Executive Summery
Export Import Bank of Bangladesh Limited is a public listed scheduled bank categorized in private sector and established under the ambit of Bank Companies Act, 1991 and incorporated as a public limited company under the Companies Act, 1994 on June 02. The Bank started commercial banking operations effective from August 03, 1999. The Bank converted its Banking Operations into Islamic Banking based on Islamic Shariah from traditional banking operation in July 01, 2004 after obtaining approval from Bangladesh Bank.
Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of the state of satisfaction will vary from person to person and product or service to product or service. The state of satisfaction depends on a number of both psychological and physical variables which correlate with satisfaction behaviors such as return and recommend rate. The level of satisfaction can also vary depending on other options the customer may have and other products against which the customer can compare the organization’s products.
The major objectives of my report are comparison on overall level of customer’s satisfaction between Exim Bank and Standard Chartered Bank, bank selection criteria, measurement the employee behavior and performance, determine the wide range of services, and evaluate the banking performances of these two banks.
To do this report I have collected all the data and information through primary and secondary sources. Face to face conversation with the customers and respective officers. The usual measures of customer satisfaction involve a survey with a set of statements using a Likert Technique or scale. The customer is asked to evaluate each statement and in term of their perception and expectation of performance of the organization being measured.
There are some major findings that I have found during my internship period of time and provide some relevant recommendations in favor of these two banks to overcome that problems and execute their duties more efficiently and effectively.
PART ONE
CHAPTER 01
ORGANIZATION OBERVIEW
&
GENERAL BANKING
1.1.1 Introduction to the organization
Export Import Bank of Bangladesh Limited (EXIM Bank Ltd.) that was named before as Bengal Export Import Bank Limited (BAXIM Bank Ltd.) being newly formed commercial bank of the country. EXIM Bank Limited was established in 1999 under the leadership of Late Mr. Shahjahan Kabir, founder chairman who had a long dream of floating a commercial bank which would contribute to the socio-economic development of our country. He had a long experience as a good banker. A group of highly qualified and successful entrepreneurs joined their hands with the founder chairman to materialize his dream. In deed, all of them proved themselves in their respective business as most successful star with their endeavor, intelligence, hard working and talent entrepreneurship. Among them, Mr. Nazrul Islam Mazumder became the honorable chairman after the demise of the honorable founder chairman.
This bank starts functioning from 3rd August, 1999 with Mr. Alamgir Kabir, FCA as the advisor and Mr. Mohammad Lakiotullah as the Managing Director. Both of them have long experience in the financial sector of our country. By their pragmatic decision and management directives in the operational activities, this bank has earned a secured and distinctive position in the banking industry in terms of performance, growth, and excellent management. The authorized capital and paid up capital of the bank are Tk. 1000.00 million and Tk 313.87 million respectively.
From 1st July of 2004 EXIM has became Shahriah Based Islami Bank and from then on they are rendering banking services according to the Shariah banking. For smooth operation of their activities they have established a Shariah Board, which will decide about the rules and regulation according to which EXIM would operate its business. This change is the joint result of the change in the belief of the owner and the increasing demand of Islamic Banking amount the customers. Although this is a significant change and requires a substantial amount of adjustment EXIM march towards reaching grater heights in operation continues with full vigor and enthusiasm.
1.1.2 Vision of Exim Bank Ltd
Export Import Bank of Bangladesh Limited believes in togetherness with its customers, in its march on the road to growth and progress with services. To achieve the desire goal, there will be pursuit of excellence at all stages with a climate of continuous improvement, because in Exim bank, they believe the line of excellence is never ending.
1.1.3 Mission
• To be the finest bank in the banking arena of Bangladesh under the Shariah guidelines.
• To maintain Corporate and business ethics.
• To become a trusted repository of customers’ money and their financial advisor.
• To make our stock superior and rewarding to the customers/share holders.
• To display team spirit and professionalism.
• To have a Sound Capital Base.
• To provide high quality financial services in export and import trade.
• To provide excellent quality Customer service.
1.1.4 Objectives
• To receive, borrow or raise money through deposits, loan or otherwise and to give guarantees and indemnities in respect of al debts and contracts.
• To establish welfare oriented banking systems.
• To play a vital role in human development and employment generation to invest money in such manner as may vary from time to time.
• To carry on business of buying and selling currency, gold and other valuable assets.
• To extend counseling and advisory services to the borrowers/ entrepreneurs etc. in utilizing credit facilities of the bank.
• To earn a normal profit for meeting the operational expenses, building of reserve and expansion of activities to cover wider geographical area.
1.1.5 Slogan of the EXIM Bank- “Together, Towards, Tomorrow”
Export Import Bank Of Bangladesh Limited as the name implies, is not a new type of bank in global but is the first in Bangladesh. It believes in togetherness with its customers, in its march on the road to growth & progress with services. To achieve the desired goal, it has intention to pursuit of excellence at all stages with a climate of continuous improvement. Because it believes, the line of excellence is never ending. It also believes that its strategic plans & business networking will strengthen its competitive edge over in rapidly changing competitive environment. Its personalized quality services to customers with the trend of constant improvement might be cornerstone to achieve its operational success.
1.1.6 Mode of EXIM Bank- “Local Bank Global Network”
The word EXIM implies the meaning its operations. Though it is a new type of bank in Bangladesh, it is familiar with so many countries in the World such as Export Import Bank Of United States, Export Import Bank of Japan. Despite it is a local bank, it has spread of its operation in the whole world through foreign banking. Its motto is to provide quality services to the customers all over the WORLD. So the mode of the bank “Local Bank Global Network” is completely adjustable with operation.
1.1.7 Corporate Culture
This bank is one of the most disciplined Banks with a distinctive corporate culture. Here they believe in shared meaning, shared understanding and shared sense making. Their people can see and understand events, activities, objects and situation in a distinctive way. They mould their manners and etiquette, character individually to suit the purpose of the Bank and the needs of the customers who are of paramount importance to them. The people in the Bank see themselves as a tight knit team/family that believes in working together for growth. The corporate culture they belong has not been imposed; it has rather been achieved through their corporate conduct.
1.1.8 Management of EXIM Bank
Management is the process of planning, organizing, leading and controlling the work of organization members and of using all available organizational resources to reach stated organizational goals. The strength of a bank depends of the strength of its management team. EXIM Bank is proud to have a team of highly motivated, well-educated and experienced executives who have been contributing substantially to the continued progress of the bank.
Managerial effectiveness has been measured in EXIM Bank in terms of come selected criteria such deposit mobilization, loans and advances made, loan recovery, profitability and productivity. It has been found that EXIM bank is effective in respect of branch expansion, loan disbursement, loan recovery etc.
With a short spam of time, EXIM Bank has become one of the leading and most successful bank not only among the third generation banks but also it superseded many other banks and financial institutions belonging to second and even first generation banks fro the point of view of its excellent business performance, extraordinary corporate culture and strong team work under the dynamic leadership of its management. Management is trying to support and assist well-motivated and experienced affairs to run the day to day affairs of the bank smoothly. For maintains quality management, it is required to train-up more official at head office and branch level in respect of sanctioning, disbursement and recovery of credit, project appraisals, customer services etc.
1.1.9 Shariah board
The Board of directors has formed a Shariah Supervisory Board for the Bank. Their duty is to monitor the entire Bank’s transactional procedures, & assuring its Shariah compliancy. This Board consists of the following members headed by its chairmen. The tasks of the Shariah supervisor in summary is replying to queries of the Bank’s administration, staff members, shareholders, depositors, & customers, follow up with the Shariah auditors and provide them with guidance, submitting reports & remarks to the Fatwa & Shariah Supervision Board and the administration, participating in the Bank’s training programs, participating in the supervision over the AlIqtisad AlIslami magazine, & handling the duty of being the General Secretary of the Board.
Members of Shariah Council
Professor Moulana Mohammad Salah Uddin Mr. Md. Nazrul Islam Mazumder
Moulana Mohammad Sadequl Islam Mr. A.K.M Nurul Fazal Bulbul
Professor H.M. Shahidul Islam Barakaty Mr. Md. Abdul Mannan
Mr. A.S.M. Fakhrul Ahsan Mr. Zubayer Kabir
Hafez Moulana Mufti Mohammad Khair Ullah Mr. Abdullah Al-Zahir Sawpan
Hafez Quari Moulana Mufti Mohammad Nur Uddin Mr. Kazi Masihur Rahman
Shariah Auditing
This is the civil supervisory aspect that shapes the Bank’s main feature. Its existence is part of the Shariah Supervision procedures. One of it’s main task is to check the Shariah compliancy in the Bank’s transactional procedures in accordance to the Fatwa’s issued in that regard, under the guidance of the Shariah Supervisor. The Shariah auditor is assigned the task of revising the Bank’s transactional procedures throughout the year to check the extent to which the staff members and the different departments have abided by the regulations, advices, and Fatwa’s issued by the Fatwa & Shariah Supervision Board, forums, & banking conferences. As well as, assuring that all the contracts that states a right for the Bank or an obligation on the Bank is certified by the Fatwa & Shariah Supervision Board. Moreover, the Shariah Auditing submits periodic reports to the Shariah Supervisor in order to be proposed to the Fatwa & Shariah Supervision Board to state what it finds appropriate in that regard.
Banking with shariah principles
Export Import Bank of Bangladesh Limited is the 1st bank in Bangladesh who has converted all of its operations of conventional banking into shariah-based banking since July/2004. We offer banking services for Muslims and non-Muslims alike allowing our customers choice and flexibility in their savings and investments. Our products are approved by our Shariah Board comprising of veteran Muslim scholars of our country who are expert in all matters of Islamic finance. The process by which Noriba’s investments are designed and executed allows the Bank to offer a combination of Shariah compliance and capital markets expertise that is unique throughout the world.Noriba is committed to the strict adherence to the requirements of the Shariah as a result of the Bank’s sole focus on Shariah-compliant investments and the full supervision of its financial products & transactions by the Noriba Shariah Board.Noriba experts specifically design each of the Bank’s investment vehicles with the approval of the Noriba Shariah Board. Once the given product or transaction has been arranged, the Noriba Shariah Board carefully screens it for compliance before giving final approval for its implementation. This control mechanism guarantees that all aspects of Noriba’s final products and banking transactions are in adherence with the guidelines of the Shariah.
Shariah Based Islami Banking
By the grace of Almighty Allah, the Bank has started its operation as full-fledged Islami Bank based on Shariah through conversion from conventional interest based banking system with effect from 1st July 2004 with the approval of Bangladesh Bank. It is our great pleasure that every body gladly accepted the conversion with appreciation. It is a breakthrough in the history of Islami Banking, because all other Islamic Banks of Bangladesh are found Shariah based since inception i.e. at the time of their incorporation. We have also experienced some traditional Banks having a few branches based on Shariah. But total conversion of a conventional Bank into a full fledged Islami Bank is, perhaps, first time introduced by us in the World.
It is noted here that a learned Shariah Council, consisting of 12 members who are prominent ulema, reputed bankers and eminent economists of the country, has been formed to guide, monitor and supervise the banking activities complying Shariah principle since inception of its islami banking branches and thereafter transformation of its operation from traditional to fully Shariah based Islamic banking system. Professor Moulana Mohammad Salah Uddin is the Chairman of the council. Total 08(Eight) meetings of the council were held during the period.
1.1.10 Prime operational Area
As a commercial Bank, EXIM Bank provide all traditional banking services including a wide range of savings and investment scheme products, foreign exchange and ancillary services with the support of modern technology and professional management. But our main stress is, as the name implies, put on export and import trade handling and financing & the bank has become the pioneer in promoting Readymade Garment industries and one of the largest financiers in this sector. Since the inception, the Bank foresighted the bright prospects of this sector and extended finance to the deserving and promising entrepreneurs. It provides this sector with financial support including market information and advice and today the garment sector constitutes about 76% of the total export of the company.
1.1.11 Human resource management of EXIM Bank
Hunan resource is the fundamental asset of the organization. Human resource approach is concerned with the growth and development of people toward higher level of competency, creativity and fulfillment. Therefore, human resources development has been given its due importance in an environment that values performance, teamwork, fairness and integrity, it has both qualitative and quantitative dimension. EXIM Bank recognizes that intellectual capital is the most important asset for a financial institution.
Without proper and efficient human resources, no organization can run its operations. The bank believes that the professional competence bank personnel and its commitment for accomplishing assigned responsibilities are a first line of defense to prevent irregularities.
The objectives of Human Resource management of EXIM Bank are as follows:
Conducting job analysis
Planning employee needs and recruiting job candidates
Selecting of candidates
Orienting and training new employees
Managing wages and salaries (Compensating Employees) and benefits
Appraising performance
Communicating (interview, counseling, disciplining)
Training and developing managers
Building employee commitment
1.1.12 STRATEGIES of EXIM Bank Limited
The business of banking consists of borrowing and lending. As in other businesses operations must be based on capital, but banks employ comparatively little of their own capital in relation to the total volume of their transactions. The purpose of capital and reserve accounts is primarily to provide an ultimate cover against losses on loans and investments.
Hence there are readily insurance agents who are mostly there to assure the prospective customers as to how they can restore themselves should there be any losses. Furthermore deposit they have to gather within a given span of time. Now that, to some extent assures the constant inflow of cash. Most importantly, the contracts of the bank Manager, and the Senior Vice President mostly assure highly valued corporate clients to make deposits and in return the bank is benefited. It is mainly a familial management style that prevails in the corporate climate of EXIM Bank as rather than strictly being a bureaucratic organization.
Another strategy being the fact that compared to other banks EXIM Bank is comparatively new; hence; it is slowly emerging in the banking arena, but considering amount of time. It has taken to be at the current position is really remarkable, and it was only possible because of that fact that EXIM Bank has its mission in line and does not go off track just to be highly competitive. So, in others words, it is well aware of its position and it takes the help of traditional banking areas where making simple pay orders, telegraphic transfers, standing orders and other retail banking facilities where it accumulates a huge share its profits.
Altogether important fact worth mentioning remains that customer based of EXIM Bank especially the corporate customers; who are highly valued and specially treated; the bank considers them to be their own assets and these individuals have concrete and well established business.
Finally Again being rapid innovation, which is the introduction of online banking services. ATM cards, etc. is something that the bank looks forward to introducing as soon as possible because of the current demand in the market place. Hence rapid innovation is definitely a key strategy of this bank.
1.1.13 Value of EXIM Bank Limited
To have a strong customer focus and to build relationship based on integrity, superior service and mutual benefit.
To work as a team to serve the best interests of the organization.
To work for continuous business improvement,
To value and respect people and make decisions based on merit.
To provide recognition and reward on performance
1.1.14 Special Feature of EXIM Bank Limited
Through EXIM Bank is engaged in conventional commercial Banking it also consider the inherent desire of the religious Muslims, and has launched Islami Banking System and inaugurated two Islami Banking Branches in the year 2002 and one branch in 2003. And finally on It’s of July 2004 the Bank fully converted a Shariah Based Islami Bank.
It is pioneer in introducing and launching different customer friendly deposit schemes to tap the savings of the people for challenging the same to the productive sectors of the economy.
For up lifting the standard of living of the limited income group of the population the bank has introduced Monthly saving schemes to encourage the common and fixed income group of people.
The bank is committed to continue research and development so as to keep pace with modem banking.
The bank has introduced customer relations management system to assess the
Needs of various customers and resolve any problem on the spot.
The bank has introduced camera surveillance system (CCTV) to strengthen the security services inside the Bank premises.
The bank has also decided to go, for online banking facility to the customer in near future.
1.1.15 Corporate Information at a glance
Registered Name: Export Import (EXIM) Bank of Bangladesh Ltd
Registered Head office: Printers Building (5th floor)
5, Rajuk Avenue
Motijheel C/A
Dhaka – 1000
Phone No: 9566764, 9566418, 9553872, and 9561604
Fax No: 880-2-9556988
Telex: 642527 EXMHO BJ
E-mail: eximho@bdonline.com
Web site: www.eximbd.com
SWIFT: EXBKBDDH
Date of incorporation: 3rd August 1999
Authorized Capital: Tk.350.00 Crore (2007)
Paid up capital: Tk.214.22 Crore (2007)
Number of Branches: 35 (Thirty five)
Chairman: MR. NAZRUL ISLAM MAJUMDAR
Advisor: ALAMGIR KABIR, FCA
Managing Director: MR. KAZI MASIHUR RAHMAN
1.1.17 Corporate Social Responsibility
The purpose of our banking business is, obviously, to earn profit, but the promoters and the equity holders are aware of their commitment to the society to which they belong. A chunk of the profit is kept aside and/or spent for socio-economic development through trustee and in patronization of art, culture and sports of the country. We want to make a substantive contribution to the society where we operate, to the extent of our separable resources.
1.1.18 Achievement
It is a great pleasure that by the grace of Almighty Allah, we have migrated at a time all the branches from its conventional banking operation into Shariah based Islami banking operation without any trouble. Lot of uncertainties and adversities were there into this migration process. The officers and executives of our bank motivated the valued customers by counseling and persuasion in light with the spirit of Islam especially for the non-Muslim customers. Our IT division has done the excellent job of converting and fitting the conventional business processes into the processes based on Shariah. It has been made possible by following a systematic procedure of migration under the leadership of honorable Managing Director.
1.1.19 Business Functions
The bank operates through its Head Office at Dhaka and 39 branches in all over the Bangladesh. At present, EXIM Bank of Bangladesh has 39 branches of which 24 are in Dhaka, rest of the other division.
1.1.20 Karwan Bazar Branch’s Several Work Divisions:
Karwan Bazar Branch of Export Import Bank of Bangladesh Limited is inaugurated at the 3rd December, 2007 & the whole branch is divided into four work departments.
These departments are as follows:
• General Banking Department
• Foreign Exchange Department
• Investment Department
• Account and IT Department
Karwan bazaar Branch
1.1.20.1 General Banking:
General banking is the major sector of banking business. Here many collection procedures occur. Other services like cheque encashment, account transfer, account opening, account closing, bills and remittance are provided here. Accounts like, Mudaraba term Deposit, Mudaraba Deposit Scheme and Al Wadia current Account.
So, general banking section is the most important section in banking service. The activities perform through some procedures. Such as:
• Dispatch Inward and Outward
• Account Opening and Closing
• Balance Transfer
• Cheque Book Issue
• Local Remittance (Payment Order, DD, IT) Collections
• Transfer Delivery
• Inward Bills Collection
• Outward Bills Collection
• Cash Receiving and Payment
• Vault Maintaining
• Packing and Handling
• Evening Banking
1.1.20.2 Foreign Exchange Department:
The foreign exchange Department is responsible for opening Letter of Credit (L/C). This branch directly opensL/C because it is an AD Branch. This Branch opens L/C for its clients after the requirements are fulfilled.When a customer comes to open a L/C, the officers carefully measure the amount of the L/C and the limit sanctioned for him. The Branch opens L/C for clients.
The bank keeps margin with different rates. The rate of margin varies for with different customer in the basis of relationship with the customer. The lower margin rate for the customer depends on the good relationship remaining for a lone period of time and who has performed at a satisfactory level. The margin Rate varies from 10 % to 50 %. For a new client, the margin might be 100%. The bank charges a commission of 0.50% on the L/C value. When the L/C is opened and documents arrive, the officers open an MPI (Mudaraba Post Import) account. The margin is transferred to MIB Account. A one year markup profit is also calculated at the time. When the products arrive, the MILL is transferred to either Trust Received (TR) or MPI account.
1.1.20.3 Investment Department:
The advance or investment department is responsible for all kind of investment of the branch, when the clients want to take loan they apply to the manager and manager refers to the advance or investment department. Then this department analyzes the proposal and recommends sanctioning a limit. This section is also responsible for the recollection of loans. The go down of the bank is also maintained by this department.
1.1.20.4 Account and IT Departments:
This department records all the information of the expenses and incomes in different books. It also records all the information of different accounts of different clients’. This department is responsible for allocating and maintaining the equipments needed for doing the banking business. It also maintains the daily expenses of the branch and records it. On the other hand IT department which is controlled by the account department has a different task. It is responsible for online banking. It uses software of PC bank 2000 to do the job.
The main objective of this account is to provide convenience to the customers in their savings. This account allows the customer to deposit his/her surplus money as and when available and receive lucrative profit on the same. The customer can deposit any sum desired at any time of the operational hours in this account.
Education Savings Scheme
Multiplus Savings
Smart Saver
Mudaraba Monthly Saving Scheme- Money Grower
The first and foremost objective of this scheme is to encourage people to build up a habit of savings. Under this scheme, one can deposit monthly a fixed amount of money regular and will receive a substantial amount with handsome benefit after maturity of reasonable period/tenure.
Mudaraba Monthly Income Scheme- Steady Money
It is an alluring and commonly accepted scheme of EXIM Bank as an investment of steady monthly return. Under this scheme, the depositor is allowed to deposit at least Tk. 1, 00,000/- or its multiple amount for 3(three) years and in return he/she will receive profit on monthly basis at an attractive rate. This scheme mainly has been drown up as well as introduced for the benefit of middle-income group, practically retired personal.
Mudaraba Super Savings Scheme- Double in 6 years
Mudaraba Super Savings Scheme is offered for all classes of people, specially for the middle class, where the depositor is allowed to deposit at least Tk. 5,000/- or its multiple amount for 6(six) years and at the maturity of the account, deposited amount will be stood at more than double.
Mudaraba Multiplus Savings Scheme- More than triple in 10 years
Under this scheme, the depositor is allowed to deposit at least Tk. 5,000/- or its multiple amount for 10(ten) years and at the maturity of the account, it will be arrived at more than triple of his/her deposited amount. Moreover, the depositors may avail themselves of investment facility under above-mentioned schemes, by meeting easy terms and condition in regard to scheme(s), as the case may be.
Mudaraba Education Savings – For higher education
With a view to assisting the customer for higher education, EXIM Bank has introduced this scheme with convenient terms & conditions.
Mudaraba Credit Card
This service is introduced for the utmost convenience of the customers in paying for their purchase of commodities. The customer is allowed to avail credit purchase through this card and enjoy compensation free payment within a certain period as long as 50 days.
Mudaraba Hajj Prokalpa
In view of smooth arrangement for performing Hajj, EXIM bank has introduced this scheme under the tenure of 5, 8, 10, 15 & 20 years with nominal amount of deposit per month.
Foreign Currency Deposit Account
This account provides the customer with safe and lucrative way of saving their foreign currency. All non residents Bangladeshi are most welcome to save and remit their wages and earnings from abroad through this account.
1.1.23 Share Information of EXIM Bank
Investment:
Total amount of the bank TK 26046.34 million as on December31, 2008 As against of TK 19332.44 million as on December 31, 2007 showing an increase of TK6713.90 million with growth rate of 34.73%. Investment is the core asset of bank. It gives emphasis to acquire quality and does appropriate lending risk analysis while approving commercial and trade investment to clients.
Investment in Shares and Bonds
The size of the investment portfolio in 2008is taka 2233.25 million while it was taka 1633.03 million in year 2007.The portfolio companies Islamic Investment Bond, Shares and Prize Bonds.
From the above chart we can see that the investment in shares and bonds has been decrease in year 2007and year 2006compared to year 2005.It is because the rate of return in other investment is much higher than investment in shares and bonds. Moreover, EXIM bank was able to invest in other sectors. If we compare the general investment and investment in bonds and shares we can see that general investment is much higher.
Import Business:
During the year 2008, the bank opened 25656 Import L/Cs and the import stood at TK 49496.70 million with a growth of 20.905 in comparison to year 2005. If we compare import business of year 2006 to year 2005 than we can see that import business in both years is quite similar. Because during the year of 2007the bank opened 21555 Import L/Cs and the import values stood at TK 41432.1 million with a growth rate of 54.70% in comparison to year 2004.
Export Business:
The growth of the export business has significantly been increased by 40.39%. It stood at TK 46234.60 crore as of December 2008 against 31208.00 crore of December 2007.
Figure: Export Business
From the above graph we can see that both import and export business of EXIM bank is increasing. It is remarkable that import is increasing at a higher rate than export. It reflects the overall economy of the country. In the country the Export increased by 13.83% and Import increased by 21.4% during the year 2007and year 2008.That means the growth rate for import was higher than the growth rate of Export. EXIM bank is performing very well in the Export-Import business as both the growth rate of the bank was much higher than the growth rate of the country.
In the country the volume of import is higher than the export. That means the country is facing a trade deficit. Same function for the EXIM bank. The import business of the bank is higher than the export rate. As the country is facing trade deficit, the bank has to face some import restriction which reduce the number of credit.
Import Export
Year 2002 6567 6558.25
Year2003 11000 9125.37
Year2004 19260 15124.6
Year2005 26781 22418.4
Year2006 41432 31285
Year2007 49496.7 46234.6
Year2008 56589 51265
Remittance:
The growth of the remittance has significantly been increased by 62.39%. It stood at TK 395.65 Crore as per December 2008against 343.80Crore of December 2007
Year Amount In Million
Year 2002 95.00
Year 2003 165.00
Year 2004 235.00
Year 2005 113.00
Year 2006 223.00
Year 2007 343.80
Year 2008 395.65
1.1.25 Others Procedures
E-cash/ ATM Service
The bank is currently providing Credit Card Service (MasterCard) to the privileged customers of the bank in collaboration of Prime Bank. Floating VISA card for both Debit and Credit card service is under process.
Asset and Liability Management
A Banks Assets are mainly developed with and backed by its liabilities. Thus successful banking requires efficient and effective management of its assets and liabilities. Export Import Bank of Bangladesh Limited has a well organized Asset Liability Management Desk under direct supervision of a well formed and well groomed Asset Liability Committee (ALCO). The ALCO of the Bank monitors Balance Sheet risk and liquidity risks of the Bank. The term Balance Sheet risk refers to potential change in earnings due to change in rate of profit, foreign exchange rates which are not of trading nature. On the other hand, liquidity risk can be defined as the risk or chance of failure to meet up any withdrawal/disbursement request by a counter party/customer. The ALCO of EXIM Bank reviews liquidity requirement of the Bank, the maturity of assets and liabilities, deposit and lending pricing strategy and the liquidity contingency plan. The primary objective of the ALCO is to monitor and avert significant volatility in Net Profit Income (NPI), investment value and exchange earnings. Besides this, the ALCO of EXIM Bank deals with various issues that may put an impact on the profitability or management procedure of the Bank. To manage the contingent points of time and operation, the ALCO of the Bank calls for special meetings, analyzes the situation and decides what should be done to serve the Banks interest most.
Internal Control & Compliance
Internal Control and Compliance is the key of a good management and a strong core of an organization. It ensures safe and smooth operations within the organization. All the rules and regulation practiced in the banking industry are meant to safety and efficiency in banking operations of all kind. Internal Control and Compliance ensures that all the working units of the Bank abide by those rules and regulations without any fail.
Sometimes Operational loss arises from errors and fraud due to lack of Internal Control and Compliance. Internal Control and Compliance Division undertakes periodical and special audit of the branches and departments at Head Office for review of the operation and compliance of the statutory requirement. The Audit Committee of the Board of Directors plays an effective role in providing a bridge between the Board and Management. The Committee reviews the Financial Reporting process, the System of Internal Control, the Audit process and the Bank’s process for compliance with laws, regulations and code of conduct.
Export Import Bank of Bangladesh Limited has a very strong and well organized Internal Control and Compliance Division to look after the control and compliance level of rules and regulations within the Bank. Bangladesh Bank guidelines are strictly followed in case of Internal Control and Compliance of the Bank. There is a well-organized guideline prepared by the Internal Control and Compliance Division (ICCD) of the Bank in line with the guidelines of Bangladesh Bank. The audit and inspection department under ICCD is conducting audit and inspection on regular basis and submits reports to the Management and the Board Audit Committee with the follow-up of review on compliance and monitoring thereof satisfactorily. Besides, a number of circulars regarding Internal Control and Compliance are issued each year so that the employees of the Bank may learn about the rules and regulation of the Bank as well as the Regulatory Authorities and the amendments and changes therein.
Money Laundering
Money laundering means Illegal transactions made in order to project the proceeds of crime as legally obtained. Persons, who earn illegal money, try to hide their source of earning by conducting a number of transactions. Such transactions separate the source of earning from its proceeds. It becomes difficult for the law enforcing agencies to trace the source of earning.
Not only EXIM Bank, all of the company which has banking business must follow the rule. After the act the bank imposed some rule of their banking sector. Such as:
For money transfer form one bank to another bank a customer must need to be a bank account on the particular bank.
In case of foreign currency, the customer must need a bank account to receive the currency.
In case of sent money to outside of the country, without an account the customer cannot be able to sent money.
All of the banks strictly followed the money laundering act. If any of them failed to follow the rules there is a punishment for the bank by the government.
General Banking
1.2.1 Introduction
General banking department is the heart of all banking activities. This is the busiest and important department of a branch, because funds are mobilized, cash transactions are made; clearing, remittance and accounting activities are done here.
1.2.2 Activities OF GENERAL Banking Department
Since bank is confined to provide the services everyday, general banking is also known as ‘retail banking’. In EXIM Bank LTD Principal Branch, the following departments are under general banking section:
1) Account opening section
2) Deposit section
3) Cash section
4) Remittance section
5) Clearing section
6) Accounts section
1.2.2.1 ACCOUNT Opening Section:
Account opening is the gateway for clients to enter into business with bank. It is the foundation of banker customer relationship. This is one of the most important sections of a branch, because by opening accounts bank mobilizes funds for investment. Various rules and regulations are maintained and various documents are taken while opening an account. A customer can open different types of accounts through this department. Such as:
1. Al –Wadia (Current) account.
2. Mudaraba Savings (SB) account.
3. Mudaraba Short Term Deposit (MSTD)
Types of Accounts with Terms and Conditions
Al- Wadia (Current) Account:
Current account is purely a demand deposit account. There is no restriction on withdrawing money from the account. It is basically justified when funds are to be collected and money is to be paid at frequent interval.
Some Important Points are as follows-
1. Minimum opening deposit of TK.1000/- is required;
2. There is no withdrawal limit.
3. No interest is given upon the deposited money;
4. Minimum Tk.1000/= balance must always maintain all the time.
Mudaraba Savings (SB) Account:
This deposit is primarily for small-scale savers. Hence, there is a restriction on withdrawals in a month. Heavy withdrawals are permitted only against prior notice. Some Important Points are as follows-
1. Minimum opening deposit of Tk.5000/= is required;
2. Minimum Tk. 1000/= balance must always maintain all the time;
3. Withdrawal amount should not be more than 1/4th of the total balance at a time
and limit twice in a month.
4. If withdrawal amount exceed 1/4th of the total balance at a time no interest is
given upon the deposited money for that month.
Mudaraba Short Term Deposit (MSTD) Account:
Normally various big companies, organizations, Government Departments keep money in MSTD account. Frequent withdrawal is discouraged and requires prior notice. The deposit should be kept for at least seven days to get interest. The interest offered for MSTD is less than that of savings deposit. Interest is calculated based on daily minimum product and paid two times in a year. Interest rate is 4.50%.
Account Opening procedure:
Step 1 The account should be properly introduced by Any one of the following:
An existing Current Account holder of the Bank.
Officials of the Bank not below the rank of an Assistant officer.
A respectable person of the locality well known to the Manager/Sub-Manager of the Branch concerned.
Step 2 Receiving filled up application in bank’s prescribed form mentioning what type of account is desired to be opened
Step 3 The form is filled up by the applicant himself / herself
Two copies of passport size photographs from individual are taken, in case of firms photographs of all partners are taken
Applicants must submit required documents
Application must sign specimen signature sheet and give mandate
Introducer’s signature and accounts number – verified by legal officer
Step 4 Authorized Officer accepts the application
Step 5 Minimum balance is deposited – only cash is accepted
Step 6 Account is opened and a Cheque book and pay-in-slip book is given
Documents required for opening account
Individual / Joint Account:
1. Introduction of the account.
2. Two photographs of the signatories duly attested by the introducer.
3. Identity (copy of passport).
4. Joint Declaration Form (For joint a/c only).
5. Employee’s Certificate (in case of service holder).
□ Partnership account:
1. Introduction of the account.
2. Two photographs of the signatories duly attested by the introducer.
3. Partnership letter duly signed by all partners (Sign should be similar as stated in Partnership Deed).
4. Partnership Deed duly certified by Notary public.
5. Registration (If any).
6. Updated Trade license.
□ Proprietorship account:
1. Introduction of the account.
2. Two photographs of the signatories duly attested by the introducer.
3. Valid copy of Trade License.
4. Rubber stamp.
5. TIN number certificate.
6. Identity (Copy of passport).
7. Permission letter from DC/ Magistrate (in case of newspaper)
□ Limited company:
1. Introduction of the account.
2. Two photographs of the signatories duly attested by the Introducer.
3. Valid copy of Trade License.
4. Board resolution of opening A/C duly certified by the Chairman/Managing Director.
5. Certificate of Incorporation.
6. Certificate of Commencement (In case of Public limited company).
7. Certified (joint stock) true copy of the Memorandum and Article of Association of the Company duly attested by Chairman or Managing Director.
8. List of directors along with designation & specimen signature.
9. Latest certified copy of Form – xii (to be certified by register of joint stock companies) (In case of Directorship change).
10. Rubber Stamp (Seal with designation of each person)
11. Certificate of registration (In case of Insurance Company – Obtained from department of Insurance from the Peoples Republic of BD).
□ Club / societies account:
1. Introduction of the account.
2. Two photographs of the Signatories duly attested by the introducer.
3. Board Resolution for Opening A/C duly certified by President/ Secretary.
4. List of Existing Managing Committee.
5. Registration (if any).
6. Rubber Stamp.
7. Permission letter from Bureau of N.G.O.(In case of N.G.O. A/C).
1.2.2.2 Deposit Section:
Deposit is the lifeblood of a bank. From the history and origin of the banking system
We know that deposit collection is the main function of a bank.
Accepting deposits:
The deposits that are accepted by EXIM Bank like other banks may be classified in to,
a) Demand Deposits
b) Time Deposits
Demand deposits:
These deposits are withdrawn able without notice, e.g. current deposits. EXIM Bank accepts demand deposits through the opening of,-
a) current account
b) Savings account
c) Call deposits from the fellow bankers
Time deposits:
A deposit which is payable at a fixed date or after a period of notice is a time deposit. EXIM Bank accepts time deposits through Fixed Deposit Receipt (FDR), Short Term Deposit (STD) and Bearer Certificate Deposit (BCD) etc.
While accepting these deposits, a contract is done between the bank and the customer. When the banker opens an account in the name of a customer, there arises a contract between the two. This contract will be valid one only when both the parties are competent to enter into contracts. As account opening initiates the fundamental relationship & since the banker has to deal with different kinds of persons with different legal status, EXIM Bank officials remain very much careful about the competency of the customers.
1.2.2.3 Cash Section:
Banks, as a financial institution, accept surplus money from the people as deposit and give them opportunity to withdraw the same by cheque, etc. But among the banking activities, cash department play an important role. It does the main function of a commercial bank i.e. receiving the deposit and paying the cash on demand. As this department deals directly with the customers, the reputation of the bank depends much on it. The functions of a cash department are described bellow:
Functions of Cash Department:
Cash Payment 1.Cash payment is made only against cheque
2.This is the unique function of the banking system which
is known as “payment on demand”
3.It makes payment only against its printed valid Cheque
Cash Receipt 1.It receives deposits from the depositors in form of cash
2.So it is the “mobilization unit” of the banking system
3.It collects money only its receipts forms
□ Cash packing:
After the banking hour cash is packed according to the denomination. Notes are counted and packed in bundles and stamped with initial.
□ Allocation of currency:
Before starting the banking hour all tellers give requisition of money through “Teller cash proof sheet”. The head teller writes the number of the packet denomination wise in “Reserve sheet” at the end of the day, all the notes remained are recorded in the sheet.
1.2.2.4 Local Remittance:
Carrying cash money is troublesome and risky. That’s why money can be transferred from one place to another through banking channel. This is called remittance. Remittances of funds are one of the most important aspects of the Commercial Banks in rendering services to its customers.
Types of remittance:
Between banks and non banks customer
Between banks in the same country
Between banks in the different centers.
Between banks and central bank in the same country
Between central bank of different customers.
The main instruments used by the EXIM Bank of remittance of funds are
• Payment order ( PO)
• Demand Draft ( DD)
• Telegraphic Transfer (TT)
So the basic three types of local remittances are discussed below
Points Pay Order Demand Draft TT
Explanation Pay Order gives the payee the right to claim payment from the issuing bank Demand Draft is an order of issuing bank on another branch of the same bank to pay specified sum of money to payee on demand. Issuing branch requests another branch to pay specified money to the specific payee on demand by Telegraph /Telephone
Payment from Payment from issuing branch only Payment from ordered branch Payment from ordered branch
Payment from Payment from issuing branch only Payment from ordered branch Payment from ordered branch
Generally used to Remit fund Within the clearinghouse area of issuing branch. Outside the clearinghouse area of issuing branch. Payee can also be the purchaser. Anywhere in the country
Payment Process of the paying bank Payment is made through clearing 1. Confirm that the DD is not forged one.
2.Confirm with sent advice
3.Check the ‘Test Code’
4.Make payment 1.Confirm issuing branch
2.Confirm Payee A/C
3.Confirm amount
4.Make payment
5.Receive advice
Charge Only commission Commission + telex charge Commission +
telephone
Fixed Deposit:
The Local Remittance section of EXIM Bank Karwan Bazaar Branch also issues FDR.
They are also known as time deposit or time liabilities. These are deposits, which are made with the bank for a fixed period, specified in advance. The bank need not maintain cash reserves against these deposits and therefore, the bank offers higher of interest on such deposits.
Opening of fixed Deposit Account:
The depositor has to fill an account form where in the mentions the amount of deposit, the period for which deposit is to be made and name/names is which the fixed deposit receipt is to be issued. In case of a Joint name EXIM Bank also takes the instructions regarding payment of money on maturity of the deposit. The banker also takes specimen signatures of the depositors.
SL no. Range of amount Rate of Interest
01 TK 10000.00-Above 12%
A fixed deposit account is then issued to the depositor acknowledging receipt of the sum of money mentioned there. It also contains the rate of interest and the date on which the deposit will fall due for payment.
• Term Deposits: These rates are not negotiable. In this table we can find out the percentage that is given by the bank for specific period of time to the customer.
Fixed deposit: 3 (three) month
SL no. Range of amount Rate of Interest
01 TK 10000.00-Above 10%
Fixed deposit: 6 (six) month
SL no. Range of amount Rate of Interest
01 TK 10000.00-Above 11%
Fixed deposit: 12 (twelve) month
SL no. Range of amount Rate of Interest
01 TK 10000.00-Above 12%
• Payment of interest: It is usually paid on maturity of the fixed deposit. EXIM Bank calculates interest at each maturity date and provision is made on that “miscellaneous creditor expenditure payable accounts” is debited for the accrued interest.
• Encashment of FDR: In case of premature FDR< EXIM Bank is not bound to accept surrender of the deposit before its maturity date. In order to deter such a tendency the interest on such a fixed deposit is made cut a certain percentage less the agreed rate. Normally savings bank deposit is allowed.
• Loss of FDR: In case of lost of FDR the customer is asked to record a GD (general diary) in the nearest police station. After that the customer has to furnish an Indemnity Bond to EXIM Bank a duplicate FDR is then issued to the customer by the bank.
• Renewal of FDR: In EXIM Bank, the instrument is automatically renewed within seven days after the date of its maturity if the customer does not come to encase the FDR. The period for renewal is determined as the previous one.
Foreign Remittance
This bank is authorized dealer to deal in foreign exchange business. As an authorized dealer, a bank must provide some services to the clients regarding foreign exchange and this department provides these services.
The basic function of this department are outward and inward remittance of foreign exchange from one country to another country. In the process of providing this remittance service, it sells and buys foreign currency. The conversion of one currency into another take places at an agreed rate of exchange, which the banker quotes, one for buying and another for selling. In such transactions the foreign currencies are like any other commodities offered for sales and purchase, the cost (convention value) being paid by the buyer in home currency, the legal tender.
Remittance procedures of foreign currency
There are two types of remittance:
A) Inward remittance
B) Outward remittance
A) Inward Foreign Remittance
Inward remittance covers purchase of foreign currency in the form of foreign T.T., D.D, and bills, T.C. etc. sent from abroad favoring a beneficiary in Bangladesh. Purchase of foreign exchange is to be reported to Exchange control Department of Bangladesh bank on Form-C.
B) Outward Foreign Remittance
Outward remittance covers sales of foreign currency through issuing foreign T.T. Drafts, Travelers Check etc. as well as sell of foreign exchange under L/C and against import bills retired.
Working of this department
1. Issuance of TC, Cash Dollar /Pound
2. Issuance of FDD, FTT & purchasing, Payment of the same.
3. Passport endorsement.
4. Encashment certificate.
5. F/C Account opening &filing.
6. Opening of Export FC retention Quota A/C& maintain.
7. Maintenance of ledger of Cash Dollar, FC Deposit A/C & TC.
8. Maintain FBC register &follow up FBC.
9. Opening of Student file &Maintain.
10. Preparation of all related statement, Voucher & posting.
11. Preparation of Weekly, Monthly, Yearly Statement for Bangladesh Bank returns timely.
12. Attending all related correspondence to other Bank or Institutions.
1.2.2.5 CLEARING Section:
Cheques, Pay Order (P.O), Demand Draft (D.D.) Collection of amount of other banks on behalf of its customer are a basic function of a Clearing Department.
• Clearing:
Clearing is a system by which a bank can collect customers fund from one bank to another through clearing house.
• Clearing House:
Clearing House is a place where the representatives of different banks get together to receive and deliver cheque with another banks.
Normally, Bangladesh Bank performs the Clearing House in Dhaka, Chittagong, , and Khulna & Bogra. Where there is no branch of Bangladesh Bank, Sonali bank arranges this function.
• Member Of Clearing House:
EXIM Bank LTD. is a scheduled Bank. 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 cheque drawn upon one another through the clearinghouse.
• Types of Clearing:
A) Outward Clearing: When the Branches of a Bank receive cheque from its customers drawn on the other Banks within the local clearing zone for collection through Clearing House, it is Outward Clearing.
B) Inward Clearing: When the Banks receive cheque drawn on them from other Banks in the Clearing House, it is Inward Clearing.
• Types of clearing house: There are two type of clearing house: Those are
1) Normal clearing house
2) Same day clearing house
Normal clearing house:
1) 1st house: 1st house normally stands at 10 a.m. to 11a.m
2) 2nd house: 2nd house normally stands after 3 p.m. and it is known as return house.
Same day clearing house:
1) 1st house: 1st house normally stands at 11 a.m. to 12 p.m
2) 2nd house: 2nd house normally stands after 2 p.m. and it is known as return house.
• Who will deposit cheque for Clearing: Only the regular customers i.e. who have Savings, Current, STD & Loan Account in the bank can deposit cheque for collection of fund through Clearing house.
Precaution at the time of cheque receiving for Clearing, Collection of LBC, OBC & Transfer:
1) Name of the account holder same in the cheque & deposit slip.
2) Amount in The cheque & deposit slip must be same in words & in figure
3) Date in the cheque may be on or before (but not more than six months back) clearing house date.
4) Bank & Branch name of the cheque, it’s number & date in the Deposit slip.
5) Cheque must be signed.
6) Signature for confirmation of date, amount in words / in figure Cutting &
Mutilation of cheque.
7) Cheque should be crossed (not for bearer cheque).
8) Account number in the deposit slip must be clear.
9) Depositor’s signature in the deposit slip.
Return house:
Return House means 2nd house where the representatives of the Bank meet after 3 p.m. to receive and deliver dishonored cheque, which placed in the 1st Clearing House.
Cheque may be dishonored for any one of the following reasons:
1) Insufficient fund.
2) Amount in figure and word differs.
3) Cheque out of date/ post- dated.
4) Payment stopped by the drawer.
5) Payee’s endorsement irregular / illegible / required.
6) Drawer’s signature differs / required.
7) Crossed cheque to be presented through a bank.
8) Other specific reasons not mentioned above.
The dishonor cheque entry in the Return Register & the party is informed about it. Party‘s signature required in the return register to deliver the dishonor cheque. After duration, the return cheque is sent to the party’s mailing address with Return Memo.
If the cheque is dishonored due to insufficiency of funds then EXIM Bank charges. 58/=as penalty.
Responsibility of the concerned officer for the Clearing Cheque:
1) Crossing of the cheque.
2) (Computer) posting of the cheque.
3) Clearing seal & proper endorsement of the cheque.
4) Separation of cheque from deposit slip.
5) Sorting of cheque 1st bank wise and then on branch wise.
6) Computer print 1st branch wise & then bank wise.
7) Preparation of 1st Clearing House computer validation sheet.
8) Examine computer validation sheet with the deposit slip to justify the computer posting
9) Copy of computer posting in the floppy disk.
Bills Collection:
In modern banking the mechanism has become complex as far as smooth transaction and safety is concerned. Customer does pay and receive bill from their counterpart as a result of transaction. Commercial bank’s duty is to collect bills on behalf of their customer.
Types of Bills for Collection
i. Outward Bills for Collection (OBC).
ii. Inward Bills for Collection (IBC).
Outward Bills for Collection (OBC)
OBC means Outward Bills for Collection .OBC exists with different branches of different banks outside the local clearing house. Normally two types of OBC:
1) OBC with different branches of other banks.
2) OBC with different branches of the same bank.
Procedure of OBC:
1) Entry in the OBC register.
2) Put OBC number in the cheque.
3) “Crossing seal” on the left corner of the cheque & “ payees account will be credited on realization “ seal on the back of the cheque with signature of the concerned officer.
4) Dispatch the OBC cheque with forwarding.
5) Reserve the photocopy of the cheque, carbon copy of the forwarding and deposit slip of the cheque in the OBC file.
Commission for collection:
Up to 1 lac ———————————————- 0.15%
Above 1 lac———————————————- 0.10%
Above 5lac ———————————————- 0.05%
Inward bills for collection (IBC)
When the banks collect bills as an agent of the collecting branch, the system is known as IBC. In this case the bank will work as an agent of the collection bank. The branch receives a forwarding letter and the bill.
Procedure of IBC:
1. IBC against OBC: To receive the OBC cheque first we have to give entry in the IBC Register .The IBC number should put on the forwarding of the OBC with date.
2. Deposit of OBC amount: OBC cheque amount is put into the “sundry deposit-sundry Creditors account”, prepare debit & credit voucher of it . If the OBC cheque is honored, send credit advice (IBCA) with signature & advice number of the concern branch for the OBC amount.
3. If the OBC cheque is dishonored, the concerned branch is informed about it .
4. Again place in the clearing house or send the OBC cheque with Return Memo to the issuing branch according to their information.
1.2.2.6 ACCOUNTS SECTION:
Accounts Department is called as the nerve Centre of the bank. In banking business, transactions are done every day and these transactions are to be recorded properly and systematically as the banks deal with the depositors’ money. . Improper recording of transactions will lead to the mismatch in the debit side and in the credit side. To avoid these mishaps, the bank provides a separate department; whose function is to check the mistakes in passing vouchers or wrong entries or fraud or forgery. This department is called as Accounts Department. If any discrepancy arises regarding any transaction this department report to the concerned department.
Besides these, the branch has to prepare some internal statements as well as some statutory statements, which are to be submitted to the Central Bank and the Head Office.
This department prepares all these statements, Workings of this department:
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. Preparing the daily Statement of Affairs showing all the assets and liability of
the branch as per General Ledger and Subsidiary Ledger separately.
5. Making payment of all the expenses of the branch.
6. Recording inters branch fund transfer and providing accounting treatment in
this regard.
7. Preparing the monthly salary statements for the employees.
8. Preparing the weekly position for the branch which is sent to the Head Office to maintain Cash Reserve Requirement (C.R.R)
9. Preparing the monthly position for the branch which is sent to the Head Office to maintain Statutory Liquidity Requirement (S.L.R)
10. Make charges for different types of duties
11. Preparing the budget for the branch by fixing the target regarding profit.
.
12. Checking of Transaction List, Packing of the correct vouchers according to the debit voucher and the credit voucher
13. Deposit so as to take necessary steps to generate and mobilize deposit
PART TWO
CHAPTER 01
PROJECT INFORMATION
2.1.1 Introduction to the project
Banking operations are becoming more dynamic and challenging job to do the business in the financial market. The demand for superior banking facilities offers one-stop integrated financial services for the customers. The ability of banks to offer clients access to several markets for different classes of financial instruments has become a valuable competitive edge. The working of the customer’s mind is a mystery which is difficult to solve and understanding the nuances of what customer satisfaction is a challenging task. This exercise in the context of the banking industry will give us an insight into the parameters of customer satisfaction and their measurement. This vital information will help us to build satisfaction amongst the customers and customer loyalty in the long run which is an integral part of any business.
The customer’s requirements must be translated and quantified into measurable targets. This provides an easy way to monitor improvements, and deciding upon the attributes that need to be concentrated on in order to improve customer satisfaction. We can recognize where we need to make changes to create improvements and determine if these changes, after implemented, have led to increased customer satisfaction. If we can’t measure the level of customer satisfaction in banking sectors then we can’t able to improve the banking service in order to keep customer satisfy.
The reason behind choosing this topic is to know the level of customer satisfaction and performance between the Exim Bank Ltd and Standard Chartered Bank Ltd. In this report I have tried to make differences in order to banking performance, employee performances and the level of customer satisfaction in these two banks. At the same time to come across major findings and to provide some relevant recommendations in favor of the Bank
2.1.2Objectives of the study:
The broad objective of the internship program is to identify the overall satisfaction level of customer’s between Exim bank and Standard Chartered Bank.
The major objectives of this study are as under:
• To identify the level of customer satisfaction of Exim Bank Limited and Standard Chartered Bank Limited.
• To evaluate the employees behavior and performance of these two banks.
• Determine the wide range of quality service.
• Bank selection criteria.
• Determine the overall banking performance of these two banks.
• Some recommendation and suggestions to improve banking performance and employees performances for keeping the customers satisfy.
2.1.3 Scope of the study
This report provides the comprehensive idea about the employee’s behavior, their performance, banking facilities, wide range of banking services and the level of customers satisfaction which make difference between Exim Bank Limited and Standard Chartered Bank limited. The report is mainly focus on why people choose their bank in such a competitive banking environment. The report highlighted the measurement of quality services, level of the employee performances, customers rating different banking activities and most important issue customer’s satisfaction with overall banking activities and facilities of these two banks.
2.1.4 Methodology
Methodology includes direct observation, face-to-face discussion with employees and customer of General Banking department and practical work. In preparing this report both primary and secondary sources of information have been used. The study requires a systematic procedure from selection of the topic to final report preparation. To perform the study the data sources are to be identified and collected, they are to be classified, analyzed, interpreted and presented in a systematic manner and key points are to be found out. The over all process of methodology is given in the following page that has been followed in the study.
Selection of the topic
The topic of the study was assigned by our supervisor. Before assigning the topic it was discussed with me so that a well organized internship report can be prepared.
Identifying the data sources
Essential data sources both primary and secondary are identified which are needed to complete and work out the study. To meet up the need of primary data are used and study also requires interviewing the customers by using the questionnaire method to know the level of customer’s satisfaction of two banks. The report also required secondary data.
The primary sources are
Face to face conversation with the customers.
Face to face conversation with the respective officers.
Interviews with the 80 customers of two banks.
Practical deskwork.
The Secondary Sources are
Annual Report of EXIM Bank Ltd and Standard Chartered Bank Ltd.
Gather knowledge about the bank from their banking website.
Publications obtained from different libraries and from internet.
Research design
Questionnaire based research have been conducted by me. The questionnaire of my survey have made by considering the types of open ended, fixed alternatives and likert scale.
Sample Design
I have considered the different section of people who have an account of these two banks. In total I have completed my survey with 40 respondents each banks, which means total 80 respondents of two banks.
Data Gathering
Primary data are collected by using interviewing technique based on a questionnaire. The report is an exploratory research and qualitative survey.
Classification
Analysis, interpretations and presentation of data; some graphical tools are used in this report for analyzing the collected data and to classifying those to interpret them clearly.
Findings of the study
The collected data were scrutinized very well and were pointed out and shown as findings. Few recommendations are also made for improvement of the level of customer satisfaction.
Final report preparation
On the basis of the suggestions of our honorable faculty advisor some corrections were made to present the paper in this form.
21.5 Limitation of the study
This is an individual research work where only one individual researcher need to undertake the whole process done alone but the time frame work did not permit me. In all respect some limitations and weakness remain within which I failed to escape by any means. These are follows:
• Relevant data and document collection is difficult due to the organization confidentiality.
• Due to shortage of time, it is not possible to gather in-depth knowledge of the Exim Bank Ltd.
• Large-scale research is not possible due to access constraints.
• Insufficiency of necessary information and data.
• Sometimes officials deny disclosing some information as to maintain secrecy.
• Up-to-date information is not available.
• It’s very difficult to measure the level of employee performance in sort period of time.
• Some times customers didn’t have that much of time for answering the questionnaire properly.
• Insufficient books, publications and journals about the banks information.
PART TWO
CHAPTER 02
ANALYTICAL PART
This graph discloses different age groups of people of these two banks. The graph expresses that in the 18-27 age group Exim bank has 15% customers and SCB has 10% customers, 28-37 age group Exim bank has 30% customers and SCB has 35% customers, 38-47 age group Exim bank has 20% customers and SCB has 40% customers, 48-57 age group Exim bank has 15% customers and SCB has 10% customers, 58 & above age group Exim bank has 20% customers and SCB has 5% customers.
Profession of respondent:
EXIM SCB
Profession of respondent
Interpretation:
The graph shows that Exim bank’s 35% customers are businessman and in SCB 45% customers are dealing with businesses. In terms of service holder consumers EB has 25% and SCB has 20%. In terms of student consumers EB has 5% and SCB has 10%. In terms of housewife consumers EB has 15% and SCB has 10%. In the others EB has 20% and SCB has 15%.
Types of Account:
EXIM
Types of Account
Interpretation:
The Exim Bank graph shows that 35% of customers has Al- waadia current Account, 30% of customers has Mudaraba Savings, 20% of customers has Mudaraba term deposit, 10% of customers has Mudaraba Savings scheme, 5% of customers has Mudaraba hajj scheme.
Types of Account
Interpretation:
SCB Bank graph shows that 40% of customers has current Account, 25% of customers has Savings account, 15% of customers has fixed deposit, 10% of customers has super Savings scheme, 5% of customers has Millionaire scheme.
2. Bank Selection criteria
Branch location is convenient:
Branch location is convenient
Interpretation:
Branch location is one of the most important factors to choose a bank. From the graph I can state that 30% customers of EB and 25% customers are strongly agreed to this point, 35% customers of EB and 40% customers of SCB are agreed, 10% customers of EB and 15% customers of SCB are neutral, 15% customers of EB and 15% customers of SCB are disagreed, 10% customers of EB and 5% customers of SCB are strongly disagreed.
Image of the bank:
EXIM SCB
Image of the bank
Interpretation:
Image of the bank is also play a vital role of choose a bank. From the afore said graphs I can state that according to the image of the bank 25% customers in Exim bank and 30% customers in Standard chartered bank are strongly agreed, 45% customers in Exim bank and 40% customers in SCB are agreed, 5% customers in EB and 15% customers in SCB are neutral, 15% customers in Exim bank and 10% customers in Standard chartered bank re disagreed, 10% customers in EB and 5% customers in Standard chartered bank are strongly disagreed,
ATM facilities are sufficient (such as debit card, credit card):
EXIM SCB
ATM facilities are sufficient
Interpretation:
I have asked question to he customer about the ATM card facilities. From their answer I have found that in the strongly agreed option SCB 35% where there is no answer from the EB, in the agree option 10% of EB customers and 50% of SCB customers are rated. And 15% customers in Exim bank and 10% customers in SCB are neutral, 30% customers in Exim bank and 5% customers in Standard chartered bank are disagreed, 45% customers in Exim bank and 0% customers in SCB are strongly disagreed.
Better service quality:
EXIM SCB
Better service quality
Interpretation:
In terms of better service quality 25% of Exim bank customers and 20% of Standard Chartered bank customers are strongly agreed, 35% of Exim bank customers and 40% of SCB customers are agreed, 10% of Exim bank customers and 20% of Standard Chartered bank customers are neutral, 20% of EB customers and 15% of SCB customers are disagreed, 10% of Exim bank customers and 5% of Standard Chartered bank customers are strongly disagreed,
Service charge is low:
EXIM SCB
Service charge is low
Interpretation:
In case of low service charge 25% of Exim bank customers and 5% of Standard Chartered bank customers are strongly agreed, 45% of Exim bank customers and 15% of Standard Chartered bank customers are agreed, 15% of Exim bank customers and 25% of Standard Chartered bank customers are neutral, 5% of Exim bank customers and 40% of SCB customers are disagreed, 10% of Exim bank customers and 15% of Standard Chartered bank customers are strongly disagreed,
Advanced technology is implemented:
EXIM SCB
Advanced technology is implemented
Interpretation:
From the graph I can state that 5% customers of EB and 20% customers are strongly agreed to this point, 15% customers of EB and 35% customers are agreed, 25% customers of EB and 15% customers are neutral, 35% customers of EB and 20% customers are disagreed, 20% customers of EB and 10% customers are strongly disagreed.
Islamic banking facilities are available:
EXIM SCB
Islamic banking facilities are available
Interpretation:
In terms of Islamic banking facilities 35% of Exim bank customers and 10% of Standard Chartered bank customers are strongly agreed, 50% of Exim bank customers and 20% of SCB customers are agreed, 10% of Exim bank customers and 25% of Standard Chartered bank customers are neutral, 5% of EB customers and 15% of SCB customers are disagreed, 0% of Exim bank customers and 30% of Standard Chartered bank customers are strongly disagreed,
Recommendation by friends or relatives:
EXIM SCB
Recommendation by friends or relatives
Interpretation:
Sometimes reference plays a vital role to choose banks. The aforesaid graph is representing the recommendation given by the friends and relatives. It states that 30% of Exim bank customers and 25% of SCB customers are strongly agreed at this point, 40% of Exim bank customers and 30% of SCB customers are agreed, 10% of Exim bank customers and 15% of SCB customers are neutral, 15% of Exim bank customers and 20% of SCB customers are disagreed, 5% of Exim bank customers and 10% of SCB customers are strongly disagreed.
3. Measurement of employee performance
Employees treat customers with respect:
EXIM SCB
Employees treat customers with respect
Interpretation:
Employees’ behavior is one of greatest factors to the customers. Regarding the employees superior behavior 25% of EB subscribers and 20% SCB subscribers are strongly agreed, 45% of EB subscribers and 35% SCB subscribers are agreed, 15% of EB subscribers and 20% SCB subscribers are neutral, 10% of EB subscribers and 15% SCB subscribers are disagreed, 5% of EB subscribers and 10% SCB subscribers are strongly disagreed.
Employees listen carefully and genuinely concern about the customers problem:
EXIM SCB
Statement Number of respondent percentage Statement Number of respondent percentage
Employees listen carefully and genuinely concern
Interpretation:
From the graph I can state that 20% customers of EB and 20% customers of SB are strongly agreed to in terms of employee empathy to the customers, 35% customers of EB and 40% customers are agreed, 20% customers of EB and 15% customers are neutral, 15% customers of EB and 20% customers are disagreed, 10% customers of EB and 5% customers are strongly disagreed.
Employees are happy to provide prompt service:
EXIM SCB
Statement No of respondent percentage Statement No of respondent percentage
Employees are happy to provide prompt service
Interpretation:
Employees’ responsiveness is one of important factors for the customers to keep them satisfy. Regarding the employees better responsiveness 15% of EB clients and 10% SCB clients are strongly agreed, 40% of EB clients and 45% SCB clients are agreed, 25% of EB clients and 20% SCB clients are neutral, 15% of EB clients and 10% SCB clients are disagreed, and 5% of EB clients and 15% SCB clients are strongly disagreed.
Employees are accurate and consistent through their service:
EXIM SCB
Statement No of respondent percentage Statement No of respondent percentage
Employees are accurate and consistent
Interpretation:
In case of employee reliability 25% of Exim bank customers and 20% of Standard Chartered bank customers are strongly agreed, 35% of EB customers and 45% of SCB customers are agreed, 15% of Exim bank customers and 20% of Standard Chartered bank customers are neutral, 20% of EB and 10% of SCB customers are disagreed, 5% of Exim bank customers and 5% of Standard Chartered bank customers are strongly disagreed.
Satisfaction with the overall employee’s performances:
EXIM SCB
Statement No of respondent percentage Statement No of respondent percentage
Overall employee’s performances
Interpretation:
The overall customers’ satisfaction level of employee performance is most significant elements to the customers. From this graph I can say that 20% of Exim bank customers and 15% of SCB customers are strongly agreed at this point, 40% of EB customers and 35% of SCB customers are agreed, 20% of Exim bank customers and 25% of SCB customers are neutral, 15% of Exim bank customers and 15% of SCB customers are disagreed, 5% of Exim bank customers and 10% of SCB customers are strongly disagreed.
4. Customers rating according to the banking performance
Acceleration of transaction
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Acceleration of transaction
Interpretation:
Deposit the money and withdraw money is related with the speed of transaction provided by the banks to the customers to keep them happy. In this graph I can state that 15% of Exim Bank customers and 10% of Standard Chartered Bank customers declare excellent in terms of acceleration of transaction, 30% of EB customers and 25% of SCB customers are said good, 40% of EB customers and 45% of SCB customers are state average, 10% of EB customers and 10% of SCB customers are says poor and 5% of EB customers and 10% of SCB customers are declare very poor.
Expertise in solving problem:
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Expertise in solving problem
Interpretation:
This graph discloses the how much these two banks capable expertise in solving problem. The graph expresses that 15% of Exim Bank customers and 20% of Standard Chartered Bank customers state that they are excellent at this point. 40% of EB customers and 45% of SCB customers are says good, 30% of EB customers and 25% of SCB customers are says average, 10% of EB customers and 5% of SCB customers are state poor and 5% of Exim Bank customers and 5% of Standard Chartered Bank customers state that they are very poor at this point.
Secrecy in terms of transaction:
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Secrecy in terms of transaction
Interpretation:
Confidentiality of the customer’s transaction is one of the key concerns to the customers. In this point 20% of EB customers and 25% of SCB customers said excellent, 45% of EB customers and 40% of SCB customers state good, 30% of EB customers and 25% of SCB customers said average, 5% of EB customers and 10% of SCB customers declare poor and 0% of both the banks customers are said very poor.
Customer relationship management
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Customer Relationship Management
Interpretation:
CRM is one of the significant elements of marketing arena which would be used by the banking management to the customers in order to know the current status of customers. From this graph I can say that 10% of Exim Bank customers and 20% of Standard Chartered Bank customers says excellent, 30% of EB customers and 40% of SCB customers state good, 35% of EB customers and 30% of SCB customers declare average, 15% of EB customers and 5% of SCB customers state poor and 10% of EB customers and 5% of SCB customers state very poor.
Branch approachability
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentag oachability
Interpretation:
This graph discloses the how much these two banks branches are friendliness with the customers. The graph expresses that 20% of Exim Bank customers and 15% of Standard Chartered Bank customers state that they are excellent at this point. 30% of EB customers and 25% of SCB customers are says good, 35% of EB customers and 40% of SCB customers are says average, 10% of EB customers and 10% of SCB customers are state poor and 5% of Exim Bank customers and 10% of Standard Chartered Bank customers state that they are very poor at this point.
Debit card & credit card (ATM) facility
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Debit card & credit card (ATM) facility
Interpretation:
Now a days ATM facilities is one of the key banking service to the customers. In this point 0% of Exim Bank customers and 20% of Standard Chartered Bank customers said excellent, 10% of EB customers and 35% of SCB customers state good, 20% of EB customers and 30% of SCB customers said average, 30% of EB customers and 10% of SCB customers declare poor and 40% of EB customers and 5% of SCB customers are said very poor.
Low service charge facility
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Low service charge facility
Interpretation:
In this graph disclose that 15% of Exim Bank customers and 5% of Standard Chartered Bank customers declare excellent in terms of low service charge facility, 30% of EB customers and 20% of SCB customers are said good, 40% of EB customers and 25% of SCB customers are state average, 10% of EB customers and 35% of SCB customers are says poor and 5% of EB customers and 15% of SCB customers are declare they are very poor at this subject.
Online banking facility
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Online banking facility
Interpretation:
Recently most of the banks provide the minimum level of online banking facility to the customers. . The graph expresses that 5% of Exim Bank customers and 15% of Standard Chartered Bank customers state that they are excellent at this point. 15% of EB customers and 30% of SCB customers are says good, 25% of EB customers and 40% of SCB customers are says average, 35% of EB customers and 10% of SCB customers are state poor and 20% of Exim Bank customers and 5% of Standard Chartered Bank customers state that they are very poor at this position.
Advertisement & Promotional activities
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Advertisement & Promotional activities
Interpretation:
To inform and attract the customer’s advertisement and promotional activities is very much effective. In this point 5% of Exim Bank customers and 10% of Standard Chartered Bank customers said excellent, 15% of EB customers and 20% of SCB customers state good, 30% of EB customers and 40% of SCB customers said average, 35% of EB customers and 20% of SCB customers declare poor and 15% of EB customers and 10% of SCB customers are said very poor.
Wide range of service facility
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Wide range of service facility
Interpretation:
Now a day every bank tries to provide extensive service to the customers to make them happier. The graph shows that 15% of Exim Bank customers and 20% of Standard Chartered Bank customers declare excellent in terms of wide range of service, 35% of EB customers and 45% of SCB customers are said good, 40% of EB customers and 30% of SCB customers are state average, 10% of EB customers and 5% of SCB customers are says poor and none of customers said very poor.
Overall satisfaction level in order to banking performances
EXIM SCB
Criteria No of respondent percentage Criteria No of respondent percentage
Overall satisfaction level in order to banking performances
Interpretation:
The overall performance of Exim Bank Ltd and Standard Chartered Bank Ltd are ranked by the customers. The graph expresses that 20% of Exim Bank customers and 20% of Standard Chartered Bank customers state that customers feel excellent at satisfactory level. 40% of EB customers and 30% of SCB customers are says good, 30% of EB customers and 35% of SCB customers are says average, 10% of EB customers and 20% of SCB customers are state poor and 0% of Exim Bank customers and 5% of Standard Chartered Bank customers state that they are very poor at this position.
PART TWO
CHAPTER 03
MAJOR FINDINGS
2.3.1 Findings:
• There are no Automated Teller Machine (ATM) facilities in Exim bank than that of the standard chartered bank. SCB has a large ATM network all over the Bangladesh as well as outside of Bangladesh. SCB also provides debit card and credit card facility to its customers. But Exim bank recently introduced Islamic credit card.
• Exim bank provides all the Islamic facilities through their each banking sectors. So under the sariah banking system they get preferences from the Islamic minded clients. Where the SCB provides services according to the conventional banking system. But recently they introduce a new segment which provides Islamic banking facilities to the customers.
• In the technical site of banking activities SCB has far better position than that of the Exim bank. SCB provides services under the modern banking method. For e.g.: employees of Exim bank couldn’t posting too many data or information at a time from two computers, which is very much disturbing for the employees.
• Exim bank has a lower service charge compare to the SCB service charge. For e.g.: when cheques are dishonored by the bank for the insufficient fund or signature differ then Exim bank charges only 58 taka where SCB charges four or five times higher than that of Exim bank. In case of hidden cost SCB has higher hidden cost where Exim doesn’t have that type of cost.
• In foreign exchange department it is required to communicate with foreign banks frequently and quickly. To make the process easily modern communication media for an example e-mail, fax and win fax, Internet etc. need to be used. But the Exim Bank has not much practice of using these media.
• Advertising and promotional activities is one of the most effective tools used by any organization to attract and inform the customers. Both the banks don’t that much emphasis on advertising and promotional activities. But comparatively SCB has more advertising and promotional activities than the Exim bank.
• In case of opening an account on Exim Bank Ltd some big parties are come to open accounts with the high official’s reference of the bank. They do not submit all papers that required opening an account and in future they do not feel any urge to submit those papers, but already they become accounts holders. I think in this case the authority is violating the rule. Standard Chartered Bank Ltd doesn’t have these types of problem.
• Customer place more emphasis on significant factors like a banks reputation, friendliness of bank personnel, and availability in several convenient locations both of the banks.
• Including to some client’s opinion introducer is one of the problems to open an account in Exim Bank. If a person who is new of the city or area wants to open an account, it is a problem for him/her to arrange an introducer of SB or CD accounts holder.
• According to the service quality it is found that standard chartered bank’s service quality is better than that of the Exim bank.
• SCB has good online banking system compare to the Exim bank. The Branch of EXIM bank Limited has to transfer data from Branch to Branch and Branch to head office by using floppy disk through the peon because there is no other system available here but I think that it is not a good system and also it is not safe. But in SCB they do these types of activities through intranet facility.
• Cash payment procedure of Exim Bank Ltd follows traditional method, because they don’t provide ATM facility to their customer to withdraw cash money. So customers need to write check for withdrawing money. On the other hand Standard Chartered Bank has a wide range of ATM services by which the customers can easily withdraw cash according to their needs and demands. So they can make themselves satisfied by continuing their account with SCB.
• Lack of variety of service is also drawback of the general banking area of the EXIM Bank Bangladesh Limited. The bank provides only limited number of services to the clients. As a result the bank is falling behind in competition compare with the SCB or other banks.
PART TWO
CHAPTER 04
RECOMMENDATION
&
CONCLUSION
2.4.1 Recommendation:
Advanced technology:
Exim Bank should be more emphasis on computerized system each sectors of banking activities. They still use back dated computer program and banking software for doing their daily activities. That’s why they need to use modern technological equipments, latest computer programs and software’s, tools of management information system (MIS) in order doing banking activities rapidly.
Expand the product line
Exim bank has few numbers of product categories for their customers. They don’t have diversified product line to attract the different types of customers. As a result they should be introducing different types of accounts like, children accounts, women accounts, and millionaire scheme. They can also introducing verity of loans to the customers like car loan, marriage loan, and travel loan and so on. Beside that they should be targeted different market to do business in the competitive banking world.
Improvement of online banking system
Exim Bank Ltd online banking system is not so developed so far. All the inward and outward cheques information and others data has to transfer from one branches to head office by using floppy disk, which is not acceptable. All the banking data or information should be transfers through online system. Exim bank also needs to use high speed online and networking system for transferring data from one branch to another branch for doing their banking activities.
Card facility
Exim bank should be introducing the Automated Teller Machine (ATM) facility all over the Bangladesh as early as possible. Right now most of the banks provide different types of debit card, credit card and ATM facility to the customers keep them happy. At first they can established the ATM booth at Dhaka city, after that they can expand that others city of Bangladesh for capture the banking market.
Advertisement and promotional activities
Exim bank should be concern about the advertisement and promotional activities. They don’t appearance so much electronic and news advertisement. As a result our Bangladeshi customers couldn’t recognize Exim bank that much. Right now they have to present themselves in order to television advertisement, FM radio station, and news papers advertisement and so on. Exim bank also can arrange the different types of social activities or sponsorship for any events for promote their bank.
Beside the above it may conclude the following suggestion and recommendation
• Both of the banks should strong their customer relationship management. It helps the bank to recognize the customers’ needs and demands, their thinking and ideas, recent status and so on.
• Exim bank should increase their wide range of services.
• SCB need to reduce its service charges. Hidden cost should be removed.
• Exim bank should increase the branches all over the Bangladesh.
• Standard Chartered Bank and Exim bank needs to train their all employees about the modern banking activities becoming them more effective and efficient.
• Exim bank should target the non Muslim customers through their other services.
• Exim bank should use one to one marketing policy to capture the market.
• SCB should increase their cash counter space as well as the number of cash counters.
• The bank should attempt to enter the share market by issuing shares to capitalize more money and invest thereafter by expanding the number of branches around the city.
2.4.2 Conclusion
Lots of new commercial bank has been established in last few years and these banks have made this banking sector very competitive. So, now banks have to organize their operation and do their operations according to the need of the market. Banking sectors no more depend on a traditional method of banking. In this competitive world this sector has trenched its wings wide enough to cover any kind of financial services anywhere in this world. The major task for banks, to survive in this competitive environment is by managing its assets and liabilities in an efficient way.
As an internee student in EXIM Bank Bangladesh Limited at karwan Bazar Branch, Dhaka I have truly enjoyed my internship from the learning and experience viewpoint I am confident that three month internship program at EXIM Bank Bangladesh Limited will definitely help me to realize career in the job market. It’s a new branch one and half year only but I think it would be able to increase the wealth because of the location.
During the course of my practical orientation I have tried to learn the practical banking to realize my theoretical knowledge, what I have gathered and going to acquire from various courses. It is great pleasure for me to have practical exposure of EXIM Bank Limited, because without practical exposure it couldn’t be possible for me to compare the theory with practice.
So in conclusion it can be said that every organization has its positive as well as negatives and in case of EXIM Bank Bangladesh Limited existence of the later one is less then the earlier one and as the management is determined to reach the pick of success it seems that in near future the negatives will be eliminated. Five years is a very short span of time and the organization, which can establish itself as one of the most reputed private commercial Bank in the country within this short period deserves special credit and with their able leaders EXIM Bank will reach the highest level of success very shortly. I wish the bank all success prosperity in their field.
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