General Banking of Basic Bank Limited

General Banking of Basic Bank Limited

General Banking of Basic Bank Limited

Financial institutions of a country play an important role in building the financial backbone of the country’s economy. BASIC BANK Ltd is one of the leading specialized Banks in Bangladesh. BASIC BANK Ltd maintain the highest ethical standards and community responsibility worthy of leading corporate citizen and now searching for continuous improvement in productivity, operational efficiency and thereby enhancing local customer value. Though BASIC Bank Limited is a government owned bank, it is free from most of the problems which other government banks are occupied with. In most of the government bank we have seen that, the head office is not contributing more for the supervision of the branch activities. But in BASIC a handful number of top officers have been engaged to monitor day to day operation, which are reducing the number of errors.

HISTORICAL Background:

The BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited) establishes as a banking company under the companies Act 1913 launched its operation in 1989. It was incorporated under the Act on the 2nd of August, 1988.The Bank started its operation from the 21st of January, 1989 .It is governed by the Banking Companies Act 1913.The Bank was established as the policy makers of the country felt the urgency for a bank in the private sector for financing Small Scale Industries (SSIs). At the outset, the Bank started as a joint venture enterprise of the BCC Foundation with 70 percent shares and the Government of Bangladesh (GOB) with the remaining 30 percent shares. The BCCI, the Government of Bangladesh took over 100 percent ownership of BASIC on 4th June 1992.Thus there is state-owned. However, the Bank is not nationalized; it operates like a private bank as before. Basic Bank is unique in its objectives. It is blend of development and commercial banks. The Memorandum and Articles of Association of the Bank stipulate that that 50 percent of loan able funds shall be invested in small and cottage industries sector.

Steady growth in client base and their high retention rate since Bank’s inceptions testify to the immense confidence they repose on its services. Diversified products both liability and assets sides particularly a wide range of lending products related to development of small industries and micro enterprises, and commercial and training activities attract entrepreneurs from varied economic fields. Along with promotion of products special importance is given to individual clients through providing personalized services. In fact individuals matter in this Bank. This motto has been followed for development of clientele as well as human resources of the Bank.

Coping with the competitive and rapidly changing financial market of the country, BASIC Bank Limited maintains close connection with its clients, the regulatory, the shareholders (Government of Bangladesh), other banks and financial institutions.


In year 2010 was a fairly good year for the Bank in the face of severe competition in the Banking industries and changing global and national economic scenario. The Board of Directors was happy with the overall performance of the Bank, particularly for maintaining quality of assets and improving shareholders position, stability and capital position. But in 2014 a scandal came out against BASIC bank around Tk. 4500 crores loan scam. The Chairman acted with dishonesty.

He approved the loan to loan seekers ignoring the alert of bank officials & cautions against such loans by the central bank.


BASIC Bank is a well prepared to and capable of meeting the demand for a broad range of banking services .It has got adequate resources, both human and physical, to provide the customers with the best possible services.


A great deal of investment for developing the physical resource base of the Bank has been made. BASIC has its presence in all the major industrial and commercial hubs of Bangladesh in order to cater to the needs of industry and trade. At present, there are sixty eight conveniently located branches in all over Bangladesh.


  • Global banking has changed rapidly and BASIC as worked hard to adapt to these changes.
  • The bank’s main manifest during force for the banks progress as an institution par excellence to customer satisfaction.
  • Fully computerized accounts maintenance.
  • Well decorated and air conditioned facilities.
  • To pay a vital role in human development and employment generation.
  • A fully operational computer network which is currently being implemented .The work of Local Area Network (LAN) and Wide Area Network (WAN) installation having reliable and secured communication between the branches and the Head Office is in progress to facilitate Any Branch Banking and ATM Services.
  • Money counting & Money checking machine making cash transactions easy, security and prompt.
  • The bank look forward with excitement and a commitment to bring greater benefits to customers.
  • Eighteen out of twenty seven branches are authorized dealers of foreign exchange. This facilities speedy disposal of transaction of export and import trades.
  • A group of professional bankers to render personalized services.
  • BASIC dedicated their service to the nation through active financial participation in all segments of economy, small Industries, trade, commerce and service sector etc.
  • BASIC keeping pace with the changing environment.
  • Deep commitment to the society and the growth of national economy.


Human Resources:

BASIC bank has a well-diversified pool of human resources, which is composed of people with high academic background. Also, there is a positive demographic characteristic –most  employees are comparatively young in age yet mature in experience .As of 31st December 2012 the total number of employees is 1657.


Intensive training program, on a regular basis, is being imparted to employees of all levels to meet the challenges in the banking industry and to help employees to adapt the changes and new working conditions. Bank believes that human resource is the main driving force and quality human resources are the key sources for the success in today’s banking business.

Keeping this view in mind and recognizing the importance of training for professional excellence, BASIC Bank established its own training cell in 2005 with modern facilities. In 2011 the cell arranged 29 training courses and provided training to as many as 608 employees of the bank. Bank also sends its employees to BIBM and other local and foreign institutions with a view to enhancing and sharpening their knowledge base. During the year 2011 a total of 114 employees of the Bank were also provided with training in various fields in BIBM and other institutions. BASIC Bank established its own training institute in 2012 with all modern facilities.

In 2012, they arranged 20 training courses and provided training to as many as 498 employees of the bank. The Bank also sends its employees to BIBM and other local and foreign institutions with a view to enhancing and sharpening their knowledge base. During the year 2012, a total of 191 employees of the Bank were provided with training in various fields at BIBM, BBTA and other training institutions. Moreover, 5 officials were provided with overseas training programs in 3 different programs.


The Bank follows strict recruitment policy in order to ensure that only the best people are recruited. The Bank, so far, has recruited four batches of entry-level management staff, all of who has excellent academic background.


General Banking is the most important and common part of any bank. Cause majority transaction is held in this section. This section has four (4) parts as follows:


Cash section demonstrates liquidity strength of a bank. It also sensitive as it deals with liquid money. Maximum concentration is given while working on this section. As far as safety is concerned special precaution is also taken. Tense situation prevails if there is any imbalance in the case account.

Cash Section:

The function of this unit is to receive and payment of cash. The vault limit cash limit of the branch is TK.2 crores approximately or even more. The head teller is allowed to encash chequeto the clients up to TK.100000 with her own signature. If additional cash is required then the second man of the branch makes arrangement on request. There are one chief officer, one senior officer, and two Banking officers in this department.

Operation of this section begins at the banking hour. Cash officer begins her/his transaction with taking money from the vault, known as the opening cash balance. Vault is kept in a very secured room. Keys to the room are kept under control of cash officer and branch in charge.

The amount of opening cash balance is entered into registered. After whole days’ transaction, the surplus money remains in the cash counter is put back in the vault and known as the closing balance. Money is received and paid in this section.


  • At first the depositor fill up the Deposit in the Slip. For saving account and current account different colour Deposit Slip is used in this Branch.
  • After filling the required deposit inslip, depositor deposits the money.
  • Officers at the cash counter receives the money, count it, enter the amount of money in the register kept at the counter, seal the deposit in slip and sign on it with date and keep the bank’s part of the slip. Other part is given to the depositor.
  • All deposit slip of saving; Current and STD A/C are maintained in accounts section.

Cash Payment:

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

First of the entire client comes to the counter with the cheque and give it to the officer in charge there. The officer checks whether there are two signatures on the back of the cheque and checks his balance in the computer. After that the officer will give it to the cash in charge.

  • 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.
  • If the signature matches with the one given previously then the teller will make payment keeping the paying cheque with him while writing the denomination on the back of the cheque.
  • Cash paid seal is given on the cheque and make entry in the payment register. There are few things that shall be scrutinized and checked before making payments.
  • Name of the drawer.
  • Account number.
  • Specimen signature.
  • The validity of the cheque and make it sure that it is not post dated or undated.
  • The amount in words and figures are same.


The officer in charge of cash section does the calculation and then Sub-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.



Cash packing and handling needs a lot of care as any mistake may lead to disaster. Packing after banking hour when the counter is closed, cash are packed according to denomination. Notes are counted several times and packed in bundle, stetted and stumped with initial.


In a bank a person who delivers and receives cash from the cash counter is known as teller, a customer meets most of the time in a bank with a teller on the counter. So teller should hold certain quality.

  • Should be friendly.
  • Provide prompt service.
  • Be accurate in his task.
  • Be carefully.
  • To have endless patience.
  • Be smart.
  • In short, a teller should be efficient otherwise he has to pay.

Types of Account:

Keeping an eye on the needs of the customers and to ensure their full satisfaction BASIC Bank has a full range of deposit products.

There are mainly five types of Accounts are as follows: –

  1. Savings Deposit (SB)
  2. Current Deposit (CD)
  3. Short Notice Term Deposit (STD)
  4. Fixed Term Deposit (FTD)
  • Savings Bank Deposit account may be opened in the name of adult individual or jointly in the names of two or more persons payable either or both or all them or to the survivor with total satisfaction of Bank.
  • These are interest bearing deposit accounts. (Present interest rate is approximately 7.00% in BASIC Bank Ltd. It fluctuates depending on amount.)
  • Savings Bank Account shall not be allowed to be overdrawn.
  • Saving Bank Account must not be allowed to be conducted as Current Account.
  • The drawings are restricted in respect of both the amount of withdrawal and the frequency thereof so that the payment of interest does not become non-compensating for the banker.
  • No interest will be paid in a Savings Bank Account for the month in which withdrawals have been made more than twice a week or over 25% of the balance of his/her accounts without notice. For withdrawal of sum exceeding 25% of the balance, 7 days notice in writing should be given to the bank.
  • Interest shall be calculated on the minimum balance at the credit of an account between the close of the 5th day and the last day of the month.
  • Interest will be applied half yearly on 30th June & 31st December at the prescribed rates as advised by Head Office
  • These accounts intended for individual savings and are not suitable for business concerns that require frequent withdrawals.
  • Bank may however refuse without assigning any reasons to open savings account by anybody.
  • The Bank reserves the right to close any Savings Bank Deposit account with prior notice.


  • A Current Deposit Account may be opened in the name of person(s) having contractual capacities. Any individuals, firm, company, club, association, and corporate body may open a Current Account.
  • Drawings are allowed on demand from such an account without any restriction within the funds available in its credits.
  • No interest is payable on the balance of current accounts.
  • Bank may however refuse without assigning any reasons to open current account by anybody.
  • The Bank reserves the right to close any current account with prior notice.
  • Short Term Deposit Account (STD) are opened usually by Corporations, Banks and Financial Institutes etc.
  • These deposits are withdrawn able on 7 days’ notice by the account holder(s). Withdrawal is allowed after the expiry of notice period.
  • Interest on such deposits are payable at the rate determined by Head Office from time to time. (Present interest rate on STD A/C is 5.50% in BASIC Bank Ltd.)
  • Interest shall be calculated on daily product basis and applied half yearly at end of June and December or when an account is closed.
  1. Fixed TERM Deposits (FTD):
  • Fixed Deposits may be opened by one adult individual singly or by more than one adult individual jointly or by any Government/Private /Autonomous or other organization.
  • These deposits shall be opened for a fixed period ranging from three months to two years.
  • Interest on FDR shall be payable only after maturity of the FDR along with the principal.
  • Following rate of interest on FDR is prevailing in BASIC Bank Limited.



An executor is a person appointed by a testator for execution of the last will leave by him. Upon production of probate of the will the executor should be allowed to close the deceased’s account and deal with the credit balance as per terms and conditions of the will, affecting the account.

In case of credit balance of the deceased’s account, it is preferable for the banker that the executor opens the required account as an executorships account instead of an account in the personal name of the executor.

If there is more than one executor the account should desirably be opened under the joint signatures of all the executors through they have powers individually and a definite arrangement made whether operations on the account will be done by one executor singly or jointly by all, by two or more of them.

Where there is a debit balance in the account arrangement should be made with the executor for adjustment there of as soon as the executor is able to realize sufficient of the deceased ‘s assets.

The banker should not allow any transfer of the deceased’s assets. The banker should not allow any transfer of the deceased’s funds to the personal account of the executor nor should he allow the executor to raise any personal loan against security of the deceased’s property.

Otherwise, he will be held liable for the misuse.

The executor is the legal representative of the testator for all purposes and all property of the deceased vest in him. The executor has power to sue and recover debts as the deceased had when living as well as to dispose of property and incur expenses as he may think fit and necessary for administration of the estate subject to restrictions, if any, as laid down in the will and the probate.

On the death of the executor his duties devolve on his executor and where there is more than one executor the deceased’s power vests in his survivor co-executor unless otherwise provided for in the will. An executor cannot normally delegate his power except to one of them where there is more than one.

Required Paper for an executorships account: –

  • Two copies of passport size photograph of the executor / person(s) who will operate the Account duly attested by appointed by the testator for execution of the last will leave by him.
  • Will deed executed by a testator for execution of the last will leave by him in the front of 02 male or 01 male & 02 female to operate the account.
  • Will probate accepted by Court.
  • Power of Attorney executed by a testator for execution of the last will leave by him favoring the executor in the front of 02 male or 01 male & 02 female to operate the account.
  • Passport/NID/ Introductory Certificate from Employer /Introductory Certificate from renowned person of the society acceptable to Bank/Financial Institutions.
  • TIN Number (If applicable).

CAUTIONS: Same as Joint/Individual Account.

The banker should not allow any transfer of the deceased’s assets. The banker should not allow any transfer of the deceased’s funds to the personal account of the executor nor he should allow the executor to raise any personal loan against security of the deceased’s property.

Otherwise, he will be held liable for the misuse.

Papers /Documents required for opening of



An administrator is appointed under the authority of a court of competent jurisdiction where the deceased appointing an executor leaves no will. The administrator has substantially the same duties and powers as those of the executor; they differ mainly in the manner of their appointment. While the executor derives his authority from the will immediately after the testator’s death, the administrator derives his authority from the letters of administration, which he produces to the banker for inspection as an executor produces probate of the will for the purpose of a bank account. The administrator is also the legal representative of the deceased with powers to sue, recover debts and incur expenses. But he may not mortgage, charge or transfer any property without prior permission of the court granting the letters of administration. On the death of an administrator the surviving administrator, if any, acts, but on the death of the last administrator fresh letter of administrator is necessary.

Club/ Society/School/College etc:

  • Two copies of passport size photograph of the Account holder(s) or person(s) who will operate the Account duly attested by the introducer.
  • Memorandum & Articles of Association duly certified by the Chairman/Secretary.
  • Bye Laws & Regulation/ constitution duly certified by the Chairman or Secretary.
  • In case of cooperative society Bye Laws & Regulation/ constitution.
  • Duly certified by Cooperative Officer.
  • Resolution of Management Committee/ Executive Committee for opening & operation of the Account.
  • Up to date list of Office Bearers/ Governing Body/ Managing Committee duly certified by the Chairman/ Secretary.
  • Government approval in case of registered Club/society.

CAUTIONS: Same as Joint/Individual Account.

Papers /Documents required for opening of NGO, JOINT VENTURE, & AIRLINES Accounts:


  • Two copies of passport size photograph of the Account holder(s) / person(s) who will operate the Account duly attested by the introducer.
  • Certified copy of Bye Laws & Regulation/ constitution duly certified by the Chairman/ Secretary.
  • Certified copy of Resolution of Management Committee/ Executive Committee for opening & operation of the Account.
  • Up to date list of Office Bearers/ Governing Body/ Managing Committee duly certified by the Chairman/ Secretary.
  • Permission from NGO Bureau.
  • Permission from Head Office. (Circular no. BASIC/HO/Gen/2000/14, Dated 18-10-2000)

CAUTIONS: Same as Joint/Individual Account.

Join Venture Company (Bangladeshi + Foreigner):

  • Two copies of passport size photograph of the Account holder(s) or person(s) who will operate the Account duly attested by the introducer.
  • Copies of passports of A/C operators (1st 6 pages + visa pages for foreigners).
  • List of Directors
  • Resolution of the Board of directors for opening & operation of the
  • Account
  • Permission from Board of Investment.
  • Joint Venture agreement attested by Notary public
  • Certified copies of the Memorandum and Articles of Association
  • Certified copies of incorporation.
  • CAUTIONS: Same as Joint/Individual Account.



Before introduction of the present concept of Clearing House, the representatives of the banks had to collect the proceeds of the instruments in Cash from the drawee banks, which involve risk, time and money. Mr. Arbin first thought about Clearing House to solve those problems and on the basis of his revolutionary thought Banks’ Clearing House was initially established in 1775 in London as “London Clearing”.


Clearing House is mechanisms for expeditious settlement of inter bank claims arising out of their constituent’s negotiable instruments in presence of representatives of all member banks. In Bangladesh, Clearing arrangements exist in the office of the Bangladesh Bank, at other places in the office of Sonali Bank where Bangladesh Bank has no Office.


  1. Inter-Branch Clearing, and
  2. Inter-Bank Clearing.

Under the system of Inter-Branch Clearing, inter-branch claims of a particular bank within the City or town area are settled through their Main Office or Local Office.

But under the system of Inter Bank Clearing, the claims among the members of the clearing house of different Banks within the area of clearing house are settled under the direct supervision and control of Bangladesh Bank and each member bank of the Clearing House has to maintain their account with Bangladesh Bank.


Clearing House is essential for adjustment of a developed Banking System. It makes easy settlement of inter-bank claims and it saves huge cash transactions and consequent danger of loss in transit and the necessity of holding by every bank of a huge cash balances for the purpose. The Clearing House is of incalculable benefit as a time, labor, risk and currency saver.


  • Operational procedure at Branch Level,
  • Internal or Inter-Branch Clearing procedure, and
  • Main Clearing House or Inter-Bank procedure.


  1. Outward Clearing,
  2. Inward Clearing.


Under this system negotiable instruments drawn on other banks are presented in the respective bank through Clearing House for receiving payment and after receiving the proceeds of the cheque / instruments the accounts of the respective clients are credited.


Under this system negotiable instruments of different banks presented in the Clearing House are received by the representative of the respective bank and bring the instruments of their branches for making payment.

Procedural activities of Outward Clearing System:

Outward Clearing System includes the following activities:

  • Scrutinizing the correctness of the instruments that received for clearing.
  • Affixing the branch crossing seal on the face of the instrument.
  • Affixing branch clearing seal on the deposit slips and on the face of the instruments.
  • Making necessary endorsement on the back of the instruments.
  • Encoding the necessary information of the instruments in the diskette.

Precautionary Measures:

While making payment of the instruments received the clearing House the following precautionary measures should be taken:

  • If the crossing seal of the collecting bank on the face of the instrument is not affixed the instrument should not be honored.
  • If the clearing seal with present date is not affixed on the face of the instrument, the instrument should be returned unpaid.
  • Date on the face of the instrument must be checked carefully. If the cheque is post-dated or anti-dated the cheque should be returned unpaid.
  • If the cheque does not bear the signature of the drawer on the face of the cheque, the cheque must be returned.
  • If the drawer’s signature of the cheque differs with the Specimen Signature Card, the cheque should not be honored.
  • If the amount in word differs with figures the instrument should not be honored.
  • If the instrument does not bear the endorsement on the back the instrument, the instrument should be returned.
  • If the drawer stops the instrument, the instrument should be returned unpaid.
  • If the instrument is mutilated and the collecting bank does not confirm the same, the instrument should be returned.
  • If the alteration in date / figure / words is not confirmed by the drawer the instrument should not be honored.
  • If the collecting bank’s discharge is irregular, the instrument should be dishonored.


The Bank’s strength and competitive capabilities can be shown by the SWOT analysis. The SWOT analysis is grounded in the basic principle that strategy-making efforts must aim at producing a good fit between a company’s resource capability and its external situation. The SWOT analysis of BASIC Bank Limited is as follows:

S- Strengths

(i) Reputation of the Bank: Since the inauguration the bank has managed their activity with their own images to serve their customers. They have provided services successfully and have achieved goodwill among the Banks. The Bank is opening with its efficiency and integrity.

(ii) Sponsor: BASIC bank has sponsors from various sectors of Bangladesh. The most successful entrepreneurs from various sectors started this company. As a result there was a combination of different thoughts and skills in the management of the bank, which is very much essential for success in today’s competitive market.

(iii) Top Management: BASIC bank has a very competent and experienced top Management. The current Managing Director Mr. Mozammel Haque has banking experience for a long time period. He had the experience of marketing and customer relationship management in his long career. This has helped the bank to achieve its goal.

(iv) Shariah Based Banking: BASIC Bank is operating based on Islamic Shariah. As Bangladesh is a Muslim country, the Shariah banking has been able to attract customers and achieved a great success in the private banking sector.

(v) Branches: BASIC bank is operating their business all over the country with 30 branches and still planning to expand their business by opening new branches in the country. It has strengthened the distribution of the bank’s services.

(vi) Government Bank: The 100% Share of BASIC Bank is Government. So it is a very Good Strength for any Company.

W- Weaknesses:

(i) Promotion: The bank does not any formal promotional activity. They do not give any sort of advertisement or do not have any marketing activity. They do not even too many billboards. This is why they are far behind the competitive in the private banking. Even some people do not know that BASIC Bank is operated according to Shariah.

(ii) Remuneration: The remuneration of the officers of BASIC bank is lower compared to other private banks. Even the internship students are paid nothing. This is why high skilled human resources are discouraged to join here.

(iii) Online Banking: At Present Every bank try to converted them to the Online banking. BASIC bank has no Online Banking System. So it is a great weakness for the Bank. I hope that BASIC Bank also introduce the Online banking System & serve his Client very Smoothly

(iv) Centralization Decision Making: The decision making of the bank is too many centralized. No decision is made without the authorization of the head office. Sometime some quick decision is needed to be taken, but from the branch, no one can make decision. It is one of the major draws back of the bank.

(v) Lacings of some officer: Some of the officer of the BASIC Bank LTD are not sincere their work. They do not come regularly; if they come they do not work properly. They just talk & pass the time. Some of the officers are not suitable for his position.

O- Opportunities

(i) Consumer Banking: BASIC bank is operating corporate banking. In our country there is a huge opportunity of consumer banking. So BASIC bank can reposition their branding and introduce consumer banking with corporate banking.

(ii) ATM: The banking sector of the country is becoming modernized in the country. People like to draw money anytime from anywhere. So ATM card is getting popularized in the country. BASIC bank can introduce ATM system in their bank. More Over, Shariah Based banks are not providing ATM cards. So those who want ATM card but do not like interest, they can be attracted by ATM card issued by a Shariah Based Bank.

(iii) More Branches: The economy of the country is expanding. The business outside Dhaka is also expanding. As a result, the demand for banking service is increasing day by day. So BASIC bank can open more banks in the country and can expand their business.

(iv) Shariah Based Banking: In our country people are religious. Most of the people are Muslim. They are becoming educated and know the bad impact of interest. So they are moving towards Shariah based banking. BASIC bank takes this opportunity.

(v) Government Bank: BASICBank is Govt. Bank. So it has a great opportunity to expand itself.

T- Threats

(i) Competitions: In Bangladesh, after economic reform, more private bank has started their operation in the country. They are coming with different types of attracting products. This has increased the completion among the private banks.

(ii) Devaluation of local Currency: The value of local currency is decreasing. So investment in local banking is decreasing. More over the inflation is increasing in the country. So people want to save money but in many cases they cannot. As a result, the banks are getting less deposit.

(iii) Bank Default: There is a tendency of the people of the country to become bankrupt. Few years ago Sonali &Oriental bank has a great suffering. In our country, the receivable from top 20 bankrupt companies stood 88.36 billion. This is discouraging banks to make new investment.


Basic Bank is one of the top class banks in our country. When I was placed at Agrabad Branch I didn’t have serious problems regarding the operation, customer service, management, human resource department or anything else.

In spite of this I found few problems as follows:

  • The time to reach Permanent Position from probation period takes almost two years, which is a very long time process as I considered and it should be less than two year.
  • Some Officers of the bank are not self-motivated. They should be self-motivated by training.
  • Basic Bank has only 68 branches, which are not so satisfactory to serve the country widely. It requires more branches throughout the country.
  • DD, TT takes more time to operate. It should minimize time.
  • We require some valuable information for the purpose of making Internship report but these kinds of information is not available. We strongly suggest helping us in this matter.


The BASIC Bank Limited has been trying to operate its business successfully in Bangladesh since 1994. Basic Bank has already developed goodwill among its clientele by offering its excellent services through General banking, Credit division and Foreign Exchange divisions. This success has resulted from the dedication, commitment and dynamic leadership among its management over the periods. The working atmosphere of the BASIC Bank Limited is very simulating. During the short span of time of its operation, the bank has been successfully to the position itself as a progressive and dynamic financial institution in the country due to the following reasons:

Although there was huge loss in the establishment period of the bank due to huge sunk cost and operating cost, from the second year the bank was gradually able to reduce cost proportionately through an effective management.

Interest expanses of the bank are reducing proportionately compared to interest income due to huge accumulation deposits as a result of increasing number of depositors. The number of depositors and the amount of deposits lie in the upward trend due to offering attractive services to the customers.

Other income of the bank is also going up every year due to the increase of commission, exchange and brokerage fees in the foreign exchange section. Foreign exchange of the bank is operating effectively.

Operating expenses of the bank increasing every year compared to the growth in deposits. All this together with its adoption of modern trend of Banking system has enable it to turn out as potential profiteering financial Institution. My course of internship in this Bank has been very valuable.