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askari bank
CLASS :
MUSTAFA TAHIR
ROLL NO: 06 (SELF SUPPORT)
M.COM (2008-2010)
DEPARTMENT OF COMMERCE,
UNIVERSITY OF SARGODHA
askari bank
BANK CERTIFICATE
askari bank
askari bank
PREFACE
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ACKNOWLEDGEMENT
Countless thanks to Almighty Allah (The most merciful the most
beneficial). The only creator of universe who enabled me to complete
this report, in spite of various difficulties. All respects to the Holy
askari bank
DEDICATIONS
All the efforts in compiling this report are dedicated To My
Beloved Parents, Brothers, Friends & My Honourable
Faculty Members of Department of Commerce, As they
helped me in this Achievement
askari bank
EXECUTIVE SUMMARY
The Department of Commerce was established in 2005 and offers
Masters and Bachelors degree in Commerce. An important programme
is six to eight weeks internship with any recognized institution.
I decided to take up Askari Commercial Bank Limited for my internship
because its competing bank nowadays and gives a good training to the
internees. So in order to learn more this was my choice.
This report is about my internship that I have undergone at Askari
Commercial Bank Limited Sargodha Branch from 15th June 2009 to
27th July 2009. During my internship I am able to learn practical aspect
of business, and get good working experience.
On the very first day of my internship I reported to Operation Manager
Mr.Farukh Mehmood. He gave me a small introduction of the bank and
introduced me to the staff of the bank. Every internee is rotated among
the banks departments and so was I. This rotation is done in order to
have general concept regarding banks functions, operations and
policies. In this rotation the stay in department is usually a week. I
have learned more about the Bills and Foreign Trade department and
have given below the caption of activities I was involved in during the
period of six weeks.
During my internship I found that Askari Commercial Bank is a best
bank in Sargodha because most of the Exports and Imports in Sargodha
are done through this bank.
Today every customers is the rational customer he knows the value of
money and wants a best return on his money.
Earlier Askari Commercial were able to attract customer due to their
ancillary services like ATM Cards, Credit Cards, Online Banking etc. but
now all the banks are offering these services through their own network
or through third party contracting, so our plus points are no more our
advantages. So the only thing through which ACBL can increase their
deposits are profit rates, because the customers only want maximum
profit on their investment.
askari bank
Table of Contents
1. Industry Introduction
2. An Overview of Organization
- History of Organization
- Nature of Organization
a. Vision Statement
b. Mission Statement
- Main Features
- Competitors
3. Organizational Structure
- Hierarchy Chart
- Number of Employees
- Main Offices
- Introduction of all Departments
- Comments on Organizational Structure
4. Work done by Internee
5. Financial Analysis of Organization
- Financial data of last 5 years
a. Horizontal Analysis
b. Vertical Analysis
- Significance of Ratio
- Components of Ratios (formulae used)
- Horizontal Analysis of Ratios
- Interpretation of Ratios
6. SWOT Analysis
7. Conclusion
askari bank
8. Recommendations
9. Limitations
10. Bibliography
11. Annexes
12. Glossary
1.INTRODUCTION OF INDUSTRY
10
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11
INTRODUCTION OF ASKARI BANK:When the Bank came into being? Its brief History, its Mission, its
Values, and what services it provide to its customers, is discussed in
this part.
ORGANIZATIONAL CHART OF THE BANK:The list of names of management personnel, management hierarchy
and Organ gram of Askari Bank
FIELD OF ACTIVITIES:In what fields, Askari Bank deal. The main fields of activities are Retail
Banking, Consumer Banking, Electronic Banking, Correspondent
Banking, and Treasury and Investment.
MY INTERNSHIP PROGRAM:-
12
askari bank
FINANCIAL ANALYSIS:It consists on horizontal analysis, vertical analysis and financial ratios
of Askari Bank and pros and cons of this analysis.
FINDINGS AND RECOMMENDATIONS:This part contains the Findings and brief recommendations given by me
to the bank.
DEFINITIONS OF BANK
(1) Banks do business of money. Rather banks do business of
lending and
borrowing loans.
receiving
moneys
and
collecting
drafts
for
TYPES OF BANKS
Primarily all banks gather temporarily idle money for the purpose
of lending to other and investment gain in the form of return, profits and
dividends etc. however, due to the verity of resources of money and the
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13
COMMERCIAL BANK:
The commercial banks received deposits from the general public,
which are repayable on demand upon written orders of the depositors.
As their most distinctive feature the commercial banks maintain the
checking accounts for the constitutions.
Te commercial banks are also distinguished for providing shortterm finance to trade, commerce and industry to enable these sectors
to expand their productive activities
MERCHANT BANKS:
Merchant banks are those, which have been mainly financing the
domestic and international trade. During the late 18 t h and early 19 t h
centuries the trade between countries was financed by bill of exchange
by well-reputed merchants houses for which they would charges a
commission for their services
SAVINGS BANKS:
The basic purpose of these banks is to inculcate the habit of saving
in the people the savings banks deposits are not repayable upon
only the written order of depositor but the depositor of his agent has
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14
MORTGAGE BANKS:
These banks mainly deal in loans for acquisition or construction
of real estate against the securities of mortgage.
CONSUMER BANKS :
These banks providing finance for purchasing consumption goods
for the use of Brewers.
INVESTMENT BANKS:
These banks assists business houses and governmental bodies to
raise money through the sale of stocks and bond for usually long term
purposes these banks perform the usual functions of raising deposits of
idle money from the public and finance the business houses other
bodies.
CENTRAL BANKS:
Central banks occupy the unique position in banking structure of
a country because they have been interested with the responsibility of
controlling the money supply, interest rate, and financial market of a
country for the purpose of economic development.
15
askari bank
INTRODUCTION ABOUT BANKING SECTOR
collects,
transfers,
pays,
exchanges,
lends,
invests,
or
companies,
investment
banks,
insurance
companies,
Bank
has
expanded
into
nation-wide
presence
of
121
branches, including 6 dedicated Islamic Banking Branches, and an offshore Banking Unit in Bahrain, A shared network on over 1300 on-line
16
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A.VISION
TO BE THE BANK OF FIRST CHOICE IN THE REGION.
B.OUR MISSION
To
be
the
leading
international
private
presence ,
sector
delivering
service
through
innovative
effective
human
resource
bank
in
quality
technology
management
and
in
standards ,
while
providing
may
already
have
seen
our
advertising
pleasure
identity:
in
sharing
with
you
our
new
Pakistan
with
an
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17
Our shorter, smarter name, crisper new colours and fresh new look are
an insight to our views on banking. We aim to provide innovative
financial solutions to our customers, with the security of knowing they
are dealing with one of the strongest financial institutions in the
country. Our new slogan
OBJECTIVES
To achieve sustained growth and profitability in all areas of business.
To build and sustain a high performance culture, with a continuous
improvement focus.
To develop a customer-service oriented culture with special emphasis
on customer care and convenience.
To build an enabling environment, where employees are motivated to
contribute to their full potential.
To effectively manage and mitigate all kinds of risks inherent in the
banking business.
To maximize use of technology to ensure cost-effective operations,
efficient management information system, enhanced delivery capability
and high service standards.
To manage the Banks portfolio of businesses to achieve strong and
sustainable shareholder returns and to continuously build shareholder
value.
To deliver timely solutions that best meets the customers financial
needs.
To explore new avenues for growth and profitability.
STRATEGIC PLANNING
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18
MAIN FEATURES
FIELD OF ACTIVITIES
1.
2.
3.
4.
5.
Retail Banking
Consumer Banking
Electronic Banking
Correspondent Banking
Treasury And Investment
1- RETAIL BANKING
I.
II.
III.
IV.
V.
VI.
COMPETITORS
The main competitors of the bank are:
askari bank
Prime Commercial Bank.
HBL Bank
NIB Bank
NBP Bank
Silk Bank
Allied Bank
3.ORGANIZATIONAL STRUCTURE
19
20
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CODE OF ETHICS AND CONDUCT
Presence
of
corporate
culture
that
seeks
to
create
an
expectations.
Fairness,
Truthfulness
and
to
their
responsibilities.
possession
Respect
for
during
the
customers
discharge
confidential
of
their
matters,
merits the same care as does the protection of the Banks own
affairs or other interests.
21
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ORGANIZATIONAL CHART
Chairman
Board of Directors
Chief Executive
Officer
Executive Committee
Executive Incharges
HIERARCHY
22
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CORPORATE INFORMATION
Chairman
Chairman Executive
Committee
Director
Director
Director
Director
Director
Director
Director
Company Secretary
AUDIT COMMITTEE
Chairman
Member
AUDITORS
KPMG Taseer Hadi & Co.
LEGAL ADVISORS
Chartered Accountants
askari bank
Fax:
(021) 5655595
UAN:
111-000-322
(051) 9063000
Fax:
(051) 9272455
EXECUTIVE PROFILES
23
24
askari bank
Mr. Nazimuddin
President
A.
Chaturbhai,
Senior
Executive
Vice
Current Account
Saving/ PLS Account
Royal Profit Account
Term Deposit Account
Basic Banking Account
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25
CURRENT ACCOUNT
The current account is the most common account and the most
preferred amongst business concerns. There is no restriction on the
amount of withdrawal. Current account enables the client to do cash
transactions in a more efficient manner.
Features: Current Accounts can be opened in the ASKARI BANK with the
sum not less than Rs.5,000/ No Profit
No deduction of Zakat
Account close charges Rs.150
Service charges for maintaining minimum balance Rs.100
Online Charges Rs.100
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26
Term Deposit usually for the period of three months, six months,
One year, and five years.
Deduction of Zakat and withholding Tax @ 10%.
REMITTANCES DEPARTMENT
Meaning Of Remittance:Remittance is transfer of funds from one
place to another or from one person to
another.
A Remittance is an important service provided by banks to customers
as well as non-customers. Since it is not a free service it is a source of
income for the bank.
Remitter
Remittee
Issuing Bank
Paying Bank
Remitter:-
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27
Remittee:A remittee is also called the beneficiary, or the payee. The person in
whose name the remittance is made. A remittee is also the one who
receive the payment.
Issuing Bank:The bank that sends or effects the remittance, through demand drafts,
telegraphic transfers, or Mail Transfers.
Paying Bank:Paying Bank also know as the drawee branch. The branch on whom the
instrument is drawn. It has to make the payment (usually located in a
different city country).
Kinds Of Remittances
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28
CLERING DEPARTMENT
Meaning Of Clearing:The word clearing has been derived from the word clear and is
defined as:
A system by which banks exchange cheques
and other negotiable instruments draw n on
each other within a specific area and thereby
secure payment for their clients through the
Clearing House at specified time in an
efficient way.
Clearing House:It is a place where representatives of all banks sit together and
interchange their claims against each other with the help of controlling
staff of NIFT.
It is one of the services provided by NIFT to other commercial banks.
NIFT acts as a clearinghouse. Different banks are the members of the
clearinghouse. A representative of each bank represents his bank in the
clearinghouse.
Each bank has collected cheques as behalf of their customer but these
cheques are not drawn on their own bank so in the clearinghouse, they
hand over these cheques to respective banks on which these cheques
are drawn. Similarly each bank receives cheques from other banks if
any.
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29
TYPES OF CLEARING
There are four types of clearing:1.
2.
3.
4.
Inward Clearing
Outward Clearing
Intercity Clearing
Same Day Clearing
Inward Clearing:Those Cheques and other negotiable instruments which are drawn on
Askari Bank, sent by other banks, constitutes the inward clearing of
Askari Bank. After having all the stamps and dates of cheques
confirmed, the concerned drawers accounts are debited in Askari Bank
limited.
INWARD RETURN:Return may be of any reason: Presentation Flaw e.g. Clearing stamp not affixed or wrong
discharge given by collecting banker.
Defect In The Cheques i.e. Post dated cheques, unauthorized
cutting.
Insufficient Askari Bank ance
Customer Account
SBP Account
In Case Of Return:-
askari bank
Dr.
Cr.
30
SBP Account
Customer Account
M.O Account
SBP Account
In Case Of Return:Dr.
Cr.
SBP Account
M.O Account
Customer Account
M.O Account
In Case Of Return:Dr.
Cr.
M.O Account
Customer Account
Outward Clearing:When cheques and other negotiable instruments drawn upon other
banks like City Bank, MCB, ABN-AMRO or ABL of the same city
(Lahore) are presented in Askari Bank to deposit them in the respective
payees accounts, these instruments are lodged in outward clearing of
Askari Bank.
Outward Return:-
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31
SBP Account
Customer Account
In Case Of Return:Dr.
Cr.
Customer Account
SBP Account
SBP Account
M.O Account
In Case Of Return:Dr.
Cr.
M.O Account
SBP Account
askari bank
Dr.
Cr.
32
M.O Account
Customer Account
In Case Of Return:Dr.
Cr.
Customer Account
M.O Account
Inter City Clearing:The cheques that are presented in inter city clearing are of another city
and received by air. In this type of clearing the bank confirm at that
time that the cheques are clear or not and give to the rider.
Same Day Clearing:The cheques that are presented in same day clearing are the local
cheques and these cheques are clear in same day. Basically it is the
benefit that are provided to customer.
CASH DEPARTMENT
The cash department is the most important department of the bank. It
receives cash from customers and then deposits it into the accounts of
the customers and maintained their Askari Bank ances.
The officers in this department are called teller and there were four
tellers at the counter. This department involves in two activates: Deposit cash in customers account
Make payments from customers account
Deposit Cash In Customers Account:When the customer want to deposit amount in his account at opening of
account or after that then he has to fill a deposit slip that shows the
amount and the account in which the cash will be deposited. Then teller
will receive amount and credit the customers account that shows
increase in customers bank account.
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33
Open Cheques:Open Cheques are those cheques, which are paid across the counter of
the bank. Open cheques may be
Bearer Cheques
Order Cheques.
Bearer Cheque:If the drawer orders the bank to pay a stated sum of money to the
bearer, it is called a bearer cheque. Any person who lawfully possesses
a bearer cheque is entitled to receive payment of that cheque.
Order Cheque:The amount of this cheque is payable to the person whose name is
written on the face of the cheque. The amount is paid at counter after
identification of that person.
Crossed Cheque:The amount of this cheque is not paid at counter. The amount of this
cheque is transferred to the persons account whose name is specified
on the cheque. Two parallel transverse lines are drawn across the face
of the cheque.
General Crossing:-
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34
In case of General Crossing the payment can only be deposited into the
payees account only.
Special Crossing:In case of Special Crossing the payment can only be made to bank
named therein the cheque.
Receiving Of Cheques
Verification Of Signature
Computer Terminal Process
Payment Of Cash
Receiving Of Cheques:The cash is paid against the cheque of the client. The following points
are kept in mind while receiving the cheque from the client.
Verification Of Signature:After receiving the cheque the cheque the officer verify the signature of
the account holder and the signature on the cheque. If the signature is
not same it is returned back otherwise forward to computer terminal.
Computer Terminal Process:The cheque is received in computer terminal, where the computer
operator checks the Askari Bank ance of the account holder. The
operator also sees the stop payment instructions are received from
account holder or not. After considering these points computer operator
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35
post the cheque in account holder ledger and returned back to the
officer.
Payment Of Cash:After posting the cheque the officer cancelled the cheque and returned
back to cashier. The cashier enters the cheque in cash paid registered
and pay against the second signature of receiver on the back of the
cheque.
If the payment is of Rs. 50000 the cashier can make it on its own. If the
amount is greater than Rs. 50000 to Rs. 100,000 the cashier and cash
deposit Incharge will verify the check and will sing it. Then the payment
will be made. But, if the amount is greater than Rs. 100000 to Rs.
1000,000 the manager operation will also verify the check and sign it so
that the payment can be made. If the amount is greater than Rs.
1000,000 the Branch Manager will also verify the check and sign it.
Otherwise the payment will not be made.
36
askari bank
Presence
of
corporate
culture
that
seeks
to
create
an
expectations.
Fairness,
Truthfulness
and
to
their
responsibilities.
possession
Respect
for
during
the
customers
discharge
confidential
of
their
matters,
merits the same care as does the protection of the Banks own
affairs or other interests.
Board of Directors
Chief
benefits from a customer
or Executive
a supplier / vender, which appear pr
Officer
Executive
Employees must remain
alertCommittee
and vigilant with respect frauds,
thefts or illegal activities committed within the Bank premises.
ORGANIZATIONAL
Executive InchargesCHART
37
askari bank
HIERARCHY
CORPORATE INFORMATION
Chairman
Chairman Executive
Committee
Director
Director
Director
Director
Director
Director
Director
Company Secretary
38
askari bank
AUDIT COMMITTEE
Chairman
Member
AUDITORS
KPMG Taseer Hadi & Co.
Chartered Accountants
LEGAL ADVISORS
Fax:
(021) 5655595
UAN:
111-000-322
39
askari bank
AWT Plaza, The Mall,
P.O.Box 1084, Rawalpindi.
Tel :
(051) 9063000
Fax:
(051) 9272455
EXECUTIVE PROFILES
Mr. Nazimuddin
President
A.
Chaturbhai,
Senior
Executive
Vice
askari bank
40
FIELD OF ACTIVITIES
6. Retail Banking
7. Consumer Banking
8. Electronic Banking
9. Correspondent Banking
10.
Treasury And Investment
1- RETAIL BANKING
I.
II.
III.
IV.
V.
VI.
Current Account
Saving/ PLS Account
Royal Profit Account
Term Deposit Account
Basic Banking Account
CURRENT ACCOUNT
The current account is the most common account and the most
preferred amongst business concerns. There is no restriction on the
amount of withdrawal. Current account enables the client to do cash
transactions in a more efficient manner.
with the
askari bank
41
askari bank
42
REMITTANCES DEPARTMENT
Meaning Of Remittance:Remittance is transfer of funds from one
place to another or from one person to
another.
A Remittance is an important service provided by banks to customers
as well as non-customers. Since it is not a free service it is a source of
income for the bank.
Remitter
Remittee
Issuing Bank
Paying Bank
Remittee:A remittee is also called the beneficiary, or the payee. The person in
whose name the remittance is made. A remittee is also the one who
receive the payment.
Issuing Bank:-
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43
The bank that sends or effects the remittance, through demand drafts,
telegraphic transfers, or Mail Transfers.
Paying Bank:Paying Bank also know as the drawee branch. The branch on whom the
instrument is drawn. It has to make the payment (usually located in a
different city country).
Kinds Of Remittances
CLERING DEPARTMENT
Meaning Of Clearing:The word clearing has been derived from the word clear and is
defined as:
A system by which banks exchange cheques
and other negotiable instruments draw n on
each other within a specific area and thereby
secure payment for their clients through the
Clearing House at specified time in an
efficient way.
Explanation:-
askari bank
44
Clearing House:It is a place where representatives of all banks sit together and
interchange their claims against each other with the help of controlling
staff of NIFT.
It is one of the services provided by NIFT to other commercial banks.
NIFT acts as a clearinghouse. Different banks are the members of the
clearinghouse. A representative of each bank represents his bank in the
clearinghouse.
Each bank has collected cheques as behalf of their customer but these
cheques are not drawn on their own bank so in the clearinghouse, they
hand over these cheques to respective banks on which these cheques
are drawn. Similarly each bank receives cheques from other banks if
any.
TYPES OF CLEARING
There are four types of clearing:5.
6.
7.
8.
Inward Clearing
Outward Clearing
Intercity Clearing
Same Day Clearing
Inward Clearing:Those Cheques and other negotiable instruments which are drawn on
Askari Bank, sent by other banks, constitutes the inward clearing of
Askari Bank. After having all the stamps and dates of cheques
askari bank
45
INWARD RETURN:Return may be of any reason: Presentation Flaw e.g. Clearing stamp not affixed or wrong
discharge given by collecting banker.
Defect In The Cheques i.e. Post dated cheques, unauthorized
cutting.
Insufficient Askari Bank ance
Customer Account
SBP Account
In Case Of Return:Dr.
Cr.
SBP Account
Customer Account
M.O Account
SBP Account
In Case Of Return:Dr.
Cr.
SBP Account
M.O Account
askari bank
46
Customer Account
M.O Account
In Case Of Return:Dr.
Cr.
M.O Account
Customer Account
Outward Clearing:When cheques and other negotiable instruments drawn upon other
banks like City Bank, MCB, ABN-AMRO or ABL of the same city
(Lahore) are presented in Askari Bank to deposit them in the respective
payees accounts, these instruments are lodged in outward clearing of
Askari Bank.
askari bank
47
SBP Account
Customer Account
In Case Of Return:Dr.
Cr.
Customer Account
SBP Account
SBP Account
M.O Account
In Case Of Return:Dr.
Cr.
M.O Account
SBP Account
M.O Account
Customer Account
In Case Of Return:Dr.
Cr.
Customer Account
M.O Account
Inter City Clearing:The cheques that are presented in inter city clearing are of another city
and received by air. In this type of clearing the bank confirm at that
time that the cheques are clear or not and give to the rider.
Same Day Clearing:The cheques that are presented in same day clearing are the local
cheques and these cheques are clear in same day. Basically it is the
benefit that are provided to customer.
askari bank
48
CASH DEPARTMENT
The cash department is the most important department of the bank. It
receives cash from customers and then deposits it into the accounts of
the customers and maintained their Askari Bank ances.
The officers in this department are called teller and there were four
tellers at the counter. This department involves in two activates: Deposit cash in customers account
Make payments from customers account
Deposit Cash In Customers Account:When the customer want to deposit amount in his account at opening of
account or after that then he has to fill a deposit slip that shows the
amount and the account in which the cash will be deposited. Then teller
will receive amount and credit the customers account that shows
increase in customers bank account.
Make Payments From Customers Account:When the customer draws a cheque on the bank to pay a certain
amount then teller will debit the customers account that shows
reduction in his account Askari Bank ance.
There are two main types of cheques that are
Open Cheques
Crossed Cheques
Open Cheques:Open Cheques are those cheques, which are paid across the counter of
the bank. Open cheques may be
Bearer Cheques
Order Cheques.
Bearer Cheque:If the drawer orders the bank to pay a stated sum of money to the
bearer, it is called a bearer cheque. Any person who lawfully possesses
a bearer cheque is entitled to receive payment of that cheque.
Order Cheque:The amount of this cheque is payable to the person whose name is
written on the face of the cheque. The amount is paid at counter after
identification of that person.
askari bank
49
Crossed Cheque:The amount of this cheque is not paid at counter. The amount of this
cheque is transferred to the persons account whose name is specified
on the cheque. Two parallel transverse lines are drawn across the face
of the cheque.
General Crossing:In case of General Crossing the payment can only be deposited into the
payees account only.
Special Crossing:In case of Special Crossing the payment can only be made to bank
named therein the cheque.
Receiving Of Cheques
Verification Of Signature
Computer Terminal Process
Payment Of Cash
Receiving Of Cheques:The cash is paid against the cheque of the client. The following points
are kept in mind while receiving the cheque from the client.
Verification Of Signature:-
askari bank
50
After receiving the cheque the cheque the officer verify the signature of
the account holder and the signature on the cheque. If the signature is
not same it is returned back otherwise forward to computer terminal.
Computer Terminal Process:The cheque is received in computer terminal, where the computer
operator checks the Askari Bank ance of the account holder. The
operator also sees the stop payment instructions are received from
account holder or not. After considering these points computer operator
post the cheque in account holder ledger and returned back to the
officer.
Payment Of Cash:After posting the cheque the officer cancelled the cheque and returned
back to cashier. The cashier enters the cheque in cash paid registered
and pay against the second signature of receiver on the back of the
cheque.
If the payment is of Rs. 50000 the cashier can make it on its own. If the
amount is greater than Rs. 50000 to Rs. 100,000 the cashier and cash
deposit Incharge will verify the check and will sing it. Then the payment
will be made. But, if the amount is greater than Rs. 100000 to Rs.
1000,000 the manager operation will also verify the check and sign it so
that the payment can be made. If the amount is greater than Rs.
1000,000 the Branch Manager will also verify the check and sign it.
Otherwise the payment will not be made.
ACCOUNTS DEPARTMENT
This department is responsible to keep the record of each and every
transaction and prepare reports about the amount of deposits and
advances and sent to Head office or State Bank of Pakistan on monthly,
quarterly and yearly basis.
Activities
The accounts department deals with various routine activities for the
bank. The main activities performed by it are:
Budgeting
Vouchers batch
Reporting
Maintenance & depreciation of fixed assets
Miscellaneous functions
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51
Budgeting
The department of a bank, for a year makes budget of every branch.
Fiscal year of bank starts from january 01 and ends on december 31.
the accounts department starts preparing budget from october for the
next year.
voucher batch
The voucher batch mean the all kind of vouchers will be sorted as batch
wise for example current a/c voucher makes sprit batch saving a/c
batch sprit and in the same way third batch Mise a/c and general ledger
a/c voucher makes sprit batches maintained date wise for record of the
bank.
Reporting
The accounts department, in the form of reports, clubs the details of
various departments together. Each and every minute detail is provided
in weekly, monthly and annual reports. The reports are submitted to
head office, SBP and to the government .
The accounts department prepares many reports, of which the most
common are: Statement Of Affairs
Income & Expenditure
Business Report
SBP Report
Outstand Receipt Report
Currency Wise Deposits Report
Miscellaneous Functions
The accounts department also performs some other miscellaneous
functions like
i.
ii.
Closing Entries
Daily activity checking
askari bank
iii.
iv.
52
Report Generation
Minor Expense Recording
Daily Activity Checking:All the operations performed in various departments of Askari Bank
Urdu Bazaar Branch Lahore are computerized. The functions are
performed through the customized software . In order to facilitate
double-checking of all the transactions done, every concerned official
also passes vouchers and cheques manually. At the day end all the
vouchers passed by various officers working in different departments
are given to Accounts Department. Furthermore the I.T. department also
prints a very bulky report of all the transactions / entries which have
been fed into the computer system of the branch that day. When both of
these things are at the desk of concerned officer, he performs the job of
tallying the daily activity report with all the corresponding vouchers and
cheques, in order to track down any discrepancy.
Closing Reports:
Monthly
Monthly
Monthly
Monthly
Monthly
From these statements, five reports carry extreme importance. The five
reports are:-
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askari bank
Minor Expense Recording:The account department of ASKARI BANK Urdu Bazaar Branch has to
record even the minor expenses of the branch like tea for the staff,
stationery for the branch.
Import
Import Department of ASKARI BANK
merchandise. Import can be defined as:
deals
with
the
import
of
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54
Advance Payment
Open Account
Letter Of Credit
A Letter Of Credit is a financial instrument issued by a bank on behalf
of the registered customers It gives surety to the Exporter that his
amount is safe.
The letter of credit is a written instrument
issued by the buyer s bank authorizing the seller
to draw in accordance with certain terms and
conditions.
Importer
Issuing Bank
Exporter (Beneficiary)
Advising Bank
Contract
These are the contracts on which there is no liability of the bank. Bank
charge commission against this service.
Main Reason Of Bank Involvement:Bank involve in contract for that purpose:The record of this foreign exchange entered in State Bank Of Pakistan
(SBP) and this record shows that how many Foreign Exchange go
outside Pakistan that is helpful to count the total imports of Pakistan.
Advance Payment
In mean some part of payment is made before shipment and remaining
is made after shipment. Advance Payment is through TT (Telegraphic
Transfer). But State Bank Of Pakistan allows limit of Rs.10, 000 it
means that Advance Payment does not exceeds Rs.10, 000.
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55
Open Account
Open Account is reciprocal of Advance Payment. In this case importer
first receive the shipment and then make the payment. And there is no
limit involved in open Account. Importer makes payment of any amount.
In open Account there is no as such restrictions from State Bank Of
Pakistan (SBP) importer simply show the document and make payment
after one year means no restriction of time is involved.
In all these four methods Letter of Credit is mostly used in Askari Bank
Urdu Bazaar Branch Lahore.
Export
Exports are major sources of earning foreign exchange and play an
important role in the economic development of the country. It helps to
utilize excess resources of the country.
Exports mean selling goods to another country.
Exports of all eligible commodities through authorized banking channels
are admissible under exchange control regulation.
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askari bank
2. Consumer Banking
Credit Cards
Hilal Card (Debit Card)
Auto Loan
Home Loan
Consumer Durables
RTCs
Money Gram
Agriculture Finance
Credit Cards
Askari Bank Credit Card master card is accepted at nearly 30 million
locations in more than 150 countries around the globe and at over
10,000 establishments in Pakistan.
Once
the
application
form
and
required
documents
have
been
processed and approved, it takes 2-3 weeks time period to reach you.
Its exceptional features are as follows:
No Joining Fee
No Annual / Renewal Fee
Low Service Charges
Askari Bank once Transfer Facility
Global Askari Bank Acceptability
Revolving Credit
Step-By-Step (SBS) Monthly Installment Plan
Free Supplementary Cards
24-Hour Phone Banking Service
All Billing in Pak Rupees
Comprehensive Travel Protection
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askari bank
Monthly Statement of Account
Exciting Rewards
Special Discounts and Promotions at various outlets
DOCUMENTS REQUIRED
For Salaried person: Copy of NIC
Current Salary Slip / Salary Letter / Proof of BPS (For Govt.
Employees) / Proof of rank (For Armed Forces Personnel).
Computerized Personal bank statement (on ban letterhead in
original) for last six months
Additional Documents for Classic Blue Applicants: Proof of minimum six-month experience
Copy of Graduation Certificate or equivalent.
Additional requirements: Partnership deed & personal account statements of the partners
(if any) for last six month.
Bank letter / certificate confirming Proprietorship.
Memorandum / Articles of Association /Form A.
Financial Statements
Recognized professional degree / membership certificate to
professional association.
NO OF EMPLOYEES
01
01
01
01
02
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askari bank
Officer Range II
Officer Range III
Cashier
System Administrator
Telephone Operator
Gun Man
Peons
Driver
05
05
04
01
01
04
03
01
The Account Opening Form:When a client comes to the bank, and makes a request for opening of
an A/C. The officer says that first fill up a prescribed application form.
Completion of The Form:The name, occupation, and complete address of the person opening the
account are written in the columns that are provided in the form.
Signatures are obtained from the customer where it is required. These
signatures should be usual signatures and he would operate the
account with them.
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askari bank
Specimen
Form:-
Signature
Card,
Cheques
Book
Requisition,
Online
Signature Difference Form:The signature of the client are obtained on a signature difference form
if his / her signature differ from the computerized National
Identity Card.
Vernacular Form:The signature of the customer is also obtain on the vernacular form if
he / she signs in a language other than English.
Account Number:When all the formalities are completed then the final approval of
account has to be taken from the Branch Manager. After obtaining
approval of the branch manager an account number is allotted to the
customer all the information is entered into the computer. Then that
account number is write on the Cheque Book, Specimen Signature
cards and account opening form.
Issuance Of A Cheque book:After opening an A/C with the bank, the A/C holder receive a letter of
thanks from askari bank then after receiving this letter client come to
bank and makes a request in the name of bank for the issuance of a
Cheque book. The A/C holder mentions title of A/C, A/C number, sign it
properly. Normally ASKARI BANK issues a Cheque book having 25
leaves for Saving Account and 50 leaves Cheque Book to Current
Account Holder. Every Cheque book also contains one leaf that is used
for another issue of a Cheque book.
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60
Entry Of A Cheque book:Before issuance of a Cheque book, the employee performs certain
functions. They include:
Stamping requisition slip that is in cheque book.
Enters it in the Cheque book issue register.
Check whether or not a senior officer has verified the signatures,
if not then first gets them verified.
After entry in the manual register, the employee issues the Cheque
book to the A/C holder with his/her signature on the register.
TYPES OF ACCOUNT
Accounts Of General Customers
Minor Account
Illiterate Person Account
Joint Account
Individual Account
Proprietorship Account
Partnership Account
Limited Companys Account
Account of Club Societies and Association
Agents Account
Trust Account
MINOR ACCOUNT
Account Opening Procedure:The natural guardian who signs both Account Opening Form and
Specimen Signature Card can open account in the name of minor.
Title Of Account:The title of account should clearly indicate both the names of minor as
well as guardian in the following manner:e.g.
Amir Rafique ( minor) Muhammad Rafique (Guardian)
Special Instructions:The guardian will continue to operate the account even if minor attains
the age of majority.
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61
Account Opening Procedure:Title Of Account:Name of account holder should be written in block form.
Joint Account
These are the account of two or more persons who are neither partners
nor trustees.
Account Opening Procedure:Title Of Account:Title of account holder should mentioned the names of all the joint
account holders.
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62
Special Instruction:At the time of opening the account clear and specific instructions
should be obtained regarding operation of the account and payment of
the Askari Bank ance at the death of one or more joint account holders
in the following manner: The account shall be operate by any joint account holders singly.
By either or survivor singly
By any two or more joint account holders or by any two or more
survivors jointly.
By all the joint account holders jointly
By all the survivors jointly.
These instructions as far as possible should be obtained in handwriting
of the parties concerned, under the signature of all the joint account
holders.
Mode Of Signature: All joint account holders are required to sign as applicant and in
the column of special instructions.
Specimen Signature of only those joint account holders are
required who are authorized to operate the account.
Individual Account
When a single man or woman opens an account in his or her own name
and has the right to operate, it is called individual A/C.
ACCOUNT OPENING PROCEDURE:Title Of Account:Title of Account should mentioned the name of the person who operate
the account.
Special Instructions:At the time of opening the account clear and specific instructions
should be obtained regarding the nominee of the account holder means
after the death of the account holder who will operate the account.
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askari bank
Documents:-
Proprietorship Account
When the owner of the firm operating singly, open an account in his
firm name.
ACCOUNT OPENING PROCEDURE:Title Of Account:Title of account must be in the name of the proprietorship concern.
Partnership Account
Partnership is a relationship between persons who have agreed to
share profits of a business carried on by all or any of them acting for
all.
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64
Account Opening Procedure:Title Of Account:Title of account should be exactly in the same name and style as
mentioned on the memorandum and article of association.
Special Instructions:All the special instructions should be given to the bank in the form of
Resolution of Board of Director.
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65
Trust Account
According to section 3 of Trust Act, 1882:
A trust
ow nership
confidence
the benefit
Account Opening Procedure:Branches are allowed to open the Trust Account subject to the prior
approval of Area Manager, after scrutiny of the legal documents by the
legal advisor.
Title Of Account:The account should be opened in the name of the trust. However, if the
account is opened in the name of the trustees, the account should not
be treated as a joint account, rather it should be treated as a trust
account.
Special Instructions:The Banker should examine the trust deed very carefully. Particular
attention should be paid to the borrowing powers, status of account in
case of death of any trustee or signatory, and provisions for the
appointment of new trustees.
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66
Mode of Signature:All the trustee are required to sign the account opening form, Specimen
Signature Card, and cheque book requisition slip in their official
capacity.
ACCOUNT OPENING PROCEDURE:Title Of Account:Account must be opened in the name of organization in the following
manner:e.g. Islamabad Cricket Association
Operational Instructions: All the parties must be in accordance with the clauses of the
resolution.
In case of death of office bearer, account should be blocked until
new resolution is received.
Documents:
Agent Account
Account Opening Procedure:Title Of Account:Account must be opened in the name of agent.
Special Instructions:-
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askari bank
National
Identity
Card
Clearing Process
Stamps Put On the Cheques:When the cheques are presented in MCB Bank Branch to be deposited
in their respective payees accounts, different stamps are put on
cheques before their lodgment in outward clearing.
Crossing the cheques:Crossing means two parallel lines, drawn across the face of the
cheques with or without words written in between them. Crossing may
be general or special. In clearing, cheques are crossed specially.
Cheques are stamped with banks name between two parallel lines to
constitute special crossing. After the cheques have been crossed
specially, the holder cannot receive payment except through the banker
named on the cheques crossing saves the instrument to go it in illegal
hands. If, crossed cheques is lost or stolen, there is no risk involved.
So it is an effective means of minimizing the risk of loss.
Clearing Stamp:After the cheques have been crossed specially, clearing stamp is put on
the cheques and other instruments, with the next date, so these
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68
Endorsement Stamp:The word endorsement means anything written or printed on the back of
an instrument. So endorsement stamp has to put with words Payees
account Credited in Askari Bank ,sargiodha.
National Institutional Facilitation Authority:After putting these three stamps on cheques & other negotiable
instruments, they are sent to NIFT. NIFT after segregating the cheques
of different banks delivers them to their concerned banks.
Send Report To The Bank:After delivering the cheques to different banks NIFT send report to
ASKARI BANK
sargodha, then the banks staff tally the amount of that report for its
own record.
Delivered Cheques to Respective Banks:Next morning, these cheques are delivered to the respective banks
between 9:00 to 9:30AM. In the same manner, other banks present their
clearing drawn on Askari bank. Total number of cheques and their
amount delivered to other banks and received from them are written on
the Clearing House schedule branch for their payment. After proper
scrutiny of cheques, verification of signatures and confirmation of
balance in the account, the Officer Clearing Department Debit the
customer Account. If any cheque is not passed due to insufficient
balance or any other reason, Officer Cash Department returns the same
cheque by attaching a cheque return memo containing reason for
return.
Credit The Customer Account:If the cheques are clear then the ASKARI BANK credit the customer
Account. If the bank receives the outward return due to any reason then
this cheque is entered into the cheque returned register and bank
charges are deducted according to the schedule of charges.
Then send the outward and return inward as IBDA (Inter Branch Debit
Advise) to Main Branch LDA Plaza. And LDA Plaza sends outward
return and inward to ASKARI BANK Urdu Bazaar Branch, Lahore.
PROCEDURE OF SETTLEMENT
Assume that ASKARI BANK got the cheques which are drawn on HBL,
bank alfalah , and MCB for amount Rs.50, 000/-, Rs.30,000/-,
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askari bank
Settlement sheet:In clearing department this sheet is prepared and contain detail amount
of cheques received, amount of cheques will be paid and balance of
these accounts.
Demand Draft
Demand Draft is a negotiable instrument, which is drawn by one branch
to another branch of the same bank. In case of agency arrangement
Demand Draft can also be issued by one branch of the bank payable to
other branch of the other bank e.g. DD issued by the ASKARI BANK
payable by UBL.
Explanation:If any person wants to make payment from one city to another city then
he can make payment through demand draft. Bank charges a
commission for performing this kind of service according to bank rate
schedule, which is revised after 6 months. Demand draft may be issued
or paid. There are two ways to issue Demand Draft:1. Issue of DD against cash payment
2. Issue of DD against Debit of the account
The current rate schedule of DD is as follows:-
Up to Rs. 10,000
0.25% or Rs.25
Which ever is higher
0.20% or Rs.40
Which ever is higher
0.10% or Rs.200
Which ever is higher
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askari bank
Rs. 10,00,001 to Rs. 20,00,000
Above Rs. 20,00,000
0.75% or Rs.1000
Which ever is higher
0.06% or Rs. 2000
Which ever is higher
Process of the Issuance of DD:When a customer requests ASKARI BANK Urdu Bazaar Branch, Lahore
to provide him a DD made on his account or against cash payment for a
particular city like Islamabad. Then, after having the total amount
including commission demand draft is issued in favor of the specified
person in that city and is drawn on ASKARI BANK , Islamabad Branch.
So, when payee in any bank presents this demand draft, it constitutes
the inward clearing of Askari Bank , Islamabad Branch.
ENTRIES
When ASK ARI BANK receive the Demand Draft then it pass the
following entry:Dr.
Cr.
When ASK ARI BANK issue the Demand Draft then it pass the
following entry:Dr.
Cr.
Then
Dr.
Cr.
Customer Account
Transit Account
Transit Account
Head Office Account with Treasury
Customer Account
Commission on Remittances Account
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askari bank
Dr.
Cr.
Customer Account
Excise Duty Recovered Account
PAY ORDER
Pay order is a negotiable instrument made by the bank, on account of a
customer, to pay on order the specified amount to the directed person
(payee).
Use Of Pay Order:Pay orders are used to make payment or to transfer money, with in the
same city. Pay order is always drawn on the bank that has issued it.
The main advantage of pay order is that it cannot be dishonored by the
bank. Pay order can be endorsed if it is not crossed. The payee may
present pay Order for payment either over the counter for cash payment
or the payee may transfer credit to his account.
The current rate schedule of Pay Order is as follow s:Issuance of Pay Order
Cancellation
Duplicate Issuance
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72
PAY SLIP
It is a negotiable instrument like cheque
issued by the bank on its own account to
pay a specified amount to the directed
person.
Use Of Pay Slip:Pay Slips are used to make payment by the bank itself against certain
expenses incurred; like furniture purchased by bank, electricity
charges.
Example:If bank has purchased furniture (fixed Asset) costing Rs. 40,000 from a
company then a pay slip in the name of that company is made and,
instead of writing the issuing date on pay slip, date of encashment
(realization) is written when it is presented in bank.
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73
COLLECTION
All the cheques under collection are called cheques under Collection in
Askari Bank . There are two types of bills for collection:
Outward Bills for Collection (OBC)
Local Bills for collection (LBC)
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askari bank
Features:
Remunerative
Transfer of funds between cities
Collecting Bank work as an agent
Collecting Bank is the holder in due course
Procedure
All the cheques are received on one counter along with the paying slips
duly filled in properly containing particulars of cheques and account
holder. Counter folio of paying slip is handed over to the customer by
putting stamp for cheque received for collection for Askari Bank on it
duly signed by officer. These cheques are scrutinized and cheques for
local clearing are separated from OBCs. Cheques for local clearing are
entered in Clearing Register, whereas cheques for collection are
entered in OBC register. OBC number is allotted to the cheque from
OBC register. Special crossing and bank endorsement stamps are
affixed on the cheque.
OBC REGISTER
Da te
O BC
No
Titl e O f
Ac c ount
Ac c ou nt
No
Draw n
On
Mai l e d
To
I ns trume nt
No
Am ou nt
Rs
I ni ti a l
OBC schedule is attached with the cheque and dispatched to the main
branch of that city for collection. If they do not have any branch in that
city, then cheque will be sent to the Collecting Agent of Askari Bank for
that city, and if they do not have any collecting agent even, then
cheque can be sent directly to the drawing branch. Instructions are
given on the OBC schedule for the payment of that cheque. Contraliability vouchers are also posted in the system. When OBC is realized,
collection bank pays the amount through IBCA if it is the same bank or
through DD if it is another bank. If DD is received against OBC, it is
presented in the clearing for collection. If IBCA is received from the
branch for the payment of OBC, certain vouchers are posted in the
system.
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OBC REALIZATION
Commission
Postage
Net
Date Of
Amount
Payment
Entries
Lodgment Entries:Dr.
Cr.
Customer Liability
Banker Liability
Realization Entries:Dr.
Cr.
Dr.
Cr.
M.O Account
Customer Account
(For the amount of the instrument)
Dr.
Customer Account
Cr.
Postage Charges
Cr.
Commission on OBC
Initial
Remarks
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askari bank
If any other bank sends a cheque of Askari Bank , it is Inward Bill for
Collection. Askari Bank remits money after checking the balance of the
customer account.
The process of collection starts when the cheques of Askari BankLtd.
Are received from other banks.
Head Office Rawalpindi, which sends the cheques to SBP for clearing
and get the confirmation of cheque and credit advice. Main activity of
clearing is performed by Head Office, which contacts other banks
through SBP.
Entry
Dr.
Cr.
M .O Account
Customer Account
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askari bank
Learning in Home Finance
In Home Finance there was one officer Mr. Kashif. I saw few
customers in this department. I learnt what the debt to equity ratio is in
Home Finance, how to calculate installment, what are the documents
required to get this product, what the eligible criterion is for Home
Finance Agreement, and what is the procedure and activities of this
department. What is that maximum limit. What are requirement to apply
for this Finance.
about Askari BankHome Finance. This can be through a face-toface meeting with our Relationship Officer, or over the telephone,
or through the post.
You give some basic information about your income and the
amount you need so that ASKARI BANK
agreement in principle.
Once you have decided on the amount you want, you complete an
application form and pass it on to us, together with the required
documents.
ASK ARI BANK
circumstances.
It carryout a valuation of the property and verification of your
income.
Once it has carried out all the initial processing, ASKARI BANK
send you our offer through a Facility Advice Letter.
You sign the Facility Advice Letter and return it to ASKARI BANK
Its Documentation Control Centre will get in touch with you to
complete
Finance & Security documentation including legal opinion on the
title documents of the property and also the insurances.
You sign the Finance Agreement and Charge documents.
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askari bank
few
Customers
were
seen
because
this
was
new
department and it will take time to generate profits for the bank.
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askari bank
Type of L/C
Amount
Description Of Goods
Trans-shipped / Part-shipped or not.
Collection Charges
Validity Period Of L/C
Import Process
An L/C form is filled.
The customer prepares insurance document from any insurance
company.
Filled the SBP Application form that is called Appendix B.
Performa Invoice is Prepared.
Undertaking from the customer on letter Head.
Prepare four copies of Form I (Form I explain the detail of import
that are helpful for the SBP.
Approval From Area Office
Prepare voucher and make entries in the system.
Preparation of L/C
These forms are then sent to the Swift Centre of ASKARI BANK .
It
is
the
fastest
and
the
safest
mode
of
financial
These are according to the rules and regulations of UCP500 just like prudential regulations of SBP.
ASKARI
BANK
receives
shipment
documents
and
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askari bank
ASKARI BANK
the importer.
Dr.
Cr.
Current Account
Cr.
Export Procedure:-
Copies Of E-Form
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askari bank
Original: is sent to the custom officer
Duplicate: Bank receive the duplicate
Triplicate: is sent to the State Bank Of Pakistan
from
different
type
of
client
like
sole
proprietorship,
Basic
Fact
Sheet
for
SMEs,
Financial
Statement
of
applicant.
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askari bank
Branches Network
North Region
30
Central Region
41
South Region
44
06
Total Branches
122
06
06
substantial
environment.
earnings
Although
despite
monetary
highly
tightening
competitive
business
helped
reducing
in
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Corporate Banking
This business in managed by a central corporate banking division
based at head office Rawalpindi and Supported by dedicated marketing
and back office units in Karachi, Lahore and Rawalpindi. The division
maintains a diverse portfolio and primarily offers Structured financing
Solutions to cater for the business needs of its clients. During 2006,
corporate
banking
further
expanded
its
customer
base
and
new
Products Lines
Here we discuss the products which are given by us to our customer
facilitations. There is many product as followed.
Is la mi c
Ba nk i ng Se rvi c e s
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askari bank
I slam ic Co rp o rat e
B an kin g
P e rso n a l Fina n ce
Mo rt ga ge Fin an ce
I slam ic I n ve stm en t
B an kin g
B u sin e ss Fina n ce
I slam ic Trad e Fin a n ce
S ma rt Ca sh
I slam ic G en e ra l
B an kin g
A ut o Fina n cin g
Ca sh Ca rd
P rof it / Ma rkup Ra te s
Ag ri c ul ture
Fi na nc e S ol uti ons
I slam ic Co n su me r
B an kin g
K issa n E ve r G ree n
Fina n ce
K issa n Tra cto r Fin an ce
K issa n Aa b pa sh i
Fina n ce
K issa n Live st o ck
Co rpo ra te B an kin g
De ve lo pm en t Fina n ceDivisio n
K issa n Fa rm
Term Lo an s
Me ch an iza t io n Fin an ce
Fu n d Tran sf e rs /
Rem it ta n ce s
K issa n Tra n sp o rt
Fina n ce
In ve st me n t B an kin g
Divisio n
P ro je ct Fina n ce
I sla m ic Fina n ce
Personal Finance
Personal Finance is a parameter driven product
for catering to the needs of the general public
belonging to different segments. One can avail
unlimited opportunities through Askari Bank's
Personal Finance. With unmatched finance
features in terms of loan amount, payback period
and most affordable monthly installments, Askari Bank's Personal
Finance makes sure that one gets the most out of his/her loan.
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askari bank
One of the quickest approval processes around
One can avail unlimited opportunities through Askari Banks Personal
Finance. With unmatched financing features in terms of loan amount,
Product Featuring:
Borrow er:
Facility:
Term Finance
Financing Limits:
Tenor:
Repayment:
Monthly Installments
Markup Rates:
Competitive
Servicing:
Available
Eligibility to Apply:
Age:
Income:
Between 21 to 65 years.
Minimum gross monthly
Financing
10,000/- only.
Maximum upto Rs. 500,000/. (Clean)
Limits:
Employment:
a) Salaried:
Minimum
confirmed
present
income
of
Rs.
length
of
service
with
employer
is
of 1 year service.
SelfMinimum
1
year
business.
in
askari bank
Charges/Fees:
86
When you are working towards your financial goals, how you borrow
can be just as important as how you invest. The right borrowing options
can improve your savings, your cash flow and your ability to take
advantage of personal or business opportunities.
So, choose the right options and call us now to enquire about your
entitlement amount and exclusive service. At Askari bank we make
every effort to serve our customers with care.
Not restricted to new financing, under Personal Finance scheme, we
offer extended facilities, which are:
Back to Original:
Under this scheme borrower can avail extended amount of finance upto
the utilized allocated amount, if his/her repayments are regular.
Computer Loans:
This scheme was launched to promote the I.T. technology in the
country. In this regard, we have signed MOUs with Multinational
companies and large local corporates including schools & colleges.
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askari bank
consumer
financing.
Under
this
scheme,
Askari
Bank
is
limited
resources.
In
addition
to
this,
we
have
also
signed
Mortgage Finance
Askari "Mortgage Finance" offers the convenience of owning a house of
choice, while living in it at its rental value. The installment plan has
carefully
designed
requirements.
enhancing
It
to
has
financing
suit
both
the
budget
been
designed
for
facility
initially
for
&
accommodation
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askari bank
employees
of
corporate
companies
for
purchase/
construction/
renovation of house.
Ever since the inception of life, shelter has been rated among the
primary needs of mankind. Owning a home for oneself still remains an
exclusive dream for many. Askari Bank has made the realization of your
dream to have a house of your very own possible. Whether you plan to
build a house, tailor made to your requirements or buy a constructed
house, Askari mortgage finance enables you to pursue your goal
without any problems
Product Featuring:
Borrow er:
Financing Limits:
Tenor:
Repayment:
Prime Security:
Markup Rates:
Servicing:
Available
Available.
Eligibility to Apply:
Age:
Income:
Between 21 to 65 years.
a) Salaried:
Minimum
gross
monthly
atleast
service
including
employer.
years
of
present
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askari bank
b) Self Employed: Minimum length of 1 years
in business.
Charges/Fee As per current schedule of charges.
s:
Business Finance
In pursuance of the National objectives to revive the economy of the
country, ACBL is providing loans to small and medium size business
enterprises under Askari Bank's Business Finance Scheme. Our goal is
to offer a loan, which enables business community to receive the
financing required by them based on their cash
flows.
Our valued
customers can
enjoy the
Product Featuring:
Borrow er:
Facility:
Financing
Limits:
Primary
Security:
Mode
Financing:
Land.
ofRunning
Finance:
(renewable).
One
year
line
Million
of
credit
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askari bank
Repayment: Running Finance: Monthly debt servicing on the
Markup
Rates:
Servicing: Available at all Askari Bank Branches.
Askari BankAvailable
ance
Transfer
Facility:
Eligibility to Apply:
Age:
21 to 65 Years.
Borrowers:
Resident Pakistani Nationals.
Business Requirements: Maximum
upto
Rs.
500,000/.
Employment:
(Clean)
Minimum one year's business or
professional
Charge/Fees:
experience
present business
As
per
current
in
Schedule
the
of
charges
Enjoy the convenience of most attractive financing with minimum loan
approval turnaround time. Don't wait act now, to enhance your financial
resources
Smart Cash
This personal line of credit would be set up with a specified credit limit
upto Rs. 500,000/-
Product Featuring:
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askari bank
Borrower:
Facility:
Maximum
Financing Limits:
upto
Rs.
500,000/-(Clean)
Tenor:
Monthly
Repayment:
Markup Rates:
Servicing:
Askari Bank ance
Facility:
debt
servicing
on
the
Eligibility to Apply:
Age:
Between 21 to 65 Years.
Income:
only.
Employment: a) Salaried:
Minimum
length
of
confirmed
Minimum
year
in
business.
(against security).
Charges/Fees: As per current schedule of charges.
Auto Financing
Yet another of our products, Askar offers the most convenient and
affordable vehicle- financing scheme, which provides our valuable
customers an opportunity to own a brand new vehicle of their choice.
With minimum down payment, lowest insurance
rates and widest range of available car makes
and models, Askcar offers the best value to our
esteemed customers.
Askari Bank offers you the most convenient and affordable vehicle
financing scheme to help you own your favorite brand new car.
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askari bank
Product Features:
Borrower:
Facility:
Financing Limits:
Monthly Installments
Repayment:
Markup Rates:
Askari
Bank
Competitive
loon
Payment:
Available
Salaried:
Minimum Income:
Auto Insurance:
Financing Tenor
10,000/-,
Charge / Fees:
Rs:
current
Schedule
of
Charges
Mandatory
Up to 7 years
ASKARI CARD
ASKCARD means freedom, comfort, convenience and security, so that
you
can
have
retail
transactions
with
complete
peace
of
mind.
Travelers Cheques
The range of our products and value added services enhances with
introduction of Rupee Travelers Cheques (RTCs) launched in March
2002. In spite of our constraint on issuing higher denomination of RTCs
against restrictions imposed by the Central Bank of Pakistan we have
been striving to attain our shares with sizeable portfolio.
askari bank
93
11.
12.
13.
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askari bank
Profit Rates
2.50%
3%
5%
5.50%
6%
4%
4.50%
5%
Markup Rates
Personal Finance
Upto 3 Years
Upto 5 Years
Smart Cash
1 Year (Renewable)
18%
22%
22%
Business Finance
1 Year
1 Year Kibor + 3% to be
reviewed on yearly basis
Mortgage Finance
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askari bank
20 years maximum
1 Year Kibor + 3% to be
Auto Financing
Islamic Banking was launched under the brand 'Askari Islamic Banking',
by opening 6 dedicated Islamic Banking branches in major cities of the
country. Further expansion is planned with improved capabilities for
offering products conforming to the Shariah principles.
Askari Islamic Banking opens the doors for Halal banking solutions. Our
objective is to put in place an efficient banking system supportive to
economic justice and welfare of society in line with Shariah standards.
A comprehensive range of Islamic Banking products and services is
being
offered,
in
order
to
meet
customer's
demand
of
Shariah
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askari bank
Profit Rate
Ahsan 10,000-99,999
Ahsan 100,000-999,999
Ahsan 1,000,000-9,999,999
Ahsan 10,000,000-49,999,999
Ahsan 50,000,000-99,999,999
Ahsan Masrafi 100,000,000 & Above
Ahsan Masrafi COI 1 Month
AHCAAM 1 Month (100M & above)
AIIC- 3 Months ( Profit at maturity)
AIIC- 6 Months ( Profit at maturity)
AIIC - 1 Year (Profit on monthly basis)
AIIC - 1 Year maturity (Profit at Maturity)
3.04%
4.00%
5.09%
6.36%
9.20%
8.35%
8.95%
10.20%
8.40%
8.50%
8.15%
9.50%
8.40%
8.65%
8.91%
Foreign Currency
97
askari bank
USD Ahsan 3,000-999,999,999
Note: Rates are declared on a monthly basis
1.59%
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askari bank
ASKARI BANK LIMITED
ISLAMIC BANKING SERVICES DIVISION
Date: 31.12.2009
The following will be the declared weight ages, for the Month of
January, 2010.
PKR Accounts:
Account
Weight
Category
group(s)
age
AHSAN
AHSAN
AHSAN
AHSAN
AHSAN
AHSAN
AHSAN
AHSAN
AHSAN
Account
Account
Account
Account
Account
Account
MASRAFI
MASRAFI
MASRAFI
COI
01 Week
Maturity
AHSAN MASRAFI
COI
1.25
1.40
1.60
1.75
01 Month
Maturity
AHSAN MASRAFI
COI
Assigned
0.50
0.75
1.00
1.25
1.40
1.75
1.00
1.40
1.00
02 Weeks
Maturity
AHSAN MASRAFI
COI
10,000 to 99,999
100,000 to 999,999
1,000,000 to 9,999,999
10,000,000 to 49,999,999
50,000,000 to 99,999,999
100,000,000 & Above
10,000,000 to 99,999,999
100,000,000 & Above
10,000,000 and above
03
Months Monthly
AHSAN MASRAFI
99
askari bank
COI
06
Months Monthly
AHCAMM-01
50,000 to 9,999,999
1.30
Month
AHCAMM-01
10,000,000 to 49,999,999
1.50
Month
AHCAMM-01
50,000,000 to 99,999,999
1.60
Month
AHCAMM-01
2.00
3 Months
6 Months
Monthly
Quarterly
Maturity
Monthly
Quarterly
Maturity
Monthly
Quarterly
Maturity
Monthly
Quarterly
Maturity
Maturity
Maturity
Maturity
Maturity
Six monthly
Maturity
Six Monthly
Maturity
Six Monthly
Maturity
1.50
1.55
1.60
1.65
1.70
1.65
1.70
2.10
1.70
1.75
2.15
1.75
1.80
2.20
1.70
1.75
1.80
2.10
1.85
2.15
1.90
2.25
2.00
2.40
0.50
Month
AIIC- 3 Months
AIIC- 6 Months
AIIC- 1 Year
AIIC- 1 Year
AIIC- 1 Year
AIIC- 3 Years
AIIC- 3 Years
AIIC- 3 Years
AIIC- 4 Years
AIIC- 4 Years
AIIC- 4 Years
AIIC- 5 Years
AIIC- 5 Years
AIIC- 5 Years
AKIDA-3 Months
AKIDA- 6 Months
AKIDA- 1 Year
AKIDA- 2 Years
AITQAD- 3 Years
AITQAD - 3Years
AITQAD -5Years
AITQAD - 5Years
AITQAD- 7 Years
AITQAD- 7Years
HO Mudarabah
Account
HO Draw Down
2.00
facility on
Mudarabah
Account
Equity/ Bank
1.00
askari bank
100
101
askari bank
Agriculture Finance Solutions
The
role
of
agriculture
in
Pakistan
geographical
and
climatic
However,
adequate
and
suffer
from
low
productivity
and
financial
insecurity.
broad
array
of
credit
lines
designed
to
meet
farming
requirements.
Availability
of
Collateral.
No Hidden Cost.
leased
Tractors
Transport
without
Land
102
askari bank
No Pre-adjustment penalties.
Insurance
cover
of
leased
assets,
animals,
crops
and
life
assurance of borrowers.
input
requirements
against
one
time
sanction
stipulated
and
to
utilization/periodical
i.e.
Seeds,
Fertilizer
&
Pesticides etc.
103
askari bank
Hassle
free,
automatic
renewal
upon
adjustment
of
entire
104
askari bank
has the added advantage that besides fulfilling his own familys
consumption needs he will be able to market the surplus and earn
additional income. This will further improve their cash flows to repay
their other Loans / Revolving Credit on due date.
The program will provide regular day to day income to the farmer
to meet his own consumption and surplus to be marketed.
This
will
revive
accelerate
and
supplement
the
income
generating capacity.
an
Askari
Kissan
Farm
trailer,
thresher,
drills
rotavators etc.
&
the
105
askari bank
Under this program the farmer will get benefit of use of modern
agricultural tools, implements and equipments which are cost and
time effective.
Helps
to
match
compete
with
international
standards
for
106
askari bank
This will also supplement the income of the farmer which will
ultimately enhance the repayment capacity of the borrower.
banking
approach,
through
Banking
the
Corporate
and
Investment
Group
(CIBG).
for
our
corporate
clientele
in
an
efficient,
dependable,
bank
of
first
call
for
all
your
financial
needs.
askari bank
107
financing solutions, that are practical and cost effective, some of which
include.
Term Loans
Letters of Guarantee
Letters of Credit
Bill Discounting
Export Financing
Receivable Discounting
Strategic Advisory
Privatization Advisory
M & A Advisory
Syndications
Project Finance
Structured Finance
Islamic Finance
108
askari bank
Underwritings
International Division
International
Division
is
entrusted
to
arrange
Askari
Bank
anced
distribution
of
business
amongst
our
correspondents.
In addition and as a part of the ongoing exercise of Know Your
Customer
(KYC)
compliance
with
regard
to
our
correspondents,
109
askari bank
Sw ift/BIC
Express
Bank
Account No
Chennai
ACU Bank of Ceylon , Colombo
BSIR IR TH
216-1-1-6400
15-2000938- 01
ACU Standard
22205306892
Chartered
Bank , SCBL IN BB
Mumbai
ACU State Bank of India , New Delhi
SBIN IN BB 172
09046/031044
BOML AE AD
0195510502
AUD Commonwealth
Bank
of CTBA AU 2S
Australia , Sydney
10000
7701
AUD
112601
ROYC CA T2
CRES
CH
201-383-7
ZZ 919989-53
80A
DKK Danske Bank A/S , Copenhagen
DABA DK KK
3996035360
424-007396907
Frankfurt am Main
EUR Bayerische
69105173
Vereinsbank AG , Munich
EUR Citibank NA , London
CITI GB 22
8562059
400-88-07190-00
Main
EUR Dresdner Bank AG , Frankfurt am DRES DE FF
8 127 815 00
Main
GBP Habibsons Bank Limited , London HSBL GB 2L
21003198
LOYD GB 2L
01001583
04461843
110
askari bank
London
GBP Standard
Chartered
Bank , SCBL GB 2L
01-249443401
London
JPY
American
Express
Bank
Ltd , AEIB JP JX
313001707
Tokyo
JPY
Jeddah
SEK Svenska
Handelsbanken
AB HAND SE SS
99-40-956-709
(publ) , Stockholm
SGD ABN AMRO Bank NV , Singapore
ABNA SG SG
10-0044-115
000718577
York
USD Citibank NA , New York
CITI US 33
3607 9507
HANY US 33
2072-9550
HABB US 33
0021-507008- 091
MSHQ US 33
70119455- 1067
3582-025923- 001
York
by virtue
of
its
leadership,
large
network
and
and
is
another
valuable
financial
solution
reflecting
our
111
askari bank
Entity Ratings
Askari Bank has the following Entity Ratings from the Pakistan Credit
Rating Agency Limited (PACRA):
Short Term
A1+
Long Term
AA+
Definitions By PACRA:
A1+:
Obligations supported by the highest capacity for timely repayment.
AA+:
Very high credit quality. 'AA' ratings denote a very low expectation of
credit risk. they indicate very strong capacity for timely payment of
financial commitments. This capacity is not significantly vulnerable to
foreseeable
events.
denotes
relative
Core Values:
askari bank
112
Commitment
Integrity
Fairness
Team-work
Service
113
askari bank
Asse t s
Ca sh an d Aska ri Ba nk a nce wit h
t re a su ry Ba n ks
Aska ri B an k an ce s wit h Ot h e r
20 09
14 ,8 79 , 23 1
20 08
11, 76 6 ,9 28
7, 33 6 ,8 38
5, 57 8 ,6 54
8, 39 2 ,9 50
10 ,1 97 , 24 2
28 ,5 71 , 96 9
99 ,1 79 , 43 9
3, 82 8 ,8 18
-
25 ,6 18 , 62 0
85 ,9 98 , 64 9
3, 19 8 ,6 66
-
Ba n ks
3, 82 4 ,1 05
16 6, 01 3 ,3 5 0
5 12
14 5, 09 5 ,5 5 8
Lia bi l i tie s
B ills Pa ya b le
1, 83 9 ,0 77
14 ,9 64 , 08 7
1, 31 5 ,6 80
10 ,5 62 , 33 8
Borrow ings
Dep o sit s an d o th e r accou n t s
Su b -o rd in a te loa n s
L ia b ilit ie s a ga in st a sse t s su b je ct t o
f ina n ce lea se
Def erre d ta x lia b ilit ie s
Ot he r Lia b ilit ie s
Ne t As s e ts
13 1, 83 7 ,2 3 0
2, 99 8 ,5 00
4, 44 0
118 ,7 9 4, 15 1
2, 99 9 ,7 00
3, 97 1
7 26 ,4 9 7
5 64 ,3 8 8
2, 60 8 ,3 60
2, 04 7 ,1 00
15 4, 97 8 ,1 9 1
13 6, 28 7 ,3 2 8
11, 03 5 ,1 59
8, 80 8 ,2 30
114
askari bank
20 0 8
12,602,910
8,782,369
M ar k u p / r e t ur n / i n t e r es t e xp e ns e d
6 , 9 7 6 , 7 04
4,276,130
Ne t ma r k u p / i n t e r e s t i n c o me
5 , 6 2 6 , 2 06
4,506,239
P r o vi s i on ag a i n s t no n - pe r f o r m i n g l o a ns
an d ad va n c es - n e t
1 , 1 2 8 , 1 37
63 8 , 5 4 7
P r o vi s i on f o r d i m i n u t i o n in t h e va l u e of
i n ves t m e n t s
B a d d e b t s wr i t t e n o ff d i r ec t l y
37 6
( 3 6 , 5 5 5)
1 , 1 2 8 , 5 13
60 1 , 9 9 2
4 , 4 9 7 , 6 93
3,904,247
1 , 0 2 7 , 4 91
83 8 , 5 8 8
Di vi d e n d i nc o m e
109,326
51,143
I n co m e f r o m d e a l i n g i n f or e i g n
cu rr e n c i es
O t h er i nc o m e
584,344
35 6 , 2 1 8
321,700
20 6 , 8 1 9
2 , 1 5 4 , 6 51
1,552,600
6 , 6 5 2 , 3 44
5,456,847
3 , 3 1 9 , 0 69
2,604,016
6,141
1,832
3 , 3 2 5 , 2 10
2,605,848
3 , 3 2 7 , 1 34
2,850,999
E xt r a o r d i na r y / u n us u a l i t e m s
- - -- - -- -
-- - -- - --
P R O F I T B E F O R E TAX ATI O N
3 , 3 2 7 , 1 34
2,850,999
983,944
62 8 , 7 7 4
(1 8 8 , 2 4 7 )
106,034
19 3 , 7 2 9
1 , 0 8 9 , 9 78
83 4 , 2 5 6
2 , 2 3 7 , 1 56
2,016,743
1 , 6 1 2 , 3 44
1,533,179
M ar k u p / r e t u r n / i n t e r es t e ar n e d
Ne t ma r k u p / i n t e r e s t i n c o me af t e r
p r o vi s i o n s
NO N M AR K - U P / I N TE R E S T I N C O M E
F ee , c o m m i ss i o n a n d b ro k er a g e i n c o m e
Tot a l n o n ma r k - u p / i n t e r e s t i n c o me
NO N M AR K - U P / I N TE R E S T E X P E N S E S
A d m i n i s t r a t i ve e xp en s es
O t h er pr o vi s i o ns / wr i t e o ff
O t h er ch a r ge s
Tot a l n o n - ma r k u p / i n t e r e st
e x p e n s es
Taxa t i o n
F or t h e ye a r C ur r e n t
F or pr i o r ye a r C ur r e n t
-D ef e rr e d
P R O F I T AF T E R TAX ATI O N
I n a p p r o p r i a t e p r o f i t b r o u g h t f o r w a rd
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askari bank
P r o f i t a va i l a b l e f o r a p p r o p r i a t i o n
3 , 8 4 9 , 5 00
3,549,922
2005
2006
2007
2008
2009
shareholders
20.3
23.9
34.8
27.7
22.6
funds
Return on average assets
Profit before tax ratio
Gross spread ratio
Income / expense ratio
Advances to depositsb76
Operating fixed assets to average
1.1
25.6
37.9
1.3
58.1
49.3
1.4
46.7
66.1
1.6
72.6
43.0
2.0
63.3
75.1
1.9
83.9
46.9
1.6
32.5
51.3
1.4
72.4
43.7
1.4
26.6
44.6
1.3
75.2
38.4
9.9
20.0
10.0
5.3
3.9
20.7
8.5
20.0
20.0
6.1
2.1
13.1
11.0
15.0
33.0
9.6
1.2
11.2
10.9
10.0
50.0
9.3
1.0
8.9
RATIOS
Rerurn on
average
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askari bank
TOTAL LOAN *100
------------------TOTAL DEPOSIT
(RS. 000)
2009
13,378
131,839
10.14723%
(RS.000)
2008
9,778
118,795
8.23099%
(RS.000)
2008
11,053
1,507
7.334
(RS.000)
2009
8,813
2,004
4.3977
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askari bank
This ratio depicts the relationship betw een equity and debt
financing. This current year ratio shows decrease in ratio from
above times. Because lesser is equity financing lesser will be the
soundness of the bank. The reason behind this decrease is a
decrease in external borrowings and increase in internal debt aslso
but rate of increase in internal borrowing is greater. It is necessary
to keep the bank fund up to 40 % as reserve.
X 100
(RS.000)
2009
2,249,974
200,4333
(RS.000)
2008
2,021,996
2665455
11.23%
9.42%
This ratio is telling that is in the current year 2009 profit has
increased and that is why earning per share has also increased.
Its mean that the profit will be directly influence on the earaning
per share
This ratio indicates that what is the earning on each share of the
company, which is issued by the company. If there will be more
earning, then shareholders will take interest in the company and
willing to invest in it. Earning per share is high in both years. It
means that shareholders are interested in the company and they
would like to invest more and more in the company.
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askari bank
Return on assets
(RS. 000)
2009
2,249,974
166,033
1.4%
(RS. 000)
2008
2,021,996
145,099
1.6%
.
This ratio show s that the return is greater in 2008 as compared to
return in assets in the year 2009. Although interest and discount
on loans which is the major source of revenue for bank has
increased in 2009 as compared to last year but cost on deposit and
borrow ing which is the major expenditure of bank has increased
more in the current year than the last year.
Return on shareholder fund
ON
(RS. 000)
(RS. 000)
2009
2,249,974
2008
2,021,996
SHAREHOLDER FUND
PROFIT AFTER TAX
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askari bank
SHAREHOLDER FUND
11053230
11698891
20.35
17.28
R ATIOS
TOTAL LOANS
-----------------------
* 100
Total assets
Loan
to
assets
(RS. 000)
(RS. 000)
2009
2008
3000
166,033
1.80%
2999
145,099
2.06%
ratios
Total loans
Total assets
Ratios
SH AREHOLDER FUND
------------------------------------ * 100
120
askari bank
TOTAL ASSETS
Equity ratio
(RS.000)
2009
11,053
166,033
6.65711%
Shareholder fund
Total assets
Ratios
This
ratio
explain
that
participation
(RS.000)
2008
8813
145,100
6.07374%
in
the
assets
by
the
INTEREST INCOME
*100
---------------------------------------TOTAL LOAN
RATE
OF
RETURN
(RS.000)
(RS.000)
2009
12,597
2999
4.20%
2008
8,781
3000
2.927%
ON LOAN
Interest income
Total loan
Ratios
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askari bank
Equity capital
------------------------
* 100
TOTAL ASSETS
EQUITY CAPITAL TO
(RS. 000)
(RS. 000)
2009
2004
166033
1.20%
2008
1507
145,100
1.038%
ASSETS
EQUITY CAPITAL
TOTAL ASSETS
R ATIOS
In the current year banks assets have been increased from Rs.
145100 (billion ) to Rs.166033 (billion). so, this is the reason that
ratio equity to assets has increased in 2009. Denominator total
assets have increased substantially during the year 2009 and
increase in equity capital resulted in increase in this ratio.
A special batch of qualified, energetic, high caliber and qualified young
with good academic records is also hired as Management Trainee
Officers (MTOs) on annual basis with an aim to nurture high-talented lot
of future
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122
STRENGTHS
ASK ARI BANK 's total assets stood at Pak Rs.370 billion on
December 2004. This included total earning assets of about Pak
Rs.268 billion with gross loan portfolio of Pak Rs.140 billion. The
bank also has an investment portfolio of Pak Rs.91 billion, which
comprises treasury securities, corporate bonds, shares and other
securities.
WEAKNESSES
askari bank
123
ASK ARI BANK is far behind in offering modern banking facility like
automated teller machines then other commercial bank in Pakistan
as only eighteen branches in all over country have this facility.
ASK ARI BANK has only forty- four on line branches. While from
remaining branches data gathering is time consuming, and not fool
proof. Quantum of settlement within different branches is pending
because of this updating daily record is becoming very difficult.
In ASK ARI BANK , most of the time merit not has importance in
hiring of employees. Such practices are black spot on the face of
bank and resulted big losses and fraudulent acts by ASKARI BANK
own employees.
OPPORTUNITIES
124
askari bank
Now banks are using technology which covers the distance no matter
how far away any one, through a satellite based, on-line real-time
banking system and by offering telephone banking, electronic funds
transfer, E-Banking and other modern facilities.
RECOMMENDATIONS
It was an interested experience to do internship in Askari Bank . The
staff was highly cooperated and due to their help I learned big deal
about modern banking.
I suggest that such an internship program highly integrative for the
students of commerce education so that the students should be
enquired with the knowledge of practice world .I do summarize that it
would be a great help to me in selection of job or future field of work.
Here I am putting some suggestions, which will enable the bank to
compete with other banks more effectively & efficiently.
askari bank
125
126
askari bank
SUMMARY
Askari Bank is a good Organization in the way that anybody can join it
for his/ her long-term career. Overall working environment is
comfortable. Management of branch cares a lot of its employees and
considers them as the Asset of bank. Behavior of senior executive of
bank is very polite and they are caring about the individuals career and
their growth.
However management is very demanding about the targets but good
reward at the achievement of assigned targets is awarded.
Employees at Askari Bank are quite efficient. Therefore, they work
more than their working hours and it is all according to their will. It also
shows their loyalty, commitment to organization.
Employees are given the benefits like bonus, gratuity funds, loans,
increments, and medical.
All the customers are entertained individually. Same kind of behavior
and attention is given to all the customers. Getting ideas for
improvement from customer side is a new idea and that is working very
well in Askari Bank . All the customers are asked to fill a suggestion
form and the standards of the bank are improved through them.
Prioritizing its product portfolio in line with its corporate and consumer
needs and wants the bank is committed to develop products that give
more value to its customers in both the sectors.
In bank, all the work is done on computers. All the entries are made in
computer. Askari Bank ance are fed into the computer. This increases
efficiency of the bank.
During my internship training I gathered information regarding how a
successful bank operational aspects decorticated with the practical.
I found my internship training a very rewarding experience. The training
was beneficial because it helpful me to aware a real life working
environment.
So far my learning is concerned; all the employees at branch were quite
cooperative. They helped me to understand the activities of a bank to
possible extent. Their good attitude gave me more confidence to learn
more and to ask if I have any query in my mind. Besides their ever
going activities they never get irritant by my questioning. I had made an
honest efferent to present the working & operation of Bank in simplest
way.
I feel pleasure that I have really gained a lot during 6 weeks & enjoyed
working with experienced cooperative & intelligent staff.
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askari bank
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