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INTERNSHIP
REPORTOn
Bank Alfalah Limited
PREFACE
Sana ullah
MB-04031 (2004-2006)
Internship Report
-1-
DEPARTMENT OF BUSINESS ADMINISTRATION
GUJRANWALA CAMPUS
Internship is the one of the crucial part of the MBA course and this provide the practice
knowledge of what students read about business in their books. Internship report is
prepared to full fledge analysis of an organization. As this is the only field experience
that students before entering practically into the market.
During our internship we had been rotated different departments as accounts, bills and
remittances, cash, credit, foreign exchange & internet banking etc. this movement and
working provide a completely knowledge of their working to us, they also explained each
and every concept to make us clear. This knowledge and practical experience was the
thing which help we have completed the internship report.
Executive Summary
Sana ullah
MB-04031 (2004-2006)
Internship Report
-2-
I have completed my 6 weeks internship at Alfalah Bank of Pakistan. I tried my best to
gain something practically from this opportunity. This report starts from the introduction
of
word ‘Banking’, and then History of Alfalah Bank of Pakistan. History of Alfalah Bank
shows that how it helps its Nation and Country in both war & peace.
Bank Mission statement & Vision shows its focus on overall performance of the bank and
quality of services and products.
After restructuring of the bank the objectives of the bank are changed. Now it has
objectives to overcome past mistakes, realize the real importance of customer so now it
has
main objective to achieve customization.
Bank also provides facility of L.C to support export and import in the region.
SWOT analysis of Alfalah Bank of Pakistan shows that it has small number of strengths
and lot of weaknesses. The bank should give attention to this drawback. But bank has lot
of
opportunities to improve its quality of services, and do efficient banking. Bank should
give
proper attention to overcome its threats.
Sana ullah
MB-04031 (2004-2006)
Internship Report
-3-
INTRODUCTION
INTRODUCTION
Following privatization, Bank Alfalah emerged as new identity of Habib Credit and
Exchange Bank with a revived purpose and commitment. Charged with the strength of
Abu Dhabi consortium and under the leadership of his Highness Sheikh Nahayan
Mubarak Al
- Nahayan, the bank has already made significant conditions in building and
strengthening
both corporate retail banking sector in Pakistan.
Designing the product portfolio of bank response to the customer’s preferences, the
product like Royal Profit, Royal Patriot and Royal Custodial are prime examples of
quality and innovation providing timely banking opportunities to customers of bank.
Assessment of the needs and wants of the customers is an on going process at Bank
Alfalah, which helps to continually develop new products and services. To continuously
offer courteous, professional and advanced banking solutions, the team of bank has
recently been rejuvenated by going though training programs with a focus on information
technology.
To make their banking solutions become accessible to more and more people, they have
embarked upon a rapid expansion program, aiming to provide a networking that makes
the services available to any of their customers in all the major urban centers of Pakistan -
with a view to go international in the future.
With their key indicators of progress already soaring to new heights, the bank is
committed to dedicate all its energies, resources and time to bring higher value and
satisfaction to their customers, employees and shareholders.
The graph of bank is going up and up every year. The ratio of profit is increasing at good
percentage. Thy bank is serving the people at high level of standard by going according
to the whishes of the customers.
Sana ullah
MB-04031 (2004-2006)
Internship Report
-4-
BANKING SECTOR
BANKING SECTOR
At the time of independence in 1947, there were 38 scheduled banks with 195 offices in
“Pakistan” but by December 31,1973, there were 14 scheduled Pakistani commercial
banks with 3,233 offices all over Pakistan & 74 offices in foreign countries.
Nationalization of Banks was not done 1st January 1974 under the Nationalization act
1974, due to certain objectives. But it had negative effects on efficiency of the of the
banking sector afterwards a privatization Commission was set up on January 22, 1991,
the commission transferred many banks to the private sector i.e., MCB & ABL. The
government approved & permitted the establishment of 10 new private banks in 1991;
hence many new private banks have incorporated, since then, BANK ALFALAH in one
of the namely established private scheduled banks in Pakistan.
Commercial banks operating in the country can be divided into four distinct categories,
private banks, foreign banks, privatized banks and nationalized commercial banks
(NCB’s). The number of private banks has remained almost constant ever since they
commenced operations in early nineties, with the exception of Indus Bank that is under
liquidation. However, ownership of a number of private banks has changed over the
years. Lately, with the take over of Prudential Bank and Platinum Bank by the new
sponsors their names were changed to Saudi Pak Commercial Bank and KASB Bank
respectively. Earlier, ownership of Union Bank and Schon Commercial Bank changed.
While the new sponsors of Union Bank preferred to continue with the same name, the
buyers of Schon Commercial Bank changed its name to PICIC Commercial Bank.
Union Bank acquired the operation of Emirates Bank International (EBI) in Pakistan. The
scheme of amalgamation was notified by the central bank on September 03, 2002 and
Union Bank settled the amalgamation price of US$ 37 million on September 09, 2002.
Union Bank had acquired Pakistan operations of Bank of America in year 2000 and
American Express credit card business in Pakistan in year 2001.
In the NCBs category two banks — Habib Bank and National Bank of Pakistan — have
been left after the privatization of United Bank. National Bank of Pakistan has been listed
at local stock exchanges and part of its shares were off loaded. The GoP is actively
pursuing the privatization of Habib Bank, through sale of its 26% shares along with
Sana ullah
MB-04031 (2004-2006)
Internship Report
-5-
transfer of management. The remaining shares of the GoP in Muslim Commercial Bank
and Bank Alfalah were also sold. The GoP sold majority shares of Allied Bank of
Pakistan in early nineties but has not been able to off load its remaining shares in the
bank.
United Bank's privatization demands specific mention for two reasons:
1)
It was the largest transaction, and
2)
A large part of sale proceeds was received in foreign exchange.
The consortium comprising of Abu Dhabi Group and Bestway Group has acquired 51%
shares of the bank along with management control. Since October 2002 the bank has
been working under the new sponsors.
Meezan Bank was created as a result of merger of Al-Meezan Investment Bank and
Societe Generale. The first ever license to operate as a Scheduled Islamic Commercial
Bank was granted to Meezan Bank on January 31, 2002. Pakistan operations of Societe
Generale were amalgamated into Meezan Bank on May 01, 2002. At the end of year
2002 it had six branches, three in Karachi and one each in Islamabad, Lahore and
Faisalabad.
The number of foreign banks operating in Pakistan has been declining constantly since
the GoP decided to freeze foreign currency accounts in May 1998. The total number of
foreign banks in the country has reduced to half since the freezing of foreign currency
accounts. The positive point is that most of the foreign banks were able to sell their
Pakistan operations at attractive prices. Operations of ANZ Grindlays Bank have been
fully amalgamated into Standard Chartered Bank as a result of global merger.
KEY PLAYERS
ASKARI COMMERCIAL BANK has posted Rs 687 million profit after tax for the year
2002 as compared to a profit of Rs 551 million for the previous year. The Board of
Directors also announced 20% dividend and issue of 5% Bonus Shares subject to the
approval of issue of Bonus Shares by the SECP. The bank had distributed 20% dividend
among its shareholders for the year 2002 and also issued 5% Bonus Shares. The Bank
transferred Rs 137 million to statutory reserve and Rs 284 million to revenue reserve.
EPS improved from Rs 5.06 for the year 2001 to Rs 6.32 for the year 2002.
Sana ullah
MB-04031 (2004-2006)
Internship Report
-6-
BANK AL HABIB has posted Rs 290 million profit after tax for the year 2002 as
compared to a profit of Rs 246 million for the previous year but bid not announce any
dividend. The Board of Directors has approved issue of 20% Bonus Shares. The bank had
paid 5% dividend and also issued Bonus Shares at the end of year 2001. Though there
was increase in total income, total expenditure also went up. Total income grew from Rs
1,090 million to Rs 1,383 million. Non-mark-up/interest expenses went up from Rs 539
million to Rs 763 million. EPS improved from Rs 2.84 for the year 2001 to Rs 3.35 for
the year 2002.
BANK OF PUNJAB has posted Rs 284 million profit after tax for the year 2002 as
compared to a profit of Rs 236 million for the previous year. The Board of Directors
approved distribution of 17.5% dividend among the shareholders for the year 2002. The
bank had distributed 15% dividend to its shareholders for the year 2001 and also issued
Bonus Shares amounting to over Rs 24 million last year. The Bank transferred Rs 56.8
million to statutory reserve and Rs 50 million to general reserve. EPS improved from Rs
2.35 for the previous year to Rs 2.83 for the year 2002.
BOLAN BANK has posted Rs 3.7 million profit after tax for the year 2002 as compared
to
a profit of Rs 8.7 million for the previous year. EPS declined from Rs 0.17 for the year
2001 to Rs 0.07 for the year 2002. It is worth noting that profit before tax improved from
Rs 10 million for year 2001 to Rs 24.7 for the year 2002. However, due to higher
appropriation for tax for the year 2002, profit after tax declined substantially. Tax
appropriation went up from Rs 1.3 million to slightly more than Rs 21 million.
FAYSAL BANK has posted Rs 656 million profit after tax for the year 2002 as
compared
to a profit of Rs 410 million for the previous year and also announced 17.5% dividend. It
had distributed 10% dividend to its shareholders for the year 2001. The improvement in
profit was driven by higher income, going up from Rs 1,489 million to Rs 1,877 million.
There was decrease in fee-based income but increase in dividend income. Fee,
commission and brokerage income went down from Rs 242 million to Rs 205 million.
Dividend income grew from Rs 208 million to Rs 391 million. However, there was
increase in non-mark up expenses, going up from Rs 534 million to Rs 622 million,
mainly due to rise in administrative expenses. EPS improved from Rs 1.55 for the year
2001 to Rs 2.48 for the year 2002.
Sana ullah
MB-04031 (2004-2006)
Internship Report
-7-

Bank Alfalah Internship Report


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