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PART ONE

Introduction
Vast number of factors are there that are dominant in the economy of a country
and are responsible for its manipulation. These factors include inflation, rates of interest,
purchasing and buying power of the people etc. These factors are governed and
controlled through different financial institutes and instruments. One of the most
important financial instruments is the bank. These banks play a cordial role in this
regard.

According to the Investopedia, banks are defined as:

“A bank is a financial institution licensed to receive deposits and


make loans. Banks may also provide financial services, such as wealth
management, currency exchange, and safe deposit boxes. There are two
types of banks: commercial/retail banks and investment banks. In most
countries, banks are regulated by the national government.”

In simple words, a bank is such a financial institute whose elementary role is


borrowing and lending of money to other parties. The very concept of banking is
very old that was first introduced in the different churches of the Britain and it has
since evolved from a place of simple safe keeping of people’s valuables to a very
complex system (including the introduction of debit and credit cards, online
transfers, mobile and internet banking etc.).
BANKING SECTOR IN PAKISTAN
The Pakistan banking industry constitutes a total of around 31 banks, of which five
are public-sector and four are foreign, while there are 22 local private banks. The majority
of the banking business is concentrated in a select few in the industry—six banks are the
largest competitors in the economy and hold a major stake of the banking assets in
Pakistan. To be more specific, these banks collectively make up more than 57 percent of
deposits and 53 percent of advance in the economy. They are:

 Habib Bank Limited (HBL),


 National Bank Limited (NBL),
 United Bank Limited (UBL),
 MCB Bank Limited,
 Allied Bank Limited (ABL) and
 Bank Alfalah Limited.

The industry is regulated by the State Bank of Pakistan (SBP), which governs local banks
under the ambit of its prudential regulations. Moreover, the banks also must comply with
the international Basel III standards. Overall, the potential in this sector is huge. The
number of bank accounts amounts to 43 million in a total population of 195 million. The
reasons behind this large difference can be credited to the limited access to technology
in the country, the aversion to banks due to religious reasons and the great size of the
unbanked rural population. With that being said, the potential for growth is huge—
primarily because of the introduction of high-speed, mobile Internet; the advent of Islamic
banking; and the increased awareness of the benefits of banking in the country
OVERVIEW OF THE ORGNIZATION

Soneri bank limited (SBL) is also such a bank that performs all the above-
mentioned functions. Though not very old since its inauguration, SBL has now
gained a specific place in the banking industry of Pakistan. It has gained quite a
dominance in the SME sector of Pakistan.

HISTORY
Incorporated in Pakistan on 28 September 1991 as a public listed company
under the Companies Ordinance, 1984. Soneri bank’s registered office is situated at
Rupali House 241-242, Upper Mall Scheme, Anand Road, Lahore, Punjab and its
shares are quoted on Pakistan Stock Exchange Limited (formerly Karachi stock
exchange limited). The Bank is engaged in banking services as described in the
Banking Companies Ordinance, 1962 and operates with 291 branches including 21
Islamic banking branches (as of 31st December 2018) in Pakistan.

Corporate Information
The business activity of the Soneri bank is defined as

‘’To carry on the business of the banking company as


defined by the Banking companies Ordinance,1962’’

The registration no of Soneri bank is L-04037,28 September1991 CUIN0025262.

Its NTN no is 0801438-8.

Present Status
Soneri does not believe in simply increasing number of branches. The increment
in branches is based on the policy that takes into the consideration of maintaining an
equality in rural and urban areas. The spirit of Soneri bank is to provide a safe and
secure environment for its customers and to provide entrepreneurs belonging to
different professions with easy financial conditions to help them prosper in their
businesses. Almost forty-five percent of the credit portfolio of Soneri bank is related to
the export financing and credit decisions are taken within 48 Hours of the request of the
customer, Recently, they got an upgrade of software to T-24 system which is the next
generation core banking software.

Yearly growth

1991 The Soneri Dawn :Soneri Bank was incorporated on 28th September, 1991.

1992 The First Step: Soneri Bank took its first step by establishing the first 5 branches

2000 Widening Horizons: Soneri Bank grew its footprint through its branch and ATM
network across major cities of the country

2004 Accelarating Growth: Soneri Bank launched Islamic Banking-Mustaqeem

2008 Surpassing Milestones: Soneri Bank introduced customised products and


services for the betterment and convenience of its customers.

2013 Roshan Har Qadam: Soneri Bank launched its new identity ‘Roshan Har Qadam’
with a promise to enlighten lives of its stakeholders and customers

2015 Embarking on the Digital Journey: Soneri Bank with the vision to enhance and
facilitate the customer experience launched its Mobile App

2016 Setting Benchmarks: Soneri Bank celebrated its 25 glorious years of banking.

2018 Charting the Course Today, Soneri Bank is accessible across the country with its
branch network of more than 290 branches and 300+ ATMs
Current Credit Rating

Rating Agency: PACRA

The Pakistan Credit Rating Agency (PACRA)

Ratings:

Long Term:

“AA-” (Double A minus)


Short Term:

“A1+” (A one plus)


TFC II:

“A+” (Single A plus)


Additional Tier – 1 TFC:
A (SINGLE A)

Interpretation

These ratings denote a very low expectation of credit risk emanating from a very strong
capacity for timely payment of financial commitment.

Comparison of credit Ratings with Other Banks


Bank Short term Long term Date of Rating remarks
rating agency

HBL A-1+ AAA June,2018 PACRA Negative

SBL A1+ AA- June,2018 PACRA Stable

ABL A1+ AAA June,2018 PACRA Stable

SILK A-2 A- June,2018 PACRA Positive

JS A1+ AA June,2018 PACRA Stable

MCB A1+ AAA June,2018 PACRA Stable

FAYSAL A1+ AA June,2018 PACRA Stable

Core Values
WE ARE CUSTOMER CENTRIC

 We build strong long-term relationships with our customers.

 We believe in exceeding our customers’ expectations.

 We believe in connecting with our customers through empathy and understanding.

WE HAVE HIGH MORAL STANDARDS

 We build a culture of trust.

 We are open, honest and fair in all our dealings.

 We base our work on trust and integrity.

WE TAKE OWNERSHIP

 We take responsibility and accountability for what we do.

 We stand up for what we believe is right.

 We accept the consequences of our decisions and actions that we take.

WE ARE PRO-ACTIVE

 We plan ahead.

 We make swift and timely decisions and value time as our asset.

 We strive to stay ahead by anticipating change and forecasting risk.

WE COLLABORATE
 We are one team with one vision.

 We encourage and support diversity across all channels.

 We value teams within and across business units

Mission

“We Provide Innovative and Efficient Financial Solutions to our Customers.”

Vision

“To better serve customers to help them and the society grow.”

Part two
BOARD OF DIRECTORS

Mr. Alauddin J. Feerasta


Chairman/Non-Executive Director

Mr. Mohammad Aftab Manzoor


President & Chief Executive Officer /
Director

Mr. Nooruddin Feerasta


Non-Executive Director

Mr. Amin A. Feerasta


Executive Director / Chief Operating Officer

Mr. Muhammad Rashid Zahir


Non-Executive Director

Mr. Manzoor Ahmed


Non-Executive Director (NIT Nominee)

Mr. Inam Elahi


Independent Directors
Mr. Jamil Hassan Hamdani

Management Team
No. Management Team Designation

01 Mr. Mohammad Aftab Manzoor President & Chief Executive Officer

02 Mr. Amin A. Feerasta Executive Director

03 Mr. Abdul Aleem Qureshi Head of Commercial and Retail Banking

04 Mr. Muhammad Qaisar Head of Corporate and Investment Banking

05 Mr. Masood Tyabji Head of Digital, Products and Islamic Banking

06 Mr. Shahid M. Abdullah Head of Treasury, Capital Markets, FI and PRI

07 Mr. Mirza Zafar Baig Chief Financial Officer

08 Mr. Tariq Yar Khan Chief Compliance Officer

09 Ms. Anita Lalani Head of HR, Legal and General Services

10 Mr. Ali Hassan Shah Head of Operations

11 Mr. Mubarik Ali Country Credit Head

12 Mr. Muhammad Salman Ali Chief Information Officer

13 Mr. Syed Asim Ali Head of Audit

Auditing company: Ferguson and CO (chartered accountants)


Legal Advisor: Manan Associates

Audit Committee:

Mr. Nooruddin Feerasta (Chairman)

Mr. S. Ali Zafar (Member)

Mr. Shahid Anwar (Member)

Mr. Abdul Hayee (Member & Secretary)

Registrar and Share Transfer Agent:

THK ASSOSIATES (PRIVATE) LTD

GROUND FLOOR

STATE LIFE BUILDING NO.3

Dr. ZIAUDDIN AHMAD ROAD

KARACHI-75530

Company Secretary: Mr. Abdul Hayee

Registered Office:

RUPALI HOUSE 241-242, UPPER MALL SCHEME

ANAND ROAD, LAHORE – 54000

CODE OF CONDUCT
The members of the Board of Directors of Soneri Bank Limited (hereinafter referred
to as “Bank”) acknowledge and accept the scope and extent of their duties as Directors.
They also recognize their responsibility to carry out their duties in an honest, diligent and
professional manner and within the scope of their authority as set forth in the Companies
Ordinance, 1984 (“the Ordinance”), Code of Corporate Governance – 2012 (“CCG”) as
well as in the Memorandum and Articles of Association of the Bank. The Directors are
entrusted with and are responsible for the oversight of the conduct and management of
business affairs of the Bank by the Management, in an honest, fair, diligent and ethical
manner. As Directors, they are required to act within the bounds of the authority conferred
upon them and with the duty to make and enact informed decisions and policies in the
best interest of the Bank. The Board of Directors has adopted the following Code of
Conduct (“Code”) and Directors are expected to adhere to the standards of care, loyalty,
good faith and the avoidance of conflicts of interest that follow.

Compliance with Laws, Rules and Regulations.

Directors are required to monitor the affairs of the Bank and seek assurance from
the management that these are being carried out prudently in line with the existing
laws, rules and regulations.

Formulation of Policies

Directors shall review and approve strategies and overall business policies for smooth
running of the Bank as put forward by the management. Policies shall also be made for
areas requiring policy making for inculcating best practices as per the judgment exercised
by the Board.

3. Ethical Conduct

Directors shall act on behalf of the Bank with professionalism, honesty and integrity as
well as high moral and ethical standards.

4. Fiduciary Obligations
Directors shall exercise their powers and carry out their fiduciary duties with a sense of
objective judgment and independence in the best interests of the Bank

5.Protecting Shareholders’ Interest

Directors shall act to protect the interests of shareholders through their oversight role on
the overall conduct of business and operations by the management and while doing so
Directors are expected to act independently.

6. Confidentiality

Directors shall respect the confidentiality of information relating to the affairs of the Bank
acquired in the course of their service as Directors. All such information that may be
classified or treated as confidential should not be shared, published, discussed or
disclosed by any Director, except when authorized or legally required to do otherwise.

7. Conflict of Interest

Directors shall disclose any personal interest that they may have regarding any matters
that may come before the Board and abstain from discussion, voting or otherwise
influencing a decision on any matter in which the concerned Director has or may have
any interest.

8. Insider Trading

Directors shall not deal directly or indirectly in the securities of the Bank whether on their
own account or their relative’s account, if they are in possession of any unpublished price
sensitive information concerning the Bank. Directors who are in possession of any
unpublished price sensitive information shall not communicate directly or indirectly the
said information to others who trade on such information

9.Protecting Bank’s Assets

Directors are expected to oversee the Management’s control on Bank’s physical assets.
In this respect the Directors are required to do policy making on ensuring that the assets
of the Bank are protected from being misused and that the Bank shall invest in Assets
that are required for the purpose of conducting the business.

10. False or Misleading Statements

Directors shall not make a statement or disseminate information, which is misleading or


false and is likely to induce sale or purchase of securities by any other person or is likely
to have any effect of the market price of the Bank’s shares.

11. Priority to Bank’s Interests

Directors shall be required to ensure that the Bank’s interests take priority over all other
interests

.12 Reputation of the Bank

Directors shall act in a manner that will enhance and maintain the reputation of the Bank.

13. Compliance

Culture Directors shall help create and maintain a culture of high ethical standards and
commitment to compliance of all applicable Laws, Rules and Regulations in the Bank.

FOR EMPLOYEES

1. No employees shall engage directly or indirectly, in any other business but shall faithfully and
diligently, perform the duties entrusted to him /her from time to time and devote maximum time
and attention to work of the Bank, and ensure his/her best endeavors to promote its interest and
welfare. Neither shall take up any activity which will bring him/her any reward or remuneration
or benefit, directly or indirectly other than from the job at the Bank.

2. No employee or his/her immediate family shall enter into speculative and trading activity in
stocks, shares, bonds, or any other securities or commodities, either on his/her own account or
that of any other person, firm, company, nor shall involve in other speculative activity (ies)
including betting/gambling. Further, an employee andhis/her immediate family shall not derive
any benefit or assist others to derive any benefit from the access to and possession of information
about the Bank, which is not in the public domain and thus constitutes inside information. All the
employees are required to comply with the applicable company law on prevention of inside
trading.

3. No employee shall accept any presents either in cash or kind from Bank clients, suppliers ,
vendors and contractors or others, by way of illegal gratification or otherwise. Any such instance
where business judgment has been compromised due to such monetary or non‐monetary gifts
will be considered as a violation of this code. Accepting gifts and benefits that may appear as
engaging others in bribery or influencing for a consideration for an official or business favor is
prohibited.

4. No Employee shall give or take bribe or engage in any form of corruption.

5. No payment or transaction should be made or undertaken, by an employee or authorized or


instructed to be made or undertaken by any other person or the Bank if the consequence of that
transaction or payment would be the violation of any law in force.

6. No employee shall take part in, subscribe in any aid of, assist in or take part in any political
activity whatsoever. No employee shall canvass or otherwise, interfere or use his/her influence
in connection with or take part in any election to a legislative or local body, whether in Pakistan
or elsewhere. Provided that a Bank employee who is qualified to vote at such election may
exercise his/her right to vote.

7. An Employee must not peruse such outside business activity(ies) and relationships using Banks
resources ( including but not limited to physical space, office supplies, office communication
equipment or time) or allow any outside business , civic or charitable activities to interfere with
his/her job performance. Employee must never compromise on integrity, either for personal or
professional benefit. Each employee is also personally responsible for the integrity of the
information, reports and records under his/her control.

8. Employee shall not commit any act of subversion or misconduct or misbehaviors; and will also
not act in any manner, which could be prejudicial or detrimental to the interest of the Bank. The
Bank shall be entitled to dispense with the services ofany employee, any time per the law of
his/her employment and/or repeated negligence, disobedience, dishonesty, breach of trust, acts
of any other misconduct or subversion without any notice.

9. All Employees shall avoid, during his/her employment or thereafter to disclose or divulge to
any person whomsoever any information relating to the Bank or its customers, suppliers,
employees or any confidential information which he/shemay have access to while being in the
service of the Bank. All Employees shall be bound to protect the confidentiality of the non‐public
information at all times.

10. Notwithstanding anything contained hereinabove every employee will abide by all the laws
of the land including Labor Laws where applicable.

11. Employees are expected to be at work on time every business day. In the event that
employee is absent or late due to illness, accident or personal reasons, he/she is required to
inform his/her supervisor as soon as possible so that the department may make other
arrangements for substitute help while the employee is away.

12. In case of resignation every employee will have to attend his/her duties until the resignation
is accepted and employee is properly relieved by the competent authority. In case he/she fails to
attend his/her duty after tendering resignation, the resignation will not be considered and he/she
may be dealt according to the relevant HR Policy.

13. All employees are expected to comply with ethical standards as a critical element of their
responsibilities. It is encouraged to raise possible ethical issues and Bank prohibits any retaliatory
action against any individual for raising legitimate concerns regarding ethics, discrimination or
harassment matters or for reporting suspected violations. In case of any issue that has been
reported, investigation / inquiry shall be held, and all employees are required to fully cooperate
with any appropriately authorized internal or external investigations.

14. Employees are expected to dress in a manner consistent with the nature of work performed.
While at work, all employees are expected to dress neatly and appropriately in normal office as
per the Dress code policy of the Bank. Use of Jeans, T‐ shirts, shirts without collar, fancy color
shirts and see‐through fabrics, clothes with advertising logos or logos promoting offensive
messages i.e. cigarettes, alcohol and/or drugs, joggers, sandals and slippers are strictly
prohibited.

15. All employees are expected to abide with the personal hygiene requirements. This includes
taking care of body odor, bad breath, teeth, nails, ears, eyes, nose, hair, hands, feet and health.

16. All employees are responsible for safeguarding the tangible and intangible assets of Bank and
its customers, suppliers and distributors that are under their control. Bank assets may be used
only for proper company purpose. Misappropriation, carelessness or waste of Bank assets is a
breach of

17. An employee must not : ‐ steal, embezzle or misappropriate money, funds or anything of
value from the Bank , doing so shall subject him/herto potential disciplinary action according to
the bank policy ‐ use Bank assets for personal gain or advantage ‐ remove bank assets from
their premises and facilitiesunless properly authorized by the relevant competent authority ‐
use Bank’s stationery or corporate documents, Bank’s brand name for nonofficial purposes since
such implies endorsement from Soneri Bank.

18. Employee at the time of separation from Bank should return Bank assets, facilities
(blackberry, laptop, mobile etc), visiting and Identity cards,stamps etc

19. If employees are supplied with an identification card, this must be worn visibly when on
Bank’s premises. Each employee is also responsible for the safekeeping ofhis/her ID card.

20. Bank’s telephone, e‐mail, voice‐mail, computer, systems etc are primarily for business
purposes. Employees may not use these systems in a manner that could be harmful or
embarrassing to Bank. Personal communications using these systems must be kept to a
minimum. In case of his/her separation from the Bank, all rights to property and information
generated or obtained as part of an employment relationship remains the exclusive property of
the Bank only.

21. Records are very important business assets. The Bank is committed to managing its records
in a consistent, systematic and reliable manner; records provides evidence for business activities
and decisions and are often required to meet legal and regulatory requirements. Employees are
required to retain the records in accordance with their importance and applicable statutory
record retention requirements and Bank policies.

22. The Bank is also committed to accuracy in tax related records and tax reporting in compliance
with the overall intent and applicable laws. Tax returns must be filed on a timely basis and taxes
due paid in time.

23. The Bank believes that diversity in the staff is critical to its success and is fully committed to
equal employment opportunity, compliance with fair employment practices and
nondiscrimination laws. The Bank prohibits sexual or any other kind of discrimination,
harassment or intimidation, whether committed by or against a supervisor, co‐ worker,
customer, vendor or visitor.

24. Where husbands, wives or other relatives are employed in the same or related areas, no
employee should allow personal and/or domestic circumstances to impinge upon or affect either
working relationships or the breach of bank’s employment regulations regarding confidentiality
and fidelity.

25. An employee must never use Bank systems to transmit or receive electronic images or text
of a sexual nature or containing ethnic slurs, racial epithets or any other material of a harassing,
offensive or lewd nature.

26. Selling, manufacturing, distributing, possessing, using or being under the influence of illegal
drugs on the job is prohibited.

27. To protect the well being of Bank’s valued customers and employees, smoking and eating
betel leaf within the premises of Bank is strictly prohibited.

28. All employees must comply with all applicable health and safety policies.

29. No employee may take unfair advantage of anyone through manipulation, concealment,
abuse of confidential information, misrepresentation of facts or other unfair dealing practices.
30. No employee other than the authorized thorized personnel is allowed to publish, make
speech, give interviews or make public appearance that are connected to Bank’s business
interests, else an approval is required from HR, Head of Compliance and President.

31. Employees responsible for buying assets on Bank’s behalf should purchase all goods and
services on the basis of quality, price, availability, terms and service. Employees responsible for
customer relationship must never lead a supplier or customer to believe that they can
inappropriately influence any procurement decisions at Bank. Employees shall ensure to abide
by all the provision of the Fixed Asset Management and Expenditure Control Policies of the Bank

32. Real or perceived conflicts of Interest in any process or form should be disclosed and
avoided. An employee or any of his/her relatives / associates should not derive any undue
personal benefit or advantage by virtue of his/her position orrelationship with the Bank. Any
dealings with a related party must be conducted in such a way that no preferential treatment is
given and adequate disclosures are made as required by the law and as per the applicable policies
of the Bank.

33. Employees should also take steps to ensure that business related paper work and documents
are produced, copied and faxed are properly filed and stored or if not needed, should be properly
discarded to minimize the risk that an unauthorized person might obtain an access to confidential
information. Access to work areas and systems should also be properly controlled.

34. Employees of the Bank are strictly prohibited to disclose the fact to the customer or any other
quarter that a suspicious transaction or related information is being or has been reported to any
authority, except if required by law.

35. Employees must be sensitive to any activities, interests or relationships that might interfere
with or even appear to interfere with his/herability to act in the best interests of Bank and its
customers.

36. If any personal investment that affects or appears to affect an employee’s ability to make an
unbiased business decision for Bank, should be avoided.
37. An employee must notify authorized person or HR of any business relationship or proposed
business transaction Bank may have with any company in which he/she or a related party has a
direct or indirect interest or from which he/she or related party may drive a benefit. Even if
related party or relative is employed, this may raise conflict of interest. Therefore, it should be
avoided.

38. Bank employee and their families are encouraged to use Bank for their personal financial
services needs.

39. The Code of Conduct is subject to variances, modifications, and amendments, from time to
time through the resolution of the Board of Directors.

40. In case of the breach of any of the above ‘Code of Conduct”, the employee shall be liable to
disciplinary action. This shall be without prejudice’ to any other rights and remedies of the Bank.
Failure to observe these policies may result in a disciplinary action, up to and including immediate
termination of employment or any other relationship with the Bank. Furthermore, violations of
this Code may also be violations of the law and may result in civil or criminal penalties. If an
employee has any questions about these policies or would like to report violation of the Code of
Conduct, he/she may approach Head of Compliance Division

ORGANIZATIONAL STRUCTURE
Branch Structure (Hierarchy)

Chief Manager

Senior Manager

Assistant International Advances Head Cashier Agriculture


Manager- Banking Incharge OG-3 J.O Department
OG-1 Incharge OG-
1
Cashier J.O
Advances OG-
CD Incharge
International 3
OG-1
Banking OG-2
Assistant

Account
International
Opening
Banking OG-3
OG-1

Account International
Opening Banking J.O
OG-2

Typist J.O System N.C.S


Clearing & Administrator
Remittance
J.O

J.O SVP 1
VP 1
TAFF STRENGTH

O.G-1 4
O.G-2 2
O.G-3 4
J.O 7
PART THREE

Administrative style/leadership style

The process of influencing a group of people toward achievement of preselected goals

is called leadership. The person who makes this purpose is who can influence other /
groups of people and who has managerial authority is called leader. The Soneri Bank

has formal way of leadership style.

The leader of Soneri Bank has the following Traits & Skills in themselves.

 Decision making

 Risk taking & Risk bearing


 Stress taking & Stress bearing

 Communication Power
 Honesty
 Strong vision
 Inter personal skill

 Step forward
 Discipline

 Believe of on equality

Democratic leader
The leaders, Soneri Bank have, are the types of “Democratic”. Because the major portion

of bank is ‘De-centralized’ that’s why each leader have the complete power of decision
making, but they are working “Collaboratively” in whole organization with each other.

All leaders of bank are involved in decision making, delighting their authority to their
higher qualified employees, encouraged the participation of their employees in work

and gives them opportunities coaching in well manner.

Soneri Bank has formulated certain sets of strategies to enable it to achieve its goals and
objectives. These strategies are mentioned below:

1. In order to achieve its goals of creating a sound base and presence of efficient

modern banking system, Soneri Bank has started operation of Automated Teller
Machines (ATM) in all the major areas like Karachi, Lahore, Islamabad and other

cities of Pakistan.
2. Soneri Bank is committed to building long-lasting relationships through an

assertion to service excellence and providing innovative products to meet the


changing needs of our valued customers. Although still in its infancy, compared

to the exalted banking standards, Soneri Bank inspired by the vision of its Board

and Management, has built up a strong customer base. The Bank provides a full
range of banking services to corporate clients, while applying leading

technologies. Today the Bank is well-positioned to provide appropriate banking


services to customers.

3. The main focus is building relationships and being known by the way they do
business. Management recognizes that a banking relationship requires

compatibility, communication, and cooperation and that each customer deserves


nothing less than full attention and available resources to meet their financial

objectives.
4. Core value and corporate culture is based on the belief that superior personalized

service is the most important product. Bank is in the process of getting to know
customers by name and understand their business and personal financial needs.

This one-on-one, personalized service quality has served as Soneri Bank unique
signature since inception and continues to separate it from other financial

institutions.
5. The Soneri Bank team comprises of some of the most highly skilled and

professional financial experts in banking industry. Managers, lenders and trust


advisors offer the unique perspective of knowing and understanding in the local

economy. The Management focuses its attention on making informed and


feasible economic decisions, bringing better returns and more profitability for

investors and customers.


6. To acquire the reputation and status of bank which operates on international

standard, Soneri Bank was to get the credit rating of Pakistan Credit Rating
Agency, which gave it the AA- and A1+ in the long term and short term

respectively.

Control at Supervisor and Managerial Level:

At lower level in the Bank supervisor and manager ensure the proper handling of the

activities and they assign the targets to their subordinates to achieves in a given time
and at those bases, they asses the performance of the employee.

Importance of control:
Control is very much important because it is the final link in the management function. It

is the only way manager know whether organizational goals are being met or not and
the reason why?

In Soneri Bank the importance of control can not be neglected because it’s a services

base organization and deals with finance. Every employee in this organization has direct
and indirect interaction with financial activities and finance playing the key role in the

progress of the bank.


PART FOUR

Marketing Mix

The service marketing mix of Soneri bank discusses the various P’s of Soneri bank and
how the bank is using an effective marketing mix to increase its customer base and rise
in the banking industry.

PRODUCT

The main products of Soneri Bank are Saving Account, Current Account and PLS
account. The other products are Home loan, personal loan, Insurance, Credit cards, etc.

For better marketing of products, the products are categorized under Soneri and Soneri
Sales.

Products under Soneri Bank are

 Saving Account
 Current Account
 Trade Department
 Salary Accounts

Products under Soneri Sales are

 Home loan
 Personal loan,

PRICE
The price of the product depends upon the services provided by the Bank on the
respective product to the customers. For a detailed view, the latest schedule of charges
has been given here.

INTERNATIONAL BANKING
A. IMPORTS:
i CASH LETTER OF CREDIT

a. OPENING OF LC First Quarter For Each


Subsequent Quarter
(Commission)
Upto Rs. 10 M 0.40%
0.20%
over Rs. 10 M up to Rs. 100 M 0.30%
0.20% Rs.2,000/-
over Rs.100M up to Rs.200M 0.15% Min.
0.10%
Above Rs.200M 0.10%
0.10%
Note : The above commission is subject to adjustment after obtaining approval of
competent authority based on annual volumes / values & arrangements with customer.
b. Revalidation Commission of Expired LC As applicable for opening of fresh LC as per
i - a above.
c. Transfer to new beneficiary As applicable for opening of fresh LC as per
i - a above.
d. Commission on Establishment of LC 0.30% flat for LC
/Contract against 100% Margin 0.15% flat for Contract
e. Amendments Rs.1,500/- per transaction (flat) OR
Commission under items (i) or (ii) above, if
amendment involves increase in amount or
extension in period of shipment.
f. LC cancellation charges Rs.1,500/- plus SWIFT charges

First Quarter For Each


Subsequent Quarter
g. Non-Reimbursable LCs under 1% per qtr. or part thereof Rs.1,500/-
Barter/AID/Loans. 0.3% per qtr. or part thereof Min
h. LCs under Suppliers/Buyers Credit, PAYES Commission @ 0.40% per Qtr. or part
(Pay as You Earn Scheme) and Deferred thereof. (At the time of opening of LC to be
Payment LCs for period over one year. charged on full amount of LC liability plus
interest payable thereon for the period
from the date of opening of LC till the
expiry of LC, thereafter commission is to be
recovered on six monthly basis on reducing
liability). All such LCs will be opened
subject to approval.
ii. SIGHT LCs:

Markup on Import Bills under LC 20% p.a. plus other charges as per SOC
Overdue markup from PAD
a.
lodgment/negotiation date to date of
payment.
b. In case documents are retired after 15 days, Paisas 25 per Rs.100/-
Bank's commission to be charged in
addition to PAD overdue markup.
iii. USANCE BILLS:

a. Bills drawn at Usance under the LC other 0.25% or Rs. 2,000/- whichever is higher, is
than PAYES (Pay as you Earn Scheme) and to be recovered at the time of retirement
Suppliers / Buyers of the cases which are beyond validity of
Credit LC.Number of days from LC validity date till
retirement date. However, no commission
is to be charged if the maturity/payment
period of the bills falls within the period for
LC opening commission & which has
already been recovered.
b. Overdue Markup in case DA/Usance Bills 20 % flat overdue mark-up flat (from the
are not paid by importers on due date date of maturity till adjustment date) is to
be recovered on bill value or pricing as per
credit approval will be applied.
Note:
- No Markup to be charged from the date of negotiation to the date of lodgment if
100% interest/return free cash margin is provided.
- Where value date of debit to our account is mentioned on covering
Schedule/Telex/Swift intimation, markup to be charged from such effective value date.
- Rates are subject to adjustment after obtaining approval of competent authority
in consideration of business volumes/values & arrangements with the customers. -
When reimbursement is made upon receipt of documents markup is to be charged from
the date of remittance.
iv. Import Bills returned unpaid US$100/- flat from forwarding Bank plus
courier charges
v Documentary Collections Rs.1,250/-flat for all import bills under
a. contract, collection, consignment, advance
payment & in case charges are on Exporter
/Presenter account US$15/ flat.
b. Registration of Import Contract 0.20%, Minimum Rs.1,250

c. Import Contract Amendment Rs.750 on each subsequent amendment in


registration
If increase in amount and / or period is
involved Commission as per Registration of import
contract on Increased amount only.
Note : The above commission is subject to adjustment after obtaining approval of
competent authority based on annual volumes / values & arrangements with customer.
Service Charges against import transactions
i.e. Import Bills (PAD) / Collections (IB) /
Contract /Advance Payments and 0.13% - Minimum Rs.1,000/- Plus actual
vi.
Consignment payment Remittance against swift charges in all cases
import with or without LC / Advance
payment.
vii. Reimbursement charges (payable to At actuals
reimbursing Banks)
B. EXPORTS:

i LETTERS OF CREDIT

a. Advising Rs. 1,500/- for customers


Rs. 2,500/- for non-customer
Plus swift and courier charges
b. Amendment Rs. 1,000/- for customers
Rs. 1,300/- for non-customer
Plus swift and courier charges
c. Confirmation 0.40% per quarter - Minimum Rs.1,000/-

d. Transfer of Export LCs Rs.1,000/- Flat plus Swift &/or Postage


Charges
Handling of Export document under Rs.15,000/- Flat - If with substitution
transferred LC of documents plus swift &/or Postage
Charges $100
ii. If the documents are sent to other banks Rs.1,000/- Flat Handling charges plus 0.13%
for negotiation under restricted LCs service charges
If proceeds not realized within period of the
deal fixed pricing @ 18% or pricing as per
Negotiation/Purchase of Export Bills under
iii. credit approval will be applied. In case
Sight or Usance LC or DP Collection
FDBC converted into FBP/FBD/IBP, no
handling charges should be recovered.
iv. Handling & Service Charges For Overdue Rs. 1,000/- per bill for all overdue bills
Export Bills Reporting
v. COLLECTIONS:

a. Handling of Export documents.

Collection (Sent on Collection under LC & 0.13% of bill amount, Min Rs. 2,000/- Plus
Contract basis): Swift charges if any.

Advance Payment : 0.13% of bill amount, Min Rs.1,000/-


b. Foreign Bills for Collection Rs.500/- plus courier charges &/or Swift
(Clean/Documentary) returned unpaid. Charges, if any.

c. If payment of Exports / Advance payment 0.15% for Karachi, min 500 per transaction
to Afghanistan & Central Asia Republics is 0.25% for other cities, min 500 per
deposited in FCY notes in FC Accounts/ transaction
Encashment in PKR
d. Submission Of Shipping Documents By Rs 500/- per shipping document
Exporter Against Advance Payments
Beyond 90 Days From Shipment Date.

C. OTHER TRADE CHARGES:

i. Handling of Duty Draw Back Claims 0.35% - Minimum Rs.500/- per claim

ii. Handling of Research & Development 0.4% - Minimum Rs.500/- per claim
Support claims - SBP

iii. Collection of Export Development Rs.80/- per transaction to be charged to


Surcharge exporters

Overdue FAFB/FAPC Overdue Export


Refinance.
20% p.a. from the date of overdue /
iv. Overdue FAFB: DP documents 45 days from
Maturity to date of payment
the date of disbursement and other Usance
DA documents three days after maturity.

For FE-25 Loans i.e. Overdue FLATR in


Import and FBD, Pre & Post shipment in
FE-25 Loans i.e.. Overdue FLATR in Imports Export cases, rate will be applied in
v.
and FBD , Pre or Post Shipment in Exports addition to 5% on agreed pricing, in case of
exceptions approval from competent
authority is required.

Letter or intimation of any sort sent to Rs.500/- per case


other bank
vi.
Note: NOC to other banks for E Forms
verified by us is no longer required

vii. Handling of Transaction of indirect Rs.500/- per case


exporters (SPO)
viii. Submission of Application for freight Rs.500/- per case
subsidy

ix. Issuance of proceeds realization certificates Rs.500/- per certificate


(Annex: A) for rebate claims

x. Obtaining SBP Approval for FX Transactions Rs 1,000/-

xi. Correspondent's Charges At Actual

xii. For verification of test or authenticity of Rs.350/- plus Swift charges &/ or postage
Swift message on behalf of other Banks

xiii. Duplicate Advices, Annexures, PRC, etc. Rs.150/- per item

xiv. Obtaining credit reports from foreign a) On foreign suppliers - Actual


supplier / vendor Charges of Credit Rating Company
minimum Rs.500/- plus Foreign Bank /
Obtaining from foreign banks through swift
Agent Charges (if any).
b) To Foreign Banks on their request -
US$ 100 from Foreign Banks
c) To Foreign Banks on customer's
request - Rs. 625/-

xv. Discrepancy fee, if discrepant documents US$100 or equivalent in PKR


are presented by negotiating bank.

Handling Charges in lieu of exchange


earnings where importer buys Foreign
xvi. 0.13% - Minimum Rs.625/-
Exchange from some other bank for LC
opened / contract registered with us.

xvii. Reimbursement payment to / from other Rs.500/- Flat


local banks from Non Resident Rupee
Accounts
xviii. Assignment Of Proceeds To Other Banks Rs 1,000/-

xix. Business Performance Certificate Rs 500/-

Export Refinance Application - Handling Rs.600/- per application

xx. Charges Rs.500/- per case


ERF substitution

xxi. LTFF (Long Term Finance Facility under SBP Rs.1,750 per case
Scheme) - Handling Charges

xxii. EE Certification Rs. 1,000/- per case

xxiii. EE NOC Issued To Other Banks Under ERF Rs. 1,500/- per case
Scheme

xxiv. Any out of pocket expense of the bank not At actual


mentioned in the SOCs

D. REMITTANCES: (FOREIGN CURRENCY)

i. OUTWARD:

a. FDD/FTT (for remittances abroad through FDD - US$ 15 Plus Swift charges
FC A/c)
FTT - US$ 30 Plus Swift charges

b. FDD Cancellation Charges US$ 7 or equivalent plus Swift Charges

c. FDD Stop Payment USD 5 or equivalent plus SWIFT charges.


Foreign bank charges may also apply as per
actual.

d. Duplicate FDD issuance charges US$ 10 or equivalent plus Swift Charges

e Service charges against issuance of FTT/FDD Paisas 13 per Rs.100/- or Rs.1/30 per mille.
against Pak Rupees
f. Remittances/Encashment from FC A/c 0.25% Flat - Minimum Rs.200/-
within 10 days of deposit of FCY Notes.

g. Deposit of USD, EUR, GBP & UAE Notes in 0.5% at upcountry branches & 0.25% at
FC Accounts of Exchange Companies Karachi branches - Minimum Rs.500/-

ii. INWARD:

a. Others NIL if proceeds credited to an account with


us otherwise charges of Rs. 200/-

b. Indenting Commission Service Charges @ Paisas 13 per Rs.100/-


Minimum Rs.200/-

c. Return of Inward Remittance US$ 10/- or equivalent

d. Issuance of proceeds realization certificates Rs.500/- per certificate


remittance dated beyond one year

E. COLLECTION: (FOREIGN CURRENCY)

i. OUTWARD:

a. Cheques / Bank Drafts / TCs etc. US$25 or equivalent per instrument plus
courier charges, in case of TCs.

US$25 per collection PLUS courier charges;


and in case amount is credited in PKR A/C
then service charges @ Paisas 13 per
Rs.100/- - Minimum Rs.500/-

b. Cheques returned unpaid Actual charges of returning bank plus US$


10 or equivalent Plus swift charges, if any.

c. USD Clearing through NIFT US$ 6/- per transaction for Karachi
Branches & US$ 6/- plus courier charges for
other branches.
ii. INWARD:
a. Inward clean collections received from US$ 10 per instrument Plus swift charges.
abroad or local banks

b. Inward FCY cheque returned unpaid due to US$ 10 per instrument plus courier and swift
insufficient balance charges, if any. Correspondence charges will
be extra if any.

F. PURCHASE OF CLEAN COLLECTION

i. Purchase of clean FCY Instruments like Rs.470/- Handling charges --- OD buying
Cheques, Bank Drafts, TCs, etc. rates to be applied. If proceeds are not
realized within 12 days then paisas 50 per
Rs.1,000/- per day to be charged.

G. STANDING INSTRUCTION IN FCY


ACCOUNTS

i. Standing instructions Fee US$ 1/- per transaction or equivalent

ADVANCES

A FOLLOWING CHARGES WILL BE RECOVERED IN ADDITION TO MARKUP/RETURN ON


INVESTMENT:

Miscellaneous charges i.e. Charges of


documentation, Evaluation of Security,
i. Search, Mortgage charge registration and Actual
maintenance thereof, etc. in addition to
that:

a. Project Examination Fee 1%, where applicable

Commitment Fee on undisbursed balance


(from the date of sanction to the date of
b. 0.50%, where applicable
disbursement, only on fund based
commitments)
ii. Legal Charges

a. In-house Legal Advice (Pre-mortgage) Rs.15,000/-

b. In-house Legal Advice (Post-mortgage) Rs.7,000/-

c. Outside Legal Advice Actual

d. Drafting of Agreement / Mortgage Deed & Rs.2,500/-


Power of Attorney etc.
iii. To mark lien on securities issued by other Rs.500/-
Banks/DFIs
iv. Legal Documentation Cost Actual plus any out of pocket expenses

v. Redemption fee to be recovered from party Rs.2,500/- Flat


when bank officers are required to go
before Registrar for redemption of the
mortgage
vi. eCIB report charges Rs.125/- per report

vii. For issuance of any NOC for pari-passu Rs.7,500/- Flat


charge/ JPP charge or reduction/
amendment in the charge amount/
description.
viii. Credit Worthiness Report/BIR fee from Actual
outsource evaluator
ix. Project evaluation / Appraisal fee from Actual
outsource evaluator
x. Vacation of charge Fee/ Release of Security Rs.1,500/- per property/security

xi. Late Payment Charges Late payment charges at 2.00% p.a on the
outstanding exposure, to be calculated on
i) On delayed payment of number of days payment delayed/condition
principle/markup on due date uncompiled.
after grace period ii) Late
payment of installments
xii. Safe Custody Fee for holding/safe keeping Rs.5,000/- per month
the property documents against which all
the lines have been cancelled / no exposure
outstanding.
B COMMERCIAL/RETAIL/SME FINANCE: (NEW/RENEWAL/ENHANCEMENT)

Processing Fee for Facilities up to Rs.1m Rs.3,000/- Flat


Processing Fee for Over Rs.1m up to Rs.10m Rs.5,000/- Flat
Processing Fee for Over Rs.10m up to 0.05%
i. Rs.25m Minimum Rs.
Processing Fee for Over Rs.25m 7,500/0.02%
Minimum Rs.
12,500/-
ii. Processing Fee for all One off facilities - Rs.3,750/- Flat
Under schedule of BDP (Business
Discretionary Power)
iii. Processing Fee for Interim Extension/ Rs.1,875/- Flat
Review
iv. Late Payment Charges Late payment charges at 2.00% p.a on the
i) On delayed payment of outstanding exposure, to be calculated on
principle/markup on due date number of days payment delayed/condition
after grace period ii) Late uncompiled.
payment of installments
C PLEDGE / HYPOTHECATION FINANCING
i. Movement out of shares pledged Rs.500/- per transaction

ii. Go-down Rent Actual

iii. Salaries of Godown keepers / Chowkidars Actual

iv. Stock inspection, if conducted by Bank staff Exposure upto Rs. 10(M): Rs.1,000/- or
Actual - Whichever is Higher
Exposure Over Rs. 10(M): Rs.2,500/- or
Actual - Whichever is Higher
v. Stock inspection, if conducted by agents Actual
appointed by Bank
vi. Inspection of vessels for scarping / stock of Rs.1,000/- for facility up to Rs.10m &
scrap of vessels Rs.2,000/- over Rs.10m plus conveyance
charges
vii. Delivery charges, if Godown keeper is not Actual plus conveyance charges
posted
viii. Other incidental expenses, insurance Actual
premium, legal charges, etc.
ix. FIM Commission 1% Flat, Min. Rs.500/- in case of un-
serviceable ships for scrapping no
commission to be charged
x. Penal charges on overdue FIM / FTR 20% p.a. from the date of overdue /
Maturity to date of payment
xi. Clearing & Forwarding Agent Fee for Actual
clearing/off-loading imported goods from
Carrier.
xii. Late Payment Charges Late payment charges at 2.00% p.a on the
i) On delayed payment of outstanding exposure, to be calculated on
principle/markup on due date
after grace period ii) Late number of days payment delayed/condition
payment of installments uncomplied.
Note: While recovering Miscellaneous charges like godown rent, godown staff salary,
inspection charges etc. the amount recovered from the borrower shall not exceed total
rent of the godown, salary of the godown staff etc. In other words, charges should be
levied as per actuals and should not become source of profit to the Bank.
D AGRICULTURE FINANCE:
i. Processing Fee 0.75 % of the Finance amount or minimum
Rs. 2,500/- whichever is higher at the time
of Fresh
Disbursement/Renewal/Enhancement.
ii. Late Payment Charges Late payment charges at 2.00% p.a on the
i) On delayed payment of outstanding exposure, to be calculated on
principle/markup on due date number of days payment delayed/condition
after grace period ii) Late uncomplied.
payment of installments
E CONSUMER FINANCE:

i. Soneri Car Finance

a. Charges of documentation, Valuation of Actual


used/reconditioned vehicle, Vehicle
Registration & Comprehensive insurance
Policy Premia
b. Processing Fee Rs.6,500/- Flat upto 1.0 M Finance.
Rs.7,000/- Flat from 1.1 M to 1.5 M Finance.
Rs.7,500/- above 1.5 M Finance.
Within
c. Prepayment Charges 5% of outstanding amount being prepaid
1-3 Yr.
Within
4-5 Yr.
Within6-
7 Yr.
d. Late Payment Charges Rs.1,000/- per installment per month

e. Vehicle Repossession charges Actual incurred by the Bank, upto a


maximum of Rs.50,000/-
f. Safe Custody Fee for holding/safe keeping Rs.1,000/- per month
the excise file / title documents against
which finance for purchase of vehicle has
been adjusted.
g. Re-issuance of NOC Rs.1,000/-

ii. Soneri Personal Finance

a. Miscellaneous Charges for Documents Actual

b. Processing Fee Rs.2,500/-

c. Prepayment Charges 5% of outstanding amount being prepaid

d. Late Payment Charges Rs.500/- per installment per month

iii. Soneri Ghar Finance

a. Charges of documentation, Evaluation of Actual


Security, Search, Mortgage charge
registration and maintenance thereof, etc.
b. Processing Fee 0.50% of finance amount - Minimum
Rs.2,500/-
c. Mortgage Protection Insurance Premia Actual
d. Prepayment / Balloon Payment Charges 2.5% of outstanding amount being prepaid

e. Late Payment Charges Rs.500/- per installment per month

f. Safe Custody Fee for holding/safe keeping Rs.5,000/- per month


the property documents against which all
the lines have been cancelled / no exposure
outstanding.
F COMMERCIAL FINANCING OF CARS/VEHICLES

i. Charges of documentation, Vehicle Actual


Registration & Comprehensive insurance
Policy Premia
ii. Processing Fee 0.60% of finance amount-Minimum
Rs.3,000/-
iii. Late payment charges Rs. 925/- per installment

iv. Safe Custody Fee for holding/safe keeping Rs.1,000/- per month
the excise file / title documents against
which finance for purchase of vehicle has
been adjusted.
G GUARANTEES

i. Guarantees issued to Shipping Companies / Rs. 1,500/- (Flat) per


Airlines in lieu of Bills of Lading / guarantee/endorsement
Endorsement of Airway
Bills
ii. Guarantees issued to Collector of Custom in 0.60% per quarter or part thereof. Minimum
lieu of payment of Export Duty which are Rs. 1,500/-
valid up to 6 months
iii. Other Guarantees

a. On behalf of residents in Pakistan 0.50% per quarter or part thereof. Minimum


Rs. 1,000/-
b. Issued in Pakistan on behalf of non-resident 0.50% per quarter or part thereof. Minimum
against the counter guarantee of USD 100/- or as per the arrangement
correspondent/foreign bank
iv. Guarantees in favor of beneficiaries
outside Pakistan. (to be issued under SBP
Regulation covered under FE Manual and
Prudential Regulation. If not covered then
prior approval of SBP required as the case
may be)
a. Commission 0.50% per quarter or part
thereof. Minimum Rs.
1,000/- plus
correspondent bank and
full Swift charges
b. Other Charges Correspondent bank's guarantee
commission and other charges as claimed
on actual basis.
v. Amendments

a. Amendment in text not involving change in Rs. 750/- per amendment


amount and tenor
Rs. 750/- amendment charges. In addition to
Increase in amount and or extension in
b. difference of commission for extended
period
period and amount.
c. SWIFT charges Full SWIFT Rs. 1,500/- , if applicable
vi. Claim Handling Charges

a. LG issued to beneficiary in Pakistan on Rs. 2,500/- plus other applicable charges


behalf of resident
b. LG issued to beneficiary in Pakistan against USD 75/- plus and SWIFT charges
counter guarantee from correspondent /
foreign bank
Rs. 500/- per cancellation plus
Cancellation charges within expiry of - Guarantee commission will be recovered
vii.
guarantee from the date of issuance of the guarantee
till the date of expiry.
viii. Consortium Guarantees As per agreement

ix. Guarantees issued in Pakistan against 100% NIL


Cash Margin on which no return / profit is
paid.
x. Guarantee revalidation/renewal Commission as per item ii, iii and iv-a above.
commission after expiry
xi. Authenticity confirmation charges Rs. 1,000/- per confirmation

xii. LG Collection Charges Rs.1,000/- per instrument L/G

Note:
a. All guarantees issued by the bank must contain specific amount and expiry
date and a date by which the claim is to be lodged. Commission would be charged for
the period inclusive of the claim period.
b. For issuance of guarantee locally against counter guarantee of foreign
correspondent/bank, varying rates can be offered based upon reciprocal business
received. c. Commission on guarantees will be recovered upfront at the time of
issuance.
d. In case guarantee is issued for more than one year, based upon internal approvals
commission period can be broken down where for the first year it will be recovered in full upfront
at the time of issuance and subsequently for the next period it can be recovered for the full year /
broken period as the case may be at the expiry of preceding year.
e. Commission to be charged from the date of issue till expiry of letter of guarantee. In case
of open ended guarantee, commission will continue to be charged till such time the bank is
released from its liability under the guarantee, whichever is later.
f. Guarantee commission will continue to be charged for expired guarantees until original
instrument is return / bank is released from liability by the beneficiary.
g. Where guarantees are to be issued outside Pakistan, such requests to be complied with
prevailing FE and Prudential Regulations. Where required, prior approval from SBP to be obtained.
DOMESTIC BANKING
A INLAND TRADE

i. INLAND LETTERS OF CREDIT

a. Opening commission 0.40% per quarter or part thereof -


Minimum Rs.1,000/- for first quarter and
0.20% for each subsequent quarter or part
thereof
b. Amendments i) Rs. 1,250/- Per Amendment
ii) Amendment Processing Charges Rs.
1,250/-
Plus Commission Under Items Opening
commission, If Amendment Involves
Increase In Amount Or Beyond Validity Of Lc
/ Or Extension In Lc Validity.
c. Others In case an inland LC is opened through
another bank, then actual charges of the
Bank opening the LC would be recovered in
addition to our own charges prescribed
above. The same would apply to
amendment to LCs opened through other
banks.
d. Advising Rs.1,500/- (Flat)

e. Amendment Advising Rs.1,000/- (Flat)

f. Discrepancy Fee Rs.1,500/- per document

Note:
1. The above commissions at (a), (b) & (c) is subject to adjustment after obtaining approval of
competent authority based on annual volumes & arrangements with customers.
2. In case commission is for account of beneficiary, it should be recovered upfront from the
openers at the time of opening the LC. On receipt of proceeds plus LC opening commission, the LC
commission so received should be credited to opener's Account.
ii. Authorities to encash cheques No commission by issuing branch but
charges on purchase of cheques will be
recovered as per item
B(ii) (b) below i.e. 0.40% Minimum Rs.15/-
plus courier charges
B BILLS

i. Collection

a. Documentary

1. Through our own branches 0.35% OR Minimum Rs.200/- plus


postage/courier charges
2. Through branches of other banks under
0.50% OR Minimum Rs.200/- plus
arrangements where commission is shared.
postage/courier charges
These charges will also apply in case a
collection is sent to the drawee branch of
another bank
b. Returning Charges for Documentary & Clean Rs. 150/- per bill / instrument plus postage /
Collections in case the instruments are courier charges
returned unpaid
ii. Purchase of Bills, Cheques etc.

Same charges as for collection as indicated


at (i) a. and b. above plus Markup from date
Documentary Bills other than those drawn
a. of purchase to date of payment plus
against LC and Clean Bills / Trade Cheques
postage/courier charges from drawer or
drawee as per arrangements between them.
b. Collection Agent's charges, if the collecting Actual
bank is other than the bank, will be extra
c. Telegram/long Distance call charges will be Actual
extra, if fate of the instrument is asked by
bank.
d. Markup shall be applied as under on Bills
purchased:
1. If retired up to 21 days from the date of paisas 45 per Rs.1,000/- per day
purchase
2.If retired after 21 days paisas 49 per Rs.1,000/- per day

e. Storage Charges No charges, if cleared within 3 days of its


receipt by Branch otherwise Rs.0.50 per
packet per day - Minimum Rs.50/-
iii. Documentary Bills Drawn Against Inland LCs:
a. Sight Bills

1. At Negotiating End

a. Negotiation Commission 0.39% - Min. Rs.500/- (if not realized within


12 days then paisas 50 per Rs.1,000/- per
day to be charged for any delay beyond 12
days).
b. Collection charges for restricted LCs Rs. 425/- (Flat) per bill
(Where negotiation is restricted to some
other bank and presented to us for
forwarding)
2. At opening end (at the time of retirement
rates of Markup:
a. Markup on Import Bill under LC Overdue 20% p.a plus other charges as per SOC.
markup from PAD lodgment / negotiation
date to date of payment.
b. In case documents are retired after 15 paisas 25 per Rs.100/-
days, bank's commission to be charged in
addition to PAD overdue markup.
3. Service Charges on retirement of import 0.13% - Minimum Rs.500/-
bills under Inland LC (Usance & SIGHT)
b. Usance Bills:

1. At Negotiating End, in case of purchase paisas 50 per Rs.1,000/- per day from the
date of purchase till maturity
2. Documentary Bills Drawn Against Inland
LCs ( USANCE BILL) at opening end
a. If bill matures after expiry of LC 0.10 % or Rs. 2,000/- whichever is higher, is
to be recovered at the time of retirement of
the cases which are beyond validity of
LC.Number of days from LC validity date till
retirement date.
However, no commission is to be charged if
the maturity/payment period of the bills
falls within the period for which LC opening
commission has already been recovered.
b. If bill remains unpaid after due date 20% flat overdue Markup from due date till
date of payment
Note: All other charges as per notes a. to c. and e. above, where applicable, shall also be
applicable.
C REMITTANCES (LOCAL CURRENCY)

i DEMAND DRAFT

a. DDs payable on branches of other banks For all amounts 0.15% -


under arrangements, where commission is Minimum Rs.300/-
shared. In case of drawings on other banks where
the minimum amount to be charged under
arrangements with the bank is higher than
our minimum charges than such minimum
charges as prescribed under arrangements
would be charged.
b. DD Cancellation Rs.125/- (Flat)

c. Issuance of Duplicate DD Rs.175/- (Flat)

ii BANKER'S CHEQUE

a. Issuance of Banker's Cheque Rs.250/- (Flat)


b. Issuance of Banker's Cheque for the 0.50% of fees/dues or Rs.25/- per
payment of fees/dues in favor of instrument whichever is less.
Educational Institutions, HEC/Board etc.
c. Cancellation of Banker's Cheque Rs.350/- (Flat)

d. Issuance of Duplicate Banker's Cheque Rs.250/- (Flat)

e Walk in Customer Rs.425/- (Flat)

iii Issuance of SBP and NBP cheque on specific Rs.500/- (Flat)


request of customer
iv Settlement of 3rd Party Fund Transfers
through Prism System (RTGS)
Monday to Friday (MT- 103) Charges

Transaction time from 09:00am to 01:30pm Rs.220/- per transaction

Transaction time from 01.:30pm to 03:00pm Rs.330/- per transaction

Transaction time from 03:00pm to 04:00pm Rs.550/- per transaction

Monday to Friday (MT- 102) Charges

Transaction time from 09:00am to 04:00am Rs. 50/- per transaction

Note: 30 minute processing time will be required for executing RTGS fund transfer for 3rd
party payments. Charges will be calculated on the basis of RTGS transaction processing
time (MT-103).
v ONLINE BANKING

Intercity Cash Deposit/withdrawal

Up to Rs.500,000/- Rs.125/- per transaction


NIL for Twin cities only
Over Rs.500,000/- RS.250/- per transaction

vi CLEARING AND COLLECTION

a. Same day Clearing through NIFT (Outward) Rs.325/- per instrument

b. Intercity outward clearing through NIFT Rs.200/- per transaction

c. Clean (including cheques)

1 . Through our own branches 0.30% OR Minimum Rs.50/- & Maximum


Rs.5,000/- plus postage/courier charges
2. Through branches of other banks 0.35% OR Minimum Rs.100/- & Maximum
Rs.5,000/- plus postage/courier charges &
paying bank charges at actual
d. Other cheques / demand instruments (like 0.40% Minimum Rs.25/- plus postage /
dividend warrants etc.) courier charges
D STANDING INSTRUCTIONS FEE:

a. Standing instructions fee will be recovered Rs. 200/- per execution


in addition to the usual charges on
remittances, if any
b. If funds are transferred in same branch from Rs.50/- per transfer.
one A/c to another. This will however, not
apply in following cases:
E SALE AND PURCHASE OF SECURITIES, SAFE CUSTODY ARTICLES IN SAFE DEPOSIT AND
SAFE DEPOSIT LOCKERS
i Sale and purchase of share and securities 0.15% on the first Rs.10,000/- of purchase
price or cost thereof or Minimum Rs.25/-
and 0.10% on amount exceeding Rs.10,000/-
or Minimum Rs.100/-.
Note:
1. The above charge is in addition to brokerage.
2. Commission is not to be recovered on purchase of newly floated securities, where
it is payable by the Government / Government Agencies, and from the subscribers to new
share floatation.
3. When orders for purchase or sale of share/securities are executed through the
bank's other offices, all incidental expenses, such as postage, insurance charges, etc.
incurred will be recovered in addition to the commission / brokerage charges.
ii WITHDRAWAL FEE on shares and securities 0.25% up to Rs.10,000/- of the paid-up of
held in safe custody (to be recovered at the face value, Minimum Rs.50/- & 0.125% on
time of withdrawal) amount exceeding Rs.10,000/- - Minimum
Rs.100/-
iii WITHDRAWAL FEE on Government Rs.10/- per scrip
Securities (where shares and/or securities
sold are from those held in safe custody,
either commission on sale of shares and
securities, as shown against item (i) or
withdrawal fees, as shown against item (ii)
and (iii), whichever is higher, will be charged
but not both.
iv Charges for collection of interest / return / 0.30% on the amount of interest / return /
dividend dividend collected/paid. Minimum Rs.20/-
v HANDLING CHARGES for conversion, Rs.10/- per scrip
renewal, consolidation or subdivision of
Government Securities
vi Sale of Government Securities like SSC/DSC Transport/Handling Charges of Rs.200/- per
a. etc. at a branch other than an Authorized sale per customer
Branch
b. Encashment of Profit Coupons / Govt. Transport/Handling Charges of Rs.100/- per
Securities like SSC/DSC by a branch other encashment per customer
than Authorized
Branch
vii SAFE DEPOSIT LOCKERS

a. Fee to be recovered in advance at the RENT No


commencement of period Rent against following Key Deposit
i. Small Lockers Rs.2,500/- p.a.
Rs.30,000/-
ii. Medium Lockers Rs.3,750/- p.a.
Rs.45,000/-
iii. Large Lockers Rs.6,250/- p.a.
Rs.60,000/-
b. Key Deposit Rs.2,500/- per Locker

c. Locker Breaking Charges Rs.5,000/- or actual per Locker, whichever is


higher
d. Penalty on account of delay in annual locker 10% of the locker rent due
fee payment
F ALTERNATE DELIVERY CHANNELS

i. Soneri Debit Master Card STANDARD GOLD


GOLD PREMIER WORLD
a. Annual Fee Rs.750/- per year Rs.1,000/- per
year Rs.2,000/- per year Rs.4,000/-
per year
b. Annual Fee Supplementary Card Rs.750/- per year Rs.1,000/- per
year Rs.2,000/- per year Rs.4,000/-
per year
c. Card Replacement Fee Rs.600/- per year Rs.800/- per year
Rs.1,500/- per year Rs.3,500/- per year
d. Local ATM Cash withdrawal from any Soneri NIL
Bank ATMs
e. Local ATM Cash withdrawal from member Rs.18.75/- per transaction
Bank of 1 Link / M-net
f. International ATM Cash withdrawal from Rs.400/- per transaction OR 4% of each Cash
ATMs with Cirrus logo withdrawal, whichever is higher
g. Local Purchase/Services availed at Point of NIL
Sale Terminal (POS)
h. International Purchase/Services availed at Rs.400/- per transaction OR 4% of
POS transaction, whichever is higher
i. Funds transfer through ATM within Soneri Free
Bank Branches
j. Inter Bank Funds Transfer through ATM Transactions Upto 10,000

Rs.35/- per transaction

Transactions from 10,001 to 250,000

Rs.125/- per transaction


k. Balance enquiry through ATMs

1. ATMs located in Pakistan (1 Link, MNET Rs.2.5/-


ATM)
2. ATMs located outside Pakistan PKR equivalent to US$ 2/-

l. Arbitration Charges on disputed transaction PKR equivalent of US$ 500/- per case
(local / International)
m Document Retrieval Charges Rs.500/- per retrieval (Local) and USD $ 10
(International)
n. E-Commerce Session Activation Rs. 100/- per session

o. Chip Maintenance Rs. 500/- one time per card or once every
five year whichever is applicable
p. Card Upgradation Rs. 625/- one time per request
q. Bill Payment Service through ADC School Fees Rs.25/- per transaction

ii. Phone Banking

a. Registration including Balance inquiry, NIL


viewing Statement of account, Mobile top
ups and Utility Bill Payments
b. Funds Transfer within Soneri Bank Branches Free

c. Inter Bank Funds Transfer to 1 Link Member Transaction value upto PKR 10,000
Banks
Rs.35/- per transaction

Transaction from PKR 10,001 to PKR


250,000

Rs.125/- per transaction


iii. Mobile Banking

a. Registration including Balance inquiry, NIL


viewing Statement of account, Mobile top
ups and Utility Bill Payments
b. Funds Transfer within Soneri Bank Branches Free

c. Inter Bank Funds Transfer (IBFT) to 1 Link Transaction upto PKR 10,000
Member Banks
Rs.35/- per transaction

Transactions from PKR 10,001 to PKR


250,000

Rs.125/- per transaction


iv. Internet Banking
a. Registration including Balance inquiry, NIL
viewing Statement of account, Mobile top
ups and Utility Bill Payments
b. Funds Transfer within Soneri Bank Branches Free

c. Inter Bank Funds Transfer to 1 Link Member Transactions Upto 10,000


Banks
Rs.35/- per transaction

Transactions from 10,001 to 250,000


Rs.125/- per transaction

v. SMS Alert Charges PKR account


Rs.90/- per month
USD account
$ 0.60 per month
Euro account
€ 0.50 per month
GBP account
£ 0.50 per month
JPY account
¥ 75 per month
vi. FBR Taxes or Duties Collection though Upto Rs.100,000
Alternate Delivery Channels Rs.10/- Above Rs.
100,000 and upto Rs.1M
Rs.20/-
Above Rs. 1M
Rs.50/-
G INVESTMENT PORTFOLIO SECURITIES (IPS) ACCOUNT
i. Investment Portfolio Securities transactions Rs.625/- per transaction (Sale or Purchase or
(T-Bills/PIB/IJARA/SUKUK) Transfer)
ii. PIB / IJARA / SUKUK Coupon Payment 0.025% semi-annually on face value or
Rs.1,000/- per month, whichever is higher
iii. IPS Statements Quarterly is Free but on request Rs.100/- will
be charged
H COMMUNICATION
i. SWIFT Charges

a. Short messages Rs.750/-

b. Full Text LCs etc. Rs.1,500/-

ii. Postage Charges

a. Postage charges - Inland Rs.75/-

b. Postage Overseas Rs.250/-

iii. Courier Charges

a. Courier - Inland Rs.125/-

b. Courier Overseas Rs.2,250/- or actual, whichever is higher

c. Telephone Charges Rs.100/-

d. Fax charges Rs.25/- per page

I BRANCH BANKING

i. Cheque Book Charges

a. PKR & all FCY Accounts Rs.12/- per leaf or equivalent in other
currencies
ii. Issuance of Cheque Book on Form 'B'

a. PKR & all FCY Accounts Rs.300/- or equivalent in other currencies


plus cheque book charges as per point H-i
iii. Stop Payment of Cheque

a. PKR Accounts Rs.375/- per instruction or equivalent in


other currencies
iv. Duplicate Statement of Account For 6 months

a. PKR Accounts Rs.35/- (inclusive of FED) or equivalent in


other currencies
b eStatement of Account Free

v. Basic Banking Account

a. Per month maximum two deposit Rs.25/- will be charged on each additional
transactions and two checking transactions transaction during the month
are allowed
vi. Providing copy of Cheques:

a. Retrieval of Old Record per Transaction Upto 1 Year Rs.250/-


Upto 3
years
Rs.500/Over
3 Years
Rs.750/-
b. Duplicate Advice older than 1 year Rs.60/- per advice

c. Photocopy charges other than CNIC Rs.5/- per copy

vii. Cheque drawn on us and returned unpaid Rs. 625/- or any amount less then Rs.625/-
for insufficient funds available in the account to be recovered
from drawer's account in Clearing, Transfer
Delivery, Same Day Clearing, Intercity
Clearing & Inward Collection (IBC).
viii. Reminder Letter OR return cheque dispatch Rs. 100/-
on a/c of outward retuned cheques
ix. Hold Mail Instruction Charges Rs.1,000/- per annum (in advance, only for
existing hold mail customers)
x. Confirmation of balance to auditors Rs.300/- per certificate

xi. Any type of certificate issued at the request Rs.300/- per certificate
of customer excluding Zakat and
withholding Tax Deduction certificate
xii. Account Maintenance / Service Charges for
not maintaining requisite balance as
defined below for all products:
xiii. FBR Taxes or Duties Collection over the Rs.50/- per transaction
counter
a. * Soneri Current Account (if average Rs.50/- per month inclusive of FED
balance for the month is below Rs.5,000/-)
b. * Soneri Ikhtiar Account (if average balance Rs.50/- per month inclusive of FED
for the month is below Rs.25,000/-)
c. BBA Account (initial deposit Rs.1,000/-) No NIL
limit on minimum balance. (SBP BPD
Circular # 30 of 2005, dated November 29,
2005)
d. ** PLS Savings Account (initial deposit NIL
Rs.100/-)
e. Soneri Saving Account (if average balance Rs.50/- per month inclusive of FED
for the month is below Rs 5,000/-)
f. Soneri Sahara Account - Requirement of Nil
Initial deposit and minimum balance
g. Soneri Asaan Account - Current / Saving NIL
(initial deposit Rs.100/-)
FCY Current Account (if average balance for Rs: 50/- equivalent to the account currency
h. the month is below USD 100 or equivalent
in the account currencies)
i. FCY Saving Account (if average balance for NIL
the month is below USD 100 and or
equivalent in other currencies)
* No minimum balance required to avail free services.

** Initial amount for opening of regular PLS Savings account will be Rs.100/-, however, no
initial deposit would be required for opening of account by (i) Mustahkeen of Zakat, (ii)
Students, (iii) Employees of Government or Semi Government institutions for salary and
pension purposes (including widows/children of deceased employees eligible for family
pension/benevolent fund grant, etc.) and similar types of accounts. (SBP BPRD Circular #
7 of 2011, dated May 27, 2011.
xiv. Any out of pocket expenses or any Actual
transaction not covered under this SOC
J STAFF SALARY ACCOUNTS

Following facilities are available FREE to


Staffs of Soneri Bank
a. Cheque Books issuance FREE

b. VISA Debit Card - Annual Fee FREE

c. Soneri Debit Master Card - Annual Fee FREE


d. Soneri Debit Mastercard - Chip FREE
Maintenance Fee
e. Banker's cheque issuance FREE

f. Online Banking Service FREE

g. SMS Alert Facility FREE

h Locker Rent 50% will be waived

CASH MANAGEMENT SERVICES - CORPORATE & INVESTMENT BANKING


SONERI TRANSACT

A Payment and Reporting As per arrangement/Agreement with the


customer
B Collections / Receivable Management As per arrangement/Agreement with the
Services customer
C Banker to the Issue As per specific arrangement/Agreement

D Dividend Warrants Payout As per specific arrangement/Agreement


with the customer
E Standing Instructions As per specific arrangement/Agreement
with the customer
Note:
• Fees / Charges / Pricing for Cash Management services offered to customers will be decided
on a case-to-case basis, depending on the overall scope of services, transaction volume, account
balances in accordance with mutual consent with the customer.
• Any additional service not mentioned above will be decided in accordance with the mutual
consent of the customer.
Note:
a. All such collection accounts i.e. non-chequing accounts from where the balances/funds as
per standing instructions, are transferred to customer's main collection a/c whether daily or on
periodical basis, shall be exempted from levy of these service charges.
b. Accounts maintained by (i) Students, (ii) Mustahqeem of Zakat; and (iii) employees of
Government/Semi-Government Institutions for salary and pension purposes including
widows/children of deceased employees eligible for family pension/benevolent fund grant etc.
shall be exempted from levy of service charges. Also to be waived in case of cooperative societies,
benevolent funds, charitable & welfare organizations. c. No charges are to be recovered from
students depositing the amount of Fees directly in fee collecting account of Educational Institution.
d. Branches are advised that FED is now applicable on all banking services, except for few services.
The FED shall be recovered as per the rates applicable in the respective provinces. For exempted
services & province wise rates.

PLACE

Place plays an important role in tangibilizing service offerings. Quality of service is


perceived by many customers in the form of place of delivery- locational appeal, interiors,
ambience, etc. If a bank is located in a crowded market the place or location will be a
negative tangibilizes. Providing excellent tangibles in the form of place or location and
interiors is particularly important for appealing to the customers segment. More recently,
some of the private banks in Pakistan like Soneri Bank are providing very attractive
tangibles in the form of their locations, exteriors and interiors.
PROMOTION

Promotion can tangibilize services in different forms:

 Visualization
 Association
 Physical representation
 Documentation.

Visualization tangibilizes services through hoardings, TV and print campaigns or


advertisements. Physical representation in services has a good promotional appeal to
customers like use of colors to symbolize wealth and status. Service providers use
documentation in their promotions in support of their claims for dependability, popularity
and responsiveness

PEOPLE

People are a common factor in every service. And people tangibilize services.
Good people (means good performance) make good or successful services. Bad
performers deliver bad services.

PROCESS

 Customer defined business process- Process innovations and continuous


improvement through people involvement.

 Result oriented approach- Each process has been designed by first planning the
desired results.
 Soneri Bank is constantly taking initiatives to offer the best in class service that
seek to enhance customer experience.

PHYSICAL EVIDENCE
 Reduce paper usage- Due to technological innovations such as use of Finacle
software for core banking solutions.
 It has positioned it self as a bank which gives higher standard of services through
product innovation.
 Satisfies the diverse need of individual and corporate clients.
 It is customer centric, and service oriented.

Departments in soneri bank

SBL comprises of the following departments:


 Accounts Department
 Agriculture department
 Remittance
 Cash department
 Credit department
 Import and export
 Foreign trade
 Islamic banking

1. Accounts Department:
Accounts department is the first way of communication and interaction between the bank and
the customers. It is because the bank has to deal with two types of customers. One type
consists of those customers who are called as the walking customers. These are not the
potential customer

2. Cash Department:
Cash department is one of the most critical departments and it encompasses the deposits
of the bank and also of individual branches. The Cash department of Soneri Bank limited works
under the operation department.

This department is given the complete responsibility of cash as a result of transaction in


local and foreign currencies. It is also responsible for the book keeping of these transactions and
the safe custody of cash. This department is one of the most sensitive departments of the bank.

This department performs the main function:


 Cash Receipts
 Cash Payments

Cash receipts

In cash department depositors use deposit slip for depositing the


amount into their accounts. The officer checks if the deposit slip is
properly filled up containing title of account. Account number date and
amount in words and figures. Detail on both counter file and cash
receipt voucher should be the same. Cash is received by cash receiving
officer twice counted and matched with the deposit slip. The cash
details are written on the back of the deposit slip and are also entered
in cash receiving register and the cash received stamp is affixed on the
slip.

Cash payments

Soneri Bank deals with cash payments the process for payments of
cheques local and foreign currency is same. First the cheque is
presented by the customer to cash payment officer. He confirms that it
is drawn on the same branch and the particulars of cheque are properly
filled. One signature of the customer is taken on the back of the cheque.
Cheque is handed over the officer cash department for security where
officer checks the date, amount in figures and words. After proper
checking account is debited and cheque is cancelled by the officer. It is
posted in the system and posting stamp is affixed on it and then cheque
is handed over to the cash payment officer for payment

REMITTANCE DEPARTMENT
Remittance department is basically related to the internal working of
the bank. This department deals with following types of working.

Pay Order
 Online Transfer
 Demand Draft
 ATM
 Debit cards
 Credit cards

In the SBL the Remittance Department is headed by one person who is responsible for
looking after the accounts of the branch and forming pay orders, Demand drafts, Telegraphic
transfer. He has to make sure at everyday that the branch is a balance, in my days there; there
was no one day that they had come across any problem of an unbalance.

1. Pay Order

Pay Order is a transferable instrument made by the bank, on account of a customer, to


pay on order the precise amount to the directed person (payee). It is in the city area .The banks
are not answerable of any theft or any mishandling of the pay orders. Pay Order is always drawn
on the bank that has issued it.

Making of a Pay Orders


When a person requires a Pay Order, he is asked to complete the prescribed application
form in which the amount of pay order is to be stated. Certain amount of commission and advance
tax is charged on issuance of pay order. After having the total amount deposited in the bank (in
cash or through cheque, in case of account holder), pay order is issued in favor of the payee.
Like cheques, when pay orders issued by Soneri Bank Limited, are presented in other
banks to get them deposited in the payee’s accounts, they comprise the outward clearing for
those banks and inward clearing for Soneri Bank Limited.

2. Online Transfer

One branch may send cash to another branch straightforwardly, with of course, the
permission of the head office. The usual process in such a case is that the head office in its books
should debit the receiving branch and credit the sending branch. But in the books of the head
office it views. The transactions as returning the cash to the head office and subsequently sending
cash to another branch.

3. Demand Draft (DD)

Demand drafts are used for the transfer of the money between the cities.

“A Demand Draft is a transferable instrument issued by the bank, on account of a person,


and drawn on its own branch in a precise city or on the branch of a different bank in that city (in
case bank doesn’t have any branch there), demanding it to pay the specified amount to the person
named on it”.

Demand Drafts are used to make outstation payments or to transfer money, out of the city.
Hence, a Demand Draft is always made for a detailed city.

Making of a Demand Draft


Assume a customer requests to provide him a Demand Draft made on his account for a
particular city like Karachi. Then, after having the total amount (together with commission and
advance tax) to be deposited with application form, demand draft is issued in favor of the specified
person in Karachi (hypothetical) and is drawn on SBP Limited, Karachi Branch. So, when this
demand draft is presented by payee in any bank, it constitutes the inward clearing of Soneri Bank
Pakistan Limited, Karachi Branch.

4. ATM

Soneri Banking Card offers convenient and 24-Hours-a-day, 365 days a year access to
ATMs across the country. When traveling within Pakistan, use the Card at Soneri Bank’s own
network of ATMs and hundreds of ATMs displaying either the 1-link or M-Net symbols.

5. Debit Cards

Soneri debit Card /Banking Card may also be used to pay for purchase / Services
made / availed from Merchants Outlets displaying ORIX logo. Soneri Debit Card does not
involve any repayments, interest charges or monthly billing, as you are using customer’s
own funds in customer’s account.

Working of Remittance Department

All these methods work on same principle. This method involves debiting main Soneri
account and then crediting client’s accounts. Changes are in form of symmetry or order of the
operation. For instance TT is used to transfer money electronically but it has been replaced by
online transfer on money. It has two types:

Advice and pay


In this method the customer is eligible to get the counter payment as soon as he/she gets
the instrument i.e. DD/PO etc.

Advice and credit

In this method the customer is not eligible to get the counter payment instead the amount
of instrument is directly credited to his/her account.

Clearing department is incomplete if IBC and OBC clearing schedules are not mentioned.
These to schedules are inter-bank and intra-bank procedures which are performed on daily basis.
The detail is given below:

Outward Bills for Collection


When an instrument is drawn on a bank, which is located outside the city, its proceeds
can be collected through a mechanism called Outward Bills for Collection (OBC).

Procedure:

All the cheques are received on one counter along with the paying slips duly filled
in properly containing particulars of cheques and account holder. Counter folio of paying
slip is handed over to the customer by putting stamp for “cheque received for collection
for Soneri Bank” on it duly signed by officer. These cheques are scrutinized and cheques
for local clearing are separated from OBCs. Cheques for local clearing are entered in
Clearing Register, whereas cheques for collection are entered in OBC register. OBC
number is allotted to the cheque from OBC register. Special crossing and bank
endorsement stamps are affixed on the cheque.

Inward Bills for Collection


If any other bank sends a cheque of Soneri Bank Limited, it is Inward Bill for
Collection. Soneri Bank remits money after checking the balance of the customer
account. The process of collection starts when the cheques of Soneri Bank Ltd are
received from other banks. Then these cheques are sent to the Head Office Karachi,
which sends the cheques to SBP for clearing and get the confirmation of cheque and
credit advice. Main activity of clearing is performed by Head Office, which contacts other
banks through SBP.

3. Agriculture Department:

Agriculture department is a relatively new department and its goal is to provide


facility to medium sized formers to cultivate their lands and to play their parts in the
betterment of the country. Following agriculture finance facilities are provided by Soneri
Bank Limited at its selected branches:

Production Loans:

Production loans are offered to meet the input and other working capital
requirements for farming, orchards and nursery, tunnel farming, storage of raw material,
transportation marketing grading and packing etc., by farmers.

Development Loans:

Development loans are offered for the purchase of tractors, trolley, thrashers, ploughs,
cultivators, laser levellers, combine harvesters, processing machinery, transport for delivery of
dairy, poultry, fisheries. Installation of tube-wells, turbine, land levelling, soil improvement, land
reclamation, seed processing units and for godowns, silos and cold storages.

Livestock:
To meet the fixed cost and working capital requirements for cattle farming, cattle
feed units, dairy farming, poultry farming; poultry feed units and fish farming.

Repayment Period:

Principal amount of Finance plus mark-up thereon is repayable depending upon


nature of business ranging from one to five years. Revolving facility is also available under
specific terms.

Mark-up Rate:

 All Type of Agriculture Loans upto Rs. 100,000/- : 6M Kibor + 2%


 Production Loan under Revolving Credit Scheme: 6M Kibor + 3%
 Working Capital for Live Stock 6M Kibor +3.5%
 Development Loan (All kinds) : 6M Kibor + 4%

4. Credit Department:
Over the recent years credit department of any bank has got a vital importance primarily
because of the car finance. It is a philosophy in banks that more the credit goes to the customers
more will be the credibility of the bank in front of the customers, condition being applied that the
financing gets along smoothly. The credit department has two types of financing.

 Consumer Financing
 Commercial Financing

Consumer financing also comprises of following types of financing.

 SONERI CAR FINANCE


 SONERI GHAR FINANCE
 SONERI PERSONAL FINANCE

Commercial financing consists of

 Small and Medium enterprises

There are two main divisions of Credit division:

 Consumer Financing
 Commercial Financing

Consumer Financing:

Consumer financing has further three constituents:

 Soneri Car Finance


 Soneri Ghar Finance
 Soneri Personal Finance
 Soneri Generator Finance

1. Soneri Car Finance

Purchase of brand new car:

 Un-registered cars for private use.


 Un-registered light commercial vehicles for private use.
Eligible Borrowers

Salaried Persons, Self Employed Professionals, Business Persons

Financing Amount

 For Cars upto 2000 CC: Rs. 1.0 Million


 For Cars exceeding 2000 CC: Rs. 2.0 Million

2. Soneri Ghar Finance

Purpose

 Purchase / Construction of Property for self-occupancy.


 Extension / Renovation on self occupied residential Property.

Product Categories

 Purchase of pre-constructed Residential Property.


 Construction of residential property on self owned plot of land.
 Extension / Renovation on self owned & occupied property.
 Balance Transfer Facility (BTF) for any of the above finance.

Eligible Borrowers

Salaried Persons, Self Employed Professionals, Business Persons

Financing Amount
 Purchase Rs.Up to 10 Million
 Construction Rs.Up to 10 Million
 Extension / Renovation Rs.Up to 03 Million
 Balance Transfer Facility Rs.Up to 10 Million

3. Soneri Personal Finance

Purpose of Finance

 To meet medical expenses for self or dependants of applicants.


 To meet educational expenses of applicants children.
 To meet travel expenses for self and family members. (e.t.c)

rs of the bank. They just walk in casually to grab some information or to pay utility bills.

5. Import and Export Department:


Import and export department is closely tied with the foreign trade department. Basically
it is an extension of the foreign trade department and whatever the bank has to offer in the foreign
trade department is carried out through the import and export department. The import and export
department works with the provision of following types of services.

 Advance payment
 D/A or on credit
 Cash against documents
6. Foreign Trade Department:
Specifically the FTD exists as a liaison between exporter and importer. It issues LC’s
comprising of guarantees, issuance of documents including airway bills, bills of lading, E-Forms,
exchange rates etc.

L.C commonly known as letter of credit or also documentary credit. In most of the cases
L.C is maintained for exports.

The basic purpose of an L.C is to issue sort of a guarantee on behalf of an importer. Like
if an importer asks for a shipment for which he or she intends to pay late or on credit then obviously
the exporter needs some sort of guarantee that the importer will really give back his or her money
as promised. Here the banks play their role.

The bank which opens the L.C is usually on the importer’s end giving a guarantee to the
exporter’s bank that in case the importer fails to pay the payment in the due time then the opening
bank will pay on his or her behalf. For opening an L.C there are certain requirements which the
banks take care of.

These are:-

 Invoices
 Bill of lading or airway bill
 Packing list
 Inspection certification
 Insurance cover Notification
Then it might also be the case that the opening bank which is opening the L.C on the
behalf of the importer does not maintain a sound image in the banking environment or it operates
in an environment that is unstable like in a war inflicted country that its worthiness can be doubted.
So in such type of cases the banks acting on behalf of the exporter may ask to indulge an advisory
bank or negotiating bank which is willing to give a guarantee on behalf of the opening bank.
7. Islamic Banking:
Islamic Banking is an emerging field in Pakistan and is gaining sound reputation
simultaneously with advance banking. In contrast to the traditional banking it is based solely on
Shariah. Soneri Bank offers four different types of services in Islamic Banking.

 SONERI JARI ACCOUNT (CURRENT A/C)

 SONERI BACHAT ACCOUNT (SAVINGS A/C)

 SONERI MUNAFA ACCOUNT (SAVING A/C)

 SONERI MEAADI ACCOUNT (TERM DEPOSITS)


KEY FINANCIAL HIGHLIGHTS

TOTAL ASSETS : Rs.382.50 BILLION

SHAREHOLDERS’ EQUITY : Rs.17.99 BILLION

CAPITAL ADEQUACY RATIO : 14.70%

PROFIT BEFORE TAXATION : Rs.2.90 BILLION

EARNINGS PER SHARE : Rs.1.62 BILLION

DEPOSITS : Rs.262.38 BILLION

ADVANCES TO DEPOSIT RATIO : 74.26%

TRADE VOLUMES : Rs.367.16 BILLION

Customer

Issue check
Request book

Send letter of
thanks
Documents
Account
Establish identity
opened and authority
Deposit cash
Process
documents

Request for check


book Meet customer

TYPES OF ACCOUNT OPENING FORM


There are types of account opening form
For single, sole proprietorship & joint personal
For partnership, limited Company, trust, clubs etc.
BASIC REQIRMENTS FOR OPENING AN ACCOUNT
FOR SINGLE, SOLE PROPRIETORSHIP & JOINT PERSONAL
CNIC photocopy.
Verisys
Introducer must have an account in the same branch.
KYC.
NTN certificate (for Sole Proprietorship)
World Check.
Letter Head in case of sole proprietorship

FOR PARTNERSHIP, LIMITED COMPANY, TRUST, CLUBS ETC


FOR PARTNERSHIP
Attested photocopy of CNIC of all partners
Attested photocopy of partnership deed duly signed by all partners.
Attested photocopy of registration of firm with registrar of firms. In case of partnership
unregistered the fact should be mention in account opening form.
Authority letter, in original, in favor of the person authorized to operate on the account
of the firm.
KYC.
NTN certificate
World Check.

CLEARING
In clearing some important terminologies come, these are given below. and this is second most
important part of general banking.
Types of clearing
IBDA
NIFT
Standing Instruction
Daily Fund Transferring
. TYPES OF CLEARING
There are three types of clearing.
Normal clearing
Special clearing
Intercity clearing

NORMAL CLEARING
Normal clearing is further divided into two types.

Internal cheque
External cheque
Internal Cheques:
Internal cheques are given by the customer of the same branch. The clearing Department check
the status of the account if the status of account would be OK, then they credited the account
of the second party and Debited the account of their customer.
External Cheques:
External cheque comes from different bank to Soneri bank but from the same city. These
cheques are delivered by NIFT, clearing department checks the status of the account. If the
status of the account is ok, then they pass the transaction. In case of not they return the
cheque to NIFT.
STANDING INSTRUCTION
Standing instructions are given by the customer to the banker.
In this cash will be transfer to second party’s account according to the instruction given by the
customer.
Example
If Customer instructs the bank if his children fee voucher comes, bank has authority to take
these vouchers and pass the transaction, or any utility bills of customer etc.
DAILY FUND TRANSFERRING
In daily fund transferring the bank transfer the funds to customer’s main account where he
wants.
Example
Uniliver has an account in different cities, like (Karachi, Multan, Lahore, Islamabad, and
Faisalabad) .The Account’s manager of the company instruct the bank that banks should
transfer their fund to their main account in Karachi. So HQ-Soneri Bank instruct their branches
that they should transfer the funds of Uniliver to company’s main account in Karachi.
Inter Bank Debit Adjustment (IBDA)
In IBDA always Head Office has right to debit the account of its branches, if there are some
mutual expenses. So Head office sends IDBA note to its branch that they have debited their
account.
For example
Soneri Malir had sent request for UPS. Soneri Head Quarter has purchased the UPS on
the behalf of Malir branch, and debited the account of Malir Branch with that amount.
REALIZATION AND UN-REALIZATION
There are three steps in realization of cheque in clearing.

Shadow
Realized
Unrealized
SHADOW: It just a record till the cheque is not clear.
REALIZED: Bank realized entry when it received a notice of clearing from other bank.
UNREALIZED: In case if cheque is not clear, then we unrealized the cheque and removed from
the shadow.

PRODUCTS AND SERVICES

Soneri bank limited strives to be the most vibrant range of products and services to exceed our
customer’s expectations. Our commitment to the customers is to leverage our brand promise
‘Roshan Har Qadam’ by constantly innovating our products suite to best match the personal
and business needs of our customers, including Commercial, Retail & Corporate and Islamic
segments. With our corporate vision ‘To better serve the customers to help them and the
society grow’, and our mission ‘To provide innovative and ecient financial solutions to our
customers’ we serve them with excellent solutions and constantly raise our performance
standards.

Current Accounts
Customers can open any current account for their transactional needs and enjoy banking
convenience offered via over 290 branches and a growing network of 300+ ATMs across the
country. Our current accounts include:

Soneri Ikhtiar Account

Soneri Ikhtiar is the flagship current account which is ideally suited for businesses in search of a
convenient and feature-rich bank account to fulfil their daily banking needs. This account offers
numerous free facilities, including: Banker’s Cheque Issuance, Online Banking, Cheque Books,
Standard Master Debit Card and much more. In addition, Soneri Ikhtiar Account offers free
Worldwide Accidental Insurance and ATM Withdrawal Coverage to help protect customers and
their loved ones.

Soneri Current Account

Soneri Current Account lets our customers enjoy a host of free banking services with no
restriction on the number of transactions. It also provides complete peace of mind with free
Worldwide Accidental Insurance and ATM Withdrawal Coverage. Basic Banking Account It is a
non-profit bearing account with no minimum balance requirement. Initial deposit for account
opening is Rs.1,000/-. Unrestricted number of withdrawals from the account through ATMs are
permissible subject to applicable per day withdrawal limit for amounts in force

SONERI PENSION ACCOUNTS


Soneri Bank branch network across Pakistan facilitates in opening of Pensioners
Account. Branches effectively coordinate with various pension disbursing departments to
ensure hassle-free disbursement/credit of pension in the respective pensioner’s account.

Soneri INSTA PAY Payroll Solution

It is an efficient employee payroll solution for companies. The product is a bundled proposition
providing one-stop tailored solution, catering to the specific needs and requirement of the
client and its employees.

Soneri Asaan Account

Soneri Asaan Account offers a simple and convenient way to fulfil all banking needs with
minimum documentation requirement. It is offered in both current and savings account types
and is suitable for self-employed individuals, students, housewives and daily wagers.

SAVINGS ACCOUNTS

Soneri Bank offers a complete range of savings products with attractive returns. These
accounts are designed to cater to the specific needs of individuals, senior citizens and corporate
entities. Our savings product suite includes:

PLS Savings Account


Basic deposit account with no minimum balance requirement. It can be opened with an initial
deposit of just PKR 100/-. The complete range of ADC services is offered on this account,
including: Standard Master Debit Card, Internet/Mobile Banking, Online Banking and SMS
Alerts.

Soneri Savings Account

Flexible and fast growing cumulative monthly profit account. The rate of profit on this account
increases with the account balance as per the defined tiers. The complete range of ADC services
is offered on this account. Soneri Sahara Account A savings account for senior citizens to meet
their basic banking needs. The account can be opened singly or jointly (husband & wife)
provided either of them is 60 years of age or above. Our customers can enjoy high returns on
their savings every month with the flexibility of withdrawing profits anytime. Soneri Rupee
Term Deposits Soneri Term Deposits are for customers who intend to retain their savings for a
fixed period and earn a higher rate of profit. Term Deposits allow customers to save a fixed
amount in Rupees for a set period ranging from 1 month to 3 years at attractive profit rates.
The depositor has the option to reinvest the deposit automatically with or without profit.

SONERI RUPEE TERM DEPOSITS

Soneri Diamond Deposits (Monthly Income Scheme) Soneri Diamond Deposits provide
investment opportunities to customers looking for additional monthly income with an
attractive return. Customers will earn monthly profit on their investment for a period ranging
from 1 to 3 years.

Soneri Roshan Munafa


Soneri Roshan Munafa is a term deposit targeted towards Medium to High Net Worth
individuals, senior citizens, housewives and commercial and corporate entities looking for high
returns to meet their financial needs. This is a 1 year term deposit which can be booked with a
minimum amount of Rs. 50,000/- and a maximum amount of Rs.100,000,000/-. The rate
currently being offered on this product will be periodically updated as per the interest rate
scenario. This product also offers financing facility of up to 80 percent of the deposit account.

FCY Term Deposits

Soneri Bank’s Foreign Currency Term Deposit offers competitive profit rates for any selected
term of up to 1 year. It is an ideal investment to help customers save in foreign currency and
see their deposit grow over time.

Foreign Account Services :

Soneri Foreign Currency Accounts Dealing in foreign currencies is no more a hassle. Soneri Bank
offers FCY Current, Savings and Term Deposit accounts to cater to the foreign currency
transactional and saving needs of the customers with a host of attractive

SPEED FINANCE
Soneri Speed Finance Soneri Speed Finance is focused towards providing quick and flexible
financing solutions to its customers while keeping their savings secure. This product is offered
to Individuals, Small & Medium Enterprises, commercial and corporate businesses for meeting
their business needs. It has been designed to provide hassle-free and swift financing solutions
to meet both the short and long term financing needs of the customer. It is primarily secured
against liquid security including Soneri Bank’s deposits (LCY & FCY Term Deposits, Cash Margin,
Lien on Account) and Government Securities (DSC/SSC/RIC).
Prime Minister Youth Business Loan (PMYBL) Scheme

The Government has introduced Prime Minister’s Youth Business Loan Scheme with a mark-up
subsidy and partial guarantee facility for extension of small business loans. The scheme was
launched by the Prime Minister for promoting youth entrepreneurship in the country. The main
objective of the PMYBL Scheme is to provide loans to the unemployed youth for establishing or
extending business enterprises.

CONSUMER FINANCE:

Soneri Car Finance Now you can become the owner of a brand new car through Soneri Car
Finance Scheme. Soneri Bank offers Car Finance facility up to Rs.3 million, repayable up to 5
years in equal monthly instalments. Option of used and reconditioned cars is also available.
Processing of application is fast and hassle-free with partial payment and early settlement

Soneri Personal Finance

An easy solution to your cash needs – now you can turn your dreams into reality via Soneri
Personal Finance Scheme. Soneri Bank offers Personal Finance up to Rs.500,000/-, repayable up
to 5 years in equal monthly instalments to meet personal financial needs. Option of partial
payment and early payment also available.

AGRICULTURE FINANCING

Agriculture contributes a handsome share in GDP of our country & livelihood of a large number
of rural population is based on this. Soneri Bank offers various Agriculture Financing Products –
conventional as well as Islamic for the Farming/Rural communities to meet their working
capital/development needs. All these products help them grow their agriculture produce & livelihood.
Following Agriculture Financing Products are available for the uplifting of Agri Economy: · Farm
Production Loans – Revolving Credit · Farm Development Loans · Tractor & Implements Loans · Non-
Farm Working Capital Loan – Dairy Farming · Non-Farm Development Loan – Dairy Farming · Non-Farm
Working Capital Loan – Poultry Farming · Non-Farm Development Loan – Poultry Farming · Non-Farm
Working Capital Loan – Fish Farming · Non-Farm Development Loan – Fish Farming · Non-Farm Working
Capital Loan – Cattle Farming · Non-Farm Development Loan – Cattle Farming · Value Chain – Contract
Farmers Financing · Mustaqeem Tractor loans · Ijarah

ALTERNATE DELIVERY CHANNEL

ATMs

With a growing network of 300+ ATMs across the country, our customers can conveniently
withdraw cash and avail ancillary services through our ATMs.

Soneri Debit Card

Shop and pay conveniently throughout more than 25 Million merchants and more than 1
Million ATMs for Cash Withdrawal Facility all around the world.

SMS Alerts

Our customers can now get SMS Alerts on their Financial Transactions, and can also get an early
intimation of any unauthorised transaction to safeguard their hard earned money.

Phone Banking

Customers can meticulously access their accounts 24/7 with distinctive services using Soneri
Phone Banking, including ATM Debit Card Replacement, Stop Cheque Request, Banker’s
Cheque, ATM Debit Card Account Linking/De-Linking, Cheque Book request, E-Statement &
Account Statement request. Simply dialling +92-21-111-SONERI (766374) can give a lot of ease
to customers and will help fulfill their financial needs with just a call.

Internet Banking

Real Time Balances, Account Statements, Funds Transfers, Utility Bills Payments and many
more. Mobile Banking Mobile Banking services are there so that our customers can have access
to their accounts anytime and anywhere via mobile phones. Our customers can view account
statements, perform funds transfer, get mobile top-ups and can also pay their bills

Sunehra Saver & Sunehra Saver Takaful

These are Soneri Bank’s Bancassurance plans that encourage our customers to save at
an early stage of their career to cater to their midlife family expenses. It is an affordable plan
for young executives, entrepreneurs, middle aged professionals, working ladies and
housewives. The plan is designed to meet the future financial needs like, wedding, education,
house purchase, starting a business or expansion of an existing enterprise of the assured.

Roshan Aghaz & Roshan Aghaz Takaful

These Bancassurance plans encourage parents to save money for their child’s higher education
and provide protection in case of an eventuality. In the unfortunate event of death of the
assured parent during the savings term, the built-in ‘Education Continuation’ benefit ensures
that the targeted fund at maturity is achieved.
Roshan Takmeel

This is a savings plan especially designed for those individuals who wish to have financial
independence post-retirement, wish to retire early or to top-up their existing pension plan. The
plan is ideal for self-employed and professionals like doctors, dentists, architects, lawyers,
engineers and financial consultants. It is also suitable for employees having benefits of
provident funds

Karobar Muhafiz

This Bancassurance plan covers the lives of two individuals (or business partners)
simultaneously allowing business continuation/succession in case of eventuality. It includes
benefits like hospitalisation, critical illness, accidental disability and death benefits. SMEs, large
enterprises and partnerships can avail this plan to ensure stability of their businesses.
Professional practitioners like doctors, dentists, accountants, lawyers, architects, engineers etc.
can also use this plan to their advantage.

Pearl & Pearl Takaful

This Bancassurance plan is designed for High Net Worth (HNW) customers of Soneri Bank, it
offers higher investment returns along with the benefit of family’s financial protection
(insurance coverage). A unique medical coverage (MediPal) is offered besides loyalty bonus that
starts from the fifth year.

Sunehra Cash Builder


This is a regular premium Bancassurance product where the premium paid will be credited to
customer’s individual account to be invested as per the chosen investment strategy. Sunehra
Cash Builder is intended for far sighted individuals who want a secure future for themselves and
their loved ones at the same time reaping benefits on their hard earned incomes. This plan
ensures that our customers achieve their respective goals even when our customers are unable
to continue their regular income.

Sunehra Income Builder

This plan provides insurance cover in the form of guaranteed sum assured offering parallel
returns on premium investment. Be it an objective of saving for your child’s education,
marriage of your progeny, building/buying a home for yourself and your family, or
starting/expansion of business, Sunehra Income Builder plan is a one stop solution for all our
customer’s financial needs.

Sunehra Ehad Takaful

This plan offers a unique combination of savings, investment & protection. It provides Takaful
coverage that is in line with Shari’ah Principles. Sunehra Ehad enables customers to build
income for events like child education, daughter’s marriage, building/renovation of house or
planning for carefree life after retirement.

Capital Plus & Capital Plus Takaful

This plan is designed for High Net Worth (HNW) customers of Soneri Bank, it offers higher
investment returns along with benefit of family’s financial protection (insurance coverage).
Loyalty bonus starts from the fifth year (commonly starts from the 10th year.)
ISLAMIC BANKING SERVICES

Current accounts

Soneri Jari Account

Jari Account is a kind of Current Account (No profit and Loss account) that provides the
convenience of putting money in account and accessing it without any restrictions on
withdrawal while enjoying a host of professional conveniences from our bank. This account is
based on the Islamic principle of Qardh

Rahat Mustaqeem Account

Soneri Mustaqeem – Rahat Account is a flagship remunerative-current account on the basis of


Mudarabah which is ideally suited for businesses in search of a convenient and feature-rich
bank account to fulfil their daily banking needs. This account offers numerous free facilties.

SAVING ACCOUNTS

Soneri Mustaqeem - Bachat Account

Bachat account is a kind of remunerative account offered to Customers with small savings and
looking for a Halal return on their deposits. It is based on the concept of Mudarabah where the
depositor acts as an Investor (Rab-ul-Maal) and bank acts as the Manager (Mudarib) of the
funds deposited by the customers. It also offers wide range of services that cater to the banking
needs of our customers.
Soneri Mustaqeem - Munafa Account

Soneri Mustaqeem - Munafa Account provides a regular stream of monthly income with same
convenience and service of a regular savings account. Through this, our valued customers can
manage their short-term as well as long term savings without any transactional restrictions.

Soneri Mustaqeem - Meaadi Account

Soneri Mustaqeem - Meaadi Account is an alternative of TDR for those customers who intend
to retain their savings for a fixed period and earn a higher rate of profit. Term Deposits allow
customers to save a fixed amount in Rupees for a set period ranging from 1 month to 3 years at
attractive profit rates. The depositor has the option to reinvest the deposit automatically with
or without profit.

CORPORATE AND INVESTMENT BANKING

Working Capital & Trade Finance Facilities

Our corporate banking team is equipped with the required knowledge to contribute towards
the sustainable growth of our clients by offering innovative, diverse and flexible solutions to
meet their working capital needs, trade related solutions and expansion support.

Supply Chain Management


Being a provider of financial services, we offer end-to-end supply chain financing solutions to
dealers & vendors of our corporate customers to meet their business requirements.

Cash Management

Soneri Bank’s Cash Management services coupled with our next generation, web-based Cash
Management System ‘Soneri Trans@ct’, provides our valued customers with comprehensive,
one stop solution for cash flow management, i.e. Receivables and Payables Management, in the
most effective and efficient manner

CHINA DESK

The bank is also focused on CPEC projects. In addition to a Chinese Business Unit in Islamabad,
the bank is going to establish an another unit in Karachi and one in Lahore. These units cater to
the banking requirements of Chinese customers by providing tailor-made solutions under one
roof.

LOCKER SERVICE OF SONERI BANK


Soneri Bank’s lockers safeguard clients’ valuables to assure their peace of mind and
confidence. A locker of the size of applicant’s choice shall be allotted subject to its
availability. Bank’s prescribed License Agreement on Stamped Paper to rent the locker is
required to be submitted by the applicant, with cost thereof payable by the applicant.

Lockers are available for all account holders with single as well as joint operations
instructions.

Locker Sizes and Fee


Locker fee is recovered in advance at the time the locker facility is issued to the account
holder. Fee for the subsequent year shall be automatically debited to the locker holder’s
account on its next renewal date.

Size Rent No rent against key deposit

Small Rs. 2,500/- Rs. 30,000/-

Medium Rs. 3,750/- Rs. 45,000/-

Large Rs. 6,250/- Rs. 60,000/-

Key Deposit Rs. 2,500/-

The Key Deposit is refundable when the locker is surrendered. In case the key of the locker
is lost, the key deposit shall be forfeited.

Late Payment Charges Rs. 100/- per month

It is the sole responsibility of locker holder to make available sufficient balance in the
account for recovery of annual rent. Where locker holder’s account reflects insufficient
balance on the due dates of locker fees/rent, operation on the locker shall be allowed once
the outstanding fee/rent has been paid. In the event of persistent default in payment of
locker fee/rent, the bank reserves the right to break open the locker as per the terms and
conditions governing renting of lockers.

Locker Breaking Charges Rs. 5,000/- or actual per locker, whichever is higher

Loss of locker key must be reported in writing by the locker holder requesting to change
the lock by breaking open the locker which is done in the locker holder’s presence. Locker
breaking and replacement charges are borne by the locker holder.
FOREIGN EXCHANGE SERVICES

Soneri Bank Limited (SBL) under guidance of Pakistan Remittance Initiative (PRI) ( a joint
venture of State Bank, Ministry of Finance and Ministry of Overseas Pakistanis, Pakistan),
started Home Remittance Payments Disbursement Initiative in July – 2012).

SONERI MEHNAT WASOOL

In a very short span of time and with exceptional customer support and service delivery
standards, Soneri Bank managed to make a positive contribution towards Home Remittance
Business. Soneri Bank has recognized the potential in Home Remittance business and therefore
brands its business with the product name of “Soneri Mehnat Wasool Remittance”. Soneri Bank
has already established the relationships with the following Exchange Companies abroad.

Soneri Mehnat Wasool lets you conveniently receive money sent from MoneyGram (with the
presence of 350,000+ agents across 200 countries and territories), Ria Money Transfer (with the
presence of 243,000+ agents across 134 countries), Al Ansari Exchange / Worldwide Cash
Express Money Transfer ( with more than 100,000 agents across the globe) Wallstreet Finance
(Canada), Golden Money Transfer (USA), Alpine Exchange (USA) and Small World LCC via more
than 285 Soneri Branches nationwide.

FOREIGN TRADE
Soneri Bank provides its customers with a range of products, efficient services and solutions for
international and domestic trade based on SBP’s defined regulations, which include:

 Import L/C and Contract Issuance


 Financing against Imports
 Export LC advising
 Negotiation of Export documents
 Handling of Export documents under LC, Collection & advance payment.
 Pre & Post Shipment Financing facilities through SBP’s Refinancing Scheme to exporters
 Pre & Post Shipment Export & Import financing facilities under FE-25 scheme.
Facilitation on account of Export to Afghanistan against surrendering Foreign currency, in terms
of SBP applicable regulations, is available to the customers at the designated branches. In
addition, facilitation on account of WeBOC system to the exporters at the designated branches
is also available.

Foreign Remittances
To facilitate the expatriates who contribute significantly in our economy through vital foreign remittances,
Soneri Bank’s foreign remittance departments provide utmost and expeditious services to attract Foreign
Remittances by remitters. The Bank also provides FX services to its enlisted customers on account of Travel,
Education and Medical Treatment abroad as being allowed under the defined terms of SBP regulations. The
special value-added services to the beneficiaries are also provided under special initiative of PRI
arrangements.

Foreign Currency Accounts

Soneri Bank offers its customers Foreign Currency Accounts in major foreign currencies i.e.
mainly US Dollar, Pound Sterling, Euro, Yen and other major currencies under the defined
regulatory requirements of SBP. This facility provides the following benefits for the customers:

 Foreign currency deposit facility in major currencies.


 Foreign currency cash withdrawal up to the extent of available balance.
 Roll-over of foreign currency fixed deposit facility.
 Profit accrued on daily basis on foreign currency saving accounts.
 Foreign currency demand drafts.
 Foreign currency accounts with facilitation of foreign remittances as per laid down SBP
regulations.
COMPLAINT HANDLING

The Bank has a separate function to deal with customer complaints, named as
Complaint Management Unit (CMU). This function accommodates complaints received through
any source of communication channel including regulators

CSR INITIATIVES

To ensure the spirit of its brand promise of ‘Roshan Har Qadam’ Soneri Bank has aimed to
enrich the society in all walk of lives. In 2016, our CSR activities embodied principle of inclusiveness for
the betterment of fellow beings in the field of education, healthcare, community, arts and culture,
women empowerment, environment, sports and rehabilitation.

Soneri Bank has generously contributed in healthcare organizations, to serve the purpose of
humanity.

The Kidney Centre (TKC)

The Kidney Centre (TKC) a non-profit organization provides comprehensive quality renal care to
patients suffering from kidney problems. Soneri Bank took the opportunity to support one of its
fund raising events of the year.

Lady Dufferin Hospital

Lady Dufferin Pakistan’s largest and well known women hospital provides quality healthcare to
all socioeconomic groups at subsidized rates. To improve the healthcare facilities of the
organization, Soneri Bank extended its support by sponsoring its annual fund raising event for
society’s prosperity.
Fatimid Foundation

Fatimid Foundation a non-profit organization provides free blood/blood components to


patients suffering from various chronic blood disorders requiring blood/blood component
therapy as an essential part of their treatment. To support the cause Soneri Bank co-sponsored
the seminar for International Thalassaemia Day.

Patient’s Aid Foundation

Patient’s Aid Foundation a charity based organization committed to provide a free quality
healthcare to all. In collaboration with JPMC (Jinnah Postgraduate Medical Centre) various
patient related activities have been accomplished which includes reconstructing and renovating
buildings, reinstating crucial equipment, and providing free medicine and laboratory tests. PAF
also brought CyberKnife technology in Pakistan that treats cancer. Soneri Bank pledge the cause
by sponsoring its annual fund raising event.

Installation of RO Water Plant for Public Use

The need of clean water is a necessity for every human being, thus, to support this noble cause,
Soneri Bank installed a RO water plant in a village called Nathuwala Chak, Tehsil Shahkot,
District Nankana Sahib to provide clean drinking water for the villagers

Promoting Arts and Culture

Gallery 6, Islamabad

Gallery 6, Islamabad a well-known Art Gallery, promotes and awards young Pakistani artists
with “Arjumand Painting Award”. The objective is to highlight the importance of classical
painting and generate interest in classical art. Soneri Bank supported the cause to revive the
culture of classical arts.
SIACHEN – A Pakistani Theatrical Masterpiece

Siachen has been one of the most popular patriotic play staged over a hundred shows in the
country. As part of its Employee Engagement Drive 2016, Soneri Bank reserved three
consecutive staff shows that received a heartening response.

Mauseeqar-e-Azam Memorial Society

Soneri bank packaged and sponsored Pakistani classic music arranged by Mauseeqar-e-Azam
Memorial Society, a Lahore based music academy to pay tribute to late “Master Ghulam
Haider” to preserve the classical music of the sub-continent.

Empowering Education

With the focus in the field of education, Soneri Bank has generously supported and promoted
various educational organizations for its development.

Aga Khan Education Services, Pakistan

The Aga Khan Education Service, Pakistan is amongst the largest private network of education
institutions in Pakistan. The institutions working under AKESP works to eradicate illiteracy.
Soneri Bank has sponsored several educational programmes for the enhancement and
improvement of education.

The Citizens Foundation

The Citizens Foundation (TCF) a non-profit organization brings positive social change through
education. It is one of Pakistan’s leading organizations in the field of education for the less
privileged. To support TCF’s cause of improving the literacy rate of Pakistan, Soneri Bank
sponsored basic education of 3 children for 11 years i.e. (Kindergarten to Matric)

Institute of Business Administration, Karachi

Institute of Business Administration (IBA) is the oldest educational institution in Karachi. IBA has
maintained its position as the premier Institution of higher learning in the field of Management
and Business Administration. Soneri Bank widened it support by partially sponsoring in a CPEC
Business Conference in order to create awareness for China-Pakistan Economic Corridor (CPEC)
Program among public/ private sector investors, policy makers, government officials and
others.

Family Education Services Foundation

Family Educational Services Foundation (FESF) a non-profit educational organization active in


Pakistan since 1984. FESF is dedicated to enhance the quality of life for all members of the
community, especially those who are disadvantaged. Soneri Bank supported generously in their
educational development training programs in order to empower the needy ones to reach to
their full potential.

Citizen Archive of Pakistan (CAP)

CAP a non-profit organization dedicated to cultural and historic preservation, aims at educating
the community and creates quality awareness about our nation’s history. To support CAP in
achieving its mission to build and support educational programmes and develop educational
product-based testimonies, Soneri Bank supported the cause by providing sponsorship for the
fundraiser carnival in 2016.

Rehabilitation Efforts

Saving Thar – Old Associates of Kinnaird Society (OAKS)

Saving Thar is a life-saving project for building the lives and empowering communities in the
drought-prone areas of Tharparkar. Soneri Bank expanded the Village Development Model by
adopting a village of Rohaj Halepoto which caters 157 households. Several activities like ber
grafting, tree plantation, kitchen gardening training, gift goats and providing solar panels for
households are part of the sustainability programme.
NOWPDP

Network of Organizations with People with Disabilities, Pakistan (NOWPDP) raises the
awareness in the society about the rights of persons with disabilities. For this noble cause, the
bank has sponsored 25 Baithaks to the well-being of the disabled.

Rotary Metropolitan Trust

Rotary Metropolitan Trust a non-profit organization working for the development of


community. Their projects are focused in the field of health, basic education and skill
development in Karachi and across Sindh. Soneri Bank extended its support by sponsoring its
annual fundraising event for community development projects.

Environment Care

WWF, Pakistan

WWF is one of the world’s largest and recognized nature conservation organization. For this
noble cause of saving nature and environment, SBL contributed through employee activities
which included beach cleaning, mangrove sapling, transit walk, web yarn and various
environment preservation for the protection and conservation of nature.

Seeding Hope

With the objective to support environment preservation, Soneri Bank metaphorically depicted
the journey of the bank via a ‘Seed Concept’, a harbinger for growth, happiness and celebration
of 25 Years of Silver Jubilee. With the provision of a seed bag as part of the concept and design,
it motivated people to plant a ‘Seed of Hope’ for environmental nurturance.

Women Empowerment

International Women Leaders Summit

Soneri Bank was part of International Women Leaders Summit in 2016. The conference was a
professional forum to collate successful and diversified professional women leaders across the
globe to impart and integrate their experiences at a local forum for an exchange of broader
perspectives and learning.

Attock Sahara Foundation

Attock Sahara Foundation (ASF) welfare based non-profit organization serves the community
since 1966. Its aim is to play a vital role in uplifting the socio-economic conditions of the
surrounding communities through various welfare projects. Soneri Bank supported their
mission by sponsoring an annual fund raising exhibition for this noble cause.

Behbud Association Karachi

Behbud Association Karachi is a well-known NGO conducting the development programmes in


the areas of health, education and women empowerment for many years. By contributing in
their annual fund raising event, Soneri Bank supported their cause of serving humanity.

Promoting Sports

Karachi Golf Club

The Karachi Golf Club is the oldest golf club in Pakistan. To promote and support Golf in Karachi,
Soneri Bank sponsored a Golf Tournament which provided a recreational sports forum for
corporate clientele and staff.

Airmen Golf Club

The Airmen Golf Course is one of the largest golf courses in the country spread over hundreds
of the acres. To promote sports and recreational activities, the Bank has sponsored the Golf
event.

Supporting Golfer

In the spirit of promoting new talent and ambitious people to achieve their dreams, Soneri
Bank has sponsored an inspiring golfer, to represent the Bank in various tournaments
nationwide.
Audit Committee
Constitution:
Mr. Inam Elahi Chairman Mr. Nooruddin Feerasta
Member
Mr. Muhammad Rashid Zahir
Member
Mr. Jamil Hassan Hamdani

Credit Committee
Constitution:
Mr. Nooruddin Feerasta Chairman
Mr. Alauddin Feerasta
Member
Mr. Mohammad Aftab Manzoor Member
Mr. Muhammad Rashid Zahir
Member
Mr. Manzoor Ahmed

Risk Management Committee


Constitution:
Mr. Manzoor Ahmed
Chairman
Mr. Mohammad Aftab Manzoor
Member
Mr. Amin A. Feerasta
Member
Mr. Inam Elahi

Human Resource & Remuneration Committee


Constitution:
Mr. Manzoor Ahmed Chairman
Mr. Inam Elahi
Member
Mr. Jamil Hassan Hamdani

Committee of Independent Directors


Constitution:
Mr. Jamil Hassan Hamdani
Chairman
Mr. Inam Elahi

IT Committee
Constitution:
Mr. Amin A. Feerasta
Chairman
Mr. Manzoor Ahmed
Member

BOARD AND COMMITTEE MEETINGS


SIX YEAR’S FINANCIAL STATEMENT
PER BRANCH PERFORMANCE
MATURITIES OF ASSEST AND LIABILITIES
KEY INTEREST BEARING ASSETS AND LIABILITES
STATEMENT OF VALUE ADDITION
2018 2017 2016 2015 2014 2013

Statement of Financial Position Rs.in Mln % Rs.in Mln % Rs.in Mln % Rs.in Mln % Rs.in Mln % Rs.in Mln %

ASSETS
Cash and balances with treasury banks 26,020 7% 19,431 6% 18,279 6% 16,718 7% 15,776 7% 12,673 7%
Balances with other banks 1,180 0% 1,151 0% 823 0% 1,635 1% 575 0% 707 0%

Lending to financial institutions 3,921 1% 6,503 2% 5,522 2% 3,094 1% 604 0% 2,988 2%

Investment-net 146,646 38% 117,429 36% 117,884 42% 108,846 43% 75,716 35% 46,703 27%

Advances-net 186,475 49% 164,293 51% 125,306 44% 112,002 44% 107,968 50% 97,534 56%

Fixed assets 6,239 2% 6,464 2% 4,936 2% 4,884 2% 4,953 2% 3,657 2%

Intangible assets 454 0% 117 0% 202 0% 73 0% 61 0% 77 0%

Deferred tax assets-net - 0% - 0% - 0% - 0% - 0% 103 0%

Other assets 11,563 3% 9,831 3% 8,853 3% 8,403 3% 10,820 5% 9,430 5%

Total Assets 382,498 100% 325,219 100% 281,805 100% 255,655 100% 216,473 100% 173,872 100%

Liabilities and Equity


Bills payable 3,994 1% 4,895 2% 4,164 1% 3,077 1% 3,063 1% 2,718 2%
Borrowings 81,963 21% 64,584 20% 38,905 14% 39,876 16% 25,825 12% 10,485 6%

Customer deposits 262,379 69% 227,304 70% 209,894 74% 184,847 72% 162,964 75% 140,439 81%

Subordinated debt 6,996 2% 2,998 1% 2,999 1% 3,000 1% - 0% - 0%

Deferred tax liabilities-net 120 0% 936 0% 1,138 0% 1,417 1% 1,420 1% - 0%

Other liabilities 9,057 2% 5,997 2% 6,416 2% 5,246 2% 6,162 3% 6,947 4%

Total Liabilities 364,509 95% 306,714 94% 263,516 94% 237,463 93% 199,434 92% 160,589 92%

Net Assets 17,989 5% 18,505 6% 18,289 6% 18,192 7% 17,039 8% 13,283 8%

Represented by
Share Capital - net of discount 11,025 3% 11,025 3% 11,025 4% 10,023 4% 10,023 5% 10,023 6%
Reserves 2,109 1% 1,753 1% 1,424 1% 1,049 0% 934 0% 618 0%

Surplus on revaluation of assets 543 0% 2,095 1% 2,393 1% 2,856 1% 2,932 1% 832 0%

Un-appropriated profit 4,312 1% 3,632 1% 3,447 1% 4,264 2% 3,150 1% 1,810 1%

17,989 5% 18,505 6% 18,289 6% 18,192 7% 17,039 8% 13,283 8%

Profit & loss account

Mark-up / Return / Non Interest Income

Mark-up / Return / Interest Earned 21,600 87% 18,505 84% 17,524 86% 18,320 85% 16,906 87% 13,639 85%
Fee, Commission and Exchange income 2,694 11% 2,016 9% 1,711 8% 1,926 9% 1,990 10% 1,826 11%

Capital Gain and Dividend Income 519 2% 1,399 6% 1,131 6% 1,284 6% 535 3% 623 4%

Other income 47 0% 41 0% 29 0% 57 0% 35 0% 22 0%
19,466 100% 16,110 100%

Total Income 24,860 100% 21,961 100% 20,395 100% 21,587 100%

Mark-up / Return / Non Interest Expense


Mark-up / Return / Interest Expensed 14,647 59% 12,032 55% 10,815 53% 10,839 50% 10,677 55% 8,977 56%
Non mark-up / interest expenses 7,380 30% 7,003 32% 6,454 32% 6,098 28% 5,744 30% 4,839 30%

(Reversal) / Provisions and write-offs - net (71) -0% 78 0% 49 0% 1,054 5% 603 3% 764 5%

Taxation 1,120 5% 1,188 5% 1,198 6% 1,383 6% 860 4% 493 3%

Total Expenses 23,076 93% 20,301 92% 18,516 91% 19,374 90% 17,884 92% 15,073 94%

Profit after taxation 1,784 7% 1,660 8% 1,879 9% 2,213 10% 1,582 8% 1,037 6%
SIX YEARS’ HORIZONTAL ANALYSIS
STATEMENT OF FINANCIAL
2018 vs 2017 vs 2016 vs 2015 vs 2014 vs 2013 vs
2018 2017 2016 2015 2014 2013
2017 2016 2015 2014 2013 2012
Statement of Financial Position Rs.in Mn % Rs.in Mn % Rs.in Mn % Rs.in Mn % Rs.in Mn % Rs.in Mn %

ASSETS
Cash and balances with treasury banks 26,020 34% 19,431 6% 18,279 9% 16,718 6% 15,776 24% 12,673 10%
Balances with other banks 1,180 3% 1,151 40% 823 -50% 1,635 184% 575 -19% 707 -43%

Lending to financial institutions 3,921 -40% 6,503 18% 5,522 78% 3,094 412% 604 -80% 2,988 166%

Investment-net 146,646 25% 117,429 -0% 117,884 8% 108,846 44% 75,716 62% 46,703 -22%

Advances-net 186,475 14% 164,293 31% 125,306 12% 112,002 4% 107,968 11% 97,534 26%

Fixed assets 6,239 -3% 6,464 31% 4,936 -0% 4,884 -1% 4,953 35% 3,657 -4%

Intangible assets 454 288% 117 -42% 202 177% 73 20% 61 -21% 77 0%

Deferred tax assets-net - 0% - 0% - 0% - 0% - 103 -66%

Other assets 11,563 18% 9,831 11% 8,853 5% 8,403 -22% 10,820 15% 9,430 138%

Total Assets 382,498 18% 325,219 15% 281,805 10% 255,655 18% 216,473 25% 173,872 10%

Liabilities and Equity


Bills payable 3,994 -18% 4,895 18% 4,164 35% 3,077 0% 3,063 13% 2,718 2%
Borrowings 81,963 27% 64,584 66% 38,905 -2% 39,876 54% 25,825 146% 10,485 -49%

Customer deposits 262,379 15% 227,304 8% 209,894 14% 184,847 13% 162,964 16% 140,439 17%

Subordinated debt 6,996 133% 2,998 -0% 2,999 -0% 3,000 0% - 0% - 0%

Deferred tax liabilities-net 120 -87% 936 -18% 1,138 -20% 1,417 -0% 1,420 100% - 0%

Other liabilities 9,057 51% 5,997 -7% 6,416 22% 5,246 -15% 6,162 -11% 6,947 179%

Total Liabilities 364,509 19% 306,714 16% 263,516 11% 237,463 19% 199,434 24% 160,589 10%

Share Capital 11,025 0% 11,025 0% 11,025 10% 10,023 0% 10,023 0% 10,023 11%
Reserves 2,109 20% 1,753 23% 1,424 36% 1,049 12% 934 51% 618 51%

Surplus on revaluation of assets 543 -74% 2,095 -12% 2,393 -16% 2,856 -3% 2,932 252% 832 -13%

Un-appropriated profit 4,312 19% 3,632 5% 3,447 -19% 4,264 35% 3,150 74% 1,810 -7%

Total Equity 17,989 -3% 18,505 1% 18,289 1% 18,192 7% 17,039 28% 13,283 8%
Profit & loss account

Mark-up / Return / Non Interest Income

Mark-up / Return / Interest Earned 21,600 17% 18,505 6% 17,524 -4% 18,320 8% 16,906 24% 13,639 -1%
Fee, Commission and Exchange income 2,694 34% 2,016 18% 1,711 -11% 1,926 -3% 1,990 9% 1,826 53%

Capital Gain and Dividend Income 519 -63% 1,399 24% 1,131 -12% 1,284 140% 535 -14% 623 18%

Other income 47 15% 41 41% 29 -49% 57 63% 35 59% 22 83%

Total Income 24,860 13% 21,961 8% 20,395 -6% 21,587 11% 19,466 21% 16,110 4%

Mark-up / Return / Non Interest Expense


Mark-up / Return / Interest Expensed 14,647 22% 12,032 11% 10,815 -0% 10,839 2% 10,677 19% 8,977 0%
Non mark-up / interest expenses 7,380 5% 7,003 9% 6,454 6% 6,098 6% 5,744 19% 4,839 11%

(Reversal) / Provisions and write-offs - net (71) -191% 78 59% 49 -95% 1,054 75% 603 -21% 764 47%

Taxation 1,120 -6% 1,188 -1% 1,198 -13% 1,383 61% 860 74% 493 -20%

Total Expenses 23,076 14% 20,301 10% 18,516 -4% 19,374 8% 17,884 19% 15,073 4%

Profit after taxation 1,784 7% 1,660 -12% 1,879 -15% 2,213 40% 1,582 53% 1,037 -6%
CASH FLOW STATEMENT
MARKET STATISTICS AND SNBL SHARES
PEST ANALYSIS

Political Analysis

The political factor affects the banking system. Many years back, the banking system was
successful the reason was stability. Today banking field not good because of instability,
and they does not match with the requirements of SBL, And they faces the political crises.

5.2.5.2 Economic Analysis

The population of Pakistan is too much as compared to other countries. This too much
population benefit for the banking line. Soneri bank offers the basic account facility to the
workers.

5.2.5.3 Social Analysis

They related the people’s education. Most of people of Pakistan are uneducated. They
have no any kind of knowledge of saving. So there is a problem.

5.2.5.4 Technological Analysis

Technology is most important element of banking line. This is a strong factor of Soneri
bank, because they provide technological service to the people like online banking and
electronic banking etc.
SWOT ANALYSIS
Strength

 Good business polices

 Unique operation

 Positive import and export policies

 Given good benefit against account

 Knowledgeable and qualified management

 Strong human resource department for recruitment of employees

 Provide training to employee

 Branches in North region and as well as South regions

 Good relation with foreign customers

 ATM facility

 They use own software which name is “SADAT HYDEE”

6.3.2 Weakness

 Lack of proper marketing department

 Financial position is poor

 No strategies against competitors

 Poor service in agriculture

 Poor timing

 No attractive bonuses
 No proper departments

 Poor job satisfaction

 Poor computerized network as foreign bank have

6.3.3 Opportunities

 Opportunity to fight in Islamic banking sector due to growing Islamic banking.

 Playing a important role in country’s trade

 Have a possibility to compete in market through better marketing policies

 ATM networking is the best chance

 They have online banking due to faster growth

 Diversification into retail products

6.3.4 Threats
 Political condition is unstable
 Entry of new banking companies
 Low market share
 I.T based products of foreign banks
 Less payout ratio
Other banks are doing banking in violent way

First Week

5.4.3.1 Accounts Opening

First week of my internship, I was joined the accounts department where I got the
complete knowledge of account opening. Mr. Waseem Toor and Assistant Miss Sadia
who handle the department, they both guide me so much and appreciate my work. It is
most important department. Who want the bank services they must opened their accounts
in bank.

For opening the account they gave the form in which all rules, terms and condition
mention. Account department is first interaction between the bank and customer. Bank
deal with the two types of people

Type A (single, joint and sole)

Type B (partners, limited and club etc)

They provide different types account like Current, PLS, Soneri saving etc.

5.4.3.2 Procedure

For account opening, the bank need photocopy of CNIC and also verified through NADRA
and also copy of any kind of utility bill. After collecting these things from customer the
bank provide the account opening form to customer. Customer fills this form after the
completion of form, all information entered in computer and system automatically given
the customer relation management. They issue cheque book within 3 days. The accounts
opened for different currency like Pakistani, Euro, and pounds etc.

Second Week

5.4.3.3 Clearing Department


The second week of my internship, I joined the clearing department which is also handle
by Mr. Waseem Toor and Miss Sadia. It is very interesting department according to my
knowledge. In this banks communicate with each other for clearing purpose. There are 3
types of clearing; normal clearing, intercity clearer paying and same day. A clearing house
is a place where representatives of banks of a city settle the receipts and payments of
cheque drawn on each other. Kinds are:

Inward clearing

Outward clearing

5.4.3.3.1 Inward Clearing


Mean of this type of clearing is that all those cheques which are issued by account

Holder to other parties and now these cheques are presented for payment.

5.4.3.3.2 Outward Clearing


This type of clearing is that when outside parties issue some cheque to our account
holder, they when outside parties issue some cheque to our account holders; they deposit
these cheques. As other bank operating in country are sent to clearing department.

“Saturday and Sunday off the bank”

Third Week
5.4.3.4 Cash Department
3rd week I joined the cash department, the supervisor of my Mr. Imtiaz Bhatti. It is so much
guides me, his attitude with internee so lovely. He has much year experience. There is
no chance of any mistake. They tell each and everything with procedure. Cash
department is very risk and tough. They keep the record of each and every transaction.
The important function of department is cash deposit and cash receipt.

5.4.3.5 Cash Deposit Procedure

Customer fill the pay slip, and given to cashier with amount. Cashier takes the slip and
amount and deposit in customer’s account with the help of computer. And also maintain
the record in computer with date, account number and amount. They stamp the slip with
the help of operational manager.

5.4.3.6 Cash Payment Procedure


When customer comes to withdraw his amount from his account, firstly he fills the cheque
with their signature. He gives to cashier, if the amount is less than Rs 50000 then they
easily gives him. But if amount is greater than Rs 50000 then he will investigate the
people.
If customer withdraw amount his relative’s account then they again investigate that
person. These are the important rule of the bank.

Fourth Week

5.4.3.9 Remittance

In the 4th week I learned about the remittance under supervisor of Mr. Waseem Toor. I
got the idea of remittance, in actual what is remittance? It is the important operation of
the bank. This is related to the internal work of Soneri bank. This department is controlled
by 1 person to maintain the remittance account of branch. There is following types of
working:

 BC (Banker cheque)

 ATM

 outward Bill Collection

 inward Bill Collection

 Intercity

5.4.3.9.1 Banker Cheque


The concept of BC is old, because the old name of this cheque is Demand Draft (DD),
Mostly people use this cheque for their business. This is basically use for transfer of
amount from one person account to the other person in different city.

Consider, a customer want to made the BC on the account for a particular city Islamabad.
After having the total amount to be deposited with application from banker’s cheque
issued in favor of the specified person in Islamabad and drawn on SBL Islamabad branch.
When the instrument is presented by payee in any bank, it continues the inward clearing
of SBL Islamabad.

If customer does not use cheque, then they use DD (demand draft). Deduction fix(Rs
150+FED 16%).

5.4.3.9.2 ATM’s
SBL provide the service of ATM to customers 24 hours. This is very each way of
transaction. You can withdraw your amount from ATM in anywhere. When you use own
Soneri bank ATM, then no kind of tax charge. But if you use other bank ATM then they
charge Rs 15 as tax. ATM has only currency of Rs 500 and Rs 1000. There are 2 types
of ATM cards.

Classic (maximum Rs 35000)

Golden (Rs 50000)

5.4.3.9.3 Outwards bills for collection


When an instruments is drawn on a bank which is situated outside the city, its profits can
be collected through a mechanism called outward bills for collected works (OBC)

All the cheques are received on one counter along with paying slip duly filled in properly
containing particular of cheques and account holder. Counter sheet of paying slip is
handed over to the customer by putting stamp for cheque received for collection for Soneri
bank on it duly signed by officer. These cheques are securitized and cheques for local
clearing are separated from OBC. Cheques are local clearing entered in clearing register
where number selected and crossing and support stamps are affixed on the cheque.

5.4.3.9.4 Inward bills for collection

If any other bank sends a cheque SBL it is inward bill collection (IBC) Soneri bank remits
money after examination the balance of the client account. The process of collection
starts when the cheques of SBL are received from other banks. Then these cheques send
to the head office Karachi, which sends the cheque SBP for clearing and gets the
information of cheque and credit advice. Main movement of clearing is performed by head
office which contracts other banks through SBP.

5.4.3.9.5 Intercity
It is an exchange for OBC, in which National organization of Facilitation Technologies
(NIFT) collects cheques from regional branch and receives payment from non-Soneri
Bank branch of other region, then reports back to the matching branch. It has less time
period of money transfer in the account but has higher bank charges then OBC. This for
example filling forms for OBC, Intercity and Banker’s Cheque and I also handled IBCs
and posted and decoded formulas from OBC and IBC.

Fifth Week
5.4.3.10 Import Export Department
In this week my duty was in trade department, where I learned about trading activities of
Soneri Bank. Here my supervisor Mr. Aamir Usman guides me a lot with me. I did not
feel any kind of problem to asking any question about his operational working of this
department. He explains each and every thing with detail. This department is closely
relate with the foreign trade department it is growth of the foreign trade whatever bank
has to offer is carried out through the import export department.

Advance expenditure

Cash against papers

D/A or on Credit

5.4.3.11 Overseas Trade


Especially this type of trade exists between two persons or more persons (exporter and
importer). It issue letter of credit (L/C) comprising of guarantees, issuance of documents
including airway bills, bills of lading, E-Forms, Exchange rates etc.

The basic reason of L/C is to issue kind of guarantee on behalf of an importer. Like if an
importer asks for a consignment for which he or she intends to give late or on credit than
clearly the exporters needs some sort of guarantee that the importer will really give back
his or her money as promised. Here the banks play their role.

The bank which opens the L/C is usually on importer’s end giving a guarantee to the
exporter’s bank that in case the importer fails to pay the payment in due time than the
opening bank will pay on his or her behalf for opening an L/C there are certain necessities
which the bank take care of These are:

 Sketch

 Invoices
 Bill of Lading

 Weight Note

 Shipper certificate

 Packing inventory

 Assurance plan

 Certificate of Origin form

 Inspection Certification

He guides me the whole procedure of their duties. How they perform it.

5.4.3.12 FORM “E”


Client of bank requested to the bank for issue the E-form for the import or export purpose.
He write the application and given to the manager. When application approved by
manager then they issue the form. This has four copies: original for custom, duplicate for
bank, triplicate for State Bank of Pakistan and last quadruplicate for customer.

5.4.3.12.1 Following steps are involved in from “E”

Firstly bank requested his customer to complete all the papers. After finishing the papers
send to custom for clearing, and receive customer clearing certificate. Then send the
consignment to port. Lastly bank will send all the documents to issuing bank.

Bank is not blame for any damage. 100% margin required for opening L/C. with passage
of if party developed understanding with bank. The bank would give some kind of
relaxation in cash margin.

5.4.3.13 Imports
There are some things which are needed in Imports. Import start with letter of credit.
Information in L/C
Name of local company (import the goods).
Name of foreign company (export the goods).
Some Details of goods including their amount, quantity, style of packing.
Bill of consignment number
Total payment of letter of credit
Number of days (the letter of credit is valid).
5.4.3.14 Parties involve in a Letter of Credit
There are normally 5 parties involved in L/C. In this they need 2 buyers, 1 seller, 1 carrier
and last 1 is insurance company.

Buyer (recognized as importer or consignee)

Buyer’s bank (recognized as opening paying bank)

Seller’s bank (known as advising bank or negotiating bank)

Carrier (known as shipping company)

Insurance company

5.4.3.15 OPENING OF L/C


For opening of L/C following documents are required by the bank.
 Application of relationship

 Assurance

 L/C opening charges

 Order or invoice or indent

 Liability endorsement of customer

 An L/C is issued after opening of letter of credit it is sent to exporter’s bank.

 Postage charges

 Commission

5.4.3.16 SWIFT
It is system among all banks. No other organization can get involved in it. The SWIFT
system has introduced the quick service in the area of residence remittances. The system
has fitted features of computerized check keys, which remove the manual application of
test that often causes delay in the payments of home remittances. SWIFT is operational
at SBL; Wazirabad main branch code is SONEPKKWZD.

Sixth Week
5.4.3.17 Credit department
In sixth and last week of my internship I have to work in credit department under
supervision of Assistant Manager Mr. Shehzad Hussain, a very nice, intelligent and
helping official of the bank. He told about everything which much detail and forced me to
learn. Over the New Year’s credit department of the SBL has got vital importance
beginning car finance. It is the idea in banks that more credit goes to the customer more
will be creditability of the bank in front of the customers. The credit department two types
of financing

Consumer financing

Corporate financing

Consumer financing also comprises of following types

Soneri Car Finance

Soneri Ghar Finance

Soneri Personal Finance

Soneri Generator Finance

5.4.3.18 Purpose of finance


Purchase of brand new: authorized finance must be utilized for brand new cars. No
finance will be available for used or reconditioned cars.

Unregistered cars (private use)


Unregistered light commercial vehicles (private use)
5.4.3.19 Corporate Finance
The main corporate finance products are:
General financing facility
Import financing facility

5.4.3.21 Export financing facility


Soneri bank limited deals almost in all the above mentioned sections of corporate
financings: General financing is further divided into four types; these are given below in
detail:

Short-term running finance


Cash finance
Term finance
Order finance

Weeks Work Supervisor Signature


Firstly I work in
account opening
department. I
1st Week learned all the Mr. Waseem Toor
procedure of this
department.

I worked in clearing
department. This is Miss Sadia
2nd Week quite interesting
department.
I worked in cash
department. There
are different
3rd Week procedures. I fill the Mr. Imtiaz Bhatti
vouchers like
deposit slip, online
slip.
I worked in
remittance
4th Week department. Mr. Waseem Toor

I worked in import
5th Week and export Mr. Amir
department.
6th Week I worked in finance
department. Mr. Shahzad

4 Description of accounts with internee’s activities

Firstly I explained the accounts in the starting of my report. But now I explain the
description of accounts with my activities, which I did it.

Accounts opening department


Loan and Leasing
Clearing department

In Soneri bank Wazirabad there are no separate departments; means there is no provide
separate cabin or room to their employees. The bank provides is openly environment to
their employees they easily communicate to each other.

Accounts opening procedure handle by Mr. Waseem and Miss Sadia. But in my
internship, I personally fill the applications form of the accounts opening. The mention
term and condition easily understandable for the people.

I also perform a various activity in loan and leasing department. I learn the term and
condition of this department. I fill the forms of client for approval of loans with the help of
their knowledge what they demand.
Last but not the least the most interesting department is clearing. I also operate. I their
entries in the register with date. Clearing means you stop the payment of other bank’s
account holders.

Basically the bank most important work is “fill the forms and documents”. So I personally
see these documents and also fill it.

5.4.5 Description of tasks during internship

There are different tasks assign to me. This helps me to experience the bank work. The
bank job is not so easy but so much information you can gather for your future.

This helps me so much for your studies. Today is scope of banking and banking
techniques is important in every field of life.

Which task assign to me, they are:

First task of my internship was to record the account holder data in new forms with new
pattern.

Secondly Assistant manager of Soneri bank task assign to me to record the data of all
clients in different forms. The data of the entire client is too much different from each
other. This task related to loan leasing department.

Thirdly Miss Sadia assign to me to fill the vouchers of cash transaction with the detail
information of the customer in daily routine, and also record the various data record in
register with date.

5.4.6 Summary of learning

There is summary of learning of my internship report. In which I gained so much


knowledge, perform different tasks/responsibilities and also have the experience how this
is important for my career.

5.4.6.1 Skill and qualification gained

I discover so many things during my internship. This six week efforts enhance my skill
and qualification. Today I have knowledge about bank terms and condition which I heard
before. In the nut-sell I can say that my internship gives me lots.
5.4.6.2 Kind of responsibilities

During my internship I perform different responsibilities in bank which is assign to me.


The best part of internship is, when you perform the different responsibilities under
supervisor.

5.4.6.3 Internship influence your future

Yes I can say that the internship influence my career. They give me so much information
about job. This kind of experience helps me in my future.

5.4.6.4 Internship correlated with class room knowledge

With the help of internship, I can say that practical knowledge is better than class room
knowledge. In the class you just take your lectures, but in the internship, you personally
experience the practical things.

6 Conclusion of report

At the end we conclude the report in some points what I learn during my internship. How
can I define my experience? What is the strength of bank and what is the weakness.

6.1 Conclusion from internship experience

I spent six weeks in Soneri bank ltd, Wazirabad branch. It was my 1st experience to do
practical work in the any organization. This kind of work is not helping me in my study;
also help me in my career. During my internship, I want to say that Soneri bank also faces
the some crises but the main purpose of this bank to create a good relationship with
customers and also make them believe that this bank is good for them. This bank is
creating a good name in the local market and this all happens by employers and
employees of organization. They provide good services to their customers.

6.2 Observations of sector during internship

Today In our country, the scope of bank is high. Mostly student prefer the bank for a good
job. Bank system is important for the entire sector. Its operations are different from other
sectors. I study many things in bank during my internship; his operation, his duties, his
document, his forms all thing is different from others. According to my observation this is
best sector for job and also for internship. Recommendations
 Bank needs to improve operations and policies to compete in market and improve
picture in customer eyes.

 Maintain the branches wise expenditure can also help a lot to cover budget
deficiency.

 Marketing department of the SBL is not proper working. So they much invest in
marketing for enhancement.

 Good incentive should give to employees for their betterment.

 Explain proper code of corporate, ethics and culture for bank.

 Bonus should be given to employee according their performance.

 Cheque and stability over branch wise operations is little weaker, making it better
can solve certain harms, most outstandingly business efficiencies.

 The employees in the organization should be insured job security so that there is
no force on the employees while performing their tasks.

 The number of allowances and perquisites for the workers should be bigger to
ensure that they put their body and spirit in the jobs assigned to them.

 The present IT-bank system used by the bank is very slow in processing so my
point of view is that the bank should try to believe a quantity of other but more
efficient form of knowledge in order to give calm to the customers as well as the
workers.

 The Soneri Bank Limited should give credit services to the expensive customers
rather to give first choice to its clients who are businessmen in all branches in
Pakistan. By doing this, Soneri Bank Limited can also enhance its income.

After passing the time in the bank I have felt that one of the biggest weak points of Soneri bank
is its software called sonaware.net. It is because this software is newer version of the old software
called Sonaware. After implementation of this software there is often a break down resulting
because of the break in link. This breakage of link sort of paralyses the entire working making
long pauses in the accounts department, remittance department and so on.

Also there is a problem in the ATM network of the bank. During my internship I have seen
many times the broken down ATMs. Obviously it turns the customers away.

So in response to above stated problems and to some other restraints following are some
recommendation.

 Improvement of the Software: - As it has been mentioned many times before that
in this digital age software and I.T are becoming more important for day to day
activities. So if a more comprehensive and dynamic software is adopted it will
surely help to grasp the attention of quality seeking customers.

 Up gradation of the ATM network: - It is evident that ATM’s are the most crucial
and dynamic form of modern banking and now a days, a bank without offering the
facility of ATM is not going to stand in the stiff competition. So Soneri bank needs
to cater the needs of the customers and the ATM network needs to be improved.

 Increase in the number of branches both in rural and urban areas to cater the
needs of ever increasing no of potential clients: - More branches need to be
opened. Obviously suitability and other factors need to be considered but one can
never pluck the fruit out if not try for it. So unless more branches are not opened
more benefits cannot be obtained.

 Better and effective marketing: - I have felt that Soneri bank is not very much into
advertisement of its services and products. In this age of competition and mass
media advertisement it is hard for you to be prominent and distinguished. So
unless an effective marketing is not done people will fail to notice an organization
even exists.

 Focusing the banking not only to SME but on other potential areas as well: - It will
be favorable to extend the circle of services to more areas of serving. Because
mass production ideas also can be applied to the services sector as well.

Implications of Internship on my career


I think that internships are the preview of how crucial a professional working environment
is going to be. By doing internships one can form their perception and a mindset that how he or
she is going to adjust in the professional environment. Also internships are one of the ways to
show the employers that one can be a valuable asset for an organization.

I have felt during my six weeks of internship that it has helped me to be vigilant for what
awaits in the practical world. I have seen how things are carried out professionally. To be part of
a banking environment I have gained quite an insight of how important and crucial banking can
be. During the internship I was moved among all departments. This rotation has helped me a lot
to form an impression of how to prepare myself to work there if I am given an opportunity to a part
of them.

Also Internships give one sort of a guide line whether to set an organization as a career
path or not. By doing this internship I have formed my opinion that I can choose banking as a
prospective career. I can now stream line my intentions and efforts to be a part of a professional
banking environment.

Internships Are also away to self analyze one’s true potential and level of efforts one can
exert to work professionally. After spending six weeks in the internship, I think that I can opt
banking and I hope that I can also apply for the banking field. So self evaluation for my career has
been achieved by doing these six weeks internship.

Concluding the matters I hope that internships are quite grave in pointing out areas of
interests, areas of specialization and plucking ones true potential out for a job. I sincerely hope
that now my efforts will be more streamlined, organized and put together to apply for the banking
field and later in my career it can be beneficial to prepare myself for what awaits in the professional
and practical world.

CONCLUSION
Soneri bank Limited is engaged in banking service, and operate more than 118 braches
including four Islamic Banking Branches in Pakistan. The bank operates in four segment
corporate finance, trading and sales, retail banking and commercial banking.
Within the span of 18 years, SBL has become the one of the largest private bank in the country.
There are about 112 correspondent banks in 31 countries of the world. Its capital and reserves
level is increasing day-by-day. Their main objective is to provide professional, personalized and
efficient service to the clients at all the times. SBL is always looking forward to provide new and
better services than their competitors.
To develop Soneri bank Limited into an aggressive and dynamic financial institution having the
capabilities to provide personalized service to the customers with cutting edge technology and
a wide range of products, and during the process to ensure maximum return on assets with
ultimate goal of serving the economy and society.