INTERNSHIP REPORT ON SONERI BANK LTD

University Of Central Punjab

Lahore
Internship report At

Submitted By: MOHAMMAD ISHFAQ L3F09MCOM5517 M.COM (C)

INTERNSHIP REPORT ON SONERI BANK LTD

Table of contents
1. Acknowledgement --------------------------------------------------------------------------03 2. Executive Summary --------------------------------------------------------------------------04 3. Job description 4. Introduction --------------------------------------------------------------------------05 --------------------------------------------------------------------------5-8

5. Organizations Profile --------------------------------------------------------------------------8-9 6. Aims & objectives in this organization-------------------------------------------------------10 7. Gathering & Recording information---------------------------------------------------------11-29 8. Analysis -----------------------------------------------------------------------------------------30-32 9. Discussion-------------------------------------------------------------------------------- ----32-32 10. Limitations-------------------------------------------------------------------------------------32-33 11. References-------------------------------------------------------------------------------------33-33

INTERNSHIP REPORT ON SONERI BANK LTD

ACKNOWLEDGEMETN

In the preparation of this internship report, I acknowledge the encouragement and assistance given by a number of people from Soneri Bank Ltd. I am grateful to Ali Fraz, Operation Manager, Aitshan Sb, officer in clearing department, Miss Rabia, officer in account opening department. I would like to express my gratitude to my supervisor Ali Fraz, for sharing his ideas and interests with me about my study. His contribution boosted my confidence and helped me finish my study on time. Lastly, I want to show my gratefulness to all the respondents who spared their precious time in answering my questionnaires.

INTERNSHIP REPORT ON SONERI BANK LTD

EXECUTIVE SUMMARY
To interrupt my skills and educational knowledge of Banking and Finance I done my

internship in Soneri Bank Ltd Wahdat Road Branch Lahore, and to know how I will work in financial institutions and among various types of people have different attitude. The objective of this Internship was to explore the issues relating to Banking and Finance and to find out problems regarding the theoretical concepts with practical experience working in an organization during the internship and study the system of Soneri Bank Ltd. There are many possible improvements, which we can make positive changes in the system. There is shortage of employees in the organization. With development of online banking system the load of work can be decreased. Some members in the staffs do not know about computer. I observe to work in this branch only thousand accounts are operating in this branch. Some time staff members are sitting ideal. To update the skill and knowledge I suggested developing human resource training program and refreshers courses.

INTERNSHIP REPORT ON SONERI BANK LTD

Job Description:
I worked in Soneri Bank Ltd as an internee. The bank operation Manager told me about the rules and regulations and brief history of the bank. Later on he told me the basics of some operation of the department of the bank. I worked in the entire department during the internship. But the most interesting department is clearing department. I observed to working in the bank the banking job is very technical.

Introduction of Soneri Bank Ltd

History:-

Soneri Bank Limited was formally incorporated on September 28, 1991. The first Branch commenced operations in Lahore on April 16, 1992, followed by the launch of Karachi's first Branch on May 09, 1992. The bank currently operates 191 branches, spread all over Pakistan including the Northern Areas of the country. The banks expansion policy is based on the principle of maintaining a balance between the urban and rural areas. We take great pride in offering services even in the remote areas of Pakistan. Our fully air-conditioned and computerized branches provide a pleasant, convenient and hassle free banking experience every time. The essence of our business philosophy is to cater to the banking requirements of small & medium sized entrepreneurs, effectively providing them qualitative & competitive services with emphasis on encouraging exports. Nearly forty percent of our credit portfolio is related to export financing and credit decisions are taken within 48 hours.

INTERNSHIP REPORT ON SONERI BANK LTD

We have more Time for YOU! Vision: To provide visionary services and dynamic banking solutions to cater the needs of all our stakeholders. Mission: To develop Soneri Bank into an aggressive and dynamic institution having the capabilities to provide personalized services to customers with cutting edge technology and a wide range of products, and during the process to ensure maximum return on asset with ultimate goal of servicing the economy and society. MIDDLE AND LOWER MANAGEMET
Driector

Auditor

Secretary

SEVP

EVP

VP

AVP

Grade 1

Grade 2

Grade 3

INTERNSHIP REPORT ON SONERI BANK LTD

TOP LEVEL MANAGEMENT:

Mr.Alauddian (chairman)

Mr. Abdual Hayee (Driector)

Mr.Safar Ali K Lakhani (CEO)

Mr. S. Ali Zafar (Driector)

Mr.Nooruddin Feerasta (Director Mr. Imam Elahi (Driector)

INTERNSHIP REPORT ON SONERI BANK LTD

Product and Services of the Soneri Bank Ltd: Saving Account (i) (ii) PLS saving Soneri Saving

Current Account Basics Bank Account Ikhtari Current Account Locker Consumer Finance Electronic Banking

Soneri Bank Ltd Profile

COMPANY INFORMATION

Full name Soneri Bank Limited (Soneri Bank Limited)

Status: Listed Legal Form: Public Limited Company Operational Status: Operational Financial Auditors: KPMG (2011) Incorporation Date: September 1, 1991 Tel: (+92) 21) 32436990 - 94

Headquarters Adamjee Insurance Building I.I Chandigarh Road Karachi ; Karachi

INTERNSHIP REPORT ON SONERI BANK LTD

Company description: Soneri Bank Limited was formally incorporated on September 28, 1991. The first Branch commenced operations in Lahore on April 16, 1992, followed by the launch of Karachi's first Branch on May 09, 1992. The bank currently operates 184 branches, spread all over Pakistan including the Northern Areas of the country. The banks expansion policy is based on the principle of maintaining a balance between the urban and rural areas.

KEY EXECUTIVES Mr.Alliuadian Mr. Safarali K. Lakhani Mr. Abdul Hayee Mr. Inam Elahi Mr. Manzoor Ahmed

Chairman CEO Member of Board of Directors Member of Board of Directors Member of Board of Directors

Soneri Bank Ltd Wahdat Road Branch Members:

Mr. Nadeem Sb Mr. Ali Fraz Sb Mr. Aitsham Sb Miss. Rabia Bank Manager Operation Manager Clearing Department Account Opening department

Soneri Bank Ltd Wahdat Road Branch advances, deposits and accounts:
Advances Deposits Accounts 250 Millions 300 Millions 900 accounts operates

INTERNSHIP REPORT ON SONERI BANK LTD

Aims and objectives of Soneri Bank Ltd:

Increase the accounts Increase the deposits Customer satisfaction Attract more CD account Efficiency use of stationary Increase in Remittances Minimization of cost Borrowing Lending Provide the credit facilities to the customer Provide the car financing facilities Provide the house financing facilities Provide the person financing facilities Provide the running financing facilities Provide the demand financing facilities Provide the cash financing facilities

Soneri Bank Ltd promotes all these to increase the profit. I work Soneri Bank Ltd Wahdat road branch. In this branch on all these arise are working.

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INTERNSHIP REPORT ON SONERI BANK LTD

Gathering Information regarding to Soneri Bank Ltd

Department I served: During my internship in SBL I got a chance to work in these departments. Account opening Remittance Clearing

Account opening: Detail of Account Opening form: Type of account Currency Nature of account Zakat Deduction NTN Assigning authority Alternative correspondence address Applicant personal information Terms and conditions Additional documents required for opening account If Partnership account opened then these additional documents are required: Attested copies of CNIC of all parties Attested copies of partnership dead dully signed by all partners Authority letter in favour of person authorized to operate on the account of the firm

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INTERNSHIP REPORT ON SONERI BANK LTD

If Joint Stock Company account opened then these additional documents are required: Resolution of BOD to opening the account , authorized to operate the company account MOA and AOA Certificate of Incorporation Certificate of Commencement of Business Attested photocopies of CNIC all the directors List of Driector of form 29 issued by the registrar Joint stock company If Clubs, associations, and Societies account opened then these documents are required: Certificated copies of: (i) (ii) Certificate of registration By Laws, rules and regulations

Resolution of governing body Current Account: Current is a non profit account, flexible account with a great convenience for individuals (in single or joint names), minors (to be operated by the guardian), charitable institutions, autonomous corporations, limited companies, firms, associations, educational institutions, etc. Current account may be opened with any amount; however accounts with average monthly balance below Rs.10, 000- on any day shall be subject to Service Charges as per our Schedule of Charges in force Current Account entitles account holder to avail amazing facilities such as:

Chequing Account facility with no limit on a number of transactions Free Cash Deposit and Withdrawal facilities through your bank branch Free Clearing facility to deposit cheques of other banks within the city

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INTERNSHIP REPORT ON SONERI BANK LTD

Online Funds Transfer through Cheques to any account across Pakistan through your bank branch

Online Cash Deposit, Withdrawal and Funds Transfer through cheques from any of our branch across Pakistan

Remittance facilities such as Payment Orders, Demand Draft, Telegraphic Transfers Rupee Travelers Cheque through your bank branch Import, Export and other business transactions Standing Orders facilities Safe Deposit Locker at designated branches Statement of Account on six monthly basis Usage of Electronic Banking through: o ATMs across Pakistan owned by Soneri Bank and other banks o Shopping/purchasing/payments through outlets displaying ORIX sign o Free Online Cash Withdrawal facility upto Rs. 300,000/- from designated branches without Cheque Book o Free 24-hours Telephone Banking and Call Centre facility o Free 24/7 Online Funds Transfer to any customer of Soneri Bank through ATMs owned by Soneri Bank o 24/7 Online Inter Bank Funds Transfer through ATMs owned by Soneri Bank to any account of increasing list of enabled 1 LINK member banks o Utility Bill Payments through ATM, Internet Banking and Call Centre o Free 24/7 Internet Banking

All purchases and cash withdrawals made with the Soneri Banking Cards is deducted directly from your bank account Free Cash Withdrawal on ATMs owned by Soneri Bank Facility of Running Finance can be requested for specific purpose against collaterals and nominal markup rates being charged on quarterly basis Govt. Withholding Tax apply on all cash withdrawals

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INTERNSHIP REPORT ON SONERI BANK LTD

All purchases and cash withdrawals made with the Soneri Visa Debit Cards is deducted directly from your bank account

Basics Banking Account: oneri Bank Limited introduces Basic Banking Account Scheme with effect from July 01, 2006. Salient feature of the Scheme are:

Basic Banking Accounts may be opened in the Pak Rupees by individuals including minors under guardianship.

The accounts may be opened by initial deposit of any amount. No minimum balance requirement is applicable. Basic Banking Account is non-profit bearing account. 4 withdrawals from a Basic Banking Account through cheques in one calander month are free of service charges. Additional withdrawals through cheques in a calander of month shall be subject to service charge @ Rs. 25/- per additional cheque.

Soneri Banking Cards for the use of Bank's Electronic Banking Service are issued without charges for one time issuance of the cards.

unrestricted number of withdrawals from the account through ATMs are permissible subject to applicable per day withdrawal limit for amounts in force.

Cash withdrawals from Soneri Bank's ATMs are free of Service Charge. Use of another bank's ATMs shall be subject to Service Charges applicable.

Basic Banking Account holders may also use Soneri Bank's other Electronic Banking Services subject to completion of applicable formalities which shall be subject to applicable Service Charges.

Account have -NIL- balances for six consecutive months shall be closed without prior intimation.

Statement of Accounts are provided once a calander year at the year end.

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INTERNSHIP REPORT ON SONERI BANK LTD

Individuals who already maintain PLS Saving Accounts/ Current Accounts with Soneri Bank's branches may convert their accounts into Basic Banking Account. Please contact any Soneri Bank branch for further details.

Govt. Withholding Tax apply on all cash withdrawals

IKHTIAR ACCOUNT: khtiar current is a non profit account, flexible account with a great convenience and Multiple FREE Services for individuals (in single or joint names), minors (to be operated by the guardian), charitable institutions, autonomous corporations, limited companies, firms, associations, educational institutions, etc. Ikhtiar current account may be opened with minimum amount of Rs. 50,000/-. To avail free facilities maintenance of balance on or above Rs. 50,000/- is mandatory. Facilities Ikhtiar Account:

Chequing Account facility with no limit on a number of transactions Free Cash Deposit and Withdrawal facilities through any bank branch Free Clearing facility to deposit cheques of other banks within the city Free issuance of Pay orders Online Funds Transfer through Cheques to any account across Pakistan through your bank branch

Online Cash Deposit, Withdrawal and Funds Transfer through cheques from any of our branch across Pakistan

Remittance facilities such as Payment Orders, Demand Draft, Telegraphic Transfers Rupee Travelers Cheque through your bank branch Import, Export and other business transactions Standing Orders facilities Safe Deposit Locker at designated branches Statement of Account on six monthly basis

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INTERNSHIP REPORT ON SONERI BANK LTD

Usage of Electronic Banking through: o ATMs across Pakistan owned by Soneri Bank and other local banks o ATMs internationally displaying VISA or plus logo o Shopping/purchasing/payments through outlets displaying VISA sign o Free Online Cash Withdrawal facility upto Rs. 300,000/- from designated branches without Cheque Book o Free 24-hours Telephone Banking and Call Centre facility o Free 24/7 Online Funds Transfer to any customer of Soneri Bank through ATMs owned by Soneri Bank or through SoneriDirect (internet Banking) o 24/7 Online Inter Bank Funds Transfer through ATMs owned by Soneri Bank or through SoneriDirect (internet Banking) to any account of participating 1 LINK member banks o Free Payments of Utility Bills through ATMs owned by Soneri Bank or through SoneriDirect (internet Banking) o Free 24/7 Internet Banking

No one-time and annual fee on VISA Classic Debit Card All purchases and cash withdrawals made with the VISA Classic Debit is deducted directly from your bank account Free Cash Withdrawal on ATMs owned by Soneri Bank Free SMS Alerts on cash deposits, withdrawals, funds transfers, inward cheque clearing returns and Purchase transactions etc. Facility of Running Finance can be requested for specific purpose against collaterals and nominal markup rates being charged on quarterly basis Govt. Withholding Tax applies on certain transactions

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INTERNSHIP REPORT ON SONERI BANK LTD

Saving Account:
(i) (ii) (iii) PLS A/C Soneri Saving Account Sahara Account

1. Profit and Loss Saving Account: LS Savings Bank Account is a simple, straight forward Savings Bank Account with a great convenience for individuals (in single or joint names) minors (to be operated by the guardian) charitable institutions, provident fund and other funds of benevolent nature local bodies, autonomous corporations, limited companies, firms associations, educational institutions, etc.

The account may be opened with any amount; however accounts with average monthly balance below Rs.5000- on any day shall be subject to Service Charges as per our Schedule of Charges in force

The PLS Savings Account entitle Account Holder to avail amazing facilities such as:

Chequing Account facility with no limit on a number of transactions Free Cash Deposit and Withdrawal facilities through your bank branch Free Clearing facility to deposit cheques of other banks within the city Online Funds Transfer through Cheques to any account across Pakistan through your bank branch

Online Cash Deposit, Withdrawal and Funds Transfer through cheques from any of our branch across Pakistan

Remittance facilities such as Payment Orders, Demand Draft, Telegraphic Transfers and Free Rupee Travelers Cheque through your bank branch

Standing Orders facilities Safe Deposit Locker at designated branches Statement of Account on six monthly basis

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INTERNSHIP REPORT ON SONERI BANK LTD

Usage of Electronic Banking through:

o o o

ATMs across Pakistan owned by Soneri Bank and other banks Shopping/purchasing/payments through outlets displaying ORIX sign Free Online Cash Withdrawal facility upto Rs. 300,000/- from designated branches without Cheque Book

o o

Free 24-hours Telephone Banking and Call Centre facility Free 24/7 Online Funds Transfer to any customer of Soneri Bank through ATMs owned by Soneri Bank

24/7 Online Inter Bank Funds Transfer through ATMs owned by Soneri Bank to any account of increasing list of enabled 1 LINK member banks

o o

Utility Bill Payments through ATM, Internet Banking and Call Centre Free 24/7 Internet Banking

All purchases and cash withdrawals made with the Soneri Banking Cards is deducted directly from your bank account

Free Cash Withdrawal on ATMs owned by Soneri Bank Govt. Withholding Tax apply on all cash withdrawals and profit credited into account Zakat is deductable from Account however Zakat exemption forms are accepted

PROFIT/LOSS:

No minimum balance is required to qualify for profit Provisional rates are announced on a six monthly basis however profit/loss earned/incurred on PLS Savings Bank Accounts are determined by the Bank at its sole discretion on the basis of its net working result at the end of each half-year/ year

Calculation of products on PLS Saving Bank Accounts is computed for each calendar month on the lowest credit balance in an account

Profit/loss earned/incurred on PLS Savings Bank Accounts are credited/debited on a six monthly basis within a reasonable time from the date of the close of half-yearly/ yearly books of accounts of the Bank

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INTERNSHIP REPORT ON SONERI BANK LTD

Soneri Saving Account: Soneri Savings Account is a flexible and fast growing cumulative profit account with a great convenience for individuals (in single or joint names), minors (to be operated by the guardian), charitable institutions, provident fund and other funds of benevolent nature local bodies, autonomous corporations, limited companies, firms associations, educational institutions etc. The rate of Profit in this savings scheme increases as your balance increases without demanding and negotiating with us. The account may be opened with any amount.

Soneri Savings Bank Account entitles Account Holder to avail amazing facilities such as:

Chequing Account facility with no limit on a number of transactions Free Cash Deposit and Withdrawal facilities through your bank branch Free Clearing facility to deposit cheques of other banks within the city Online Funds Transfer through Cheques to any account across Pakistan through your bank branch

Online Cash Deposit, Withdrawal and Funds Transfer through cheques from any of our branch across Pakistan

Remittance facilities such as Payment Orders, Demand Draft, Telegraphic Transfers and Free Rupee Travelers Cheque through your bank branch

Standing Orders facilities Safe Deposit Locker at designated branches Statement of Account on six monthly basis Usage of Electronic Banking through o ATMs across Pakistan owned by Soneri Bank and other banks o Shopping/purchasing/payments through outlets displaying ORIX sign o Free Online Cash Withdrawal facility upto Rs. 300,000/- from designated branches without Cheque Book o Free 24-hours Telephone Banking and Call Centre facility

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INTERNSHIP REPORT ON SONERI BANK LTD

o Free 24/7 Online Funds Transfer to any customer of Soneri Bank through ATMs owned by Soneri Bank o 24/7 Online Inter Bank Funds Transfer through ATMs owned by Soneri Bank to any account of increasing list of enabled 1 LINK member banks o Utility Bill Payments through ATM, Internet Banking and Call Centre o Free 24/7 Internet Banking All purchases and cash withdrawals made with the Soneri Visa Debit Cards is deducted directly from your bank account Free Cash Withdrawal on ATMs owned by Soneri Bank Govt. Withholding Tax apply on all cash withdrawals and profit credited into account Zakat is deductable from Account however Zakat exemption forms are accepted

alance Upto Rs. 100,000 Over Rs. 100,000 but upto Rs.1.0 Million Over Rs. 1.0 Million but upto Rs. 5.0 Million Over Rs. 5.0 Million but upto Rs. 10.0 Million Over Rs. 10.0 Million

Rate of Return p.a 5.00 % 7.00 % 8.00 % 9.00 %

10%

Sahara Account: 60 year old people are opened this account Unlimited transactions Free Soneri debit card 10.25% profit on minimum balance Two online banking transactions are free.

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INTERNSHIP REPORT ON SONERI BANK LTD

HOW MANY DEPARTMENTS ARE WORKING IN THIS BRANCH

Six departments are working in this branch. Departments names are given in below: Account opening department Clearing department C/D department Cash Account Bills department Dispatch department

WHICH DOCUMENT ARE REQUIRED TO OPEN THE ACCOUNT

Receive the photo copy of CNIC of the customer and get it verified through NADRA. World check Student card/ business card/ etc KYC

What is KYC? The words Know Your Customer in the financial sense describe the process by which a bank or financial institution checks the identity, background and other aspects of the source of wealth of potential and existing customers. Also known as KYC, legislation and regulation require firms to obtain evidence of identity of a customer at take-on and to keep a record of that evidence for as long as there is a relationship with a customer. KYC include that type of information:-

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INTERNSHIP REPORT ON SONERI BANK LTD

Name Father name Date of birth Nationality Status Proof of identity Address Contact detail Gross annual income Occupation detail Politically exposed person

Remittance:
Banks also carry out, on behalf of their customers the act of transfer of money - both domestic and foreign. - From one place to another. This activity is known as "remittance business. Banks issue Demand Drafts, Banker's Cheques, and Money Orders etc. for transferring the money. This departments deals with the following types of working. Payorder Demand draft Online Transfer ATM Debit Cards Credit Cards

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INTERNSHIP REPORT ON SONERI BANK LTD

Inward clearing: Inward clearing means the cheques received by the bank from other banks. Inward is our account payable. When we received the cheques inward clearing we check the following documents: Date check Sign check Stamp check Stamp banker discharge Cutting and overwriting Post dated Stall check If cutting then check the customer signed or not If payee is person or individual then the written in discharge stamp (account payee creditor). If payee is a bank then the written in discharge stamp is (receive payment). If cheque receive form the SBP then the written in discharge stamp (disbursement guaranteed). NIFT (national institution facilitation technologies) is an org which provide the services to collect the cheque from the banks related to inward or outward clearing. If intercity cheque received then intercity stamp checked. If cheque receives the company then checks the company stamp. Outward clearing: When a particular branch receives instruments drawn on the other bank within the clearing zone and sends those instruments for collection through the clearing arrangement is considered as Outward Clearing for that particular branch. This branch is known as collecting branch. Following documents are checked:-

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INTERNSHIP REPORT ON SONERI BANK LTD

Date check Sign check Stamp check Stamp banker discharge Cutting and overwriting Post dated Stall check If cutting then check the customer signed or not Pay order: This instrument is used for conformed payment. Pay order is used for within city payment. Pay order is also known as a banker cheque. This instrument is issued by the bank after receiving the funds from customer. Pay order is payable local only. You cannot issue the pay order to a customer who is outside of your city. The main feature of the pay order is assured payment. There is no risk returning cheque due to insufficient of fund, technical error. It is use to avoid the risk of cash handling. Making a Pay Order: When a person requires a Pay Order he is asked to complete the prescribed application form in which the amount of pay order is to be stated. Certain amount of commission and advance tax is charged on issuance of pay order. After having the total amount deposit in the bank (in cash or through Cheque, in case of account holder) pay order is issued in the favor of the payee. Likes cheques, when pay orders is issued by Soneri Bank Ltd, are presented in another bank to get them deposited in payee accounts, they comprise the outward clearing for those banks and inward clearing Soneri Bank Ltd.

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INTERNSHIP REPORT ON SONERI BANK LTD

Demand Draft: Bank draft and demand draft is the same thing. Demand draft is used for conformed payment. Demand draft is not used within city payment. It is used for outside the city payment. Demand draft is a written order directing the payment to be made to a third party outside your city. The main difference between the demand draft and the pay order is that pay order is used within the city payment and demand draft is used outside the city payment. Online Transfer: One branch may send cash to another branch straightforwardly, with of course the permission of the Head office. The usual process in such a cash is that the head office in its books should debited the receiving branch and credit the sending branch. ATM: SONERI VISA Debit Card brings to you the ultimate facility of spending and making payments. You are privileged to avail the unmatched opportunities and benefits of the VISA CLASSIC Card and VISAGOLD Card. With the Buy Now Pay Now facility, you pay directly from your bank account. Use your SONERI VISA Debit Card wherever you are and whenever you want.

Safer than Carrying Cash Pay dining, shopping, traveling, hotel and other bills at over 24 million outlets displaying VISA sign locally and internationally Worldwide cash withdrawal facility at over 1 million ATMs displaying the sign Ease of Cash withdrawal on 1 LINK and ATM networks across Pakistan Credit facility available for GOLD Card Holders Accessibility of multiple accounts from a single card

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INTERNSHIP REPORT ON SONERI BANK LTD

Makes money management easier 24/7 Automated Telephone Banking 24/7 Call Centre facility Cheque-free banking Funds Transfer facility between participating 1LINK member banks Attractive rewards on spending

STUDY

THE

CREDIT

ADVANCE

PROCEDURE

FROM

APPLICATION TO DISBURSMETN
Two type of finance are given by the Soneri Bank Ltd Wahdat Road Branch Lahore. 1. Business finance 2. Consumer finance

Business finance: Running finance Demand finance Cash finance

Consumer finance: Car finance House finance Person finance

Business finance:Soneri Bank Ltd provide business finance 6moth Kibor + 4 rate

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INTERNSHIP REPORT ON SONERI BANK LTD

Running finance: Running finance is give to meet the working capital needs. Running finance is given against collateral or fixed amount any other bank. documents are needed for running finance. Statement of account Financial document MOA, AOA Security document Limit application form Balance sheet BOF (borrower basic fact sheet) Demand finance:Demand fianc is given for the extension of business premises. Cash Finance:Cash finance is given against the pledge of security. For example sugar, rice. Following

Consumer finance:Following type of documents is required for all type of consumer finance: Prof of income Telephonic and physically verification form Undertaking Utilization of loan Account statement

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INTERNSHIP REPORT ON SONERI BANK LTD

Car finance:
Purpose of Finance Purchase of brand new:

Un-registered cars for private use. Un-registered light commercial vehicles for private use.

Eligible Borrowers* Salaried Persons Self Employed Professionals Business Persons

Financing Amount For Cars upto 2000 CC: For Cars exceeding 2000 CC: Rs. 1.0 Million Rs. 2.0 Million

Down Payment On finance upto Rs. 1.0 M: On finance over Rs. 1.0 M: Minimum 15% of the vehicle price. Minimum 20% of the vehicle price.

Tenure Maximum repayment period is 5 years

Mark-up Rate ** 1 year KIBOR + 4% p.a., to be revised on each anniversary of finance. Processing Fee

Rs. 3000/- per approved application. Service Length

Minimum 2 years of confirmed service with present employer in case of Salaried Person. Age At the time of Application for finance applicants age must not be more than;

55 years in case of Salaried Persons

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INTERNSHIP REPORT ON SONERI BANK LTD

60 years in case of Self Employed / Business Persons

Debt Burden

Monthly repayment installments not to exceed 40% of the net take home salary or 40% of declared monthly income (taking into account other financing facilities availed from other Banks/DFIs). Pre-Payment Penalty

2% pre-payment penalty on outstanding principal amount of finance being pre-paid. Late Payment Charges

Rs. 500/- per installment per month. Insurance of Cars / Motor Vehicles

Cars / Motor Vehicles financed are to be comprehensively insured with any of the Insurance Companies listed on the approved panel of Soneri Bank.

Insurance Premium is payable up-front for each year during the life of the loan.

House finance:
Soneri Bank Ltd provides house finance up to 4 million limits. 20% receive in advance after that provides 4 million loans. Soneri Bank Ltd provide loan to purchase the house. But the house is in the ownership of the bank whenever you are payable of the bank.

Person finance:Soneri Bank Ltd provides person finance up to 3 lakh. It is a clean finance. Bank provides this type of loan after verification because in this type of finance no security required. Only one bank you take the clean finance.

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INTERNSHIP REPORT ON SONERI BANK LTD

Analysis:
SWORT ANALYSIS: SRENGTHS: SUPPORTIVE ENVIORNMENT FOR LEARINGIN: As mention in the report the environment of the Soneri Bank Ltd is very learned and as an internee I learned many things from the Soneri Bank Ltd. I observe the banking environment is very good. JOB ROTATION Job Rotation for the staff in Soneri Bank is a regular practice. It gives the employees insight all aspect of general banking thus making them quite comprehensive about the minute details to be an effective banker. WEAKNESSES: BROKEN DOWN ATM NETWORK: This is also a problem. ATMs has become the most essential facility of all the banks and huge no. Of people get benefit from them. But it is obviously to see an ATM that is shut out. It may be problem for the bank in the age of competition. SHARE PRICE: Share price of the Soneri Bank Ltd is very low. This show the worth of the bank. If the share price is very low then the worth of the bank is low. If the share price is very high the worth of the bank is very high.

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INTERNSHIP REPORT ON SONERI BANK LTD

LESS EXPENSION OF GLOBAL NETWORK Soneri Bank Ltd network expansion is less as compare to the others banks. Only 192 branches are work in Pakistan. The share price of Soneri Bank Ltd is only 4 Rs. LESS CHANCES OF PROMOTION: In Soneri bank Ltd less chances of promotion. The employees of Soneri bank Ltd are not happy the Packages which is provided by the Soneri Bank. Some employees are working for 3 to 4 year but not promote. OPPORTUNITIES: ESTABLISHING FOREIGH BANK NETWORK: Soneri Bank avail an opportunity to open the bank in the international markets. When Soneri bank ltd open the branches in the international market the share price of that bank increase. INCREASES THE SERVICES OF PRODUCT AND SERVICES TO RELATED ONLINE BANKING Soneri bank ltd want to increase the types of product and make better the ATM services and provide the more online facilities. THREATS: INCREASING OF PRIVATE AND INTERNATIONAL BANKS: Day by day increasing the private and international banks. If you are not provide the better facilities as compare to competitors, one time you are fired form the market. UNSTABLE ECONOMIC CONDITION: Terror, instability economic condition, interest rates, frustrations, agitations, all affects on the banking economy.

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INTERNSHIP REPORT ON SONERI BANK LTD

ADVANCES SOFTWARE USED BY THE BANKS Mostly banks use the latest softwares. If you not use the latest and advanced softwares the chances of accuracy go down. And chances of error go up.

Discussion or Suggestion
SBL should penetrate further and capture various corporate customers as well as retail customer by expanding their net work. In addition to excellent routine banking, it has earned a good name by offering special products. SBL focusing on advertising it would be good for this organization, because promotion makes people know about the product of SBL. SBL can enjoy handsome return its funding base by investing in capital market in the foreign countries. Management should give their customer good markup rate.

I discus these things with BOP, he told me the SBL pay package is very low. The employees of the Soneri bank Ltd are not happy with the management.

LIMITATIONS:
Soneri bank limitation: o Communication barrier o Not promotions o Salary package not charming o Low deposit as compare to others branches o Low accounts as compare to others banks

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INTERNSHIP REPORT ON SONERI BANK LTD

Limitation during internship: o Communication barrier o Not giving proper time o Lack of knowledge o Now work in this branch REFERENCES: o www.soneribank.com/ Internship activities:(i) (ii) (iii) BOM( Mr. Ali Fraz) Remittance(Mr. Aitsham) A/c Opening( Miss: Rabia)

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