report is
based on, “Online Banking As General Banking Activities” of “United Commercial Bank
Limited”. I have got the opportunity to work in United Commercial Bank Limited for three
month. This project gave me both academic and practical exposures. First of all I learned
about the organizational culture of a prominent Bank in our country. Secondly, the project
gave me the opportunity to develop a network with the corporate environment.
I shall be highly obliged if you are kind enough to receive this report and provide your
valuable judgment. It would be my immense pleasure if you find this report useful and
informative to have an apparent perspective on the issue.
Sincerely Yours
-------------------------------
Exam Roll: 246
Batch: 4th
Program: B.B.A
Concentration/Major: Finance
Department of Business Administration
Gono Bishwabidyalay
Mirzanagor, Savar, Dhaka.
4. STUDENT’S DECLARATION
I, Bearing Roll-246, student of Business Administration, Gono Bishwabidyalay, hereby state
that the report offered in the name “ONLINE BANKING AS GENERAL BANKING
ACTIVITIES OF UCBL” Savar Branch, Savar, Dhaka, has been prepared and carried by me
under the supervision of, Mohammed Abdul Based senior vice president & head of Branch,
United Commercial Bank Limited, Savar, Dhaka. I also state that no part of this report has
been or is being submitted elsewhere for the award of any degree, diploma or recognition.
Exam Roll: 246
Batch: 4th
Major: Finance
Minor: Marketing
Bachelor of Business Administration
Gono Bishwabidyalay
Mirzanogor, Savar, Dhaka.
5. ACKNOWLEDGEMENT
First, I remember Almighty Allah for helping me to successfully prepare this report. I am
thankful to the United Commercial Bank Limited authority that has assisted me by giving
efficient preferred information from their portal. I shall have to put my heart rendering
respect and appreciation for the consideration and co-operation which is given to complete
my project work assigned report on the topic “ONLINE BANKING AS GENERAL
BANKING ACTIVITIES OF UCBL”.
I express my profound thanks to my supervisor, for being a co operative and very
accommodating advisor and providing me appropriate direction in carrying out my Internship
Report, as a part of the obligatory prerequisite for the Bachelor of Business Administration
Undergraduate Program.
I heartily thank all the officers of UCBL and my friends who directly or indirectly provided
me their support in this regard.
I really enjoyed a lot every moments like internship period to preparing final report. I hope
that it will help me in my future professional work. Moreover I like to thank everyone who
was helped me for preparing this report.
Finally, I would like to humble thanks to all of my family members who gave me physical,
psychological and economical supports to complete my BBA Program.
Exam Roll: 246
Batch: 4th
Major: Finance
Minor: Marketing
Bachelor of Business Administration
Gono Bishwabidyalay
Mirzanagor, Savar, Dhaka.
6. EXECUTIVE SUMMARY
As part of my academic requirement and completion of my BBA program, I needed to
complete a three month period of Internship program. I chose to do my Internship at United
Commercial Bank Ltd. At UCB I was assigned to do my intern in “Online Banking As
General Banking Activities”. It was a new concept for me and I took the opportunity to learn
about as much as possible while I was working. United Commercial Bank Limited is one of
the prominent banks in Bangladesh, which started its journey in 1983. In these thirty three
years of long journey the bank has achieved trust from people by providing its services. Now
this bank has 158 branches and 152 ATM Booth. The main motto of the bank is to give best
quality and swift service to customers. In these three months of internship period I learn from
them how to motivate customers and give quick services. Online Banking is a very important
part of general banking division of a bank. In this report I describe the online banking of
general banking division. The report also gives an idea of different products and offerings
given by United Commercial Bank Limited.
The whole purpose of general banking division is to make UCBL more efficient in its own
filed. Based on the findings I have also included a few improvements that this report holds at
the end. Although, it is difficult to come to a conclusion without a proper research or survey,
I based my conclusion partially on what I though.
7. Table of Contain
Chapter Tropics Page No:
Chapter 01 Introduction 1—4
1.1 Introduction 02
1.2 Background of the Study 02
1.3 Objective of the report 03
1.4 Scope of the studies 03
1.5 Methodology of the Study 04
1.6 Limitations of the Study 04
Chapter 02 Overview of the Organization 5—12
2.1 Overview of the organization (UCBL) 06
2.2 History of the UCBL 06
2.3 Vision of the UCBL 07
2.4 Mission of the UCBL 07
2.5 Goals of the UCBL 07
2.6 Values of the UCBL 08
2.7 Purpose of the UCBL 08
2.8 Strategies of the UCBL 08
2.9 Slogan of the UCBL 09
2.10 Corporate Philosophy 09
2.11 Ethics, Integrity and Trust 10
2.12 Corporate Social Responsibilities 10
2.13 Products and Services by UCBL 11
2.14 Organgram of UCBL 12
2.15 Divisions of UCBL 12
Chapter 03 Online Banking as General Banking 13—29
3.1 Online Banking 14
8. 3.1.1 Internet Banking
3.1.2 Mobile Banking
14
16
3.2 Online Service 19
3.2.1 Personal Online Service 19
3.2.1.1 UCB Online Bill Pay 19
3.2.1.2 UCB E-Statement 20
3.2.1.3 UCB E-Mail Alert 21
3.2.1.4 Cheque Clearing Process 21
3.2.2 Commercial or Business Online Service 23
3.2.2.1 UCB E-Deposit 23
3.2.2.2 UCB Commercial Online Management 25
3.2.2.3 UCB Commercial Merchant Service 26
3.2.2.4 UCB Account Analysis Through Online 27
3.3 Banking VS Online System 27
3.4 Ten Reason to Use Online Banking 28
3.5 Online Service Charge 29
Chapter 04 Comparison Between UCBL and Southeast
Bank
30—34
4.1 Brief description about southeast bank 31
4.2 Comparison between UCB product and offering with
Southeast Bank
32
4.3
4.4
Finding from the comparison
Findings throughout my internship in UCBL at Savar
Branch
34
34
Chapter 05 Role As An Intern 35—38
5.1 Internship 36
5.2 Job Description 36
5.3 The daily work routing 36
5.4 Team working 36
5.5 Learning Point 37
5.5.1 Posting of the account 37
5.5.2 Issuing pay order slip 37
5.5.3 Issue of the cheque book 37
9. 5.5.4 KYC form completion 37
5.5.5 Clearing House Register 37
5.5.6 Deliver of Debit Card 38
5.5.7 Call the cline for received cheque book & ATM card 38
5.5.8 Write down Deposit slip 38
Chapter 06 SWOC Analysis 39—42
SWOC Analysis 40
6.1 Strength of UCBL 40
6.2 Weakness of UCBL 41
6.3 Opportunity for UCBL 41
6.4 Challenges for UCBL 42
Chapter 07 Conclusion
Suggestions for further improvement
Conclusion
Reference
Appendix
11. 1.1 Introduction
To complete the academic requirement of BBA (Bachelor of Business Administration)
students of Gono Bishwabidyalay have to complete their internship to gather practical
experience by working professionally. This experience helps the students to know how to
deal with the practical job related responsibilities. Inters are generally placed according to
their major subject or concentrated area to gather knowledge. As student of finance and
marketing I got the chance to do my internship in “United Commercial bank Limited”- Savar
branch, Dhaka. I started my internship in - United Commercial Bank Ltd on Savar Branch,
Savar, Dhaka from August 8, 2016 and ended on November 7, 2016. A report on a particular
topic is a mandatory part of the internship program. I was authorized to make a report on the
“Online Banking as General Banking Activities” of United Commercial Bank Ltd. It was a
great experience for me to work as an intern at United Commercial Bank Ltd.
1.2 Background of the Study
Internship report is an essential part of BBA program. It is considered as an edge between
academic knowledge and practical field. This report is prepared as a requirement for the
completion of the BBA program conducted by the Department of Gono Bishwabidyalay. I
have completed my internship report for my academic curriculum purpose. The objective of
the report is to blend our academic knowledge with that of practical ones and give us an
insight in to the management of organization in real life situation. Theoretical knowledge
achieved perfection with the implication of practical knowledge. Professional experience is
very important to be established in the corporate world. In this situation I got a bit practical
experience by analyzing the overall banking activities of United Commercial Bank.
Page: 02
12. 1.3 Objective of the report
Primary objectives:
Ø To get an overall idea about the banking system of United Commercial Bank Ltd.
Ø To get an idea about the Online Banking as General Banking Activities of United
Commercial Bank Ltd.
Ø To get idea about the relationship between real life learning and theoretical learning.
Specific objectives:
Ø To know the General banking system of United Commercial Bank.
Ø To present my observation and suggestion to the bank.
Ø To apply hypothetical knowledge in real-world field.
Ø To observe the purposes of general banking.
Ø Getting idea about how commercial bank works.
Ø To gain practical experience that will help us in our practical life.
Ø To find out the problems of the bank and suggesting the way to solve the problems.
Ø To analyze the current performance and making future predictions.
1.4 Scope of the Study
This report is based on my practical work experience with United Commercial Bank Limited.
It will also help the students to reduce the distinction between realistic and hypothetical
knowledge. This report significantly helped me a lot to understand the atmosphere and
environment of an organization. As I am an internee of UCBL, I have access to many
different sectors like account opening procedure, clearing, chaque division, pay order writing,
foreign remittance etc. It was almost impossible for me to learn everything about all banking
sectors as it was a large financial sector with limited time.
Page: 03
13. 1.5 Methodology of the Study
I have designed the methodology of the study in the following way:
Ø Primary data sources:
1. Inspection in different desks
2. Talking with professionals in casual manner and planned analysis
3. Observation
4. Personal interview
Ø Secondary data sources:
1. Leaflets and manuals of UCBL
2. Yearly Annual Reports
3. Web site
Extensive study of the existing files, convenient case clarifications, observation and
reimbursement practice interview with the employee were done to identify the execution and
control and monitoring of the banking system.
1.6 Limitations of the Study
Current study of this report was limited. But as I was an internee, it was a big chance for me
to know the actions and behaviors of banking system, especially UCBL. I had to face some
obstacles while doing this report. Some of them are given below:
Ø Limited data resources: All types of information were not available for access, so it
was not possible to access and summarize them properly. Though I had assistance
from other employees but it was not enough for me due to their high work pressure in
the bank. Some assumptions were made due to limited information, so there may be
some personal mistakes
.
Ø Lack of experience: It was my first time, doing a report on a banking system in a
practical corporate life. So my limited experience was the main obstacle of this study.
Ø Privacy of Information: Every establishment has its secrecy that is not shared with
everyone. So this confidentiality of information was also an obstacle faced in this
study.
Page: 04
15. 2.1 Overview of the Organization (United Commercial Bank Ltd.)
“United Commercial Bank” One of the leading and fastest growing privately owned
Bangladesh based financial institution. UCBL 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, General Banking Retail Banking and
Consumer Banking right from industry to agriculture, and real state to software that provides
financial services including- personal and business banking, loans, credit and debit cards,
money transfer facility, online banking and other services. United Commercial Bank, from its
beginning gave more importance in technology integration in order to remain competitive in
the region of banking to hold their position. Keeping the network within a reasonable limit,
their strategy is to serve the customers through capacity building across multi-delivery
channels.
This bank successfully establishes itself as one of the leading first generation banks in the
country with a huge network of 158+ branches. Also consumer products like UCB cards have
been showing incredible success and soon became the leader in local market with around
40000+ card holders with 152+ ATM booths. This bank has already made a separate entity in
the territory of private sector banking through personalized service, innovative practices,
dynamic approach and efficient management by the help of 3,679 employees who always
show their dynamic performance to keep their leading position in the banking sector. They
are better positioned and balanced to make their customers capable enough for changing
times and facilitate them to compete more effectively in the market they operate. This bank is
aiming to play a fundamental role in the economic activities of the country by the expansion
of trade, commerce and industry thorough an inventive credit policy.
2.2 History of the UCBL
United Commercial Bank Limited incorporated on 26 June 1983 as a private company with
limited liability under the Companies Act 1993. The bank obtained authorization to
commence business with effect from 27 June 1983 and started banking operations on 29 June
1983 with an authorized capital of TK 35.50 million in hand with the object of fineness in
customer service and contentment.
Page: 06
16. 2.3 Vision of the UCBL
Their vision for the future is to be the bank of first preference through increases the value of
their clients, shareholders and employees and contributing to the national economy with
social commitments. Beside these they want to take some initiatives very soon. Those are:
Ø To hold the position of best private commercial bank in Bangladesh with loyalty with
particular compliances of rules and regulations.
Ø They are departing to amplify the quantity of Small and Middle - Size Enterprise
(SME) loan for the entrepreneurs in our country by different attractive products or
services. So that people can contribute more on the growth of national economy in the
country.
Ø UCBL feel the need for the society and wants to give more attention on this issue.
Therefore, they are concentrating more on Corporate social responsibility (CSR)
activities in the upcoming year.
Ø UCBL emphasizes on having proficient employees to serve their customers in the best
possible way. In order to do that, UCBL is planning to emphasis more on employees
and want to send them abroad for efficient training.
Ø They have a vision to raise their ATM (Automated Teller Machine) booths with modern
machines and high securities by this year to expand their service and serve their
customers to make them satisfied.
2.4 Mission of the UCBL
“United Commercial Banks” mission is to present financial solutions which can create,
supervise and amplify their client’s wealth by improving the quality of life in the
communities they serve.
2.5 Goals of the UCBL
Ø Enlarge a map for offering better customer services
Ø Build up a realistic deposit draft
Ø Develop initial capital plan
Ø Extend a system to make good advances
Ø Widen appropriate management structure, system, procedures and approaches
Ø Develop scientific Management Information System (MIS) to monitor banks activities
Page: 07
17. 2.6 Values of the UCBL
Ø Promote participative management
Ø Sustain quality at all levels in the organization
Ø Place customers first and give importance
Ø Emphasize on professional ethics and loyalty
Ø Consider in being a dependable corporate citizen
Ø Say or do what they believe
2.7 Purpose of the UCBL
Ø The main task of the bank is to accept deposited from various customers through
various accounts.
Ø Provides loans on easy terms and condition.
Ø It creates loan deposit.
Ø It transfers money by Pay Order (PO) and Telegraphic Transfer etc
Ø The bank is doing the transaction of bill of exchange, cheque etc. on behalf of the
clients.
Ø United Commercial Bank assists in the Foreign Exchange by issuing Letter of Credit.
Ø The bank insures the securities of valuable documents of clients.
Ø Above all, United Commercial Bank Ltd helps the businessmen financially by giving
discount facility for bill of exchange and by providing the facility of Letter of
Guarantee.
2.8 Strategies of the UCBL
Ø Make the most of all available resources to develop various plan, policies and
procedures in each of the objective and goal areas.
Ø Execute plans, policies and procedures.
Ø Utilize term of professional employees.
Ø Synchronized and steady growth of the bank.
Ø Search for a total customized solution of IT for the purpose of full automation step.
Page: 08
18. 2.9 Slogan of the UCBL:
The slogan of United Commercial Bank was “Happy Banking”. After completing thirty
years of journey it has changed its slogan and now its slogan is “United We Achieve”.
Because they believe that if we work together we can achieve everything.
2.10 Corporate philosophy
For customers
Ø To provide the most courteous and efficient service in every aspect of its business.
Ø To be innovative in the development of new banking products and services.
For employees
Ø By promoting good staff morale through proper staff training and development, and
provision of opportunities for career development.
For shareholders
Ø By forging ahead and consolidating its position as a stable and progressive financial
institution.
Ø By generating profits and fair return on their investment.
For community
Ø By assuming our role as a socially responsible corporate citizen in a tangible manner
by adhering closely to national policies and objectives thereby contributing towards
the progress of the nation.
Ø By upholding ethical values and best practices.
Page: 09
19. 2.11 Ethics, Integrity and Trust
Banking deals with public money where Ethics, Integrity and Trust is utmost important.
United Commercial Bank upholds these principles in every section by its management and
customer service. The following are the key principles of Employee codes of Ethics and
Business conduct.
Ø Provide service to customers with uncompromising integrity, utmost respect,
unwavering responsibility and dedicated citizenship.
Ø Protect privacy and confidentiality of customer information.
Ø Prevent money laundering and fraud.
Ø Demonstrate workplace respect.
2.12 Corporate social responsibilities
As one of the leading bank UCB acknowledge their responsibilities toward the society as a
whole in which we live. We care for all stakeholders, ethical functioning, and respect for
employee’s rights and welfare, respect for human beings, respect for environment and
disseminate information on CSR policy. UCB participates in social development, education,
health, sports, environment etc.
Page: 10
23. 3.1 Online banking
Online banking can be made into two ways such as Internet Banking and Mobile or SMS
(Short Message Service) banking.
3.1.1 Internet Banking
The first internet bank in the world is the United States of "Security First Network Bank"
(SFNB), is founded on October 18, 1995.
SWOT Analysis of Internet Banking:
Strengths
Ø Faster and efficient transactions
Ø No geographical barriers
Ø Low transaction costs
Ø Low labor and management costs
Ø Economies of scale
Weaknesses
Ø Highly dependent from IT infrastructures and Internet accessibility
Ø Can only target specific customers
Ø Poor product differentiation
Ø Lack of data security
Opportunities
Ø Exploitation of financial markets
Ø Networking opportunities
Ø Collaboration opportunities with other entities and service providers
Threats
Ø Competitors (especially foreign banks)
Ø Lack of efficient regulations
Page: 14
24. Internet Banking of UCBL:
UCBL Internet Banking enables customer to access their
personal or business accounts anytime anywhere from
home, office or when traveling. Internet Banking gives
customer the freedom to choose his/her own banking
hours. It can save time, money and effort. It’s fast, easy,
secure and best of all.
The following are the internet banking features for UCBL’s retail and corporate
customers:
Ø Customers are able to view the list of current, saving, term deposit and loan accounts
with the current balance.
Ø Able to see or print his transaction activity in a given account for a particular period
Ø Customer can transfer funds from one of his accounts to another of his accounts
within the bank
Ø Can open a term deposit by transferring funds from one of his current or savings
accounts with the bank. He can also modify the TD and redeem / part-redeem it
Ø Can make payment of the loan installment from his account
Ø The customer can make a request for account statement for a required period. The
bank will manually service this request
Ø Also can make a request for a cheque book
Ø The customer can query on the interest rates, term deposit products, foreign exchange
rates using this function
Ø The customer can change his internet banking password using this function
Page: 15
25. 3.1.2 Mobile Banking
Ø Mobile banking is a term used for performing balance checks, account transaction,
payments, credit application, pay bills, authorize fund transfers, and other banking
transactions through a mobile device such as a mobile phone or Personal Digital
Assistant (PDA).
Ø Also known as M-Banking, SMS Banking.
Ø The first mobile banking was operated by the National Bank of Scotland and came
into service on 5 November 1946.
Ø Mobile banking was first introduced in Bangladesh on May 15 by Dutch Bangla Bank
Ltd.
SWOT Analyze of Mobile Banking:
Strengths:
Ø Leverage Banking transaction
Ø Ease of availability
Ø Rapid growth of Mobile and Wireless market
Weakness:
Ø Lack of awareness the new channel among the mobile users
Ø Security concerns about the new channel
Ø Mobile Handset Operability
Ø Application distribution
Opportunity:
Ø Rapid increase in the Mobile user
Ø Mobile handset rich features can be embedded in the application
Ø Lowering of Mobile Tariff rate
Threat:
Ø Regulatory restrictions by “Bangladesh Bank”
Ø Acceptance of new technology
Ø Customers misuse
Ø Traditional Banking at risk Page: 16
26. Mobile Banking of UCBL
United Commercial Bank Ltd on Saturday Nov 23,
2013 launched mobile-based financial service styled
‘UCash,’ eying to expand its innovative banking
service to unbanked population across the country.
Mobile Banking is an internet based service that
delivers the convenience of online banking to your
mobile device. Mobile Banking allows you to perform
banking related transactions from your phone.
Ø UCash is currently providing mobile financial service facilities like money transfer,
purchasing and money deposit.
Ø The key feature of UCash is giving interest on deposits for the first time through
mobile financial service. It would be a special one, as people will get interest on the
money deposited by UCash service from the very first day.
SMS Banking of UCBL
Ø SMS banking is another new feature of UCB. It gives customers the opportunity to
check out their account balance in their mobile.
Ø Through this service individual can see their available account balance and drawing
account balance.
The process for SMS banking as follows:
Ø First one should have to have an account in UCB bank. Then he/ she have to fill-up an
application form in request to have SMS banking service.
Ø The bank may require three working days after receiving the application form for
activation of the service.
Ø The account holder is solely responsible to stop misuse of SMS banking services and
also to maintain the confidentiality of his/her financial information by ensuring safe
holding of the mobile phone/ connection assigned to SMS banking service provided
by UCB. If the mobile phone/ connection is lost, stolen or sold to another individual,
the account holder shall immediately notify the bank and cancel the SMS banking
service. The account holder hereby agrees that UCB shall not be responsible for any
27. disruption in SMS banking service due to any mechanical failure on the part of UCB/
mobile phone service provider.
Ø Registration form should be submitted to the branch, where the account is maintained.
Ø SMS banking service shall remain effective until otherwise advised in writing by the
account holder.
Ø The bank may revise and/ or change any of the terms and condition at any time with
notice to you but does not require any consent.
Ø By providing SMS Banking Service United Commercial Bank may collect service
charge from the linked account. United Commercial Bank may revise and/or change
the service charge at any point of time.
Mobile Banking allows the following types of services:
Ø View account balances
Ø View transaction history
Ø Transfer funds
Ø Make loan payments or advances
Common Types of Mobile Payments
Ø Near Field Communication (NFC) mobile wallet payment. NFC enables you to tap
or wave your mobile device close to a “reader” next to a cash register or on a vending
machine, turnstile, parking meter, etc. Your mobile device sends the account
information that you are going to use for the payment through a radio signal with a
short range of about four inches. The mobile wallet app stores your account number in
a secure chip in the phone or in a secure file server linked to the mobile wallet app.
Examples include Apple Pay and Google Android Pay.
Ø Mobile web payments (WAP). Use the web browser on your mobile device or a
mobile app to make a purchase on the Internet and charge it to your credit, debit,
prepaid or bank account.
Ø QR code (quick response) scans. Your mobile device produces a QR code on the
screen to be scanned at the register. The QR code provides the link to the payment
information. Usually you download a mobile app for the merchant (such as Starbucks)
or a mobile wallet (such as Level Up) that allows you to create the QR code on your
mobile device.
Ø Mobile text payments (SMS). Send a code by text message to the seller using your
mobile device to approve the payment. The purchase is charged to your wireless
service bill or a pre-paid account held by the mobile operator. Personal information,
such as payment account number, should not be sent via SMS.
Ø Direct mobile billing. Provide your mobile phone number as your account number to
the merchant. The purchase is charged to your wireless service bill. These are
normally low-dollar digital payments for items such as ring tones, screen savers, or
apps, with most mobile operators establishing a transaction and consolidated dollar
limit.
Page: 18
28. 3.2 Online Service
Online service can be divided into two sectors such as:
1. Personal online service
2. Commercial online service
3.2.1 Personal online service:
Personal online service gives to general public or individual customers. There are different
online services in UCBL, such as:
I. Online Bill Pay
II. E-Statements
III. E-Mail Alert
IV. Cheque Clearing etc.
3.2.1.1 UCB Online Bill Pay
Enjoy unlimited bill payment service and earn reward
points as you pay your bills. Online Bill pay is a
secure, easy to use payment system that enables you
to pay anyone from your utility provider to the
company that mows your lawn.
UCB's Online Bill pay offers:
Ø Convenience - FREE unlimited bill payments with no need for checks, stamps or
trips to the post office.
Ø Rewards - Earn 25 POINTS for each bill paid through Online Bill pay (Rewards
customers only).
Ø Flexibility - Set up either reoccurring or one-time payments based on your needs and
ability to pay.
Ø Security - Rest assured knowing payments are made to your payees while keeping
your account number confidential.
Ø Simplicity - Select the date on which you would like your bill sent and see what day
the payment should be received.
Ø Accessibility - Once you enter a payee's information it will be available anytime you
need to make a payment to that same payee. You can also quickly reference payment
histories for each payee.
Ø Assistance - In the event you have any issues with a payment, UCB will help you
with a resolution.
Page: 19
29. Auto Payments vs. Online Bill pay
Some customers set up automatic payments from their accounts for reoccurring bills such as
insurance premiums or utility bills in an effort to simplify their finances.
Consider the following when making automatic payments in this manner:
Ø Your account number is given to a third party for each auto payment you establish.
Ø The greater numbers of third parties that have your account information on file, the
higher your risk for fraud and identity theft.
Ø You have authorized the third party to debit your account without prior notification
regardless of your ability to cover the transaction.
Ø Continue to enjoy the convenience of an automatic payment with greater peace of
mind with Online Bill pay from UCB.
3.2.1.2 UCB E-Statements
Save paper and eliminate waste with secure Online
Statements from UCB.
Ø Reduce paper clutter.
Ø Easily retrieve and view your statements online
each month.
Ø Store your statements electronically for fast, easy
reference.
How do I enroll in E-Statements?
1. Log into UCB's Online Banking
2. Click on Options
3. Select the accounts that you would like enrolled under the E Statement Enrollment
section at the bottom
Page: 20
30. 3.2.1.3 UCB E-mail Alerts
Don't let a transaction slip your mind again! UCB can help you stay on top of your finances
with Account Alerts. Simply set the parameters for notifications you wish to receive and we
will send you the alerts you request. Receive real time alerts in your email or on your phone
when:
Ø Your balance is low or
Ø Activity has been made on your account
How do I set up an E-mail Alert?
1. Log into UCB's Online Banking
2. Under the message section click on New
3. Choose and customize your desired alert.
3.2.1.4 Cheque clearing process:
The main function of general banking division is
cheque clearing process. It’s a software base
automated electronic fund transfer system known as
BACH (Bangladesh automated clearing house).
The branches that are authorized by Bangladesh bank
to be in the BACH system can collect/transfer their
money without going from one branch to another
branch. It takes only one working day for transferring/ collecting money. Through this BACH
system all MIRC (Magnetic Ink Character Recognition, or MICR, is a character
recognition technology used primarily by the banking industry to facilitate the
processing of chaques and makes up the routing number and account number at the
bottom of a check.) chaques are get transfer from one bank to another. With the help of
BACH system all the banks inside Bangladesh can transfer and collect their money from
those branches here they don’t have an account.
Page: 21
31. This process is divided into two parts and those are as follows:
A. Inward cheque clearing process:
It’s the process in which UCB bank collects their own cheques issued by other banks.
For example: Mr. X has an account in Bank Asia at Dhaka branch but he gets a
payment cheque from a person Mr. Y who has an account in UCB bank and he gives
Mr. X a UCB cheque. This type of transaction is done through clearing. The whole
process is done through online. Now at first Bank Asia will receives the cheque from
the client and will scene the cheque issued by Mr. Y and will send the scene the copy
to UCB bank through online. UCB bank will receive the scene copy and will cross-
check the both particulars in the cheque and account holder. If everything is ok such
as cheque issue date, routing number, amount etc then UCB debits the account of Mr.
Y and send it to their principle branch. Then the principle branch deals with
Bangladesh bank and credit money to Bangladesh bank. Finally Bangladesh bank
credits money to Bank Asia and Bank Asia credits money to Mr. X.
B. Outward cheque clearing process:
It’s the opposite process of inward cheque clearing process. In this process after
receiving the cheques of other banks UCB bank receives the cheques and gives entry
in a register book. After that it scenes the cheques and sends it to respective bank.
Then the banks do the same process as inward clearing. Income from this clearing
process: UCB charges money for this online clearing process. For high value which
mean more than five Lac taka it charges sixty taka and for regular value that mean
less than five Lac it charges ten taka only. Sometimes it happens that some outward
cheques return because of insufficient money. In this situation bank debits five
hundred seventy five taka from the client account who issues the cheque as a penalty.
BEFTN Service:
United Commercial Bank Limited (UCB) has recently signed a contract with Chittagong
Stock Exchange (CSE) to provide services under the Bangladesh Electronic Fund Transfer
Network (BEFTN) held at Bangladesh Bank premises in the presence of the Governor of
Bangladesh Bank Dr Atiur Rahman; Managing Director of UCB, M Shahjahan Bhuiyan and
Chief Executive Officer (CC) of CSE Syed Sajid Husain signed the document on behalf of
the respective organizations. UCB is the first bank authorized by Bangladesh Bank to carry
out debit transactions under BEFTN. Page: 22
32. BEFTN Charge
Under the revised provision, the commercial bank are allowed to charge Tk 10 including
value added tax ( VAT ) from their clients for clearing each cheque amounting between Tk
50,000 and below Tk 500,000. Of the amount of Tk 10, the bank will have to pay Tk 8.00 to
the BB and the rest Tk 2.00 will receive by the bank. The bank is also allowed to charge
maximum Tk 60 including VAT from their clients for clearing each high valu cheque, Of the
Tk 60, the bank will get Tk 10, while the BB will get Tk 50. While maximum Tk 25
including VAT for each regular valu cheque. Of the Tk 25, the bank will get Tk 5.0 while the
central bank will receive Tk 20.
3.2.2 Commercial or Business Online service:
UCB offer a wide variety of specially product and service for your business including:
1. E-Deposit
2. Cash Management
3. Merchant Services
4. Account Analysis
3.2.2.1 UCB E-Deposit
With E-Deposit, you can make your deposits without
leaving the office! Your business banking just got
easier!
Ø Reduce your trips to the bank just to make a
deposit
Ø Learn the system quickly with our on-site
training provided
Ø Scan your checks on-site
Ø Send your deposits electronically (through online) to the bank
Ø Combine with other UCB Online services and conduct all of your regular daily
banking without leaving your desk
Ø Access your data instantly from your computer
Ø Collect deposits (through online ) from other offices
Ø Enjoy the convenience of banking from your office and the assistance of friendly
bankers who are happy to help you on site
Page: 23
33. The Benefits of E-Deposit (Direct Deposit):
Direct deposit of your paycheck is the fastest, safest, and most convenient way to get your
hard-earned wages into your checking or savings account. In addition to the speed, security,
and convenience it offers, did you know there are even more reasons to choose direct
deposit?
Ø It saves you money. Not only are your travel costs associated with getting a paper
check to the bank avoided, but many banks also offer discounts or will even waive
monthly account fees with a direct deposit.
Ø It improves your money management skills. Direct deposit allows you to direct
some of your paycheck each pay period to your savings and investment accounts.
This will help you save regularly and frequently, helping you reach your savings
goals more quickly and easily.
Ø It can earn you rewards. Some banks offer loyalty programs that reward you with
points or extra perks when you have a direct deposit.
Ø It helps you save the environment. In with the pennies, out with the pounds…by
switching to direct deposit, an individual employee, paid every two weeks, can save
a pound of paper per year and avoid the release of 1 pound of greenhouse gases into
the atmosphere due to the production and travel expenses associated with printing,
mailing, and physically depositing paper checks.
Ø It provides you peace of mind. Not only is direct deposit safer than paper checks,
it's also more reliable. You can count on your paycheck being deposited even if you
aren’t available. Whether you are on vacation, under the weather, or traveling for
work, you’ll have direct access to your funds when and where you need it.
Direct deposit can be used for your payroll checks, Social Security payments and other
government benefit checks, and best of all, most employers make signing up for direct
deposit of your payroll check easy.
Page: 24
34. 3.2.2.2 UCB Commercial Online Cash Management
A key to remaining competitive is better management of
your business' cash. UCB is at the forefront of
commercial cash management services, offering online
solutions to improve your financial operations. We can
provide your business with today's most innovative
products and technology.
UCB Cash Management services include:
Online access to accounts including:
Ø Review account activity and balances
Ø Transfer funds between accounts
Ø Pay loans
Ø Pay taxes
Ø Stop payment on checks
Ø Reconcile accounts and other activities
CD-Rom with check images and account information:
Ø Account reconciliation services
Ø Account analysis
Ø Wire transfer services
Ø Direct deposit services
Ø E-deposit
Ø ACH services including payroll, corporate payments and consumer credits / debits
Page: 25
35. 3.2.2.3 UCB Commercial Merchant Services
Offering your customers multiple payment options is
simple with UCB Commercial Merchant Services. Our
Merchant Services program provides effective and
efficient processing of Credit Card and Debit Card
transactions (Through Online).
Enjoy the benefits of Merchant Services from UCB:
Ø Increase your overall cash flow
Ø Reduce your operating costs
Ø Improve customer satisfaction by offering them multiple payment options
Ø Speed up the checkout process by adding efficiency and convenience
Ø Increase your average sale by eliminating the need for customers to carry cash
Ø Protect your business from losses caused by bad checks
Ø Avoid the risk and inconvenience of having large sums of cash
Merchant Services Include:
Ø Services for accepting Visa, MasterCard and Discover
Ø Options for processing both signature-based and PIN-based transactions
Ø A simple pricing structure including pass through pricing
Ø Delivery of direct deposit from terminal to business checking account within 48 hours.
Ø Multiple ways to accept transactions based on your current business needs.
Ø The ability to accept payments from virtually anyone, anywhere
Ø Secure transaction processing
Get Started With Merchant Services In 3 Easy Steps:
1. Complete a brief questionnaire
2. Discuss your merchant service options with your banker
3. Sign Merchant Agreement
Upon approval, necessary equipment will be delivered to your businesses within two weeks
and on-site training will be provided so you can get started right away! See a banker for
specific pricing details
Page: 26
36. 3.2.2.4 UCB Account Analysis Through Online
With business account analysis, United Community
Bank gives you a way to take advantage of the balances
you keep in your account. Although federal law says
for-profit businesses can't earn interest on their checking
accounts, you can enjoy the benefits described below.
How it Works
Each month, we compare the costs of the services you use with the value of the balances you
keep in your UCB checking account. You get a monthly statement that shows:
Ø The value of your average positive ledger balances
Ø The value of your average collected balances
Ø The charge for average negative collected balances, if any
Ø The net balances available to support the level of activity on your account
Ø Activity charges for services you used during the month
How You Benefit
Account analysis helps your business two ways. First, it ensures you pay only for the services
you use - unlike checking accounts that charge a flat monthly fee or require you to maintain a
minimum monthly balance. This service also helps you manage your accounts to your best
advantage. You can plan to maintain balances so you completely cover the costs of nearly
any United Community Bank service you use.
3.3 Banking via online system:
All transactions in UCBL are done through online banking system. By the help of online
banking system client can transfer money from one account to another account within UCBL
and also can get all their transaction details through online. UCBL uses ultimo customized
software to process daily transactions from all of its 158 branches. The activities of UCBL
are given below:
Ø Deposit cash
Ø Cash withdrawal
Ø Transfer of money from account to account
Page: 27
37. 3.4 Ten Reasons to Use Online Banking
The Internet is definitely changing the way we live. It has quickly become the choice method
of communication for many. It has also become a major factor in the financial lives of
millions. Using the Internet to interact with your financial institution can help simplify your
financial affairs. Here are ten reasons to consider using online banking:
1. You can pay your bills online. Most online institutions offer convenient bill paying
services. With these services, paying your bills just takes a mouse click.
2. You can apply for many types of loans online. Applying for a loan online is often
easier than filling out paper forms. You may even get approved faster. However, some
types of loans may still require the paperwork.
3. You can review your account activity and know your up-to-date balances. It is
easy to see which checks have cleared and monitor your balances.
4. You can transfer funds between your accounts easily. Knowing how much money
you have in each account can enable you to move money to other accounts to earn
higher rates on certain funds.
5. You can save money. Online bill paying eliminates the costs of stamps, envelopes, and
even ordering checks.
6. You can save time. You can bank whenever and wherever you want, even on the go.
All you need is a PC, tablet, or Smartphone with Internet access.
7. It can help protect against identity theft. By monitoring your account activity online,
you can catch and report suspicious transactions right away. Enrolling in E-Statements
also reduces the chance of mail theft.
8. It is safe. Most online banking activities use highly sophisticated encryption protocols
to ensure safety and privacy. Your access codes (login/passwords) should be guarded
carefully.
9. You can receive valuable information. Many institutions have electronic updates and
email messaging to keep you fully informed about any important news or special offers
they may have.
10. You can learn how to make better-informed financial decisions. Many institutions
have sections of their websites dedicated to providing useful financial education.
Page: 28
38. 3.5 Online Service Charge:
i. Cash Deposit /Withdrawal /Transfer Cheque (Intercity)
Upto Tk. 50,000/- Tk.30/- +VAT Tk 5/-
Above Tk. 50,000/- but below Tk.1.00 lac Tk.50/- +VAT Tk.8/-
Tk.1.00 lac & above but below Tk.5.00 lac Tk.150/- +VAT Tk.23/-
Tk.5.00 lac & above but below Tk.10.00 lac Tk.250/- +VAT Tk.38/-
Tk.10.00 lac & above but below Tk.20 lac Tk.800/-+VAT Tk.120/-
Tk 20.00 lac & above but below Tk.50 lac Tk.1000/-+VAT Tk.150/-
Tk.50.00 lac & above Tk.1500/-+VAT Tk.225/-
ii. Cash Deposit /Withdrawal /Transfer Cheque (within City)
Upto Tk. 50,000/- Nil
Above Tk.50,000/- but below Tk.1.00 lac Nil
Tk1.00 lac & above but below Tk.5.00 lac Nil
Tk.5.00 lac & above but below Tk.10.00 lac Nil
Tk.10.00 lac & above but below Tk.20 lac Nil
Tk.20.00 lac & above but below Tk.50 lac Nil
Tk.50.00 lac & above Nil
iii. Realization of Charges
For Withdrawal – The Service Charges shall be realized from
the bearer of the Cheque/Instrument
For De posit – The Service Charges shall be realized from the
Depositors/Remitters.
Page: 29
40. 4.1Brief description about southeast bank
As I am going to do a small comparison between UCB and Southeast bank so here I gave a
small description about SEBL. I choose Southeast bank because it’s the closest rival of UCB
as both of the banks are situated in the same floor of a building. So it’s easy for the customers
to compare between the banks and choose the best option. As a result SEBL is giving a strong
competition to UCB.
Southeast Bank Limited was established in 1995 with a dream and a vision to become a
pioneer banking institution of the country and contribute significantly to the growth of the
national economy. The Bank was established by leading business personalities and eminent
industrialists of the country with stakes in various segments of the national economy.
Southeast Bank is run by a team of efficient professionals. They create and generate an
environment of trust and discipline that encourages and motivates everyone in the bank to
work together for achieving the objects of the bank. The culture of maintain congenial work
environment in the bank has further enabled the staff to benchmark themselves better against
management expectations. A commitment to quality and excellence in the service is the
hallmark of their identity.
Services given by Southeast bank:
Ø Conventional banking
Ø Loan and advance
Ø Islamic banking
Ø SMS banking
Ø Dual currency VISA credit card
Ø SEBL ATM/ Debit card
Ø Remittance business
Ø Western union
Ø SWIFT services
Ø Locker cervices
Ø ATM services
Ø Internet banking services
Ø Bill payment services
Ø E- Statement services
Page: 31
41. 4.2 Comparison between UCB products and offerings with Southeast bank:
Here I am showing a very small area of comparison between UCB and Southeast Bank. In
this comparison I am just focusing on general banking division and online banking & service.
Products and Offerings United commercial bank Southeast bank
Special accounts UCB offers student account
and women’s savings account.
Both of these accounts are free.
Beside that women’s savings
account get 4% interest on
every year. Debit card is also
free for these accounts.
On the other hand southeast
bank doesn’t have such types of
offers.
Interest rate on savings
account
On savings account interest is
applied on the basis of yearly
transaction and deposit.
Usually UCB gives 3.50%
interest on savings accounts.
However southeast bank gives
4.25% interest on every year.
This is quite higher compare to
UCB bank.
Interest rate on Special
Notice Deposit (SND)
accounts
Depending on transactions and
deposits UCB gives interest on
SND accounts. Maximum
interest rate is 4% and
minimum 3%.
Southeast gives Maximum
interest rate is 4.5% and
Minimum interest rate is 3% on
SND accounts.
Interest rate on Fixed
Deposit Receipt (FDR)
For one month UCB gives
3.5% interest.
For three and six months and
one year 5.25% interest.
For one month Southeast
gives 4.5% interest.
For three months 5.5%
For six month and one year
months 5.75%
Charge on pay-order UCB charges only 10 taka as
commission and 15% VAT
which is applied by Bangladesh
bank on below ten thousand
taka.
Above ten thousand it’s free.
In case of pay-order southeast
charges around 120 taka for
every amount.
42. On line transaction
charge
For online transaction UCB
charges commission and vat on
different amount.
Here online transaction charge
is free.
Charge on debit card For card maintenance UCB
charges 460 taka for every
Years
Southeast charges 500 taka for
ever year.
Islamic banking UCB doesn’t have any Islamic
banking section. It only has an
account for people who don’t
want interest. This account is
interest free.
Southeast has separated Islamic
banking division and different
types of products and offering.
Online service charge Cash Deposit/Withdrawal for
any amount Within the City is
free.
Cash Deposit/Withdrawal for
any amount in Intercity those
are below:
Upto Tk 50,000--(30Tk+VAT)
Tk 50,000 to Tk 1,00,000
(Tk50+VAT)
Tk 1,00,000 to Tk 5,00,000
(150Tk+VAT)
Tk 5,00,000 to Tk 10,00,000
(250Tk+VAT)
Tk 1,00,000 to Tk 20,00,000
(800Tk+VAT)
Tk 20,00,000 to Tk 50,00,000
(1000Tk+VAT)
Above Tk 50,00,000
(Tk 1500+VAT)
Cash Deposit/Withdrawal for
any amount Within the City is
free.
Cash Deposit/Withdrawal for
any amount in Intercity those
are below:
Upto Tk 20,000---(Free)
Tk 20,001 to Tk 1,00,000
(50Tk+VAT)
Tk 1,00,001 to Tk 5,00,000
(100Tk+VAT)
Tk 5,00,001 to Tk 10,00,000
(200Tk+VAT)
Tk 10,00,001 to Tk 20,00,000
(300Tk+VAT)
Tk 20,00,001 to Tk 50,00,000
(500Tk+VAT)
Above Tk 50,00,000
(Tk 1000+VAT)
SWIFT (The Society
for Worldwide Inter
Bank Financial
Telecommunication)
UCBL Limited has SWIFT
service. The Bank SWIFT
address is UCBL BD DH. L/Cs
Charge of SWIFT is At actual.
Southeast Bank Limited has
SWIFT services. The Bank
SWIFT address is SE BD DH.
L/C Charge of SWIFT is Actual
43. 4.3 Finding from the comparison
After doing this small comparison I found that as a new bank, Southeast bank the number of
offerings are more compare to united commercial bank. Which are below:
Ø UCBL offer special account for Women & Students, which free of annul charge and
debit card charge. But Southeast Bank doesn’t any special account for customers.
Ø Southeast bank is offering a good amount of interest rate compare to UCB bank,
which drives more customers and clients from UCB to SEBL.
Ø Maintenance fee or charges for anything of Southeast Bank are higher than UCB.
Ø UCB online service charge is higher than SEBL.
Ø But UCB give free Internet or Mobile banking where SEBL take 200Tk every year.
Ø I found that both of the banks are providing services in their own way by maximizing
their profit.
4.4 Findings throughout my internship in UCBL, Savar Branch
Ø Branch Manager makes efforts to achieve the targets and knows how to motivate
employees and how to represent the Bank well in the local community.
Ø The Customer service of UCBL is very much impressive than other financial
institution.
Ø The working environment of the office is not good because of shortage of open
spaces.
Ø The bank provided online banking in all branches .The operations of the Bank are
computer oriented to ensure efficient services to the customers.
Ø Lack of employment to handle the client and satisfied them.
Ø Unorganized filling. That’s why employees take long time to found that file.
Page: 34
45. 5.1 Internship
Internship is very significant for anyone because one can gather realistic information in this
time. I have completed my internship program within August 08 to November 07, 2016. I
have learnt many things about General Banking in this three months internship program. I
found a responsive working atmosphere and I felt like I was one of them. Each of my
colleagues assisted me very much to understand the assignment easily.
5.2 Job Description
I occupied myself in a variety of types of works throughout the time of my internship period
which is given below.
Ø Opening accounts
Ø Preparing pay orders
Ø Issuing cheque books
Ø Providing client statements
Ø Changing Account information
Ø Checking cheques whether its fraud or real
Ø Calling clients to deliver their cheque book and debit card.
Ø Write down deposit slip and cheque.
During this period of internship program, I primarily worked in General Banking segment.
Still, this short period of time.
5.3 The daily work routine
I start my work in the bank in the official time, at 10.00 am and end working at 6.00 pm. I
used to work in different desks from starting the office to till the end of the office.
5.4 Team working
I was not alone when working as an intern. Many other students like me were there to
complete their assignment too. So to get better result, we worked together as a team.
Page: 36
46. 5.5 Learning Points
I have learned different documents throughout my internship program which are given below:
5.5.1 Posting of the accounts
Firstly, I make the KYC number and input the customer name and separate the customer
Retailer or Corporate then I input the client’s personal information such as date & place of
birth mobile number and save the KYC. Secondly, I make the CIF number and input the
customer personal information such as name, father’s name, mother’s name, if spouse has,
then his/her name, address, phone number, etc. then I go to MIS function and input the sector
code of the account holder, i.e. service holder, businessman, student or housewife, etc. is also
posted. Finally, I make account number and input the customer transaction and nominee’s
information like name, address, age, relation with the client, and share of the percentage is
also put. Then the amount of money as well as if it is a savings or current account, the
introducer’s information is also necessary.
5.5.2 Issuing pay order slip
The pay order form must be filled up at first. The form includes information like, to which
individual it issued, and the sum of money and the name of the client. Then the commission
and vat are included according to the sum of money. The pay order block is prepared in
which in the front of the page, “NOT OVER ……. TK ONLY” is written in block letter after
receiving cash in the cash counter.
5.5.3 Issue of the cheque book
Many steps are followed while issuing cheque book. The verification of client’s signature is
done at first. Then the cheque book is given. The books serial number is written down in the
requisition slip and cheque register. After completing all steps, the client’s signature is taken
on the cheque register.
5.5.4 KYC form completion
The abbreviation of KYC is Know Your Customers. Client’s full information is given here.
That includes submitted documents for identification, amount of money to be deposited or
withdrawn in a month, earning source etc.
Page: 37
47. 5.5.5 Clearing House Register
A vital part of general banking is Clearing House Register. Received cheques are written in
this book. Client’s name and account number, amount of money, name of the bank, clearing
date, branch of that bank, cheque number and again amount of money are the basic things
which are included in the book.
5.5.6 Deliver of Debit Card
To deliver debit card, Firstly, we verified the signature card and see photo to match the
person. Then we take the signature in debit card register. then finally, we handover the card
to the customer
5.5.7Call the cline’s for received cheque book and debit card
We call the cline’s for receive the cheque book and debit card. When cheque book and card
come to bank, we receive them and entry the register. Then we call the cline and say for
receive them and also said that if you late to receive the cheque book and debit card, then we
send them to head office. So you should come soon for receive them.
5.5.8 Write down Deposit slip
We also write down the deposit slip for helping the clines.
Page: 38
49. 6.1 SWOC Analysis
SWOC mean strength, weakness, opportunity and Challenges. The detailed study of an
organization’s coverage and prospective in perception of its potency, flaws, chances and risks
is called SWOC analysis. It is needed to make the current way of performance and also
predict the outlook to develop their performance compared to opponents. The organization
can learn about their current situation in the market with the help of this tool. It also plays an
important role in making modification in the planned administration of the organization. The
SOWC of UCBL is given here in brief:
6.1.1 Strength of UCBL
ü A very experienced administration group operates the United Commercial Bank
Limited. The top managing executives of the bank is the main strength for UCBL.
Because they have all worked in reputed banks and their years of banking knowledge,
proficiency, and capability will continue to help towards more development of the
bank. As it is one of the top private sector commercial banks in Bangladesh, It has
shown a marvelous expansion in the profits and deposits sector.
ü The bank has 158 branches (come soon to open a new branch in hemayatpur) all over
the country to provide better service to the customers. Every branch is located in a
comfortable, convenient and secure place so that customer’s feels safe and secure
while doing transactions.
ü The management of UCBL has created a very friendly, interactive and informal
culture inside the bank. And, there are no concealed obstacles or limitations while
corresponding between the low level employees and the high level employees. By
working in this type of environment, employees feel more motivated and encouraged
to work.
ü UCBL is one of the top banks which give quality service to the customers.
ü UCBL has various types of products and services to offer, so the customers can
choose the best products according to their needs.
ü The bank has a fully operational and fast online service all across the country.
ü The bank gives highest interest rate for women savings deposit scheme. It also gives
special offer for student and women. For student and women they offer accounts
which offer zero maintenance cost, free cheque book and debit cards.
Page: 40
50. 6.1.2 Weakness of UCBL
ü Sometimes it seems that because of centralized management system it takes time to
take any decision.
ü They are giving less interest rate on FDR and savings scheme compare with other
private banks. The profit rate UCBL is provided is not sufficient compared to other
banks. So when it comes to making investments, customers feel less interested to
invest in UCBL.
ü The bank does not have any long-term strategies whether it wants to focus on retail
banking or become a corporate bank. The path of the future should be determined
now with a well-built practical strategy.
ü The bank has an insufficient work force. As it has a weak recruitment policy, it has
failed to provide more human resource and as a result it has failed to provide efficient
customer service.
ü Some of the job in UCBL has no path for promotion. So people feel less motivated to
work in those positions. This weakness of UCBL is creating a group of unsatisfied
employees.
ü When it comes to marketing, UCBL has to give more emphasis on that.
6.1.3 Opportunity for UCBL
ü In the recent time, a great number of private banks coming into the market. In this
competitive atmosphere UCBL must develop its product line to improve its
prolonging spirited benefit. They can introduce the ATM to participate with the local
and the foreign bank in that product line. They can initiate credit card and debit card
system to attract their potential customers.
ü In addition, Special corporate scheme can be introduced for the corporate level
customers or customers with a high income. They can also initiate various schemes
for service holders. The schemes for the service holders must be created according to
their type of profession, level of earning etc.
ü The country’s increasing population is learning to adopt consumer finance.
Opportunity in retail banking lies here. The average people in our country are of
middle class. Various types of retail lending products have immense appeal to this
class. So a wide variety of retail lending products has a very large and easily
pregnable market. Page: 41
51. ü They should develop their IT system and start SMS banking at least every district.
ü They should deduct their commission charge for online money transfer.
ü They should start mobile banking like DBBL.
ü UCB can introduce internet banking service
6.1.4 Challenges for UCBL
ü There is an increase in the growth of new multinational banks and upcoming foreign,
private banks. It poses massive threats to UCBL. If it happens, UCBL has to develop
their current marketing strategy or create new strategy to prevail successfully in the
banking business.
ü The default risks of all terms of loan have to be minimizing in order to sustain in the
financial market. Because default risk leads the organization towards to bankrupt.
UCBL has to remain vigilant about this problem so that proactive strategies are taken
to minimize this problem if not elimination.
ü The payment scale for middle to lower employees must be reconsidered or the good
and efficient employees will look for employment somewhere else. If it happens, it
will greatly affect the management of the bank.
ü The economy of Bangladesh is not stable. The variation of economic situation may
affect the banking business.
Page: 42
53. 7.1 Suggestions for further improvement
As per the report requirement and doing three months of internship in the bank and based on
my finings and analysis, I would like to give some suggestions for their further improvement.
The suggestions are given below-
Better Customer Service should be provided in order to attract more clients.
Increasing number of unsatisfied customers will incur loss to the organization.
In this edge of competition UCB should introduce Islamic banking section to grab
more customers.
Now a day’s people are very busy and use internet to get information. For that UCB
should develop a more organized and effective web-site so that customers can get
necessary or basic information about the bank products, offers and interest rate.
It needs to bring some improvisation into the ATM card service to gain the customers
satisfaction.
UCB does not give their high attention on advertisement on Newspaper, TV, and
Radio etc. As a competition market it is too much important for any organization to
increasing their advertisements procedure to provide information to the clients &
Probable clients.
54. Conclusion
United Commercial Bank is one of the most promising private commercial banks in
Bangladesh. Every day United Commercial Bank makes an effort to increase their product
and services although they provide a wide range of product and services. It is committed to
provide high quality financial service to contribute to the growth of GDP of the country and
the growth of industrialization, boosting up export, creating employment opportunity for the
educated youth, raising standard of living of limited income group and overall sustainable
socioeconomic development of the country. UCB always tried its level best to perform
financially well. In spite of trying to do well in some aspects UCB faced some financial
problems from time to time. Some of the problems were-excessive bad loans, shortage of
loans and advances, scarcity of cash in hands due to vault limit etc. These problems arouse
time to time due to economic slowdown, interest rate fluctuation, emerging capital market,
inflation in the money market and so on. Fighting with all these problems and competing with
other banks every moment the bank is trying to do better to best. If this thing continues we
hope that United Commercial Bank will develop even more in the future.
Banking sectors no more depends on only on a traditional method of banking. In this
competitive world banking sector has stretched its wings wide enough to cover any kind of
financial services. Not only from the local banks but also from the foreign banks, the banks of
today face a tough competition. The major tasks of banks for banks to survive in this
competitive environment are by managing its assets and liabilities in an efficient way. To
make the assets especially loan and advances banks must have to more cautious and
otherwise these asset will became a burden for the bank. To have fruitful investment bank
must have to do the marketing their product perfectly.
56. Appendix
Corporate Information at a Glance:
Name United Commercial Bank Limited
Date of Incorporation 26 June, 1983
Commencement of Business 27 June, 1983
Registered Office Bulus Center, Plot – CWS – (A) – 1, Road No – 34,
Gulshan Avenue, Dhaka – 1212, Bangladesh
Date of Listing with DSE & CSE DSE, 30 November, 1986 & CSE – 15 November, 1995
Chairman Mr.M.A.Sabur
Managing Director Mr. Muhammed Ali
No. of Branches 158 and come soon to open Hemayetpur Branch
No. of ATM Booth 152
No. of SME Centers 2
No. of Women’s Branches 1
Off-Shore Banking Unit 1
Auditors Hoda Vasi Chowdhury & Co. Chartered Accountants
Swift Code UCBL BDDH
Telephone No +88-02-55668070, +88-09611999999
E-mail info@ucbl.com
Website www.ucbl.com
Fax +88-02-55668070-6000, +88-09611999911-520
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