Commercial Banking Operation and Services of Uttara Bank Ltd

Chapter 1

Executive Summary

This internship report is a partial requirement for the Bachelor of Business Administration. As part of the internship program, I was placed Uttara Bank ltd at Said Pur branch, Nilphamari. During the period of internship I have landed a lot about commercial Banking operation of this organization.

Said pur Branch began its journey with the inauguration of the Uttara bank at Said pur Branch, Nilphamari. Its an optimum aggregated outcome of “ The Leadership Style on”.

Analyzing the leadership Style on a particular organization is a really tuff job is accomplish, but we have enjoyed it very much.

Some of the problems of the Said pur branch are summed details in report,-lack of new clients, shortage of staff, staff de-motivation due to late working hours, over dependence of few staff, and few clients, absence of training, insignificant marketing efforts. As business community now has more option to avail international trade service through a number of institutions practically more customer orientation is to satisfy customer needs and retain these customer. Finally some policies implementation and recommendation for future improvement of the branch.

Chapter 2

EVALUATION OF BANKING SYSTEM OF BANGLADESH

Topic to be covered

Evolution of Bank

The modern banking system is an evolutionary growth right from the Middle Ages. The genesis of modern bank lay in the functions performed by the Merchant with wide reputation commanding confidence far and near could easily finance domestic and foreign trade. The famous merchant houses established branches to trade centers at home and abroad began to use credit devises to accommodate their customers Jagath Seth, for example, had his branch office in London in the 18^th century. Even earlier the indigenous hounds, which finance domestic trade in India was the innovations of the local merchants. In this credit operation in these credit operations in the ancient merchant houses lay the germs for the development of the important credit instrument lately known as bill of exchange and these merchants were virtually forerunner of the modern exchange banks.

The second ancestor of banks was the moneylender. People with surplus quite unaccustomed with money lending business and trade secrets could safely keep their surplus with the moneylender for investment by the letter on firms of a share of profit. The moneylender thus was an embryonic banker performing duel functions lending money and mobilization of savings. Exactly the modern bank does this as a lineal descendant of the ancient moneylender. The third in the chain of ancestors stood the goldsmith have safe vaults for the safe upkeep or their gold stocks. They were the embodiments of safety and security. The practice later on changed as the goldsmith utilized the deposits for earning profits. A modern Bank then comes in itself the functions of all the there ancestors like the merchant it makes a specialty of financing foreign trade like the money lender collects savings and end like the goldsmith provides a convenient mechanism by which people can make payments to each other.

Development of banking in Bangladesh

Bank system was practiced in the Indian subcontinent from the ancient period. In Indian subcontinent merchants, goldsmith moneylenders were the primary bankers. During the Moghal period banking and credit business was enchanted rapidly. Then the agency house of jagth Seth was similar to the merchant house of Lombardy Street. In 1700 AD “Hindustan Bank” was established as the first joint stock bank. In 1784 “Bengal Bank” and in 1786 General bank of India was lunched. Then both the bank absolved respectively in 1793 and 1832.

During the early period of nineteenth century in 1806 “Bank of Bengal” in 1840 “Bank of Bombay” and in 1843 “Bank of Madras” was established. These Banks were called Presidency Bank. Then in 1920 these three banks merged to “Imperial Bank of India”. In 1947 after the separation bank business in our country faced a severe disaster as non Muslim Bankers left to India. Then “Reserve bank of India” acted as the “Central Bank of Pakistan” in 1948 to re-build the Bank Business “State Bank of Pakistan” was established as central bank of Pakistan.

In 1971 Bangladesh became independent. After liberation “Bangladesh Bank” was automated with the assets and liabilities of former “State Bank of Pakistan”. It is the central bank of Bangladesh.  Three foreign banks were also active with 14 branch offices. Before liberation 80% of banking activities of our country was controlled by Pakistan. After liberation reformed the destroyed economy on 26^th March 1972 the banking sector of Bangladesh was nationalized. After nationalization government of Bangladesh changed the entire bank to six banks which are Sonali Bank, Rupali Bank, Janata bank, Agrani Bank, Pubali Bank & Uttara bank. their role in development of trade and commerce of Bangladesh as well as in the development of economy.

Banking structure in Bangladesh

Banking system of Bangladesh comprises of different types of bank and financial institutions. The name of our central bank is “Bangladesh Bank” it is the director and regulator of banking system of Bangladesh. Banking structure in Bangladesh is briefly described below.

•  Bangladesh Bank is the central bank of Bangladesh. It is director of money market in Bangladesh. It regulates the activities of other banks of Bangladesh through credit control, exchange control etc.

• Commercial bank both the public and private sectors of commercial bank are active in Bangladesh. There are 4 nationalized commercial banks- Sonali Bank, Rupali Bank, Agrani Bank, janata bank.

• In 1983 priority gives on private sector of banking business. As a result two nationalize bank was handed over to private sector, which are Pubali and Uttara bank and now Rupali bank is supposed to hand over in the private sector.

• Now in our country a large number of private banks are doing banking business.

Hierarchy Analysis

Banking sector has a vital role to play in the economic activities and development of any country. In the 80’s for the first time a number of banks in the private sector were allowed. Subsequently in the mid 90’s some more banks in private sector also commenced operations. Finally, in 1999, 3^rd generation of private sector banks was given permission to operate.

At present there are 51 scheduled banks operating all over the country. Out of these, 9 are state-owned (including five specialized banks), 29 are private commercial banks and the rest 13 are foreign commercial banks. Private commercial banks are divided into three groups according to their commencement of business. They are familiar in the name of 1^st generation, 2^nd generation and 3^rd generation banks.

1^st Generation Banks (Established 1982-1988):

National Bank Ltd, The City Bank Ltd , United Commercial bank Ltd, AB Bank Ltd,  IFIC Bank Ltd , Islami Bank Bangladesh Ltd  and  Al-Baraka Bank Ltd  .

2^nd Generation Banks (Established 1992-1996):

Eastern Bank Ltd, NCC Bank Ltd, Southeast Bank Ltd, Dhaka Bank Ltd, Al Arafah Islami Bank Ltd, Social Investment Bank Ltd and Dutch-Bangla Bank Ltd.

3^rd Generation Banks (Established 1999 to present):                                               

Mercantile Bank Ltd,  Standard Bank Ltd,  One Bank Ltd,  EXIM Bank Ltd, Premier Bank Ltd, Mutual Trust Bank Ltd, First Security Bank Ltd, Bank Asia Ltd,  The Trust Bank Ltd,  Jamuna Bank Ltd, BRAC Bank, and Shahjalal Islami Bank Ltd.

Chapter 3

ORGANIZATIONAL PART

Topic to be covered

Historical Background of Uttara Bank

Historical Background of Uttara Bank Limited

Uttara Bank Limited is deeply related with the history; tradition and living slandered of human of the country. This Bank started its operations on 28^th January 1965 as a commercial bank named by Eastern Banking Corporation, which is interpreting by a privet organization. In 1972 the Bank takes this name Uttara Bank, It had been limited company in 1983 that is named Uttara Bank limited. On 21^st August 1983 it had got certificate for operation their business. Its registered office is situated in 90 Motijeel, Commercial area, Dhaka-1000. This Bank serves their service by 204 branches. It has been scheduled organization of Dhaka Stock Exchange by selling their shears in 1984. It is also been scheduled of Chittagong Stock Exchange in 2004.

• UBL is one the largest private banks in Bangladesh
• It operates through 199 fully computerized branches ensuring best possible and fastest services to its valued clients.
• The bank has more than 600 foreign correspondents worldwide.
• Total number of employees nearly 3,000.
• The Board of directors consists of 14 members.
•  The banks is headed by the Meaning Director who is the Chief Executive Officer
• The head office is located at Bank’s own 18-storied building at Motijheel, thcommercial center of the capital, Dhaka.

DIFFERENT WINGS

HEAD OFFICE

Chairman Secretariat

  Managing Director’s Secretariat

  Board Department

  Share Department

  MIS & Computer Department

  Establishment Department

  Stationary &Records Department

  Transport Department

Human Resources Division

  Personnel Department

  Test Key Department

  Disciplinary Department

Marketing Division

  Business Development Department

  Branches Department

  Engineering Department

  Public Relations Department

Credit Risk Management Division

  Credit Approval Department

  Credit Admin & Monitoring Department

  Credit Marketing Department

  Credit Recovery Department

Central Accounts Division

  Accounts Department

  Reconciliation Department

International control & Compliance Division

  Audit & Inspection Department

  Monitoring Department

  Compliance Department

International Division

Treasury Division

 General Banking

“Meeting day to day banking”

General Banking Department usually performs a lot of important banking activities. General banking department is that department which is mostly exposed to the maximum number of bank customers. It is the introductory department of the bank to its customers. All business concerns earn a profit through selling either a product or a service. A bank does not produce any tangible product to sell but does offer a variety of financial services to its customers. The Kalabagan branch of UBL has all the required sections of general banking and these sections are run by manpower with high quality banking knowledge. Hence, a touch of rich customer service is prevailing in the branch.

In UBL the following departments are under general banking section:

(a)      Account opening department.

(b)      Local remittance department.

(c)      Cash department.

(d)     Clearing department.

(e)      Collection department.

In the following Chapters brief discussion on the above departments are presented respectively.

(A) Account Opening Department

“Communication with the Client”

The relationship between a banker and his customer begins with the opening of an account by the former in the name of the latter. Initially all the accounts are opened with a deposit of money by the customer and hence these accounts are called deposits accounts. Banker solicits deposits from the members of the public belonging to different walks of life, engaged in numerous economic activities and having different financial status. There is one officer performing various functions in this department.

Functions of the Department

The following are the main functions performed by the department:

 (i)    Accepting of Deposit

(ii)   Opening of Account

(iii) Check Book issue

(iv) Transfer of an Account

(v)      Closing of Account

Accepting of Deposits

Deposits are life-blood of a commercial bank. Without deposits there are no businesses for the commercial banks of any nature (NCBs, PCBs or FCBs). In this branch the various types of accounts are offered to various customers, which are grouped into:

1. Demand deposit account.
2. Time deposit account.

Demand Deposit Account

The amount in accounts are payable on demand so it is called demand deposit account. The following accounts are under demand deposit accounts:

1. Current account.
2. Savings account.
3. Short Notice Term Deposit (STD).

1. Current account:

This type of account is opened by both individuals and business concerns. Frequent transactions (deposits as well as withdrawal) are allowed in this type of account. A current a/c holder can draw checks on his account for any amount for any numbers of times in a day as the balance in his account permits. This account provides no interest. The minimum balance to be maintained is Tk.   2000. No new account can be opened with a check.

2. Savings Account

Individuals for savings purposes open this type of account. Current Interest rate of these accounts is 5.50 % per annum. A minimum balance of Tk. 1000 is required to be maintained in a SB account interest on SB account is calculated and accrued monthly and credited to the account half yearly. Interest calculation is made for each month on the basis of the lowest balance at credit of an account in that month. A depositor can withdraw from his SB account not more than twice a week up to an amount not exceeding 25% of the balance in the account.

3. Special Notice Term Deposit (STD):

The deposits in this account are withdrawal on prior notice varying from 7 to 29 days and 30 days or more. The interest is paid on the balance of the account. Current interest rate is 6.50% per annum.

Opening Procedure

For opening such A/C, application in the prescribed form along with a set of specimen signature duly verified by Bangladesh mission abroad or by a reputable bank of any other person known to the bank, should be obtained by the brandies. A/C with them, reference to that F.C A/C will serve, the purpose of introduction, the branch may verify the signature from the specimen signature and already available with them. Only one such F.C A/C can be maintained   and the balance in the A/ C should not exceed $ 30.000/- or equivalent   pound sterling at any one time.

Time Deposit Account

The amount in this a/c is payable only after stipulated time. The following a/cs are under time deposit a/c:

(a)    Fixed Deposits which are repayable after the expiry of fixed period and are negotiable.

(b)   Bearer Certificate of Deposits (BCD), which are repayable after expiry of fixed

Fixed Deposit Account

These are deposit, which are made with the bank for a fixed period specified in advance. The band need not maintain each reserve against these deposits and therefore, bank gives high rate of interest on such deposits. A FDR is issued to the depositor acknowledging receipt of the sum of money mentioned therein. It also contains the rate of interest and the date on which the deposit will fall due for payment..

Table: Interest rate on deposits

1) Account opening procedure

Current/Saving Deposit Accounts:

1. Savings Accounts:

 1.     An existing Current Account holder of the Bank,

2.      Photocopy of Passport / Chairman/Conditioner Certificates.

3. Two (2) copied of Passport size photograph.

  2.Current Account:     

Proprietorship Firm:

a)      Name of authorized persons, designation, specimen, signature Card.

b)      Trade License.

c)      Passport/ Chairman Certificate.

Partnership Firm:

a)      Account must be opened in the name of the firm

b)      Trade License from city corp. is needed.

c)      Partnership Deed.

Limited Company:

a)      Certificate of incorporatio

b)      Memorandum of Association.

c)      Article of Association.

d)     Power of attorney.

e)      Resolution of the Board of Director s authorizing opening of an account.

2) Classification of customers

It includes the following:

     a)   Individual (personal)

      b)   Proprietorship (Sole traders)

      c)   Partnership firms (Registered or Unregistered)

d)     Joint stock Companies (Private Limited companies/Public ltd.)

      e)  Public Sector Corporations

      f)   Municipalities/Municipal Corporations /Local Bodies etc.

      g)   Clubs/Societies/Associations/Schools/Colleges/ Universities etc.

      h)   Executors/Administrators.

Issue of Cheque Book

A)   Issue of Fresh Check book

Fresh checkbook is issued to the account holder only against requisition on the prescribed requisition slip attached with the checkbook issued earlier, after proper verification of the signature of the account holder personally or to his duly authorized representative against proper acknowledgment.

B. Issue of Duplicate check book

Duplicate checkbook in lieu of lost one should be issued only when an A/C holder personally approaches the Bank with an application Letter of Indemnity in the prescribed Performa agreeing to indemnify the Bank for the lost checkbook. Fresh check Book in lieu of lost one should be issued after verification of the signature of the Account holder from the Specimen signature card and on realization of required Excise duty only with prior approval of manager of the branch.

Account Transfer

The customer submits an application mentioning the name of the branch to which he wants the account to be transferred. His signature cards, advice of new account and all relevant documents are sent to that branch through registered post with acknowledgment the balance standing at credit in customers account is sent to the other branch through Inter Branch Credit Advice (IBCA).

Closing of Account

The following circumstances are usually considered in case of closing an account or justifying the stoppage of the operation of an account:

• Notice given by the customer himself or if the customer is desirous to close the account.
• Death of the customer.
• Customer’s insanity and insolvency.
• If the branch finds that the account is inoperative for a long period.
• If Garnishee Order is issued by the Court of Law on the bank branch.

A customer can close out his A/C at any time by submitting an application to the branch. Upon the request of a customer an account can be closed. After receiving an application from the customer to close an Account, the following procedure is followed by a banker.

 Local Remittance Department

“Banking for Common People”

UBL has its branches spread throughout the country and therefore, it serves as best mediums for remittance of funds from one place to another. This service is available to both customers and non-customers of the bank. The department, which provides the facility, is known as local remittance department.

Functions of the Local Remittance Department

The following are the main functions performed by the credit department:

(a)    Issuing & Payment of Demand Draft.

(b)   Balance of D.D. payable & D.D. Paid with advice

(c)    Payment of Incoming TT.

(d)   Issuance of Local Draft

(e)    Issuing of Outgoing TT.

(f)    Issuance of T.T. ICA. IBCA & IB

Collection of Cheque

• Up to TK. 25,000 @ .15%, Minimum TK. 10.
• Above Tk.25, 000- 1,00,000, @ .15% Minimum Tk.50.
• Above 1,00,000-5,00,000 @ .10%, Minimum Tk.150.
• Above 5,00,000 @ .05%, Minimum Tk.600-Maximum 1,200

Bank Charge For Issuing DD

@ .15% Minimum Tk. 25.

Cancellation of DD

Up to 1000————————-Tk.25.

Above 1000————————Tk.40.

Paymenco

Cacollection of Pay order

Up to Tk. 500————–Tk.10.

Above Tk. 500————-Tk.25.

Rate of Govt. Excise Duty for a financial year( Effective from 01-07-03)

Tk.10,000————————————-Tk.0

Tk.10,000-1,00,000————————–Tk.120.

Tk.1,00,000-10,00,000———————-Tk.250.

Tk.10,00,000-1,000,000———————Tk.550.

Tk.1,000,000-5,000,000———————Tk.2500.

Above Tk.5,000,000————————-Tk.5000.

Remittance of Fund

Any one of the following methods may make remittance of funds from one place to another.

1)      Telegraphic Transfer (T.T)

2)      Demand Draft (D.D)

3)      Pay order (P/O)

1)  Telegraphic Transfer (T.T)

It is an order from the Issuing branch to the Drawee Bank /Branch for payment of a certain sum of money to the beneficiary. Telex/ Telegram sends the payment instruction and funds are paid to the beneficiary through  his account maintained with the Drawee branch or through a pay order if no a/c is maintained with the drawee branch.

a) T.T Issue Process:

1.   Remittance Department will prepare the necessary advice

2.   Debit Advice is sent to the client if client’s a/c is debited for the amount of T.T

3.   Debit ticket is used to debit the client’s account if necessary.

4.   T.T Confirmation Advice is sent to the Drawee Branch.

b) Accounting Entry

• Dr. Cash /client’s A/C
• Cr. UBL General A/C
• Cr. Commission.

c) Payment of T. T’s:

n  On receipt of T.T payment the Drawee branch passes Instructions the following entries if the T.T is found to be correct on verification of Test Number.

      i. Dr. UBL General A/c

                        Cr. Remittance Awaiting Disposal- T.T Payable A/c

      ii. Dr. Remittances Awaiting Disposal -T.T Payable A/c

                   Client’s Account /P.O. A/C.

2) Demand Draft (D.D)

Local Draft is an instrument containing an order of the Issuing branch upon another branch known as Drawee branch, for payment of a certain sum of money to the payee or to his order on demand by the beneficiary presenting the draft itself.

a. Process of Issuing a Demand Draft:

1.   Get the Application form properly filled up and signed by the applicant.

2.   Complete the lower portion of the Application Form meant for Bank’s use.

3.   Calculate the total Taka amount payable including Bank’s commission /charges etc.

b. D.D Issue Register:

The Remittance Department maintains prescribed D.D Issue Register. All the required particulars of all D. Ds issued should be entered in that Register duly authenticated.  Separate folios are opened for each Drawee Branch. While issuing local Drafts of TK.50, 000/- and above, branches shall put a test number in RED INK on the upper portion of the drafts so that the Drawee branch can immediately make payment of the D.D on presentation after getting the Test agreed, if otherwise found in order.

c. Issue of Duplicate Draft :

Duplicate D.D should not normally be issued unless thoroughly satisfactory evidence is produced regarding loss of a draft. If the D.D is reported lost/stolen, a duplicate draft may be issued by the Issuing branch on receipt of a written request from the purchase.

d. Cancellation of Demand Draft (DD):

The following procedure should be followed for cancellation of a D.D:

 1. The purchase should submit a written request for cancellation of the D.D attaching therewith the original D.D.

2.   Manager /Sub -Manager’s prior permission is to be obtained before refunding the amount on cancellation.

3.   The original entries are to be reversed giving proper narration. An IBDA for the cancelled D.D should be issued on the Drawee branch.

4. Cancellation of the D.D should also be recorded in the D.D Issue Register.

e. Payment of D.D:

1.   On receipt of Credit Advice (IBCA) from the Issuing branch the following responding entries are then be passed by the Drawee branch.

1. When a D.D is presented for payment at the paying branch its details are to be carefully examined with references to the following points:

a.   Whether the draft is drawn on their branch.

b.   Whether the draft is crossed or not Amount of a crossed draft is not paid in cash to the payee but to be paid to his account with a bank.

c.   Endorsement on the back of the draft must be regular in case the draft is presented through clearing.

d.   The payee is to be properly identified in case of cash payment

3.   On payment the D.D is affixed with the branches Paid stamp and signatures there on are cancelled with red ink. The date of payment is recorded in the D.D payable   

3) Pay Order

a. Pay Order Issue Process:

For issuing a pay order the client is to submit an Application to the Remittance Department in the prescribed form (in triplicate) properly filled up and duly signed by applicant.

b. Charges:

For issuing each pay Order commission at the rate prescribed by Head Office is realized from the client and credited to Income A/c as usual.

c. Entries:

Dr. Teller’s Cash /Client’s a/c ———————————————————Debit

Cr. pay Order a/c. ———————————————————————- Credit

Cr. commission a/c. ——————————————————————–Credit

d. Refund of Pay Order:

 The following procedure should be followed for refund of pay order by cancellation:

1.   The purchase should submit a written request for refund of pay order by cancellation attaching therewith the original pay order.

                  2. The original entries are to be reversed with proper narrations

                 3. Cancellation of the pay Order should also be recorded in the pay order Issue                Register.

Cash DEPARTMENT

Functions of the Department

The following are the main functions performed by the department:

(a) Shall be responsible for all Cash & Cash Items related matters including record keeping of the information’s received regarding cash remittances

(b) Shall supervise the Cash Remittance under direct guidance of Sub-Manager

(c) Keeping liaison with the Bangladesh Bank, Cash department.

Cash Payment

Cash payment of different instruments is made in the cash section. Procedure of cash payment against cheque is discussed under elaborately. Cash payment of cheque includes few steps:

1)    Then the cash in charge verifies the signature from the signature card and permits the officer in computer to debit the client’s account by giving posting. A posted seal with teller number is given.

2)    Then the cheque is given to the teller person and he after checking everything asks the drawer to give another signature on the back of the cheque.

3)    Cash paid seal is given on the cheque and make entry in the payment register.

Cash Balance calculation

The calculation is done by the officer in charge of cash section and then manager or authorized officer will check the balance and sign in the cash balance book.   The balance is maintained in the balance book. Opening balance of current day is the closing balance of the previous day. Total receive of the current day is added with the opening balance and total payment is deducted for calculating the closing balance or cash balance.

Clearing Department

“Clearing House Operation”

According to the Article 37(2) of Bangladesh Bank Order, 1972,the banks, which are the member of the clearinghouse, are called as Scheduled Banks. The scheduled banks clear the chouse drawn upon one another through the clearinghouse. This is an arrangement by the central bank where everyday the representative of the member banks gathers to clear the chouse. Banks for credit of the proceeds to the customers’ accounts accept Chouse and other similar instruments.

Functions of the Department

The following are the main functions performed by the department:

a)      Pass outward instruments to the Clearing-House.

b)      Pass inward instruments to respective department.

c)      Return instruments incase of dishonor.

Accounting Entries of Clearing Department

The following entries are given if the cheques are honored,

Customer A/C ________________________Debit

UBL General A/C _________________________Credit

UBL General A/C__________________Debit

Customers A/C____________________________Credit

If the instrument is dishonored, the instrument is returned to the concerned branch through I.B.D.A. along with the following entries, Incase of return(For Inward instrument)

UBL General A/C ____________________ Debit

Customers A/C _______________________________Credit.

In case of return(For Outward instrument)

Customer A/C _________________________Debit

UBL General A/C___________________________Credit.

In case of returning an instrument the respective officer usually looks for following reasons,

• Account closed
• Insufficient fund
• Not arranged for
• Drawer’s signature differ
• Not drawn on UBL
• Present through banker

If the check is dishonored due to insufficiency of funds, UBL charges TK. 50/- as penalty.

Bills & Claque Collection

Checks, drafts etc. are drown on bank located outside clearing house are sent for collection. Principal Branch collects its client’s above-mentioned instruments from other branches of UBL and branches other than UBL. In case of out ward bills for collection customers account is credited after finishing the collection processor. And in case of in ward bills customers account is debited for this purpose. So it place dual role as follows:

i)        Collecting Banker

ii)      Paying Banker.

There is one officer working over desk in this department.

Functions of the Department

The following are the main functions performed by the department:

a)      Preparing of Outward and Inward Collection Item.

b)      Inter-Branch Transfer.

c)      Batch posting and checking as and when required.

d)     Other works as and when require.

Applicability of Collection

(i)   Paying Bank is Outside Dhaka City

 Collection department of Principal Branch, UBL sends outward bills for collection (OBC) to the concerned paying bank to get inter Bank Credit Advice (IBCA) from paying Bank. If the paying bank dishonors the instrument, the same is returned to principal Branch.

(ii)The Paying Bank of their Own BranchesInsideDhakaCity

 Collection Department sends transfer delivery item to other branches of same bank situated inside DhakaCity. Upon receiving IBCA customer’s a/c is credited.

Daily Task

The routine daily tasks of the Accounts Department are as follows:

1.Recording the transactions in the cashbook.

2.Recording the transactions in general and subsidiary ledger.

3.Preparing the daily position of the branch comprising of deposit and cash

4.Making payment of all the expenses of the branch.

5.Recording of the vouchers in the Voucher Register.

6.Packing of the correct vouchers according to the debit voucher and the credit voucher.

Periodical Task

 The routine periodical tasks performed by the department are as follows:

1.Preparing the monthly salary statements for the employees.

2.Publishing the basic data of the branch.

3.Preparing the weekly position for the branch which is sent to the Head Office to maintain Cash Reserve Requirement (C.R.R)

4 . Preparing the monthly position for the branch which is sent to the Head Office to maintain Statutory Liquidity Requirement (S.L.R)

 Clients services

No. of clients of the branch are increases. Branch always well concern no. Of clients and their service level. All the people of the branch take their seats before 15 minutes of starting works and not go out with out authority permission or clients presence. Cash received and payment are made very swift for the clients remittance, both local and foreign, bills collection and payment are swift always cautious about customer seating arrangements, good behavior with entertainment to customer, quick issuing of D, D, T.T.P.O., M.T. quick clearing, forwarding, statements prepared for clients.60% of customer has reliability of its services.

 Clients Satisfactions

Branch has achieved significant customer satisfaction through its dedicated services. Customer response regarding different factors of satisfaction is enclosed in appendix-3.

where shows that 56% of the customer like the branch for good quality of services.

Opinion about location, decoration and surroundings of the branch; Branch has rich decoration  (23%), ,surroundings of the branch also  goods(37 %),  customer  somehow satisfied with technology, skilled people, delivery of services (35%) but customer are not feel convenience location.(5%).

Branch charge, commission, interest, other charges are also fair for customer (75%). branch has good reputation in the market (45%), and customer are confident always able on its service reliability   (67%). In response of the answer of question types of service customer choice in this branch it shows that 60%, customer like foreign business services.

In response to the answer of question customer come for banking services it shows that 50% customer come at noon, 58% customer come beginning and end of the months for services. So workload become much at noon, and beginning and end of the month. In res. pones of the answer of question customer problems of the branch it shows that major problem of the branch is no parking facility for customer (70%).  Few customers are not feel convenience location of the branch (25%) .In response to the answer of competitive situation of the branch it shows that branch are always better than competitor in terms of good services, quality of services, bank charges, skilled staff, friendly with customer, but has low competitive advantages in modern technology with some up to date like standard chartered, NCC, one bank and others.

Suggestion from customer for future improvement, new services, credit cards, suitable location, money automation services, ready cash, car parking facility for customers, attractive decoration, quick delivery of services.

Motivation of the Employee

Most of the employees are satisfied with management practices, incentive, bonus, working environment of the branch. But few of them have argument about working loads, working hours of the branch. They have to work late hours with out any overtime, incentive. Some of them have argument about training and human development. They need training to adapt with technology that bank has introduced- new way of writing DD, MT.TT.P.O. And other advice. Some of the employees express opinion about changing of the branch and improving their working environment. Most of employees are committed to work more if the authority implement new pay scale for them. In response of the questionnaire concerned with employee feelings  it shows that 90% of the people feel very good in the branch 30% people dissatisfied with branch location and hygienic environment. 40% people loss their interest due to high work.

Major Problem In General Banking

Problem in general banking arises while issuing and responding different types of D.D, M.T, and P.O.  T.T, SC.LSC, D.D. IBP, D.D.P. due to different between actual amount and written amount in those botchers. This problem most repeated occurs in general banking for misunderstanding of written amount or not consciously read the amount in words in advice. Another problem is while issuing and responding of M.T, T, T, and same message are sending from different branch. These happen due not use the seal of message confirmation by telephone. Then it needs to send several message and much hazards occurs in reconciliation. Another problem occur due to not getting of advice of Mt., T, T, DD from different branch. And making schedule for reconciliation is not possible for head office. Another problem occur in clean cash when so many Boucher may attach with other categories. Most serious problem is that many branch of Uttara bank have not telephone.

Management efficiency of the branch

Management of the branch is very efficient. Discipline is strictly followed in all activities of the branch. Management always followed, banks norms, culture, and ethics. Management immediately implements any circular from head office, Bangladesh banks, and finance ministry that appropriate for them. Any types of new technology. New method of written report, submission of statement immediately implement in the branch. Branch manager always concern his duties and responsibility. Always he observes all the officers works in front of their table. In case of any types of error in the works by an officer he immediately take measure to rectify it. Always concern following of banking guidelines in all banking activities. He always concern about customer satisfactions well as entertainment of the valuable clients. In case of any complain form customer in any banking service he accept it and rectify. Always take suggestion from the clients for their future satisfaction. Manager also conscious about employee satisfaction as well as their claims and argument. And try to give appropriate solution of their problem. He always conscious about building teamwork among them. In case of any employees absence he fill the gaps by other officers so that any official works are not pending. Managers directly observe performance of the officers and report them to the higher authority.

Loans and advance of Uttara branch

Categories of loans offered by the branch

  Agriculture

  Large and medium scale industries

  Export

  Other commercial lending (jute and fertilizer)

  Small and cottage industries

  Consumer Loan

  Personal loan

  Others

a) Housing loans

Classified loans and provision

Performance of loans recovery

 Major findings

  Loans are un-recovered as these are sanctioned against improper documents.

  Loans are given as the order of direct higher authority.

  Loans are not properly utilized, loans was cautioned for one sector but used in other sector.

  Lack of sufficient interest. Financial loss in business of the creditor.

  Loans are given without proper inspection of pledged assets or hypothecation.

  Loans are un-recovered due to value of the collateral assets are not properly assessed.

  Maximum loans are cash credit instead of collateral credit.

Credit management and recovery of classified loans

As classified loans increase provision rate, create adverse effect on investment  .in order to accelerate the investment, reduce inflation and to attain target growth rate the following guideline have to be follow:

   Undertaking step for recovering of all classified money.

  Properly audit creditor financial situation, willingness of repayment of loans money, creditor sources of income property.

 Employing well-qualified advocates for UN recovered loans money collection against powerful and large amount creditor.

Precaution while sanction of new loans:

  Banker must analysis borrower nature of business, experience in business, qualification, and goodwill. Income sources, profit from invested money, ability to repayment of loans money.

  Before submit loans proposal banker must properly examining risk and guaranteed value from loans.

• With a view to properly assessed the proposal of the borrower banker must filled application including borrower cash flow, personal neth worth, description of mortgage assets, assets and liability ratio and submit the proposal to H/O.
• Banker must be insuring that borrower mortgage property is not pledged to other bank.

Sanctions of Loans and subsequent stages:

• All security document and charges document must be properly completed.
• Banker must be ensured utilization of money so that one sources sanctioned loans may not other sources by the borrower.
• The bank must inform any unwillingness of utilization of loans money by the borrower and proper legal action must be taken against him.
• Bank must rewarded and encourage   those borrower who regular repayment of loans and must give preference to him for loan sanction.

Foreign exchange

Foreign Exchange is very lucrative & profitable in modern Banking business. Its recognized as a way of generating maximum profit with low investment. In other Banking like advance needs high capital investment. But foreign exchange required comparatively low investment. In foreign business complexity is high due to rapid change in technology especially for a bank consists of so many branches dispersed in a wide region. The system is easy for a bank to control rich in capital equipped with modern technology concentrated in a small areas. Technology is necessary to prepare quick statement, getting information, preparing reports  .Now technology is a turbulent in foreign exchange business. To survive in the competition a bank has to adapt with this changes. For this it will require skilled manpower, on line banking, 24- hours banking services, high capital investment. Problems arise in foreign exchange for changes in economical, and political business environmental changes of the country. Changes in exchanges rate, change in currency rate, govt. rules and regulations, create problems while dealing in foreign business. So it needs always a conscious mind for successfully dealing in foreign business.

Parties concerned with L/C:

How to open an L/C

For opening an L/C there must be a relationship between banker and customer through opening an account with the bank.

Procedures for opening bank accounts:

1. Before opening accounts clients must submit some paper

a)      in case of company must submit annual financial statement

b)      in case of individual must submit all types of income tax payment certificate.

There are three types of bank account.

A) Savings account b) current account c) STD d) FDR

a)      For opening bank account first have to fill up application form

b)      Then have to use to reference that have existing relation ship with the bank or all ready maintain accounts with the bank.

c)      Two copies resent attest p.p. photograph.

d)     Put three-specimen signature on the signature cards.

e)      Write in details amount of deposits and nominee person address relation with account holders who will hold the account in the absence of clients.

f)       Enclosed memorandum of associations and articles of associations along with form.

1. L/C must be open through current account.
2. Perquisite for opening L/C

Have to take some charge documents from the party

a) Trading licensee b) chamber of commerce certificate c) last fiscal year income tax certificate.

Then the importer have to submit a proposal for opening L/C along with–

  L/C application.

  License no.

  L.c. set

  Insurance covered note.

L/C dealing officer have to properly check the Proforma invoice –description of goods along with its price, quantity, quality, sources of export country, marketability of goods, shipment dates, shipping days, bill of entry. Packing list, certificate of origin, H.S. code no. Brand new.

  Certificate of taxpayers from tax commissioner.

  Trade License from city commissioner.

  Certificate from import and export registration department.

  Money receipt from insurance company to reduce risk export port to import destination.

Nature of L/C

1. Cash L/C (sight)
2. Cash L/C
3. Foreign B/B L/C
4. L/c under AID loans
5. Import from EPZ B/B/L/C) (sight)
6. Import from EPZ 9CASH L/C (SIGHT)

A L/C is most suitable under following conditions

• When the importer is not well known. The exporter selling on credit may wish to have the promise of payment.
• When the importer doesn’t want to pay the exporter until it is reasonable certain that the merchandise has been shipped in good condition.

Importance of L/C

In international trade since the buyer and seller are quite distant from each other a problem often arises to make the delivery of goods and when to make the payment for the delivery. This problem is absent in home trade. But in foreign trade neither the importer nor the exporter can rely completely upon the others. L/C is effective instruments that can solve this problem also act as finance for the buyer. This method is a compromise between buyer and seller because it affords certain advantage to both parties. The exporter is assured of receiving payment from the issuing bank as long as its present documents in accordance with L/C. the issuing bank is obligate to honor drawing under l./c regardless of the ability or willingness to pay. Importer does not have to pay until shipment has been made and the documents presented in good order. However the importer still rely upon the exporter to ship the goods as described in the documents, since the L/C does not guarantee that the goods purchased will be those invoice and shipped. So the usual time under a L/C is when shipment has been made. While the goods are available after payment, the risk to the exporter is very little, depending on credit term, while the risk to the importer is that he has to rely on the exporter to ship goods described in the documents. Because of all the protection and benefits it can accords both exporter and importer.

L/C procedure:

The various steps involved in the operation of credit are described as follows

  The importer and exporter have contract before a L/C has been issued.

  The importer applies for a L/C from his banker known as the issuing bank. He may use his credit lines.

  The issuing bank opens the L/C that is channeled through its overseas correspondent bank, known as advising bank.

  The advising bank informs the exporter of the arrival of the credit.

  Exporter ships the goods to the to the importer or other designed place as stipulated in the L/C.

Parties involved in letter of credit

The applicant:

The applicant is the parties who generally approaches in order to issue the L/C. generally the applicant ids the exporter who reaches an agreement with the exporter before approach in the bank to issue the L/C.

The issuing bank;

 The bank issuing the L/C is known as issuing bank and it is usually the bank with which the importer maintains an account. The issuing bank undertakes an absolute obligation to pay upon presentation of documents.

The advising bank:

The correspondent bank sends the L/C is commonly referred to as advising bank. The advising bank simply advises the L/C without any obligation on its part.

The beneficiary:

The beneficiary or exporter is the party entitled to draw payment under L/C. The Beneficiary will have to present the required documents to avail payment under L/C.

The Confirming bank:

The confirming bank confirms that the issuing bank has issued a letter of credit. The confirming directly obligated on the credit to the extent of its confirmation and by confirming it acquires the right and obligation of an issuer.

The negotiating bank;

The bank that agrees to examine the documents under the L/C and pay t5he beneficiary is called the negotiating bank. Typically, the advising bank is nominated as the negotiating bank.

Back to back L/C

 Back to back L/c is mostly issued in Bangladesh. When a beneficiary receives a letter of credit, which is not transferable, and he cannot furnish the goods himself, he may arrange with his banker to issue a second credit, which is known as back-to-back L/C to supplier to supply the goods.

As both L/C cover the same goods the back to back credit must be issued with identical terms to the muster L/C, except that the credit amount, unit price if any are smaller. The expiry date under the back-to-back credit is earlier while the latest shipment date may have to be advanced. The bank issuing back-to-back credit will obtain repayment through muster credit, which is deposited to the issuing bank of the back-to-back credit. The bank must try to maintain control of the documents and hold them after payment to the supplier pending receipt of its customer’s invoices and present the documents itself for payment under the muster credit in favor of its customer.

Advantage and disadvantage of L/C

Advantages                                    

• An importer can assure that the exporter has complied with certain terms and condition as specified in L/C before payment.
• He can get advice from the banker according to L/C terms.
• He can ask for financial assistance from the banker.

Disadvantages

• Since bank deals with documents only goods may not be the same as those specified in the credit.
• Issuing bank obliged to pay even though the conditions of goods may be poor.
• L/C commission is relatively high.

Advantages for exporter

• The risk for nonpayment is lower as complies provided with l/c.
• It is a safe method through which prompt payment obtain after shipment.
• Exporter can get expertise advice from the banker.
• The exporter can get financial assistance before the buyer makes payment

Disadvantages for exporter

• Sometimes terms and condition cannot fulfill such as unreasonable shipment date adding on L/C the clause of “restriction of a designated vessel to be informed by L/C amendment
• The goods shipped before receiving payment and so it is not 100 percent safe.

Main business of Foreign exchange department

The primary business of foreign exchange department of Barisal branch is to make reimbursements and payments on behalf of the issuing bank. Besides acting as the correspondent bank for reimbursing bank or the payee bank, branch also advice s negotiates, and confirm letter of credits. Acting as the negotiating and confirming Barisal branch earns a commission, which is a percentage of the total L/C amount..

Service offered by foreign exchange department of Uttara branch

Barisal branch offered a wide services for its relation ships other bank and clients both home and aboard. These. Service are related to trade finance, international payment, investment, trading services.

Credit items

• Letter of credit (L/C) negotiation
• Letter of credit (L/C) confirmation.

Non-credit items

• Letter of credit (L/C) advising.
• Reimbursement authorizations.
• Payment instruction.
• Export bills collections.

Foreign remittance

All types of L/C money, student’s fees, and other charges are sending to foreign country through remittance. After negotiation between importer and exporter, getting all documents, payments of goods are made to the exporter bank (advising bank) from U.S.A. Amex bank. But must be arrangement with that bank. After entering the goods in the importer country, getting bills of entry from the custom, exporter send all documents to the issuing bank. Issuing bank then judge the accurateness of these documents and calculate total due with interest, commission, and other charges, deduct amount of margin that was prepaid while opening L/C after preparing dock statement-all the entry transaction is reported to a c-form to Bangladesh bank where total foreign currency record is maintain in commodity wise.

Problems of foreign exchange remittance

• Still many country of the world has not open exchange house like Japan, Korea, Canada , Belgium and others so clients cannot get  promptly remittance.
• Every year many exporter collect cash assistance by showing false documents to Bangladesh bank. As a result much currency are go away of the country that are a major problem for import and foreign currency of the country.
• As still there Is no remittance with many countries taking this opportunities one class of broker are benefited, dollars are going away of the country, the rate of exchange of Tk. are decreases.

Solutions of cash remittance problems

• Adequate measure have been taken for quick remittance , exchange warehouse have to set in each country where Bangladeshi are available.
• Cash remittance may be a profitable sources of foreign income in th absence of others export business.
• Adequate rewards have to be given all those foreign Bangladeshi who send their money through remittance

Suggestion for the management for future improvement

Make cautious to every employees – management have make cautious to every employees that they to work with make out, and opening their eyes and ear so that any mistake can not occur in their works.

Reducing all unnecessary charges– manager has cautious about branch profit so unnecessary charges have to reduce.

Proper utilization of branch resources– Branch has to use all resources, such as capital. Funds, deposit, loans and advances, assets, equipment properly. Manager has to use the work force properly, so that some of the employees cannot spend their time idly while others do works.

Q- cash or ready cash services– in order to tackle competition, and speed up customer branch need to introduce new services, such as ready cash, or q-cash like other private bank- to increase customer satisfaction, and no. Of clients. As customer always interested about new services like ready cash that can reduce their time, cost risk, traffic jam. In ready cash system they can with draw their money from any branch where he intentioned, not need physically present that branch.

Strictly followed of business ethics

Manage have to care about following of business ethics in all the activities-not take any gift from customer- in case of offer tactfully avoid gift.

Not pending of official works– management have to cautious about not pending of works, sending report to the head office accurate time, sending advice’s, TRV to different branch to appropriate time, quickly response to audit report.

Improving working environment-

As the branch has space limitation, seating place, so management have to improve working environment. Branch need separate place for officials and customer saying prayers.

Expanding service range

Branch should expand services range, they should introduce new service that are not copied by the competitor as well as service offered by competitor bank.

Increasing branch  assets

Branch have to emphasis on increasing its own assets, it should buy own building, purchases  more equipment, and other assets  to reduce extra charges.

Making list of non performer of the branch

Some of the employees who idly spend their time or busy other business branch need to make of those non-performer and take immediate action towards them such as suspend, demotion, transfer, fine etc.

Work ethics

Employee of the branch has to be followed work ethic in all-official activities.

Client satisfaction

Management should always works for their client satisfaction .they should listen customer complaint and take remedies to solve these. They should take all necessary arrangement for customer satisfaction through improvement of branch environment , location, security, parking facility new service etc.

Customer retention

Management have to take steps to retain customer. They should build a strong relationship with their existing customer so that they cannot swift away to competitor bank. Because retention is six time important than attention of new customer.

Expanding investment base

Branch should expand investment base, they should not depend only on limited sector of investment, they should invest all profitable sector to increase their profit and maintain growth level.

Reducing bank charges where necessary

Branch should reduce charges for price sensitive customer especially who transaction high volume of business.

Being more marketing oriented

Branch has to take more marketing oriented for success in future. The should take strategic marketing plan to increase their profit and growth.

SERVICES OF UTTARA BANK

 Deposit Schemes

Non-Resident Foreign Currency Deposit Account (NFCD)

• All Non-Resident Bangladesh nationals and persons of Bangladesh Origin include those having soul nationality ordinary resident abroad may open this account with AD branch of Uttara Bank Ltd.

• The NFCD account may be opened in single/joint name for a period of 1, 3, 6, 12 months.

• This account may be maintained as long as account holder describes.

• Initial deposit US$1000 or GBP 500sterling or equivalent currency.

• The account offers attractive interest. Payable in foreign and tax-free.

Foreign Currency Account

A) Foreign Currency Account for private individual/firm/organization.

• Any person/firm/organization who earns foreign currency can open Foreign Currency Account with UBL.

• Payments in foreign currency may be made freely abroad from this account and local payment in Taka may also from this account.

• Bank pay interest provided the accounts are maintained in the form of term deposit for minimum period of 90 days.

Requirements for opening of the account

• Account opening form as per format below. The account opening form and signature card to be filled in and duly signed.
• Two copies passport size photographs of the account holder duly attested by remitter’s Banks/Embassies.
• Photocopies of the first 7 pages of the passport duly attested by the remitters bank/exchange companies having drawing arrangement with UBL or by Bangladesh Mission abroad.

B) Foreign Currency Account for Bangladesh Nationals Working and earning abroad.

• No initial deposit is required

• A/c holder may nominate his nominee to operate the account.

• The account holder can freely transfer entire amount in foreign currency anywhere he choose or can convert into Bangladesh Taka currency.

Requirement for opening of the account:

• Account opening form as per format below. The account opening form and signature card to be filled in and duly signed.

• Two copies passport size photographs of the account holder.

• Copies of employer’s certificate/work permit.
• One copy of the passport size photograph of the nominee if any to be attested by the account holder.

C) Resident Foreign Currency Deposit Account (RFCD):

• Person’s ordinary resident in Bangladesh may open and maintain RFCD Account with foreign exchange brought in at the time of his return from travel abroad.

• Balance in this account can be freely transferred abroad.

• Funds from this account may also be issued to the account holder for the purpose of his foreign travels in the usual manner.

Interest in foreign currency is paid in this account if the deposits are for a term of not less than one month and the balance is not less than US$1000 or GDP 500 or its equivalent.

Requirements for opening of the account

• Account opening form as per format below. The account opening form and signature card to be filled in and duly signed.

• Two copies of passport size photograph of the account holder.

• Photocopies of the passport and the relevant pages showing evidences of traveling abroad.

 Savings Account:

• Any Bangladeshi National residing home or abroad may open savings account with UBL.

• This account may be opened in single/ joint name.

• The account holder may nominate his nominee in this account.

• The nominee can get the balance amount without submitting succession certificate after the death of account holder.

Requirement for opening of the Account

• Account opening form as per format below. The account opening form and signature card to be filled in and duly signed.

• Two copies passport size photographs of the account holder.

• Photograph of the nominee (if any) duly attested by the account holder.

• Photocopy of the 1^st 7 pages of the passport for non-resident Bangladeshi national.

Signature in the account opening form/card must be same with the signature of the passport.

Requirement of FDR Account:

• Any Bangladeshi national residing home or abroad may open FDR with UBL.

• FDR may be opened single/joint name for a period of 3, 6, 12, 24 and 36 months.

• UBL offers attractive/Competitive rate of interest in FDR.

 STD Account:

• Government, Semi-Government, Autonomous organization and an individual may open STD Account with UBL.

• UBL offers attractive/competitive rate of interest in STD Account.

Loan/Advance Schemes

 Consumers Credit Scheme:

UBL started Uttara consumer Credit Scheme From 1996.

UBL offers opportunity of financial assistance for:

• Motor cycle/car- new or reconditioned.
• Refrigerator/Deep Freeze
• Cellular Telephone.
• Fax, Photocopier.
• Electric Fan
• Bi-cycle
• Dish Antenna
• Baby Taxi, Tempo/Microbus etc

 Personal Loan Scheme

UBL started personal loan scheme for salaried officials of reputed organization from 1999 to meet-

• Dependents
• Emergency expenses of urgent surgical operation/medical treatment.
• Emergency educational expenses of the children for admission/purchase of books, examination fees etc.

Special Features

• Any permanent salaried employee aged between 20-55 years is eligible to get loan.
• No collateral security is required.
• Maximum amount of loan Tk. 1,00,000/-
• Maximum period of loan up to 3 years.

International Banking:

UBL is equipped with all modern technology & provides following international banking services.

• Play vital role in Import-export and other foreign currency of the country through more than 600 foreign correspondents worldwide.
• Renders fastest service to the exporter and importer through the SWIFT service.
• Offers competitive price for importers and exporters.

Treasury and dealing room

UBL has got its independent treasury and dealing room equipped with Reuters Dealings System and provides.

• Effective service to the client.

• Daily exchange rate buying selling.

• Forward cover at competitive price.
• Deals in foreign currency with Central Bank, Commercial Bank and other potential clients.

• Buying and selling third currency with all leading Banks worldwide.

 Lease Financing:

UBL started lease financing since September 1999.

UBL offers opportunity of financial assistance for:

• Capital Machinery.

• Heavy Construction Equipments.

• Lift

• Air-Conditione

• Vehicles.

• Medical Equipments

• Consumers Durables.

Special Features

• UBL provides 100% fund for purchasing equipment / machinery usually BMRE purpose.
• No down payment is required.
• Tax benefit.
• Financial Assistance without flowing own fund.
• Off Balance sheet Financing.

Chapter 8

CONCLUSION

Topic to be covered

CONCLUSION

Uttara Bank Ltd is the largest non-government organization through out or this region. It is working mass people about aquaculture, social welfare and income generation of this region.

Leadership style process accomplished half of its organizational activities. Employees are the lifeblood of organization and leadership style are the way to motivate and maintain that.

Work mood is associated leadership style in many senses. An appropriate leadership style can bring the job satisfaction among employees.

Uttara Bank Ltd, Said pur Branch,  is such non-government organization is highly concerned with those factors of Leadership style. They apply an effect ion style to implement the organizational objectives. From apply an effective style to seen that effective Leadership style bring a great and fruitful success of the organizations.

Bibliography

• Annual Report of Uttara Bank Limited, 2009

• Annual Report of Uttara Bank Limited, 2010

• Brochure of Uttara Bank Limited.

• Web-www.uttarabank-bd.com.bd.

• Bank management, Fith Edition, George H. Hemple, Donald G. Simonson.

• Business Communication, Sixth Edition, Raymond v. Lesiker Jhon D. Pettit,

• Commercial Banking –Fourth Edition, by Edward W Reed / Edward K. Gill.

• Financial Institutions Management, A Modern Perspective Anthony Saunders.

• Marketing Management, Third Edition by Kotler & Armstrong.

• Advertising & Promotion, Sixth Edition By Belch & Belch.