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Background of United Commercial Bank Limited:

UCBL was incorporated in Bangladesh as a public limited with limited

liability as on June 26, 1983 and commenced its operation immediately after incorporation with due permission from Bangladesh Bank on 13th November 1983.
The bank is listed with DSE and CSE as a publicly quoted Company. UCBL started its operation in mid 1983 and has since been able to

establish the largest network of 130 branches.

UCBL is one of the oldest and leading commercial bank

of

Bangladesh.

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General Banking:
General banking activities is that kind of activities which included Account opening, Features of account, Nature of account, Transfer of account to other branches ,Closing of account, Types of cheque, Issue of cheque book, Remittance, Saving Depositing, Withdrawals and Clearing.

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Account Opening:
Banking business is very much correlated with banker customer relationship. To be a customer one person must have some sort of relationship with the banker. Account Opening section establishes this relationship by opening new accounts.

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United Commercial Bank Limited (UCBL) may open the following types of accounts and may receive the deposits in those accounts: 1. 2. 3. 4. Current Deposit. Savings Bank Deposit. Fixed Deposit. Short Term Deposit.

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Savings Bank Account:

Minimum amount of Tk 500/ is required for opening this type of account. The account may not be retained if the balance falls below Tk.200/. Not more than one account shall be opened in one name. A depositor shall be allowed to withdraw per week up to 25% of the balance of his account.

Current Deposit Account:

Current Deposit Accounts shall be opened with a minimum amount of Tk. 1000/ but under special circumstances it may be opened with Tk. 500/. It is payable on demand. No interest is paid in these types of accounts.
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Fixed Deposit Account:

Fixed deposit accounts are opened for a fixed period varying from three months to 1 year or above and are payable at a fixed date of maturity. Interest on this deposit is paid at the rate fixed by Head Office. From time to time depending on the period of maturity Interest is payable only at the maturity of the deposit.
Amount Up to 5000000 For 3 months 10% 10.50% 11% For 6 months 10.25% 10.75% 11.50% For 1 year & above 10.50% 11.50% 12.75%

Less than
10000000 10000000 & above

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Nature of Accounts:
1. Individual Accounts
2. Joint Accounts 3. Proprietorship Firm Accounts

4. Partnership Concerns Accounts

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Remittance:
It is really a risky thing to carry the money and is costly as

well. What they do, just purchase an instrument so that his/her fund can be transferred through his/her own bank. These short of activities are taken under inland remittance. Inland Remittance: Pay Order (P.O.)

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Pay Order:
Pray Order is an instrument, which is issued from a certain branch of a bank and must be cashed from the same branch. It is like the cash but exactly not the cash. The following table shows charges on issuing Pay Order:
Amount Tk(up to) 50000 Charges Tk 70

100000 500000 Over 500000

78 82 90 United We Achieve

Plastic Money:
Plastic money is the alternative to the cash or the standard Money. Plastic money is much more convenient to carry around as you do not have to carry a huge sum of money with you Nowadays even developing countries like India are encouraging the use of this plastic money more than cash due to these reasons.

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Types of Plastic Cards:

1. Credit Cards
2. Debit Cards 3. ATM (Automated Teller Machine) Cards

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Effects of Plastic Money:

Positive effects:
1. Purchasing Power 2. Time Saving

3. Extra Safety
4. Credit Limits 5. A need of emergencies

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Negative effects:
1. Over Budget
2. Increased Debt and High Interest Rates 3. Fraud

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Plastic Money in UCBL:

United Commercial Bank Limited, the leading first generation private sector bank has introduced global brand VISA credit card through a befitting manner in Dhaka Sheraton Hotel on 12th April, 2006.

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SWOT Analysis:
Strengths: 1. Company Reputation 2. Strong financial resources 3. Market share profitability 4. Impressive Branches Weaknesses: 1. Advertising and Promotion 2. Few staff meetings 3. Poor Recruitment
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Opportunities: 1. Diversification 2. Credit Cards and Tele banking 3. Separate schemes for service holders 4. Scope of market segmentation though diversified products. Treats: 1. Multinational Banks 2. Upcoming Banks 3. Lack of appeal to younger, student potential customers.
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Competitive Analysis:
There are thirteen banks and one financial institution issuing Credit Cards & Debit Card in Bangladesh at present.

Position of UCBL for Debit Card:

Debit Card BRAC Bank Ltd. Standard Chartered Bank (MasterCard & VISA) United Commercial Bank Ltd.

11% 46%

43%

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Position of UCBL for Credit Card:

Credit card

BRAC Bank Ltd. Standard Chartered Bank (MasterCard & VISA) United Commercial Bank Ltd.
8% 49% 43%

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Implication of the plastic money over the economy of Bangladesh:

In addition to credit cards, debit cards are now being introduced in Bangladesh. Money spent using these cards are deducted automatically from a bank account. The 21st century solution is plastic. Today credit and debit cards have largely replaced cheques as alternatives to cash. Debit cards in particular are rapidly growing more popular.

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The growth of credit cards has had an enormous impact on the economy-changing buying habits by making it much easier for consumers to finance purchases and by lowering savings rates (because consumers do not need to save money for larger purchases). According to Mohammad Anisur Rahman, officer of National Credit & Commerce (NCC) Bank, "a credit card has many advantages that make it preferable to paper money in many countries. The expansion of credit facilities holds great promise for spurring the growth of the Bangladeshi economy and pulling it out of recession."
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Findings:
The success of a bank depends on improved service delivery to its customers. While working on desk to desk, I had the following findings during my Internship: The total sitting arrangement for waiting clients and also for the employees is not satisfactory The number of employees engaged in rendering services is insufficient. Branches yet maintains Transfer register, which I think only waste of time. Maintenance, downtime, card error and networking problem. Limited ATM booth. United We Achieve

 Lack of resources of network like printers, more

computers. Pc Bank 2000 the software for database, UCBL is maintaining has options for preparing any bank statement. UCBL has started on- line banking but they only do it between their branches.

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Recommendation:
Banking is a service-oriented marketing. Its business

profit depends on its service quality. Thats why the authority always should be aware about their service quality. Though they have started online banking but they should quickly start banking between banks to banks. The bank should use enough close circuit camera for its safety. UCBL should increase the no. of computers, printers in the network.
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 Bank should offer more facilities to the customers such as

ATM machine & booths etc. As soon as possible the bank should launch more branches in Dhaka city as well as in other cities of the country. Delegation of authority should be made enough to make the speed of providing service fast. To provide quality service to the customer it is necessary to have a trained team in the organization or an institution. For this reason the bank should recruit more fresh, bright and energetic persons such as BBA, MBA, MBM etc. professional degree holders.
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Conclusion:
The importance of sustaining and improving bank performance is increasing day by day To be a leading private sector bank United Commercial Bank Limited has to apply some new dimensions in its customer service & its products and services. Otherwise, it would be quite hard for them to keep their business position in competitive market industry because without pure satisfaction from the customers no one can last longer in the market.
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