Beruflich Dokumente
Kultur Dokumente
UNIVERSITY OF GUJRAT
Date of Submission
The most Beneficent and Merciful Allah who has always helped me in all
matters of life
Teachers for their guidance because I think both are essentials for success
in every stage of life.
GUJRANWAL
I also like to dedicate this report to my all friends because they encourage
and support me for completion my report.
Table of contents
S. no Topic Page#
1 Title page 0
2 Acknowledgement 1
3 Dedication 2
3 Table of contents 3 to 6
4 Executive summary of the Internship 07
5.1 Part 1 08
Introduction 08
5.1.1 Objective of the study 08
5.1.2 Base of study 08
5.1.3 Scope of the study 08
5.1.4 Importance of study 09
5.2 Overview of organization 09
5.2.1 Brief history UBL 09 to 10
Vision / Mission / Core Values 10
5.2.2 Na t u r e o f United bank limited 11
5.2.3 Business volume reward and success stories 12
Success story / Reward 12
5.2.3 Graphical explanation of business volume 13
5.2.4 Products and service 14
1 Consumer loan 14
1.1 UBL address (home loan facility) 14
Buying a home 14
1.2 UBL drive 14
New car financing 14
Used car financing 14
1.3 Business line 15
1.4 UBL cash line 15
2 Card product 16
2.1 UBL wiz 16
2.2 UBL Mega wallet reward 16
2.3 UBL premium debit master card 16
2.4 UBL Credit Card 17
UBL Credit Card 17
UBL Galleria 17
UBL PSO Auto Credit Card 17
UBL Platinum 17
3 Deposit products 18
4 Retail asset products 18
5 Omni (Branchless banking) 19
6 Other services 19
6.1 UBL Net Banking 19
6.2/6.3 UBL e statement / HAMRAH 19
5.2.5 PESTL analysis united bank limited 20
1 Political 20
2 Economic 20
3 Social 20
4 Technologies 20
5 Legal Factor 21
5.2.6 Roll of UBL in the economic development 22
Saving mobilize 22
Development projects 22
Development projects 22
Capital formation 22
Increase GDP 22
5.3 Organizational structure 23
5.3.1 Organization hierarchy chart 23
Board of directors of UBL 24
Audit committee 24
Human resource committee 24
Risk management committee 25
Chief financial officer 25
Company secretary/ Chief legal counsel 25
Auditors 25
5.3.2 Staff strength and number of employ 26
Graph of employ strength 26
5.3.3 Main office of united bank limited 27
Other branches in Pakistan 27
5.3.4 Departments of united bank limited 28
1 Accounts department 28
1.1 Current account 28
1.2 Saving account 28
1.3 Fixed account 28
2 Deposit department 29
2.1 Current deposit 29
2.2 Saving deposit 29
2.3 Fixed deposit 29
3 Foreign exchange department 29
3.1 Foreign currency account 30
3.2 Current account 30
3.3 Saving Account 30
4 Advance department 30 to 31
5 Remittance department 31
5.1 Mail transfer/Debit voucher/Credit Voucher 31
5.2 Telegraphic transfer 32
5.3 / 5.4 Demand draft / UNI remote / TEZRAFTAAR 32
5.3.5 Comments on Organization structure 33
Chain of command 33
Organization design 33
Specialist in field 33
Departmentalization 33
Formalization 33
Centralization 34
Control on employ 34
5.4 Part 2 35
Internee work 35
5.4.1 Introduction of branch 35
Employ in branch / Starting & ending time 35
5.4.2 Details of supervisors 36
5.4.3 Weekly timetable 37
First week 37
Second week 38
Third week 39
Fourth week 40
Fifth week 41
Sixth week 42
5.4.4 Detailed description of the departments 43
Deposit department 43
Remittance department 43
Advances department 44
5.4.5 Detail description of the working activity 44
1 Account Opening 44
Account opening procedure 44
Verification 45
Account opening form 45
Type of account 45
Nature of account 46
Deposit amount 46
Particulars of customer 46
Next of Kin 47
Operating information 47
Deduction of ZAKAT 47
Applicant signature 47
Service charges deduction 47
Specimen signature card 48
Documents required by customer 48
In case of individuals 48
In case of private/public company 48
In case of partnership 49
In case of agents account 49
Stamping & Scrutinizing 49
Affixed stamps 49
Documents 49
Account opening register 49
Letter of thanks 50
Issuance of pass book and cheque book 50
2 Deposit 51
3 Loose cheque 51
4 Account closing 52
5 Bank draft 52
6 Clearing of cheque 53
7 Mail transfer 54
8 Payment of cheque 54
Cheque acceptance 54
Entry process 55
Payment of cheque 55
9 Opening a locker process 55
10 Issuance of loan 55
UBL address 55 to 56
Mortgage 56
5.4.5 Description of the tasks assigned 56
5.4.6 Summary of learning 57
5.4.6.1 Skill and qualification 57
Public dealing 57
Find record 57
Calculation 57
Satisfaction of customer 58
5.4.6.2 Responsibility during internship 58
5.4.6.3 Internship will influence future career plan 59
5.4.6.4 Internship correlated with your classroom knowledge 59
6 Conclusions of the report 60
6.1 Summary of key conclusions 60
6.2 General observation 61
6.3 SWOT analysis 62
Strengths 62
Weakness 62 to 63
Opportunity 63 to 64
Threats 64
7 Recommendations & suggestions 65
Cash department 65
Clearing and bill department 65
Deposit department 66
Remittance department 66
4) Executive summary of the Internship
Six weeks internship program is more important in MBA because it is a way to enhance
our practical skills. During my intern ship I learn what is objective scope and importance
of study. In this way I learn about the united bank limited complete history. UBL perform
its function from 1959. Head office of UBL is situated in the Karachi. And more than
1200 branches in the Pakistan. UBL provide agency, general utility, loan issuance and
received deposit it also provide particular services and hajj related services to its
customers.
UBL provide consumer products which include UBL address UBL drive UBL business
and cash line. UBL provide card products such as UBL wiz UBL mega wallet UBL credit
card and UBL premium debit master card. UBL also provide deposit and retail assets
products.
UBL offer finance for business and agriculture that play impotent role for economy
development. In UBL all information travels down from top to bottom. 2012 annual
report of UBL shows its employ is 13056. In UBL different departments perform function
such as account, remittance, deposit, cash, and foreign exchange department.
In this report my learning show that how UBL perform different function in different
departments. At the end of the report I evaluate the organization according to my
learning and concluded my suggestions for the better performance of UBL branch.
Part 1
5.1) Introduction
For the purpose of receving master degree of business administration each student is
required to spend at least six weeks as a worker in a organization. Students must
perform work in which they have done their specialization main purpose of this program
is to make students quality best in the practical work.
United bank limited is the first government bank in Pakistan that performs function as a
financial institution in Pakistan. That attains market acknowledgment both by offering
quality and delivery of service.
The reason of its development was that the UBL in addition to being a commercial bank
in the public sector at a time when all other commercial banks were in the private sector
also come to acquire certain characteristics which to this day set it apart from other
commercial banks of the country.
It is a compulsory requirement for the master student for receiving master’s degree of
business administration.
Banks play a very important role in the economic life of a country that’s why they are
considered as the lifeblood of current economy today no one can reject the importance
of banking in the economy they facilitate trade and commerce and provide a variety of
services that one cannot imagine without banks.
I was chosen the united bank limited Gujranwala SHAHEENABAD branch for my
internship.
The banking system of Pakistan was boost up when the state bank of Pakistan was
established 1948 July 1. But a real turn took place in the banking section when a
famous banker Agha Hassan Abdi wants to open a bank. Dream of that person became
true when the first branch of United Bank Limited (UBL) was opened at Macleod road
now it’s called Chandigarh road Karachi. It establish on 7 November 1959.
The banks start performing function after passing through many problems and after
completion of legal formalities. United bank limited was established on 24 July 1959 as
a public limited company with head office at Chandigarh road Karachi.
1) UBL drive
2) UBL cash line
3) UBL address
4) UBL business line
5) UBL wallet ATM card
6) UBL business partner
The bank was privatized in 2002 through the sale of 51 percent stake to a group of the
Abu Dhabi group led by His Highness Sheikh Nahayan Mubarak al Nahayan and the
best way group lead by Sir Mohammed Anwar.
United bank limited is one of the largest commercial bank in the country. Their total
asset is more than Rs 282 billion.
Now united bank have 17 branches outside the country are in the United States of
America Qatar UAE Bahrain and republic of Yemen It also has representative offices in
Tehran Iran and Kazakhstan It has subsidiaries branches in the UK and in Zurich
Switzerland.
Vision
“To be a world class bank devoted to excellence and to better the highest expectations
of our customers and all other stakeholder”
Mission
“Set the top industry standard for quality across all areas of operation on a sustained
basis optimize people process and technology to deliver the best possible financial
solution to our customers”
Core Values
Sincerity and truthfulness
Promise and dedication
Fairness and meritocracy
Team work and collaborative spirit
Humility and mutual respect
Caring and socially responsible
5.2.2) Na ture o f United bank limited
The bank was incorporated in Pakistan and is engaged in commercial banking and
related services. UBL is listed in 3 stock exchanges of Pakistan.
They have Islamic banking branches, principal activities are to provide commercial
banking and other financial services.
These services include deposits savings current account vehicle loans personal loans
retail trade finance global banking lending to priority sector and small scale sector
foreign exchange and export finance and equipment loans.
o Agency services.
o ATM services.
o Remittance services.
1,000,000,000
900,000,000
894,398,652(T.A)
803,234,826 (T.L)
800,000,000
778,059,741
700,000,000
698,906,833 698,784,979
619,716,433
630,369,914 605,539,341
600,000,000
561,676,582
558,779,710
500,000,000
T.A
400,000,000
T.L
N.A
300,000,000
N.P
200,000,000
Business partner.
Business partner plus.
Rupee transacting account.
UBL UNI flex
UBL UNI saver.
Basic banking account.
First miner saving account.
5.3) HAMRAH
UBL has always identifying and fulfill the financial needs of its customers. UBL was
introducing rupee traveler cheque facility in Pakistan. In continuation of the same
tradition UBL in the shape of “HAMRAH” rupee traveler cheque enhances this facility for
the convenience of its valued customers by offering value up to Rs 10000.
2) Economic
Market of Pakistan defines a general shoe down and many businesses involve in
negative growth there for economic issue impact on the expansion of the financial
sector.
Rise in inflation lead.
Decrease in the money value in the market .
Customer of UBL bank demand high profit .
Literacy rate.
3) SOCIAL
98 percent people are Muslim and think interest is a bad in their religion .
Pakistan many people does not use the banking channel in their business
transaction they dont know about the UBL bank product.
4) Technology
In Pakistan technology change rapidly there for not only UBL other financial institution
or banks spend more money on technology.
UBL pay for new system for interpretation between quantitative and qualitative.
UBL also increase its banking software waste millions on it.
UBL also set up wiz card that perform function like credit card.
5) Legal Factor
Legal changes also effect the UBL environment some of factor affect it
PESTL
5.2.6) Roll of UBL in the economic development
Banks play an important role in the economic development of country. If banking system
of country is not equal to economic requirement then it cannot play vital role in our
development all banks in Pakistan have to follow the rules and regulation of state bank
of Pakistan.
Saving mobilize
The United bank limited has opened branches in urban areas and rural areas to
mobilize savings of people. And it play very important role for the economic
development.
Development projects
UBL and other financial institutions give short and medium terms loans both public and
private sector for development projects. It increases the rate of progress in one country
and develops the economy.
Capital formation
UBL developed baking system stimulates the growth of economy by creating favorable
and valuable climate for capital formation in the country.
Increase GDP
UBL offer agriculture loan financing is available for all seasonal crops across Pakistan
With over 20 percent of Pakistan GDP accounted for by agriculture. Therefore UBL
provide loan for the purpose of increase GDP because it play very important role for
economy development
5.3) Organizational structure
5.3.1 Organization hierarchy chart
Board of Directors
Executive Committee
President/CEO
SEVP
EVP
SVP
VP
AVP
Office Grade 1
Audit committee
Auditors
M/s. BDO Ibrahim and co chartered accountants.
Employees
16000 15043
14000
13056 13982
12325
12000
11573
10000
8000
employ
6000
4000
2000
0
2012 2011 2010 2009 2008
United bank limited of Pakistan main office in Karachi (Head Office) and in Islamabad
(Registered Office)
Head office is situated in Karachi at state life building no.1 Chandigarh road Karachi
74000 Pakistan.
Registered office is situated in Islamabad at 13th floor UBL building Jinnah avenue
blue area Islamabad.
UBL other branches in Pakistan
United bank established different departments for the purpose of performing different
function these are the departments in UBL
UBL perform different function under these departments for the benefit of the people.
1) Accounts department
Accounts department of UBL maintain customer accounts in accounting book is called
cash book. Cash book safe record of cash payment and cash received. Ledger and
journals maintain by computer.
In Pakistan one person can easily open a saving account with small amount and
cheque book is issued for withdrawals return is also pay on yearly base. Depositor is
bound to give the notes before two weeks of withdraw money in large amount. Minimum
amount is fixed by bank to put the account in running position. In which bank also
impose condition to withdraw money on a specific limit.
In which account deposit can be withdraw at any time account holder hold a specified
amount of money for specific period of time this amount cannot withdraw by cheque.
Bank gives specific interest which is decided at the time of account opening.
One individual partners and companies can maintain this account the period of deposit
held by 3month to 60month.
1) Deposit department
UBL receive surplus money from its customer deposit is life blood of the bank. A bank
cannot run business without deposit. UBL receives deposit in 4 accounts such as
current account, saving deposit, fixed deposit, and call deposit.
In Pakistan saving deposit account must be open by small amount with the cheque
book depositor can withdraw money return is paid on six months basis customer
withdraw money 2 time in a week. Customer gives notes before two weeks for large
amount withdrawal.
In which customer deposit money for specific future period of time bank offer different
rate of return on deposit it depend on the deposit duration.
This deposit also called term deposit. Because account holder cannot operate like other
accounts bank give only a receipt on fixed deposit. Pass book cheque book slip book
are not issued.
UBL its foreign exchange department perform function as per (SBP) regulations. The
(SBP) have full control on the foreign exchange business. No transaction is passed
without permission from the (SBP) under foreign exchange control Act 1947.
Any transaction in the international banking shall be fallowed rates set by the (SBP).
(SBP) fix the rate of US dollar with other currencies.
UBL offer the facility of foreign currency account in four currencies which are US dollar,
Japanese yen, German mark, and UK pound.
UBL provide this facility both for Pakistani citizen. Procedure for opening a currency
account is similar to opening a local currency account the account may be an individual
or joint account.
3.3)Saving account
UBL offers a very high rate of return foreign currency saving accounts profit is paid in
currency in which is opened this account is also exempted from ZAKAT and taxes.
Inward outward remittances facility is also granted to the customer.
3) Advance department
Major function of the bank is to advance money to the clients. This function of the bank
contributes to increase the revenues to the bank.
Commercial finance
Agriculture finance
Industrial finance
Export and Import finance
UBL also advance money to small size businesses and construction companies. Many
UBL branches are having departments for granting advances to the borrowers.
5) Payment of loan.
UBL make advances in the following ways such as cash credit, discounting bill of
exchange, over draft.
4) Remittance department
This department is concerned with the transfer of money from one place to another.
Money is transfer from one place to another by mail if the person has account then the
banker debit his account with the amount of money he wants to transfer. Bank officer
will prepare the necessary vouchers to make the mail transfer
Debit voucher
Debiting the account for the amount to be sent and charged the commission and
postage.
Credit voucher
Person who wants to remit money goes to the bank and fills the application form. Fill the
name of the drawer branch amount and the payee name. Amount to be deposited with
the cashier with the commission it is signed by two officers and is then handed over to
the applicant.
It is the faster way of transfer money from one bank to another in country you can
transfer amount from one city to another city in few time without any commission.
In which transferor account are debited and the transferee account are credited. Online
transfer makes business faster.
Chain of command
In UBL lower level management fallow the upper level management order. In UBL all
employ responsible for their work and responsible for repot to the management. This
shows that line of authority from top to bottom in UBL.
Organization design
United bank limited design is very good because technical and train staff separate
departments spans of control high formalization good information network. All branches
connect each other through internet. All decision are made by top management
Specialist in field
In UBL all employ is specialist in there on field they perform work in their own
departments and not interfere in others. For example account department officer only
responsible for minuteness of accounts.
Departmentalization
In united bank limited all employ perform work in functional department all department in
UBL divided according to their function. In which there is less chance of mistake.
Formalization
UBL employ are specialized in their work and united bank hire only those people that
are highly trained and technical skill are high. UBL put right person on right time on right
place.
Centralization
In UBL top management such as director CEO make all decision about banks. There for
we say that success of UBL behind these decisions that is take by top management.
Now UBL is second largest commercial bank in Pakistan.
Control on employ
In UBL manger are highly trained and skilled they efficiently control large amount of
employ in the organization in one department like account department one manger
handle number of subordinates.
Chain of
command
Control on Centralization
employ
UBL
Specialist in
Formalization field
Department Organization
alization design
Part 2
Employ in branch
I start my internship from UBL all employ are honest and kind and give me detail
information according to my requirement. But Mr. M. Waqar Pasha supervises me
during my internship he is MBA from University of Punjab Lahore after this he start
practical work in UBL.
Supervisor Position
Mr. M Waqar Pasha Customer service manager
Mr. M. Motasim Manager
Mr. Israr Mehmood Cash in charge
5.4.3) Weekly timetable
First Week
Name Organization
SYED UMAIR ALI SHAH United Bank Limited SHAHEENABAD
Roll Number Branch Code
11014220-005 759
From 17-07-2013 to 23-07-2013
DAY DATE DETAIL
When I enter in the bank I feel shay. Because it is my first
Wednesday 17.7.2013 experience. I don’t know how to perform work in the bank.
After this I met with Mr. M. Waqar and asked some question
about myself like my name father name address and about
my study.
After this he introduce me with all staff and I feel confidence
after mating with all members. And give me ruff idea about
my work like deposit department account department and
how to open an account.
In second day my supervisor M. Waqar tell me about my
Thursday 18.7.2013 task and completely guide me how can perform it. In this day
I learn about cash voucher. And how can we fill it
In this day I learn about cheque voucher. And how can we fill
Friday 19.7.2013 it.
Cheque received from a customer pass the entries in the
Monday 22.7.2013 register
I fill a deposit voucher for the customer
Tuesday 23.7.2013 This day I learn who can I issue a cheque book
Second week
Name Organization
SYED UMAIR ALI SHAH United Bank Limited SHAHEENABAD
Roll Number Branch Code
11014220-005 759
From 24-07-2013 to 30-07-2013
DAY DATE DETAIL
Friday 26.7.2013 This day I learn the complete procedure of account opening.
Monday 29.7.2013 I learn about opening of new account for the customers.
Tuesday 30.7.2013 This day I again perform my previous task account opening
Third week
Name Organization
SYED UMAIR ALI SHAH United Bank Limited SHAHEENABAD
Roll Number Branch Code
11014220-005 759
From 31-07-2013 to 06-08-2013
DAY DATE DETAIL
Thursday 01.8.2013 This day I fill up cheque and cash voucher for customer.
Monday 05.8.2013 Posting the cheque in register and tally with cashier
Tuesday 06.8.2013 Receive the cheque books and make their entries and learn
the procedure of remittance
Fourth week
Name Organization
SYED UMAIR ALI SHAH United Bank Limited SHAHEENABAD
Roll Number Branch Code
11014220-005 759
From 07-08-2013 to 13-08-2013
DAY DATE DETAIL
Thursday 08.8.2013 This day I learn clearing procedure and also perform regular
activities.
Name Organization
SYED UMAIR ALI SHAH United Bank Limited SHAHEENABAD
Roll Number Branch Code
11014220-005 759
From 14-08-2013 to 20-08-2013
DAY DATE DETAIL
Tuesday 20.7.2013 Fill the demand draft for customer and filling up cash
voucher.
Sixth week
Name Organization
SYED UMAIR ALI SHAH United Bank Limited SHAHEENABAD
Roll Number Branch Code
11014220-005 759
From 21-08-2013 to 27-08-2013
DAY DATE DETAIL
Wednesday 21.8.2013 I learn about pay order. And also pass the entry in cash
book.
Monday 26.7.2013 I learn about UNI remote and perform routine activity
Last day of my internship I meet with all staff and say thanks
Tuesday 27.7.2013 to all supervisors who help and guide me in my internship
period. And learn me about practical life and give me some
suggestion.
5.4.4) Detailed description of the departments
1) Deposit department
I start my internship in deposit department. For all banks deposit department is very
important. When I perform work I feel without this one bank cannot generate money.
Money play vital role for bank success. As it is include the following activities.
Account opening
Account closing
2) Remittance department
Mail transfer
Telegraphic transfer
Demand draft
UNI remote
3) Advances Department
Advance department this name show its function in this department where bank
advance money to the people who need the money for business purpose or personal
use. UBL introduces 5 kinds of advances. UBL makes advances of these types.
Commercial finance
Agriculture finance
Industrial finance
Export and Import finance
1) Account Opening
I obtain the knowledge during my internship about account opening in bank. This
department of UBL deals with opening current fixed and saving account for its different
types of customer. UBL deal also these types of customers in this department.
Individual
Firm
Company
Business man
Salaried person
Investor
Middle man
Account opening procedure
Verification
This is the first step for account opening. Customer is bound to provide high level of
satisfactory information to the bank who wants to become bank customer. For this
purpose bank required national identity card.
And customer is bound to give some reference of such person who has account in UBL
for opening an account.
Some important information is required from introducer for example name and account
number of the introducer. And verification letter which is sent by the bank to introducer.
This form required some important information from customer which include.
UBL also offered services to its special customer such as proprietorship account it may
be registered or unregistered. And company account it may be public or private.
Account for clubs societies and associations. Account of corporate body it may be
incorporated unincorporated.
Deposit amount
1. Pak Rs.
2. US $
3. UK pound
4. EURO
5. Dinar and Saudi royal
Particulars of customer
In which UBL demand some information from its customer about such as.
1. Title of Account
2. Address
3. CNIC Number
4. Profession
5. Telephone number may be of office, mobile or residential
Next of Kin
In which UBL demand a reliable person from customer because if the bank fails to
communicate with the customer then bank can contact with the next of kin and that
person must inform the customer and customer provides in which all the personal
details of the next of kin.
1. Name of person
2. CNIC Number
3. Address
4. Telephone number etc.
Operating information
Deduction of ZAKAT
ZAKAT t is deducted on every type of account accept current account. In the first day of
the Ramadan at the rate of 2.5 percent ZAKAT is deducted from saving or fixed
account. If customer wants no deduction then he has to submit affidavit as on ZAKAT
rules.
Applicant signature
In which bank demand signature from customer and customer is bound for it.
In this category customer is bound to pay the services charges and bank deduct service
charges on banking rule. Service charges are exempted for pensioner student widows.
It is ruling of state bank of Pakistan all the banks to deduct service charges on all types
of accounts when the balances less from Rs 5000 then bank deduct Rs 55 per month
from the customer account. There for Rs 5000 is the minimum amount which should be
kept by the customer.
Specimen signature card
UBL bank required specimen of signatures will from depositor at the time of opening his
account. A specially designed card is used for this purpose.
For illiterate person a new photo of the newly account holder is taken and attached with
specimen signature card for the purpose of reduce the risk of frauds an illiterate person
the specimen signature card and account opening form both are stamped.
Documents required by customer
1. Copy of CNIC
2. Copy of driving license in case CNIC is without photograph
3. Proof of age in case opening of account with minor
4. Applicant photograph
5. Copy of service card
6. Photographs in case of illiterate person
7. Copy of CNIC of next of kin.
8. ZAKAT exemption declaration
1. Application form
2. A photo copy partnership deed
3. Partners signature cards
4. Photo copy certificate of registration
5. National identity card of each partner
UBL bank required power of attorney copy each agent ID card photo copy in cause of
agent account.
Affixed stamps
UBL attached know your Customer form (KYC) summarizing the context of (AOF)
briefly. And signature card for the purpose of identification and verification of signatures.
Order: - A person appears in the bank himself for new cheque or who is the holder of
account. Is called order cheque.
Bearer: - If the person appears in the bank other than account holder then he is bearer.
Rs. 3 per page as postage charges is charged by bank. A cheque book register is kept
to enter the name of the person having cheque book. Customer can withdraw amount
by signing a cheque and writing the amount that he wants to withdraw from bank
account.
Pass Book
Pass book is another important book hand over to the customer who has opens the
account in the bank. In which all translation are recorded date wise.
Bank officer records the name and amount deposited with the bank in to general ledger.
Different types of ledgers are maintained for different types of accounts for example
current account ledger, saving account ledger, fixed deposit account ledger, call deposit
account ledger
When the customer will deposit money amount will be credited in general ledger and the
withdrawal will be debited entry in this ledger
2) Deposit
Deposit play vital role for bank it is the life blood of the bank and the customer open an
account in the bank for deposit and it is its main purpose for opening account in the
bank.
3) Loose cheque
If a customer forgets or leaves his cheque book at his home and its home is situated
very long distance or whatever the case may be then customer demand from the bank
for the issuance of loose cheque because he does not has cheque book with him and
he want money urgently this type of demand is called the loose cheque.
UBL issues a loose cheque but collect Rs 200 as charges for the issuance of the loose
cheque.
4) Account closing
For the purpose of closing of an account customer must submitted an application for
closing an account. When the account is closed then all amount in the customer
account is hand over to the customer and bank deduct charges Rs 250 and the
application is put in account closing file and remaining cheque book will also be
collected by bank from the customer.
5) Bank draft
Bank draft is the type of cheque which is drawn by one bank to the other bank in one
city or one country. The procedure of opening a bank draft my supervisor tells me how
to open bank draft. These are requirements for opening a bank draft. The person who
wants to open the bank draft it must submit.
Photocopy of ID card
After receiving the CNIC card at that time to receive information about the bank
on which we draw the draft.
He tells bank name and code of branch.
Then cash voucher are filled up with 10 Rs as FED and Rs 50 for the charges.
After completing the cash voucher I received the voucher.
Fill up it with information which is required for fulfillment of the bank draft.
Write the name of the bank on draft which is issued for bank.
And the amount collects of the draft and with charges Rs 50.
After completing the draft voucher attach the cash voucher with draft.
CNIC copy with them and give these documents to the officer which is
responsible for the bank draft.
After verification by officer they send voucher to the cashier for the receipt.
And in last officer receives the amount of draft and it time to issue the draft to the
customer.
6) Clearing of cheque
Clearing check is give back to bank when some mistakes are found it may be not
properly signed amount does not write correctly. When the cheque is back to bank then
bank ducted the amount of that cheque from the register customer is backed to bank for
the confirmation and manager tell the reason to the customer about failure of cheque.
7) Mail transfer
If we received a mail it means that a person sent money to the home country Pakistan
from outside the country in this way they send some money to his relative friends and
other person who live in Pakistan. Exchange union received money from the sender and
writes a note that UBL branch where the person is wanted to send money. Exchange
union write the country name bank name branch name and the account holder name on
that request and note. Then it sends to Pakistan head office and they send it to UBL
branch for the payment. We received this request note and put it to the mail transfer
register with the amount received and according to date name account number to which
it is transfer. And make a cash voucher according to this amount and enter in register.
This is the easiest way of amount transfer from foreign country to home country.
8) Payment of cheque
In which the cheque is paid to the party who are owner of the cheque. The cheque is
paid by the following procedure.
Cheque acceptance
When the cheque holder gives the cheque to the banker then bank officer must be
check very carefully following things in the cheque.
The cheque must be drawn on the united bank limited and its branch.
Date must be written correctly and no mistake any kind.
Write the amount very carefully in words and figure.
Signature must be matched with specimen signature card.
In case of big payment must be verified that this is the right person who received the
amount of chaque.
If there is any mistake in cheque then the bank officer stops the payment.
When all verified are correct then cheque is sent to the computer operator for
making entry.
Entry process
When (cash officer) pass the entry then enter the account number on the computer. And
check the account balance and match with the cheque amount after confirmation that
the amount in account holder account is sufficient for payment then he affix stamp place
on chaque and cheque sent to the cash department for payment of cash to the cheque
holder.
Payment of cheque
After receiving cheque from the customer cash officer check the amount of cheque. If
the amount is big then take the permission from manger if the manger give the
permission for payment then casher start counting cash and make the entry on the cash
payment register.
United bank provide locker facility to its customer and customers keep their secrete
records and useful important documents in safe custody for future use. Person who
wants to open a locker in the bank they must having an account with bank.
UBL address
United bank provide home loan to its client. UBL aims to make your decision easier by
offering you the right ingredients for buying a home. UBL Address gives the power to
feel proud become owner of a home.
Buying a home
Buying a home of your choice has never been so easy you can easily buy a house that
best fits your requirements. In maximum financing limit is 80 percent.
Mortgage
In which type of UBL issued loan to the customer after receiving document of the
property. Bank kept these documents the payment of the loan is baked from customer.
If the nature of property is agriculture nature then it is issued is equal the price of the
property for an example if property is for Rs 3000 then a loan is issued for Rs 3000 and
not more then it value. In case of commercial property the loan is issued more than its
value for an example a property value is of Rs 7000 Rs but loan is issued for Rs 10000.
Preparation of voucher.
Public dealing.
During my internship period I learn so many skills and generate knowledge. I learned
how the practical field play role in over life I think it’s very difficult part of life. I learned
that how we can perform work in the field where every person has its own
responsibilities. I enhance the following skills and qualifications during my internship
period in UNITED BANK LIMITED.
Public dealing
When a customer came to the branch my supervisor call me and say to me handle this
person some time customer only asked to me what is opening and closing timing of the
bank. Some time asked how I can open an account in your branch I always guide him in
every matter with good behavior.
Find record
It is the most important skill that I gained from my internship program. I learn how I can
find a register from data room. Mostly I help my supervisor to find it. Some time I
perform work for the arrangement of record in proper manner such as in account
number. I also learn how we can reduce the calculation mistake.
Adding up
This is very important skill that I gained during my internship period. I calculate the
receipts register with the help of calculator more than one time in order to check the
balances is equal. In first week I involve in some mistake but as the passage of time my
calculation skill is increased are my calculation being correct and matched with cash
register. This process improves my calculation speed.
Satisfaction of customer
This is the most important skill that I generate from six weeks internship program from
UBL. When customer comes in bank mostly I deal this person. For an example they
want to open an account in our branch I tell him whole procedure of account opening
and also tell about the benefits and completely satisfied the customer. Because when
he says thanks to me and I think this person is satisfied.
These are the responsibility assign to me from my supervisor in UBL six weeks
internship program.
o Preparation of voucher.
o Public dealing.
Six week Internship is most important for my future career planning. I think that
Internship is not too much for future career plan but I can say that 30percent help full for
me because six weeks internship duration is not enough to learn everything. But with
the help of this opportunity I understand that what is professional and practical life and
how we can live in the professional life and what kinds of problems we face in our life
and how can us handle these problems.
I feel that six week internship will be influence on my future plan with the help of this
experience. I will improve myself for get good and high ranking job and to become
successful employee in any field.
This six week internship program is helpful for me to get a good job in my desired field
because during my internship I build personal relation with different people and these
relation will helpful for me in future to get a job in desired field.
Internship activity is more different from class room regular knowledge Internship
activity provide place where you make practical of your study that you learn in your
class room. The teacher gives you knowledge but say that you can find its importance in
practical life. We say that in class we learn theories but implementation in practical field.
I perform my internship in bank so those term that I study in class rooms but not
understand at the time of internship and after internship I understand what actually
these terms means. For example I study in management book roles of management but
I cannot understand these roles during study but when I start internship in bank I see
manger as leader when he is working with staff I see its behave, body language
communication other things and skills. Such as how they can handle problems
Therefore I say that both things theories and practical are important when they apply
together.
6) Conclusions of the report
I derived so much knowledge and skills about practical field during my six weeks
internship program. I have learned in this period about activities of UBL their working
style in different condition values and norms of the UBL and its management style and
organization records keeping system.
This internship opportunity is very helpful for me because I understand what are bank
and its purpose. And I improve myself about bank to get a better job. I also conclude
that Internship experience is very good but six weeks are not enough to learn everything
because in bank most of the things are more problematical and we cannot understand
very quickly or in one time.
6.2) General observation
It is bank in which I done my internship. Its name is UNITED BANK LIMITED and it
performing function from 1959. It is a private bank and second largest commercial bank
who provide services. And its perform function under the state bank of Pakistan rules
and regulation.
It is very old bank of today time there are so many banks in Pakistan which are almost
privatize but its services and products or more good and attractive from other banks
such as HBL, Allied commercial bank, Punjab bank, Muslim commercial Bank and so
on.
The private banks such as Muslim commercial bank, Allied commercial bank, Bank of
Punjab are also now providing service to their customer in very different way but UBL
provides service to its customer in different and batter way. Because with UBL we say
that (where you come first)
Other private banks such as HBL, Allied commercial bank, Punjab bank, Muslim
commercial Bank are providing services to their customer as online service and daily
cash balance. These private banks are competitors now a day to the UNITED BANK
LIMITED. In this condition UBL can get benefit only when they provide better service as
compare to other banks
We know that banks is a major leader for Pakistan economy the basic reason behind is
that banking sector contributes to total GDP is around 20 percent.
6.3) SWOT analysis
6.3.1) Strengths
Software; UBL develop its own software these are help full in record keeping. UBL also
sells this software to other and earn money.
Network; UBL has large network in Pakistan and outside of Pakistan in which most of
the online branches. In Pakistan UBL perform function in 21 regions.
Attractive products; UBL has many attractive products such as card products loan
products retail asset products.
Good location; Most of the UBL branches in good location and in beautiful building and
it play important role for the attraction of customers.
Credit rating; UBL has good credit rating A+ in short term and AA in long term. It create
positive image in customer mind those want invest in it.
ATM Help line; UBL has help line for ATM users it is open 24 hours for user and they
can easily submit his complain and problem too directly to head office.
Team work; In UBL all officers perform work as BDO participate in every work to
achieved targets. Whole staff works together as team in UBL.
Advances & investment; UBL annual report shows that UBL give more preference to
advancing loan and investment.
6.3.2) Weakness
Employees; In UNITED BANK LIMITED employees are not well grooming as compare
to other commercial banks in Pakistan.
Restricting; In UBL restructuring the number of employees too much fire especially in
big cities.
HR officer; In UBL there are no human rescores officers in UNITED BANK LIMETED of
hub level.
Dependency; UBL mostly depend on one market for deposit and not take any
organized step.
UBL drive; UBL car drive takes nominal share although it has larger network this are
due to they not entertaining land lord.
6.3.3) Opportunity
IT program; UBL have well experienced IT programmer they can make their own ATM
network.
Promotion; UBL give promotion to their old and well experienced employees. Reason
behind to become more loyal.
Large network; UBL has large network in Pakistan with the help of this it can get more
and more benefit from restructuring.
Chip credit; UBL has opportunity they can increase market share with the help of chip
credit card and with the help of (U) Phone Company.
Online branches; UBL has large network but all branches are not online it has
opportunity to become all branches online then its business should boost up.
Overseas branches; UBL has overseas branches. In these country UBL not face
competitor as compare in Pakistan.
6.3.4) Threats
Well experienced; In UBL well experienced employees leave UBL because they
receive good offer from other banks.
New customers; UBL face competition to attract new customers with the privatization
program that began in 1991 so five NCB and three DFI become privatized and have
new private banks were setup.
New technology; This age is competition there for other banks adopt latest technology
UBL need to spend more finance for new and latest technology.
Political environment; In Pakistan political conditions are not good and not stable it
creates bad effect on UBL customer.
7) Recommendations & suggestions
Recommendations and suggestion are based on the previous sections of this report and
internee works in any organization or in any company. In which I find some weaknesses
and threats give some suggestions for its improvement and implement.
During my six weeks internship I observed the overall UBL system is well and
management and employs fallow the rules and regulation but I think during my work
there is a need of improvement in some departments.These are the recommendations
and suggestion is needed in various departments of UBL SHAHEENABAD branch.
1) Cash department
In which there is a special need to make the cash counter big because many
function perform on one counter. It create problem for regular customer.
Increase the time for accepting and withdrawing cash for those people who come
from long distance from bank and find cash counter is closed for transaction.
2) Clearing and bill department
The following suggestions and recommendations are made for this department. I
observed some mistakes during my internship period.
In which officers pull together bills for clearing do not involve her with the bank other
operation and continue stay on the very same post this create hurdle for bnak
success. Therefore it needs to give equal opportunity to all employ for career
development.
There should be need of job rotation for employees mostly in this department. By
this way we can increase the skills and capability to perform the work of employ.
3) Deposit department
The analyses show that UBL has the low share of deposits as compare to some other
banks in the market. We know that money is lifeblood for every business as it is
deposits are the lifeblood of a bank therefore it should be need to attract more
customers for high deposit.
UBL need to make the procedure of account opening simple. The (A-O-F) should be
in easy wording because everyone easily understands all terms and condition.
It also includes Urdu translations form for those customers who are not well read
english.
For the purpose of account opening only account opening form is enough there is no
need of any other application it just time consuming process.
UBL must need to give some more incentives to those people who deposit large
amounts of money.
UBL must need to give free credit line facility up to a certain limit to its old and
regular customer.
Performance appraisal policy is available in UBL documents. But not implemented.
There should be need to implement for those employs who complete its deposit
target.
4) Remittance department
In UBL there is no special table and counter for this purpose when need to made a
draft and mail it should be made on cash counter it make disturbance for other
customer who are on cash counter
Those people who received money from out of country bank required conformation it
has a proper process but this process takes long time. In this cause bank lose its
good will day b day. There is needed to make a faster process.
8) References
http://www.pakbanks.com/tag/types-of-bank
https://www.ubldirect.com/Corporate/AboutUs/vision.aspx
http://en.wikipedia.org/wiki/United_Bank_Limited_Pakistan
http://www.interflow.com.pk/outdoor_3.html
http://www.pakistanbanks.org/members/networks/ubl_network.html
https://www.ubldirect.com/corporate/AboutUs/AboutUBL.aspx
http://www.scribd.com/doc/22473881/United-Bank-Limited-UBL-HRM
https://www.ubldirect.com/Corporate/BankingServices/ConsumerLoans.aspx
https://www.ubldirect.com/Corporate/NRPServices.aspx
https://www.ubldirect.com/Corporate/InvestorRelations/FinancialStatement.aspx