19511332 Internship Report on Mcb

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BUSINESS INTERNSHIP REPORT

ON

MCBS PERFORMANCE IN COMPETITIVE BANKINGSECTOR & ITS PRODUCTS & SERVICES AT MCB

PAKISTANI CHOWK BRANCH LARKANA

AUTHOR

SHAFEEQUE REHMAN MEMONROLL NO: 02

M.COM (FINAL)

MASTER OF COMMERCESESSION 2008 2009


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The report is being made for the fulfillment of course the course No: 600 Business

Internship Report of M.Com (Final).

The Business Internship is prepared on MCBs performance in competitive banking

sector & its products & services at MCB Pakistani Chowk Branch Larkana.

I would like to thank the following people at MCB Pakistani Chowk Branch who

provided me help to learn as much as possible during a short span of time.

Mr. Nazeer Ahmed Shaikh (Branch Manager)

Mr. Aamir Ali Mangi (Operation Manager)

The Business Internship Report is prepared under the supervision ofProfessorDr.

GHULAM MURTAZA MAITLO Chairman Department of Commerce, Shah Abdul

Latif University Khairpur, Mirs.

I would like to extend my gratitudes to my teacher for his advice, encouragement

and valuable suggestions which made it possible for me to complete my Business

Internship Report.

I | business internship report

ACKNOWLEDGEMENT


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MCBS PERFORMANCE IN COMPETITIVE BANKINGSECTOR & ITS PRODUCTS & SERVICES AT MCB

PAKISTANI CHOWK BRANCH LARKANA.

TOPICS PAGE #:Acknowledgement IAbstract II

Table of Contents IIIExecutive Summary 01

About MCB 01

Our Vision and Mission 02

Vision Statement 02

Mission Statement 02Introduction 03

Achievements 03

Company History 03Main Departments and Their Jobs 04

General Banking 04

Remittance 04

Pay Order 04

Demand Draft 04

Mail Transfer 05

Telegraph Transfer 05

Payment of Pay Order and Demand Draft 05

Cancellation of Pay Order and Demand Draft 05

Vouchers 05

Inward Clearing 06

Outward Clearing 06 Token 06

Issuance of Cheque Books 06

Issuance of ATM Cards 07

Cancellation of ATM Cards 07

Sale of RTC 07

Short Notice Term Deposits 08

Amount, Rate, Number of Days / 365 Days 08

Call Deposits 08

Foreign Exchange 08

LCS Establishment 08

TABLE OF CONTENTS


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Payment or Retirement 08

III | business internship report

Foreign Currency Deposits 08

Foreign Remittances 09

Advances / Credit 09 Basic Banking Account 09

Pak Rupee or Foreign Currency Account 10

Saving Account 10

MCB Rupee Maximizer Account 10

Current Account 10

Khushali Bachat Account 10

MCB Enhanced Saving Account 10

MCBs Partners in Bill Payment 11Investment Banking 11About Remit Express 11Features 12Personal Loan 12Products and Services 12

On-line 12

MCB Full Day Banking 12

365 12

MCB Special Rupee Term Deposits 12

MCB Lockers 13

MCB Remit Express 13

MCB Islamic Banking 13 MCB Cards 13

Cirrus 13

Maestro 13

MCB Virtual Internet Banking 13

MCB Call Centre 14

MCB Mobile Banking 14

MCB ATM 24-Hour Cash 14

MNet 14

MCB Smart Cards 14

MCB Easy Bill Pay 14 Corporate Financing 14

Instant Financing 14

MCB Rupee Travelers Cheque 15

MCB Business Sarmaya 15

MCB Pyara Ghar 15

MCB Car4u 15Six Years Progress 16Balance Sheet 18Profit and Loss Account 19

Cash Flow Statement 20Statement of Changes in Equity 22


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Conclusion 24Recommendations 25Bibliography 26Copy Right 27

IV | business internship report

ABOUT MCB

MCB (Formerly Muslim Commercial Bank Ltd.) is the largest private sector bank inPakistan. The Adamjee group incorporated in 1948. It proposed during the 1950sand 60s. In 1975 it was nationalized with all other private sector bank. Then 1991 itwas privatized. Since the bank has been headway in improving of technology. In theyear 2006 bank name was changed to MCB Limited. The bank is now included asone of the top most bank of the nation.

MCB has been awarded as a Euromoney Award 2008 for the "Best Bank in Asia"The Chairman of MCB is Mian Mohammad Mansha and the President / CEO is Mr.Atif Aslam Bajwa. MCB is one of the leading banks of Pakistan with a deposit base ofabout Rs. 280 billion and total assets of around Rs.300 billion. Incorporated in 1947,MCB soon earned the reputation of a solid and conservative financial institutionmanaged by expatriate executives. In 1974, MCB was nationalized along with allother private sector banks. The Bank has a customer base of approximately 4 million

and a nationwide distribution network of 1,026 branches, including 8 Islamic bankingbranches, and over 300 ATMs, in a market with a population of 60 million. During thelast fifteen years, the Bank has concentrated on growth through improving servicequality, investment in technology and people, utilizing its extensive branch network,developing a large and stable deposit base.I have learnt a lot in Pakistani Chowk Branch about Opening of Accounts, Clearingand Transferring of Cheques, Issuing the Cheques Books, Demand Drafts otherDocuments etc. The exposure has given me a lot of knowledge especially aboutconsumer banking operations in branch. Bank was previously working on MIBssoftware. In the year 2004 bank introduced new latest software SYMBOL. Nowmost of the branches located in Karachi, Lahore and Islamabad regions are working

on SYMBOL software. MCB is the leading entity of the country that has always beenat the forefront of economical, technological, financial growth and stability.

EXECUTIVE SUMMARY


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01 | business internship report

OUR VISION & MISSION

To become the preferred provider of quality financial services in the country withprofitability and responsibility and to be the best place to work

VISION STATEMENT

To be the leading financial services provider, partnering with our customers for amore prosperous and secure future.

MISSION STATEMENT

We are a team of committed professionals, providing innovative and efficientfinancial solutions to create and nurture long-term relationships with our customers.In doing so, we ensure that our shareholders can invest with confidence in us.


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Banking industry is one of the fasting growing industries of the last decade. We haveseen many ups and downs in the banking industry. This is the requirement of ShahAbdul Latif University to do Eight Weeks Internship in any organization to gainpractical exposure of the theoretical aspects studied in the semesters.

MCB is one of the leading banks of Pakistan with a market share of 12.5%. It is also

the pioneer in innovative consumer banking in Pakistan. It is the largest privatesector bank in Pakistan. It is the most preferred provider of quality financial servicesand is usually considered the best place to work. It has developed a large stabledeposit base. The bank today boasts of largest online branch and ATM network inthe country.

ACHIEVEMENTS

MCB is the only bank in Pakistan that has achieved 7 Euro Money Awards and 5Asia Money Awards for being The Best Domestic Commercial Bank in Pakistan,

along with several other Awards including the Best Trade Finance of Pakistan for twoconsecutive years. These accolades are the proof of our consistent effort in providingthe customers with utmost care and quality.

COMPANY HISTORY

Muslim Commercial Bank Limited. (MCB), the largest private sector bank inPakistan. Incorporated in 1948 by the Adamjee group, MCB soon earned areputation of solid and conservative financial institution. During the 1960s the bankgrew rapidly with a concentration on trade finance products. In 1947, MCB wasnationalizes along all other private sector banks. MCB was the first bank to be

privatized in 1991 during the Nawaz Sharifs government financial sectorderegulation policies. During the first five years, the private managementconcentrated on growth utilizing its extensive network of branches and developed alarge and stable deposit base. Since privatization, the bank has made tremendousheadway in improving the operational efficiency through human resourcedevelopment and employment of technology. The bank today boasts the targetonline brand and ATM network in the country.

MCBs main focus remains on consumer banking and its growing reputation as a fullservice provider gives the bank an edge in front of increased competition in thebanking sector in Pakistan. With a network of over 1200 branches and a team ofdedicated professionals, MCB with an international outlook and a regional focus

INTRODUCTION


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ensures prompt customer service and innovative solutions to business and personalneeds.

03 | business internship reportThe consumer banking provides customers with innovative saving schemes,products and services. The ATM network is the largest in Pakistan and the PakRupee Travelers Cheques are market leaders. MCB was the first to introduce thephoto card with the introduction of MCB Master Card. Corporate banking ensuresassistance from a dedicated team of professional financial advisors for underwriting,project finance or corporate advisory services.

MAIN DEPARTMENTS AND THEIR JOBS

There are three main departments in any branch of MCB

GENERAL BANKING

FOREIGN EXCHANGE

ADVANCES/CREDIT

GENERAL BANKING

General banking deals with following services:

REMITTANCE

It is transfer of funds. Funds can be transferred in shape of pay orders, demanddraft, mail telegram and telegraph transfer. Payments of fees of differentorganizations, fulfillment of tenders, and collection of funds are the main functions ofremittance. Maximum part of general banking depends on this department.

Issuance of different kinds of remittance:

PAY ORDER

Pay order is the property of person/company that has to take the benefit of theamount being pay ordered by the concerned person. Pay orders are made for thepayment of fees, tender or issued for the payments of dealings. These are requiredfor the proof of payments made between the bank and the customer in the favor ofbeneficiary. These are noted in printed block letters and yearly serial numbers areissued from computerized system.

DEMAND DRAFT

Demand drafts are made for the beneficiary for payments, funds etc, these are madefor outstation branches of the concerned banks. An advice is also made for the

confirmation of the draft send. These are also approved and safe way of sendingamount to the beneficiary.


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These are also noted by computerized system and a serial number is issued fromthe computer system.


MAIL TRANSFER

Mail Transfer is made with in the city for transfer of amount. An advice is also madefor the confirmation of the draft send. These are also approved and safe way ofsending amount to the beneficiary. These are also noted by computerized systemand a serial number is issued from the computer system.

TELEGRAPHIC TRANSFER

Telegraph Transfer is telegram message for transferring the amount from one branchto other branch. A message advice and a confirmation advice both are made with TTnumbers that are issued for TEST. TEST depends on two steps:1. First TEST is on Day, Date and Code Number of branch.2. Second TEST is on Currency, whether Pak rupees or foreign currency, amount

and TT number issued from manual registers and confirmed from computerizedsystem.

PAYMENT OF PAY-ORDER AND DEMAND DRAFT

Pay-Order and Demand Draft both could be paid in shape of physical payment ofcash and in case transfer of amounts; the amount could be transferred in thebeneficiary account. In case of physical payment authorized signature of beneficiaryare taken for the proof of amount being paid to him and in case of transferring ofamount authorized signature of the beneficiary are checked and verified for reducingrisks.

CANCELLATION OF PAY-ORDER AND DEMAND FRAFT

Any type of Pay-Order / Demand Draft is cancelled by the permission andinstructions made by the beneficiary. The customer could only cancel the pay-

order/demand draft as the verified signatures of beneficiary are present on theadvice.

VOUCHERS

Vouchers are made for records and they should be completed in all respects, theamount, date, its head, particulars, amount in words, authorized signatures andcontra advice or voucher should be present. Vouchers are advice either debit orcredit slips. They are contra of each other. If any voucher of debit is passed its contracredit voucher should also be passed for the balancing of accounts, their respectivesheets.


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INWARD CLEARING

It depends on those checks that are cleared inter branch and with in the city. As theconcerned branch receive any type of clearing check first of all physical checking istaken place. For clearing procedure there should be two days margin. Thesecheques have their vouchers and the amount of the cheque and voucher should beidentical. Than these cheques are stamped and noted on receiving sheet as well asfeed in to the computerized system.

OUTWARD CLEANING

It depends on those cheques that are cleared out side the city. For outward clearingcheques are send because the home branch has there accounts but checks are ofother banks. Contras of these cheques are vouchers that are recordrd in the homebranch.

TOKEN

Token is the process of different steps of checking of the cheque:1. PHYSICALLY CHECKING

First of all the cheque is physically checked.2. Date

It should not be advanced of the latest date, date should be limited to only pastsix months.

3. AMOUNTAmount in which words and figures should be written in clear writing. Any kind ofover writing and cutting should be prevented. Otherwise it would not be passedand returned to the customer.

4. PAYEES / BEARER CHEQUESIf the cheques are payees accounts head or they have marked bearer then these

cheques are not labeled token.5. VERIFICATIION OF SIGNATURESSignatures are checked as well as verified. In case of other representative of theaccount holder brings the cheque then two signatures of that person are taken.

6. STAMPSAfter physical checking of the cheques they are stamped.

ISSUANCE OF CHEQUE BOOKS

Any account holder that has opened the account he/she could credit his/her accountand for this purpose there should be a cheque book, so he/she could be able to

credit the needed amount whatever he/she wishes. For the issuance of the chequebook a person is advised to fill a requisite slip with his/her full names and the


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account number with two verified signatures. These signatures are checked and thenanother requisite slip prepared by the bank staff send to the NIFT, and it issues theprinted cheque books after completion of the procedure in two or three days.


Account holder can take it by singing on the issuance register or if the absence ofthe account holder another person could also take the cheque book only if he/shehas authorized signature of the account holder. When the cheque books are issuedthey are feed in the computer system from the requisite slip so when the chequesare given for the credit/transfer of amount they could checked. In this way neither thecheques could be repeated nor could the invalid cheques be claimed.

ISSUANCE OF ATM CARDS

Head office issues ATM (Auto Teller Machine) cards with their PIN (PersonalIdentification Number) codes and when the customer claims for their ATM card theyare checked from the list that is also issued from the head office, and the claim ischecked from the list and if the name is found than the cards are issued by taking asignature and their PIN codes are given to them by taking signatures on their ATMcard forms. The ATM card has been activated by the number provided at or with thespecific card.

CANCELLATION OF ATM CARDS

The Cancellation of ATM Cards becomes necessary in the following conditions:If folded or damagedStolenPIN code missed or forgottenCard captured by the machine and expiredIf requested by the customerThe cancellation or inactivity of the card is being processed by the request orinstructions provided from the customer.

SALE OF RTC

The selling of the RTC has been described in step wise as follow:In this step the bank initially seeks the information whether the person is going topurchase the RTCs on cash or on account basis. If the transaction is based onaccount then initially the cheque has been cleared than if the amount is sufficientthan RTC has been issued after deducting after the amount from the account.If the amount of RTC is more than Rs. 25000 than tax has levied by 0.3% in case ofabsence of the tax deduction form. After this the bank handed over a form for RTCsale dully filled by the concerned person and after this RTC number has been notedon the form as well as their amount and quantity. After this we note down the soldRTC in the concerned register. MCB Pak rupee travelers cheques the fastest way tocarry cash for high value cash transactions. MCB rupee travelers, the market leader

in the rupee travelers cheque market in Pakistan is celebrating nine years ofleadership in July 2002. Launched in July 1993, MCB RTCs have been preferred


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choice of the rupee travelers cheques target market. With over 1.5 million satisfiedcustomers in five years, MCB has been striving hard to package their product betterand better each year.


We now have RTCs with maximum security features, we have incorporated televerification with the product where customers can call and check whether the RTC isvalid. At the same time, our RTC team anywhere in Pakistan ensures superior qualityservice.

SHORT NOTICE TERM DEPOSIT

There are short times either for seven days or for thirty days and the profit iscalculated by the given percentage from the head office at the payment time. If the

customer fails to complete the duration of seven days or thirty days then no profit isgiven. If any amount is outstanding, only in case of automatic continuity, then theprofit is calculated for the whole period by the rate given from the head officemultiplying from the numbers of days divided by the 365 for the one-day profit.

AMOUNT, RATE, NUMBER OF DAYS / 365 DAYS

Profit is calculated for the six months only for outstanding SND. Zakat is alsodeducted but if Zakat deduction form is submitted to the bank, no Zakat will bededucted then, 10% with holding tax is also deducted from the profit to calculate netprofit.

CALL DEPOSIT

It is highly liquid instrument, it can be cashed at any time when needed. Thisinstrument bears no profit on it. It is mostly used for the purpose of tenders.

FOREIGN EXCHANGE

LCS ESTABLISHMENT

Any company can provide its documents containing e-form, bill of lading, shortshipment notice in case of short shipment, packaging list etc. the informationprovided from the documents is recorded in the LC establishment portion or sectionin the computer.

PAYMENT OR RETIREMENT

When the transactions have been completed then approved documents from theconcerned bank are sent to the home bank for the payment or retirement of the LC.These transactions have recorded in the payment or retirement section of thecomputer.


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FOREIGN CURRENCY DEPOSITS

The Foreign Currency Deposit relates with the foreign currency accounts, cashdeposit or credit and foreign remittances.


FOREIGN REMITTANCES

In this we received the messages through SWIFT for foreign remittances, which werecord in their respective accounts, if these are relates with Pak rupees than it wastransferred in Pak rupees with the latest rate and if this relates to the foreigncurrency than it is dealt with accordingly. The amount has been credited to therespective account and the head office has been debited against it. After creditingthe amount to the respective account. All the subsequent entries have been made in

the registers and also in the computer record as the system now have beenupgraded on computers. As we are reporting daily to the head office, so an annexurehas been maintained and faxed to the head office.

ADVANCES / CREDIT

This department deals with the approval of different kinds of loans to differentbusiness entities. The loans, which are being approved by the department, are keptwith some securities such as bonds, properties and any other type of asset, which isequally valuable or more than this as a guarantee. Every branch has its own limit, if

the amount of loans is with in the limit of the branch then it is being approved by thebranch but if the amount of loan is exceeding the limit then it has to make it approvedby the head office. In this case the branch stored all the required papers and sentthem to the head office for necessary action. If the head office approved the loanthen mostly the period contains a year. And if the party requires more loan than aftera year the loan has been re-approved required that they should have the limit. Incase if the head office do not approve the loans then the return letter came back withthe reasons of not approval of loan and if the reasons have been made approved bythe concerned party then it could be sent again for approval. This whole process isrecorded in the back remain with the bank until the party has not refunded all theamount of loan and bank has the authority to liquidate those assets for preventing it

from loss.

BASIC BANKING ACCOUNT

In compliance with the directives of State Bank of Pakistan via BDP Circular No. 30,issued on 29th November 2005, the Basic Banking Account has been launched witheffect from 27th February 2006. This product has been introduced to facilitate the lowincome group as well as the existing account holders who wish to convert theirregular savings or current account into Basic Banking Account.The Basic Banking Account is a current account and can be opened with a minimuminitial deposit of Rs. 1000/- only. Account holders will be allowed 2 deposittransactions (each cash or through clearing) and 2 withdrawals (cash or clearing)each month. All customer-initiated transactions over and above this limit will be


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charged a transaction fee. However unlimited free charge cash withdrawals areallowed through MCBs own ATMs.


PAK RUPEE OR FOREIGN CURRENCY ACCOUNTS

SAVING ACCOUNT

MCBs Foreign Currency Savings Account offers you attractive returns on yourforeign currency investment. Unlimited transaction facility, profit credited to youraccount on a half yearly basis. You can avail a credit facility up to 75% of the totaldeposits value. A foreign currency account can be opened at any of our foreign

exchange dealing branches.

MCB RUPEE MAXIMIZER ACCOUNT

MCB Rupee Maximizer Account provides you an opportunity to convert your therecent changes in the economic scenario MCB launched the Rupee MaximizerAccount exclusively for its Foreign Currency Account Holders. MCB ForeignCurrency Account holders now have an opportunity to convert their Foreign CurrencyAccount balances into Pak Rupees and earn a profit at the rate of 12.6% per annum.Other features include profits calculated on a daily product basis, no restrictions onthe number of the withdrawals, no minimum deposit required. Special benefits

include one free ATM card and locker facility free of cost. MCB Rupee MaximizerAccount is being advertised in leading daily newspaper as well as local papers.Foreign Currency Account into Pak Rupee and earn profit at the rate of 12.6% perannum.

CURRENT ACCOUNT

MCBs Foreign Currency Current Account offers you the convenience of unlimitedwithdrawals i.e. access to your funds whenever you want without any notice. Thereis no limit on the number of transactions you make in a day.

KHUSHALI BACHAT ACCOUNT

Open a Khushali Bachat or Dollar Khushali Account, both require low minimumincome deposits plus you receive profit on daily product basis. Get a saving withcurrent account facilities through saving 365 or double your investment throughcapital growth and receive monthly profits through monthly Khushali.

MCB ENHANCED SAVING ACCOUNT

Keeping in view the small savers, looking for higher returns on their savings, MCB

introduces the Enhanced Saving Account (ESA). This account can be operated viaall the channels available at the MCB such as Cheques, Virtual Banking, Mobile


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Banking, MCB Smart Card and ATMs/Point of sales all across Pakistan. MCB ESA,governed under PLS rules, can be opened with a minimum initial deposit of Rs. 5000and the profit shall be calculated on an average basis maintained by the customerduring that month.


Following shall be the slabs used for profit calculation:

If average balance is greater than Rs. 20,000 standard PLS rates will apply.

If average balance less than Rs. 20,000 (or equal to 20,000) with up to 4withdrawal transactions per month (excluding ATMs, PSO, and VB) 4.0% p.a.

If average balance is less than Rs.20,000 (or equal to 20,000) with over 4withdrawal transactions per month (excluding ATMs, PSO, and VB) then standardPLS rates will apply.

The rates mentioned above are expected and shall be revised at least every six

months. Average account balances can exceed Rs. 20,000 during a month.However, in that case, they shall be paid profit as per the standard PLS rates, asmentioned in slabs above. Profit shall be calculated on average basis and shall becredited to the account after each calendar quarter.

MCBs PARTNERS IN BILL PAYMENT

Pay your bills 24 hours a day, a day, 7 days, and a week. Make total payments of upto Rs. 20,000 per day. Carry out up to 10 transactions per day per card. Make eitherfull or partial payments. Full payment is required for PTCL only. Recharge your pre-

paid account for Mobilink, Ufone and Telenor as per their fixed slabs. Pay as aregistered or non-registered user. Registration will help you avoid the time delay inentering details each time you carry out a transaction.Pay with MCB ATMPay through MCB VirtualPay through MCB Call Centre

INVESTMENT BANKING

Our investment banking team has emerged as a leading player in Pakistansinvestment banking arena. The team handles advisory, corporate finance and capital

markets related transactions, within these areas the team has developed expertisein:

Private Placements

Debt/Equity Underwriting

Team Finance Certificates

Loan Syndication

Arrangement of Non-Fund Facilities

Mergers and Acquisitions

Privatization

Corporate Advisory

ABOUT REMIT EXPRESS


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Fastest to Pakistan, anywhere in Pakistan, the fastest way of getting your moneyacross to Pakistan. Remit express offers low cost remittance from U.A.E and SaudiArabia. Your relatives friends or business associates receive drafts within 72 hours.MCB remit express has been specifically designed to meet the needs of the

expatriate Pakistani community residing in the gulf countries.


FEATURES

Easiest and safest way to remit funds, remittance within 24 to 74 hours, personaldelivery to the beneficiary, delivery confirmation to the remitter, message facilities forboth parties. Your beneficiary will receive the amount even if he/she does not havean MCB account.

PERSONAL LOAN

The more you praise and celebrate your life, the more there is in life to celebrateMCB personal loan shortens the distance between your dreams and yourcelebrations. It is fast, flexible and affordable, speedy loan approval. No guarantor /security / collateral required. Borrow up to Rs. 1,000,000. 1 to 5 year tenures, partialand full adjustments allowed anytime during the tenure, optional insurance, equalmonthly installments, lower interest rates, higher loan limits, loan amount renewedanytime after nine months. You as an individual can gain and benefit the throughMCB consumer banking. In MCB you get friendly, efficient and attentive personalizedbanking services, a unique banking relationship experienced by each MCB client.

PRODUCTS AND SERVICES

ON-LINE

The largest network of over 315 on-line branches in the country and growing.Providing customers with 24 * 7 real time on-line transaction facilities.

MCB FULL DAY BANKING

Enjoy the convenience of extended banking hours from 9to 5, even on Saturdays, for satisfying your banking needsat all MCB Full Day Banking branches across the country

where you are now served with a wide range of services through the day.

365

A deposit account for customers with substantial balances, offering profit on a dailyproduct basis with the facility of unlimited withdrawals.

MCB SPECIAL RUPEE TERM DEPOSITS


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MCBs Special Rupee Term Deposits offer a very attractive term investment optionwith ease and convenience. Tenors options available are of 3 months, 6 months, 1year, 3 years and 5 years. You can also avail a credit facility up to 75% of your totaldeposits.


MCB LOCKERS

The best protection for your valuables. Lockers of different capacities are availablenationwide.

MCB REMIT EXPRESS

International remittances with a two-way messaging facilitydelivered at your doorstop within 24 to 72 hours.

MCB ISLAMIC BANKING

MCB Islamic Banking provides Riba Free and ShariahComplaint solutions to various customer segments in agrowing number of cities. With the help of Shariah

specialists, lawyers and professional commercial bankers, we have the bestsolutions to cater your needs the Islamic way.

MCB CARDS

A local Point of Sale acquiring network facilitating acceptanceof all major card brands.

CIRRUS

MCB Smart Card and ATM card holders can avail cash withdrawal facility at over900,000 ATMS worldwide.

MAESTRO

MCB Smart Card and ATM card holders enjoy the convenience of shopping at over 5million POS locations globally.

MCB VIRTUAL INTERNET BANKING


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MCB provides the convenience of banking on the internet. Whether at office, homeor traveling log on to www.mcb.com.pk and enjoy 24-hour access to all youraccounts at MCB for the largest array of services.


MCB CALL CENTRE

Call now for answers to your queries about banking services. ATM services, mobilebanking services, RTC services, tele-banking services and MCB product information.

MCB MOBILE BANKING

Banking at your fingerprints. Dial in anytime to get information regarding balance andmini statements.

MCB ATM 24-HOURS CASH

The nations largest network of over 210 ATMs and growing. Get 24-hourconvenience of cash withdrawal, mini-statement, bill payment and funds transferservices.

MNET

MNET is an electronic hub for ATM sharing plus othertouch points. Members include 12 local financialinstitutions enjoying ATM sharing and bureau services.

Pakistans largest operating switch with the highest transactions volume.

MCB SMART CARDS

MCB Smart Card - a secure instrument of payment,offering Cash Free convenience. It provides 24-hourdirect access to your bank account and unmatched

functionalities. MCB EASY BILL PAY

MCB Easy Bill Pay is an easy solution to pay Utility and MobilePhone bills. MCB ATM Card or MCB Smart Card holders can easy

pay their bills through MCB ATMs, MCB Virtual-Internet Banking and MCB CallCentre with security and peace of mind.

CORPORATE FINANCING

Providing access to diversified financing options, including working capital loans,

term loans, trade finance services and investment banking.
http://www.mcb.com.pk/http://www.mcb.com.pk/


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INSTANT FINANCING

Get a loan instantly at any MCB branch. Offering same day financing facility againstliquid collateral at competitive pricing.


MCB RUPEE TRAVELLERS CHEQUE

The most widely accepted way to pay cash for travel-related purposes. A safe andsecure way to make payments nationwide.

MCB BUSINESS SARMAYA

MCB Business Sarmaya is a Running Finance facility against yourresidential property. It offers Running Financing up to 20 millionwith low mark-up and BTF at competitive rates.

MCB PYARA GHAR

MCB Pyara Ghar is an ideal Home Finance product that lets youpurchase, renovate or construct your home the way you havealways wanted. Financing available is up to Rs. 20 million.

MCB CAR4U

MCB CAR4U Auto Finance is your move that gets you not only a carof your own choice but leads you to the best in life. It is affordablewith competitive mark-up, flexible conditions, easy processing andabove all, no hidden costs.


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During the study of internship, I drew the following conclusions.

MCB limited has implemented a SYMBOL system which promises the efficiency

growth of the bank. MIS and computerization of branches has enhanced the

efficiency of the bank. Delegation of authority, wide branch network with ATM

installation and wide participation of employees in the decision making provides the

bank a competitive edge. The bank provides a conducive environment for career

growth. The bank pays a too low rate of interest on deposits which in unattractive for

its customers. There are too lengthy formalities and procedures involved in mortgage

of properties offered as collateral to the bank.

The MCB bank made substation progress, recording strong growth in revenues and

earnings. The main derives were increase in outreach, strengthened human

resources. Including changes at the senior management level, enhanced product

portfolios, improved control and vigilant credit risk management. Our primary focus

was our customers and we worked diligently through the year to increase satisfaction

and loyalty as the needs and expectation of our diversified base of customers

continued to expand. A key initiative aimed at including a segment based approach

to the overall business was the segregation of the retail banking group into

commercial and consumer banking groups. This expected to help the MCB bank in

providing customer centric solution in a more group generated healthy deposit and

strengthened its SME lending.

CONCLUSION


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1. Training can be provided with job rotations so each of the employees is capable

of doing others work in case of emergency, this will ensure no delays are met.2. As MCB earning a lot of profit stock options should be given to every employee.

3. Workers need more computer training.

4. MCB need to invest more in technology and bring all banking procedures up-to-

date.

5. They should implement advance technology and make it one window shopping or

one window service where each teller is capable of handling every transaction for

example payments, deposits, transfers, bill payments, foreign exchange, ATM

card issue and opening of new account. This will make MCB more proficient in

customer service.

6. ATM network needs to be updated more to handle transfers, deposits, bill

payments and print statements. This will free up a lot staff time.

RECOMMENDATIONS


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1. News Letters

2. Magazines of MCB

3. Annual Report of MCB 2008

4. Website: www.mcb.com.pk

5. Review of President of MCB 2004 Page No: 08 to 12

6. Personal interview with Nazeer Ahmed Shaikh (Branch Manager)

7. Personal interview with Aamir Ali Mangi (Operation Manager)

BIBLIOGRAPHY
http://www.mcb.com.pk/http://www.mcb.com.pk/


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understood to recognize that its copy right with its author and no information derived

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This report contains material, which is the property of the MCB Limited, Karachi and

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