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geographically diversified assets base instead of a concentration and heavy reliance on business in the major commercial centers of Karachi and Lahore, where most other banks have their operational head offices. 1.1. Askari Bank Today: Askari bank limited will continue to innovate, competitive and distinctive new products, services and systems to meet the needs of a growing customer base and strive to achieve a level which is a benchmark for excellence in premiere banking. Chairman:
Lt. Gen. Nadeem Taj
President & CEO: Mr. M.R. Mehkari Branches: 235 Entity Rating: Askari Bank has the following Entity Ratings from the Pakistan Credit Rating Agency Limited (PACRA): Short Term Long Term A1+ AA
I. First Pakistani Bank to offer on-line real time banking on a countrywide basis. II. First Bank with a nation-wide ATM network III. First Bank to offer Internet Banking services IV. First Bank to offer E-Commerce solutions
Vision:
To be the Bank of First Choice in the Region.
Mission Statement:
Askari Bank Limited defines it mission as, To be the leading private sector bank in Pakistan with an international presence, delivering quality service through innovative technology and effective human resource management in a modern and progressive organizational culture of meritocracy, maintaining high ethical and professional standards, while providing enhanced value to all our stake-holders, and contributing to society.
The total strength of staff in AKBL Baghban pura is 17. They are dedicated to their work. The branch is progressing rapidly, under the dynamic leadership of Vice President Mr. Muhammad Aslam Bhatti and Operational Manager Mr.Zulfiqar Haider. Now, AKBL Baghban pura branch has the importance of backbone for Askari Bank. It has high volume of deposits and has led to huge profits. So, I have been much lucky that I got an opportunity for working in this branch for six weeks, and confronted with enough exposure and opportunities to learn.
Revenue:
Table no. 1 Particulars Fee, Commission and Brokerage income Dividend Income Income from dealing in foreign currencies Gain on sale of Securities Interest income other income Total Revenues 2010 2009 2008 2007 2006 Rs in ,000 Rs in, 000 Rs in, 000 Rs in, 000 Rs in, 000 1271467 209992 13011 212527 10015546 471707 12194250 1382346 162537 528159 143717 9048020 409191 11673970 1144894 145602 22345 117780 8254637 345678 10030936 1072868 137079 1728 655761 6457617 336809 8661862 1013660 71782 112474 109326 5619608 230877 7157727
Source: Askari Bank Limited Annual Report 2010. Comments: Revenues increased in throughout the period from 2006 to 2010. They were 11673970 Rs. in 2009 and 12194250 Rs. in 2010 i.e. 4.26% increase in 2010 as compared to 2009.
Table no. 2 Description Total Assets Deposits Advances Investment Profit Earnings per share * In per Rupee * 2010 in billions 315 256 168 52 4.34 1.79 2009 in billions 254 206 148 44 4.55 1.48 2008 in billions 224 188 110 35 3.88 0.95 2007 in billions 182 131 100 39 2.68 8.92 2006 in billions 166 99 28 1.25 1.12 7.48
Total Assets:
Source: Askari Bank Limited Annual Report 2010. Analysis: The total assets are 315 billion in 2010 that is an increase of 24% over Rs.254 billion. Total assets have increased from 2006 to 2010. That is a healthy sign.
Deposit:
Source: Askari Bank Limited Annual Report 2010. Analysis: Customer deposits reached Rs. 256 billion from 206 billion at end 2009, an increase of 24.3%. During the year fixed term deposits, which include recently launched new products of the bank, remained a preferred choice showing an increase of 40.4%. Another reason for the increase in fixed deposits was the addition of deposit base of (ALL) which stands amalgamated with the bank on March 2, 2010.
Advances:
Analysis: By end 2010, gross advances increased to Rs. 168 billion from Rs. 148 Billion, an increase of 14.1%, or 8.1% on a comparable basis, i.e. excluding the addition of advances of erstwhile ALL. The bank continued to exercise effective credit risk management and remained watchful of the impact of advances growth on its capital adequacy ratio.
Investment:
Source: Askari Bank Limited Annual Report 2010 Analysis: In 2010 investment increased from 44 billion to 52 billion. This is an increase of 1.18%. Investments have increasing trend throughout the period from 2006 to 2010.
Profits:
Source: Askari Bank Limited Annual Report 2010. Analysis: The operating profit (i.e. profit before provisions and taxation) of the bank stood at Rs. 4.34 billion; slightly below last year. The above figures indicate that the proposition of profit has seen increase over the years. So it is a healthy sign for bank.
Source: Askari Bank Limited Annual Report 2010. Analysis: EPS decreased from Rs. 1.79 per share of last year to Rs. 1.48 per share for the year 2010. The decrease is mainly due to less than expected increase in net increase in net interest income and increase in operating expense.
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Source:
Askari bank official website, www.askaribank.com.pk/Corporate information
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1.3.3. Head Office: AWT Plaza, The Mall, P.O.Box 1084, Rawalpindi. Tel: (051) 9063000 Fax: (051) 9272455 1.3.4. Branches: Domestic Branches 235 1.3.5. Regional Network: Region North Central South Cities Islamabad, Rawalpindi, Peshawar Lahore, Sahiwal, Faisalabad, Multan Karachi, Hyderabad, Quetta
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1.4. Employees
Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Name Mr. M. Aslam Bhatti Mr. Zulfiqar Haider Mr. Ajmal Hussain Mr. Amjad Iqbal Mr. Salman Murtaza Mr. Ahmad Jamal Mr. Syed Sajid Raza Mr. Muhammad Ahmad Ms. Yasmin Tahira Ms. Nimra Munawar Ms. Rashida Ghouri Ms. Mussarat Muhammad Ali Mr. Imran Siddique Mr. Mushtaq Mr. Khalid Mughal Mr. Rana Zaheer Mr. Atif Bhatti
Designation Branch Manager Manager Operations Incharge General Banking Incharge Credits Incharge Accounts Incharge Foreign Trade Incharge Check book s issuance Customer Services Officer Incharge Account Opening Clearing Officer Incharge CD Chief Cashier IT Officer Cashier BDO Agri Credit Officer Agri Credit Officer
1.4.1. Directors:
Name 1. Lt. Nadeem Taj 2. Mr. M. R. Mehkari 3. Maj. Gen ( R ) Imtiaz Hussain 4. Brig ( R ) Asmat Ulaah Khan Niazi 5. Brig.Muhammad Bashir Khan 6. Brig.Shaukat Mehmood Chudhry 1.4.2. Company Secretary: 1.4.3. Audit Committee: Mr. Bashir Ahmad Khan Chairman Designation Chairman President & Chief Executive Director Director Director Director Mr. M.A. Ghazali Marghoob, FCA
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1.4.4. Auditors: KPMG Taseer Hadi & Co. 1.4.5. Legal Advisor: Rizvi, Isa, Afridi & Angel Chartered Accountant
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ABCs are long term fixed deposit for 3 and 5 years. These are not term deposits because payment of return is on monthly basis rather than on maturity of deposits. The minimum balance requirement is Rs. 25000/- and maximum balance requirement is Rs. 1.0 Million. If ABC is for 3-years, the rate of return for 3-years is 7.0 % if ABCs is for 5-years the rate of return is 8.0 %. Because in such account the balance is kept for either '3' or '5'years within the Bank no cheque is drawn on it. Thats why it is not a checking account. Return is made monthly. Term Deposit: A term deposit is a deposit that is made for a certain periods of time at the end of the specific period. The customer is allowed to with draw the principle amount .AKBLs Term deposits are of types clear in the deposit scheme in the table). One of them is "Askari" Advantage one month. The rate of return on this account is 4.0 %. The term deposit account varies one month to 5 years and the min balance requirement is Rs.5000.
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Askari Touch 'N' Pay (on-line utility bill payment services). Rupee Traveler Cheques. The detail of few of these products is given as under: Personal Finance:
One can avail unlimited opportunities through Askari Bank's Personal Finance. With unmatched finance features in terms of loan amount, payback period and most affordable monthly installments, Askari Banks Personal Finance makes sure that one gets the most out of his/her loan. Once a good credit history is established, the door to opportunity opens much wider. Mortgage Finance:
Askri "Mortgage Finance" offers the convenience of owning a house of choice, while living in it at its rental value. The installment plan has carefully designed to suit both the budget & accommodation requirements. It has been designed for enhancing financing facility initially for employees of corporate companies for purchase/ construction/ renovation of house. The maximum financing amount is Rs. 10 million with repayment tenure up to 20 years. Auto Financing: Yet another of askari bank limiteds products, Askar offers the most convenient and affordable vehicle- financing scheme, which provides valuable customers an opportunity to own a brand new vehicle of their choice. With minimum down payment, lowest insurance rates and widest range of available car makes and models, Ask car offers the best value to our esteemed customers. Askari Bank Limited offers you the most convenient and affordable vehicle financing scheme "Askar" to help you own your favorite brand new car. Askers "No eligibility" clause automatically qualifies you to own a new car of your choice. Business Finance:
In pursuance of the National objectives to revive the economy of the country, AKBL is providing loans to small and medium size business enterprises under Askari Bank's Business Finance Scheme. Our goal is to offer a loan, which enables business community to receive the financing required by them based on their cash flows. Our valued customers can enjoy the convenience of getting financing on attractive terms with the minimum processing turnaround time.
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Ask Card:
ASKCARD means freedom, comfort, convenience and security, so that you can have retail transactions with complete peace of mind. ASKCARD is your new shopping companion which enhances your quality of life by letting you do shopping, dine at restaurants, pay your utility bills, transfer funds, withdraw and deposit cash through ATM anywhere, anytime. Travelers Cheques: The range of our products and value added services enhances with introduction of Rupee Travelers Cheques (RTCs) launched in March 2002. In spite of our constraint on issuing higher denomination of RTCs against restrictions imposed by the Central Bank of Pakistan we have been striving to attain our shares with sizeable portfolio. Value plus Deposits: The first liability product launched by this unit is showing a remarkable acceptability in the market. The growth of this product is witnessed by its share, which has presently reached at Rs. 1,079 Million even after lowering down the profit rates due to sufficient liquidity in the market.
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1.5.4. Agriculture Products: In its fourth year of launching the Bank's Agriculture Credit Finance programmed continued to receive an overwhelming response from the farming community. The positive outlook was the reflection of credit quality, expertise, and impressive performance in outreach and lending volumes. The customer base increased by 70% and overall portfolio size by 50% as compared to last year. Products: Askari Kissan Evergreen Finance. Askari Kissan Tractor Finance. Askari Kissan Transport Finance. Askari Kissan Livestock Development Finance. Askari Kissan Farm Mechanization Finance. Askari Kissan Aabpashi Finance. Green House & Tunnel Finance. Farm Storage Finance. Model Dairy Finance. Gold Fish Finance. White Pearl Finance. Murghban Finance. Samar Bahisht Finance. Gulban Finance. Asaan Mali Sahulat. Zarai Credit Card.
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The detail of few products is given as follow: Kissan Ever Green Finance:
Askari Bank has launched this program with the sole motive to provide dignity, prosperity and freedom to the tiller of the land. The program is designed to help small, medium and large farmers in meeting their short-term input requirements against one time sanction and automatically renewable up to 3 years subject to its stipulated utilization/periodical adjustment. The credit line is sanctioned in the light of available cash flows and input requirements i.e. Seeds, Fertilizer & Pesticides etc. Kissan Aabpashi Finance: Agriculture farming is impossible without adequate water. We can combat the prevalent water scarcity by harnessing more natural resources. Increased use of mechanical means thus provides a ready alternative. Keeping in view the scarcity of water, which is the lifeblood of arable lands, Askari Bank has started a program for farmers, to finance installation of TubeWells (electric, diesel and solar energy units) water management equipments and water channel development etc., which will help farmers to make optimum use of limited water resources. Kissan Farm Mechanization Finance: Beside Power at the farm i.e. Tractor, the benefits / advantages of power are maximized with the use of Mechanical Support i.e. modern and improved equipments which essentially complement one another due to their cost effectiveness and time efficiency. Askari Bank has launched an Askari Kissan Farm Mechanization Finance for the assistance of the small farmers and provides finance for farm equipment, trailer, thresher, drills & rotavators etc. Kissan Live Stock Development Finance: In order to supplement the income of the farmer, Askari Bank has launched a program enabling the farmer to purchase Mulch Animals, Goats, Sheep, Poultry and Fisheries without incurring extra expenditure because of availability at his farm. He will be able to get milk, meat and eggs etc., which normally do not form part of his diet. This program has the added advantage that besides fulfilling his own familys consumption needs he will be able to market the surplus and earn additional income. This will further improve their cash flows to repay their other Loans / Revolving Credit on due date.
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Traditional modes of cultivation via Bullocks, Camels, horses etc can no longer keep pace with the demands of present times due to manifold increase in the population. Power in the form of modern technology is therefore the need of the hour. To meet this emergent requirement, Askari Bank has launched an Askari Kissan Tractor Finance to bring power to the fields. Kissan Farm Transport Finance: A grave handicap that afflicts our farmers is their inability, due to lack of proper facilities, to take their produce to the market through efficient means of transportation. This adversely affects the freshness, quality of the product and denies them the desirable Price-Fetching opportunity. Conversely, they lack mobility to acquire much needed inputs essential for their farming needs. One can safely conclude that if provided with appropriate and speedy transport, the farmer can benefit by enhancing his selling ability and thus increase his income / cash flow. It is pertinent to mention that a number of Banks, Leasing Companies and Private Agencies have geared their marketing efforts to concentrate on and have mainly captured the urban markets. There is no support provided to cater to the transport needs of deserving rural farmers community. Askari Bank true to its commitment has taken the lead to launch Askari Kissan Farm Transport Finance.
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2.
ORGANOGRAM of
BAGHBANPURA BRANCH LAHORE As On 31.12.2011
Branch Manager M. Aslam Bhatti VP
Receptionist/Greeter
In charge Credit Amjad Iqbal Asst Manager Officer Import/Export Ahmad Jamal OG-I
Chief Cashier Shafiq Amir Chishti Asst Chief Cashier Cash Officer Amil Nazir Chohan COG-I Cash Officer Mussarat Muhammad Ali COG_II
In charge Accounts Salman Murtaza OG II Officer Account opening Yasmin Tahira OG-II Remittance Officer Nimra Munawar OG-IIi
Unity of Command: Measures are taken to ensure unity of commend and this phenomenon generally prevails all over the bank. Generally there are no conflicts regarding unity of command in Baghban Pura Branch. However sometimes problems arise when a manager passes order or information directly down the line without intimating the concerned department in-charge.
Objective setting: Management by objective approach has been adopted to define and set the objective of each and every individual in the organization. Askari bank limited baghban pura is adopted the management by objective as a tool for performance management and appraisal. During the assigning objectives it is ensured that these objectives are in line with the organization policy and are not harming the specific interest of the organization.
Authority and responsibility: The Operations Manager is responsible for day to day branch activities. The Manager is responsible for business development and overall compliance of branch functions with the policy of the Bank.
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CBD is your long-term business partner that is geared to help you in meeting your business growth objectives. The business is managed by a team of professionals who understand your requirements and can firmly stand by your side. Dedicated relationship managers for each of our corporate clients ensure your satisfaction, which is our top priority. Our relationship oriented outlook focuses upon providing complete array of tailored financing solutions that are practical and cost effective, some of which include: