Company Overview.

1.1 Company profile:

During the early period of financial sector reforms, a number of expertise people who are highly

successful local entrepreneurs, they brought the idea of making a commercial bank with different

outlook. From their perspective, it was competence, and excellence delivery of service with

superior value products. The Prime Bank was incorporated its business on 17th April 1995. The

investors of prime bank Ltd are in the field of trade and commerce. Prime Bank is being

managed by a dedicated team who are highly expertise with long experience in banking. They

constantly target on satisfying customer needs. As the market is changing so is the bank and it

repositions itself in the changed market. Within very short period of time Prime Bank has already

made significant progress and proved its existence. The bank has achieved internationally

accepted CAMELS rating and also has been a top class bank in the country . The Bank offers all

kinds of Commercial Corporate and Personal Banking services following Banking Act and rules

and regulations imposed by our central bank. Their prime goal is to Diversify of products and

services which include from industry to agriculture, and real state. Prime Bank is always ahead

of more innovative and uses modern technology integration to provide better services. PBL has

145 branches and 3 Offshore Banking Units in Bangladesh. To full fill needs of customer Prime

Bank has developed unique insights, which focuses on Small and medium sized enterprise

(SME) or large corporate and has consistently demonstrated the ability to offer innovative

solutions for all.

2.2 Core values

Core values
DELIVER
Prime Bank Limited wants to provide high standards facility for their clients
and shareholders. They are passionate to serve the financial needs of people,
companies and institution.

COMMITMENT PBL are fully committed to achieving success for their customers by
maintaining regulatory guidelines set by top management.

TRUST PBL have trust in their team and work together to deliver the full capabilities of
Bank to all of their constituents. They continuously thrive to be consistent in
providing best services to customers

SUCCEED PBL consider succeed only when our customers, communities are benefited.
They do business in a sustainable way.

VISION

To be the best Private Commercial Bank in Bangladesh they maintain strong liquidity by

attaining adequate level of capital, asset quality, sound management and profitability.

Mission

In order to build PBL build Prime Bank Limited into customer focused institution with good

corporate governance structure and constant improvement of their business policies, through

integration of technology at all levels.

Management structure: For efficient management of the bank there are different committees

involved which are discussed below:

 Boards of directors: They are the only authority to take decision about the affairs of the

bank. Currently Prime bank Ltd has 13 directors and all the directors have adequate

academic background and have vast experience in banking. Azam J Chowdhury is the

chairman of the bank. The board of directors holds meetings on a regular basis.

 Policy Committee: The policy committee deals with matters related to the banks business

development, products and any sort of policy related to Prime Bank Limited. It seats after

every two weeks.

 Executive Committee: Executive committees are responsible for overseeing the daily

implementation of board policies and they make sure that the board is keeping good

governance practices. These activities include overseeing the company’s policies on

ethics, quality management, human resources and regulations.

Organization hierarchy:
 TEM ox iepd c mul e tia vn eal gm e am n ea ng te m e n t
J u n io r L e v e l m a n a g e m e n t
Services of prime Bank limited:
On-line Banking: The Prime Bank Limited has provided online banking facility to its customer

by building an extensive network across the country and this network is called WAN (Wide Area

Network. Through this system client can able to do banking transaction with any Prime bank

branch very efficiently and without any interruption. Following transaction can be done through

this On-line Banking system.

 Cash withdrawal.

 Cash deposit.

 Transfer of money.

 Payment order.

SWIFT Service: The Prime Bank Limited has attained the membership of SWIFT (Society for

Worldwide Inter-bank Telecommunication) earlier than any other banks. This network is used by

financial institutions use to securely send information and instructions through a standardized

system of codes and provide first and accurate communication network. Some transaction done

using SWIFT services are Letter of Credit, Fund Transfer etc.

Islamic Banking: With the fact that Islamic Banking industry is rapidly growing in Bangladesh

and has accomplished in excess of 20 percent yearly development. To obtain the true abilities of

Islamic banking in the year 2008, the bank has taken initiative to identify all of its Islamic

banking activities by introducing Islamic products and services of the Prime Bank. It is found

that the investment and deposits grew by 38% and 89% respectively in the year 2017. The

operating profit of Islamic Banking Branches grew by 45% during the Year.

The three Islamic products of Prime bank are:

 Hasanh Depsoit Products

  Hsanah Investment Prodcuts

 Hasanah Foreign Trade

SMS Banking: PBLSMS banking system provides customer notification about their financial

transaction each time they encounter any transaction of your Prime Bank Account. It is simple

way to tab about your account's daily or monthly balance. With Prime SMS banking service

customers don’t have to wait for statement to arrive through mail nor have or call up branches to

inquire about balance so once you become a member of SMS Banking you will have 24-hour

access to the key financial information.

Retail Banking: The bank has an adequate risk diversification strategy. To expend the lending

activities in this sector they provide various loan schemes like Home Loan, Loan against Salary,

Marriage Loan, Car Loan, Hospitalization Loan, Education Loan, Doctors Loan, Travel Loan

etc.The growth rate of PBL’s consumer financing was 38% in 2017.

SME Lending: PBL provide Small and Medium Enterprise loan that will ultimately increase the

small entrepreneur in the Bangladesh. They focused customer needs for funding and that’s why

the bank provide working capital loans to suppliers or dealers of large corporations or clusters of

small exporters of non-traditional items. In the recent year they have a SME loan outstanding is

Tk.437 million and the growth rate of PBL’s SME Lending was 41% in the last year.

Corporate Credit: PBL’s strategy is to provide comprehensive service to the clients of this

segment who are large and medium size corporate customers with expertise in trade finance and

related services. Besides trade finance bank are providing working capital finance, project

finance and arranging syndication for our corporate clients. Syndication and structured Finance

Unit of the Bank strengthened its footstep in the consortium financial market and arranged a

number of syndication deals for its corporate clients

Credit Card:

In the year of 2005, Prime Bank Ltd has launched VISA. Before that PBL started its credit card

operation in 1999 by introducing Master Card. Now PBL has become the first local Bank of the

country to achieve principal membership of both the worldwide-accepted plastic money network

i.e. Master Card and VISA. PBL has redesigned the credit card facility by providing the incentive

of “Free Life Insurance Coverage” for their valued cardholders to mitigate the financial risk.

Foreign Exchange Business: Over the years, foreign trade operations of the bank played a

pivotal role in the overall business development of the bank. The bank has established

relationship with as many as 110 new foreign correspondents abroad thereby raising the total

number of correspondents to 350. The total import & export business handled by the bank during

the year 2013 was TK 52,639 million and Tk 41,801 million. The growth rate was 46%. The

bank has also entered into remittance arrangements with several banks and exchange houses and

expects to handle increased volume of remittance business over the near future.

Products of Prime bank Prime Bank Limited offers various kinds of deposit products and loan

schemes. The bank also has highly qualified professional staff members who have the capability

to manage and meet all the requirements of the bank. Every account is assigned to an account

manager who personally takes care of it and is available for discussion and inquiries, whether

one writes, telephones or calls.

Loan Schemes:

 General Loan Scheme

 Consumer Credit Scheme

 Lease Finance
 House Building Loan & Apartment Loan Scheme

 Advance against Shares

 Custodial Services for investors (both individual & institutional) investing in through Stock

exchange

 One stop services for payment of utility bills.

 Credit card

General banking activities of Prime Bank, Subid Bazar branch, Sylhet.

The Prime Bank LTD, Subid Bazar branch, Sylhet is comparatively a small branch and it consist

of some common department to execute General Banking activities. There are four general

banking departments. Gathering my experience and observation in those department, the banking

activities are listed and described below:

1. Account Opening

2. Remittance

3. Clearing
 4. Cash

1. Account Opening Section

1.1 Account Opening

To create funding for the Bank Account opening is the first step and it created a relationship

between bank and the customers, but through opening an account it abide the Banker and

customer into contractual relationship. The selection of customer for opening an account is very

important for a Bank. Prime Bank Ltd offers the following accounts:

 Savings Account

 Current Accounts

 Fixed Deposit Receipt (FDR)

 Short Term Deposit (STD)Accounts

 Term Deposit Accounts

PBL follows certain procedure for opening a general account, the steps are provided below -

Step1: Bank provides the account opening form to the prospective customer and takes necessary

information like: One copy National ID card for account holder and the nominee, 3 copy photos

of account holder and one copy photos for the nominee, one copy electricity bill Electricity bill.

Step 2: The officer takes necessary signature of the customer then officer fills up the form in

accordance to the information provided by NID card.

Step-3: The customer has to deposit minimum of 1000tk for saving account and 10000tk for

current account.

Step-4: The officer takes signature in the check requisition slip and send for issuing new check

book for the customer.

Step5: The authorized officer scrutinizes the application form and forwards it to the operational

manager for authorization.

Step6: If the operational manager authorizes the account opening form and provides instruction

to officer to open the account.

Step 9: The officer scan the account opening form and upload the information customer in their

server and provides new account number.

Step10: The account is opened and ready for transaction.

Different type of deposit account

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gs Bank Account

The saving account is developed for small income people who want to save their income.

Therefore there are some restriction set during withdrawal the money, the software will also

restrict if there are frequent transaction happening with the saving account. Therefore there are

some restrictions of withdrawal in both amount and frequency. In order to open saving the

account the prospective customer must deposit amount of 1000tk. The saving account can be

opened individually and a nominee can be provided, the account can also be opened jointly. The

saving account offers interest rate of 6%. There are some document required needed in order to

open a saving account, such as: a copy of NID card, Photos of applicant and Nominee, a copy

TIN, and a copy of electricity bill.

Current Deposit Account

For business customers Prime banks offer current deposit account, they have wide range of

customers for current deposit account such as Sole Proprietorship, Partnership Firms, Limited

Companies, Societies / Clubs / Associations / Local Bodies Banks. Current deposit account
facilitates a customer to deposit the money into the bank account without any restriction. There is

no limit for withdrawal of money from the account and can able to multiple transactions in a day.

Fixed Deposit Account

For middle class people Prime Bank Limited offers deposit of fixed amount of money from their

saving and after certain amount of time customer can get a good sum of money with the interest

and principle amount. DPS can be opened in the name of individual or jointly and can customer

can choose the plan according to the plan DPS plan offered by the prime bank. Customer can

also break the Fixed deposit account any time before or after the maturity of the plan.

Fixed deposit rates

Period Less than 1crore More than 1 crore
1 month 6% 7%
3 month 12% 12.5%
6 month 12% 12.5%
12 month 12% 12.5%

Double Benefit Deposit Scheme (DBDS)

PBL offers Double deposit benefit scheme for people who want to make huge money, the DBDS

plan is quite attractive. The benefits provided under this scheme shall become double after 7

years. The minimum amount of deposit under this scheme is at least 10000tk and the deposit tk

become double after 7years and the Seven Years effective interest rate is 10.42 This plan is

helpful for meeting specific need like marriage, education etc.. In case of premature encashment

interest will be paid on Saving A/C Rate. Loan may be granted up to maximum 80% of the

deposited amount but minimum principle amount must be BDT 20,000.00.Loan processing fee

be realized BDT 50.00 only and usual stamp costs also be realized.
My first account: PBL is one of those bank which provides banking for premature people like

students. The scheme help students and parents with a small amount of savings after a certain

period, it also aims to make the habit of savings from an early age into students. Student aged

between 11 and 17 years, can open an account with their guardian, So MFA is a joint account

between the student and the guardian. The guardian can operate their child’s account with their

signature until their child reaches adult age. Some features of My First account are given below:

 No transaction fees will be charged for MY first account.

 MICR checque book will be provided free.

 Free ATM card for students

 Free SMS banking

 In order to open My first account only 100tk is required.

 BDT 2000/- only can be withdrawal per month through Debit Card and Point of Sales

(POS). This limit may be increased up to BDT 5000/- on request of the Guardian

Remittance Section

Remittance is basically sending money from one place to another through telegraph. Prime banks

remittances are very easy and transaction cost is cheap. PBL facilitate its customers by means of

receiving money from one branch of the bank and making an easier arrangement for payment to

another branch within the country. There are three types of remittances offered by Prime Bank

are:

1) Pay Order

2) Demand Draft
3) Telegraphic Transfer

1) Pay Order

Payment order The payment order is a financial instrument issued by the bank on behalf of

customer stating an order to pay a specified amount to a specified person within the same city. So

it is a process of money transfer from payer to payee involving a certain clearing area through

banking channel. A customer can purchase different modes of payment Order such as

i) Pay order by cash and ii) pay order by check.

Pay order (Issue)

There are some procedure maintained in order to execute pay order issue. Firstly bank provided

the pay order application form to the prospective customer. Then customer filled up the form

and pays by cash or cheque. The officer who is in charge of clearing issues pay order by inputing

in the pay order block. This pay order block consist of three part, one part for bank and the other

two part for the customer.

Following procedure is maintained for the issuance of PO:

 Customer is supplied with PO form.

 After filling the form the customer pays the money in cash or by cheque.

 The concerned officer then issues PO on its specific block. This block has three parts, one

for bank and other two for the customer. A/C Payee crossing is sealed on all pay orders

issued by the bank.

 The officer then writes down the number of the PO block on the PO form.

 Two authorized officers sign the block.

 At the end customer is provided with the two parts of the block after signing on the back
of the banks part.

Pay Order (Payment)

As the PO issued by the bank is crossed one it is not paid over the counter. On the contrary the

amount is transferred to the payees‟ account. To transfer the amount the payee must duly stamp

the PO.

 Demand Draft

This is an order to pay money, drawn by one office of a bank upon another office of the same

bank for a sum of money in any place, which is outside of the clearing house area of issuing

branch. It is a negotiable instrument. It can be crossed or not. For payment of DD bank checks

the „Test Code‟ first mentioned on the draft. If test code agrees, then the bank makes payment.

The issuing bank sends an advice about the DD to the paying branch, for further confirmation.

Demand Draft is an instrument containing an order by the issuing branch upon another branch

known as drawee branch, to pay a certain sum of money to the payee or to his/her order on

demand.

Demand Draft Issue

 Customer is supplied width DD form.

 Customer fill up the form which includes the name of the drawer, name of the payee,

amount of money to be sent, exchange, name of the drawee branch, signature and address

of the drawer.

 The customer may pay in cash or by transferring the amount from his/her account (if

any).

 After the money is paid and the form is sealed and signed accordingly it is given to the
DD issuing desk.

 Upon receiving the form concerned officer issue a DD on a particular block.

 DD block has two parts, one for bank and another for customer.

 Bank‟s part contains issuing date, drawer‟s name, payee‟s name, sum of the money and

name of the drawee branch. Customer‟s part contains issuing date, name of the payee,

sum of the money and name of the drawee branch.

 After furnishing all the required information entry of the DD is given in the DD issue

register and at same time bank issue a DD confirmation slip addressing the drawee

branch. This confirmation slip is entered into the DD advice issue register and a number

is put on the confirmation slip from the same register. Later on the bank mails this slip to

the drawee branch.

At least two officer sign the DD block and the amount is sealed on the DD with a special red seal

to protect it from material alteration. The number of DD is put on the DD form. Next the

customer signs on the back of the DD and is supplied with his/her part of DD.

Demand Draft Payment

When a DD is brought for payment, the branch check out the following matters:

 Whether the DD is drawn on them

 Whether it is crossed or not

 Whether it is properly signed by authorized officers of the issuing branch

 The branch then checks out whether the confirmation slip has arrived or not

 If the confirmation has not arrived, the DD is given entry in the Ex-advice register.

Stop Payment of Demand Draft

The issuing can issue instructions to the drawee bank to stop the payment of the DD issued by
them only on written request of the drawer and should inform the drawee bank immediately.

Once the drawee branch made the payment, no action can be taken against it.

 Telegraphic Transfer (TT)

In case of TT the issuing branch sends a telegraphic message to another branch to pay a certain

some of money to a named payee account. Test code is furnished on the TT message for the

protection of it. Generally for such kind of transfer, payee should have account with the paying

bank; otherwise it is very difficult for the paying bank to recognize the exact payee.

At customer‟s request branch transfers fund to another branch through telex and it is known as

the TT, in short. TT facility is available only in that branch having telex facility. The procedure

of issuing and paying TT‟s are stated below:

TT (Issue)

 Customer fills up the TT form and pays the amount along with commission in cash or by

cheque.

 The respected officer issues a cost memo after receiving the TT form with payment seal,

then signs it and at last give it to the customer.

 Next a TT confirmation slip is issued and its entry is given in the TT issues register.

 A test number is also put on the face of the slip. Two authorized officer signs this slip.

 Telex operator then transfers the message to the drawee branch mentioning the amount,

name of the payee, and name of the issuing branch, date and test number.

 The confirmation slip is send by post.

The main function of clearing section is to operate with safety and security of financial
transaction of financial instrument like DD (Demand Draft), PO (Pay order), check etc. on behalf

of the customers through Bangladesh Bank Clearing House, Outside Bank Clearing (OBC), Inter

Branch Clearing (IBC.

Types of Clearing:

1) Outward Clearing

2) Inward Clearing.

 Outward Clearing

When the Branches of our Bank receive cheques from its customers drawn on the other Banks

within the local clearing zone for collection through Clearing House, it is Outward Clearing. The

procedures of Outward Clearing are followed:

 The instruments are received duly signed vouchers.

 The clearing stamps are affixed on the instrument and it is endorsed with the checking of

in charge.

 The particulars of the instruments and the vouchers are entered in the outward clearing

register.

 The instruments with schedules received from branches and sent to the clearing house to

deliver them to the respective bank.

 These sorts of things are submitted in the first houses or delivery house of Bangladesh

Bank.

 Inward Clearing

When the checks of its customer are received for collection from other banks, the following

should be checked very carefully;

 The check must be crossed.

 The check should not carry a date older then the receiving date for more than 6 months.

 The collecting bank must check whether endorsement is done properly or not.

 The amount both in words and figures in deposit slip should be same and also it should

be in conformity with the amount mentioned in words and figures in the checks.

Cash Section

Cash is the most liquid asset and it should be dealt very carefully. So this department is really

handed with intensive care. This department starts the day with cash in vault. All cash receipts

and payments are made through this department.

Cash section is a very sensitive organ of the branch and handle with extra care. I was not

authorized to deal in this section because of its sensitivity. But I was fortunate enough to know

the procedures of this section. Operation of this section begins at the start of the banking hour.

Cash officer beings his/her transaction with taking money from the vault, known as the opening

cash balance. Vault is kept in a much secured room. Keys to the room are kept under control of

cash officer and branch in charge. The amount of opening cash balance is entered into a register.

After whole day‟s transaction, the surplus money remains in the cash counter is put back in the

vault and known as the closing balance. Money is received and paid in this section.

Cash Receipt

When clients deposit cash in the bank, the bank officer on receipt of the cash and the pay in

slip/credit voucher shall:

 Check and count the received cash.

 Make sure that the amount in word and number in the deposit slip are same.

 Check the account title and the number.

 Both the deposit slip is in order.

 Depositor‟s signature is in the slip.

 Receive seal in the slip is a must.

 Write the domination of the currency at the back of the pay in slip or the credit voucher

and affix stamp in the slip/voucher.

 Enter particulars of in slip/credit voucher in the receiving cash officer book.

 At least, send the pay in slip/voucher to the deposit department or to the respective

department.

 Deposit slip must be signed by the respective officer.

 Carbon copy of the deposit slip must be handover to the client with proper seal and

signature.

Cash Payment

Cheques, demand drafts, pay orders, pay slips and debit cash vouchers etc. are received from

various departments for payment of cash to customers/payees. Prior payment of cash it is the

officer‟s duty to make sure that the cheque/or the instrument has been genuinely passed.

The following common precaution is thoroughly practiced before honoring a cheque:

 Check of it is an open or crossed check.

 The branch name in the cheque.

 The date in the cheque is very crucial. Cheques are normally valid six months and predated

cheques are asked to present after the date given.

 Tk in words and figure of the cheque is same.

 Balance in the account is available.

 The apparent tenor of the cheque. Whether any figure, date or anything has been altered

in the cheque presented. If any, then the respective officer must check whether the client
is making his signature for alteration or not.

 The specimen card signature and signature in the cheque should match.

 Signature of recipient is obtained on the reverse of cheque.

 In case, where a prior arrangement has been made with the bank, a client may overdraw

against a cheque.

Corporate culture and interaction with employee:

The work environment in prime bank is very friendly and charming. The AVP and head of the

branch is MD Hanif, he is very extrovert and supportive, we intern also can communicate

directly with the branch manager without any hesitation. At the start of the internship I always

communicate with my supervisors learns work details and that’s why I easily learnt new things

easily. Each of the employee are very much supportive and they are much lenient, During my

internship I made few mistake they take very easily and they corrected manyy mistakes and

report about our problems and can also ask for suggestion. The employee are provided tea/coffee

whenever they want and can boos themselves during excess work load, thats the reason

employee became such efficient. During lunch time we intern seat with the employees and talk

about their lives, can refresh our mind. The bank arranges a picnic once in a year. The bank

provide two paid leave in every month, beside emplyess are also allowed sick leave in case of

their mental and physical illness. Our branch consist of multiculture employee, like there are

employees from different ethnicity and religion. Being in a multiculturalcal work environment

emplyee are communicative and respectful towards each other. The language spoken in our

branch is bangla, and most of the employee conmunicate with each other in local sylethy

labnuage. Sometimes employee has to speak in english when there is foreign client.
My experience and learning:
Internship is a program through which a fresh graduate have an idea about corporate world. It’s a

good opportunity to learn new things about corporate culture. Under this internship program I

have learnt many new things but one of the most important things I taught is to be punctual and

obedience. Without punctual and obedience one cannot survive in the corporate world. Secondly

multi tasking is one of the qualities I attained from my internship. In my branch most of the time

I had excess work load and my superiors provide multiple task at a time. Initially I begin to

irritate but then I observed how officers tackle such pressure. Then I start prioritize my work

activities, important works I do at first and least important work are done at last. Then slowly I

learnt to multi task and now I can do things at time. I was introvert and being shy all the time but

during my internship working with so much people I overcome my shyness and built good

communication skills. Seeking help from superior helped me to learn many new things and if

you cannot ask, you wont able to learn new things. In corporate life work stress is very common

and to overcome work stress self motivation is important and you have to believe in yourself and

in this way I can able do difficult task easily. This internship program helped me to built my

confidence level and I believe we can maximize our learning when we can push yourself at

endpoint. During my internship I gathered two types of learning: Practical learning and personal

learning

Practical learning:

 Ms excel and MS word: These two software’s are used very frequently during my

internship and I gained expertise with these software. Excel software is used to

maintained customers information and it’s easy to find out particular customer by a

search option. Word software is used to provide specific report or provide certain

certificate to the customer.

