Banking Service and Social Interaction of Southeast Bank Limited

A bank is the place where many people who want to borrow money meet people who lend money. A bank acquires money from lenders, and recompenses interest. The bank offers this money to borrowers. Banks permit borrowers and lenders of different sizes to meet. Social interaction is the way people talk and act with each other and various structures in society. It may embrace the relations and dealings among families, business institutions, educational institutions or bureaucracies that are designed to meet up the need of creating order within the interaction itself. Social interaction of Bangladesh has faced three periods of improvement- Nationalization, Privatization, and lastly Internet. Southeast Bank Limited (SEBL) started its journey in the financial sector of the country as an investment company back in 1995. Now a day SEBL has 105 branches all over the country. It has established itself and added quite a lot to the national economy. In the year 2001 its approved capital was BDT 500 million and in 2010 that went up to BDT 10,000 million.

The banking procedure of SEBL is distributed into 5 eminent fields – 1) Conventional Banking, 2) Islamic Banking, 3) Credit service, 4) Foreign Trade and 5) Remittance service.

This report has been written in perspective of SEBL, Kakrail Branch. So in the report I have tried to focus on various products and basically innovative & development plan of marketing bank products and their interaction with customers and also customers’ reaction towards the bank.

Not only the foreign remittance is one of the major shares of Bank’s income but also their loan schemes play a vital role in success of SEBL. In deposit scheme they have offered Savings Account (SB), Current Account (CD), Fixed Deposit Receipt(FDR),Double Benefit Scheme, Special notice deposit, Monthly Savings Scheme, and Millionaire Deposit with attractive interest rate than the competitors. Islamic Banking of Southeast Bank arranges all schemes of conventional banking for the conservative Muslim clients. In addition, there is a scheme for saving money to perform Hajj, pilgrimage to Mecca. It has credit services like Working Capital, over draft, Project Loan and many more. It also offers WESTERN UNION MONEY TRANFER service to their clients. It has internet banking opportunity for the clients. They have made a strong position in the banking sector. They can be one of the best private banks In Bangladesh, if they can match with the expectation of their clients, through their best banking service.

Definition of Concepts of Bank:

A Bank is the financial institution that takes delivery of, brings together, transfers, pays, exchanges, offers loans, capitalizes or safeguards money for its customers.

Banking:

Banking is the trade of providing economic facilities to the private individuals, organizations, government agencies, and commerce and industries.

Central Bank:

Central Bank is the bank which reins all other banking organizations functioning throughout the country. Central Bank is called the “Lender of Last Resort”. Central Bank upholds the price constancy through financial and monetary policy measures, dealing with the country’s foreign exchange and the gold reserve and controlling the banking sector of the country.

Commercial Bank:

Commercial Bank is the one which saves small savings from the public by proposing them with a stable rate of interest and advancing the loan able funds out of the deposited money to enterprising consumers having charges comparatively greater rates of interests. The margin between these two rates is the bank’s profits.

Background of Southeast Bank Limited:

Southeast Bank Limited bears a unique history of its own. It is a private commercial bank in Bangladesh. It was established as a third generation private sector bank of Bangladesh. The journey of this bankwas inaugurated when it was integrated as a Public Limited Company on March 12, 1995. The Southeast Bank received its Banking License from the Bangladesh Bank on March 23, 1995.On May 25, 1995 the first branch was opened by Late M. SaifurRahman, the Honorable Finance Minister of the Government of the People’s Republic of Bangladesh, at 1, Dilkusha Commercial Area which is actually the center of the commercial area of Dhaka. The current Chairman of the Bank is Mr. AlamgirKabir, FCA. Mr. M. A. Kashemand Mr. Yussuf Abdullah Harun were past Presidents of the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) who are now board members of SEBL.

In the year 2001 its approved capital was BDT 500 million and in 2010 that grew up to BDT 10,000 million. The Bank’s paid up capital reached to BDT 6930 million from BDT 363 million in 2001. The Bank grossed operational revenue of Tk.6, 085.66 million. On 31 December 2011 Bank’s total deposits increased to Tk.127, 178.22 million. Its overall resources extended to Tk.158, 078.59 million. At this whole operational time of improvement,

Earning per Share (EPS) was Tk.2.33, Net Asset Value per share was Tk.23.30 and Net Operating Cash Flow per share was Tk14.40. The Price Earnings Ratio of the Bank was 12.88 times in 2011. The Capital & Reserves of the Bank flied a record of Tk.19, 000.06 million as on 31 December 2011. The Bank sustained a capital acceptability ratio at 11.46 percent as on 31 December 2011 against prerequisite of 10 percent set by Bangladesh Bank. Credit Rating Information and Services Limited (CRISL) rated the Bank AA- (Double A Minus) for the long term and ST-2 for the short term grounded on the financial statements of the Bank for the year 2010. Their rating for the long term endured legal up to 1 June 2012.

The Credit Rating of the Bank for the year 2011 has been allotted to Credit Rating Information and services Limited (CRISL). Southeast Bank Ltd. earned operational returns of worth Taka 5.50 billion in 2012 compared to Taka 6.05 billion in 2011.

From the inauguration of Southeast Bank, it is responsive to its societal accountabilities. It has formed SEBL Foundation to execute its social liabilities. Southeast Bank Foundation functions under a double bottom line agenda. Here bank’s continual growth points and social responsibility go with each other because it attempts to build a poverty free and affluent Bangladesh. The Bank deliberates CSR actions not only as a charitable service but also add to fundamental Banking process. It carries on this progression with a vision to upsurge Bank’s brand image. SEBL and its CSR actions grasp all the features of the society for helping the people. Southeast Bank Foundation introduced a scholarship program for underprivileged and meritorious student in 2009. The Foundation has circulated 827 scholarships to the secondary level students and the number of scholarships to higher secondary level students’ set upright at1263. Since 2011, the program has been extended to contain graduation level students. At first, the scholarships were distributed to 75 students who were admitted at public universities, medical colleges, engineering universities and agricultural universities. It is correspondingly active about environmental calamity that may harm this country in future.

This bank is planning to shape up a hospital and schools for the people of the society whose incomes are very near to the ground.

Southeast Bank takes superiority off etching women into the banking career in a significant number for gender equality. Currently 32% of SEBL’s personnel are women that will rise to 45% over the next five years.

Vision, Mission and Objectives of SEBL:

The determination of Southeast Bank Limited is dedicated to deliver quality services in all zones of banking activities with the intention to enhance the increased value of shareholders’ investment and offer maximum potential reimbursements to the customers.

Vision: The vision of Southeast Bank Limited is to be a premier banking institution in Bangladesh and contribute significantly to the national economy.

Mission: The mission statements of Southeast Bank Limited are as following –

To provide high quality financial services with state of the art technology
Providing fast customer service
Sustainable growth strategy
Following ethical standards in business
Steady return on shareholders’ equity
Innovative banking at a competitive price
Attract and retain quality human resource
Commitment to Corporate Social Responsibility

Objectives:

The objectives of Southeast Bank Limited are as following –

Provide service with high degree of professionalism and use of modern technology
Create long – term relationship based on mutual trust
Respond to customer needs with speed and accuracy
Share their values and beliefs
Grow as the customers grow
Provide products and service at competitive pricing
Ensure safety and security of customers’ valuables in trust with the bank

Values, Strengths and Competencies:

The core values of an organization are those values which they hold to form the foundation on which they work and conduct. The values underlie an organization’s work, how to interact with each other, and which strategies they will employ to accomplish their mission. The core values are the basic elements of how an organization goes about their work. The core values of Southeast Bank Limited are Integrity, Respect, Fairness , Harmony, Team Spirit, Courtesy, Commitment, Service Excellence, Insight and Spirit, Enthusiasm for Work and also Business Ethics.

The term core strength implies the inner capacity of a human body. This core strength is as much needed for the well-being of an organization. Southeast Bank Limited also has some core strength which is more specific for the welfare of its stuffs and also clients. Transparent and Quick Decision Making, Efficient Team of Performers, Satisfied Customers, Internal Control and Compliance, Skilled Risk Management and Diversification are some of the core strength that Southeast Bank is comprised of.

Core competencies are the blend of assembled knowledge and methodological capabilities that permit a business to be competitive in the marketplace. In theory, a core competency should agree to a company to enlarge into new markets and make available a noteworthy advantage to consumers. It should also be inflexible for the rivals to copy their own ideas. Knowledge, Experience and Expertise, Customer Focus, Transparency, Determination, Zeal for Improvement, Reliability and Pursuit of Disciplined Growth Strategy are some of the core competencies of SEBL.

Different Banking Sector of Southeast Bank Limited:

Conventional Banking: According to Banking Act (Singapore), Section 2, Interpretation, Conventional Banking means the business of receiving money on current or deposit account, paying and collecting cheques drawn by or paid in by customers, the making of advances to customers, and includes such other business as the Authority may prescribe for the purposes of this Act. Southeast Bank offers common deposit accounts for example – Savings and Current Account for specific consumers.

There are also some striking deposit programs for the clients like Fixed Deposit Receipt, Double Benefit Scheme, Special notice deposit, Monthly Savings Scheme, and Millionaire Deposit. The deposit schemes offer competitive return. SEBL has introduced Dual currency Visa credit card for its customers. People can receive the prospect to avoid carrying cash even on roaming worldwide. Small descriptions about these schemes are given below –

Savings Bank Account: Savings Bank (SB) Account is aimed to the different savers who want to protect a small amount of their earnings which they may use in the nearby future and plan to ensure some lucrative returns on such savings. They can deposit an insignificant amount of their earnings and take out whenever they need it. But the overall numbers of drawings over a period of time are restricted in nature. The tagline for this scheme is “Save money and build a better tomorrow”.
Current Deposit (CD) Account: Southeast bank has CD scheme with the message “Your wallet at the Bank”. Current Deposit (CD) Account is a transactional account where there is no constraint on number of transactions in the account. Current Deposit (CD) Account can be opened for individuals and commercial concerns comprising of non-profit organizations.
Fixed Deposit Receipt (FDR) Account: Fixed Deposit Receipt (FDR) Account deals with those customers who want the chance to capitalize a fixed amount for a fixed period at a fixed rate of interest. The customers have the option to re – invest their funds both principal amount and interest amount on maturity or principal amount and the interest amount being paid into their SB or CD accounts. The tagline which is used for marketing this scheme is “An umbrella for uncertain future”.
Special Notice Deposit (SND) Account: Special Notice Deposit (SND) Account is an interest bearing deposit with the tagline “A savings account to give steady returns” where an advance notice of 7 to 30 days is mandatory for amount taking out from the account. SND account is generally opened by firms or corporate financial institution.
Monthly Savings Scheme (MSS) Account: Southeast bank delivers this special scheme with the message “Your dreams may turn into reality through Southeast bank’s Monthly Savings Scheme (MSS)”. The features and benefits of this scheme is being a difficulty free deposit, loan of Maximum 80% against the lien of the MSS amount deposited can be gained. The account holder can close the account before the deposit becomes matured.
Double Benefit Scheme (DBS) Account: Double Benefit Scheme (DBS) Account is a time stated deposit scheme for customers where the deposited money will be doubled on maturity. The main feature of this scheme is clients have to deposit an amount of Taka 10,000 or its multiple. This deposited amount will be doubled after 6 years.
Millionaire Deposit Scheme (MDS) Account: The tagline of this scheme is “Be a Millionaire”. Millionaire Deposit Scheme (MDS) Account is a time specified monthly deposit scheme for clients where the deposited money will convert to one million on maturity. The time period of this scheme can be 4,5,6,7,8,9 and 10 years term. Deposit can be done by monthly installments.
Pension Savings Scheme: The motive behind this scheme is to offer the clients the prospect of saving their hard earned money every month for a safeguarded future. That is why they have used such a noteworthy tagline like “Save every month for a secured life”. The most attractive feature of this scheme is loan of maximum 80% against the lien of the PSS amount deposited can be availed. Clients have to pay the Installment Amount by 15th day of a Month.

Requirements:

The basic requirements to enjoy all the schemes under conventional banking mentioned above are as following:

Photocopy of Citizenship Certificate / Passport/ National I.D. Card / Driving License.
Two copies of latest passport size photograph duly attested by the introducer.
Certified document(s) for source of earnings.
Tax indication number (TIN) Certificate.
Cheque on Self or Cash deposit;
Fees and Charges: As per existing schedule of charges which is separately displayed on the web site or be mentioned by the stuffs

Islamic Banking: As mentioned earlier in this report that Southeast Bank makes available all services of conventional banking while conducting Islamic Banking. But the terms and conditions of all the schemes are totally according to Islamic bylaws of trade and sponsorship. This special banking procedure is for those clients who are willing to implement their money in comparison with the Islamic belief. The schemes under Islamic Banking are given below –

Mudaraba Savings Bank (SB) Account: Mudaraba Savings Bank (SB) Account is intended for those savers who are in need to save a small part of their income to be used in the near future and also plan to have some income on such savings. They can deposit a small amount and withdraw whenever they desire but the total numbers of withdrawals over a period of time are limited just like conventional SB account.
Wadiah Current Deposit (CD) Account: Al – Wadiah Current Deposit (CD) Account is a transactional account where there is no boundaries on number of transactions in the account. It is an easy – to – use cash account.
Mudaraba Special Notice Deposit (MSND) Account: Mudaraba Special Notice Deposit (MSND) Account is an interest bearing deposit where advance notice is required for withdrawal. MSND Account is very much alike to CD Account.
Mudaraba Term Deposit Receipt (MTDR) Account: Mudaraba Term Deposit Receipt (MTDR) Account dealsthe customers with the opportunity of capitalizing a fixed amount for a fixed period at a fixed rate of profit. The customers have the option to re – capitalize their funds both principal amount and profit amount on maturity or principal amount and the profit amount being paid into their Mudaraba SB or Al – Wadiah CD accounts.
Mudaraba Double Benefit Scheme (MDBS) Account: Mudaraba Double Benefit Scheme (MDBS) Account is a time-specified scheme in which the deposited money will be doubled when it will gain maturity.
Mudaraba Monthly Savings Scheme (MMSS) Account: This scheme is same as the conventional Monthly Savings Scheme Account.
Mudaraba Hajj SanchayProkalpa: With the tagline “Scheme to perform Hajj” Southeast bank has launched this special Hajj scheme. Mudaraba Hajj Sanchaya Prokalpa is intended to generate a fund to perform Hajj through small savings on monthly basis.
Mudaraba Millionaire Deposit Scheme (MMDS) Account: Mudaraba Millionaire Deposit Scheme (MMDS) Account is a time specified monthly deposit scheme for clients where the deposited money will become millions on maturity. Time period required for it can be 4,5,6,7,8,9 and 10 years term just like the conventional Millionaire Deposit Scheme but The scheme will be conducted on Mudaraba principal of Islamic Shariah.
Mudaraba Pension Savings Scheme: Mudaraba Pension Savings Scheme offers clients to save their earnings every month for a secured future.

Loans and Advances: Serving the clients with a special scheme called Loans and Advances is a well-known feature of Southeast Bank Limited. Though all the banks offer this service but SEBL offers loan and advance to eligible customers for helping them in trade and business and at the same time to create employment. Thus the bank tries to add fund in national economy. Different types of schemes under this segment are given below –

Working Capital Finance: This is a loan facility planned to meet day to day operation of business concerns and manufacturing companies. Any branch of the bank is authorized to work out the loan. The processing is fast and easy. The tagline behind this loan scheme is “A tailored solution to match your needs”.
Overdraft: It is a demand credit facility to meet day to day operational requirements. Tenure of this scheme is one year. Southeast Bank serves OD scheme on hypothecation of finished goods or raw materials. The receivable bill of the concerned work order decides the maximum limit of this loan. OD is also assisted against cash guarantee. The tagline behind this loan program is “A solution to match your needs”.
Project Finance: This is a term loan facility provided by the Bank for acquisition of fixed assets and machinery for any Project. “Financing your project” this statement clearly portrays the reason behind this loan program. A prospective project has to apply to sanction such a loan for acquiring fixed assets and machinery. This term loan is designed to patronize turnkey projects.
Syndicated Finance: Fund requirements for a large project may not be arranged by Southeast Bank alone. In such a case the bank is ready to serve the clients through syndication with other banks under common terms and conditions. In this loan program, borrowers can access from a diverse group of financial institutions for funding and funds can be raised at competitive price. The tagline of this program is “A value added service for the corporate”.
Packing Credit: This loan is designed to support export business with the tagline “A pre shipment finance facility for the exporter”. During manufacture and packing of export goods, required fund is made accessible through this scheme. The normal payback time is one year, but it is renewable.
Loan Against Export Bill: This is a demand loan facility for the exporters in the form of negotiation or acceptance of export bills by the Bank. In this way Southeast bank shows its concern in export business. It increases the present cash flow of the exporter to improve the financial condition and strengthen the financial ability. It also simplifies the financial procedure.
Loan Against Trust Receipt: Importers need finance at the post shipment stage. The bank is totally equipped to offer the service for a commendable client. The client may have the control of their imported cargo in time with the assistance of SEBL. It allows an importer to take custody of the goods for resale and increases the current cash flow of the importer to develop the financial condition and reinforce the financial ability.

Foreign Trade: Southeast Bank has established the know-how both in export and import banking services. It has a widespread system of correspondent banks around the world. The bank is ready to serve its clients continuously in all segments of banking needs associated to export and import businesses.

Export: Southeast Bank Limited deals with an extensive variety of export services. By steering all export related contacts through Southeast Bank Limited could remove many of exporting difficulties. With its’ proficiency and experience, Southeast bank can build and modify solutions for particular necessities for example – export LC advising, export packing credit and export bill negotiation and many more.
Import: Southeast Bank Limited offers inclusive series of import services. Southeast Bank Limited is greatly appreciated in the sphere of international finance and cross border transactions.

Remittance Service: Southeast Bank Limited is constantly motivating to form its remittance business by serving quality services through a network of presumed banks and exchange houses around the globe along with afar-reaching network in the country to transport money to the recipients in the safest form and quickest possible time. Southeast Bank provides remittance service for the emigrants who are employed overseas. Wage earners may open accounts in SEBL. The receiver can acquire the money online at his account in any branch of the bank. He may also have the money over the counter at any branch. No service charges are being acquired from recipients. Apart from the branches of Southeast Bank, instant cash payment services may also be attained from the branches of 10 private commercial banks.

SEBL Card: SEBL Visa (Dual) Credit Card has exclusive feature of permitting limits for both local and international practice in a single card. However, one may decide on using separate cards if one discovers the equal convenience. SEBL Visa (Dual) Credit Card is recognized at any commercial location or payment counter exhibiting Visa logo in any corner of the world. It is broadly recognized at Merchants & ATMs Worldwide. It has competitive annual / renewal fee.

Governance of Southeast Bank Limited:

Governing body of a bank is a very indispensable element of a successful organization. Governance refers to the processes of governing, whether commenced by a government, market, or network, whether over a family, tribe, formal or informal organization, or territory, and whether through laws, norms, power, or language. It narrates the processes and decisions of defining actions, endowment of power, and proving performance. The governing body of Southeast Bank Limited is consisted of Board of Directors, Management Team, Audit Committee and the Shariah Supervisory Committee.

Banking and Social Interaction –

Social Interaction:

Social Interaction speaks of the term how people intermingle on a social basis. It can be any method of communication for example – direct, indirect, face to face or via television, internet, radio or via any visual or non-visual media.

The first thing which communicates with the word interaction is customers. Different ways of interaction with the customers by the Bank are mentioned below –

Customer interaction with the Conventional Banking department:

This is the place where accounts opening, balance checking, account closing, solvency certificates, check book/ Debit card/Internet banking requisitions, check Book/Debit card entry along with all general information are recorded. In Southeast Bank, this is also the reception of the bank where customers are greeted from The entrance.

When a client comes for an account opening he/she is requested to sit in front of the Junior Officer. Here they are asked to fill account opening form respectfully. Though there is any gathering in front of the desk or not, they are well trained to behave properly with every client.

They also respect every person not withstanding where they are from. If the customers are incapable of filling the forms on their own, the officers assist them with a smile on their face. They do not let their working pressure alternates their performance.

This is also the division where customers call to acquire statistics about their accounts as well as getting their balance statements or make inquiries about their account balance over the phone.

Customer interaction with the cash department:

In the cash department, customers come to take out, deposit cash and also to recompense bills for services and other expenditures. Though the cashiers remain very busy all the time, still they respond to the customers about the questions and help them out with their checks, assist them to recount the money or in paying their bills. It is a department where customers come continuously all day long and stand in several queues in front of several booths of the cash department.

Customer interaction with the check clearing department:

Customers come here with their checks of other banks received from their clients. The officer greets them with cordial respect and adjusts their checks, put a few significant seal on it and enquires about whether they have any other queries or not. A lot of clients sometimes call to ask whether their checks has been cleared or not. The officer with composure receives the phone and finds out whether it has been done or not and if the fee goes beyond their existing balance then the operator calls and asks them whether they are going to pay the added money to manage the account within that day or not.

Customer interaction with the loan department:

This is one of the most important interaction zone for banks. When customers come to ask for loans, it is not only enough to check their papers and authorize the loan. They have to sit with the customers, discover all the necessary information they want, then they search for any external information about them. According to Southeast bank officials, it is not only the mortgage which supports customers to get a loan, the most important thing here is the customers’ generosity.

Sometimes the borrower or the people who want to take loan, interacts with the bank officials by going at the bank or calling them to ask about the progress of the loan scheme or how much is left to pay back the loan, the amount of interest to pay and many other information.

The real agreement comes when the borrower is incapable of paying the loan within the due time. According to the bank officials, they dislike to grab hold of the borrower mortgaged property and put it into auction. They always take attempt to communicate with the party. Either the bank offers them a date postponement or conversation about any appropriate way which ensembles both of them in repaying the dues. But if nothing works out then they are bound to take that radical step of auctions.

Customer interaction with the promotional activities:

The better method of interacting with customers or grasping their responsiveness every now and then through their preferred channels. Southeast Bank Limited uses attractive bill boards, leaflets and posters to drive the attention of the customers towards their various services.

Social Interaction:

Every single company consumes its’ particular approach for doing communal interaction with people. Facebook, twitter, Myspace, Ibibo and Orkut are some of the social networking sites which are now being used to communicate and grab the attention of the customers. Southeast Bank does not use any of them, but they have their official website of which few people may the reason might be being their lack of knowledge about the advantage of using social media to boost their development.

Bank and Social Media Policy:

Bank identifies the significance of the Internet in the day-to-day operations in banking sector. The Internet shows the major part of the Bank’s whole tactics from marketing to enrollment of fresh employees. At present time, the Internet is largely identical to mass medias and its widely hold in social networks such as Facebook and LinkedIn. Usage of Facebook, LinkedIn, blogging, wikis and other virtual social medias have become common now a days.

This policy is projected to support employees in creating applicable assessments about work related blogging social media interaction. This policy must be used in unification with other gears which are provided to employees, comprising of the Acceptable Use Policy, Employee Guide to Information Security, Human Resources Guide to Social Media Risks, and related training.

The link between professional and personal life can become distorted. Activities inside or outside of work that can distress the job presentation, the performance of others, or Bank business interests is a suitable focus for Bank policy.

What Banks expect from Social Media:

A community bank identifies the prominence of the employees who are fitting together in the bank and assisting to outline discussions regarding the Bank and the communities they serve.

A bank is dedicated to upkeep the employees’ aspirations to work together perceptively and socially on the Internet through social media.

What Banks expect from Social Media:

As technology tools permit an easy exchange with community members, governmental representatives, clients, and the public, the bank boost sits’ employees to share the visions and proficiency gained through working at Bank.

Targets of the Bank’s Social Media Efforts:

The Bank’s social media efforts are targeted at several stakeholders:

Existing Customers: The first and foremost target of the bank is to hold the existing customers for a long period of time. It has to be responsible for serving information, conversation and banking opportunities to the community. Ultimately, the objective is to transform a customer into an inseparable part of the Bank.

New Customers: To form proper responsiveness in the native marketplace that results in new customer commencing – deposit, lending, and other services. The marketplace is occupied with rivals with comparable banking products and services. Social media permits the Bank to refine it and set itself separately from the rivalry.

Media: Social media provides the Bank with a raised area to interconnect with the media regarding its continuing events and history. With the help of social media the Bank can implant videos and other media that can help the media while emerging the content.

Regulatory Agencies: Social medias make available a channel through which the Bank can be on high spot with its’ regulatory requirements. For example, social medias let the Bank to establish its compliance with the Community Reinvestment Act. Additionally, social media provides a suitable mechanism through which it can obtain either consumer criticisms or encouraging responses.

Community At-Large: Social media familiarizes Bank to the community at a great extent. The content of social media delivers an information circulation channel with the help of which concerned groups can acquire knowledge about Bank.

Employee Accountability:

Being capable of sharing the customers and the Bank’s activities devoid of prior management approval means the Bank trusts the customer to understand that by doing so the customer is accommodating a greater level of hazard for greater rewards. Every Bank employee is personally answerable for the content he or she announces on any form of social media. That is why the employee should be thoughtful about how he or she will present information in online social networks.

Employee Accountability:

One may have acknowledged oneself as a Bank staff member, either openly or as portion of a user profile. If so, ensuring the employee’s profile and related content is reliable by presenting themselves to the Bank’s stakeholders, their business contacts, and also their colleagues and peers.

High-ranking management ought to have exceptional responsibility with their Internet presence by advantage of their high profile position within the Bank, even if they do not clearly recognize themselves as being associated with the Bank. Such senior level staff should be adopted with the fact that his or her posts will be seen and read by Bank stakeholders and that they will associate such posts with the Bank. Trust is an indispensable component in the constructive culture which is endeavoring to achieve at the Bank.

Social Media Oversight:

The Social Media Manager is in charge of dealing with the Bank’s social media approach. The Social Media Manager or an assignee, will arrange for training and observe movement on an ongoing event. Investigations on the Bank’s social media policy must be progressed to the Bank’s Social Media Manager.

The Social Media Manager is in authority of defining “community managers.” Community managers are employees who are provided with the power to act as administrators for the bank.

The Social Media Manager must select individuals as community managers that hold the vital technical expertise as well as appreciate the threats related with social media. All community managers have to report straight to the Social Media Manager relative to matters related to social media – nonetheless of their role within the Bank.

Origin of the Report:

Banking is an indispensable business. It is the central point of a country’s economic functions. A bank is alike a heart of the economic configuration and the capital provided by it is like the blood in it. As long as the blood is in flow, the organs will stay sound and healthy.

Over the last few years the Banking world has been going through a lot of revolutions. As a part of the economic transformations, banking industry has been decontrolled and made competitive. New rivals have added to the competition. Information Technology revolution has made it promising to make available both easiness and flexibility in procedures towards the customers. Quick treads in information technology have redefined the role and structure of banking in Bangladesh.

Moreover, due to disclosure to global movements after Information explosion led by Internet, customers – both Individuals and Corporate – are now demanding better facilities with more service offerings from their banks.

The conception of this report is mostly depends on the facts covering the process of how banks interacts with their customer in accounts, clearing, cash, credit and loans. It will also focus on how it is performing in the social market. It will cover the vast world of advertising, its websites, its on-phone services, and the role played by the bank in the field of social responsibilities. Basically this paper is going to focus on everything that relates with interaction of banks with public directly as well as indirectly.

Objectives of the report:

The core objectives of the study are as follows:

To relate the theoretical knowledge with the real-world of banking.
To categorize restraints to operational efficiency.
To explore the requirements of the bank’s consumer interaction department whether it is directly or over the phone.
To recognize the necessity and objective of credit management.
To ensure the idea of the existing systems of dealing with customers in loan and advances innovated and practiced by Southeast bank limited.
To give details of the meaning and concept of bank’s social responsibility.
To obtain the in depth knowledge on about Southeast bank’s advertisements.
To compare with the modern age interaction system of other banks with Southeast Bank Ltd.
To achieve the applied knowledge by working.

Methodology:

This report is made on the basis of the theoretical knowledge of different courses and the practical working experience in Southeast Bank Limited. It is one of the well-known private commercial bank in Bangladesh. Its public reporting system is noticeable. Data is achieved in a well manner. Data arrangement is logical that helps in an easy application of analytical tool.

Primary data: Face to face conversation with the bank officers and staffs, study of different files of different section of the bank, the practical working experience gained from different departments of the branch are used as the primary data.

Secondary data: Annual report of Southeast Bank limited (2010), unpublished data collected from the branch, some access to the database, different surveys conducted by previous interns and other institutions were also of great support.

Secondary data is collected from two different sources –

Internal Sources:

Bank’s Self-made customer surveys
Previous Interns surveys
Any information regarding the Banking Interaction sector

External Source:

Different books and periodicals related to the banking sector
Bangladesh Bank Report
Newspapers
Website of Southeast Bank Limited

Data Analysis:

From this data it can be interpreted that SEBL has a impartially good relationship sustained with the public. Not only people are getting to know about it from their advertisements but also mostly from the already gratified customers who openly give reference for this bank.

Recommendation:

These recommendations are based on the observation of the researcher throughout the whole internship program –

There should be more audio and video advertisements about Southeast Bank in television as well as in radio.
There should be a social networking page of Southeast Bank where customers can easily post their both positive and negative feedbacks and also their recommendation which will help the bank to develop in competitive with other banks.
There should be more billboards about of this bank.
This bank should arrange repeated marketing campaigns to universities and shopping malls to grab more public attention like other banks.
There should a separate call center for this bank as officers have to answer the phone calls of the clients and deal with face to face customers at the same time. Establishment of a separate call center will reduce the difficulties of the officers.
They should sponsor some major as well as minor events to catch public responsiveness for example – music concerts, theatrical dramas, health programs and other recreational events. This will help the bank a lot to earn public awareness.

Conclusion:

While working in Southeast Bank for around 3 months, it has been found that it has every prospective to be one of the leading banks of Bangladesh but it failed to achieve that position due to the lacking in attaining public attention. This Bank needs to learn from other successful Banks that if it pours $1 in advertisement, it will be multiplied into $1000 back in return.

The main thing on which they need to focus is Social Networking that is the main topic now a day. The more they will focus on social interactions with customers, the more they will gain in return.