Kathmandu University School of Management Kathmandu College of Management
Internship Report As part of the requirement for BBA Program
Course Code: RIS 401
Internship Employer Prime Commercial Bank Ltd., New Baneshwor Branch Work Supervisor: Mr. Geha Ranjan Joshi
New Baneshwor, Kathmandu
Intern Kushal Sundar Shrestha, Date: 27 July 2009. SIGNATURE PAGE I/We certify that I/We have read this Internship report. In my/our opinion, it is satisfactory in scope and quality as a project in partial fulfillment for the undergraduate course of ‘Internship’ held at the Kathmandu College of Management. 1
Comments _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ ___________________________________
_____________________ (Project Evaluator)
COPYRIGHT © 2009 All rights reserved by the authors. No part of this report may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical,
2
photocopying, recoding, or otherwise, without the prior written permission from the author. Date: July 27, 2009 Kathmandu College of Management (Affiliated to Kathmandu University)
DISCLAIMER The author of the report is not responsible or liable legally, or by any other means against the result of the report. Any consequent decision based on this report shall not make the author responsible. 3
The view expressed in this report is as per the finding and research undertaken. These do not reflect the single rule of thumb nor is endorsed by the College. However, every precaution has been taken to make the repot outstanding and correct. The author assumes no responsibility for error or omission.
DECLARATION I, the undersigned declare that this project entitled is a result of my own study/ research carried out in the year 2009. It has not been previously submitted to any other university or any other examination (s).
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Signature
_______________ Kushal Sundar Shrestha BBA (2005-2009) Kathmandu College of Management
ACKNOWLEDGEMENT I would like to express sincere gratitude towards Mr. Sanjeev Manandhar (General Manager) at Prime Commercial Bank Ltd., New Baneshwor who gave me the opportunity to work in the Bank. I would also like to forward my gratitude towards Mr. Geha Ranjan Joshi, (Relationship Manager), Mrs. Anupa Joshi (Customer Service Department), to Mrs. Kiran Siwakoti (Teller Department), Mrs. Pratikshya K.C (Assistant) Customer 5
Service Department, Mr. Bikrant Rana (Assistant) Loan Department who guided me, throughout my Internship program. My special thanks go to Ms. Sajana Shrestha (Personal Relationship Manager) who guided me for Deposit Marketing. I gratify towards Prime Commercial Bank Ltd. And all the members of the organization for their kind support. At my successful completion of the internship, I would like to thank Mr. Amit Bajracharya, (Loan Department) Head Office for instructing me and providing the essential material for making this report. Likewise I am also thankful to Mr. Lakhpa Gelu
Sherpa
(Internship
Coordinator)
KCM
and
Mr.
Arun
Bajracharya
(Undergraduate Coordinator) KU for their valuable suggestion and concepts. My sincere thanks go to Mr. Sujan Karki and Mr. Sarthak Karki, BBA Graduates of KCM for their motivation, support and valuable suggestion from time to time. Lastly, I would also like to thank Mr. Bishnu Raj Adhikari, Principal, KCM and Mr. Vinay Sharma, Director, KCM for guiding and helping me in each and every stage of the BBA course and the Internship Study and all the faculty members at KCM without whose help this report would not have been possible. Sincerely, Kushal Sundar Shrestha
Executive Summary Prime Commercial Bank is the Nepal 21st commercial bank; with a vision of touching the life of each and every individuals and organizations by providing quality banking services at a competitive pricing. PCBL was registered in the Office of the Company Registrar Kathmandu under the Ministry of Industry, Commerce and Supply, on 2064/04/01 B.S. in accordance with the Company Act 2063 of Nepal. 6
The bank is concerned with rendering quick and prompt banking services to the customers, to make a qualitative lending in the Nepalese market to support all kinds of businesses including personal needs of the Nepalese citizens. There are around one hundred and seventy staff members, who are working for PCBL. The bank focuses on providing customer service and extends personalized service to gain confidence of the customers who are still deprived of basic banking service. Throughout my Internship tenure, I had worked under Customer Service Department and Deposit Marketing at New Baneshwor Branch. I choose to perform my internship at banking industry to better understand the role of banks in the economy. Through the environment analysis, banking industry is only one of the major industries, which is able to place as a strong investment sector despite of large competitor base. If we look after the current scenario and market then, about the banking scenario of Nepal there are all together around twenty five, commercial bank in Nepal, were all these commercial banks are running on profit compared to other industries such as textile, carpets, tire industry. Despite of the fact, that Nepal is developing nation with primitive market structure, every commercial bank are capable of turning profit out of every activities that they make. Internship at PCBL has been one of the most significant internship experience that I have ever has, as this internship opportunity has helped me to analyze my internal strength and weakness and developed me professionally. With continuous hard work and effort, from Deposit marketing I was able to develop clients base of 118 accounts and deposit base of Rs1.29 million, within ten weeks period. This experience taught me importance of personal relationship and consequently, helped to develop interpersonal relationship skills.
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Table of contents
8
SIGNATURE PAGE COPYRIGHT DISCLAIMER ACKNOWLEDGEMENT EXECUTIVE SUMMARY TABLE OF CONTENTS LIST OF TABLES LIST OF FIGURES LIST OF ACRONYMS
Part One Operational Duty Section I 1. Background 2. Objectives of internship 3. Introduction of the Prime Commercial Bank Limited
Section II 1. Roles and Jobs performed in Internship 2. Projects carried out during internship period 3. Strengths and weaknesses in carrying out projects
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Section III 1. Roles of departmental heads and intern’s supervisors 2. Lessons learned from co-workers
Section IV 1. Initial and end expectations/perceptions 2. Skills and knowledge acquired in internship 3. Impact of skills and knowledge in intern’s future decision making
Part Two Specific Assignment undertaken Section I 1. Brief background of the Deposit Marketing Assignment. 2. Objectives of the Deposit Marketing. 3. Scope of the Deposit Marketing.
Section II 1. Review of related Literature
Section III 1. Conceptual framework
Section IV 1. The methodology and procedures Deposit Marketing
Section V 1. Observation of the Project
Section VI 1. Conclusions of Deposit Marketing 2. Recommendations of Deposit Marketing
10
Reflections Conclusion Bibliography Appendix I Appendix II Appendix III 11
About the Author
12
List of Tables 1. Table 1: Internship Objectives 2.
Table 2: Development of Banking in Nepal
3. Table 3: Capital Structure 4. Table 4: Board of Directors 5. Table 5: Bank Products and Services 6. Table 6: Role of PCBL to Nepalese Economy 7. Table 7: Competitor Analysis in terms of Current Position 8. Table 8: Competitor Analysis in terms of Products and Service Offered 9. Table 9: Strength and Weakness 10. Table 10: Learning Experience 11. Table 11: Skills Acquired at Internship 12. Table 12: Skills required for Deposit Marketing 13. Table 13: Numbers and Types of Financial in Nepal 14. Table 14: About Commercial Bank of Nepal 15. Table 15: Products and Service Promoted during Deposit Marketing 16. Table 16: Interest Rate Structure of Commercial Banks 13
17. Table 17: Composition of Deposit 18. Table 18: Procedure of Deposit Marketing 19. Table 19: Observation in Deposit Marketing
List of Figures
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1. Figure 1: Capital Structure of the Bank 2. Figure 2: Board of Directors 3. Figure 3: Organization Structure of Prime Commercial Bank Ltd. 4. Figure 4: Organizational Structure of PCBL, New Baneshwor Branch 5. Figure 5: Client Base Developed During Deposit Marketing 6. Figure 6: Organization structure of PCBL, New Baneshwor Branch
List of Acronyms PCBL:
Prime Commercial Bank Limited.
CSD:
Customer Service Department. 15
NABIL:
Nepal Arab Bank Limited.
I.P.O:
Initial Public Offering
MIS:
Management Information System
BOD:
Board of Directors
PABSON:
Private Association of Boarding Schools of Nepal
CEO:
Chief Executive Officer
AIC:
Agriculture Inputs Corporations
NOC:
Nepal Oil Corporations
NIDC:
Nepal Industrial Development Corporation
HR:
Human Resource
FNCCI:
Federation of Nepalese Chamber of Commerce and Industries
GM:
General Manager
FD:
Fixed Deposit
CA:
Current Account
CC:
Call Account
SSA:
Staff Salary Account
OD:
Over draft
PG:
Prime Gold Saving Account
PS:
Prime Saving Account
BOA:
Bank of Asia
SCT:
Smart Card Technology
ATM:
Automated Teller Machine
DGM:
Deputy General Manager
SWIFT:
Society for Worldwide Interbank Financial Telecommunication
GLD:
Gold Loan Department
PGC:
Prime Gold Certificate
PGL:
Prime Gold Loan
KCM:
Kathmandu College of Management
VOITH:
Vaidya Organization of International Trading House
NRB:
Nepal Rastriya Bank
MNC:
Multi National Corporations
LC:
Letter of Credit 16
AL:
Auto Loan
TQM:
Total Quality Management
Part One OPERATIONAL DUTY SECTION I 1. Background
17
Prime Commercial Bank Limited (PCBL) arrived at banking industry as the 21st Commercial Bank in the country with the mission of "Banking Service to Everyone". PCBL provides quality banking services, along with aim to touch the life of each and every individual customer. PCBL has highly focused on customized service and competitive pricing, to provide extended valued service at competitive pricing. PCBL has developed marketing strategy, for being positioned as personal bank when customer hunts for financial service from a financial institution. The concept of PCBL emerged among the prominent business personnel and professionals from diversified area with a prime objective of providing 'Banking Services to Everyone' in the country, as they believes, large number of Nepalese population is still deprived of basic banking services. The bank, started its banking function, with two other new competitor banks, even though bank has proved its superiority and achievement larger than its competitors, in terms of market position, deposit, clients base. The bank has endeavored to position itself as technology savvy, for adjoining the customer’s requirement for customized service. PCBL is highly alarmed to experiment the concept of Total Quality Management and Kaizen, to enhance its service for more customer, along with vision to developing long term relationship. PCBL products and services have been designed to cater requirements of the market, hence the bank is always ahead in experimenting new concepts of products, service, and constantly seeking opportunity to provide extended valued service to its customer to make difference in the banking industry of Nepal.
2. Objectives and Goals of Internship As per the Curriculum of Kathmandu University, I had a wonderful opportunity of getting a real life working experience in an organization, which would add value to me as a student. Before starting my Internship at Prime Commercial Bank Limited, New Baneshwor branch, I had thoughtfully planned my objectives, and developed strategy to achieve it 18
during my internship tenure. Being student of Management, I have completed various courses, on understanding various managerial aspects; hence in order to experience those managerial aspects after understanding in the classes, an Internship experience was necessity. I have attached essay on my internship goal at the appendix II, which conveys brief idea about my internship goal. I have developed certain internship objectives and expressed it in quantitative terms, which I expect to achieve at the end of my internship; these objects are explained as below. Table 1: Internship Objectives a. To gain experience on Deposit marketing in Door to Door Marketing and Personal Selling. b. To achieve institutional deposit of Rs.1 crore (Rs. 10 millions) above. Internship Objectives c. To have client base more than 100 clients d. To learn about Customer Service/ Relation Mgmt such as i. Attending Customer. ii. Managing Clients Information System. iii. Related Operations through Customer Service Department. a. To commit 40% of Internship time at learning above duty.
Achievement These goals where achieve to a greater extent. I acknowledge that these objectives were achieved through my operations, time management, sincerity, personal efforts and hard work that I have devoted, during assigned internship period.
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During this internship period, I bought total institutional deposit of Rs. 1.29 crores (Rs. 12.9 million) within ten weeks period of time through deposit marketing from total 118 clients both public and corporate clients. At the same time, I learnt various operational work of customer service department, such as attending customer, managing clients’ information system and many more. Considerably, I was able to spend 40% of my internship period at Customer Service Department as, in order to conclude Deposit marketing in good quantitative figures as planned. Spending 60% of my time at Deposit Marketing and 40% of my time at Customer Service Department (CSD) is highly complementary with Deposit Marketing and Customer Service Department, in order to achieve targeted objective from deposit marketing. Prior to going for Deposit Marketing one needs to understand the Banks offered products and service, along with clients requirement and their nature. Customer Service Department also helped to track clients and develop personal relationship with clients. Synergy of Customer Service Department and Deposit Marketing has helped me to achieve above desire objective. I believe this experience has added tremendous value in me in various aspects, which would help me in my future careers and higher studies.
1. Introduction of the Prime Commercial Bank Limited.
Brief History of Banking in Nepal The history of banking in Nepal dates back to the 14th Century. Milestones in development of today’s modern banks are captured in the table below:
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Table 2: Development of Banking in Nepal 14th Century 1938 B.S.
Introduction of "Tankadhari" Establishment of "Tejarath Adda"
1994 B.S.
Establishment of Nepal Bank Ltd.
2013 B.S.
Establishment of Nepal Rastra Bank
2013 B.S.
Industrial development centre
2016 B.S.
Conversion of Industrial development center into Nepal Industrial Development Corporation. (NIDC)
2022 B.S
Establishment of Rastriya Banijya Bank
2024 B.S.
Establishment of Agricultural Development Bank.
2041B.S.
Nepal Arab Bank Ltd. (NABIL Bank)
2042 B.S.
Nepal Investment Bank Ltd.
2043 B.S.
Nepal Grind lays Bank (Standard Chartered Bank)
2049 B.S.
Himalayan Bank Ltd.
2064 B.S.
Prime Commercial Bank Ltd.
Introduction The Prime Commercial Bank Limited, the 21st commercial bank registered in the Office of Company Registrar Kathmandu under the Ministry of Industry, Commerce and Supply, on 2064/04/01 B.S. in accordance with the Company Act 2063 of Nepal. The bank got its certificate of commencement as financial institution of Class “A” on 2064/05/30 B.S. under the Nepal Rastra Bank Act 2058, Banking and Financial Institution Act 2063 and other applicable Acts of government of Nepal. The bank
21
commenced its operations as financial institution on 2064/06/07 B.S. corresponding English date September 24, 2007. The Bank has been established by prominent business personnel and professionals from diversified areas with a prime objective of providing 'Banking Services to Everyone' in the country where still large number of population are deprived of Banking Services. The head office of the PCBL is situated in New Road Kathmandu and has 4 branches in the valley including the head office and three other branches outside the valley which makes a total of 7 branches at present, with new upcoming branches throughout the country. PCBL, started its banking service to the public , with two other banks , where PCBL has successfully able to better position itself in the market, in compared to other banks, in short period of time.
CAPITAL STRUCTURE The authorized capital of the bank is NPR 1500 million, of which 1000 million is the issued capital and the total paid up capital of the bank at present is 700 million. The promoter share constitute the major portion of the bank share which stands up to 70% of the total capital structure and remaining 30% will be held by the general public for which the bank launched I.P.O on May 24,2009. The Bank had the highest paid up capital from the promoters among all the commercial banks in the country at the time of its commencement.
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Table: 3 Capital Structure S. No
PARTICULARS
AMOUNT (NPR)
1
Authorized Capital
1500
2
Issued Capital
1000
3
Paid Up Capital
700
Figure 1: Capital Structure of the Bank
The above Figure 1 and Table 3 explain the Capital Structure of Prime Commercial Bank Limited.
BANK VISIONS To position itself as a leading and well- established banking institution in its kind and establish it as 'Bank with Difference'.
MISSION a. To make a qualitative lending in the Nepalese market to support all kinds of businesses including personal needs of the Nepalese citizens. b. To render quick and prompt banking services to the customers. c. To involve in aggressive marketing and business promotions to promote the banking products and awareness among the citizens where the country has large number of citizen who are still deprived from the banking services d. To introduce new banking services and products. e. To run the institution with an efficient and professional management;
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f. To develop a good corporate governance and ensure adherence to the Central Bank Directives as well as prevailing rules and regulations; g. To develop an effective internal control system, Management Information System (MIS) and compliance.
OBJECTIVE OF THE BANK The main objectives of the bank in accordance with the Nepal Rastra Bank Act 2058, Banking and Financial Institution Act 2063 and Company Act 2063 of Nepal are as follows: a. To provide world class and reliable banking services provided safeguarding the interest of the shareholder and the depositors are taken care off. b. To uplift the Nepalese Economy by investing in the agricultural, industrial, service, and other commercial sectors and providing the required financial assistance both from the internal and external sources. c. Maximum utilization of available skills, labors and capital by setting up commercial activities both in rural and urban Nepal and assisting the government to manage these industries for poverty alleviation. d. Acting as a financial intermediary and collecting the scattered funds around the economy and bring it into use for institutional investment purposes.
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e. The bank will endeavor to establish itself as technology savvy, customer friendly and try to maintain good relationship with its customers.
VALUES a. The bank focuses on customer service and extends personalized service to gain confidence of the customers; b. The professional management team of the bank upholds a strong belief on team work to deliver extraordinary result to the organization;
BOARD OF DIRECTORS AND MANAGEMENT TEAM The bank focuses more on leadership skills and working in teams capabilities in its management team. These two factors are considered as key success factors for any organization. The rising trend of globalization and recent management turnover in the leading bank of the world owing to recession has started demanding dedicated professionals and PCBL is no exception to it. The management team should not only be able to compete domestically, but also have an international exposure as at present is 21st century world, with numerous opportunities to be exploited, as well as sustain the great degree of rising competition in the sector. PCBL management team comprises of experienced professionals with years of experiences in different commercial bank and other financial sector of the Nepal. The management team of the bank is committed towards the uplift men of the bank in the height of success through customer satisfaction. The professionals comprising of present Boards of Directors (BOD’s) and the management teams are as follows
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Board of Directors Table 4: Board of Director
26
NAME OF THE
DESIGNATION
DIRECTOR
EXPERIENCES
•
Past President Hotel Association of Nepal.
Bajracharya
•
Experience in the Banking sector for past
Mr. Uttam Narayan Director
•
30 years. 32 years of experience in Agricultural
Mr. Narendra
Chairman
Shrestha
Development Bank. •
General Manager in NIDC Capital Market for 2 years.
•
General Manager Cottage and Handicraft
Mr. Rajendra Das Director
•
Industry for 1 Year. 30 years of experience in industry and
Shrestha Mr.
•
trading house. 4 years of
Shyam Director
Bahadur Shrestha
experience
in
insurance
companies •
20 years of experience in Pharmaceutical
Mr. Uday Mohan Director
•
Industry 2 years of experience in Banking Sector
Shrestha Mr.
• •
25 years of experience in Hotel Industry President for PABSON for 6 years
•
30 years of experience in educational
Umesh Director
Shrestha
institutions.
Above table 4 explains about the brief background about the Board of Directors of Prime Commercial Bank Limited.
Structure of Board of Directors 27
Figure 2: Board of Directors
Above figures shows the hierarchy of Board of Directors of Prime Commercial Bank Limited.
MANAGEMENT TEAM Mr. Narayan Das Manandhar, Chief Executive Officer Mr. Narayan Das Manandhar holds Master Degree in Commerce. He had his overseas studies on financial management in United Kingdom. He has achieved remarkable portfolio in his working career. He has altogether 34 years of working experience in various reputed Financial Institutions. He has utilized his skills and shared his knowledge as a Chief Executive Officer (CEO) in Lumbini Bank and Nepal Bangladesh Bank, and contributed valuable time at Rastriya Banijya Bank as an Executive Director. He has also worked as Deputy General Manager in Agriculture Development Bank Nepal. He has also shared his experience in Rice Export Company as General Manager, FAO project as Development Consultant, Rastriya Chamal Karkhana, Land Reform and Savings Corporation. To his credit, he also had the experience of working as member of various committees constituted by the government of Nepal and also as Board of Director in various institutions Agriculture Inputs Corporation (AIC), Nepal Oil Corporation (NOC). He had attended to various international seminars conducted by various international agencies such as APO, FAO, UN, and the US Government. 28
Mr. Sanjeev Manandhar, General Manager Mr. Sanjeev Manandhar is a young professional having academic background of Chartered Accountancy with graduation in science. He has gained 10 years of working experience in auditing, finance and banking field. He has worked, as a member of Management Team appointed jointly by World Bank and Central Bank for restructuring purpose, in the position of Chief Operating Officer and Chief of Main Branch Office in Rastriya Banijya Bank for four and half years. He has been a member of Board of Directors of Nepal Investment Bank Ltd and Nepal Industrial Development Corporation (NIDC) Capital Market. He has also worked as a Chief Internal Auditor of Nepal Indosuez Bank (a member of Credit Agricole Indosuez, France) which is presently a Nepal Investment Bank. He has also an experience as a Finance Manager in Nepal Telecommunication Corporation for two years and also shared his knowledge and skills as audit manager at CSC and Co (chartered accountant firm). He has gained experience as a lecturer in The Institute of Chartered Accountant of Nepal as well. Mr. Moti Kaji Tuladhar, Deputy General Manager (Corporate) Mr. Tuladhar holds an academic qualification of Master in Public Administration. He has shown his working proficiency in different financial institutions and other organizations. He has worked as Assistant General Manager in Global Bank Ltd. He has also worked as an Executive Manager in Bank of Kathmandu for 12 years and as Assistant Manager in Nabil Bank Ltd for 10 years. He has working experience in Indian Embassy for five years and in Hotel Soaltee Oberoi for 5 and half year as well. Mr. Bhai Raja Tuladhar, Deputy General Manager (Operations) Mr. Bhai Raja Tuladhar holds Master Degree in Business Administration and has gained 19 years of working experience in banking sector. He has working experience of 12 years as an Assistant Manager to Assistant General Manager, at Nepal Bangladesh Bank. He has also worked for 7 years in Agriculture Development Bank, as an Account Assistant to Branch Manager. He has received International Banking Course Training, conducted by State Bank of Pakistan and also attended various banking training programs and seminars. 29
Mr. Bhusan Shrestha, Head of Credit Mr. Shrestha has an academic background of Master in Business Administration with specialization in Marketing Research. He has shared his knowledge and skills in different fields. He has worked for seven years in Nepal Investment Bank Ltd and was Deputy Head of Credit Department of that Bank. He has also worked as Teacher/ Accountant in Budhanilkantha Primary School, as a Marketing/ Sales Manager in Shrestha Pharmaceuticals.
Mr. Suresh Man Singh, Head of Marketing Mr. Singh has completed Executive-Masters Degree in Business Administration. He has worked as Marketing and Operation Manager in Global Bank Ltd. He has also shared his knowledge & expertise in various Department/ Branches of Bank of Kathmandu viz. Branch Manager of Thamel , Nepalgunj & New Road Branch, as a Manager in Branch Development & Control, Personnel & Administration (Accounts additional) & Central Logistics (HR additional), as an Officer in operation department, as a Supervisor in remittance department of the same bank. He has also worked as an Assistant in export L/C & accounts department and as a Supervisor in Remittance department of Nabil Bank. Mr. Sujan Pradhan, Head of Operations Mr. Pradhan has an academic qualification of Master in Business Administration from Manila, Philippines. He has worked as a head of operations and also handled ATM Department in Nepal Investment Bank (Former Credit Agricole Indosuez Bank Ltd.). He holds remarkable working experience in Accounts Department, Foreign Exchange & Treasury Department at the same bank. He has taken various training programs of International Banking from Japan, International Trade from London and Foreign Exchange & Money Markets from Singapore.
Mrs. Anita Pradhan, Head of HR and Administration 30
Mrs. Anita Pradhan holds Master Degree in Business Administration. She has experience of handling various portfolios in different Financial Institutions. She worked as a branch Manager of Pulchwok Branch in Nepal Credit and Commerce Bank. She has worked as a Researcher and Analyst in NIDC Capital Market Ltd., as a Manager in Hisef finance Ltd. and as a Chief of Department in Marketing, Personnel/ General of Nepal Credit & Commerce Bank Ltd. She has collected various trainings in Presentation and Negotiation skill from British Council & FNCCI, Management of Finance Companies from MAC Consultants, Writing for managers from British Council, Corporate Financial Management by Higher Education Development Co-operatives Ltd., Fund Management from UTI Group of India, Project Appraisal from NRB Training Center, Mutual Fund Scheme and Financing from City Bank and other banking activities conducted by NRB. Mr. Manoj Khadka, Head of Trade Finance Mr. Manoj Khadka is a holder of Master degree in Business Administration. He has worked as an Officer-In-Charge of International Trade Department in Bank of Kathmandu Limited. He has also worked as a Branch Manager of Pokhara, New Road, and Thamel Branch of the same Bank. He has participated in training/workshop/seminars from International Trade Financing organized by MAC, International Banking organized by SCB, Trade Financing conducted by NRB, Leadership for Business Excellence by Institute of Banking Management, Pune (India), Enhancing Competitiveness through Total Quality Management by NGCCI, MAN, and NQPCN. He has enhanced his career by gaining additional working experiences as a lecturer from Pokhara College of Technology, conducted various in-house training programs on Import & Export LC, Local & International Guarantees, Banking operations at Bank of Kathmandu.
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Organizational Structure of Prime Commercial Bank Limited Figure 3: Organization Structure of Prime Commercial Bank Ltd.
The above figure explains the organization structure of Prime Commercial Bank Limited.
Organizational Structure of Prime Commercial Bank, New Baneshwor Branch Figure 4: Organizational Structure of PCBL, New Baneshwor Branch
The above figure 4 explains the Organizational Structure of Prime Commercial Bank, New Baneshwor Branch.
BANK PRODUCTS AND SERVICES 32
The products and services of PCBL have been designed in a unique manner which focuses on catering all the needs of the target customers. The bank aims on being chosen as the first bank, to satisfy all the banking needs of the customers. The bank ensures its clients with the positive attitude towards the client’s needs and strong mutual relationship, the bank will be able to nurture the clients business and dedicate itself towards the clients. Table 5: Bank Products and Services S.NO
PARTICULARS
MINIMUM
RATE
BALANCE (Rs)
INTEREST
OF
BASIS
OF
CALCULATION
SAVINGS SAVING DEPOSITS 1 Public Savings
100.00
4%
Monthly
Min
2
1,000.00
4%
Balance Monthly
Min
4.25% 4.50% 6% 3% - 7%
Balance Daily Balance Daily Balance Daily Balance Daily Balance
3 4 5 6
Normal Savings Privilege Savings Prime Savings Prime Gold Savings Call Deposit
Savings FIXED DEPOSITS 1 Up to 1 Year 2 1 Year - 2 Year 3 2 Years and Above
Not Required 50,000.00 100,000.00 Negotiable
Negotiable 6.75% Negotiable 7.00% Negotiable 7.25% BORROWINGS
BUSINESS LOANS 1 Overdraft As per the needs. 2 Working Capital As per the needs. 3
Loan Short
4 5 6
Demand Loan Term Loan Export Credit Hire Purchase Loan
term
/ As per the needs. As per the needs. As per the needs. As per the needs.
11% - 12% 11%
Daily Balance Daily Balance
11%
Daily Balance
11% - 12% 10% 10.50% 11.50%
33
Daily Balance Daily Balance Daily Balance
Daily Balance Daily Balance - Daily Balance
7
Loan Against FDR
As per the needs.
FDR Rate + Daily Balance
8
Loan Against USD As per the needs.
2% 7.50%
9 10
Pledge Trust Receipt Loan As per the needs. Loan Against As per the needs.
10% 12%
Daily Balance Daily Balance
11 12
Government Bonds Loan Against Share SME Loan
10% 11.50%
Daily Balance Daily Balance
11%
Daily Balance
12% 11.50% 11% - 12% 11% 11% - 11.5%
Daily Balance Daily Balance Daily Balance Daily Balance Daily Balance
As per the needs. As per the needs.
CONSUMER LOAN 1 Loan Against Gold As per the need 2 3 4 5 6
and Silver Mortgage Loan Professional Loan Equipment Loan Education Loan Housing Loan
As per the need As per the need As per the need As per the need As per the need
Daily Balance
Along with above mentioned products of the bank the PCBL also provides complimentary services such as Free ATM cum Debit Card, Free SMS Banking and Free E- Banking to most of its products for extended facilities. In order to provide the ATM and debit card services to the clients PCBL have tied up with Smart Card Technologies (SCT Network) which have the most number of outlets across the country and accepted almost all the parts of the country.
Contribution of Prime Commercial Bank Limited to the Economy Commercial banks can be defined as organizations whose principal operations are concerned with the accumulation of the temporarily idle money of the general public for the purpose of advancing to other for expenditure. Nepalese commercial banking industry is almost seven decades old dating way back to the first commercial bank Nepal Bank Limited. After the economic liberalization and deregulation in the 90s, Nepalese banking industry has seen some major developments 34
not only in terms of growth but also in terms of competition and efficiency. Nepalese banking industry is also one of the few industries in the country that was able to excel and grow even during the Maoist insurgency period. Nature of Nepalese commercial banking industry can be summed up in few key points. They are given below: a. Highly competitive in nature with as many as 26 commercial banks (and increasing) b. Customer base for almost all banks are almost the same-all banks target the same pocket c. Presence of Joint-venture banks, Private Banks and government banks d. Tight regulation by Nepal Rastra Bank (NRB) in most aspects of banking activities Likewise, talking about Prime Commercial Bank Limited, is a 21st commercial bank of Nepal, which is bright outcome of professional people from diversified background to provide “Banking Service to everyone” in the country, basically for mass population, who are deprived of Banking Services. PCBL commenced it commercial banking service from September 24, 2007, after obtaining license of operation for Commercial bank from Central bank. PCBL, started its banking service to the public , with two other banks , where PCBL has successfully able to better position itself in the market, in compared to other banks, in short period of time. Since its operation on September 2007, till date PCBL, has seven branches, including Head office at New Road, and has further plan for extending its banking service to various part of Nepal, where banking service aren’t available. Table 6: Role of PCBL to Nepalese Economy Roles of Prime Commercial Bank Limited to the Nepalese Economy
35
a. Loan for Economy Development b. Providing Service at minimal cost. c. Providing Innovative Products d. Increasing Competition Standards e. Sustainable Growth
a. Loan for Economy Development Prime Commercial Bank Limited is the 21st commercial bank in the Nepal. As new commercial bank, PCBL would provide lending facility to mass, which would help them for various investment opportunities, gradually uplifting their living standards. Equally PCBL would also provide lending facility, to the mass for other multiple development activities. b. Providing Service at minimal cost As a new commercial bank, PCBL is concerned for providing its banking service to the people at minimal cost to better position itself in the market, proper product placement, and also to extend it service to potential clients, which provide mutual benefit to people and economy and ultimately extending the market share of the bank. c. Providing Innovative Products In order to sustain in the competitive environment and to offer competitor advantage to the customer, PCBL has launched various innovative products in the market such as Prime Gold Loan (PGL), and Prime Gold Saving (PGS). With respect to market needs and wants, PCBL will be inclined towards market and develop more suitable innovative products and service. The bank is also tempted to experiment new concept for products and services. d. Increasing competition standards PCBL has entered into the market with better competitive strategies, vision, mission and objective so it can develop proper brand equity of PCBL in Nepalese market, which has finally increase the competition standards of overall banking sector in Nepal. 36
e. Sustainable growth If we go thorough current Nepalese Banking industry scenario, there are various other banks that have penetrated domestic market. In order to better position them self, other banks such as Sunrise Bank, Citizen and Bank of Asia (BOA) they are coming up with aggressive marketing with various schemes, which would look very much competitive. But PCBL has different approach, as they are coming up with the concept of sustainable growth, where they aren’t taking too much risk of the public money, which would position them self as more trust worthy bank, which isn’t ready to take risk with public deposit.
Competitor Analysis In the section, I have allocated three commercial banks, which is of same batch to PCBL, as it would be much more appropriate to compare with. Here I have thought of comparing four banks including PCBL. There three other banks are a. Sunrise Bank Limited, b. Citizen Bank Limited, c. Bank of Asia Limited, d. Prime Commercial Bank Limited.
Competitor Analysis can be performed in two methods a. In terms of Current Position Here the Current Position, of the banks is compared in term of Deposit, Loan Disbursement, Total Assets, Operating Profit and Net Profit. This helps to identify the current position of the bank and its performance. Unaudited Financial Results of Commercial Banks (Quarterly) As at Third Quarter (13/04/2009) of the Fiscal Year 2065/2066
Table 7: Competitor Analysis in terms of Current Position 37
CITIZENS20
PRIME2
SUNRISE22
BOA23
(Rs “000”)
(Rs “000”)1
(Rs “000”)
(Rs “000”)
10042465.
Deposit Loan Disbursed
9198236.0
9280870.4
6976211.0
9061876.7 10984614.
11277068.0
8
1
8776381.0
102349.0
146197.1
103962.4
50337.0
65212.0
93034.5
66157.9
32033.0
Total Assets Operating Profit Net Profit
9
6623192.0
7708345.6 6181553.0 12028593.
In the above table, name of the banks are properly ordered in terms ascending order. As Citizen Bank20 is 20th Commercial Bank of Nepal and BOA23 is 23rd Commercial Bank of Nepal. If we go through the above table, we can observe that Sunrise Bank has the largest share of deposit, where PCBL comes second in terms of deposit likewise, and Bank of Asia (BOA) shares lowest share of Deposit, within the batch. In terms of loan disbursement, PCBL has the largest share and BOA has the lowest among all four. In terms of Total Assets Sunrise has the highest Total Share and BOA has the lowest Total Assets. Similarly, in expression of Operating Profit and Net Profit, PCBL is far ahead than other three banks, within the batch.
b. In terms of Products and Service Offering. Generally, there are various ways in which the banks can be compared in terms of Products and service offered, but I have selects following criteria for comparing the banks calculating their efficiencies. Table 8: Competitor Analysis in terms of Products and Service Offered Interest Rate on Saving
CITIZENS20 PRIME21 SUNRISE22 BOA23 7.5% 6.00% 6.60% 6.00% 38
(Highest % offered On Daily Balance)
Fixed Deposit (Max Interest offered)
8.5%
7.25%
6.25%
8.00%
12.25%
11.00%
12.5%
11.00%
12.00%
11.00%
12.5%
12.00%
9.00%
11.00%
9.75%
14.00%
Overdraft
( Max Interest Charged)
Term Loan ( Max Interest Charged)
Housing Loan ( Min Interest Charged)
In the above table, name of the banks are properly ordered in terms ascending order. As Citizen Bank is 20th Commercial Bank of Nepal and BOA is 23rd Commercial Bank of Nepal. Looking at the above table, in terms of Interest rate Max offered at Saving Account Citizen Bank is offering 7.5 % on daily balance which is highest among the all four banks and BOA and PCBL are the banks to provide lowest interest rate on daily balance. In terms of Fixed Deposit Citizen Bank is offering 8.5% where as Sunrise Bank is offering lower interest rate of 6.25%. Differently, in terms of Loan, if observe through Overdraft Sunrise Bank is charging more than any other bank, among all four banks, which is 0.25% higher than Citizen Banks. In terms of Term Loan, Sunrise bank is charging 12.5% which is the highest among all four banks, where PCBL is charging the lowest interest of 11%. Finally in terms of Housing Loan, Citizen bank is charging lowest interest rate of 9.00%, where as BOA is charging highest interest rate of 14%. Through looking at the both the Table No: 7 and Table No: 8, it is clear that PCBL is performing well in the market and has better operation efficiently. Despite of providing lower interest rates on Deposit, PCBL is successful to allocate higher number of deposit after Sunrise bank. Correspondingly, even in terms of loan disbursement PCBL is also performing amazingly regardless of charging higher interest rate, PCBL is largest share of loan disbursement.
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From above comparison, it is clear to understand that, PCBL is performing better and has better greater opportunity of extending the market share.
SECTION II 1. Roles and Jobs performed during the Internship
Roles Performed During my Internship at PCB, I got opportunities to perform various roles that are as follows a. Performed Marketing role during Deposit Marketing, in order to bring public deposit base at the New Baneshwor Branch. b. Performed Sales Roles at New Baneshwor Branch, by explain the products and service of the banks to the customers and clients 40
c. Performed Information Role, by communicating the necessary information’s to the potential client and offer them required documents and formats for preparing their report. d. Performed Assistant Role, by assisting marketing manager and marketing department by helping them to formulate strategies and effectively implement those strategies, in which the bank can effectively convert those potential clients into existing clients.
These are the roles that I had performed during my internship at PCBL, New Baneshwor Branch, for ten consecutive weeks. Performing these roles has added value on me that would also help me for my future careers.
Jobs performed in Internship As an Intern at Prime Commercial Bank Limited, as our operation duty, I had to perform activities at Customer Service Department
Customer Service Department According to Wikipedia “Customer service is a series of activities designed to enhance the level of customer satisfaction that is, the feeling that a product or service has met the customer expectation.” The Customer Service department is responsible for handling, order processing, product and service questions, pricing information, system transfers, and other general inquiries. Like every organization, PCBL is also highly concerned regarding customer satisfaction, where increase customer satisfaction relates to increase in the productivity of the PCBL. In order to increase its customer service, the bank has applied and experiment the concept of Total Quality Management and Kaizen.
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Responsibilities at Customer Service Department a. Attending Customers At the PCBL, when clients pay visit into the bank, they are first greeted by the front line staff positioned at Customer Service Department and they are asked about their purpose of visit. Then Customer are guided or followed by the staff as per their requirement, after understanding their purpose. For example if they want to open an account, they will be systematically guided by the staff through the selling process. b. Explaining Products and Services to Clients There are various functions about CSD; Selling function is one of the core functions of CSD, where any tangible products aren’t sold but bank’s intangible products that are the banks deposit accounts are explained to the customer. PCBL has various products and service; each and every product is explained in general to the customer. If the Customer is convinced, and if they are able to align the product attributes with their requirement then they likely to open a bank account. c. Managing Clients Information System Another important functions carried out at CSD, is managing customer data base, from clients first account entry to clients account termination. Here at CSD, were had an opportunity to use Pumori Banking Software, where I was assigned to process information of account application form into information system, that generate, clients information, including other crucial information such as customer’s account number to their funds deposited at the banks. This opportunity made me familiar with the banking software. d. Maintaining Customer Files As operational duty, I had to work for CSD, where I was also assigned to manage the files and Documents relating to customer accounts, for further smooth and efficient functioning, which would benefit overall corresponding departments, for example Cash and gold loan department. After the clients information are kept into the information system of bank, the hard copy data such as signature specimen card and application forms should be efficiently managed, for future reference. At CSD I had to maintain hard copy 42
documents including account application form, check requisition, check inventory, ATM issued registers, and statement registers. These documents where correctly managed with the objective to provide reference in future. e. Providing Checks and Receiving Checks Requisition At CSD Check requisition form received, which are basically attached to the customer in the account opening form, and after opening an account, and check requisition form is processed to develop customer’s checks. After processing the check requisition, we provided them checks them within two days of receiving check requisition. f. Attending telephone calls Attending phone calls of customer and transferring the, call to the respective department was another responsibilities carried out at Customer Service department. So in order words, we had opportunity to learn some receptionist experience too. g.
ATM and Debit Card Issuing and Verifications.
As in terms of Nepalese Market, people are getting much more mesmerized by the ATM (Automated Teller Machine) card culture and people are highly interested having one. When I was positioned at CSD I got an opportunity, to manage the disbursement of ATM and Debit card of Smart Choice Technology (SCT). I had to manage the disbursement through an effective process, first customer gives, ATM /DEBIT card application, then after receiving, we send the applied form to concerned department of Head office, and then ATM/DEBIT card is received to the branch CSD after around two weeks of time. When customers arrive at CSD to receive their card, we verify the card no, card pin number at first and then the customer’s signature to ensure the card goes into the safe hands, and when thing goes properly the card is given to the card holder or the right customer. This was basic process explained in short about the ATM/DEBIT card issuing and verification process.
Contribution towards the Organization 43
My contributions to the PCBL, at the end of my internship can be categorized as below. a. Marketing banks Products and Service b. Developing Brand Equity c. Brought 118 Clients with total deposit base of 1.29 crores. d. Brought client to start SWIFT transfer from New Baneshwor Branch e. Identified and converted clients to start Staff Salary Account. As an intern, my contribution to the PCBL as mentioned above, within short span of ten weeks. Above mentioned achievement are outcome of my hard work, sincerity, personal skills, and network and loyalty.
2. Projects carried out during internship period During my Internship, as the project, I had carried out Deposit marketing, which is generally every intern is assigned at internship. At deposit marketing interns had to perform door to door marketing and personal selling to increase deposit base in the bank and increase the client base, from both individual clients and corporate clients. Deposit marketing is promotional process; through which products and service of bank is explain to targeted audience and matching the audience financial requirement with the communicated products and services. Prior to beginning deposit marketing, I had to take Internship Orientation class at Head Office, New Road. Our internship orientation class was taken by Deputy General Manager (DGM) Moti Kaji Tuladhar. He gave us clear instruction and motivated us by sharing his words of experience and knowledge. Later I was assign to New Baneshwor Branch, where I performed Deposit Marketing for consecutive ten weeks. At the end of ten week I was successful enough to bring total deposit of 1.29 crores to the bank, through 118 clients. During deposit marketing at New Baneshwor Branch, I was able bring first corporate client for SWIFT transfer and Staff Salary Saving Account. 44
During my Deposit Marketing I performed following marketing a. Individual Deposit Marketing I marketed banks products and services to the individual public, initially in order to commence my marketing in general. For individual marketing I started from marketing products to my relatives and my friends whom at I knew. I communicated to my relatives and friends from telephone and informed them about my internship at PCBL and my marketing assignment. From Individual marketing I got self confidence and I understood the concept of deposit marketing. By end of my internship I was able to have around 47% of Individual Clients, in numbers they would be around 55% clients.
b. Corporate Marketing Another side of deposit marketing was corporate marketing where, I visited around corporate offices; I had opportunity to market PCBL products to Organization situated at New Baneshwor Area. The experience of corporate marketing was completely different from that of individual deposit marketing. For Corporate Marketing, I tracked Insurance Companies, Media Houses, Educational Consultancy, Saving and Co operative, Non Profit Organization, Business Houses and many more. At the end of my internship I was able to cater around 53% of the clients were corporate clients out of which 63 accounts were opened. In corporate marketing, I offered Call Deposit, Current Account, Staff Salary Account and Fixed Deposits as per the requirement of the Organization. c. Swift Marketing. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) operates a worldwide financial messaging network which exchanges messages between banks and other financial institutions. SWIFT also markets software and services to financial institutions, much of it for use on the SWIFT Net Network, and ISO 9362 bank identifier codes (BICs) are popularly known as "SWIFT codes". The majority of international 45
interbank messages use the SWIFT network. As of November 2008, SWIFT linked 8,740 financial institutions in 209 countries. SWIFT transports financial messages in a highly secure way, but does not hold accounts for its members and does not perform any form of clearing or settlement. During my marketing assignment, I had an opportunity to perform marketing for SWIFT Transfer service of the bank, from where bank charges certain fee on the total amount transferred. For SWIFT transfer I basically target Educational Consultancy and Business Houses. Since our branch was new and despite of having SWIFT transfer service, due to lack of clients SWIFT transfer weren’t initiated. So during my deposit marketing, I along with another intern happen to bring first clients International Multi-trade, Mr. Dilip Shrestha, who used SWIFT transfer to send Euro currency to Cyprus to Americano College of Cyrus. d. Credit Marketing Credit marketing, basically refers to finding clients for loans. Credit Marketing is also knows as Loan Marketing. Though Credit Marketing isn’t the assigned task I got from the bank, but due course in deposit marketing, I happen to communicate with the clients and they asked for loans. In my experience, most of the clients were demanding for Overdraft, Auto Loan, and Housing Loan. Since I didn’t had any authorization regarding loans, in order to satisfy my clients, all I could do was to recommend the client to the relationship manager and explain him about the clients background in short and arrange meeting for both sides. Figure 5: Client Base Developed During Deposit Marketing
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This Figure explains that number of client made, during deposit marketing at PCBL. From total of 118 clients 53% of clients were corporate clients and likewise remaining clients were individual clients. To Support the Methodology used in performing deposit marketing assignment, I have attached my Interview with work supervisor along with another intern at appendix III.
2. Strengths and weaknesses in carrying out projects Table 9: Strength and Weakness Strength a. Positive attitude b. Energetic c. Continuously learning d. Good team player e. Able to Inspire others f. Ability to develop PR g. Persistence and Commitment h. Punctual and Honesty
Weakness a. Introvert sometimes b. Lack of proper planning c. Over committing various task d. Unable to carry out work correctly e. Speedy in work. f. Losing focus quickly
I believe that life is a learning experience and being able to understand my own strengths and weaknesses can help me to be better individuals in my future career that I choose to do. Knowing myself and what I can do, can help me to understand and overcome my weaknesses. One of my greatest strengths at work that I posses, would be my positive mindset towards my work. When I am assigned certain task or when I am performing a task, I always perform with a positive attitude, which boost up my confidence level and increases my 47
productivity. Once I begin my work, I work with all my energy, I don’t like to perform a work being lame and I don’t believe in languorous performance, whenever I do a work I put 100% of me on my work. I think I have always considered about myself is that, I am a human being and no one is perfect. But I always believe with my positive mindset that one can be nearly perfect, for which one should be always motivated and interested in constantly improving one’s skill and knowledge. I enjoy speaking, listening and giving input to my team members with this perspective I suppose myself to be a good team player, as I feel that I can also add some value in team effort, as I am always charged with energy along with clear intention. Similarly, I strongly believe in being polite and displaying humble behavior can inspire people for synergized team effort. I assume that I have good interpersonal skills through which I can have good public relationship. Another Strength of mine would be is that I always keep my effort to be persistent and constant, until and unless I achieve that is targeted. If I am assigned a task, even though I face challenges, those challenges don’t influence my persistent and constant energy for that work. These are the strengths of mine which I have discovered and analyzed through my internship opportunity. Despite of having strength it is also clear that I do have certain weakness, which I need to analyze and convert it into strength for my further progress of my career. I am generally, extrovert, but I have realized that at certain point of time and certain cases I act as introvert, I tend to stay alone, after work, I less prefer to go out with friends. I understand I have good intern personal skills, but sometime being introverts prohibits me to make new friends and colleagues sometimes. Likewise I cannot make efficient planning, for carrying out my work. Being energized sometime, I tend to make promises that I can’t keep, which generally is the root of cause of disputes within me and my team members. Likewise sometimes, I want my works to be in completed in higher pace that ultimately reduces my corrective in action. My concluding weakness that I have felt is that I tend to lose focus easily and quickly, because whenever I attend to customer, I get diverted easily, where I cannot understand their actual requirement and services. In my real life experience I had to various consequence of losing focus easily.
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These are my basic weakness and I am looking forward to have to improve weakness to strategically convert them into my strengths
SECTION III 1. Roles of departmental heads and intern’s supervisors Figure 6: Organization structure of PCBL, New Baneshwor Branch
In above diagram, Organizational Structure of PCBL, New Baneshwor Branch is explained. PCBL, New Baneshwor is fully functional branch that has all the required facilities, more than any other branches of other banks. Further explaining PCBL Baneshwor branch, the branch is basically divided into four departments as show above in figure as below.
Branch Manager Mr. Ashok Kumar Khadka is positioned as Branch Manager for New Baneshwor Branch, of Prime Commercial Bank. Mr. Khadka is chiefly responsible for directing the bank towards its objective and looking after the overall smooth functioning, which focuses on achieving the targeted objectives set by the BOD of the bank. Mr. Khadka is basically focused on making strategic decisions and planning the objectives of the bank. Roles of Mr. Khadka can be classified as followings. a. Maintain personal contact with customers and all employees on the branch to insure customer satisfaction.
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b. Conduct weekly department head meetings to reinforce bank standards and procedures. c. Conduct performance evaluations for all department head and key personnel as scheduled. d. Conduct weekly branch evaluations with department head to determine any action necessary to maintain and elevate branch standards, setting goals and objectives to be reviewed during the next branch evaluation. e. Analyze and implement any actions necessary to maximize local market share. f. Represent the Bank on all local community matters and insure that representation creates goodwill and promotes community economic development.
Relationship Manager Mr. Geha Ranjan Joshi is positioned as Relationship Manager for New Baneshwor branch. Mr. Joshi functions under the Supervision of Branch Manager. Being a Relationship Manager, Mr. Joshi is also responsible for handling and controlling the overall functions and activities of loan department of the branch. Mr. Joshi is also assigned as supervisor for all the interns received at the bank. As explained above Mr. Joshi handles all the customer that pay visit to branch with the objective of acquiring loan from the bank, similarly he also seeks to develop and maintain long term relationship with the clients, in order to increase the clients’ base of the bank for particular branch. Mr. Joshi main job is to look after the execution of the strategy and decisions and looking after the general operations of the banks and other departments of the bank. Roles of Relationship Manager can be classified as:-
a. Develop the Bank's long-term strategic partnerships with the clients b. Develop an in-depth knowledge of client's vision, strategies, programs and projects c. Develop an understanding of client's day-to-day administrative and banking activities d. In charge of the loan department. e. Supervise other departments of the Branch.
Cash Department 50
As any other bank, PCBL also consist Cash Department, where it is solely concerned about receiving and clearing checks. In terms of receiving both cash deposit and checks deposits, and disbursing both cash withdrawals (for cash withdrawals account holders can ask withdrawal slip, if they want to withdraw amount less than five thousand, for higher amount, they can use checks) and checks withdrawals. Here Ms. Kiran Siwakoti is assigned as department head where as Ms. Shrijana Gajurel, and Ms. Arati Shrestha as positioned to assist Cash department. Cash department is supervised by Mr. Joshi where as Ms. Siwakoti is highly responsible for major functions like checks deposit and withdrawals. Similarly, Ms. Shrijana and Mrs. Arati Shrestha are positioned to both support and assist for effective and efficient functioning of Cash Department. The roles of Ms. Siwakoti as department head can be classified as a. To supervise, process of everyday transactions, including deposits, withdrawals, transfers, and payments, b. To influence others staffs of Cash department to provide quality customer service, each and every time a customer walks through the door. c. To reconcile the every transactions made by the Cash department and verify the transactions.
Customer Service Department Customer service is a series of activities designed to enhance the level of customer satisfaction. With the motive to enhance customer satisfaction at new Baneshwor branch, PCBL management has placed experienced and diligent personal at CSD. The CSD is the first place of interaction of the client with the bank and I got maximum opportunities to learn and perform almost all the functions of the CSD and help the bank to carry out its operations and functions. When entered the bank as an intern CSD formally looked by Mrs. Koirala, who was later promoted and transferred to the operations department and Ms. Pratiksha became the new in charge for the CSD of the branch. While working with Mrs. Koirala I had great pleasure to learn and experience the major functions and jobs of the CSD. Similarly it was also a good experience to work under the guidance of Ms. Pratiksha, where I learned some of the crucial functions such as operating customer information system along with other different functions of the CSD 51
as mentioned earlier. Roles of Ms. Pratiksha K.C as customer service department head can be classified as a. Carrying out interpersonal role and acting as organizational figurehead b. Carrying out Liaising function with both the external customers and internal customers c. Executing informational role, for monitoring customer, disseminating information to concerned person of other departments as per requirement. d. Handling disturbance among the interns, customers, and resolving conflicts by negotiating, influencing and coaching interns, customers.
Marketing Department The marketing department concerned with developing the public relations of the branch, which is managed by Mr. Rana under the supervision and guidance of Mr. Joshi. The marketing department is responsible for identifying the clients and their needs and offering them the best products and services, which satisfy their thirst of a reasonable service. While working under the marketing department I was responsible and had to report to Ms. Shrestha regarding my daily activities and for daily feedback purposes. The roles of Mr. Rana as head of marketing department can be classified as. a. To provide information to the interns about the Organization, Products and Service offered and clients information. b. To guide interns for the deposit marketing c. To segment local market among the interns and assign responsible for segmented markets d. To evaluate and control the marketing activities of the every intern.
Gold Loan Department (GLD) PCBL as being 21st commercial bank of Nepal, it has to be competitive and continuously innovative, in terms of product, concept, attributes and ideas. Before a year, PCBL came out with the new product concept of Prime Gold Certificate (PGC) , where customer can deposit their gold to the bank, and bank issued certificate to the depositor customer 52
stating, they have deposit certain weight of gold at the bank. The PGC seemed to be effective products to those customers, who went for lockers for safeguarding their assets. With the concept to further improve PGC, the bank came up with the concept of Prime Gold Loan (PGL). Where customers could deposit their gold and take away loan as per the scheme within less period of time. This concept is still one of the successful products of PCBL. Gold Loan Department came into existence, in order to support the PGL product. The main function of GLD is to ensure and verify the quality and determining the value of gold that is brought by the customer. Mr. Ram Bhakta Thapa is positioned as head of GLD, who checks the quality of gold and calculates it market value to supports loan department for making specific decision for granting loan. The roles of Mr. Thapa as head of Gold Loan Department can classified as a. To ensure the quality of the gold, b. To determine the market value and financial value of the gold, c. To assist Relationship manager for making decision regarding providing loan to the customers
Operation Department The operation department is managed by Mrs. Koirala under the supervision of Mr. Joshi. Operation Department is held responsible for looking after the overall operations of the bank. It’s the duty of the operations department to ensure the effective operation of the entire placed department, making them available the required resources, maintaining and updating the different forms of inventory of the branch along with looking after the daily transactions and account opened by the bank. The roles of Mrs. Koirala as the head of Operation Department can be classified as, a. To meet, exceed all service and process related parameters as laid b. To efficiently monitor responsibilities assigned to the other department c. To carry out strategy for implementing the banks objective and mission d. To ensure the customer satisfaction, through Total Quality Management.
1. Lessons learned from co-workers
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Internship at PCBL is one of the most precious lesson experience and corporate exposure that I have gained so far as a management student. I must mention that working environment at PCBL is very admirable compared to other organization where I have performed internship. Explaining about the work environment, every employee of the branch from the top to bottom, whether it’s Branch manager or assistant teller everyone carries the feeling of pride for working at PCBL which is very much essential for work productivity. Along with that, management has made such a environment where every employee give their full effort to their work, including their honesty, co cooperativeness. One of the good culture intensity that I found among the employee is that everyone holds the caring attitude towards each other, which is highly essential for teamwork. Everyone displays the feeling of collective responsibility, exhibit feeling of trust among each other that makes a boost up in their performance. Sharing my experience of working with fellow workers, I would say it was a productive, prolific and fruitful experience along with exposure. Learning is basically a continuous process, where knowledge is gained over time, which reflects permanent change is behavior. Within this excellent opportunity, I have learned things both personally and professionally.
Personally Learning a. Positive Attitude b. Extrovert c. Trust d. Mutual Respect e. Collective Responsibility f. Feeling of Caring and Pride
Professionally Learning a. Punctuality b. Marketing Skills c. Communicating Skills d. Customer Handling Techniques e. Motivating Skills f. Using Pumori Software. g. Product Presentation skills
Table 10: Learning Experience
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Personal Experience Explaining about personal learning, I have learned and realized that whatever, where ever you work one always needs to have positive attitude for better performance, this helps to gain self confidence. I have learnt to be extrovert; communicative to the co workers, earlier, as I was a bit introvert being less open communicative with others. I have realized one should trust team members as trust influence your involvement and maintain the creativity within the team members. While working in team I also came to realize, one factor which maintains the team chemistry and combined effort is mutual respect among members. Personally I also have learnt things that helped me to understand and analyze my weakness and converting them to my core strengths. While performing in group or team work, every member should have a feeling of collective responsibility; this makes equal participation in the task from every team member and no one beholds the idea of scapegoating. Equally one should take care of their team members because a task is result of combined effort and if one member doesn’t work as standards, the whole team attempt to assignment is pulled back or dropped down.
Professional Experience At the work environment, I got a good opportunity to see, how people work in team and how they put their synergized effort for better outcome. I learnt from my supervisor, if you are at work you should learn to respect client’s time so I learnt to be punctual. I also learnt other personal and marketing skills from Ms. Sajana Shrestha about how to develop marketing skills as she used to motivate us for every effort we put into.
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Respectively, from her orientation I realize importance of customer handling techniques, as customer are diversified, everyone doesn’t have similar taste, attitude, perception and similar preference over particular product. She used to repeatedly tell me that for good marketer one should always have efficient communication skills with proper mix of polite words and tone adding hospitable behavior for winning the hearts of customer. During my work experience with Ms. Pratikshya K.C, I had an opportunity to learn and use Pumori Software what is used in bank for managing client’s database and accounts. Finally from managerial perspective, I have learnt that while working in team one should posses leadership skills have motivating skills and consider motivate every team members for good synergized effort.
SECTION IV 1. Initial and End expectations/perceptions With the due course of Kathmandu University, every individual undergraduate student has to acquire an internship experience, from an organization before, completing the undergraduate course. In terms of my experience, I thought of having an internship experience at a commercial bank of Nepal. Through the environment analysis, banking industry is the only, one of the major industries, which is able to place as a strong and successful sector despite of large competitor base and poor political environment. If we further look towards the 56
current scenario and market, about the banking scenario of Nepal there are all together around twenty six, commercial bank in Nepal, were all these commercial banks are running on profit compared to other industries such as textile, carpets, tire industry. Despite of these fact, that Nepal is developing nation with primitive market structure, every commercial bank are capable of making profit out of every activities that they perform. According to Report of Central Bank of Nepal, by the end 2065 B.S, total Net Profit earned by all the twenty six commercial bank was about more NRS.210 cores (NRS.21 million). Out of which, new commercial banks were making lower profits, near around two to three cores, one thing I found out that, new commercial banks are facing the challenges better position themselves in the market and the for the organizational growth. I realized that going to the newly established bank, where I would get an opportunity to learn many things, if I relate my internship with my future career. I personally believe that where there is a problem, there is an opportunity, so thought of accepting challenges to learn new things. Similarly, looking through the tables of new commercial bank, I found Prime Commercial Bank Limited, as the organization that I was looking for as new banks has new management team more challenges and more threats, with regard of learning more, and I applied for the internship. After applying for the internship, I was a bit confused about from where should I start my internship, where shall I place myself so I get to learn more and sharpen myself interns of my future career. Thoughtfully thinking, I decided of doing my internship at, Credit department. Basically, the banks collects money from the public and in return, provide certain interest, here the challenges lies in capitalizing the resources that is available to the bank. Basically, option available to the bank would be grating loan to the needy people, at the same time bank has to consider about three things that are risk, return and time. Mobilizing the resources and converting it into profitable venture isn’t an easy job, along with expectation to develop personal relationship, I decided myself that I would be applying at the Credit Department of Prime Commercial Bank Limited as I found it more challenging.
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With perception to apply for Credit Department at PCBL, I had the option to choose the branch as PCBL had around seven branches including the head office located at New Road. As earlier I was a bit confused regarding which branch I should be applying for, as three branches are out of Kathmandu valley and as per remaining branch, four option was available, New Road as head office, New Baneshwor branch, Patan Branch, and finally Balaju branch. I was very much confused deciding the branch so I had to consult with Senior Alumni of Kathmandu College of Management (KCM) Mr. Sujan Karki. He suggested me to target for the Head Office situated at New Road. With discussion and analyzing myself about the four branches within the valley, I found that head office more justifiable than other six branches compared because of the following reasons, a. New Road as a financial hub. New Road is the financial hub, busiest high street of Nepal. It literally refers to a four lane street in the center of Kathmandu. However, the term also denotes the neighborhood of the street. It is one of the busiest marketplace and trendiest hangouts of Nepal. New Road area is situated at Kathmandu, the capital of Nepal, where it lies at the centre of the capital. Since the history New Road is considered as the trading place where seller from different place used come and buyers from all over the country used to come and trade for the products which they liked. Even today, New Road is the most develop market that country has to offer. Looking through the consumer buying behavior of local people of Kathmandu, they prefer shopping at New Road from apparels to other electronic gadgets, rather than their shopping at their local residential market. b. Larger market New Road as the most diversified market, where this market has to offer versatile products. Every merchant prefer to open their store at New Road at first compared to other markets available in the country. New road receives visits from more than ten thousand potential buyers every day, resulting higher customer flow and economic transaction than any other market. c. Being the Head Office.
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Generally in every organization, head office carries more function and department than any other branch, with high amount of work loads and opportunity; with higher customer flow. These are the core reason why I was highly convinced to apply for New Road branch and I believe doing so I would add value at the end of my internship. So, I finally decided to do my internship at Prime Commercial Bank Limited, New Road head .
Prior Expectation I had an expectation from PCBL, to learn various things, initially. Achieving my internship objective was one of my highest expectations that I had on top of all. Discovering in dept about me and understanding my strength and weakness was another expectation that I had. I wanted to explorer myself and analyze my core weakness and generate strategies to overcome my weakness. After applying for internship at Prime Commercial Bank Limited, they asked me to attend the internship orientation class on 19th February. We had internship orientation class at head office, which was hosted by the Mr. Moti Kaji Tuladhar, Deputy General Manager of PCBL. I had a good experience, taking that class, I began to understand about Banking environment and PCBL’s position. After internship orientation, I was informed that I have been assigned to New Baneshwor Branch, for Customer Service and Deposit marketing. I talked to DGM and explained him about my targeted internship as per placement, but he told me that he couldn’t help me regarding my planning. But he explained me that PCBL provides internship in just Customer Service and Deposit Marketing. I was really angry about the circumstances it wasn’t as per my prior expectation, I wanted to learn something, but I was positioned somewhere else and as I didn’t find marketing as new and challenging though I had prior experience of Marketing at Vaidya Organization of International Trading House (VOITH), Toyota during my Sales Internship. But I didn’t have any other option, either so I forced myself as I didn’t had enough time to hunt for other organization. I was somewhat convinced about Customer Service Department but, idea about Deposit Marketing Highly bugged me out. Earlier I thought go personally visiting people and 59
asking for deposit individually wasn’t something challenging as per the standards, so I was technically ignoring, in other words I would say “I didn’t wanted to do it”. This was what I felt the beginning at the internship, but later I as time went by I enjoying as I had to prove myself to the bank and to myself for self actualization. My main target doing internship at Credit Department was because that Nepal is a developing country, where there aren’t much productive sector where, despite of these fact banking markets boosting up like anything from year to year. Banks are the main source of capital for Real Estate sector so I planned working at credit department would given me the chance to know about the loan disbursement system and helped me to know the major real estate clients
Post Expectation. Anyhow, later I was convinced in a way for deposit marketing and customer service as I didn’t had other option. With my positive attitude towards my work made to learn many things even in deposit marketing, which initially I didn’t preferred. Somewhere, somehow I have heard that an objective without a plan is a wish, so I started to make a plan about carrying out Deposit Marketing. At the beginning I had targeted individual public deposit as plan but later on I realized that I can make my work more enjoyable and value adding by focusing and targeting corporate clients and deposits, where I could learn about other organizations and their business ideas, trends. Focusing on Corporate sectors would also help me to analyze the competitor bank’s trend activities and products along with interest offering, which was crucial for deposit marketing. I was prepared about the circumstance that I have to face during my deposit marketing assignment, from competitor’s bank. Throughout my internship at customer service and deposit marketing, I have managed to learn many things personally, academically and professionally. Through customer service, I was capable of learning customer handling skills. With continuous effort and keen interest I was also able to I understand how bank channelizes it resources, i.e. deposits, how deposits are collected and how are they disbursed. During this assignment, initially phase, I went to my relatives and colleagues convincing them and asking them to 60
open an account at the bank and deposit particular resource at the bank; I had genuine experience understanding the human behavior and their concepts. From that very moment I felt that life is much harder and challenging I know and experienced seen, because things never goes like we expect as Deposit Marketing was very much difficult task. My firsthand experience, at PCBL, enlightened me that, about the importance of money and it actual worth and how people are really concerned about their expense. In other words I came to know true and harder part of life. But this experience shall never be wasted as, I have capitalized this experience to make myself bold, tougher, hard working and stronger and luckily, I had it possible to convert my actual weakness into my strengths. As per my experience, I have gained various skills and enhance the existing skills, I developed communication skill, leadership skills, developed presentation skills, where as I also developed habit of analyzing environmental variable from managerial aspects. I developed some positive traits such as being punctual, politeness, and behavioral respect towards customer despite of their stay away attitude. At the end of my internship, I am happy about my achievement and my experience and about the overall operation of Customer Service Department, which isn’t that much easy, as one says, and one perceives, and from Deposit Marketing I was able to develop the client base for PCBL branch with 118 clients with total deposit of NRS 1.29 million. Though I didn’t like to work for marketing department, but with my positive attitude towards I was able develop clients’ base of around 118 clients. I believe this was one of the most challenging jobs that I had ever performed and I feel good about this achievement. My perception at end was completely changed after the internship experience about deposit marketing than before, as earlier I almost hate deposit marketing as I didn’t preferred to perform door to door selling but, as time went on by I started to admire my given assignment, and now I can say, I enjoy whatever I do for Deposit Marketing whether I communicate, talk with people, present the product to the people through door to door marketing and personal selling I enjoying doing so. For this part of my effort and motivation, I would also like to thank PCBL bank management, as they provided the 61
official visiting card of PCBL, where my name was written on it. I was highly motivated and felt good, as that made me feel that I am the official part of the bank, and it was much easier for me to visit corporate organization.
1. Skills and Knowledge acquired in internship Doing Internship at PCBL has provide me the opportunity to gain following skills which I believe, has added value and benefited me for my future career. The skills acquired during my internship period can be classified as
Table 11: Skills Acquired at Internship a. b. c. d. e. f. g. h.
Skills acquired at Internship
Strong work ethic Dependable and responsible Adaptability Gain Self Confidence Problem solving Skills Interpersonal skills Networking Skills Presentation skills
I develop strong work ethics from my internship, which is very important for an employee, which also define their interest in their work along with their skills. I also learnt to depend on others, as it is very important for a team member to depend on other team member, to successfully accomplish assign goal. In my earlier stage of internship I 62
was to extend self dependent on towards my work , and as result I tried to do every task without coordinating with team members others, but later I realized how wrong I was. Deliberately I learn to adapt to different environment and culture. Before doing internship at PCBL, I had prior sales internship at VOITH for TOYOTA, I found the organization culture different and diverse, but later understood and I learnt to adapt to various working environment and culture. I also had opportunity to enhance my Presentation Skills, Interpersonal Skills and Networking skills. At the end of my internship period I was successful enough to develop client base of more than hundred clients through above learnt skills.
Skills and knowledge required in internship Writing about the skills required for deposit marketing as per my conclusion would be four skills, Table 12: Skills required for Deposit Marketing a. Patience b. Positive Attitude Skills Required for Deposit Marketing
c. Interpersonal Skills d. Presentation skills e. Consistency.
From my experience for deposit marketing, I believe one should develop the trait of being patient, because as per my experience when I paid visit to clients they would entertain us by listening to our presentation and promise to do as per their convenience to enjoy our services. Here I would like to share experience of mine, once I had followed a client, nearly about more than eighty days, but I could find any positive sign of response
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from that client, despite of visiting more than 10 times. Similarly there were many cases where clients used to respond after a month. So I believe one should have be patient. Positive attitude is also considerably highly essential, required for a marketer. One has to face various demoralizing consequences while paying visit to individual and corporate clients. I would like to share one of my experiences, where highly demoralized and downhearted by the clients. I don’t think, it would sound ethical to name the organization, but there was a state, where I went to an organization with motive of Deposit marketing. I explained her about my background, my purpose to visit their organization and requested inquire to the Financial Manager about me and my visit so that I could have small chitchat. She made me to wait for about two hours and later she told me that her Manager has said that “My organization isn’t interested in doing business or developing any sort of relationship with new bank life yours”. That was such a bitter and harsh experience, but I didn’t lose that quickly, I believed myself and constantly kept trying, and finally, I happen to bring good amount of deposit to the bank,. So from my experience I would say positive attitude is very important thing to have. At the same, other interpersonal skill and presentation skill is also required; as from my experience I felt that one should be able to connect the products and service to the client’s requirement and make a good explanation about the product that is suitable. Finally, another required skill for a marketer to have is consistency, marketer should be harvesting equal amount of interest and effort to their work, whatever be the consequences, as deposit marketing task isn’t that much easy as it seems to be. So I believe that one should love this work and always put constant effort to be successful in deposit marketing. 1. Impact of skills and knowledge in future decision making I believe these skills and knowledge learnt at PCBL will surely help me to shape up my future career. Being a management student, I learnt skills and I got chance to have close observation regarding managerial skills from my supervisor that shall help me in taking rational decision in my life. Although the skills, knowledge and experience that I 64
currently have is not enough for taking up the sole responsibilities of the bank, I would require more experience and further technical skills. I personally believe this can be done by completing my higher studies like: MBA. However, I am aware of the working environment of a bank. So, I can utilize my experience that I have gained to enhance my career choice and also learn more to decide upon what would be the best career path that I can choose. Hence, this has been a wonderful experience for my academics and my career decisions which will pave a way for the near future.
Part Two SPECIFIC ASSIGNMENT SECTION I 1. Brief background of Deposit Marketing Assignment. As specific assignment at PCBL, I performed deposit marketing, where I had to bring deposit from individual and corporate through marketing. I was given time frame of ten weeks to perform this task. Through this particular assignment I have learnt many banking tools and its products and services. Crucially I was also able to understand client’s requirement along with interpersonal skill, network skills and presentation skills.
Banks and Financial institutions in Nepal Financial system of Nepal is still in its primary stage of development. Small and fast growing financial sector comprises of commercial banks and other financial institutions like development banks, finance companies, cooperatives. The banks in Nepal fall under two categories of government owned banks and public banks. The government banks are few as compared to the private banks in Nepal. The public banks are greatly expanding year after year presently there are twenty six commercial banks including three government owned banks. 65
Even though there are only three government banks, these three banks are the largest banks in all aspects from deposit and credit mobilization to the number of branches in operation. The financial sectors mentioned below are solely governed by Nepal Rastra Bank (NRB).
The following table shows the categories of banks as per the NRB Act.
S.N. 1 2 3 4 5 6
Types of financial institutions Commercial Banks Development Banks Finance Companies Micro- Credit Development Banks Saving and Credit Cooperatives
Class A B C D Not
Number 26 58 88 12 16
Non Governmental Organizations
Classified Not
46
Classified Total = 246 Table 13: Numbers and Types of Financial in Nepal
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As for the statistics of Nepal Rastra Bank Presently there are 26 commercial Banks, including both government and public limited banks, the statistic below shows their starting operation date and the Banks Head Office. Table 14: About Commercial Bank of Nepal
S.N
Names of the Banks
Operation Date
Head office
1 2 3 4 5 6 7 8 9 10 11
Nepal Bank Limited Rastriya Banijya Bank Limited Agriculture Development Bank Limited Nabil Bank Limited Nepal Investment Bank Limited Standard Chartered Bank Nepal Limited Himalayan Bank limited Nepal SBI Bank Limited Nepal Bangladesh Bank Limited Everest Bank limited Bank of Kathmandu Limited Nepal credit and Commerce Bank Limited Nepal Industrial & Commercial Bank Limited Lumbini Bank Limited Kumari Bank Limited Laxmi bank Limited Siddhartha bank Limited Machhapuchhre Bank Limited Citizens Bank International Limited
11/15/1937 1/23/1966 1/2/1968 7/16/1984 2/27/1986 1/30/1987 1/18/1993 7/7/1993 6/5/1993 10/18/1994 3/12/1995
Kathmandu Kathmandu Kathmandu Kathmandu Kathmandu Kathmandu Kathmandu Kathmandu Kathmandu Kathmandu Kathmandu
10/14/1996
Kathmandu
7/21/1998 7/17/1998 4/3/2001 4/3/2002 12/24/2002 10/3/2000 6/21/2007
Biratnagar Narayanghat Kathmandu Birjung Kathmandu Pokhara Kathmandu
12 13 14 15 16 17 18 19
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20 21 22 23 24
Prime Bank Limited Sunrise Bank Limited Bank of Asia Limited Development Credit Bank Limited NMB Bank Limited
9/24/2007 10/12/2007 10/12/2007 1/23/2001 11/26/1996
Kathmandu Kathmandu Kathmandu Kathmandu Kathmandu
25 26
Global Bank Limited Kist Bank
1/2/2007 25/01/2066
Birjung Kathmandu
Deposit Accounts Deposit account is a current account at a banking institution that allows money to be deposited and withdrawn by the account holder, with the transactions and resulting balance being recorded on the bank's books. Some banks charge a fee for this service, while others may pay the customer interest on the funds deposited. Deposit at Bank is process where an amount of money placed either at call (redeemable or withdraw able on demand or for a fixed period.
Marketing According to Philip Kotler “Marketing is the process of planning and executing the conception, pricing, distribution, and promotional of ideas, goods, and services to exchange that satisfy the perceived needs, wants and objectives of individual and organizations.” According to Wikipedia “Marketing is an integrated communications-based process through which individuals and communities discover that existing and newly-identified needs and wants may be satisfied by the products and services of others.”
Marketing in Bank Marketing approach in banking sector had taken significance after 1950 in western countries and then after 1980 in Turkey. New banking perceptiveness oriented toward 68
market had influenced banks to create new market. Banks had started to perform marketing and planning techniques in banking in order to be able to offer their new services efficiently. Marketing scope in banking sector should be considered under the service marketing framework. Performed marketing strategy is the case which is determination of the place of financial institutions on customers’ mind. Bank marketing does not only include service selling of the bank but also is the function which gets personality and image for bank on its customers’ mind. On the other hand, financial marketing is the function which relates no congenitally, differences and non similar applications between financial institutions and judgments standards of their customers. The reasons for marketing scope to have importance in banking and for banks to interest in marketing subject can be arranged as: Change in demographic structure: Differentiation of population in the number and composition affect quality and attribute of customer whom benefits from banking services. Intense competition in financial service sector: The competition became intense due to the growing national banking perceptiveness and recently being none limiting for new enterprises in the sector. Increase in liberalization of interest rates has intensified the competition. Bank’s wish for increasing profit: Banks have to increase their profits to create new markets, to protect and develop their market shares and to survive on the basis of intense competition and demographic chance levels. The marketing comprehensions that are performed by banks since 1950 can be shown as in following five stages: i. Promotion oriented marketing comprehension ii. Marketing comprehension based on having close relations for customers iii. Reformist marketing comprehension iv. Marketing comprehension that focused on specializing in certain areas v. Research, planning and control oriented marketing comprehension
The Marketing Mix in Banking Sector 69
Recently, banks are in a period that they earn money in servicing beyond selling money. The prestige is get as they offer their services to the masses. Like other services, banking services are also intangible. Banking services are about the money in different types and attributes like lending, depositing and transferring procedures. These intangible services are shaped in contracts. The structure of banking services affects the success of institution in long term. Besides the basic attributes like speed, security and ease in banking services, the rights like consultancy for services to be compounded are also preferred. a. Price The price which is an important component of marketing mix is named differently in the base of transaction exchange that it takes place. Banks have to estimate the prices of their services offered. By performing this, they keep their relations with extant customers and take new ones. The prices in banking have names like interest, commission and expenses. Price is the sole element of marketing variables that create earnings, while others cause expenditure. While marketing mix elements other than price affect sales volume, price affect both profit and sales volume directly. Banks should be very careful in determining their prices and price policies. Because mistakes in pricing cause customers’ shift toward the rivals offering likewise services. Traditionally, banks use three methods called “cost-plus”, “transaction volume base” and “challenging leader” in pricing of their services. b. Distribution
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The complexities of banking services are resulted from different kinds of them. The most important feature of banking is the persuasion of customers benefiting from services. Most banks services are complex in attribute and when this feature joins the intangibility characteristics, offerings take also mental intangibility in addition to physical intangibility. On the other hand, value of service and benefits taken from it mostly depend on knowledge, capability and participation of customers besides features of offerings. This is resulted from the fact that production and consumption have non separable characteristics in those services. Most authors argue that those features of banking services make personal interaction between customer and bank obligatory and the direct distribution is the sole alternative. Due to this reason, like preceding applications in recent years, branch offices use traditional method in distribution of banking services. c. Promotion One of the most important elements of marketing mix of services is promotion which is consist of personal selling, advertising, public relations, and selling promotional tools. d. Personal Selling Due to the characteristics of banking services, personal selling is the way that most banks prefer in expanding selling and use of them. Personal selling occurs in two ways. First occurs in a way that customer and banker perform interaction face to face at branch office. In this case, whole personnel, bank employees, chief and office manager, takes part in selling. Second occurs in a way that customer representatives go to customers’ place. Customer representatives are specialist in banks’ services to be offered and they shape the relationship between bank and customer. 71
e. Advertisement Banks have too many goals which they want to achieve. Those goals are for accomplishing the objectives as follows in a way that banks develop advertising campaigns and use media. i. Conceive customers to examine all kinds of services that banks offer ii. Increase use of services iii. Create well fit image about banks and services iv. Change customers’ attitudes v. Introduce services of banks vi. Support personal selling vii.Emphasize well service Advertising media and channels that banks prefer are newspaper, magazine, radio, direct posting and outdoor ads and TV commercials. In the selection of media, target market should be determined and the media that reach this target easily and cheaply must be preferred. Banks should care about following criteria for selection of media. i. Which media the target market prefer ii. Characteristics of service iii. Content of message iv. Cost v. Situation of rivals Ads should be mostly educative, image making and provide the information as follows:
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i. Activities of banks, results, programs, new services ii. Situation of market, government decisions, future developments iii. The opportunities offered for industry branches whose development meets national benefits. a. Selling promotional tools Another element of the promotion mixes of banks is improvement of selling. Mostly used selling improvement tools are layout at selling point, rewarding personnel, seminaries, special gifts, premiums, contests.
Deposit Marketing Deposit marketing is process of convincing people or organization through effective communication plan, about the products or services of a financial institution and influencing them to make deposit their financial resource to particular financial institution, with believe to provide them both monetary and non monetary benefits, and developing long term relations. By Kushal Sundar Shrestha Deposit marketing is promotional process; through which products and service of bank is explain to targeted audience and matching the audience financial requirement with the communicated products and services.
Methods of Deposit Marketing a. Direct or Personal Marketing, Marketing method through which, products are sold through involving person to person contact. b. Enterprise Marketing, Enterprise marketing is one of the complex process. It is also knows as Request on proposal. An institution market their product and service to customer by letting customer know their product through submitting proposal. 73
c. Door to Door Marketing, Door-to-door is a marketing technique in which a marketing officer or marketer walks from one door of a house to another trying to promote a product or service to the general public, in order to increase sales or to meet specific objective. d. Telephone Marketing Telephone marketing is a method of direct marketing in which a marketing officer solicits to prospective customers to know about products or services, over the telephone. These are the basic method through which deposit marketing can be done, in order to increase number of customer to bank and raise deposit fund for bank at the same time.
Products and Service Promoted during Deposit marketing Table 15: Products and Service Promoted during Deposit Marketing S.NO
PARTICULARS
MINIMUM
RATE
BALANCE (Rs)
INTEREST
OF
BASIS
OF
CALCULATION
SAVINGS SAVING DEPOSITS 1 Public Savings
100.00
4%
Monthly
Min
2
1,000.00
4%
Balance Monthly
Min
Normal Savings
Balance 74
3 4 5 6
Privilege Savings Prime Savings Prime Gold Savings Call Deposit
Savings FIXED DEPOSITS 1 Up to 1 Year 2 1 Year - 2 Year 3 2 Years and Above
Not Required 50,000.00 100,000.00 Negotiable
4.25% 4.50% 6% 3% - 7%
Daily Balance Daily Balance Daily Balance Daily Balance
Negotiable Negotiable Negotiable
6.75% 7.00% 7.25%
Daily Balance Daily Balance Daily Balance
5000.00
*1
CURRENT ACCOUNT 1.
Current Account
CALL ACCOUNT 1.
Call Account
1,00,000.00
STAFF SALARY ACCOUNT 1. Staff Salary Saving *2
4% - 8%
4%
Daily Balance
Monthly
Min
Balance Condition applied *1 Generally interest isn’t paid on current account *2 if an organization open current account, PCBL provides Complementary staff salary account where at zero balance
1. Objectives of Deposit Marketing Deposit marketing at PCBL is basically, organized procedure of making intern understand about the concept of deposit and developing selling and communicating skills along with developing relationship with clients. Objective of Deposit marketing are a. To increase base of public deposit and corporate deposit b. To promote the financial products services of the bank. c. To develop brand equity of the bank d. To convert potential clients into actual clients and develop long-term relationship 1. Scope of the Deposit Marketing. 75
Generally the scope of this study is to identify the potential customer for the bank and converting the potential clients into actual clients through persuade clients the comparative advantage of PCBL products and service, compared to competitor’s products and services.
This assignment is limited in terms geographical boundary,
customers and the objective of the assignment. As PCBL is new, deposit are its raw material for its growth and which helps them to be more competitive and advance, as we know that if banks are able to utilize their raw material which is deposit, they could be more productive and competitive in market in terms of their product and other financial services such as loan. It is quite significant to clearly segment the market, identify the potential customers and promotion of financial products and services is also equally important.
SECTION II 1. Review of related Literature Every Financial Institution has basically three major sources of cash inflow or source of funds for their effective functioning, whether that is commercial bank, finance company, Multipurpose cooperative or Micro Finance. The major source of funds can be classified as, a. Deposit b. Initial Public Offering. And c. Interbank Lending Among all these source of funds, Deposit are the main and the vital source of funds.
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DEPOSIT According to Australian State Bank Act 1994 - SECT 4 Deposit means a sum of money paid to the Bank on terms: (a) under which the Bank is obliged to repay the money, with or without interest or a premium, and either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the Bank, (b) Which are not referable to the provision of property or services or the giving of security? “Deposits are the claim of customers over the bank on their account” By Muhammad Yasir Basically Deposit is foundation upon which banks thrive and grow. They are unique item on a bank’s balance sheet that distinguishes it from other types of business firms. The ability of a bank’s management and staff to attract checking and saving account from business and consumers is an important measure of the bank’s acceptance by the public. “Deposits are the raw material for bank loans and thus represents the ultimate source of banks profit and growth”. By Peter S. Rose Deposit collection is the main and crucial source of funds, because deposits are provides most of the raw material from bank loan, which is the ultimate source of bank profits growth. When a bank collects bank deposits from the mass, cash reserve is generated, and excess reserve could be used for granting loan. As Peter S. Rose has explained in his book Commercial Bank Management Deposit can also be used to analyze the bank’s effectiveness as bank should be able to raise deposit at lower cost and capitalize the deposit to produce profit by giving loans.
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According to Peter S. Rose, every bank has to deal with to Manage Deposits are: Key Issues that bank have to deal with the deposit are i. Where can the bank raise funds at the lowest possible costs? ii. How can management ensure that the bank always has enough deposits to support the desired volume of loans and other service? In order to efficient service to the mass client, commercial bank has to have strong deposit reserve, in other words banks needs to have strong cash holdings that support their every financial service. Hence, Banks collects deposit from the people, through deposit account and banks present their innovative ideas to develop deposit accounts schemes to suit various need of their customers.
Types of Deposit offered by Banks According to www.wikipedia.com, there are basically four types of deposit that banks caters to increase their deposit reserve. There are basically three forms of deposit, but banks present themselves, innovative ideas to attract to more customers, that satisfy different customer and their different needs. a. Transactional Deposit A transactional Deposit is targeted to an organization that requires frequent access to their deposited funds on demand, through a variety of different channels. Transactional deposit is targeted to organizations that deposit funds and withdraws fund frequently. Transactional Deposit are also knows as Current Deposit, Demand Deposit or checking deposit. Transactional accounts are meant neither for the purpose of earning interest nor for the purpose of savings, but for convenience of the business or personal client. A customer 78
can deposit or withdraw any amount of money any number of times, subject to availability of funds. b. Saving Deposit Saving deposit based on the principle that customer for deposit funds and doesn’t withdraw their funds frequently, for which financial institution pays interest. Saving accounts are targeted to low income people and to those not needing to draw money frequently. As a condition the minimum amount to deposited and maintained is also presspecified, which is differs bank to bank. Banks provides interest in saving accounts and banks are free to fix the interest rate themselves. c. Time Deposit Is money deposited at a banking institution that cannot be withdrawn for a certain "term" or period of time. When the term is over it can be withdrawn or it can be held for another term. The longer the term or time, the better would be the yield or interest on the money. A certificate of deposit is a time-deposit product. This is also known as Fixed Deposit. In compared to other accounts, there rate of return is a bit higher, generally, in comparison to other types deposit. Though deposited amount cannot be access or withdrawn for stated time period until, maturity, however depositor can enjoy the loan against fixed deposit as required.
Interest Rates Offered on Different Types of Accounts People are always driven by the interest rate, whenever they think of depositing their funds. Consequently banks offer different rates of interest in different deposits to magnetize their customers. The rate of interest on deposit depends on the following factors. a. Maturity of Deposit Every Commercial Bank’s interest rate is always directly influenced by time span of maturity of deposit. Longer the maturity period of deposit, higher will be the interest rate. This is mainly because of time value of money and the frequent upward slope of the yield 79
curve. Basically for saving deposit bank provides minimum interest because, it isn’t withdrawn frequently, but can withdrawn at any point of time. Likewise bank doesn’t provide any interest to current deposit because deposits are withdrawn frequently. However at time deposit or fixed deposit, bank provides huge interest as the deposits can’t be withdrawn at all until the maturity time. b. Amount of Deposit The amount of deposit also determines the interest rate. Higher the minimum balance for deposit, higher would be the interest rate. Principally the minimum balance requirements are differed as per banks their policy, to magnetize customer. Generally, to get higher deposit, this information is mostly shared with customer before they open deposit account, because institution is always looking for higher deposits.
c. Size and Perceived Risk and Exposure The size and perceived risk exposure of the bank may play a role in determining interest rate. It is likely to be true that Standard Charted Bank of Nepal provides lower interest rate for saving deposit compared to newly established banks, because of greater size and strengths of Standard Charted Bank, whereas, new bank provides greater interest rate to the customer for saving account. d. Marketing Philosophy and Goals Marketing Philosophy and goals of the banks also influence interest rate. In order to magnetize and raise deposit bank, come up with various innovative ideas and schemes that motivate customer to make deposit. With the objective to grab the customer of competitors, banks provide higher interest rates. At the same time, old and established bank is providing lower interest, to discourage customer because they have good clients and they don’t look further to increase clients whom they cannot serve. We can take Nabil Bank and Standard Chartered Bank as an example. e. Liquidity Position 80
When banks have high liquidity and low demand for loans, which mean lower investment opportunity, they offer low interest rates to discourage deposits vice versa. Looking at present scenario, due to Initial Public Offering of various new commercial banks, there is liquidity crunch, in the market then in order to raise banks base of deposit, all the bank are coming up with revised interest rate. For example, Machhapuchhre Bank Ltd is providing around 8% for time deposit or fixed deposit.
The Structure of interest rate offered by the commercial banks in Nepal is as follows Nepal Rastra Bank Bank & Financial Institution Regulation Department Statistics Division Interest Rate Structure of Commercial Banks (%) Table 16: Interest Rate Structure of Commercial Banks Percent per Month Type of Deposits Saving Deposits Time Deposit 1 Months 3 Months 6 Months 1 Year 2 Year and Above
Mid March 2009
Mid April 2009
2.00 – 6.50
2.00 – 6.50
1.50 – 5.25 1.50 – 5.50 1.75 – 5.75 2.50 – 7.25 2.75 – 7.75
1.50 – 5.25 1.50 – 5.75 1.75 – 6.25 2.50 – 7.50 2.75 – 8.00
Source: 81
a. http://bfr.nrb.org.np/bfrstatistics.php? tp=interest_rate_structure&&vw=1000 b. http://www.nrb.org.np Looking after the changed rate in above table, we can see that percentage of interest has been increase within period of a month because of liquidity crisis, banks are offering higher deposit rate to raise deposit.
Composition of Bank Deposit Various types of deposits held by financial institution at bank at a time period are influenced by the public demand. Likewise other factors such as bank fund raising policies, including the services fees charged and the interest offered on various deposit schemes. At the same the marketing advertisement and promotional activities of banks also influence customer to make deposit on respective banks. Three different deposit offered by the can be show in the following table Table 17: Composition of Deposit Type of Deposit
2007
2008
% Increased
Demand Deposits
1017750.9
1055610.9
3.719967
Saving Deposits
3851401.7
4779618.9
24.10076
Fixed Deposits
1859868.8
2161887.6
16.23872
Call Deposits
700780.2
1097998.2
56.68225
Other Deposits
70913.2
100414.0
41.60128
82
Total Deposit
7500714.8
9195529.6
22.59538
In the above figure, composition of deposits has been shown in the table above. By looking from the above table we can figure out that deposit collection of bank is increasing course. Demand deposits holds around 11.47 % of the total deposit, where as saving deposit consist of around 52% and fixed deposit consist 23.5 % of total deposit. Likewise call deposits consist 12% and other deposit consist of 1.1% of the total deposit. From the above table we can conclude that within short period of year the total deposit has been increased by 22.59%. The highest proportion of fixed and saving deposits is due to the higher interest rate being offered in these deposits.
Mobilization of Deposit In simple terms Deposit is the claim of customer over the bank on their account. When bank collects deposit bank has to pay certain interest to the customer for putting his resources over the bank. Hence in order to pay interest of the depositors bank mobilize the funds deposited by the depositors. Basically there are two way through which bank mobilize the available funds a. Making Finances/ Lending’s Principally, banks mobilize the deposit through making finance to loan, because of positive return of loan, which can be substantial source of return. While mobilizing deposit over lending bank helps provide opportunity to productive sector to have working capital create working capital for business as bank never invest their deposit over toward unproductive sector as they are always afraid about failure of a sector. This helps gradually strengthens the particular sector and finally overall national economy is benefited. b. Investing in various financial markets Here the investment functions are usually performed by Treasury Office of the entire bank. Mostly Treasury invests deposit for, 83
i. Ensuring optimum utilization of available resources. ii. Rising additional resources required for meeting credit demands. iii. Managing market and liquidity risks The available investment markets for the bank would be money market, capital market and foreign exchange market. By investing on bank tries to get optimum profit, that must be great than the cost of acquire deposit, so that they can grant loan to the market at the same time.
SECTION III 1. Conceptual framework The objective of deposit marketing is to increase develop brand equity, to increase the client base, and increase the funds which PCBL, would be efficiently using for its growth and further development. Basically, there are various approaches that could have been done for deposit marketing. The best possible approach would be a. Personal Marketing I used this approach for deposit marketing where, I promoted the banks products and service to public and corporate organization, staying at CSD in those cases, where potential clients visited banks by themselves to understand the current products and services and benefits. At the very moment, I explained and presented them each product and their benefits of plus at the end I used to ask them about their requirement, and then I tried matching the products with their requirement. Finally provide them my offer my opinion regarding the best possible match. For example, If an ABC organization wants to deposit huge funds and want to have benefit of daily interest. Initially, my question to the client would be about the how much funds would they be depositing, because in this case, for an organization, banks cannot 84
provide saving account, until and unless they are non profit making organization. For Profit making organization, banks can provide, current account, but that current account won’t be appropriate because they are asking for daily interest. In my opinion regarding the best possible match would be Call account or Call option, because bank can provide interest on daily basis, if an organization promises to maintain deposit balance of huge amount.
b. Enterprises Marketing This approach is a bit complex for marketing, where one needs to look through the market and identify and then select the potential client plus search for the concerned person. Then after a formal proposal is made in the name of the organization explaining, about the possible products that would be provide benefit to them. This approach is a kind of exploratory approach where traveling should be made. c. Door to Door Marketing Another significant approach, for deposit marketing used for deposit marketing was Door to Door marketing. About 60% of my clients were the outcome of door to door marketing. For public deposit, I initially visited doors of my relative, and then my friends from which I was successful to develop 30 clients. For Corporate marketing, I had to travel within New Baneshwor, Min Bhawan, Bijulibazar and Anamnagar and pay visit to potential organization, by planning my route. From door to door marketing I learnt most of the things; it was one of the most precious experiences of my life. d. Tele Marketing Tele marketing approach was basically used for following up the previously visited clients. From Tele marketing, I would understand their inquisitives for PCBL products and services.
85
These four approaches were basically carried out while performing Deposit Marketing for PCBL, New Baneshwor Branch.
SECTION IV 1. The Methodology and Procedures of Deposit Marketing At the beginning my mind was clean regarding starting deposit marketing so I sat down and started to think how to do it and from where should I starting it. For the procedure, I used to take a look around the New Baneshwor market for corporate clients and note down the potential corporate clients. Then I after divided the organization on the basis of their nature. The decided the organization on the following basis a. Financial Institution b. Education Consultancy c. Insurance Company d. Advertisement Company e. Pathology labs and Clinique f. Trading company g. Tours and Travels h. Employment Overseas i. Media Houses j. Investment Companies k. Computer services l. Automobiles Dealers. 86
m. School and Colleges After dividing the potential organization, I started to analyze the available product that can be offered to those organizations. There various relevant products were a. Current Account b. Staff Salary Account c. Fixed Deposit d. Call Account e. Swift Transfer / TT These were the basic products which would be relevant to the corporate clients. For Financial Institution such as Saving and Co operative organization, Call account was appropriate, because as PCBL was providing interest to these accounts from 4% to 8% on daily balance, which was very appealing for them. While going for call account, we visited more thirty five financial institutions. As in term of Insurance companies, I presented Fixed Deposit Account with a better interest rate, more than published rate by taking authority and having short discussion with branch manager. One of the prime potential clients was Shikhar Insurance; where I talked with Mr. Binesh Maskey for (Fixed Deposit) FD for NPR 1 crores, but later Shikhar Insurance happen to deposit Rs 10 lakhs for period of 16 months. For education consultancy, I planned SWIFT transfer and Current account with benefit of Staff Salary account as the possible product. Though our bank had SWIFT service, PCBL New Baneshwor didn’t have clients for SWIFT transfer, so in other words, the SWIFT service wasn’t in use. I visited most of the education consultancies situated at New Baneshwor areas and likewise, as an outcome I along with another intern, was successful in finding client Mr. Dilip Shrestha of International Multi Trade, who used SWIFT transfer service from the branch for the first time. Hence I can say that I was able to bring the first client for swift transfer, who transferred around more than 50000 Euros to Cyprus. This was one of my best achievements, during my deposit marketing experience.
87
Similarly, I planned to target business house, pathology labs and Clinique, media house, school and colleges, automobile dealers, and tours and travel with Current Account with Staff Salary account as complementary.
The procedure for deposit marketing, explained about can be made in following points Table 18: Procedure of Deposit Marketing
1. Diving the Market into Segment 2. Identify the Available Clients in the Segments 3. Understanding the Nature of Business Procedure of Deposit Marketing
4. Selecting the potential clients 5. Understanding
their
basic
Financial
Service
requirements 6. Determining the useful product for the Clients on the basis of their requirements 7. Explaining the benefits and Comparative advantage 8. Converting into actual clients / Taking Feed back
These are the procedure regarding deposit marketing. For deposit marketing I generally used four approach, direct marketing, door to door marketing, enterprise marketing and telephone marketing. In terms of door to door marketing I used to visit around more than ten organizations on average. Before beginning door to door marketing I used to travel around the market and understand it geography and then divide the market into Segments as per convince. Then after I used to identify the about all the positioned clients and then try to understand their business.
88
After identify, I used to classify the clients on the basis of their goodwill, because there are clients in the market whom can only be serve by the high profile Banks only, so I tried to eliminate those organization from my list. Clients who couldn’t be entertained by PCBL would be classified on the basis of their goodwill, organization structure and general discussion with relationship manager. For example, DHL Express. Though DHL express was within our vicinity, we knew that those companies where Multi National Corporations (MNC) whom our bank couldn’t entertain financial services in terms of cost. These are big companies who require Over Draft (OD) without collateral at lower cost. Since PCBL is new commercial bank, it cannot provide OD facility to its clients without collateral and the cost of OD at PCBL because, PCBL is new commercial bank as it hasn’t able to cater its service in larger quantity like other high profile banks such as Everest Bank, Standard Charted Bank. Then after selecting the potential clients, I would go for door to door marketing, through general inquiry with financial manager, I used to understand their financial requirement and with which bank they are working with. After identifying their requirement, I used to offer and then present them our service with comparative advantage in general, basically explaining what other banks are offering. Study about the competitors, within the vicinity is made before approaching to the customer. When I finish my presentation, I would ask for their response, generally in big house organization, they would take time to discuss in their board meeting. Later after some couple of days I use to take feedback either from phone calls or even from visiting their office once again. Majority of time I used to take feedback from visiting the office. This is the general procedure, how I followed during my Deposit marketing at PCBL, in order to meet the targeted objective of my internship.
89
SECTION V 1. Observation of Deposit Marketing. My internship at PCBL, I one of the good real life experience that I ever had, which is very important to management student like me. Working out for deposit marketing as specific assignment, helped me to analyze my skills knowledge and my capabilities. I generally use personal selling, door to door marketing, enterprises marketing and telephone marketing for deposit marketing. In order to make my observation more systematic and scientific, I would divide my observation as below, Table 19: Observation in Deposit Marketing
a. Observation of PCBL Environment b. Observation of Local Banking Culture Observation
in
Deposit Marketing
relation
to c. Observation of Competitors d. Observation of Clients e. Observation of Clients Needs.
a. Observation of PCBL environment Observation of PCBL environment can be divided into external environment and internal environment. I worked in New Baneshwor Branch, and during ten weeks of internship, I was able to observe both internal and external environment. In terms of external 90
environment, as 21st bank of the economy, it has to face many challenges and competition from various deep rooted strong competitors of New Baneshwor. Equally bank is more open to potential rising market, as the local transactions of Baneshwor is increasing and bring more opportunities within it. Internal Environment about the branch, I would say the management is successful to adapt efficient human resource management at low cost strategy. The New Baneshwor branch human resources consist of ten full time employees from Branch Manager to General assistant. I have observed good synergy and bonding between the employees, that is essential for team work for providing outstanding output. b. Observation of Local Banking Culture New Baneshwor is rising market of Kathmandu, where the transaction of economy is increasing as the market size is increasing, with innovation business ideas compared to past. Talking about the banking culture, rather than bank people are more attracted towards financial institution such as Saving and Cooperative and Finance Companies, because of their Door to Door service (for collecting financial resources from customers which Commercial Bank cannot provide) and the higher interest rate for deposit. As the Nature of local market they are more inclined towards C class and D class financial institution. c. Observation of Competitors Since New Baneshwor market potential and capacity is increasing, more and more banks are coming up with innovative ideas to increase gain market share. About the competitors, the strongest competitor would be Everest Bank, Standard Charted Bank. As from my marketing observation and interaction with clients, Everest Bank has the highest base of customer portfolio and was able to develop good relationship. Likewise, Nabil Bank, Nepal Investment Bank and Himalayan Bank are in process to build their branch in New Baneshwor. d. Observation of Nature of Clients
91
During my specific assignment, I came to know about the nature of clients and their business with close eye view. I visited and dealt with Financial Institution, Education Consultancy, Insurance Company, Advertisement Agencies, Pathology labs and Clinique, Trading company, Tours and Travels, Employment Overseas, Media Houses, Investment Companies, Computer services, Automobiles Dealers, School and Colleges. The New Market was much more diverse in term of nature of business within the market. e. Observation of Clients Needs. Performing marketing helped me to analyze and understand the customer perspective towards understanding their needs, regarding banks financial services and products. As from my experience I have divided my clients as Individual clients and corporate clients. Both of these clients have different needs, but few aspect of requirement was similar. For Individual clients, interest offered on deposits was the important factor along with other services such as and ATM/ Debit Card. From my experience, I was successful bring individual clients, because of ATM/ Debit cards as they were highly attracted towards ATM/ Debit card. For Corporate clients, the important factors would be Evening Counter Service, Interest Offered, Minimum Balance and Personalized Service. Major of Financial Institution, were seeking from Late Evening counter and Personalized service. Similarly, Minimum Balance requirement also helped us to develop new relationship with new clients. As for the current account for established banks the minimum requirement for a current account is around Rs. 20000 in average, where as PCBL current accounts minimum balance requirement is Rs.5000, where we explained the clients that Rs.15000 can be added to their working capital, enhancing their business efficiency.
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SECTION IV 1. Conclusions of Deposit Marketing
Prior to executing deposit marketing I have planned conceptual framework, gone through some literatures and used methodology. My methodology I basically based on need sensitivity analysis of the targeted customer. Around 80% of Deposit marketing was based on the Planning and remaining 20% my Deposit marketing was based on experiment basis. For developing methodology, I targeted clients and their nature, type and size and considerably divided my products and service that PCBL can offer. Through analyzing the needs of the clients in general, I made a systematic approach of serving different financial service and products to different customer as per their requirement, that can be successful in the deposit marketing approach and as outcome I was capable enough to achieve targeted objective. By the end of my internship, I was able to develop client base of 118 accounts and deposit base of 1.29 million, from both individual client and corporate clients by offering, different saving account, Current account (CA), Staff Salary accounts (SSA), Call Account (CC) and Swift Transfer. For example, if an organization is Educational Consultancy, I would have basically three financial products and service to offer that would be Current Account, Staff Salary Account and Swift Transfer as other products such as Call Account, Prime Gold Saving wouldn’t be appropriate to them. My Planning of methodology was based on Need Sensitive analysis because I believed to work for deposit marketing with concept and approach of “ONE SHOT ONE HIT” rather consequently trying “HIT AND TRIAL” approach and method. As I couldn’t afford to follow hit and trial approach because, it would cost considerable time, effort and resources which are always finite and limited.
93
Hence I carried out Need Sensitive Analysis for Deposit Marketing task, which turned out to be successful. 2.
Recommendations of Deposit Marketing
Being 21st commercial bank of Nepal, PCBL has to face cut throat competition in the market. Due to higher density of available commercial bank in the market, each commercial banks are fighting with each other to better prove own self. Competition has risen in that level where every bank should carefully plan their strategies and activities. Likewise PCBL management is using pause/proceed stability strategy, to survive in this intense market, which is safer approach for the banks safety and regulations. This approach might be better in the current scenario, but if we think about the future scenario, then I would say PCBL, is losing the race in terms growth, opportunities and brand equity. Marketing activities of the PCBL is considerably low compared to other new commercial banks. Similarly advertisement promotion of the banks should increase along with effective promotional campaign in the market. Bank should be highly concerned for developing brand equity in the market and maintaining long term relationships, with their clients. PCBL as new commercial should come up with more innovation products and schemes with better offers and benefits which can attract more customers and that would be medium for the bank to develop long term relationship with its potential customer. PCBL management wishes to improve its deposit base, as strong deposit base is highly required for new commercial bank. This can be achieved by focusing more on potential depositors need and developing products relative to them. At the same time PCBL, should focus on promoting new kinds of innovative products, targeted for potential depositors.
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REFLECTIONS Conclusion of Internship An internship is an educational plan which integrates classroom knowledge and practical work experience in industrial, business, or government work situations.
It allows
students to have opportunity to imply academic theories and principles to action, to test out career interests and to develop skills and abilities through carefully planned and supervised programs related to the career of their choice. Through my internship experience at PCBL, I was successful enough to achieve my internship objective that was targeted and planned. I earlier had planned for Credit Department at Head Office at New Road, but I had to work at the New Baneshwor Branch, where I got more exposure and more experience, than I would have received in Head Office, as from my experience I came to know that branch are generally more open and it posses high opportunity for intern to learn banking function than in Head office. Ten weeks later I finished my internship working under Customer Service Department and Deposit Marketing, and I must compliment as a wonderful experience. My objective was to get a deposit base of more than Rs. 10 million or Rs. 1 crore, similarly to have clients base of more than 100 clients. By the end of my internship I was successful enough to bring total deposit of Rs 12.9 million (Rs 1.29 crore) and clients base of 118 clients, which is one of my greatest achievement so far. Likewise, I along with another intern was successful to bring first clients to initiate first SWIFT transfer from the bank and was even successful enough to bring first client for Staff Salary Saving account. During my internship opportunity I was able to understand the corporate work culture, environment through managerial perspective, being able to cooperate and comprehend the true concept of working with people in a team. I also came to understand where I 95
really stand in terms of my knowledge, analytical skills, communication skills, ability and my intern strength to accept and succeed challenges and I also learnt more about responsibility. Regarding Deposit marketing I was successful enough to utilized my concepts of subject matter learnt at college about marketing, sales manages and where as I was able to utilize my ideas of financial management. I also was able to visualize the current scenario of Nepalese financial system. I deliberately learned the majority of operation of Customer Service Department including various task from attending customers to managing their information system. I came across my strength and weakness and fortunately I had opportunity to turn my weakness in to strength. I somewhat discover my internal strength and further capitalize on those strength to develop relationship with the clients. At PCBL, I found everyone to be honest, polite along with good work ethics, and much more I was able to see the practical implication of Organizational behavior that I learnt within the closed four walls of classroom. All my knowledge that I have learnt at class of KCM turned out to be managerial tools and now I have learned to use these tools efficiently and effectively as per requirement. I believe my experience at PCBL will sure guide me in my future career. I am grateful and proud to have internship at good organization like Prime Commercial Bank Limited.
BIBLIOGRAPHY 96
References •
Peter S. Ross (1999), Commercial Bank Management, Fourth Edition, Finance Series, Mc-Graw Hill, International Edition, Library of Congress Cataloging-in-Publication Data.
•
Stephen A Ross (2003) Fundamentals of Corporate Finance, Tata McGrawHill Edition, Sixth Edition, Tata McGraw- Hill Publishing Company Limited, New Delhi.
•
Philip Kotler and Gary Armstrong (2006) Principles of Marketing, Eleventh Edition, Pearson Education, Sanat Publications Limited.
•
NRB (2008), Banks and Financial Institution statistics, Mid April 2009
•
Annual Reports of Various Banks and Financial Institutions
•
Brochure. Prime Commercial Bank
•
Nepal Rastra Bank, Banking and Financial Statistics Department Commercial Banking Statistics, Different Issues, Kathmandu, Nepal.
Appendix I
97
Personal Relation Developed During Deposit Marketing S.N Name of Person 1. 2. 3. 4. 5. 6.
Organization
Product Proposed FD CA, SSA CA CA,CC,OD,SSA CA,SSA Edu, CA,SSA,OD
Binesh Maskey Narayan Prajuli Suraj Koirala Arjun Karki Suresh Khakurel Sudip Budhathoki
Shikhar Insurance Prudential Oversea P. Ltd Shuba Laxmi Marketing Mero Mobile Sankalpa Prof. Academy Naya Patrika, Einstein
Bibek Adhikari Kiran Shrestha Maneesh K. Singh Dipendra Khatiwada Suresh Sing Ramesh Raut Nasa Institute Cambridge Institute G.P Aryal Ashok Siwakoti Rabin Dahal Rajesh Shrestha
Conslt Alfa Beta Edu Consultancy Casion Everest Broad link Networks and Com. Mercantile Commodity Exchange Smart Snack and Food Pvt Ltd. Water Communications Ujwal Siwakoti Gopal Bhandari Everest Hotel National Cooperative Bank Ltd Nobel Academy Deep Laxmi ( Hyundai Auth
CA,SSA,CC CA,CC,SSA CA,SSA CC,CA,SSA CA.SSA,CC CA,SSA CA,SSA,SWIFT CA, SSA,OD OD,CA,CC,SSA CC CA,SSA,CC,OD CA,SSA,AL
19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37.
Suraj Adhikari Joseph Sebastian Min Prasad Lamsal Nilima Shahi Salina Poudel Raju Shrestha Dr. Dilip Kumar Jha Deepak Shah Surya Thapa Hitler Bishet Madhusudhan Jangam Prabal Saakha Gyanendra Basnet Kumari Rana Pramila Singh Ishwor Adhikari Ishwor Adhikari Sanu Mal Lamsal Ram Gautam
Dealer) Gurkha Re employment P. Ltd Boss Magazine Thopa Thopa Saving and Co. Ltd Deep Jyoti Saving and Co. Ltd Safalta Int’l Edu Consultancy Flying Institute Baneshwor Dental Care Center Radio Audio Pvt. Ltd. Beijing Garden P Ltd Hamro Sanchiti Multi- Coop Ltd. TAFE Vocal Institute SAU Automobile ACME Holiday Tours Pvt. Ltd Galactic Edu Service Pvt. Ltd EPS School Patshala Academy Pvt Ltd Columbus College Pvt. Ltd Sona Saving and Coop Pvt. Ltd Gautamshress Multi Coop Pvt.
CA, SSA, CC CA,SSA CC CC,FD SWIFT,CA,SSA CA,SSA, PG PG CA, SSA CA, SSA CC CA,SSA CA,SSA,OD,LC PS,CA,SSA CA,SSA CA,SSA CA,SSA CA,SSA CC CC
38.
Sunil Kharel
Ltd Aphanta Saving and Coop Pvt CC
7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18.
Ltd. 98
39. 40. 41.
Bijaya Dhakal Nabaraj Bajgain Dilip Shrestha
Kopila Saving and Coop Pvt. Ltd CC Buddha Academic Pvt Ltd CA,SSA, OD International Multi-Trade. Pvt CA,SSA,SWIFT
42. 43. 44. 45. 46. 47. 48. 49. 50.
Komal Upadhaya Dikshyant Bhatta Rajan Khadka Youba Bhatta Manish Ghimire Dev Anamani Raju K.C Nikhil Agrawal Bhisma Bhandari
Ltd. Group 4 Falck Nepal P Ltd. Budhanilkantha Intl. Academy (Nd’s )Baneshwor Café P. Ltd SAGIP Consultancy P. Ltd Motif Edu Consultancy P. Ltd Anamani Edu Consultancy P. Ltd Swayam Intl P. Ltd (NIIT) Info Edge P. Ltd Nepal Korea Dongsan P. Ltd
PG,PS CA,SSA CA,SSA CA,SSA, SWIFT CA,SSA,SWIFT CA,SSA,SWIFT CA,SSA,OD CA,SSA, OD CA,SSA
During my internship, I had an opportunity to develop personal relationship, with more than five hundred clients both individual and corporate clients from New Baneshwor, Bijulibazar, Min Bhawan, Shanti Nagar and Anamnagar. Above table shows the prime customer, with whom I was able to develop personal relationship,
Appendix II Internship Goals I Kushal Sundar Shrestha currently pursuing my Bachelor’s of Business Administration (B.B.A) from Kathmandu College of Management affiliated to Kathmandu University has a vision of becoming a nation’s top businessman of the future, having conglomerate business With respect to future mission and vision, I thought of joining KCM to have the best possible course of management with the expectation to have wide exposure to the Nepalese corporate world that would reflects for proper entrepreneurial development. The college also holds various events which helps a student having vision and mission to develop their leadership skills as well as volunteer in different seminars so that the students can be updated with the recent happenings of the world and provides various internship opportunities so that the student can develop a proper mixture of the 99
theoretical knowledge as well as practical application in the real environment. The internship will help me to get accustomed to the working culture of a corporation which will be of great contribution in my future. Moreover this internship experience would grant be a wonderful platform to get exposure of corporate culture, which would help me to learn the effective functioning real life Corporation. My academic goal of my life is to complete my Master’s of Business Administration (M.B.A) from a reputed university from Asia and complete my Bachelors of Business Administration from Kathmandu College of management with good CGPA of 3.5. Along with my studies, I had managed by family business and had contributed my 40% time to the business and remaining part to my studies, so that I could imply the effective techniques learnt from the closed four walls of college to real world business and has helped me to comprehend and manage the business from finance to human resources with the help of managerial techniques learnt from the class. My real business experience has made me to be more specific about my future vision. From a Business aspects, banks has been a crucial external part of an organization, as i learnt from my business experience, that an Organization cannot thrive, until and unless its financed as supported by the bank. With the motive to learn the banking culture and their organization, I planned to do my internship at one of the commercial bank of Nepal. As part of my internship, I am positioned in Customer Service Departments at Prime Commercial Bank Limited New Baneshwor branch. Even though I had experience of dealing with customer in my organization from sales manager level, I got more opportunity to interact with the customers and understand their behavior from bird eye view. I had good opportunity to handle customer, their queries, dissatisfaction and receive insight about the product and services about other banks and their interest rates which is of great aid to competitive analysis of banks in Nepal, which I would be analyzing in my internship report. From my business experience I believed that for a business venture to be successful, one needs to be close to its customer. My perception was made more clear when I had further work experience at the customer service department at the bank, where management always believe that the success of any organization lies in providing maximum satisfaction to the customer and maintaining long term relationship. The internship program helps a lot in achieving my targeted goals. 100
During this internship I received exposure opportunity, where I got to imply practical approach to the theoretical management skills learnt in the classes and orientation to the real working scenario, realizing the work pressure and the team commitment to complete the task allotted within the prescribed time limit. The work allotted can’t be procrastinated and have to completed within the prescribed time else it can lead to harmful results and ultimately lead to loss of jobs. Being an under graduate I get to be accustomed to the corporate working conditions which can further illustrated by an experience during the internship period. During my 23year of life experience I have came across various obstacle and hindrance, but I am happy that these tough experience made me bold and tougher both mentally and physically. I finished my school leaving certificate (SLC) with First Division from Dipendra Police Higher Secondary Boarding School, Sanga Kavre, where I spent about ten years of boarding life. Likewise about my Higher Education, I finished my Higher Schooling from United Academy, Kumaripati, Lalitpur with First Division. In order to purse my future goal, vision and mission, I joined Kathmandu College of Management for my BBA. I believe this was one of my wisest decisions that I have ever made in terms of pursing my future dream, of becoming a prominent Businessman. From KCM, I had various opportunities to develop entrepreneur, manager and leadership skills. I had taken part in Annual General Meeting (AGM) of Development and Credit Bank Limited (DCBL) along with AGM of Management Association of Nepal (MAN). Similarly I got wonderful opportunity to be Vice President of Junior Achievers forum, and other many activities. Likewise in terms of Entrepreneurship, I got terrific opportunity to run college canteen as project assignment, for a semester, along with my some of my classmate, where I was assigned as Chief Executive Officer (CEO). This opportunity helped me to demonstrate and develop entrepreneur and leadership capabilities. Under this project, we had taken loan of Rs 40000 from Student Council, where we paid Rs. 10000 on the first month of operation. In my life I am most grateful to the god for almighty first by giving me courage to all the hindrances of my life, my parents who have always been an inspirations for me and guided my path when I was in a state of dilemma and lastly to my college Kathmandu 101
College of Management by providing various opportunities to develop my strengths and overcome the major weakness in me and my personality. I am also grateful to all those individuals and institutions that have played a major part in my life and helped me to shape my personality and opinions. The most important thing in my life at the moment is to complete my internship at Prime Commercial Bank and accomplish my targeted objective. I have great expectation to learn many things from the bank about the corporate world and culture. This very internship will also provide me break to build personal relation with many prime people and organization, which would be beneficial for my future. Before I finish I am greatly thankful to god, family and friends who have always been with me and been a source of motivation for me and always expect me to achieve and fulfill my dream and who supported me when I had intricacy.
Appendix III Interview with Supervisor The Prime Commercial Bank limited was incorporated on September 24, 2007 and commenced its operations from the same day. With the concept of providing banking service to everyone, the bank was started from eminent professionals having years of experience in the hospitality industry mainly banks and hotels. The catch line of the bank is “Sharing Dreams and Changing Lives”. The head office of the bank is situated in New Road Kathmandu and have total of 4 branches in the valley including the head office and three other branches in the valley which makes a total of 7 branches at present with new upcoming branches throughout the country. For the purpose of carrying out the survey at the bank I questioned Mr. Geha Ranjan Joshi the PR Manager of Baneshwor branch as well as my supervisor. In order to join a bank or make banking as a career a candidate should be a graduate and have completed masters from any discipline, but commerce is the most preferred stream. The completion of masters only is not sufficient but one should have completed it with at least 60% in aggregate and should be aware with the banking scenario and environment of the country. If a candidate has a prior experience then it will be an added advantage 102
else the candidate should join the bank as a trainee, refine their required skills and then join the bank as a full time employee. With the rising numbers of new upcoming banks the entrance test in the bank is also getting tough, which enable a bank to select the best candidate for them. Along with a written test based on GMAT and SAT basis a group discussion and Personnel Interview is carried out and then only a candidate is appointed to join the bank. Apart from the theoretical knowledge during these three stages of selection a candidate should demonstrate that he is well aware of the market scenarios and conditions which will be an added advantage for the customers. The Relationship Building and Networking skills are considered to be the essential skills that a candidate should have while joining the bank. In all the departments of the bank from customer service to operations, from trade to credit department and every other department, these skills are required in order to carry out the task with effectiveness and efficiency. If a person has these skills then they can interact with other staffs and potential clients of the bank with a great degree of confidence and convert the existing relationship into business relationship. Apart from the Relationship Building and Networking skills the other essential skills required in order to pursue the career in banking sector are willingness to learn new things, able to work under pressure and capable of undertaking challenging works. Apart from the required skills one must be able to prove himself in all the assignments undertaken by him and complete then tasks in the time allotted for him. The time management skills also plays a significant role in the banking career and one must abide by the time allocated for them to complete the required tasks. In order to develop the relationship and networking skills a person should always be extrovert in nature and lay great emphasis on communications skills. The communication plays a vital role in building up relationships with others as well as maintaining cordial relations with other which is often a tougher job, than building relationship. The various tactics in order to develop communication skills are reading newspaper, practicing question and answer discussion, participating in group discussion and communicating with others. The initiation of communication with strangers are often difficult and one should always seek for mutuality among each others in order to begin the communication 103
such as hobbies, sports, magazine or any other ways in which the communication can be started. Once the communication has been started then the foundation of building the relationship has been laid and the relationship can be developed. Therefore in order to develop the communication skills a bank employee should be genuinely interested in the people and look for mutuality with clients. The Prime Commercial Bank Limited started its operations with two other banks starting its operation in short period of time. If compared with other recent bank which started its operations after the establishment of Prime Bank, they have more branches at present but the branch concept of their bank differs from the branch of Prime Bank. The branch of other banks are restricted to the collection of deposit and withdrawals only whereas from every branch of Prime a customer can avail all the services and doesn’t have to go to head office for other services apart from deposits and withdrawals. The large percentage of loan disbursed itself speaks about the success of Prime Commercial Bank Limited. The bank at present is in its expansion phase are coming up with its new fully fledged branches throughout the valley. The rising scope of banking sector with new and innovative products and services being introduced daily aroused Ranjan Sir a banking career. According to the sir “the work in banking sector is interesting and not repetitive as in other private organization, the work to be performed keeps on changing in regular interval and doesn’t make a person life boring doing same type of job daily.” Ranjan Sir worked in Everest Bank Limited before joining Prime bank and gained a lot of experience and knowledge while working in Everest Bank and later got appointment with Prime Bank. He says that while working in bank he gets an opportunity to meet different type of people and build relationship and contacts with them. The rising competition among the banks has created many challenges as well as opportunities which makes banking a successive career if utilized with effectiveness and efficiency. The banking provides an opportunities in many departments and there are different sorts of work available in the bank, with each department asking different level of knowledge and experiences. The different sorts of work available ranges from cash department and 104
tellers to customer service department, from trade finance to retail banking, from administration department to remittance department, from finance department to accounts department and from legal department to reporting department. A candidate must know in which department they wants to work prior joining to the bank and should have the required competencies and skills required for that department. Apart from the nature of work and required qualifications the ability to work constantly under pressure also differs. The cash department requires more focus and concentration than compared with other departments as the teller will be responsible for the mismanagement of the cash. The bank and other financial institutions come under the supervision of Nepal Rastra Bank and are guided by the supervision and laws of the central bank. It’s mandatory for al the financial institutions to abide by the laws and bylaws of Nepal Rastra Bank, to avoid penalties and restrictions of the central bank. Nepal Banker Association under the chairmanship of Mr. Sashin Joshi is the association associated with the commercial banks of Nepal and works for the supervision and development of the financial sector of the economy. It make suggestion and recommendation to the central bank regarding how the desired goal of the government can be made and basically how banking sector can be enhanced and make access to all parts of the country. The Nepal Banker Association is not a political organization, but has its impact on the overall performance of the banking sector of the country. The rising number of banks throughout the country has brought significant changes in the banking industry. The banking sector is flooded with different type of product and services with new product and services coming up on regular basis. Previously the banking sector used to be a banker market. The customer used to come to the bank and avail the banking product and services. The customer was contended with one particular bank and avail the services of only one bank, but in today’s scenario the customer can never be contended with a single bank. The bank used to be a bankers industry but now have shifted towards the customer industry which is the major changes emerging in the banking sector. The rising number of banks in the economy has created many challenges as well as opportunities at the same time. The banks are in cut throat competition, with new and advanced products emerging daily and stiffen the competition among the banks. 105
Apart from keeping the pace with the competition, maintaining and retaining satisfied customer base is another challenge, which the other banks can take the advantage of attract them towards themselves. The rising numbers of bank have also saturated the economy of the country which haves made it difficult for the banks to carry out their operation in an efficient manner. The bank provides with new and innovative products with a thorough professional environment of the organization, which is the most important rewarding thing considered by my supervisor. The scope of banking is increasing on at an alarming speed which provides more opportunities and a good pay scale to almost all the staffs of the banks, which are considered to be the most satisfying factors for most of the employees pursuing in the banking career. The time schedule of the supervisor is not fixed by any extent. He believes in completion of the present work of the bank and leaving the office. He says that if he has completed his work early, then he have the full right to leave the office before the scheduled time of the bank, if not than he have to work for an overtime and complete his work before leaving the office. The normal operating time of the bank is 9:30 A.M – 5:00 P.M (Sunday – Thursday) and 9:30 A.M – 3:00 P.M (Friday) and Saturday is a holiday. The normal working time of the supervisor is 9:30 A.M – 7:00 P.M (Sunday – Thursday) and 9:30 A.M – 5:30 P.M on Friday. The banking sectors acts as a heart of an economy and plays an important role in the development of the economy. In the absence of the banking sector we cant imaging the smooth functioning of any economy. Even the banking gives an employee an international exposure and is affected by the international global cycle, so the scope of the bank is not restricted to the national level only. Therefore everything happening in the economy as well as on international level has its impact on the banking sector, and as bank manager and the employee a banker should keep a close watch on major happening of the world, so as to reduce the negative outcomes of the major changes happening around the globe. If a candidate wants to pursue his or her career in the banking then they should lay a great emphasis on improving their grades at the undergraduate and graduate levels. They should try to score to their potential and keep updated themselves with the recent 106
happenings and events across the globe. Apart from the theoretical knowledge, a candidate should have the practical knowledge and should demonstrate their capabilities in logical reasoning and financial reasoning to justify their view points. If a candidate has worked as a trainee in a commercial bank or a private organization then they are more aware of the actual working scenarios and are more suitable than the others, so a prior work experience can be an extra benefit for a candidate before joining the bank. In conclusion I would like to express my sincere gratitude towards Mr. Geha Ranjan Joshi for sharing his views with me and giving me the required time to complete my survey and answering to my questions patiently and willingly. Without his viewpoints and expertise ideas this survey couldn’t have been completed, and his thoughtful ideas have helped me showed me the direction. His view points have definitely acted as guidance for me.
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About the Author Name
: Kushal Sundar Shrestha
Address
: New Baneshwor, Kathmandu
College
: Kathmandu College of Management
Internship
: Prime Commercial Bank
Email
:
[email protected]
Phone number
: 9851074762
Registration Number
: A005965-05
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