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CHAPTER NO 01:

INTRODUCTION TO BANK

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1.0 Introduction

The name bank derives from the Italian word banco "desk/bench", used during the
Renaissance by Florentines bankers who used to make their transactions above a desk
covered by a green table cloth. However, there are traces of banking activity even in ancient
times. In fact, the word traces its origins back to the Ancient Roman Empire where money
lenders would set up their stalls in the middle of enclosed courtyards called macella on a long
bench called a bancu, from which the words banco and bank are derived.

The first banks were probably the religious temples of the ancient world and were probably
established sometime during the 3rd millennium B.C. Banks probably predated the invention
of money. Deposits initially consisted of grain and later other goods including cattle,
agricultural implements, and eventually precious metals such as gold in the form of easy-to-
carry compressed plates. Temples and palaces were the safest places to store gold as they
were constantly attended and well built. As sacred places, temples presented an extra
deterrent to would be thieves. There are extant records of loans from the 18th century BC in
Babylon that were made by temple priests to merchants. By the time of Hammurabi's Code,
banking was well enough developed to justify the promulgation of laws governing banking
operations.

Ancient Greece holds further evidence of banking. Greek temples as well as private and civic
entities conducted financial transactions such as loans, deposits, currency exchange and
validation of coinage. There is evidence too of credit, where by in return for a payment from
a client, a money lender in one Greek port would write a credit note for the client who could
"cash" the note in another city saving the client the danger of carting coinage with him on his
journey. Pythius, who operated as a merchant banker throughout Asia Minor at the beginning
of the 5th century B.C., is the first individual banker of whom we have records. Many of the
early bankers in Greek city-states were “metics” or foreign residents. Around 371 B.C.,
Passion a slave became the wealthiest and most famous Greek banker, gaining his freedom
and Athenian citizenship in the process.

Modern Western economic and financial history is usually traced back to the coffee houses
of London. The London Royal Exchange was established in 1565. At that time money
changers were already called bankers, though the term "bank" usually referred to their offices

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and did not carry the meaning it does today. There was also a hierarchical order among
professionals at the top were the bankers who did business with heads of state, next were the
city exchanges and at the bottom were the pawn shops or "Lombard’s. Some European cities
today have a Lombard street where the pawn shop was located. After the siege of Antwerp
trade moved to Amsterdam. In 1609 the Amsterdamsche Wissel bank (Amsterdam Exchange
Bank) was founded which made Amsterdam the financial centre of the world until the
Industrial Revolution.

In Pakistan, 1947 there were 487 offices of scheduled banks. These offices decreased to 195
on June 30, 1948. The banks shifted their offices to India. There were two Pakistani banks
with seven branches and 19 foreign banks. The State Bank of Pakistan was set up on July 1,
1948 as the central bank of the country. At that time Reserve Bank of India was working as
central bank for the time being. The establishment of central Bank was necessary because
Reserve of India refused to allow credit agaist securities to Government of Pakistan.
Moreover share in cash of Rs. 750 million from the joint assets was not handed over to
Pakistan.

At present there are 4 public sector commercial banks with 1543 branches. There are 20 local
private banks with 4938 branches, there 11 foreign banks with 82 branches. Moreover there
are 4 specialized banks with 533 branches. Thus there are 39 banks with 7096 branches as on
June 20, 2005.

1.1 Major Pakistani Banks

The data of these banks have been taken from their Annual reports and on the bases of data
Deposit and Assets rating has been done to know about these banks position in term of
market investment and attracting customers.

Banks Assets Rupees Assets Rating Deposits Rupees Deposit Rating


in 000 in 000
NBP 635,132,711 1 501,872,243 1
HBL 590,291,468 2 459,140,198 2
UBL 423,320,207 3 335,077,873 3
MCB 342,108,243 4 257,461,838 4
Bank AlFalah 248,313,793 5 222,345,067 5
ABL 192,574,000 6 161,410,000 6
Askari Bank 166,033,588 7 131,839,283 7
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1.2 Commercial role of Banks

However the commercial role of banks is wider than banking:

• Issue of banknotes (promissory notes issued by a banker and payable to bearer on


demand).
• Processing of payments by way of telegraphic transfer, internet banking etc.
• Issuing bank drafts and bank cheques.
• Accepting money on term deposit.
• Lending money by way of overdraft, installment loan or otherwise.
• Safe keeping of documents and other items in safe deposit boxes.
• Currency exchange.
• Sale, distribution or brokerage with or without advice, insurance etc.

To fulfill the requirement of MBA degree at National University of Modern Languages I


worked at United Bank Limited (UBL) Cantt Branch Mandra Branchfor the period of Six
weeks. Now I am going to explain in detail the activities and role of the Organization on the
next part of my report.

1.3 President and CEO Message (Atif R. Bukhari)

At UBL, we value our people as our greatest asset and it is this philosophy that forms the
basis of our focused, committed and long term investment in the people that form this great
institution.

We believe in hiring bright, talented, highly motivated and driven individuals across our
businesses and geographies. Our selection process by necessity is challenging and one that
ensures that our standards of excellence are maintained.

The diversity of and performance our businesses provide a wide spectrum of exciting career
opportunities for the right individuals. Our leading market position and our ambitious vision
for the future ensure our long term commitment to providing the highest quality training and
workplace practices for all our employees.

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Our vibrant and competitive culture will bring out the best in you, our performance driven
reward mechanism will drive you to perform beyond your estimation and you will have a lot
of fun along the way.

We look forward to a bright future and the best among you have a unique opportunity to be
part of it.

1.4 Corporate Profile

United Bank Limited (UBL) was privatized in 2002 with Abu Dhabi Group (UAE) and Best
way Group (UK) each acquiring 25.5% shares and management control in the bank. The
Government of Pakistan (GOP) held 44.7% at year end 2006, having divested approximately
4.2% to the public when the bank was listed on the exchanges in 2005. Another 20-25% is
being divested by the GOP to international investors through a GDR offering, which will
enable listing on the London Stock Exchange.

The Board of Directors of UBL is chaired by H. H. Sheikh Nahayan Mubarak Al Nahayan


who is a prominent member of Abu Dhabi’s Royal Family. Deputy Chairman of the bank Sir
Mohammed Anwar Pervez is currently chairing the Best way Group which is one of the
largest wholesalers in the UK market. There are 5 other board members including 3
nominees of the GOP.

Mr. Atif Bukhari, president & CEO has been associated with the bank since 2004 and has
extensive prior banking experience as does the senior management team of the bank. The
team has largely remained stable except for the position of Group Head Treasury that has
been vacant far the past 10 months.

As at December 31, 2006, the organization had a total staff strength of 15,369 (FY05:
13,479) employees of which 9,738 were the bank’s own staff while the remaining were out
sourced resources. Turnover for the year was about 10% while approximately 1,300 new
employees had been hired during the year.

Two major strategic initiatives during the out-going year included the formation of an
insurance company, UBL Insurers Limited and launch of UBL Ameen, the Islamic division

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of the bank. UBL Ameen will target customers through dedicated Islamic banking branches.
UBL was also one of the first few banks to set up an asset management company.

1.5 History of the Company:

UBL was established in 1959 and is one of the major commercial Banks of Pakistan. The
Bank is making every effort to meet the up-coming challenges through strategic planning and
making the best use of the resources at its command. A professional team was appointed in
mid 1997 to restructure the bank and to commence right sizing. The management is also in
the process of rationalizing the branch network and identifying and recovering its doubtful
and classified portfolio. It has planned to institute major improvements in customer services
and internal systems to improve efficiency. It also intends to launch innovative products. The
bank is increasing resource mobilization through regular deposit campaigns and accelerating
the process of recovery of outstanding advances and non-performing assets.

UBL has assets of over Rs. 300 billion and a solid track record of forty six years in addition
to the convenience of over 1056 branches serving you throughout the country and also at
several overseas locations.

1.6 Company Description:

UBL is a Banking Company which is engaged in Commercial & Retail Banking and related
services domestically and overseas.

Vision

To be a world class bank dedicated to excellence and to surpass the highest expectations of
our customers and all other stakeholders.

Mission

Our mission is to:

o Set the highest industry standard for quality across all areas of operation on a
sustained basis.

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o Optimize people, processes and technology to deliver the best possible
financial solutions to our customers.
o Become the most sought after investment.
o Be recognized as the employer of choice.

1.7 Management and supporting network

Chairman

His Highness Sheikh Nahayan Mubarak Al Nahayan

Deputy Chairman

Sir Mohammed Anwar Pervez OBE

President and CEO

Mr. Atif R. Bokhari

Directors
Mr. Omar Zaid Jaafar Al Askari
Mr. Zameer Mohammed Chaudry
Mr. Ahmad Waqar
Mr. Muhammad Javed Malik
Dr. Ashfaque Hasan Khan

Company Secretary & Chief Legal


Mr. Aqeel Ahmed Nasir

SEVP/Group Chief Financial Officer


Mr. Aameer Karachi Walla

Representative Offices

Tehran

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Subsidiary

United Bank AG Zurich, Switzerland

United National Bank Limited, UK (Joint venture with NBP)

UBL Fund Managers Limited

Associated Company

Oman United Exchange Company, Muscat

Offshore Banking Unit

Export Processing Zone, EPZ Branch, Karachi, Pakistan

Head Office

State Life Insurance Corp. Building #1,

I.I. Chandrigar Road, Karachi, Pakistan

P.O. Box No.: 4306

Gram: "UNITED"

Phone: (92-21) 111-825-111

Fax: (92-21) 2413492

1.8 Information technology and Control infrastructure

Currently the bank is using internally developed distributed database software called
UNIBANK. This software is utilizing Oracle Financials at the back end. As all daily banking
transactions are stored at the respective branches, consolidation at the head office takes place
at day end.
UBL has a total of 1,059 branches (including 15 over seas branches) of which 640 branches
have on-line connectivity (FY05: 496) with the head-office through an ISDN or satellite

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connection while the remaining are still to be brought on-line. Out of the total off line
branches there are at least 211 branches in the far-flung areas of the country (FATA, parts of
Kashmir) which are not automated. Critical information from these offices is physically
delivered to a near by located main branch.
The bank has specialized software to support its various functions and the focus for some
time has now been on enterprise application integration (middleware). The management
launched a transformation program in 2006 which aims to accomplish Bank wide business
and technology reengineering. The business aspect of this program is expected to improve
performance through implementation of uniform business processes and training is ongoing
in this respect.

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CHAPTER NO 02:

SERVICES

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2.0 Consumer Banking

You as an individual can gain and benefit the most through UBL Consumer Banking. In UBL
you get friendly, efficient and attentive personalized banking services, a unique banking
relationship experienced by each UBL client. You can utilize the following services.

• UBL Address
• UBL Businessline
• UBL Cashline
• UBL Credit Card
• UBL Drive
• UBL Money

2.1 Commercial Banking

If you have a small or medium-sized business, UBL can assist you with the right mix of
banking services that will help you manage and grow your business. Our experts will
facilitate you in the varied financial situations that you come across. We will respond to your
needs promptly because we understand how many your customers, your employees and YOU
depend on us.

• Agricultural
• Foreign Currency Savings
• Foreign Currency Term Deposits Receipts
• Rupee Transactional Account (RTA)
• Regular Term Deposits Receipts
• Small Business
• Special Notice Deposits Receipts
• UBL Business Partner
• UBL Wallet
• UBL Profit

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• Unisaver
• UBL PayPlus (loan against salary)

2.2 Corporate Banking

Corporate Banking means Financing to corporate institution which has been declared as
corporate entity. Corporate entity means if more than one company falls in the same line of
business, financing terms will be same to all the corporate institution as whole where as
Enterprise banking means each individual business units will be covered separate according
to the specific requirements for financing. Though more than one company falls in the same
group, the financing terms will differ according to each enterprise demands and needs.

The CBG department of UBL defines corporate banking in Pakistan. Amongst the local
banks UBL CBG is the pioneer in providing innovative solutions to its diversified and
satisfied customer base. UBL CBG is considered to be a major player in the financial market
of Pakistan.

Despite the sluggish economic growth in recent years, UBL out performed all the other local
banks in the corporate banking sector primarily due to CBG emphasis on establishing and
enhancing relationships with foreign/local blue chip and middle market customer's there by
capturing significant market share.

Achievements

The success of CBG has been established from the fact that UBL received the 'No.1 Euro
money 2000' Best Local Bank award and recognized it to have out performed all other banks.
In year 2000, UBL was also voted as the best Corporate Bank by the customers of a major
foreign bank in a survey.

2.3 Investment Banking

Investment banks help companies and governments raise money by issuing and selling
securities in the capital markets (both equity and debt) as well as providing advice on
transactions such as mergers and acquisitions.

UBL has three specialist business areas:


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a. Project & Structured Finance
b. Syndications & Debt Capital Market
c.Equity & Advisory

Project & Structured Finance

Deals with green field projects and expansion initiatives of highly leverages entities that
seek, limited resource financing options.

Syndications & Debt Capital Market

Existing Corporates with significant long term funding requirements that can not be met by
single lenders, either due to per party limits or risk diversification considerations.

Equity & Advisory

Deals with ordinary shares, preference shares, private equity etc and advisory related to
products and services.

Achievements

• Awarded the “Largest Investment Bank” award by The CFA Association of Pakistan
for three consecutive years (2003-2005).
• Awarded the "Corporate Finance Transaction of the Year" by The CFA Association
of Pakistan for FY 2005. .
• Structured and executed debt and equity transactions totaling over PKR 45 billion
(US$744 million) in 2006.

2.4 Treasury Banking

The Bank as an Authorized Derivative Dealer (ADD) is an active participant in the


derivatives’ market of Pakistan. Though the ADD license covers the below mentioned
transactions only (permitted under Financial Derivatives Business Regulations issued by
SBP), but the Bank offers a wide variety of derivative products to satisfy customers needs
(specific approval for which is sought from SBP on transaction basis):
• Foreign Currency Options

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• Forward Rate Agreements
• Interest Rate Swaps
These transactions cover both the aspects of market making and hedging.
The authority for approving policies lie with the BOD, who has delegated its powers to
Market Risk Committee (MRC) which runs the affairs in line with policies approved by the
BOD.
2.5 UBL Ameen Islamic Banking

United Bank Limited was awarded the Islamic Banking Branch license by the State Bank of
Pakistan on December 16, 2006. With that they launch of “Ameen”, UBL’s Islamic Banking
initiative. First flagship branch located at M. A. Jinnah Road opened its doors to the public
on December 22, 2006.

At UBL Ameen, it is our aspiration to provide customers with innovative and customized
products and services based on the age old foundations of Islamic Jurisprudence. UBL's aim
is to create new benchmarks in service quality and provide an array of personalized Islamic
products, catering to the diverse and ever challenging demands of clientele.

2.6 Types Of accounts

Basically there are two types of accounts.

2.6.1 Current Account

UBL Business Partner Account

Current account is named as Business Partner account. There is no profit on the deposits kept
in this type of account. The minimum balance required for this type of account is Rs.10, 000.
If a customer fails to maintain this balance Rs.50 are deducted from his account every month.
Account Number of Current account is identified by it code 01. Business accounts with
balance of 500,000 or above are granted certain special facilities and waivers such as no
online charges and no cheque return charges up till a specified number of cheques each
month.

BBA Account

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BBA Account (Basic Banking Account) is a current account and opens with Rs.1000. There
is no minimum balance requirement for this type of account. Account holder this account can
not make more than two deposits and withdrawals in a month form his account. Rs.50 is
detected for every transaction exceeding the second transaction but no restriction on ATM
withdrawals. Account number of this account has a code 021.

2.6.2 Saving Account

PLS Saving Account

Profit is earned on the deposits kept in the saving account at the rate of 0.75%. The minimum
balance required for this type of account is also Rs.10, 000. Profit is paid semi annually on
PLS account. Account number of saving account is identified by its code 10.

PLS Unisaver

This type of saving account is open by the amount of Rs. 100,000 and the rate if profit on it is
3%.

2.6.3 Nature of Account

Following types of accounts can be opened:

Business Account

• Sole Proprietorship
• Partnership ( Registered / Unregistered)
• Joint Stock Company (Public / Private)
• Others

2.6.4 Documentation to be obtained

• Attested Photocopy of a National Identity Card or Passport of the individual.


• In case the CNIC doesn't contain a photograph, the bank should also obtain in
addition to the CNIC, any other document such as driver's License etc that contain a
photograph.
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• In case of a salaried person, attested copy of his service card or any other accepted
evidence of service.
• In case of illiterate person, a passport size photograph of the new account holder
besides taking his right and left thumb impression on the specimen signature card.
• Proof of minority for Minor Account to be accompanied by attested B-Form /
Birth Certificate.
• In Case of student Account, Student card of the respective College / University is
to be obtained as a proof.

2.7 Sole Proprietorship

The documentary requirements in respect of individual accounts will apply. Attested copies
of the following documents are optional.

• Application to open an account on the official letter head of the sole


proprietorship.
• National Tax Number (NTN) Sales Tax Registration Certificate (if available).
• Evidence of membership trade organization, chamber of commerce etc (if
applicable).
• Rubber Stamp of proprietor to be affixed on all the documents along with
Account Opening Form & Specimen Signature Card.

2.7.1 Partnership

• Attested photocopies of identity cards of all partners.


• Application to open an account on the official letterhead duly signed by all the
partners.
• Attested copy of “Partnership Deed” duly signed by all partners of the firm.
• National Tax Number (NTN) / Sales Tax Registration Certificate.
• Attested copy of Registration Certificate with Registrar of Firms. In case the
partnership is unregistered, this fact should be clearly mentioned on the Account
Opening Form.
• Authority letter, in original, in favor of the person authorized to operate on the
account of the firm.
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• Rubber Stamp of partnership is to be affixed on all the documents along with Account
Opening Form & Specimen Signature Card.

2.7 Joint Stock Companies


Certified copies of:
• Resolution of Board of Directors for Opening of Account specifying the person(s)
authorized to operate the company account.
• Memorandum and Article of Association.
• Certificate of Incorporation.
• Certificate of Commencement of Business.
• Attested photocopies of identity card of all the directors.
2.8 Account Opening Procedure

A customer makes an agreement with the bank in order to open an account. The relationship
between the bank and the customer is created in the basis of this contract. At the time of
opening an account the bank is very careful due to certain obligation. Any one can apply for
opening an account but the bank opens an account after the proper introduction of the
customer. The procedure for opening an account is stated as under:

2.8.1 Account Opening Form

A person can open an account in a particular branch of any bank. He should ask for the
printed account opening form. The customer can get the form according to the nature of
account; the customer fills up the form. He writes his name, address, identity card number,
occupation, and specimen signature. After completing this form the customer binds himself,
act upon the conditions stated in the back side of the form.

2.8.2 Introduction

The account is opened on proper introduction. The old customer introduces the applicant to
the bank. The bank has a right to reject the application if no proper introduction is available
or the customer does not have good reputation. When the customer having good character
and reputation introduces the new customer, the bank considers that new customer is of the
same reputation.

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2.8.3 Submission of Document

At the time of opening an account some customers submit some documents to the bankers. A
partnership deed is required in case of partnership firm. An undertaking from all the partners
about their joint and several liabilities for the debts. The limited companies must provide
their memorandum of association, list of directors.

2.8.4 Specimen Signature

The banker gets the specimen signature of the customer on the printed card. The banker
keeps this card with him for future record. The customer draws cheques on the bank for
taking the money back. The signature on the card and Cheque must tally.

2.8.5 Account Number

The customer completes the account opening form and gets the proper introduction form and
the customer of the same bank branch. The bank has separate accounts opening registers. If
the current account is to be opened, the new account number is allotted in the current account
opening and closing registers. If the saving account is to be opened, new account number is
allotted in the saving accounts opening and closing registers.

2.8.6 Pay- in -Slip

The customer deposits some amount into the bank at the time of opening an account. The pay
in slip is used for depositing cash, cheques and draft.

2.8.7 Initial Deposit

The initial deposit is an amount which is paid into the bank at the time of opening on
account.

2.9 Cheque Books

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2.9.1 Requisitions for Cheque Books

Cheque book requisition cards which include the name and account number of the account
holder specify the type of Cheque book required by him. They are sent to the head office
through NIFT to get printed. Account holder is charged Rs.75 for twenty five leaves Cheque
book and Rs.300 for hundred leaves Cheque book. Cheque books are delivered by the head
office after five to seven days.

2.9.2 Delivery of Cheque Books

Cheque Books are delivered on the daily basis. Following tasks are performed.

• Name and account numbers of the account holders are written on the Cheque books.
• Date and Cheque numbers are entered in the respective registers according to the
respective category of the accounts i.e. current account (twenty five leaves Cheque
book), current account (hundred leaves), and saving account.
• Cheque book requisition slips are attached to the Cheque books with Cheque numbers
written on them.
• Prefix (serial number) is written on the Cheque books and they are arranged
according so that it would be easy to trace when the customer come for the collection
of Cheque book.

2.9.3 Issuance of Cheque Books

When the customer comes for the collection of Cheque book the requisition slips attached to
it are removed and Cheque book is given to the customer. The collection data is entered in
the register. If the Cheque book is not collected by the customer with in Sixty days after its
delivery it is destroyed.

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CHAPTER NO 03:

LEARNING & EXPERIENCE

3.0 Limitations

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• By keeping secret certain facts and knowledge from internees to protect introducing
that knowledge into market and competitors.
• Less time opportunity they provide for exploring organizational functions and
operations i.e. Six week
• Daily busy routine of employees restrict us to getting their more attention as well less
time opportunity for asking questions.
• They prefer to assign work that pending several dates to up dates from internees.

They send different departments according to their own preference and work nature

3.1 Learned (both positives and Negatives)

Positives:

• Punctuality.
• Knowledge about the UBL business.
• Know about the organization culture, policies, administration and reward system
• Social skills.
• How to perform the task under pressure and rush areas.
• Level of dependent and independent.
• Ability to deal with complexity, ambiguity and uncertainty.
• Self confidence that leads others to feel confident.
• How to protect organization / individual privacy interest.

Negatives:

• Without any reference they don't call any internee for internship.
• Timing problem.
• Treat internee as employee.
• Overload.
• No proper timing for offering prayer.
• I observe that some employees use office territory and equipment for personal use.
• I observe that some time biasness occurs in treating customers.

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3.2 Skills used and new skills gained

Skills used:

• Communication skills.
• Computer skills.
• Mathematical skills.
• Good image building skills.
• Willingness to compromise and show flexibility.

New Skills Gained:

• Managing time and stress.


• Developing self awareness.
• Problem defining skills.
• Developing new procedures to increase efficiency.
• Customer satisfaction skills.
• Coordination skills.

Personal Experience

Its develop confident in my personality and experience how to interact with


organization employees, customers, how information pass from upward to downward and
downward to upward in organization hierarchy.

I learned how difficulties new employee (I as internee) face to adjust any new organization
place where the competitive situation, strict rules and regulations, personal difference,
environmental stress, task interdependence, status struggles. This all will help my future
career plans.

• Learn how to assigning task and provide routine instructions.


• Observe coordinating activities of each workgroup members to keep work
running smoothly.
• Develop problem defining skills.

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• Participate in handling day to day operational crises as they arise.
• Non work related talking (e.g. family or personal matters).

This all will influence my future career plans.

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CHAPTER NO 04:

FINANCIAL ANALYSIS

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4.0 Investment performance
Gross investments increased to Rs. 67.5b from Rs. 63.4b, with the increase coming about
largely in the fixed income portfolio of Rs. 61.0b (FY05: Rs. 58.1b) while the remaining has
been deployed in equities & mutual funds. Total asset size of UBL increased by
approximately 22% to Rs. 423.3b as at December 31, 2006 from Rs. 347.1b at the end of the
previous year.
Percentage change over Period 2006-2007(ASSETS)
NBP UBL ABL MCB
Advances 26.72 42.44 51.44 21.42
Investments 34.27 87.76 86.18 62.76
Cash Balances 33.26 68.43 101.73 67.69
Bal With other banks 20.81 -77.56 79.7 159.71
Lending to Financial Institutions 31.82 38.7 218.82 -89.5
Operating fixed assets 174.19 211.02 59.91 95.84

Percentage change over Period 2006-2007(LIABILITIES)


NBP UBL ABL MCB
Bills payable 305.59 45.4 42.71 22.75
Borrowings 24.31 159.78 36.58 43.94
Deposits and Other Accounts 27.72 35.46 6.54 27.36
Subordinate accounts 14.23 49.94 -69.84
Other liabilities 31.37 101.85 63.97 43.09

National Bank Limited

Total Assets

At the end of the year December 2006, the total assets of the bank have risen to Rs. 635,133
million compared to Rs. 577,719 million in 2005. Advances o fthe bank recorded an increase
of 17.58% in the year while investment of the bank reduced by10.85% in the year. Balances

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with other and lending to financial institutions both have recorded increase of 31.02% and
41.33% respectively compared to year ended December 2005.

Change
2005 2006 (%)
Advances 268,839 316,110 17.58
Investments 156,985 139,947 -10.85
Cash Balances 71,197 78,625 10.43
Bal With other banks 31,019 40,642 31.02
Lendings 16,283 23,013 41.33
Operating fixed assets 9,454 9,682 2.4

As on 31st December 2007, the total assets of the bank recorded an increase of 31.93% with a
total of Rs. 762,194 million compared to year ended December 2005. Advances and
investments of the bank both have recorded increase of 26.72% and 34.27% compared to
year ended December 2005. Lending to financial institutions of the bank reduced by 31.82%
in the year as its total reached to Rs. 21,465 million compared to Rs. 16,283 in 2005.
Operating fixed assets of the bank have also increased to Rs. 25,923 million with an increase
of 174.19% in the year.
Change
2005 2007 (%)
Advances 268,839 340,677 26.72
Investments 156,985 210,788 34.27
Cash Balances 71,197 94,873 33.26
Balances with other banks 31,019 37,473 20.81
Lending to Financial Institutions 16,283 21,465 31.82
Operating Fixed Assets 9,454 25,923 174.19

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Total Liabilities

As on 31st December 2006, the total liabilities of the bank has to increased to Rs. 553,579
million compared to previous of Rs. 501,901 million in 2005. Bills payables of the bank
dramatically increased by 509.12% in theyear compared to year ended December2005.
Borrowings and deposits of the bank both recorded increase of 33.66% and 8.3%
respectively. Deferred tax liabilities of the bank reduced by 44.52% in the year.

Change
2005 2006 (%)
Bills payable 1,741 10,606 509.12
Borrowings 8,757 11,704 33.66
Deposits and Other Accounts 463,426 501,872 8.3
Deferred tax Liabilities 4,463 2,387 -44.52
Other liabilities 23,497 26,596 13.19

As on 31st December 2007, the total liabilities of the bank has to increased to Rs. 645,856
million with an increase of 28.68% compared to previous of Rs. 501,901 million in 2005.
Bills payables increased by 305.59% compared to year ended December2005. Borrowings
and deposits of the bank both recorded increase of 24.31% and 27.72% respectively.

Change
2005 2007 (%)
Bills payable 1,741 7,062 305.59
Borrowings 8,757 10,886 24.31
Deposits and Other Accounts 463,426 591,907 27.72
27
Deferred tax Liabilities 4,463 5,098 14.23
Other liabilities 23,497 30,869 31.37

Equity

As on 31st December 2006, the total equity of the bank has to increased to Rs. 81954million
compared to previous of Rs. 75,818 million in 2005. Share capital of the bank has reached to
Rs. 7091 million with an increase of 20.00% in the year. Reserves and unappropriated of the
bank have increased by 12.34% and 65.57% in the year.
Change
2005 2006
(%)
Share Capital 5,909 7,091 20
Reserves 12,354 13,879 12.34
Un-appropriated Profit 19,372 32,075 65.57
Surplus on revaluation of assets-net of tax 38,182 28,909 -24.29

As on 31st December 2007, the total equity of the bank has to increased to Rs. 116,338
million with an increase of 53.44% compared to previous of Rs. 75,818 million in 2005.
Share capital of the bank has reached to Rs. 8154 million with an increase of 38.00% in the
year compared to 2005. Reserves and unappropriated of the bank have increased by 27.67%
and 134.06% compared to year esnded December 2005.

Change
2005 2007
(%)
Share Capital 5,909 8,154 38

28
Reserves 12,354 15,772 27.67
Un-appropriated Profit 19,372 45,344 134.06
Surplus on revaluation of assets-net of tax 38,182 47,067 23.27

4.2 Deposit performance

Rate of increase in total deposits of scheduled banks was lower during FY06 with the total
market’s deposit base increasing by about 12% to Rs. 2.9 trillion as compared to a growth of
23% during the preceding year. While growth in deposits of UBL was about 16%, it was

29
partly driven by deposit taking from overseas operations. Total deposits as of December 31,
2006 amounted to Rs. 335.8b (FY05: Rs. 289.2b). Of this, deposits from domestic operations
amounted to Rs. 271.6b (FY05: Rs. 249.7b), translating into a market share of 9.1% and
placing UBL as the third largest bank in the country in terms of total deposits held. In recent
times, the private sector has mainly led the deposit growth. UBL has maintained its share of
public sector deposits which represent 15.98% of total deposits (FY05: 15.11%).

4.3 Advances performance


The gross advances of the country’s entire banking sector saw a sizable increase to over Rs.
2.4trillion by the end of FY06 (FY05: Rs. 2.0trillion), translating into a growth of 20% in the
overall market size. Growth in UBL’s local advances was slightly below the market, though
increased lending from overseas operations resulted in aggregate growth of 20% for the year
2006. Net advances amounted to Rs. 247.3b (FY05: Rs. 204.8b) as at December 31, 2006.

4.4 Term Finance Certificates

The bank’s capital structure is supported through three subordinated TFC's issued in 2004,
2005 and 2006, each for a tenor of 8 years. The first of these is maturing in August 2012 and
has a total issue amount of Rs. 2b while the maturity of the remaining two having issue
amounts of Rs. 2b each also, would follow in March 2013 and September 2014. The total
outstanding amount was Rs. 5.9b (FY05: 3.9b) as of December 31, 2006.
The first two issues carry fixed rates of 8.5% and 9.5% respectively, while the third issue was
priced at floating rate.

4.5 Profitability
Administrative expenses increased by nearly 40% to Rs. 10.9b (FY05: Rs. 7.9b). The
efficiency of branch structure has room for further improvement. Almost 360 branches held
less than Rs. 100m in deposits at year end, aggregating Rs. 22b. Operating efficiency for the
year was about 39.4% (FY05: 41%).

30
1. With a healthier total revenue base, earnings of the bank for the year have improved
to Rs.16.3b (FY05: Rs.10.5b), improving ROA to 2.24% (FY05: 1.71%), Net Profit
Margin improved 37.14% (FY05: 33.61%). Additional Return on Equity increased
31.70% (FY05: 27.45%) while bad debt directly written–off against the profit and
loss account totaled Rs.269m (FY05: Rs.38m). Net profit after tax for the year ended
December 31, 2006 was higher by 60% at Rs.9.5b (FY05: 5.9b).
In future years, the bank is likely to sustain strong profitability indicators with the persistent
growth in lending and continued investment in high margin consumer lending.

4.6 Market Leader Banks

The total non-performing loans (NPL's) of the four market leader banks for the year ended
December 2007, increased by 14.37% as total of NPLs have reached to Rs. 82,410 million
against Rs. 72,056 million at the end December 2006. In terms of amount NBP has highest
levels of NPLs with Rs. 36,260 million and Rs. 38,318 million in years ended December
2006 and 2007 respectively as it has the lowest increase in NPLs in group of four with 5.67%
at the end of year December 2007. ABL also managed its NPLs in the period under review as
it just went up only by 8.36%. UBL has the highest increase in its NPLs as it increased by
31.45% at the end of December 2007.

NPL's of Mkt Leader Banks


NBP MCB UBL ABL Total

2006 36,260 8,571 16,746 10,479 72,056

2007 38,318 10,725 22,012 11,355 82,410

Change (%) 5.67 25.13 31.45 8.36 14.37

31
35 .
3145
30 .
2513
25
20
15
8.
10 5. 36
67
5
0
NBP MCB UBL ABL

Percentage Change in NPLs in 2007 Compared to 2006

4.7 RATIO ANALYSIS


4.7.1 Liquidity Ratio
In this ratio we compare Assets with liabilities these ratios are use to judge a firm’s ability to
meet the short-term Obligations. Short-term liabilities are those which are for one year.
Current ratio
Current Ratio= Current Assets/Current Liabilities

2006 2007
0.2747 0.3515

We compare Current Assets with Current liabilities to check whether the company has
enough assets to meet the Short-term Liabilities. Current Ratio should be at least 1 or more
than it shows that Company’s financial position is stable.
In year 2005, the current ratio is 0.2747 which shows that Company’s financial performance
is not stable but in banking sector the current deposit of the bank are more that come under
the current liabilities which reduce the UBL current ratio.
In the next year 2006, Current ratio increases at the rate of 0.0768 and reached at 0.3515
which shows that bank trying to improve its position
Current ratio is less then one to find out this reason I check financial statements which
indicates that the current liabilities of the Bank are more due to high current deposits where

32
as current asset amount is very less some cash balance bank kept and small amount
receivable from others.

4.7.2 Leverage Ratio

These are those ratios which show the extent to which the firm is financed by debts.
Debt to Equity ratio
Debt to Equity ratio = Total Debts/Stock holder’s equity

2006 2007
15.02 13.17

In the year 2005, debt to equity ratio is 15.02 which show that debts are getting higher and
there is a big difference between equity and debts. According to this ratio, the company’s
financial position is not good because the company has not enough equity to meet the debts.
In year 2006 it is 13.17 which shows that company is improving somewhat. And the
investment is coming in the company due to which equity is increasing comparatively. Debts
are decreasing and our obligations are going to be paid with the passage of time.
This ratio tells us that creditors are providing higher amount then finance that are provided
by the shareholder. It can be difficulty with creditors recovering the amount.
Debt to Asset ratio
Debt to Asset ratio = Total debts/total assets.

2006 2007
0.937 0.929

In year 2005 debt to asset ratio is 0.937 it shows that assets are greater than liabilities which
are a good sign for the company. And we can meet our debts through our assets. As less the
debt to asset ratio is better will be the performance of the company. Cash is increasing due to
the receivables and profitability is more in the last year. That’s why assets are increasing.
In year 2006, debt to asset ratio is 0.929 which shows that the company became stable as
compare to last year. Because as less the leverage ratio is better is the performance of the
company. Ratio decreases because liabilities are decreased at greater extent. But assets are
also decreasing because we are paying our payables to cash. And it creates interest of the
creditors to give more loans to the Bank. Because there assets are more than there debts
33
therefore they are able to meet the liabilities. In short, the higher the debt to assets ratio, the
greater the financial risk.
4.7.3 Profitability Ratio
Ratios that relates profit to sales and investment.
Net Profit Margin
Net profit margin = Net profit after tax/revenue*100.

2006 2007
33.614 37.136

The net profit margin is a measure of the firm's profitability of sales after taking account of
all expenses and income taxes. It tells us a firm's net income per Rupee of sales.
UBL 2005 and 2006, it is 33.614, 37.136 percents out of every sales Rupee constitutes after
tax profits and it is increasing rates may be due to lower selling, administrative and others
expenses.
Return on Investment
Return on Investment = Net profit after tax/total assets*100.

2006 2007
1.714 2.237

This ratio unfavorable, higher profitability per rupee of sales but slightly lower return on
investment confirm that UBL employs more assets to generate a rupee of sales. Return on
Equity
ROE = Net profit after tax /Share Holder Equity

2006 2007
27.455 31.705

This ratio tells us the earning power on shareholder's book value investment. A high return
on equity often reflects the firm's acceptance of strong investment opportunities and effective
expenses management.
Here we will compare the ratio of 2005 and 2006 which will than reveal to us that increasing
or decreasing each year. Which will at end attract more shareholders if the return is becoming
higher and higher each year. Also this will indicate that the decisions made by the

34
management about the shareholders funds were profitable. From the table we can see that in
2005 the return was 27.455.In 2005 it increase by 4.25 % and reached to 31.705%.
Tax ratio
Tax ratio = Tax/ Total revenue*100.
2006 2007
19.96 18.91

Tax ratio indicates that there is increase in revenue and reduction in tax liability that
ultimately will increase the company profit after tax.
4.7.4 Activity Ratio
It shows that how efficiently company is using its assets.
Receivable Turnover ratio
RTO = Revenue /Account Receivable
2006 2007
99.05 86.22

This ratio tells us the number of times accounts receivable have been turned over (turned into
cash) during the year. The higher the turnover, shorter the time between the typical revenue
and its cash collection.
Receivable turnover ratio is decreasing from 2005 to 206 that show management’s lenient
policy regarding the receivable that may be to remain with them a valuable customer. On the
other hand it should not be strict because it will curtail revenue and profit less due restrictive
issuance of credit to customers.
Average collection period
Average collection period = 360/Receivable turnover
2006 2007
3.63 4.17

This ratio indicates the average length of time in days that a company must wait to collect
revenue after making it, may be compared to the credit terms offered by the company to its
customers.
UBL average collection period is good, figures tells us that organization is collecting its
revenue after making appropriate in 4 days.
Although too high an average collection period is usually bad, a very low average collection
period may not necessarily be good that show sign of a credit policy that is excessively
35
restrictive and result of this policy may be curtail revenue and profit less. In this situation,
credit standards used to determine an acceptable credit account should be relaxed somewhat.
In general, the firm should improve its Current ratio and use less assets to generate more
revenue.

4.8 Index Analysis


UBL Bank Limited

Total Assets

At the end of the year December 2006, the total assets of the bank have risen to Rs. 435,990
million compared to Rs. 358,056 million in 2005. Advances of the bank recorded an increase
of 21.18% in the year while investments of the bank increased by 6.78% in the year. Cash
balances and lending to financial institutions have increased by 43.53% and 65.51%.
operating fixed assets of the bank have reached to Rs. 6,362 million with an increase of
16.96%.

Change
2005 2006 (%)
Advances 210,153 254,670 21.18
Investments 61,559 65,735 6.78
Cash Balances 34,155 49,024 43.53
Bal With other banks 18,677 19,418 3.97
Lending to Financial Institutions 17,868 29,572 65.51
Operating fixed assets 5,440 6,362 16.96

As on 31st December 2007, the total assets of the bank recorded an increase of 48.10% with a
total of Rs. 530,284 million compared to year ended December 2005. Advances and
investments of the bank both have recorded increase of 42.44% and 87.76% compared to
year ended December 2005. Operating fixed assets of the bank have also increased to Rs.
16919 million with an increase of 211.02% in the year. Balance with other banks reduced by
77.56% in the year compared to year ended December 2005.

Change
2005 2007 (%)
Advances 210,153 299,355 42.44
Investments 61,559 115,586 87.76
Cash Balances 34,155 57,526 68.43
36
Balances with other banks 18,677 4,191 -77.56
Lending to Financial Institutions 17,868 24,782 38.7
Operating Fixed Assets 5,440 16,919 211.02

Total Liabilities

As on 31st December 2006, the total liabilities of the bank has to increased to Rs. 402,712
million compared to previous of Rs. 333,783 million in 2005. Bills payables and borrowings
of the bank increased by 10.69% and 70.01% in the year compared to year ended
December2005. deposits of the bank recorded increase of 15.96% with total of Rs. 343,804
million compared to previous of Rs. 296,499 million in 2005. Subordinate accounts and other
liabilities of the bank also increased by 49.99% and 51.15% respectively in the year

Change
2005 2006 (%)
Bills payable 4,181 4,628 10.69
Borrowings 22,751 38,680 70.01
Deposits and Other Accounts 296,499 343,805 15.96
Subordinate accounts 3,999 5,998 49.99
Other liabilities 6,348 9,594 51.15

As on 31st December 2006, the total liabilities of the bank has to increased to Rs.
483,863million with an increase of 46.16% compared to previous of Rs. 333,783 million in
2005. Bills payables of the bank increased by 45.40% while the borrowings of the bank
inceased to Rs.59,103 million with an increase 159.78% compared to 2005. deposits of the
bank recorded increase of 35.46% with total of Rs. 401,638 million compared to previous of

37
Rs. 296,499 million in 2005. Subordinate accounts and other liabilities of the bank also
increased by 49.94% and 101.85% respectively in the year.

Change
2005 2007 (%)
Bills payable 4,181 6,079 45.4
Borrowings 22,751 59,103 159.78
Deposits and Other Accounts 296,499 401,638 35.46
Deferred tax Liabilities 3,999 5,997 49.94
Other liabilities 6,348 12,813 101.85

Equity

As on 31st December 2006, the total equity of the bank has to increased to Rs. 33,177 million
compared to previous of Rs. 24,274 million in 2005. Share capital of the bank has reached to
Rs. 6,475 million with an increase of 25.00% in the year. Reserves and unappropriated of the
bank have increased by 36.79% and 65.98% in the year.

Change
2005 2006
(%)
Share Capital 5,180 6,475 25
Reserves 6,820 9,330 36.79
Unappropriated Profit 7,790 12,930 65.98
Surplus on revaluation of assets-net of tax 2,922 2,670 -8.62

38
As on 31st December 2006, the total equity of the bank has to increased to Rs. 33,177 million
with an increase of 74.76% compared to previous of Rs. 24,274 million in 2005. Share
capital of the bank has reached to Rs. 8,094 million with an increase of 56.25 % in the year.
Reserves and unappropriated of the bank have increased by 50.46% and 100.94% in the year.

Change
2005 2007
(%)
Share Capital 5,180 8,094 56.25
Reserves 6,820 10,262 50.46
Un-appropriated Profit 7,790 15,654 100.94
Surplus on revaluation of assets-net of tax 2,922 8,412 187.86

Allied Bank Limited


• Total Assets

As on 31st December 2006, the total assets of the bank have reached to Rs. 252,027 million
compared to Rs. 192,574 million in 2005. Advances of the bank have reached to Rs. 144,033
million an increase of 29.52% compared to last year, while the investments of the bank
marginally increased by 4.51% in the year. Lending to financial institutions recorded the
highest increase with 229.74% in the year as its total has reached to Rs. 19,050 million
compared to Rs. 5,777 million in 2005. Cash balances and operating fixed assets have also
recorded significant increases of 56.88% and 36.53% in the year.

2005 2006 Change


39
(%)
Advances 111,207 144,033 29.52
Investments 44,927 46,953 4.51
Cash Balances 14,743 23,040 56.88
Bal With other banks 3,292 3,292 0
Lending to Financial Institutions 5,777 19,050 229.74
Operating fixed assets 4,721 6,445 36.53

As on 31st December 2007, the total assets of the bank have reached to Rs. 320,109 million
with an increase of 66.23% compared to Rs. 192,574 million in 2005. Advances of the bank
have recorded a significant increase of 51.44% as its total has reached to Rs. 168,407 million\
compared to Rs. 111,207 million in 2005 while the investments of the bank increased by
86.18% in the year as it balance have become Rs. 83,958 million. Lending to financial
institutions recorded the highest increase with 218.82% in the year as its total has reached to
Rs. 18,419 million compared to Rs. 5,777 million in 2005. Cash balances and operating fixed
assets have also recorded significant increases of 101.73% and 59.91% in the year.

2005 2007 Change (%)


Advances 111,207 168,407 51.44
Investments 44,927 83,958 86.18
Cash Balances 14,743 29,740 101.73
Balances with other banks 3,292 668 79.7
Lending to Financial Institutions 5,777 18,419 218.82
Operating Fixed Assets 4,721 7,549 59.91

• Total Liabilities

40
As on 31st December 2006, the total liabilities of the bank have reached to Rs.
234,339million compared to Rs. 178,025 million in 2005. Bills payables of the bank
decreased slightly by 6.97%, whereas borrowings of the bank increased by 89.92% compared
to last year. Deposits and other liabillities of the banks both have recorded increase of
27.64% and 14.48%. while subordinate jumped from nothing to Rs. 2,500 million in the year.

Change
2005 2006 (%)
Bills payable 2,449 2,278 -6.97
Borrowings 9,694 18,410 89.92
Deposits and Other Accounts 161,410 206,031 27.64
Subordinate accounts - 2,500
Other liabilities 4,472 5,119 14.48

As on 31st December 2007, the total liabilities of the bank have recorded an increase of
68.65% with a total of Rs. 300,231 million compared to Rs. 178,025 million in 2005. Bills
payables of the bank increased by 42.71% compared to the year ended December 2005,
whereas borrowings of the bank increased by 36.58% compared to 2005. Deposits showed a
marginal increase of 6.54% in the year relative to 2005 while other liabillities of the banks
have recorded increase of 63.97%.

Change
2005 2007 (%)
Bills payable 2,449 3,494 42.71
Borrowings 9,694 22,934 36.58
Deposits and Other Accounts 161,410 263,972 6.54
Subordinate accounts - 2,499
Other liabilities 4,472 7,332 63.97

41
• Equity

As on 31st December 2006, the total equity of the bank has reached to Rs. 17688 million
compared to Rs. 14,650 million in 2005. Share capital of the bank showed no change in the
year, while reaserves of the bank increased by 7.72%. Un-appropriated profit of the bank also
increased by 105.26% compared to the year ended December 2005.

Change
2005 2006
(%)
Share Capital 4,489 4,489 0
Reserves 5,693 6,133 7.72
Un-appropriated Profit 2,732 5,608 105.26
Surplus on revaluation of assets-net of tax 1,636 1,458 -10.85

As on 31st December 2006, the total equity of the bank has reached to Rs. 19878 million with
an increase of 36.62% compared to Rs. 14,650 million in 2005. Share capital of the bank
showed an increase of 20.00% over the year ended December 2005. Un-appropriated profit
of the bank increased by 155.17% as its total reached to Rs. 6,971 million compared to Rs.
2732 in the year ended December 2005.

Change
2005 2007
(%)
42
Share Capital 4,489 5,387 20
Reserves 5,693 6,051 6.27
Un-appropriated Profit 2,732 6,971 155.17
Surplus on revaluation of assets-net of tax 1,636 1,470 -10.14

4.9 SWOT ANALYSIS

The SWOT analysis done by me about this institution is as follows

4.9.1 Strengths:

• Renovate its branches to fortify its new image


• The main focus on customer relationship
• The ATM card has as additional facility of using it as a debit card and can be taken
over all over the world

4.9.2 Weaknesses:
43
• It does not provide the money gram facility region wise.
• There is less counter staff.
• Helpline staff is not efficient.
• Although the employees are provided with different facilities but they are over
burdened.
• Credit card statements are not issued properly to the clients on time.
• Should retain their senior and efficient employees.

4.9.3 Opportunities:

• Quest for quality.


• Goal corporate citizenship.
• Improved its position from 3rd to 2nd in terms of deposits.

4.9.4 Threats:

• To maintain its position and to cope with the advancing technology it needs heavy
capital investment.

44
CHAPTER NO 05:

RECOMMENDATION & CONCLUSION

5.1 Recommendations:

45
• The branch daily expense are increase day by day branch management need to control
the extra expenses
• At present, there is no prayer room for ladies in the bank. They either offer their prayers
in the locker’s room (or whatever space is available to them). A proper prayer room for
the ladies working in the bank should be made in for them to offer their prayers
comfortably.
• At present, all over the bank, if a person is not on his/her seat, his or her phone keeps
ringing unless someone thinks of picking it up. The caller could be an important
customer, or for that matter, could any customer need urgent information and when that
information is not received, it creates a bad image about the bank and its services. In
order for UBL to be a first class bank, it needs to implement a policy that says that a call
in a particular department has to be picked up within, say three rings by any other person
in the same department. After three rings, the call should automatically be transferred to
an answering machine so that the caller can call on another extension (instead of calling
all over again) or leave a message.
• There should no discrimination between the contractual and the permanent employee for
training and promotion purpose. Even discrimination should not take place in any
where. So training not only given to the front-end employees but also to the back-end
employees.
• Promotions should not be one the basis of seniority and experience but also young
people who are more motivated and thus should be given an opportunity to grow.
• The employees should be given tasks according to their qualification so that the work
relates to them and they relate to the work.
• The employees should be given time to socialize and this can be done by teamwork.
• Employees should be paid fairly according to the quality of their work.
• They should increase counter for customer convenience.
• There should be more then one person in account opening section for quality of
service
We can’t change everything at once. Change is difficult. Making large changes is even more
difficult.

5.2 CONCLUSION:
46
After spending six weeks at different departments of the bank, interacting with the

employees, getting their views, observing the organizational structure and design, I have

come up with the conclusion that UBL is a leading commercial bank. UBL got confidence of

the public especially the people related to the business field. The bank is trying to capture

more and more market by introducing more and more innovative products and services. The

staff of the bank is highly qualified and knows their work very well. The staff is very

cooperative which will help in the growth of bank by capturing more customers. A few

employees showed rudeness and were not much cooperative with internees but I think it was

due to the fact that they were heavily loaded with work and because of more work they seem

to be less cooperative.

Another thing which I feel is that their was no peon in the branch. So internees were used in

place of them and we had to do photocopies and faxes.

In the end I want to say that my internship experience at UBL have strengthened my career

plans toward joining banking sector and I hope skills and knowledge which I gained their

will help me in perusing my career plans.

References

47
Bank AlFalah Limited (2007). Financial Statements of year 2006. Bank AlFalah Limited,
Rawalpindi, Pakistan.
Habib Bank Limited (2007). Financial Statements of year 2006. Habib Bank Limited,
Rawalpindi, Pakistan.
Irshad, M (2007). Money & Banking Finance. Lahore: Naveed Publisher.
Johnson, P (1987). A History of the Jews. New York: HarperCollins Publishers.
Luthons, F (2005). Organizational behavior (10 edition). New York: McGraw-Hill Irwin.
MCB Bank (2007). Financial Statements of year 2006. MCB Bank, Rawalpindi ,Pakistan.
National Bank of Pakistan (2007). Financial Statements of year 2006. National Bank of
Pakistan, Rawalpindi ,Pakistan.
United Bank Limited (2007). Financial Statements of year 2006. United Bank Limited,
Rawalpindi Pakistan.

Online References
Faryal, A. Sobia, M. Rating Report [online] Avaible http://www.ubl.com.pk.

48