“Analysis on General Banking of Jamuna Bank Limited.�
CHAPTER ONE INTRODUCTION 1.1 Introduction Jamuna Bank Limited is a financial institution that operates with the objective to complete the economic and financial principles of banking area. Banking sector plays a significant role in achieving the high economic growth of the country. A bank is a financial institution whose main aim is to earn profit through exchange of money and credit instruments. So, the banking system occupies an important place and plays an important role in a nation’s economy. In recent time this sector has been changing a lot due to regulation, technological innovation, globalization etc. banking sector in Bangladesh is lagging behind in adopting these changes. Bank is the oldest institution that is contributing toward the development of any economy It is treated as an important service industry in modern world. Now a days the function of the bank is not limited in the same geographical limit of the country. Due to globalization and free market in economy, this industry facing much competition in the country and the implementation of WTO will further increase competition. The overall performance of the bank does not only depend upon the banking industry itself but also on performance of economy where it is operating. The Banking sector in Bangladesh is different from the banking sector in developed countries. This is one of the major service sectors in Bangladesh economy and can be divided mainly in to four categories- Nationalized Bank, local Private Bank, Specialized financial Institutions, and Foreign Banks. . 1.3 Objectives of the study The main objective of study is to know the "general banking activities-An overview of Jamuna Bank Limited". And the specific objectives are:
●To appraise the principal activities and evaluate performance of the Jamuna Bank Limited. ●To find out how its present strategy is working. ●To observe the working environment. ●To find out the SWOT of JBL. ●To find the potential of future growth of the bank. ●To gain an idea about the financial performance of JBL. 1.4 Scope of the study The scope of the study on General Banking Activities.An overview of Jamuna Bank Limited. It is hardly possible to become familiarized with the total operation of the bank decently within a short period of time. In this report it has been tried to focus on the general banking activities of the bank. The scope of the report encompasses the areas covered by the organization part has been carried out to focus on the total General Banking Operation conducting the bank, which has included in the internship part. The organization part start with the history of Jamuna Bank Limited and end with ultimate performance of the Jamuna Bank Limited. 1.5 Limitations of the study Although the officials were so busy, they gave me wholehearted cooperation in the time of internship also in preparing this report. It was such nice experience I have gathered from JBL. But I have faced the following problems that may be limitations of the study.
▬ Lack of records Sufficient books, publications and figures were not available. If this limitation were not been there, the report would have been more useful. The study has the following limitations: ● One of the main limitation of the study is inadequate access to information, which has hampered the scope of the analysis required for the study.
● The time is insufficient to know all activities. ● It was very difficult to collect the information from various personnel for their job constraint. ● Because of the limitations of information, some assumption was made. So there may be some personal mistake in the report. CHAPTER TWO METHODOLOGY OF STUDY PRIMARY SOURCES OF DATA SECONDARY SOURCES OF DATA Methodology of the study It is very difficult to collect relevant data from a person other than the regular employees of the bank, Because information relating to the performance of the branch office usually is restricted to be disclosed without the permission of the head office or approval of the appropriate authority. That’s why I frequently have to visit head office, and to take help from many other sources for getting relevant information. The sources of information used are: Primary Data are collected through: ●Observation for the total internship period. ●Conducting oral discussion with both customers and staff of the branch. ● Deskwork during my practical training. Secondary Data collected from: ● From the organization’s Brochures/ Annual report ● Online information ●Research report regarding the bank. CHAPTER THREE
4.1 Overview of Jamuna Bank Limited Jamuna Bank Ltd. Dilkusha Branch At a glance: The with a view to developing their own banking sector, fulfill client's demand and to survive in the tough competition of branch banking. Jamuna bank Ltd. has decided to spread their sectors and for this purpose they step to open some new branches. And as a result of their such dream and decision, Dilkusha Branch (our target branch) has come to day light and a new chapter of Jamuna Bank LTD's banking services begin. This branch started to serve People at the middle of the year 2002. Name of the branch: Dilkusha Branch. Address: 33th Dilkusha Commercial area, Dhaka-1000. Time of establishment: July 3rd, 2002. First Branch Manager: Mr. Y.N ADNAN Executive Vice President Present Manager: Mr. Md. Nazmul Hossain Senior Executive Vice- President Number of employees: 17. (Branch Manager-1, Asst. Manager-1, Human resource
Manager-1, Accountant-2 and
others.) Number of clients at present: 3,319 Current account-757 Fixed account-180 Savings Account-2382. Jamuna Bank Limited (JBL) is a Banking Company registered under the Companies Act, 1994 with its Head Office at Chini Shilpa Bhaban, 3, Dilkusha C/A, Dhaka-1000. The Bank
started its operation from 3rd June 2001. Jamuna Bank Limited is a highly capitalized new generation Bank with an Authorized Capital and Paid-up Capital of Tk.1600.00 million and Tk.390.00 million respectively. The Paid-up Capital has been raised to 429.00 million and the total equity of the bank stands at 725.00 million as on June 30, 2005. Currently the Bank has 35 (Thirty Five) branches: ●14 in Dhaka, ●6 in Chittagong, ●2 in Gazipur, ●3 in Sylhet, ● Bogra, ●2 in Naogaon, ●1 in Munshigang, ●1 in Shirajganj, ●1 in Rajshahi and ●1 in Narayanganj (including Nine Rural Branches). The Bank undertakes all types of banking transactions to support the development of trade and commerce of the country. JBL's services are also available for the entrepreneurs to set up new ventures. Jamuna Bank Ltd., the only Bengali named new generation private commercial bank was established by a group of winning local entrepreneurs conceiving an idea of creating a model banking institution with different outlook to offer the valued customers, a comprehensive range of financial services and innovative products for sustainable mutual growth and prosperity. The sponsors are reputed personalities in the filed of trade, commerce and industries. The Bank is being managed and operated by a group of highly educated and professional team with diversified experience in finance and banking. The Management of the bank constantly focuses on understanding and anticipating customers needs. The scenario of banking business is changing day by day, so the bank's responsibility is to device strategy and new products to cope with the changing environment. Jamuna Bank Ltd. has already achieved tremendous progress within only Seven years. The bank has already ranked at top of the quality service providers & is known for its reputation. The operation hour of the Bank is 9:00 A.M. To 5:00 P.M. from Sunday to Thursday with transaction hour from 9:00 A.M. to 3:00 P.M. The Bank remains closed at Friday and Saturday including government holidays.
4.2 Objectives of JBL ● To earn and maintain CAMEL Rating 'Strong'. ● To establish relationship banking and improve service quality through development of Strategic Marketing Plans. ●To remain one of the best banks in Bangladesh in terms of profitability and assets quality. ● To introduce fully automated systems through integration of information technology. ●To ensure an adequate rate of return on investment. ●To keep risk position at an acceptable range (including any off balance sheet risk). ●To maintain adequate liquidity to meet maturing obligations and commitments. ●To maintain a healthy growth of business with desired image. ●To maintain adequate control systems and transparency in procedures. ●To develop and retain a quality work-force through an effective human Resources Management System. ●To ensure optimum utilization of all available resources. ●To pursue an effective system of management by ensuring compliance to ethical norms, transparency and accountability at all levels. 4.3 Strategies of JBL ●To raise capital up to TK.1000.00 million by 2004. ●To manage and operate the bank in the most efficient manner to enhance financial performance and to control cost of fund. ●To strive for customer satisfaction through quality control and delivery of timely services. ●To identify customers’ credit and other banking needs and monitor their perceptions towards
our performance in meeting those requirements. ●To review and update policies, procedures and practices to enhance the ability to expand better service to customers. ●To train and develop all employees and provide them adequate resources so that customers’ needs can be responsibly addressed. ●To promote organizational effectiveness by openly communicating company plans, policies, practices and procedures to all employees in a timely fashion. ●To cultivate a working environment that fosters positive motivation for improved performance. ●To increase direct contact with customers in order to cultivate a closer relation between the bank and its customers. ●To diversify portfolio both in the retail and wholesale market. 4.4 SWOT Analysis of JBL SWOT analysis is an acronym of an organizations strengths, weakness, opportunities, and threats. This underlying assumption of analysis is that mangers can better formulate a successful strength after they have carefully reviewed the organizations strengths and weakness in the light of the threats an opportunities, presented by the environment. With my little experience I would like to mention the SWOT of JBL bellow. ►Strengths: ●Satisfactory capital base. ●Low infection in loan ●Exposure ●Prospective IT infrastructure ►Weakness: ●Limited market share. ●Exposure to large loan ●Excessive dependency on term deposits. ●Weak fund management.
●High cost of fund. ●Islamic Branch funds are not ring fenced ►Opportunities: ●Regulatory environment ●favoring private sector Development. ●Credit card. ●Small and medium enterprises ►Threats: ●Increased competition in the market for quality assets. ●Supply gap of foreign currency. ●Over all liquidity crises in money market 4.5 Operations, products and services of JBL ◘ Operations: Values of Jamuna Bank Limited:
●To be one JBL by holding and guiding the values. ●To have a strong customer focus and to build relationship based integrity; superior service and standard bank benefit. ●To strive for private and sound growth, to work as a term to serve the best interests of the organization. ●To work for continues business innovation and improvements. ●To values and respect people and make decision based on merit. ●To provide recognition and reward on performance. ●To value open and honest communication. Branch Networks: The number of branches of Jamuna Bank Limited is now 35. And very soon the authority is going to open few more branches at important places.
Branches are: Mohakhali branch, Dhaka, Sonargaon road branch, Dhaka, Moulvi bazar branch. Dhaka, Goala bazar branch, Sylhet, Agrabad branch,Chittagong, Dilkusha branch. Dhaka, Beani bazar branch, Sylhet, Sylhet branch, Dhaka, Shantinagar branch. Dhaka, Gulshan branch, Dhaka, Dhanmondi branch, Dhaka, Noyabazar branch ( Islami Banking Branch), Dhaka, Mohadevpur branch, Noagoa, Noagaon baranch, naogaon, Khatungonj branch, Chittagong, Konabari branch, gazipur, Bhatiyari branch, Chittagong, Foreaign Exchange branch, Dhaka, Jubilee road branch (islami banking), Chittagong, Chistia branch, Dhaka, Bogra branch, Bogra, Baligaon branch, Munshigonj, Narayangonj branch, narayangonj Motujheel branch, Dhaka, Rajshahi branch, rajshahi, Bashurhat branch, Noakhali, Dholaikhal branch, Dhaka, Bahaddarhat branch, Chittagong, Sirajgonj branch, Sirajgonj, Banani Branch, Dhaka, Ashulia branch, Dhaka, Mawna branch, gazipur, Dinajpur branch, dinajpur, Kushtia branch, Kushtia, Kadamtali branch. Chittagong. Maintaining procedure of accounting statement at branch level: The branch of the bank maintain their account to monthly, quarterly, half-yearly, and yearly. ◘Products of JBL ►Deposit scheme: Besides Current Deposit Account, Savings Deposit Account, Short Term Deposit Account, Fixed Deposit Account JBL provides the following customer friendly deposit schemes: Lakhpati deposit Scheme, Kotipati Deposit Scheme, Monthly Benefit Scheme, Education Savings Scheme, Millionaire Deposit Scheme, Marriage Deposit Scheme, Double/ Triple growth deposit Scheme, Monthly savings Scheme etc ◘ Services Of JBL ►Corporate Banking: The motto of JBL's Corporate Banking services is to provide a personalized solution to our customers. The Bank distinguishes and identifies corporate customers' need and designs tailored solutions accordingly. Export deal, a working capital requirement or a forward cover for a foreign currency transaction, our Corporate Banking Managers will offer you the accurate solution. Our corporate Banking specialists will render high class service for speedy approvals and efficient processing to satisfy customer needs. Corporate Banking business envelops a broad range of businesses and industries. Agro processing industry (Import Substitute / Export oriented) Textile Spinning, Dyeing, printing, Export Oriented Garments, Sweater. Food & Allied, Paper
& Paper Products, Engineering, Steel Mills, Chemical and chemical products etc., Telecommunications, Information Technology, Real Estate & Construction, Wholesale trade, Transport · Hotels, Restaurants, Non Bank Financial Institutions, Loan Syndication , Project Finance · Investment Banking, Lease Finance · Hire Purchase · International Banking, Export Finance, Import Finance ►Personal Banking Personal Banking of Jamuna Bank offers wide-ranging products and services matching the requirement of every customer. Transactional accounts, savings schemes or loan facilities from Jamuna Bank Ltd. make available to all a unique mixture of easy and consummate service quality. They make every endeavor to ensure their clients' satisfaction. Their cooperative & friendly professionals working in the branches will make your visit and enjoyable experience.
► Online Banking Jamuna Bank Limited has introduced real-time any branch banking on April 05, 2005. Now, customers can withdraw and deposit money from any of its 30 branches located at Dhaka, Chittagong, Sylhet, Gazipur, Bogra, Naogaon, Narayanganj and Munshigonj. Their valued customers can also enjoy 24 hours banking service through ATM card from any of Q-cash ATMs located at Dhaka, Chittagong, Khulna, Sylhet and Bogra. All the existing customers of Jamuna Bank Limited will enjoy this service by default 4.6 Visions of JBL
To become a leading banking institution and to play a pivotal role in the development of the country. 4.7 Mission of JBL The Bank is committed to satisfying diverse needs of its customers through an array of products at a competitive price by using appropriate technology and providing timely service so that a sustainable growth, reasonable return and contribution to the development of the country can be ensured with a motivated and professional work-force. 4.8 Corporate Slogan of JBL “Your Partner For Growth”
4.9 Growth themes of JBL There are three themes of JBL for their growth ● Introducing card network and electronic banking. ● Expanding personalized services. ● Building strong presence in the market with reputation. 4.10 Future Trust of JBL ● Full on-line banking. ● Introducing more innovative products and services. ● Opening new branches including Islami banking branch. ● Dealing Room Service for Corporate Customers and high net worth individuals. ● Expansion of business network at home and abroad.
4.11 Business Performance JBL has registered a steady growth in all spheres of its operations and expects to attain better results in the days ahead. 4.12 JBL Corporate Culture Employees of JBL share certain common values, which help to create a JBL culture: ● The client comes first. ● Search for professional excellence. ● Openness to new ideas and new methods to encourage creativity. ● Quick decision-making. ● Flexibility and prompt response. ●A sense of professional ethics. 4.13 ORGANIZATIONAL STRUCTURE To achieve its organizational goals, the bank conducts its operations in accordance with the major policy guidelines laid downs by Boards of Directors, the final decision making body of the bank. The management looks after the day-to-day operation of the bank. Management The management structure and the executives owing the posts are given below: Managing Director
Executive Vice President
Senior Vice President
Senior Assistant Vice President
Assistant Vice President
Other Executives Following the above structure, the name of the executives owing the posts are given below: Deputy Managing Director Mr. K. Shamshi Tabrez Executive Vice President Mr. Y. N Adnan Mr. Kazi Fariduddin Ahmed Mr. Sk. Ruhul Amin Mr. Mohammed Abdul Gaffer Chowdhury Mr. Abdus Salam Senior Vice President Vice President Mr. M. Hassan Ali Mr. Shahrukh Ahmed Mr. Md. Nazmul Hossain Mr. A.K.M. Saifuddin Ahamed Mr. Md. Mahbubul Hoque Mr. Shahedul Alam Khan Mr. Miza Elias Uddin Ahmed Mr. Shafiqur Rahman Khan
Mr. Md. Balayet Hossain Mr. Md. Elias Ali Akanda Ms. Nur-E-Jannat Begum Mr.Md. Monjurul Ahsan Chowdhury Mr. Mahboob Alam Choudhury Mr. Quzi Mamun-UI-Ashraf Mr. Istiaqul Jalil Khan Mr. Ahmed Parvez Shamsddin Mr. Khorshed Ahmed Nayeem Senior Assistant Vice President Mr. Mokhlesur Rahman Mr. Amiruddin Chowdhury Mr. Fazlul Jalil Mr. Md. Belal Hossain Mr. Khandaker Zia Hassan Mr. Md. Mofazzal Hossain Assistant Vice President Mr. H. A. Z. M. Mahegir Mr. Monsuruzzaman Mr. Zashim Uddin Mr. Md. Zaved Tariq Mr. Md. Shamsur Rahman Majumder Syed Shakir Uddin Mohd. Munir Zahurul Islam Khondoker Mr. Md. Habibul Islam Mr. Sk. Md. Salahuddin 4.14
RESOURCES AND CAPABILITIES:
JBL is well prepared to and capable of meeting the demand for a board range of banking services. It has got adequate resources, both human and physical, to provide the customers with the best possible services. 4.15
PHYSICAL AND TECHNOLOGICAL RESOURCES:
A great deal of investment for developing the physical resources base of the bank has been made. At present, there are 35 branches conveniently located branches throughout Bangladesh. The branch located at Dhaka, Chittagong, Sylhet, Naogaon and other districts.
Major features of these branches are;
4.16
Fully computerized accounts maintenance.
Well decorated and air conditioned facilities.
Money counting machine for making cash transactions easy and prompt.
A group of professional bankers to render personalized services.
HUMAN RESOURCES:
Human resource development and management has been proved as one of the most critical aspects of attaining organizational effectiveness. Human Resource management (HRM) is concerned with the “people dimension in management”. Jamuna Bank Limited, since its inception, has placed equal emphasis on all the four key functions of the process of HRMacquisition, development, motivation and retention. The various programs undertaken by the Bank to enrich the quality of human resource are mainly aimed at increasing professional knowledge and skill levels of employees through training and development, in order form a well-equipped work force for providing superlative services to the customers. The reinforcement and enhancement of motivational aspects of the employees, at the same time, have remained one of the major concerns, as we all know that “success of an organization lies in getting employees to give them little bit extra.” Jamuna Bank considers quality Human Resources as the single most valuable asset for the Bank to attain organizational goals.
4.17 HUMAN RESOURCES OBJECTIVE OF JAMUNA BANK LTD: Human resource objective of Jamuna Bank is to provide the organization’s requirements on human resource demand on its various sectors. HR functions in Jamuna Bank refer to policies and practices to carry out personnel aspects of the organization. These practices and policies are the followings: • • • • • • • • • • 4.18
Conducting job analysis (determining nature of each employee’s job) Planning employee needs Selecting and recruiting job candidates Orienting and training new employees Managing wages and salaries Providing incentives and benefits Appraising performance Counseling and disciplining Training and developing Building employee commitment
RECRUITMENT:
There is no alternative to skilled and trained manpower in service Industry. Bearing this in mind the well educated, promising and honest workers are being appointed and trained. Southeast bank has given top priority for developing skilled manpower and introducing them with modern technologies with the purpose to develop quality customer services. Southeast bank recruit experienced bankers as well as fresh university graduates. In general, the board of directors determines the recruitment policy of the bank from time to time. The minimum entry-level qualification for any official position other than supportive management is a Bachelor degree. However, informally the management prefers a minimum master’s degree
for the appointment of Probationary Officers / Management Trainee in the Executive Officer position. The recruitment for entry-level positions begins with a formal written test. After successful completion of the written test, a personal interview is conducted for the successful candidates by a panel of experts comprising of renowned bureaucrats and prominent bankers of the country. 4.19
TRAINING:
The Bank gives utmost importance to impart training to build up quality manpower at every level and focuses on motivational devices for appropriate career progression of the employees. The Bank regularly organizes various training courses at its own Training Institute in Head Office, Bangladesh Institute of Bank Management (BIBM) and the Institute of Bankers. Apart from imparting training, officials / executives of the Bank often participate in various seminars and symposiums outside the country to acquaint them with global banking environment. (4) In the year 2006, 53 employees were sent to BIBM for training on different Banking policies and strategies, 54 employees were also sent for foundation training at BIBM and 816 employees were trained at Bank’s training institute and different Institutions in the country for participating in workshops, symposiums etc. Besides on invitation of Foreign Banks and Organizations, 28 employees were sent in the different part of globe to attend seminars, workshop and symposiums, which made themselves aware of the latest knowledge and techniques of modern banking. (6) 4.20
FINANCIAL RESOURCES
Like any other financial intermediaries, JBL is no exception in performing its core functions viz. mobilization of funds and utilizing such fund for profitable purposes. AA.
MOBILIZATION OF FUND
Deposit: Deposit is the mainstay of JBL sources of funds. The following include the usual types of deposits of the bank; BB
Current Deposit Savings Deposit Term Deposit
UTILIZATION OF FUND
JBL utilizes its fund in accordance with its organizational goals and corporate strategy. Main use is for lending to industrial and trade sectors. Placement of funds in Nostro Accounts to handle foreign trade and investment in money market is also done as usual. 4.15 SIGNIFICANT ACCOUNTING POLICIES: AA
REGULATORY
The financial statement of the bank have been prepared in accordance with the guidelines prescribed by the Bangladesh Bank (the Central Bank of the country), Banking Companies Act, 1999 and the Companies Act, 1994.
BB
ACCRUAL BASIS OF ACCOUNTING
The financial statements have been prepared, except for cash flows statements under the accrual basis of accounting. CC
ADVANCES AND INTEREST THEREON
Loans and advances have been stated at gross value as per requirement of the banking companies Act, 1991. Interest calculates on daily product basis but charges monthly/quarterly. No interest is charged on classified loans and advances from the date of filling suits against the borrowers. DD
INTEREST AND DISCOUNT INCOME
Interest and discount income has been stated at gross value as per requirement of the Banking Company Act, 1991. EE
PROVISION FOR BAD AND DOUBTFUL DEBTS
General provisions against classified non-performing loans (substandard, doubtful and bad) are made on the basis of informing famished by the branches according to Bangladesh Bank BRPD Circular no. 16 dates 6th December 1998 and BRPD Circular no. 09 dated 14 th May 2001. FF
INVESTMENT
Investments in Government Treasury bills are started at face value. Investments in Bond are started at cost. GG
REPORTING PERIOD
The financial period of the company covers one calendar year from 1 January to 31 December consistently. HH
CASH FLOW STATEMENTS
Statement of cash flows is prepared in accordance with IAS-7 ‘Cash Flow Statement’. II
CASH AND CASH EQUIVALENT
In indicates cash on hand and bank deposits, which were held and available for use of the company without any restriction. JJ
EARNING PER SHARE
The company calculates Earning per Share (EPS) in accordance with the international Accounting Standards (ISA) 33 ‘Earning per Share’ as adopted in Bangladesh. Basic Earning per Share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year. KK
FIXED ASSETS
Fixed assets are valued at cast less accumulated depreciation. Cost represents cost of acquisition or construction. Expenses of maintenance and repairs are expensed; major
replacement, renewals and betterment’s are capitalized. LL REVENUE RECOGNITION Income recognized on accrual basis. Interest income is only recognized if its realization is reasonably certain MM
DEPRECIATION
Depreciation on fixed assets has been calculated adopting reducing balance method on assets at varying rates depending on the class of assets, method and rates of providing depreciation are consistently applied. The percentages of depreciation are as follows; Vehicle Furniture and Fixtures Office equipment
NN
20% 10% 15%
FOREIGN CURRENCIES
Assets and liabilities denominates in foreign currencies are converted into Bangladesh Taka at the rules of exchange ruling at the Balance Sheet Date and transactions in foreign Currencies during the year are converted at the rates of exchange ruling at the transaction dates.
Chapter Four General activities ASSESSMENT 5.1 Overview on “General activities of Jamuna Bank Limited” Jamuna Bank Limited has its prosperous past, glorious present, prospective future and under processing projects and activities. JBL provides customer service to their customers. At the period of internee I found the following of JBL at Dilkusha branch. ●Dispatch ●Account Opening ●Cheque clearing ●Local Remittance ●Cash department
●Accounts. ●Foreign exchange ● Credit All the employees of Dilkusha branch helped me to complete my job and I tried to describe my knowledge, which I gathered from my internship period. 5.1.1 Dispatch: The main function of dispatch division is dispatching all types of documents such as OBC, IBC, LBC, and different types of letter, different advice Also dispatch division receives letter and documents, which are may be come from the different branches of JBL, other banks, negotiation and opening bank(incase of export and import) in the name of Jamuna Bank Limited. The staff involve with dispatch division maintain two types of mail, which is Inward mail & Outward mail. Inward mail: When staff receives any letter or documents from out side of the branch then he done following function which is arranged at sequentially: ●First put receive seal on the letter or document ●Put a serial number ●Register in the inward book with receiving date. Outward mail: When it is necessary to dispatch any types of letter or document outside of the Dilkusha branch the dispatch staffs done following job, which are, arrange sequentially: ●Put serial numbers ●register on outward mail register book with date. Outward dispatch is done in by courier service: Courier services are used when documents or letters dispatch to other branches of Jamuna Bank Ltd. It has been seen that courier services payment has made by monthly basis.
5.1.2 Account Opening: Before discussion about account opening, first we have to know different types of
target customers of Jamuna Bank Ltd. ●Individual ●Partner ●Join stock ●Public Sector Trustee/clubs/ associates / and different types if institutions. Jamuna Bank Ltd. offer different types of account for their target groups. These are as follows ●Current account ●Saving account ●Monthly savings Scheme ●Fixed Term Deposit account (FDR) ● Short term deposit (STD) Following are broadly explaining all this type of account: ►Current Account (CD): Current account is that type’s account where depositor can withdraw his deposited money at any time there is no restriction. Current account can be divided into four types, such as:●Individual current account ●Proprietary current account ●Current partnership account ●Current account for limited companies. In the below given the requirements which are need for opening current account: For individual current account: ●Two copies passport size photo ●An introducer, who have an account in JBL, Dilkusha Branch. ●Ward commissioner or chairman certificate or national ID card. ●Mention sources of earnings. For proprietor current account: ●Trade license ●TIN number ●An introducer, who have an account in JBL, Dilkusha branch ●Seal of the applicant required ●Ward commissioner or chairman certificate or National ID card.
For current partnership account: ●Partnership agreement ●Trade license ●An introducer, who have an account in JBL, Dilkusha branch ●Ward commissioner or chairman certificate or national ID card. Current account for limited companies: ●Memorandum and articles of association of the company ●Power of attorney ●Resolution of the board of directors. Following documents which is certified by the chairman of the company: ●List of directors ●Certificate of commencement of business ●Certificate if incorporation. ►Saving account (SB): Saving account is that account whose interest rate is higher than current account and saving account can be open by individual, joint name or club, association etc. Requirements for opening individual saving account: ●Two copies pass port size photo ●Passport number no (if any)/ National ID card. ●TIN number ( if any) ●An introducer, who have an account in JBL, Dilkusha branch ●Name of nominee ●Two signatures on the specimen signature card. Requirement for opening joint saving account: ●Two copies pass port size photo(both parties) ●The amount can be received by any person signature or two persons signature jointly ●An introducer who maintaining an account in the JBL, Dilkusha branch ●Ward commissioner or chairman certificate ●Three copies others laws/ rules and regulation duly certified by the chairman.
Rules for opening saving account: Account opening money at least 500 taka. ●If deposit holder wants to close his/her account then he should pay 100 taka as cancellation charge. ●Savings account interest rate is 7.50% (for urban and rural) ●In case of saving account cheque book is 10 leaves. ►Monthly Savings Scheme (MSS) Savings is the best friend in bad days. Small savings can build up a prosperous future. Savings can meet up any emergences. JBL has introduced Monthly Savings Scheme (MSS) that allows saving on a monthly basis and getting a handsome return upon maturity. If anyone wants to build up a significant savings to carry out you’re cherished Dream, JBL MSS is the right solution. ►Fixed Term Deposit account (FDR) Fixed term deposit (FDR) application form has been used both for application form and as a credit voucher for the bank. In case of FDR specimen signature card used and client give three signatures on the specimen card. In the case of FDR it is clearly mention that when this amount will be withdrew account holder receive principle amount plus interest. FDR account holder gets a FDR slip that is provided by the JBL officer. FDR slip contains name of account holder, deposited amount, And interest, and time of maturity. If depositor withdrew his money before maturity date he does not get any interest. If account holder lost FDR slip then indemnity bond is required to issue a duplicate FDR slip. FDR account can be open by individually or joint name, In the case of FDR holder death, his nominee will get the amount.
►Short Term Deposit (STD) Short term deposit account interest is calculated at daises and its interest rate is 7.00 %. Documents required for opening short term deposit: ●Two copies of pass port size photo. ●TIN number ●An introducer who has an account in JBL, Dilkusha branch. ●Trade license. ●Ward commissioner or chairman certificate.
Every day, authorized officer check out which (MSS,FDR, STD) account interest has to pay. He credit voucher for interest excise duty. On every (MSS, FDR, STD) account holder has to paid 105 govt. tax, another interest. Here authorized officer issued one debit voucher and one credit voucher ►Issuing Cheque Book There are three types of cheque book in JBL those are: ●Ten leaves cheque book used only for savings account. ●Twenty five leaves cheque book is used foe current account. ●Fifty leaves cheque book use for current account but this is provided those depositors who are loyal customer or those transactions have done randomly. Cheque book issue to a new account holder: New account holder has to fill up an application form which is provided by JBL. After verifying depositor signature the authorized officer put branch seal and put his/ her signature than date, name of the account5 holder, account number, cheque number and recorded in to register book When all this function is successfully completed the client gets his cheque book and put his signature on the register book. Cheque book issue to an existing account holder: When an existing deposit holder wants to withdraw anew cheque book then should be give a requisition slip to the bank which he get from previous cheque book then authorized officer verifying deposit holder signature. After verifying signature authorized officer put branch seal and put his/ her signature than date, name of the account5 holder, account number, cheque number and recorded in to register book then client gets his cheque book and put his signature on the register book. In the case of lost cheque book: It has been observed that when a cheque book has been lost by account holder, then account holder must have filled an indemnity bond which has been authorized by introducer. In spite of these account Jamuna Bank Limited has others schemes for its customers. These schemes are below:
►Lakhpati Deposit Scheme To become a lakhpati is a dream to most of the people of Bangladesh especially to the lower and lower middle class income group. They experience their expectations and wants are enormous in nature in our small span of life. To meet our deposit and wants we need right plan. Keeping the above in mind JBL has introduced "Lakhopati Scheme" which has flexibility report of maturity and monthly installment as per affordable capacity. ►Monthly Benefit Scheme (MBS) Jamuna Bank Limited has introduced Monthly Benefit Scheme (MBS) for the prudent persons having ready cash and desiring to have fixed income on monthly basis out of it without taking risk of loss and without enchasing the principal amount. This scheme offers highest return with zero risk. Everyone can plan your monthly expenditure with the certain monthly income under the scheme.
►Education Savings Scheme Education is a basic need of every citizen. Every parents want to impart proper education to their children. Education is the pre-requisite for socio-economic development of the country. As yet, there is no arrangement of free education to the citizens from the government level. As such, there should
be
pre-arrangement of fund to ensure higher educations the children.
Otherwise higher education may be hindered due to change of economic condition, income of the parents at the future time when higher education shall be required. Today's higher education is becoming expired day by day. Parents can get relief and can have peace of mind if they can arrange the necessary fund for higher education of their children. As such, JBI, has introduced 'Education Savings Scheme' which offers you an opportunity to build up your cherished fund' by monthly deposit of small amount it at your affordable capacity or initial lump sum deposit to yield handsome amount on a future date to meet the educational expenses. Under this Scheme you have the different attractive options to avail the future benefit i.e. withdrawal of the total amount accumulated in lump sum or withdrawing monthly benefit to meet educational expense keeping die principal amount intact or to withdraw both principal and accumulated profit monthly for a certain period. ►Marriage Deposit Scheme Marriage of children, especially daughter is a matter of great concern to the parents. Marriage of children involves expense of considerable amount. Prudent parents make effort for gradual
building of fund as per their capacity to meet the matrimonial expense
of
their children
specially daughters. Parents get relief and can have peace of mind if they can arrange the necessary fund for marriage of their children, no matter whether they survive or not till the marriage occasion. It can be a great help to the parents if there is any scope of deposit of a modest mount as per their financial capacity, which groves very fast at high rate of interest yielding a sizeable amount on maturity. With this end in view JBL has introduced Marriage Deposit Scheme, which offers you an opportunity to build - up your cherished - fund by monthly deposit of serial, amount at your affordable capacity. â–şDouble/Triple Growth Deposit Scheme For people who have cash flow at this moment and want to get it doubled/tripled quickly JBL has introduced Double/Triple Growth Deposit Scheme that offers to make double/triple money within 6(six) years and 9.5 (nine and a half) years respectively resulting a high rate of interest. 5.1.3 Cash Department
Payment through cash: Clients give their cheque with their signatures are justified with specimen signature cards. If the signature is correct, then A/C number is posted into the computer and required balance in their account. Payment through transfer: This transfer is made through account to account, not in cash. Cash department is the important department of any bank. All the monetary transaction in occurred in this department. The main work of the cash department is the opening of cash. The beginning balance is registered while receiving & paying different amount of cash. (Cash received and cash payment)
5.1.4 Remittance
Remittance is one of the main components of banking. The main activities of remittance section are: ●Telegraphic Transfer (TT) ●Demand Draft (DD) ●Payment of Pay order ●Pay slip 5.1.4.1 Local Remittance The offers various kinds of remittance allover the country through it branch network. Telegraphic transfer, traveler’s cheque and draft and cheque can do remittance. There are two types of remittance as are: Inward remittance: When one bank sends these T.T., MT, T.C, or cheque to another bank within the country it will be called inward remittance. Outward remittance: When one bank got this T.T, M.T, T.C and cheque from any bank outside the country then it will be called outward remittance. 5.1.4.2 Foreign Remittance Jamuna Bank Ltd. has a network of 19 branches in Bangladesh and 4 more branches are going to be added to network soon. Remittance services are available at all branches and foreign remittances may be sent to any branch by the remitters favoring their beneficiaries. Remittances are credited to the account of beneficiaries instantly through Electronic Fund Transfer (EFT) mechanism or within shortest possible time. Jamuna Bank Ltd. has correspondent banking relationship with all major banks located in almost all the countries/cities. Expatriate Bangladeshis may send their hard earned foreign
currencies through those banks or may contact any renowned banks nearby ( where they reside/work) to send their money to their dear ones in Bangladesh. To facilitate sending money in Bangladeshi Taka directly, Jamuna Bank Ltd. has Taka Drawing Arrangement with many banks/exchange companies in different countries. The expatriate Bangladeshis may send their money in BDT through the branches/subsidiaries of Jamuna Bank Ltd. 5.1.5 Loans and Advances
Though there was an unfavorable business environment due to political turmoil throughout the year JBL was in constant efforts to explore different areas of credit operation and could raise the credit portfolios to Tk.12796.63 million in 2006 with an increase of Tk.1784.80 million (16.21%) over that of the preceding year. The total credit as on 31.12.05 was Tk.11011.83 million. In order to ensure compliance with regulatory requirements for avoiding risk of exposure to single borrower, concentration on large loans, to bring in excellence in credit operation in relation to risk management, yield, exposure, tenure, collaterals, security valuation etc. The main focus of Jamuna Bank Ltd. Credit Line/Program is financing business, trade and industrial activities through an effective delivery system. Jamuna Bank Ltd. offers credit to almost all sectors of commercial activities having productive purpose. Loan is provided to the rural people for agricultural production and other off-farm activities. ●Loan pricing system is customer friendly. ●Prime customers enjoy prime rate in lending and other services. ●Quick appreciation, appraisal, decision and disbursement are ensured. ●Credit facilities are extended as per guidelines of Bangladesh Bank (Central Bank of Bangladesh) and operational procedures of the Bank. Interest is calculated on daily product basis but charged and accounted for quarterly on accrual basis. Interest on classified loans is kept in interest suspense account as per Bangladesh Bank guidelines and such interest is not accounted for as income until realized from borrowers. Interests are not charged on bad / loss loans as per instructions of Bangladesh Bank. Advances are stated at gross value.
Here there is a table of Interest rate of provision on credit. Particulars General Provision on unclassified loan and
Rate 1%
advances Provision on Housing Finance, Loans for
2%
professionals and Small Enterprise Provision on other consumer financing
5%
Provision on short term Agri. Credit & Micro
5%
Credit other than Bad Loss Provision on Special Mention Account Loan
5%
and Advance Provision on substandard loan and advance
20%
Provision on doubtful loans and advances
50%
Provision on bad / loss loans and advances
100%
Table: Interest rate of provision on credit 5.1.5.1 Sanctioning Loans and Advance To have a clear idea about the credit management of JBL the following points are essential. a.
Credit policy of the Bank
b.
Credit Sanctioning Authority of JBL and
c.
Processing and Screening of credit proposal
5.1.5.2 Consideration factors for loan: When JBL bank gives loan that time they should consider some factors, such as Safety: Safety is the most important for sanctioning loan. At the time of repayment borrower may be unable to pay the loan amount. For that reason when bank sanctioning loan they
should take collateral security from the borrowers. Security: Banker should be are in the selections of security for their loan. They should properly evaluate the value of security it should not less then or equal of loan amount. Liquidity: When banker sanctioning any loan then they should ensure the liquidity position of JBL. Adequate yield: Banker should select those investment which interest rate is higher then savings interest rate. Diversity of risk: Bank should not invest one or two sectors. If it is happen then their investment risk is higher then market risk. In this case bank should maintain investment portfolio. So if one investment makes loss another can cover that loss. 5.1.6 Cheque Clearing
The scheduled banks clear the cheques drawn upon one another through the clearing house. This is an arrangement by the central bank where every day the representative of the member banks gather to clear the cheques. The place where they meet and settle their dues is called the clearing house. The clearing house sits for two times a working day. The members submit the claimable cheques in the representative desks of the banks and vice –versa. Consequently the debit and credit entries are given. At the end debit summation and the credit summation are calculated. Then the banks clear the balances through the cheque of the Bangladesh bank. The dishonored cheques are sorted and returned with the memo. The main function of this section is to collect instrument on behalf of the customer through Bangladesh bank through clearing house. Outward bill Collection (OBC)
& Inward bill for collection (IBC)
Upon the receipts of the instruments this section examines the following things: ●Whether the paying bank is within the Dhaka city ●Whether the paying bank is out side of Dhaka city
●And whether the paying bank is their own branch.
▬ Outward bills for collection (OBC): Collection of bills, which are beyond the clearing range and collected through OBC mechanism. ▬ Inward bills for collection (IBC): Collection of bills which Jamuna bank does as an agent is called collection through IBC mechanism. ►Dishonored cheque: The cheque is dishonored Jamuna Bank sends a memorandum to the customer stating the reason in the following way: ●Insufficient Fund ●Not arrange for ●Effects not clear may be presented again ●Exceeds arrangements ●Full cover not received ●Payment stopped by drawer ●………………………………………payees endorsement irregular/illegible/required ●……………………………………… payees endorsement irregular, required bank’s confirmation ●Drawer’s signature differs/required ●Alteration in date/figure/words/required drawer’s full signature ●Cheque is post dated/ out of date/ mutilated.
●Amount in word and figures differs. ●Crossed cheque must be presented through a bank. ●Clearing stamp require/requires cancellation ●Addition to bank discharge should be authenticated ●Cheque crossed “Account payee only” ●Collecting bank’s discharge irregular/required.
►Rules for passing cheque: In order to enable the branches to facilitated their day to day transaction smoothly/ efficiently/ accurately, the following schedules of power for passing of cheque/ instrument signature of vouchers shall come into force with immediate affect. An authorized officer shall pass cheque for less than taka 10000 singly after proper supervision in computer print out. Cheque for taka 10000 and above but below taka 50000 shall be passed jointly by any two authorized officer after proper supervision in computer print out by any officer. He will however also ensure that no factitious credit in the account as being posted on the day referring credit vouchers of the day. Cheque for taka 50000 and above shall be passed under joint signature of two officers one of whom must be manager of the branch. The procedures regarding supervision of cheque as at (2) above must however be followed. All suspense A/C (debit) vouchers sundry deposit vouchers, credit A/C debit voucher, expenditures A/C vouchers must be signed by the incumbent in charge of the branch with any other authorized officer. As at the close of business of the day or transactions (both debit and credit) shall be checked by referring to computer print out and relative cheque vouchers. Apart from the above it will also be ensured that the total amount of debit and credit totaling
to current A/C, savings, STD, and term deposit corresponds with the total of cash receipt/ payments, transfer clearing (both outward and inward). Clearing department also maintain the following work●Give posting of voucher in computer ●Prepare supplementary ●Prepare advice
5.1.7 Accounts department Account division is the most important for all banks. In accounts division maintain all types of accounting procedures of Dilkusha branch and support the branch to take different types of initiatives by providing various data and information. ●Prepare daily statement of affairs ●Maintain transfer book ●Prepare daily, weekly, monthly and quarterly, half yearly and annual statement ●Reconciliation of CIBTA ●All administrative works. 5.1.8 Import & Export handling and Financing 5.1.8.1 Import Financing Is the most important method of import -financing International trade take place between sellers and buyers located in different countries. The parties to a trade transaction are not always known to each other. Even if they are known to each other the seller may not have full confidence in the carried worthiness of the buyer or the buyer may not like to pay before he actually receives the goods. In letter of credit the bankers’ credit worthiness is substituted for the credit worthiness of the importer. Under a bank- cards letter of credit, the issuing bank gives a written undertaking on behalf of the buyer that the bank will honor the obligation of payment or expectance as the case may be on presentation of stipulated documents. As the request of the importers bank issue the letter of credit at a merging by the govt. instruction. Bail: does not generally issue the letter of credit less then 50% margin. JBL follow the margin prescribed by the government strictly. The total import business handled by the Bank in 2006 was Tk.15457.80 million compared to Tk.12151.90 million in the preceding
year registering a rise of Tk.4305.80 million being 27.20 percent. A sizeable L/C's were also opened by the Bank in the year under review. The import items included industrial raw materials, machinery, consumer goods, fabrics, accessories etc.
5.1.8.2 Export Financing The Exporter needs finances at various stages, some at pre-shipment stage and the other at the post shipment stage. The Bank handled export business worth TO 1583.70 million in the year under report. In 2005 total export business handled by the Bank was Tk.6521.80 million. Thus there was an increase of Tk.5061.90 million in export business handled by the Bank, being 77.62 percent over the preceding year. The major export item was ready made Garments.
Chapter Five 6.1 Internship Position and daily works
When all of our branches cheques come from the house (Bangladesh bank), gave entries all the cheques (CD, Loan, STD, SOD, DD, PO) in the register book with the name of bank, account number, types of account, and amount of money. When the authorized officer of cash confirm the return cheques. marked up all the return cheque number, name of the bank and amount of the money. After that attach the return memorandum with the return cheque and send those cheques for second house. Then after 3 p.m. attach all the receiving cheque with the printed memorandum. When all the branches come with their cheques; accumulate all cheques and made them prepare for the first house of next day morning. 6.2 Financial Performance of JBL The performance of JBL is evaluated on the basis of financial Statement Analysis. 6.3 Financial Highlights Serial no.
Item
Amount in taka (except ratio) 2007 2006 1,225,714,200 1,072,500,000 1,872,719,991 1,701,825,130 364,612,891 666,269,650 26,405,404,056 20,157,016,559
1 2. 3. 4.
Paid up Capital Total Capital Capital surplus/(deficit) Total Assets ( excluding off
5. 6. 7.
balance sheet items) Total Deposits 20,924,021,090 Total Loans & Advances 16,617,450,517 Total Contingent Liabilities 6,409,260,234
17,284,811,793 12,796,630,479 6,574,379,439
8. 9.
& Commitments Advance Deposit Ratio % of classified loans
79.42% 5.06%
74.03% 5.03%
10 11.
against Total Loans Profit after taxation Amount of classified loans
89,110,861 840,339,000
253,400,897 643,365,000
12.
Provision
kept
against 518,852,491
13.
Classified loan Provision surplus / deficit
14.
Cost of Fund ( Deposit cost 12.26%
12.18%
15. 16. 17. 18.
& overhead cost) Interest Earning Assets Non-interest earning Assets Return on Assets (ROA) Return on Investment
24,004,627,748 2,400,776,308 0.34% 8.80%
18,346,059,035 1,810,957,524 1.26% 10.02%
19. 20. 21.
(ROI) Income from Investment Earning per Share (Taka) Net Income per Share
474,482,522 7.27 8.04
255,662,108 23.63 31.94
-
181,466,000 -
( Taka) 22.
Price
Earning 53.61
23.
Ratio( Times) Net Asset Value ( Taka)
135.14
12.26 145.68
6.4 PROFIT In 2006 Jamuna Bank Limited posted an operating profit of Tk.701.32 million as against Tk.419.94 million in 2005 with a spectacular growth of 67.00 percent over the preceding year. After having made necessary provisions for loans and advances in accordance with the instructions of Bangladesh Bank Net Income before Tax (NIBT) stood at Tk.499.97 million in the year under review against Tk.363.31 million in the preceding year registering a growth of 37.62 percent. An amount of Tk. 246.57 million has been kept as provision for payment of Tax. Thus Net Income after tax and provision stood at Tk.253.40 million in 2006 which was Tk.199.82 million in 2005.
6.5. CAPITAL STRUCTURE Jamuna Bank Limited has a conviction of maintaining a strong capital base in carrying on operate operation on June 03,2001 with a paid-up capital of Tk.390.00 million divided into
3.90 million o of Tk.100 each. The authorized capital of the Bank is Tk.1600 million divided into 16.00 million of Tk.100 each. The Bank's paid-up capital as at 31st December 2006 stood at Tk.1072.50 million. Tk was raised through initial public issue of 4.29 million ordinary shares of TkA 00 each with a premium- each while Tk.214.50 million was raised by issue of Bonus Shares in the ratio of 1:4, i.e. one bonus _s-holding of 8.58 million ordinary shares as on 31.12.2005, for every 4 shares out of profits upto the Thus, as on 31st December 2006, the total shareholder's equity and reserve stood at Tk.1701.82 million 6.6
CREDIT ADMINISTRATION FLOWCHART
Functions of Credit Administration Division
Disbursement
Custodian
Monitoring
Approval from CRM
Obtaining Security Documentation as per approval
Conditions & Covenant Breach Monitoring
Safely Storing Loans/Security Documents (fire proof)
Monitoring of Past Due, Limit, Expiry & Documents Deficiency
Completion of
Security
Documentation
Ensure adherence to approve terms & other
requirements
Periodic review of documentation*
Audit, Internal/BB
Inspection
Compliance
before disbursement.
Compliance
Returns to BB, CIB Reporting, default list circulation
Maintain BB Circulars & ensure compliance by all Depts.
Ensure all valuers, lawyers, insurers are approved, enlisted & their performance are reviewed
periodically
Limit Creation & Complying Disbursement Check List
Disbursement
Ensure Collateral is Insured & Properly Valued.
CHAPTER SIX Findings & Analysis Findings During internship period in Jamuna Bank Limited at Dilkusha Branch following problems are identified. ●Human resource of any organization is considered as a valuable asset. But human resources, in the branch, are not equipped with adequate banking knowledge. Majority of the human resources have lack of basic knowledge regarding money, banking finance and accounting. Without proper knowledge in these subjects, efficiency cannot be optimized. ●There is shortage of computer in general banking section. Sometimes the shortage of computer makes some unfortunate event in that section. ●Though JBL using very popular software i.e. Flora bank on--line software but the use of it is quite difficult for the employees. (According to the statement of some employee
of
JBL who
has the experience to use more then one banking software). ●JBL are not taking their clearing cheque for other-
They are using IBC/OBC systems to
take that kind of clearing cheque. ●JBL not providing the credit cards in market which now a days one of the most important part of banking. So for it they are loosing too many customers. ●I have found that most of the employees are not satisfied with their salary, most of them think that they are not getting proper salary comparing with other banks. ●The capital of Jamuna Bank is not enough to serve properly. Even not to provide loan for consumer. ●Customers are not fully satisfied with the service of Jamuna bank. Since a number of new banks are coming to existence with their extended customer service pattern in a completely competitive manner. ●In our country financial problem is a great constraint in foreign trade. JBL Is very conservative for post-shipment finance.
●Now a day's on-line banking is a very common service for private commercial bank. JBL, provide On-line banking service but they take source charge for it, if the customers do not use his/her mother branch. CHAPTER SEVEN Recommendations & Conclusion 8.1 Recommendations
●JBL authority should train up their HR personnel, so that they can get a clear idea about banking knowledge ●There should be adequate number of computer to serve the general service to the customers. ●Employees should be more expert & trained to use the Flora software. ●JBL’s clearing should be properly online. ●Credit card should be available for the general customers of JBL. ●Salary structure should be revised for the satisfaction of the employees comparing with the other commercial private banks. ●Capital structure should be stronger to serve properly. ●Customer-services must be made dynamic and prompt. Now a days, people especially business people have very little time to waste. So the bank should make its service prompt so that people need not give more time in the banking activities ●Foreign exchange operations of other banks are more dynamic and less time consuming. JBL should take some initiative to compete with those banks. ●To encourage customers to use On-line banking facility this service charge should not be taken charge from the customers. ●Customer service of bank has a greater impact on its customer. To provide smarter customer service they need a call center department is very popular now a day.
●Jamuna bank can introduce some new schemes for their consumers like: student saving account, Hajj scheme, etc. ●JBL should have to improve their financial condition so that they can provide consumer loan, such as: can loan, house loan, education loan etc. 8.2 Conclusion A modern commercial banking perspective is extending business. The rewards are modest; the penalties for bad looking are enormous. And commercial banks are great monetary institutions, which can play a significant role in welfare of society and country more than any other institutions. JBL has gained firmed confidence in the minds of customers within a short period of its operation. Analyzing the whole scenario which are tried to highlight in this report, we can conclude that, the performance of Jamuna Bank Ltd. is quite satisfactory but there is stillroom for improvement. Understanding this present competitive market pressure the Bank Management should start some special new services to survive in this competitive market. JBL is a new generation bank. It is committed to provide high quality financial services to contribute to the growth of G.D.P. of the country through stimulation trade & commerce, Accelerating the pace of industrialization, boosting up export, creating employment opportunity for the educated youth, poverty alleviation, raising standard of living of limited income group and overall sustainable socio-economic development of the country. JBL authority should introduce some new schemes for their customers so that more customers can get their services. And they also should take care of customer services because banks main capital is their services they are selling their services basically. So a little improvement in their management can help the bank to reach in the list of successful banks. Appendix At last we want to extend our honorable, learned and devoted course teacher Dr. Ataur Rahman, Professor who had facilitated us by providing a lot of information and advises. We also want to give thanks Head of Human Recourse Development (HRD) of Jamuna Bank Limited Mr. Tobarak Hossain who head given many documents and information to prepare the report successfully. We also get help from our seminar, by taking lend a lot of books, such as “Bank Management” (Theory and Application) by R.M. Debnath, other book which is written by Rajendra Pal. We also Followed the book
“Excellency in Financial Management” by Khan & Jain. “Practical Banking” by M. Radha Swamy, “Modern Banking” by R. S. Sayers and “Money and Banking” by John M. Culburtson.
BIBILIOGRAPHY
Book ▬ David, A.,Decenzo. & Stephen,p.Robbins (2004-2005), “Human Resource Management” (7th edition), New York, Jhon Wiley & Sons, Inc. ▬ Garrison, R.H. & Noreen, E.W., “Managerial Accounting” (10 th Edition), New York: McGraw-Hill ▬ Khan, M.Y., & Yain, P.K., “Financial Management” (5th Edition), Tata: McGraw-Hill ▬ Weygandt, Y.Y.Eieso,D.E. & Kimmel, P.D., “Accounting Principal” (5 th Edition), Wiley. Annual Report 1. Annual Repot 2005-2006 Jamuna Bank Ltd. 2. Annual Report 2006-2007. Jamuna Bank Ltd. 3. Prospectus of Jamuna Bank Limited. 4. Report, General Activities of Exim Bank Ltd. 5. Report, General Activities of Standard Bank Ltd Internet ▬Official website Jamuna Bank Limited: www.jamunabankbd.com ▬Official website Bangladesh Bank: www.bangladesh-bank1.org