A

SUMMER INTERNSHIP REPORT

ON

“STUDY ON FINANCIAL PERFORMANCE”

At

State Bank of India

Submitted to

Institute Code : 759

Shree H.N.ShuklaCollege of management studies, Rajkot

Under The Guidance Of

Asst. Prof. Jay Goswami

In partial fulfilment of the requirement of the award of the degree of

Master of Business Administration

Offered By

Gujarat Technology University

Ahmedabad

Prepared By:

Davda Nirali

Enroll. No. 177590592022

MBA(semester 3)

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 STUDENT’S DECLARATION

I hereby declare that the summer internship project report titled “ study on
financial Performance in (State Bank of India ) is a result of my own work and my
indebtedness to other work publications, references , if any, have been duly
acknowledged. If i am found guilty of coping from any other report or published
information and showing as my original work, or extending plagiarism limit, I
understand that I shall be liable and punishable by the university, which my include
“fail” in examination or any other punishment that university may decide .

Enrollment No. Name Signature

177590592022 Davda Nirali
Mahendrabhai

Place ........... Date ...................

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 ACKNOWLEDGMENT

No serious and lasting achievements of success, one can ever achieve without
the help of friendly guidance and co-operation of people involved in it.

The success of any project is never limited to the individual undertaking the
project. It is co-operative effort of the people around an individual the spell success.
For all effort, behind this successful project I am highly, intended to the following
personality without which this project would never completed. I find no word to
express my gratitude towards those who were constantly involved with us through our
work.

First and for most, I thankful to Mr. Jay Goswami assistant Prof. who guide
and assist me during entire project preparation.

I would also like to express my gratitude to Mr. JIGAR K. DULLA a dynamic

personality to giving me chance to carry out this project in the bank like SBI PORT
OKHA.

I am really thankful to other employees of the bank for their kind co-operation
and support in my project.

Finally I want to thank parents and friends who guided and helped me in my
entire project.

Signature :

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 PREFACE

A practical knowledge in a student’s life is very important. It helps a student

to know the real life situation and problems of life. Same is the case with the
corporate world. Theoretical knowledge is very much needed but practical knowledge
is equally important. This practical knowledge to a student is given in form of
training.

Being a student of MBA it was a very valuable and memorable experience a

SBI PORT OKHA. I learnt the management subject, came across to various day
activities of various department in the organization. This wonderful experience has
given me a new light to what I had studied.

This training was undertaken during the period of 4thjune 2018 to 9thjuly 2018
for the 3rd semester of MBA programme, during the academic year 2017-18 I have
undergone training at SBI PORT OKHA, I have tried my level best in contraction of
the report.

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 TABLE OF CONTENT

Sr.No. Particular Page No.

1. Executive Summary 1
2. Industry Overview : 3
2.1 Basic Overview of Banking Industry
2.2 Banking Structure in India
2.3 Indian Banking System
2.4 Indian Banking Industry Analysis
2.5 StatusWise Bifurcation of Bank
2.6 Types of Bank

3. Major Players 13

4. Bank Overview : 14
4.1 Introduction
4.2 Profile of Bank
4.3 Vision, Mission
4.4 Organization Chart
4.5 The Executive Committee
4.6 Product at Bank
5. HR Department : 23
5.1 HR Policy and Programmers
5.2 Recruitment

6. Marketing Department : 26
6.1 Introduction
6.2 Marketing 7 P’S
7. Financial Department : 32
7.1 Introduction
7.2 Financial Planning
7.3 Cash Management

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8. Review of Literature 36
9. Introduction to Topic 39
10. Research Methodology : 40

10.1 Rational for the study

10.2 Statement of the problem
10.3 Significance of the problem
10.4 Research objective
10.5 Scope of the study
10.6 Research design
10.7 Limitation of the study
11. Financial Statement Analysis 49
11.1 Ratio Analysis
11.2 common size income statement
11.3 common size Balance sheet
12. Findings 61
13. Suggestions 63
14. Conclusion 65
15. Bibliography 67

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 LIST OF TABLE

Sr. Particular Page no.

No.
1. Credit Deposit Ratio 49
2. Asset Turnover Ratio 51
3. Net Profit Margin Ratio 52
4. Income Ratio 53
5. Proprietary Ratio 54
6. Common size income Statement 2014-15 to 2015-16 55
7. Common size income statement 2015-16 to 2016-17 56
8. Common size income statement 2016-17 to 2017-18 57
9. Common size balance sheet 2014-15 to 2015-16 58
10. Common size balance sheet 2015-16 to 2016-17 59
11 Common size balance sheet 2016-17 to 2017-18 60

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 1. EXECUTIVE SUMMARY

As a part of curriculum every student studying MBA has to undertake a

project on a particular subject assigned to her .accordingly i have been
assigned the project work on the study project financing and banking sector.

As it is rightly said that finance is the life blood of every business so every
business need funds for smooth running of its activity and bank is one of the
source through which the business get funds , before financing the bank
perform the project and if the projects meet the requirement of the bank rules
then only they will finance.

Project financing is commonly used as a financing method in capital intensive

industries for projects requiring large investment of funds , industrial facility
and heavy manufacturing plan .

This project has been undertake at state bank of India ,Okha branch which is
one of the largest bank in india having vast domestic network. SBI deals with
all financial activity which involves all types of deposits, advance including
project financing mutual fund etc.

Financial performance which mainly leads to the feasibility study consisting of

ratio analysis and common size income statement and balance sheet of last for
years of SBI bank .

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 2. INDUSTRY OVERVIEW

2.1 Basic Overview Of Banking Industry

Banking is nearly as old as civilization. The history of banking could be said

to have started with the appearance of money. The first record of minted metal coins
was in Mesopotamia in about 2500B.C. the first European banknotes, which was
handwritten appeared in1661, in Sweden. cheque and printed paper money appeared
in the 1700’s and 1800’s, with many banks created to deal with increasing trade.

The history of banking in each country runs in lines with the development of
trade and industry, and with the level of political confidence and stability. The ancient
Romans developed an advanced banking system to serve their vast trade network,
which extended throughout Europe, Asia and Africa.

Modern banking began in Venice. The word bank comes from the Italian word
“ban co”, meaning bench, because moneylenders worked on benches in market
places. The bank of Venice was established in 1171 to help the government raise
finance for a war.

At the same time, in England merchant started to ask goldsmiths to hold gold
and silver in their safes in return for a fee. Receipts given to the Merchant were
sometimes used to buy or sell, with the metal itself staying under lock and key. The
goldsmith realized that they could lend out some of the gold and silver that they had
and charge interest, as not all of the merchants would ask for the gold and silver back
at the same time. Eventually, instead of charging the merchants, the goldsmiths paid
them to deposit their gold and silver.

The bank of England was formed in 1694 to borrow money from the public for
the government to finance the war of Augsburg against France. By 1709, goldsmith
were using bank of England notes of their own receipts.

New technology transformed the banking industry in the 1900’s round the
world, banks merged into larger and fewer groups and expanded into other country.

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 2.2 Banking Structure In India

In today’s dynamic world banks are inevitable for the development of a

country. Banks play a pivotal role in enhancing each and every sector. They have
helped bring a draw of development on the world’s horizon and developing country
like India is no exception.

Banks fulfills the role of a financial intermediary. This means that it acts as a
vehicle for moving finance from those who have surplus money to (however
temporarily) those who have deficit. In everyday branch terms the banks channel
funds from depositors whose accounts are in credit to borrowers who are in debit.

Without the intermediary of the banks both their depositors and their
borrowers would have to contact each other directly. This can and does happen of
course. This is what has lead to the very foundation of financial institution like banks.

Before few decades there existed some influential people who used to land
money. But a substantially high rate of interest was charged which made borrowing of
money out of the reach of the majority of the people so there arose a need for a
financial intermediate.

The Bank have developed their roles to such an extent that a direct contact
between the depositors and borrowers in now known as disintermediation.

Banking industry has always revolved around the traditional function of taking
deposits, money transfer and making advances. Those three are closely related to each
other, the objective being to lend money, which is the profitable activity of the three.
Taking deposits generates funds for lending and money transfer services are necessary
for the attention of deposits. The Bank have introduced progressively more
sophisticated versions of these services and have diversified introduction in
numerable areas of activity not directly relating to thtraditionaltrinity

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 2.3 Indian Banking System

Reserve Bank of India

Schedule Banks Non-Schedule Banks

Central co-op
State co-op Commercial Banks Commercial Banks
Banks and Primary
Banks
Cr. Societies

Indian Foreign

Public Sector
Private Sector Banks HDFC,
Banks
ICICI etc.

State Bank of India Other Nationalized Banks Regional Rural

and its Subsidiaries Banks

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 2.4 Indian Banking Industry Analysis

The banking scenario in India has been changing at fast pace from being just
the borrowers and lenders traditionally, the focus has shifted to more differentiated
and customized product/service provider from regulation to liberalization in the year
1991, from planned economy to market.

Economy, from licensing to integration with Global Economics, the changes

have been swift. All most all the sector operating in the economy was affected and
banking sector is no exception to this. Thus the whole of the banking system in the
country has undergone a radical change. Let us see how banking has evolved in the
past 57 years of independence.

After independence in 1947 and proclamation in 1950 the country set about
drawing its road map for the future public ownership of banks was seen inevitable and
SBI was created in 1955 to spearhead the expansion of banking into rural India and
speed up the process of magnetization.

Political compulsion’s brought about nationalization of bank in 1969 and

lobbying by bank employees and their unions added to the list of nationalized banks a
few years later.

Slowly the unions grew in strength, while bank management stagnated. The
casualty was to the customer service declined, complaints increased and bank
management was unable to item the rot.

In the meantime, technology was becoming a global phenomenon lacking a

vision of the future and the banks erred badly in opposing the technology up gradation
of banks. They mistakenly believed the technology would lead to retrenchment and
eventually the marginalization of unions.

The problem faced by the banking industry soon surfaced in their balance
sheets. But the prevailing accounting practices unable banks to dodge the issue.

The rules of the game under which banks operated changed in 1993. Norms or
income Recognition, Assets classification and loan loss provisioning were put in place

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and capital adequacy ratio become mandatory. The cumulative impact of all these
changes has been on the concept of state ownership in banks. It is increasingly
becoming clear that the state ownership in bank is no longer sustainable.

The amendment of banking regulation act in 1993 saw the entry of new
private sector banks and foreign banks.

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 2.5 Status Wise Bifurcation Of Banks

They are divided into two groups:

 Scheduled Banks
 Non Scheduled Banks

Scheduled Banks

In first schedule, government of India notifies the Primary Banks, which are
licensed and whose demand and time liability are not less than 50 crores in 1987.

Government of India notify the Primary banks, which are licensed and whose
demand and time liability are not less than 100crores can only qualify to be included
in the second schedule since 1993.

A bank becomes scheduled when it fulfils the followings:

 A grade rating from RBI

 Demand and Time Liabilit y over 100crores.
 Satisfy the RBI guidelines related to CRR and SLR
 As per the norms Priorit y Sector wise landing benefits of being a
Scheduled co -operative are described below: -
 RBI would provide Rediscounting facilit y at nominal rate
 RBI gives remittance facilit y at par

The demerits of becoming a scheduled co-operative bank is that the bank will not
get 0.5% subsidy from RBI

The conferment of scheduled status on the banks has certain advantages like
refinance facility, directly industrial finance from Reserve Bank of India. Avail of

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Reserve Bank of India Remittance facility scheme, accept deposits from local bodies,
quasi-government organization, religious, and charitable institutions, guarantees and
cheques issued by Banks are accepted by Government Departments. At the same time,
it casts greater responsibility on the banks in the maintenance of books of accounts
and submissions of returns.

Scheduled banks in India

Scheduled Commercial Bank

Scheduled Co -operative Bank

Non-Scheduled Banks

The banks, which are not applicable as per the criteria of

Scheduled Banks, are called as a Non -scheduled Banks. These are ver y
small banks.

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 2.6 TypesOf Bank

 Regional Rural Bank (RRB)

 Nationalized Bank
 State Bank Group
 Co-operative Bank
 Private Bank
 Foreign Bank

Reserve Bank of India

The Hilton-young commission, appointed in 1926 has recommended the

necessit y of centrally empowered institution to have effective control
over currency and financial transaction in the count y. Accordingl y, the
Government had then passed Reserve Bank of India A ct, 1934 and
established the Reserve Bank of India with effect from 1 s t April 1935.
The principal aim behind this was to organize proper control over the
currency management in the interest of country benefits and to
maintain financial stabilit y. With this, the RBI mainl y looks after the
following important functions:

 To keep effective control over creation of credits and currency

suppl y
 To control the Banking transactions of Central and State
Governments.
 To act as Central administered Authorit y of all other Banks in the
country.
 To organize control over Foreign Currency Tran saction.
 To assist for improvement in financial aspect of the country.

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NATIONALISED BANKS

The Banking Company Act establishes it in Jul y 1969 by

nationalization of 14 major banks of India. The sent percent ownership
of the bank is of government of India.

STATE BANK GROUP

The State Bank of India was

established under the State Bank of
India Act, 1955, the subsidiary banks
under the State Bank of India
(subsidiary Banks) Act 1959. The
Reserve Bank of India owns the State
Bank of India, to a large extent, and
rest of the part is some private
ownership in the share capital of
State Bank of India. The State Bank
of India owns the subsidiary Banks.

OLD PRIVATE BANK

These banks are registered under Company Act, 1956. Basic

Difference between co-operative banks and private banks is its aim.
Co-operative banks work for its member and private banks work for
earn profit.

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NEW PRIVATE BANKS

These banks lead the market of Indian banking business in very

short period. Because of its variety services and approach to
handle customer and also because of long working hours and
speed of services. This is also registered under the Company Act.
1956. Between old and new private sector bank, there is wide difference.

FOREIGN BANKS

Foreign Bank means multi-countries bank. In case of India Foreign Banks are such
Banks. Which open its branch office in India and their head office is outside of India.

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 3. MAJOR PLAYERS

Public sector bank

 State bank of India (SBI)

 Punjab national bank
 Bank of Baroda
 Canada bank
 Bank of India

Privet sector bank

 ICICI bank
 HDFC bank
 Axis bank
 Citi bank
 IDBI bank

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 4. BANK OVERVIEW

4.1 Introduction

STATE BANK OF INDIA

The origin of the State Bank of India goes back to the first decade of the
nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2
June 1806. Three years later the bank received its charter and was re-designed as the
Bank of Bengal (2 January 1809). A unique institution, it was the first joint-stock
bank of British India sponsored by the Government of Bengal. The Bank of Bombay
(15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal.
These three banks remained at the apex of modern banking in India till their
amalgamation as the Imperial Bank of India on 27 January 1921.

Primarily Anglo-Indian creations, the three presidency banks came into

existence either as a result of the compulsions of imperial finance or by the felt needs
of local European commerce and were not imposed from outside in an arbitrary
manner to modernise India's economy. Their evolution was, however, shaped by ideas
culled from similar developments in Europe and England, and was influenced by
changes occurring in the structure of both the local trading environment and those in
the relations of the Indian economy to the economy of Europe and the global
economic framework.

Bank of Bengal H.O.

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Establishment

The establishment of the Bank of Bengal marked the advent of limited liability, joint-
stock banking in India. So was the associated innovation in banking, viz. the decision
to allow the Bank of Bengal to issue notes, which would be accepted for payment of
public revenues within a restricted geographical area. This right of note issue was
very valuable not only for the Bank of Bengal but also its two siblings, the Banks of
Bombay and Madras. It meant an accretion to the capital of the banks, a capital on
which the proprietors did not have to pay any interest. The concept of deposit banking
was also an innovation because the practice of accepting money for safekeeping (and
in some cases, even investment on behalf of the clients) by the indigenous bankers
had not spread as a general habit in most parts of India. But, for a long time, and
especially up to the time that the three presidency banks had a right of note issue,
bank notes and government balances made up the bulk of the invertible resources of
the banks.

The three banks were governed by royal charters, which were revised from
time to time. Each charter provided for a share capital, four-fifth of which were
privately subscribed and the rest owned by the provincial government. The members
of the board of directors, which managed the affairs of each bank, were mostly
proprietary directors representing the large European managing agency houses in
India. The rest were government nominees, invariably civil servants, one of whom
was elected as the president of the board.

Group Photograph of Central Board (1921)

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Business

The business of the banks was initially confined to discounting of bills of exchange or
other negotiable private securities, keeping cash accounts and receiving deposits and
issuing and circulating cash notes. Loans were restricted to Rs.one lakh and the period
of accommodation confined to three months only. The security for such loans was
public securities, commonly called Company's Paper, bullion, treasure, plate, jewels,
or goods 'not of a perishable nature' and no interest could be charged beyond a rate of
twelve per cent. Loans against goods like opium, indigo, salt woollens, cotton, cotton
piece goods, mule twist and silk goods were also granted but such finance by way of
cash credits gained momentum only from the third decade of the nineteenth century.
All commodities, including tea, sugar and jute, which began to be financed later, were
either pledged or hypothecated to the bank. Demand promissory notes were signed by
the borrower in favour of the guarantor, which was in turn endorsed to the bank.
Lending against shares of the banks or on the mortgage of houses, land or other real
property was, however, forbidden.

Indians were the principal borrowers against deposit of Company's paper, while the
business of discounts on private as well as salary bills was almost the exclusive
monopoly of individuals Europeans and their partnership firms. But the main function
of the three banks, as far as the government was concerned, was to help the latter raise
loans from time to time and also provide a degree of stability to the prices of
government securities.

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 4.2 Profile of SBI Bank

Name of the Branch State Bank of India Port Okha

Types of Bank Public Bank
IFSC SBIN0000457
MICR 361002103
Address Raghunath Road , Port Okha
Branch Phone Number 02892262017
Email Sbi.00457@sbi.co.in
Customer care Number 1800-11-2211-,
Fax 02892-263017

Locker Facility No

Gold Coin Facility No

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 4.3Vision

 My SBI
 My customer first
 My SBI : First in satisfaction

Mission

 We will be prompt polite and proactive with our customer.

 We will speak the language of young India.
 We will create product and services that help our customer archive their gaols.
 We will go beyond call of duty to make our customer fill valued.
 We will be of service even in the remotest part of our country.
 We will offer excellence in service to those abroad as much as we do to those
in India.
 We will imbibe state of art technology to drive excellent.

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 4.4 Organization Chart of SBI Branch

Branch Manager

Manager Manager Manager Manager Manager (Int.

(deposits ) (advances) (accounts) (agriculture) Banking)

Officers Officers officers Officers Officers

Clerks Clerks Clerks Clerks Clerks

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 4.5 The Executive Committee

Sr No. Designation Name

1 Chairman Smt. Arundhati Bhattacharya
2 Managing Director Shri A. Krishna Kumar
3 Managing Director Shri P. Pradeep Kumar
4 Managing Director Shri B. Sriram
5 Managing Director Shri V. G. Kannan
6 Director ShriSanjivMalhotra
7 Director Shri Sunil Mehta
8 Director Shri M.D. Mallya
9 Director Shri Deepak I. Amin
10 Workmen Employee ShriJyotiBhushanMohapatra
Director
11 Officer Employee Director Shri S. K. Mukherjee
12 Director Dr. Rajeev Kumar
13 Director ShriHarichamdraBahadue Singh
14 Director ShriTribhovanNathChaturvedi
15 Director ShriGurdial Singh Sandhu
16 Director Dr. Urjit R. Patel

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 4.6 Different Product At SBI

Deposit Loans Cards Different credit

cards

Saving account Home loans Consumer cards SBI international

cards
Lift plus senior Loan against Credit card SBI gold cards
citizen savings property
account
Fixed deposits Personal loans Travel cards SBI gold master
cards
Security deposits Car loan Debit cards Your city your cards
Recurring deposits Loan against Commercial cards Your city your cards
securities
Tax saver fixed Two wheeler Corporate cards Partnership cards
deposits
Salary account Pre-approved loans Prepaid cards Partnership cards
Advantages Retail asset Purchase card SBI employee cards
woman savings
account
Rural saving accot Farmer finance Distribution cards SBI employee cards
Peoples saving Business Business cards SBI
account instalment loans ADVANTAGES
cards
Freedom Flexi cash Merchant SBI advantage card

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34
 5. HUMAN RESOURCE DEPARTMENT

5.1 H.R. Policy and Programmes

As a SBI bank is one of the leading public bank in the public sector, through its
performance is very good but then also such policies for human resources then not be
make by their own. It has to follow the rules of policies given by the government and
RBI so in the matter of the personnel policies SBI Bank is restricted to some level.
Then also bank have adopted a policy of recruiting only CA and MBA for their
management level for better management. So, by this way where they get chance they
are making or improving personnel policies at SBI bank.

In the SBI bank there is a very educated staff as it is concerned with the human
resource planning. Recently they has adopted policy of selection only C.A. and
M.B.A. for their human resource has as far as concerned with the human resource
planning. There is no long term planning but at a time or requirement of staff they
used to recruit staff either out side or from with in the firm through transfer or
promotion.

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 5.2 Recruitment

Among the function of human resource manager, one man function is to produce best
people for their organization, means search of prospective employees to suit the job
recruitment. A firm has to pass through well and good recruitment process for having
best human resource this recruitment can be possible through many resources. A firm
can recruit proper candidate mainly through two success recruitment sources these are
as under.

Recruitment Sources

Internal Sources External Sources

1. Transfer 1.Through Gov. Exam

2. Promotion
3. Relative & friends

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37
 6. MARKETING DEPARTMENT

6.1 Introduction

Today, marketing is spread in every field of like hospitals, services , goods

even political and many more. In banking sector too the importance of
marketing also can not measurable, still it has not developed in public sector it
is only limited to foreign in india is only best marketing efforts. Today in
banking sector there is a cutthroat competition among public sector , private
sector and foreign bank.

Marketing is a human activity directs at satisfying the needs and wants

of customers, there are five stages of bank marketing firstly marketing is
advertising, sales promotion and publicity, secondly marketing is smiling and
co-friendly atmosphere, thirdly marketing is innovation like the ATMs or
cheques with drawls on the fixed deposits, fourthly marketing is positioning.
When all banks advertise and innovate, they look alive so , they should try to
position themselves differently, even through symbols, logos or aggressive
advertising so that the customer can distinguee between one bank and another
and finally marketing is analyzing , planning and control.

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 6.2 7 P’s of marketing of SBI bank

 Product mix
 Pricing mix
 Place
 Promotion mix
 People
 Process
 Physical evidence

Product mix

 Deposits
 Investment
 Anywhere
 Loans
 DEMAT services
 Mobile banking

Pricing mix

Pricing in case of services is quite more difficult than in case of

product. The price of the product depends upon the services provided by the
bank on the individual product to the customers. The pricing strategies of SBI
are discussed below.

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  The pricing decision and the decisions related to interest and fee or
commission charged by banks are found instrumental and motivating
and influencing the target market
 The IBA and RBI are concerned with regulations. The rate of interest
is regulator by the RBI and other charges and controlled by IBA.

Place :

The place part of the marketing mix is where the customer receives the product and
services .place and case of services determine where is the product going to located.
SBI has 17,000 branches in India, as on December 2013, of which 9851 where in rural
and semi urban areas. An had 190 overseas offices extend over 34 countries the
selection of a appropriate place for the establishment of a branch is important with the
view point of making place accessible. Researchers find the following reasons why
SBI select a specific place as a branch ?

 The safety and security provisions

 Infrastructure facility
 Market coverage
 Convenient to both parties , such as the users and bankers .

Promotion Mix

 Advertising
 Print Media
 Publicity
 Sales promotion
 Personal selling

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 People :

The word people is used in services , marketing into two prospective.

 One for employee , i.e. internal marketing

 While another for customer ,i.e. external marketing

Process :

Service process is the way in which a service is delivered to the end customer. A
process is the particular operation and method of a series of actions, typically
involving multiple steps that often need to take place in the define sequence .process
is something related to :

 How do people consumer service?

 What process do they have to go through to obtain the service?

The process of SBI possess following component.

 Flow of activity
 Standardization
 Customization
 Number of steps
 Simplicity
 Customer involvement

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 Physical Evidence

Physical Evidence

It includes :

 Internet/ web pages

 Paper work
 Brochures
 Furnishing
 Business cards
 The building it self
 Signage
 Reports
 Punch lines
 Mobile ATMs
 Others tangible

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43
 7. FINANCIAL DEPARTMENT

7.1 Introduction

Finance is the fuel of administration. Without adequate financing no business

enterprise can raise its potential for growth and success. And it would be worthwhile
to recall what “Henry Ford” once remarked “Money is an arm or leg. You either use
it or lose it.” In the modern money oriented economy finance is one of the basic
foundations of all kind of economic activities.

Finance management is indeed the key to successful business operations.

Without proper administration and effective utilization of finance, no business
enterprise can utilize it’s potentials for growth and expansion. Organization and
control of these function is important for all types of business units. Especially in
public undertaking massive investment has so far been much less productive.

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 7.2 Financial planning

Planning is very necessary for the smooth running the business can not be
carried on without planning. Financial planning means deciding in advance the
financial activities to be carried on to organization. So, the basic purpose of financial
planning is to make sure that adequate funds are raised at minimum cost and they are
used widely. A proper planning of the business on one hand to allow a fair return to
their contribution on the other.

Thus financial planning includes the following....

1) Determination of financial objective

2) Formation of financial policy
3) Development of financial procedure

In SBI bank, the financial planning has been done through proper
management in various areas like liquidity planning, investment planning,
profit planning, cash management etc.

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 7.3 Cash Management

Cash is the medium of exchange which allows management to carry on the various
activity of the business on day to day basis. And management of cash is one of the
most important answer of overall working capital management due to the fare this
cash is the most liquid type of current asset.

The basic objective of cash management of are too reduce the operating cash
balance requirement to maintain possible extent without affecting routine transaction.
For the management of cash flow statement is the most important tool cash low
statement provided information about the cash ratio and payment of a firm for again
period. It provides important information that compliment the profit and loss account
and balance sheet.

46
 8. REVIEW OF LITERATURE

Banking is a prime mover in the economic development of a nation andresearch is so

essential to improve its working results. The management withoutany right policy is
like "building a house on sand". It means an effectivemanagement always needs a
thorough and continuous search into the nature ofthe reasons for, and the
consequences of organization. In line with this, somerelated earlier studies conducted
by individuals and institutions are reviewed tohave an in-depth insight into the
problem and exploring the reformation ofbanking policy. The main theme and essence
of few relevant studies arepresented below.

Scholten Bert (2000)''stated that, 'Competition, Growth and Performance is the

Banking Industry' examined profit performance of the banking industry in
theinternational context, using a sample of 100 international banks over the year
1981-97.

Anuradha (2001 ) stated that "the need for the change of Indian banks and the forces
behind the change like globalization, liberalization, international trade, 11 revolution
etc., The study also highlights various consequences that are to be faced by the Indian
banks if they remain unchanged".

Shri S.R. Mittal (2001) Chairman of Committee on Intemet Banking, Constituted by

R.B.I, strongly urged to use the fast growing Internet medium in banking
transactions..The Government of India set up a nine-member committee under the
chairmanship of Narasimham, former Governor of Reserve Bank of India. He is to
examine the structure and functioning of the existing financial system of India and
suggest financial sector reforms. The report of the committee was tabled in the
Parliament on December 17, 1991 .The Finance Ministry of Govt, of India appointed
once again a committee under the chairmanship of Sri M. Narasimhan to recommend
reforms for Indian banking sector. Reviewing the developments that have taken place
during the period 1991-98, the committee made recommendations for reforming the
banking sector.The Report was submitted in April 1998.

47
N. JanardhanaRao (2002) said, "The new ordinance SARFESI Act 2002 covers
three unrelated issues securitization, reconstruction, and perfection of security
interests. It would be better if these issues would be addressed specifically and
independently. There is no doubt that the ordinance is to run the banking system in
India, covering the bad debts is just the beginning. However much remains to be
done".

S.N. Bidani said (2002) "Banks should try to list out specific cause which are
responsible for increasing NPA's and evolve strategies and account specific action
plan for their removal. Such an approach would not only help them in bringing down
the existing NPAs but also check slippage of performing accounts in to this category".

Aditya Pun (2003) said, "Technology has enabled banks to target customers, and
provide customized products and services to match their individual requirements. The
winners will be those banks that make optimum utilization of available technology to
innovate, offer customized products and services, and make the most of the resources
at their disposal".

K. Eswar (2003) said, "As our market evolve, so customer requirements change, and
hence the positioning strategy needs to be modified. Positioning is not a one-time
effort. It is a constant pursuit".

PramodGuptha(2003) said, "Both public and private banks are spending large
amounts of money on technology to provide innovative products and services to their
customers with more convenience and satisfaction. Technology is reducing the cost of
transaction and helping to increase customer base and enable wider reach".

Abhiman Das and SaibalGhosh's (2004) study conducted "to know the performance
of bank CEOs in the era of corporate governance, tried to identify the adaptability
characteristics of CEOs in terms of technology. The study also states that CEOs of
poorly performing banks are likely to face higher turnover than CEOs of well
performing ones".

48
T.UmaMaheshwariRao and L Hymavathi {2005)stated the importance of internet
usage for banking worldwide and its relevance in Indian scenario To compete the
present banking business the banks were transforming themselves and conducting
their business electronically. This transformation leads to normal banking to
electronic banking, enabled customers to transact online, while saving on various
factors. Normal Banking activities still prevails in developing countries like India.

Bhatia (2007), found that the amount of NPAs has been seen on a continues increase
and had reached an alarming 6 per cent in 2006 which was much higher than 4 per
cent benchmark of financial indicators. Guillen and Tschoegi (2008)^^^, Traditional
banks accepted the change in their functioning in order to be more receptive to the
worldwide market demand for new financial product in new competitive market

49
 9.INTRODUCTION TO TOPIC

The performance of the bank can be measured by it’s financial results i.e. by it size of
earning riskiness and profitability are two measures factors which jointly determined
value of the concern. Financial decision which increase risk will decrease the value of
the bank and on the other hand , financial decision which increase the profitability
will increase value of the bank. Risk and profitability are two essential ingredients of
a business concern.

There has been a considerable debt about the ultimate objective of the bank
performance , whether it is profit maximization or wealth maximization. It is observed
that while considering the bank performance, the profit and wealth maximization are
linked and effective by one another.

50
51
 10. RESEARCH METHODOLOGY

Research methodology is the systematic way to solve the research problem. It

may be understand how research is done scientifically research is an art of scientific
investigation. According to Reedman and may defines research is a “systematic effort
to gain knowledge”.

In day to day life human beings has to face many problem viz. Social,
economic, financial problems. These problem in life call for acceptable and effective
solutions and for this purpose, research is required and a methodology applied for the
solution can be found out.

The purpose of the our project work was to study the factor affecting
influencing of investment decision in SBI.

The purpose of the methodology section is to describe the research procedure.

This includes research design, data collection methods, sampling methods, fieldwork,
analysis and interpretation.

52
 10.1 Ration For Study

Financial performance criteria are a part of an bank performance

criteria,which are used for measuring financial performance. Stakeholder groups such
as the government, customers and public should enter the scene and with taking
advantage of various mechanisms should impose their goals on these companies. The
other perspective claims that for profit bank considering the effort they make toward
obtaining profit, are considered as the best tool for demanding economic productivity
and efficiency and that, it is not necessary for them to consider any other goals other
than the goals of capital owner .this indicates to the importance of performance of
companies and it order to obtain maximum outcome it this regard, the effective
factors on bank performance should be studied carefully.

On the other hand, free cash flow is a criterion for measuring value of bank
and the performance and incites to the cash level an company has at its disposal after
making necessary expenses for maintaining or developing assets. Without having
cash, development of new product, payment of cash holding should be kept at a
certain level to create balance between the cost of holding cash and the cost of
insufficient cash.

53
 10.2 Statement OfProblem

Financial performance analysis is very much needed for finding out the
efficiency of rising and utilization of fund in the bank by establishing strategic
relationship between the components of balance sheet and profit and loss statement
and other operation data for better decision making and to maximize the profitability
of the bank.

54
 10.3Significance Of The Problem

Interest of various related groups is affected by the financial performance of a

bank. Therefore, these groups analyze the financial performance of the bank. The type
of analysis varies according to the specific interest of the party involved.

Management :interested in internal control, better financial condition and better

performance (appraisal of bank present financial condition, evaluation of
opportunities in relation to this current position, return on investment provided by
various assets of the bank, etc)

55
 10.4 Research Objective

 To study the annual report or financial position of the bank.

 To understand the day to day work carry out by the bank .

 To study the bank’s history in brief .

 To draw meaningful and constructive measure based on analysis.

 To study the current existing position of SBI banks whole field.

 To observe the cash in flow and out flow.

 To check the profitability of bank.

 To study the policy of the bank.

56
 10.5 Scope Of The Study

The study covers almost the entire area of financial operations covered by
“STATE BANK OF INDIA”. The study has been conducted with the help of data
obtained from audited financial records. The audited financial records are the bank
annual report pertaining to past 5 year from 2013-14 to 2017-18 and the audited
financial records are obtained from the bank annual report. The researcher tries to
measure the performance of bank and its working capital management in terms of
financial wealth.

57
 10.6 Research Design

A research design is only the framework or plan for a stydy, which is used as a
guide to collect and analyze data. In the context of this report on the project I have
used the descriptive research design.

The purpose of our project work was to study the facor affecting recovery
management at SBI. We used following type of research methods:

1. Exploratory Research
2. Descriptive Research

Thus keeping this in mind we adopted the following research methodology.

1. Primary Data :
primary data is information obtained by the researcher first
time but and it is personally developed to overcome the limitation of
secondary.

2. Secondary Data :
Secondary data is the data used that is combined by the someone
else other than the researcher. It is not personally developed v by the
researcher. It is already available for further processing secondary
data further classified in two parts
Research has been done by secondary data has been collection
and secondary data has been collected from bank and interest.

 Bank annual report

 Bank website
 Manual
Tools of data analysis

 STATEMENT OF COMMAN SIZE BALANCE

SHEET
 RATIO ANALYSIS
 CHARTS & GRAPH

58
 10.7 Limitations of the Study

There is no activity that can be completed without any limitations. The main
limitations faced during the preparation of this project report on “financial
performance of SBI Bank” is as follow:

 Time available for the completion of the project is very short, hence much
information could not be undertaken .
 The information collected through secondary data some of the information
might be wrong.
 The calculation and computation are based on valuable information given by
the bank.
 the analysis and conclusion made is as per my limited understanding for this
concerned subject.

59
 11. Financial Statement

11.1 Ratio Analysis

Ratio analysis is a widely used tool of financial analysis. The term ratio refers to the
relationship expressed in mathematical terms between two individual figures of group
of figures connected with each other some logical manner and are selected from
financial statement of the concern. The ratio analysis is based on the fact that a single
accounting figure by itself may not communicate any meaningful information but
when expressed as a relative to some other figure, or may definitely provide some
significant information the relationship between two or more accounting figure/group
is called a financial ratio helps to express the relationship between two accounting
figures in a such way that users can draw conclusion about the performance, strength
and weakness of a firm.

1. Credit Deposit Ratio

Credit deposit ratio of how much a bank lends out of the deposits it has
mobilized. It indicates how much of banks core funds are being used for
landing, he main banking activity. A higher ratio indicates more reliance on
deposits for landing and vice versa

Credit Deposit Ratio = total advances / total deposits *100

Table – 1 Credit Deposit Ratio (in crores)

Year Total advances Total deposits Ratio

2014 - 15 1692211.33 2052960.79 82.43
2015 – 16 1870260.89 2253857.86 82.98
2016 – 17 8796886.82 2599810.66 72.96
2017 - 18 1960118.54 2722178.22 72.00

60
 credit deposit ratio
84
82
80
78
76
74 credit deposit ratio

72
70
68
66
2014-15 2015-16 2016-17 2017-18

 Interpretation:

From 2014-15 to 2015-16 credit deposit ratio of SBI bank was constantly increase and
from 2016-17 to 2017-18 that ratio was decreasing constant.

61
 2. Assets turnover Ratio

Assets turnover ratio measures the value of a bank sales or revenue generated
relative to the value of the assets .the asset turnover ratio often be used as an
indicator of the efficiency which a bank is deploying its assets in generating
revenue.

Assets turnover Ratio = net income / total assets

Table –2 assets turnover Ratio (in Crores )

Year Net income Total assets Ratio

2014 - 15 257289.51 2700110.02 0.09
2015 – 16 272871.03 2970897.64 0.09
2016 – 17 298640.45 3445121.56 0.08
2017 - 18 306527.52 3616433.00 0.08

asset turnover ratio

0.092
0.09
0.088
0.086
0.084
0.082 asset turnover ratio
0.08
0.078
0.076
0.074
2014-15 2015-16 2016-17 2017-18

 Interpretation :

In the year 2014-15 and 2015-16 asset turnover ratio was same but then in year 2016-
17 ratio decreased and that has been constant at 2017-18

62
 3. Net profit margin Ratio

Net profit margin is the percentage of revenue remaining after all operating
expenses , interest , taxes and preferred stock dividends (but not common
stock dividend) have been deducted from a banks total revenue.

Net Profit Margin Ratio = Net profit/ Net Sales * 100

Table – 3 Net Profit Ratio (in crores)

Year Net Profit Net Sales Ratio

2014 - 15 17517.37 257289.51 6.80
2015 – 16 12743.29 272871.03 4.67
2016 – 17 -390.67 298640.45 -0.13
2017 - 18 -4187.41 306527.52 -1.37

net profit margin ratio

8
7
6
5
4
3 net profit margin ratio
2
1
0
2014-15 2015-16 2016-17 2017-18
-1
-2

 Interpretation
In the year 2014-15 and 2015-16 net profit margin ratio was going with
positive way decreased but in the year at 2016-17 and 2017-18 decreased with
negative margin.

63
 4. Income ratio

Income ratio is one way lenders, including mortgage lenders, measure an

individual’s ability to manage monthly payment and repay debts. DTI is
calculated by dividing total recurring monthly debt by gross monthly income,
and it is expressed as a percentage.

Income ratio = other income/total income*100

Table – 4 Income ratioRatio (in crores)

Year Other income Total income Ratio

2014 - 15 49315.17 257289.51 19.17
2015 – 16 51016.18 272871.03 18.96
2016 – 17 68192.96 298640.45 22.83
2017 - 18 77557.24 306527.52 25.30

30

25

20

15 income ratio
Column1
10

0
2014-15 2015-16 2016-17 2017-18

 Interpretation :
In the SBI bank from 2014-15 to 2017-18 income ratio was constantly
increased and that showing good progress of that bank.

64
 5. Proprietary Ratio

The proprietary ratio (also known as the equity ratio) is the proportion of
shareholder’s equity to total assets, and as such provides a rough estimate of
the amount of capitalization currently used to support a business.

Proprietary ratio = shareholder’s fund/total assets

Table – 5 Proprietary Ratio (in crores)

Year Shareholder’s fund Total Assets Ratio

2014 - 15 161387.54 2700110.2 0.05
2015 – 16 187592.37 2970897.64 0.06
2016 – 17 217192.15 3445121.56 0.06
2017 - 18 230321.95 3616433.00 0.06

proprietary Ratio
0.07

0.06

0.05

0.04
proprietary Ratio
0.03

0.02

0.01

0
2014-15 2015-16 2016-17 2017-18

 Interpretation :

In the SBI bank in 2014-15 proprietary ratio is good then this year that was
increasing and for some year that maintain that ratio.

65
 11.2 COMMON SIZE INCOME STATEMENT

COMMON SIZE INCOME STATEMENT

(2014-15 & 2015-16 )

(inCrores)

Particular 2014-15 % 2015-16 %

Total interest earned 207974.34 80.83 221854.84 81.30
Other income 49315.17 19.17 51016.18 18.70
Total income (A) 257289.51 100 272871.03 100
Expenditure
Interest expended 133178.64 51.76 143047.36 54.91
Payments to and 31117.61 12.98 32525.60 52.42
provision for
employees
Depreciation 1581.49 0.66 2248.15 11.92
Depreciation on 0.00 0.00 4.06 0.00
leased assets
Operating expenses 41148.91 15.99 38939.26 14.96
Provision towards 9386.84 3.91 5350.36 1.96
income tax
Provision towards -1049.64 -0.43 83.18 0.03
before tax
Other provision and 24408.29 9.48 37929.77 13.90
contingencies
Total expenditure 239772.14 93.19 260127.74 95.33
(B)
Net profit (A-B) 17517.37 12743.29
 Interpretation:

Here this statement showing that income figure was increasing year after year. And
operating expenses were decreasing by 1.03% .so that showing good progress of that
bank.

66
 COMMON SIZE INCOME STATEMENT

(2015-16 & 2016-17 )

(incrores)

Particular 2015-16 % 2016-17 %

Total interest earned 221854.84 81.30 230447.49 77.16
Other income 51016.18 18.70 68192.96 22.8
Total income (A) 272871.03 100 298640.45 100
Expenditure
Interest expended 143047.36 52.42 149114.67 49.93
Payments to and 32525.60 11.92 35691.21 11.95
provision for
employees
Depreciation 2248.15 0.86 2911.03 0.97
Depreciation on 4.06 0.00 3.65 0.00
leased assets
Operating expenses 38939.26 14.96 48684.18 16.30
Provision towards 5350.36 1.96 4842.56 1.62
income tax
Provision towards 83.18 0.03 -3507.06 -1.17
before tax
Other provision and 37929.77 13.90 61290.88 20.52
contingencies
Total expenditure 260127.74 95.33 299031.13 100.13
(B)
Net profit (A-B) 12743.29 -390.67

 Interpretation :
Here this statement showing that income was increasing year after year but
with that operating expense was also increasing that’s showing poor progress
of that bank. So that’s why this bank should try to control their expenses.

67
 COMMON SIZE INCOME STATEMENT

(2016-17 & 2017-18)

(incrores)

Particular 2016-17 % 2017-18 %

Total interest earned 230447.49 77.16 228970.28 74.69
Other income 68192.96 22.8 77557.24 25.30
Total income (A) 298640.45 100 306527.52 100
Expenditure
Interest expended 149114.67 49.93 146602.98 47.83
Payments to and 35691.21 11.95 35410.62 11.55
provision for
employees
Depreciation 2911.03 0.97 3094.39 1.01
Depreciation on 3.65 0.00 10.68 0.00
leased assets
Operating expenses 48684.18 16.30 57638.68 18.80
Provision towards 4842.56 1.62 1747.29 0.57
income tax
Provision towards -3507.06 -1.17 -9804.79 -3.20
before tax
Other provision and 61290.88 20.52 76015.08 24.80
contingencies
Total expenditure 299031.13 100.13 310714.93 101.36
(B)
Net profit (A-B) -390.67 -4187.41
 Interpretation :

In this year SBI bank’s income was increasing but their expenses were increasing
that’s why that’s showing poor result of that bank that’s why they should try to reduce
this expense

68
 11.3 COMMON SIZE BALANCE SHEET

COMMON SIZ BALANCE SHEET

(2014-15 to 2015-16)

(incrores)

Particular 2014-15 % 2015-16 %

Equity and liability
shareholder fund
Total shareholder 161387.54 5.60 180592.37 6.80
fund
Minority interest 5497.12 0.20 6267.40 0.21
Deposits 2052960.79 76.03 2253857.56 75.86
Borrowings 244663.46 9.10 258214.39 8.70
Other liability and 235601.11 8.73 271965.92 9.15
provision
Total capital and 2700110.02 100 2970897.64 100
liability
Assets
Cash & balance 144287.55 5.34 160424.57 5.40
sheet with RBI
Balance with bank 64299.02 2.38 43734.90 1.47
money at call &
short notice
Investments 695691.75 25.77 705189.08 23.74
Advances 1692211.33 62.67 1870260.89 62.95
Fixed assets 12379.30 0.46 15255.68 0.51
Other assets 91241.07 3.38 176032.52 5.93
Total assets 2700110.02 100 2970897.62 100
 Interpretation :This balance sheet showing that cash balance was increasing
with RBI. And balance with bank money at call decreased that’s again good
for bank but compare of these two things bank money at call was more than
cash balance that’s not good for bank
69
 COMMON SIZ BALANCE SHEET

(2015-16 to 2016-17)

(incrores)

Particular 2015-16 % 2016-17 %

Equity and liability
shareholder fund
Total shareholder 180592.37 6.80 217192.15 6.30
fund
Minority interest 6267.40 0.21 6480.65 0.19
Deposits 2253857.56 75.86 2599810.66 75.46
Borrowings 258214.39 8.70 336365.66 9.76
Other liability and 271965.92 9.15 285272.44 8.30
provision
Total capital and 2970897.64 100 3445121.56 100
liability
Assets
Cash & balance 160424.57 5.40 161018.61 4.67
sheet with RBI
Balance with bank 43734.90 1.47 112178.54 3.26
money at call &
short notice
Investments 705189.08 23.74 102780.87 29.82
Advances 1870260.89 62.95 1896886.82 55.06
Fixed assets 15255.68 0.51 50940.74 1.48
Other assets 176032.52 5.93 196815.98 5.71
Total assets 2970897.62 100 3445121.56 100
 Interpretation :

This balance sheet showing that cash & balance sheet with RBI reduced by 5.40 to
4.67 and balance with bank money at call increased by 1.47 to 3.26 that both are
showing poor result of this bank.

70
 COMMON SIZ BALANCE SHEET

(2016-17 to 2017-18)

(incrores)

Particular 2016-17 % 2017-18 %

Equity and liability
shareholder fund
Total shareholder 217192.15 6.30 230321.95 6.36
fund
Minority interest 6480.65 0.19 4615.25 0.13
Deposits 2599810.66 75.46 2722178.22 75.30
Borrowings 336365.66 9.76 36909.34 10.20
Other liability and 285272.44 8.30 290238.19 8.02
provision
Total capital and 3445121.56 100 3616433.00 100
liability
Assets
Cash & balance 161018.61 4.67 150769.46 4.20
sheet with RBI
Balance with bank 112178.54 3.26 44519.64 1.31
money at call &
short notice
Investments 102780.87 29.82 1183794.24 32.73
Advances 1896886.82 55.06 1960118.54 54.00
Fixed assets 50940.74 1.48 41225.79 1.14
Other assets 196815.98 5.71 236005.33 6.53
Total assets 3445121.56 100 3616433.00 100

 Interpretation :
This balance sheet also showing poor result as above result of this bank. Both
condition are showing their separately poor result that’s more affected bank at
wrong way progress.

71
72
 12.FINDING

 Since 2014-15 to 2017-18 constantly decreased net profit margin ratio.

 But their bank income ratio was increasing year after year.

 Since 2015-16 credit deposit ratio was decreasing constant till 2017-18.

 SBI bank Operating expenses were increasing alternate four years.

 SBI bank non operating expenses were increasing alternate four years.

 Cash at balance with RBI comparatively decreased from last three years.

73
74
 13. SUGGESTION

 The banks should motivate and impart right knowledge about banking to their
staff.

 The banks should bring new products/services based on the aspirations of

customers.

 The bank’s net profit last four years has been decreasing. The bank must
increase the net profit in future. The bank must steps to increase profit level.

 Non operating expense of the bank is high so the management should take
necessary steps to reduce the non operating expenses. The management should
take steps to reduce the depreciation and other provision and contingencies.

 Operating expenses also increasing year after year. The management should
take necessary steps to reduce the operating expenses.

75
76
 14. CONCLUSION

I also have found that , there is a very good commitment in the entire staff member.
After having all the required for preparing my report, I have tried to analysis each and
every function of the bank. During my report all the staff member of the bank had
well co-operated me.

I have tried to cover each& every information of the bank and after having
clear idea about everything in the bank, and with advance technologies and educated
staff to trying to positioning in the banking market. So at last I concluded that the
Statebank is being leader in the market and due to great leadership of chairman of
the bank, is getting great goodwill in the market and also great goodwill of the other
member helps to the bank in creating good image in the field of the bank.

77
78
 15. BIBLIOGRAPHY

Research Methodology N.K. Sahu 2013

Research Methodology Dr. N.K. Sharma 2014

http://www.sbi.co.in/

References :

1. Scholtens, Bert (2000), "Competition, Growth and Performance in the

Banking India", IBA Bulletin, Feb. pp. 1-13

2. R. Anuradha (2001), "Organizational Transformation-A Challenge to Banks

in India", Indian Economic Panorama, Special Banking Issue, p. 27

3. . S.R. Mittal (2001), Report of Committee on Internet Banking, RBI, New

Delhi, p 2

4. S.N. Bidani (2002), Managing Non-performing Assets in Banks, Vision

Books, New Delhi, p,19

5. Aditya Pun (2003), "Vision 25:25", Business India, April 14-27, p. 60

6. K. Eswar(2003), "Challenges before Banks to Manage Product Maturity

Stage: Suggested Strategy", Industrial Herald, August, 2003, p 25

79
7. . Pramod Gupta (2003), "Indian Banks-Going Innovative "October,
Professional Banker, ICFAI, Hyderabad, p 35

8. Abhiman Das and SaibalGhosh (2004), "Corporate Governance in Banking

System-An Empirical investigation". Economic and Political Weekly, p. 1263

9. T.UmaRaoMaheshwari and L.Hymavathi (2005),"Internet Banking in Indian

scenario ", Indian Journal of Marketing Vol. 35, no3, April.

10. Banga G, Bhatia.S and Kumar. B (2007), Menace of nonperforming assets

(NPAS) in non banking finance companies (NBFCS), Indian J. Acct 38, pp
42-50

11. Gulillen Mauro F, Tschoegi Adrian (2008), "Building a Glabal

BankTransformation of Banco Santander", Princeton University Press: p 280

80