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I would also like to thank my teaching associate Ms. Haadia Qaiser. She updated me
with all the deadline and her reminder messages helped me remembering the deadlines.
Last but not least, I would thank all the Faysal bank officials from different branches of
Lahore and Karachi for giving me time in order to take interview. In addition I would like
to thank all customers of Faysal Bank.
Executive Summary
The bank I have choosen for my BBA final research report is Askari Bank Limited.The
problems faced by Askari Bank employess are highlighted in this project.now a days in
increased competition in the market the war is not to explore new employees but to
maintain the market share and taking away other’s market share
sample size is the limitation involved in this research .th bank has a has large number of
branches all over Pakistan. Sample size of 30 are taken which is very less for a bank
which has such a huge network
Literature review, interviews and questionnaires have filled out for a better
understanding of the problem faced by the employees and to get in depth knowledge
as well as insight of problems that are or were creating hindrances in integrating
systems. Moreover, different managerial, concerns are highlighted so that problems can
be identified.
CHAPTER 1: INTRODUCTION
The chapter consist the purpose of the research, research’s scope, research issue, and
research’s objectives, limitation of the research, research methodology and scheme of
the research.
Research Objectives:
There are the main objectives of this research study.
Problem Statement:
While doing the detailed analysis we also come across the major problem that BANK is
currently facing and also find the reasons that are causing the problem. So the problem
identified is that employees are not satisfied.
Hypothesis:
Employee dissatisfaction may be due to low pay scale, work overload due to fewer
employees and lack of recognition. Keeping in mind these reasons the following
hypothesis have been made for the study:
Hypothesis: 1
Null Hypothesis: Employee dissatisfaction is not due to low pay scale
Hypothesis: 2
Null Hypothesis: Employee dissatisfaction is not due to lack of recognition
Hypothesis: 3
Null Hypothesis: Employee dissatisfaction is not due to work overload
Research Methodology:
Step 1:
Interviews with the employees working in Askari Bank
Step 2:
Secondary data from the websites of Askari Bank
Step 3:
Formulation of questionnaires for Askari employees working there at different posts.
Step 4:
Sampling: Random sampling
Step 5:
SPSS has been used to check the validity of the hypothesis.
Analysis techniques:
Two techniques have been used for analysis:
Chi-square:
A chi-square test (also chi squared test or χ2 test) is any statistical hypothesis test in
which the sampling distribution of the test statistic is a chi-square distribution when
the null hypothesis is true, or any in which this is asymptotically true, meaning that the
sampling distribution (if the null hypothesis is true) can be made to approximate a chi-
square distribution as closely as desired by making the sample size large enough.
Source: http://www.easycalculation.com/statistics/chi-square.php
Research Plan:
Research plan articulated to achieve the objective of the study is as follows.
SWOT analysis of the organization was undertaken and then the competitors’
comparative analysis will be provided.
Major problem and weaknesses of the organization were identified and its causes
investigated.
The problem faced by the organization is that employees are not satisfied with their pay
scale, there are less facilities and too much work overload which causes lack of
motivation in employees of the organization.
Chi square test was applied to test the hypothesis and conclusion drawn according to
accept or reject criteria.
Company Profile
Askari Bank has since expanded into a network of 245 branches / sub-branches,
including 31 dedicated Islamic banking branches, and a Wholesale Bank Branch in the
Kingdom of Bahrain. A shared network of 5,319 online ATMs covering major cities of
Pakistan, internet banking (i-net) and call centers operating on 24/7 basis supports the
alternate delivery channels for customer service.
As at December 31, 2011 the Bank had equity of Rs. 17.8 billion and total assets of Rs.
343.8 billion, with 919,096 banking customers, serviced by 5,994 employees. Askari
Investment Management Limited and Askari Securities Limited are subsidiaries of Askari
Bank primarily engaged in managing mutual funds and share brokerage,
respectively. [1]
Askari bank enjoys the privilege of being one of the best banks of Pakistan. It has its
presence all across Pakistan. It’s backed by Army Welfare Trust which has many other
businesses under its name. Due to the backing of AWT, Askari banks enjoy strong
financial position in the banking sector.
VISION
"To be the bank of first choice in the region" [2]
MISSION
"To be the leading bank in Pakistan with an international presence, delivering quality
service through innovative technology and effective human resource management in a
modern and progressive organizational culture of meritocracy, maintaining high ethical
and professional standards, while providing enhanced value to all our stakeholders, and
contributing to society" [3]
CORE VALUES
Commitment
"Passionate about our customers’ success, delighting them with the quality of our
service"
Teamwork
Service
Fairness
"Exemplary compliance, governance and business ethics"
Integrity
"A distinctive investment, delivering outstanding performance, return and value" [4]
BRANCH BANKING
Through a branch network in major cities, towns and cantonments, made up of
conventional, corporate, consumer, Islamic, as well as agricultural banking service
branches, we aim to provide our customers with a wide array of offerings catering to all
their banking needs.
Mahana Bachat
Askari Mahana Bachat Account is a term deposit designed for individuals with a short to
medium term investment appetite. It offers customers the option of investing for one to
three years tenures and has been designed keeping in view savings needs of customers
who want profit on a monthly basis. With competitive rates of return paid monthly on
the 1st of every month and the option of getting a financing facility of up to 90 percent,
Askari Mahana Bachat Account caters to customers saving needs without blocking their
funds for a longer duration.
Paishgi Munafa
Askari Paishgi Munafa Account is a unique term deposit designed to meet the
immediate financial needs of individual investors / savers who want to invest their funds
for a medium term. The most significant feature of this product is that the customer
receives the entire profit upfront at the time of placing the deposit in a way that the
investors / savers can fulfill their financial needs of today without depleting their
savings.
Current Account
Current accounts cater to the variety of financial needs of our diverse customer base
with added benefits of free ATM card, cheque book, issue of demand drafts / payorders
and much more. These products include value plus current accounts, basic account with
no minimum balance requirement.
Savings Account
A range of savings accounts offered by the Bank to both individual and institutional
customers include Askari Special Deposit, Value Plus Savings besides normal saving
account based on profit and loss sharing basis. Askari savings deposits offer attractive
features and competitive returns and certain flexibility similar to current accounts.
Investment Certificates
Askari Bank’s Investment Certificates provide the added security, investment and
monthly return to the customers. These certificates are negotiable and can be
transferred to third parties. Investment Certificates are available for a three month
period and profit is payable on a monthly basis through preprinted tearoff coupons.
Bancassurance
The Bank offers innovative banking solutions with a touch of insurance in it by fusion of
banking, wealth management and insurance products. In partnership with Eastern
Federal Union (EFU) Life, the Bank is positioned to offer its customers with value added
life insurance and wealth management products tailored to suit their long term financial
requirements and protection plans through select branches. As an extended feature of
bancassurance, the Bank has also pioneered a co-branded credit card ‘Askari EFU Life
co-Brand Credit Card’. This feature offers benefits such as cash back facility, standing
charge option, reward points for each retail transaction conducted and much more.
Corporate Banking
Corporate Banking works on a long-term relationship based business model to provide
a single point within the Bank for meeting all business requirements of its corporate and
institutional customers, including public sector enterprises, with the primary objective of
enhancing customer service.
Dedicated relationship managers for each of our corporate client ensure customer
satisfaction, which remains top priority. Our relationship oriented outlook focuses upon
providing a complete array of tailored financing solutions, that are practical and cost
effective, some of which include:
• Term Loans
• Letters of Guarantee
• Letters of Credit
• Bill Discounting
• Export Financing
• Receivable Discounting
Investment Banking
Investment Banking focuses on origination and execution of a range of financial
advisory and capital raising services to corporate and institutional clients as well as
actively managing the Bank’s proprietary investments in the local equity and debt
markets. Investment Banking offers various and tailored financial solutions including
debt syndications, project finance and advisory services, debt placements through
capital markets as well as structured trade finance facilities.
Whether a company is seeking to access the local or cross border syndications and debt
capital markets, project financing needs, advisory services related to M&A or the local
equity capital markets for raising capital, Askari Bank’s CIBG is well positioned to provide
due assistance. We can create and tailor the right structured solutions for business
needs in order to enhance shareholders’ wealth and market competitiveness.
CONSUMER BANKING
Askari Bank’s consumer finance is focused on enhancing retail portfolio through new
and improved initiatives and products. Special attention is given to business
opportunities involving strategic alliances to earn sustainable returns, with greater
emphasis on secured form of consumer lending and an aim to increase product
offerings while improving and maintaining quality of asset portfolio.
Ask4Car
It is a product for vehicle financing for both new and used vehicles at affordable and
competitive mark-up, easy processing without any hidden costs.
Personal Finance
With unmatched financing features in terms of loan amount, payback period and most
affordable monthly installments, Askari Bank’s personal finance makes sure that the
customer gets the most out of his / her loan; the product tenure ranges from one to five
years and is designed primarily for salaried individuals.
Mortgage Finance
Whether our customer plan to construct a house, buy a constructed house, or renovate
his / her house, Askari mortgage finance enables him / her to pursue their goal without
any problems. Mortgage is a premium home financing product for customers belonging
to the upper, upper middle and middle income groups, residing in the urban areas of
Pakistan.
Agricultural Banking
Agricultural banking products and services are specifically designed for Pakistan’s crop
farming, other farming and rural business segment. Such products and services, some of
which are listed below, offer improved and efficient delivery and control mechanism for
meeting increased demand for credit by the farmers in easy, accessible and affordable
manner.
ISLAMIC BANKING
With the help of Shariah advisor and professional bankers, Askari Islamic banking
provides Riba free and Shariah Compliant solutions to various customer segments
through a modest branch network in major cities of Pakistan. It offers following main
products:
Home Musharkah
Askari Islamic Banking offers Shariah compliant home financing to purchase, construct,
improve and transfer of the property under the concept of Diminishing Musharakah.
This means being able to cope with other financial commitment, while still having
money left over for extras and unexpected expenses.
NETWORK
North Region
Central Region
South Region
Wholesale Bank
Branch
Islamabad
18
Lahore I
13
Karachi I
10
Bahrain
Rawalpindi I
17
Lahore II
13
Karachi II
12
Rawalpindi II
16
Sahiwal
Karachi III
11
Peshawar
12
Faisalabad
12
Karachi IV
12
Azad Kashmir
Gujranwala
11
Hyderabad
15
Corporate
Multan
12
Quetta
10
Islamic
Corporate
Corporate
Islamic
13
Islamic
10
81
82
81
The network of Askari bank is increasing day by day and it has its presence all over
Pakistan showing its commitment.
Board of DirectorsORGANOGRAM
Country Head International Banking
Global Treasurer
Company Secretary
Budget Committee
Executive Committee
Audit Committee
Committee
LITERATURE REVIEW
BANKING INDUSTRY:
Banks are required all over the globe for managing transactions and ensuring smooth
monetary flow in every country. They have always been used as facilitators in terms of
extending credit to promote business activity. Loans can either be extended to
individual consumers or corporates and the returns gained are then invested to make
and earn profits.
Unlike the early years, where majority of the assets were held by the nationalized banks,
currently approximately 80% banking assets are with the banks of the private sector.
Because of privatization, the negative environment of bureaucracy subsided and
professionalism began seeping into the system.11
The risk management practices of the commercial banks have also been improved. This
is ensured by increasing the minimum capital requirement for banks. Initially, MCR was
merely rupees 500 million and over a period of time has been increased to rupees 10
billion. This has been done through the profits earned by the banks which had become
inefficient in the period of nationalization.12
With the introduction of online reports issued by the Credit Information Bureau, the
loan giving policies have been improved and more stringent. Through these measures
and newly introduced policies, an efficient check can be maintained about the
consumers’ credit history. This ECIB report has also helped in the reduction of non-
performing loans and has helped in building the trust of individuals in the banking
sector and vice versa.13
Over the period of time, the improvement in banking technology has lead to the
facilitation of banking clients and thus brought in the concept of convenience, flexibility
and efficiency. The introduction of credit cards, debit cards, ATMs and RTGs ( Real Time
Gross Settlement Systems) the banking sector’s technological environment has been
completely revolutionized.14
Since, minimum capital requirements have been increased; there are nine banks which
are still facing problems for raising deposits to meet these requirements. Most of the
banks that are facing these problems are majorly banks that are small or medium sized.
This problem has surfaced as a problem of immediate concern because a huge part of
these deposits lie with banks that are large in size. The growth is shown prominently by
those five banks which are considered to be largest in the banking industry of Pakistan.
Apart from these banks, the only banks that show some growth are large foreign banks,
others are facing serious problems in raising deposits.15
Another issue of immediate concern for the banking industry is currently regarding the
economic and political environment which is posing serious threats to the society. A
number of foreign banks are leaving the country and wrapping up their operations in
Pakistan. Even though the overall profitability of the banking sector has been improved,
and these foreign banks are earning large profits too, however, these profits rae not
large enough for these banks to continue operating in Pakistan. Also because of the
global European crisis, foreign banks had to do a lot of restructuring in their
international operations, for their profits at home had to be reduced.
Board of Directors
Lt Gen. Javed Iqbal
Chairman
Mr. M. R. Mehkari
Audit Committee
Chairman
Company Secretary
Auditors
Chartered Accountants
Legal Advisors
Shariah Advisor
Rawalpindi-46000,
Pakistan.
E-mail: webmaster@askaribank.com.pk
Transfer Office
Karachi-75530
Entity Ratings
Long Term: AA
Website
www.askaribank.com.pk
Source: www.askaribank.com.pk
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