Final Report

Prelude:The report has been prepared after three months long on the job study in Banani Branch of

BRAC Bank Ltd. In the introductory part of the report, the objectives, methodology, and

limitations of the study are mentioned. The company profile is given in chapter two. Chapter

two is deal with my job experience in BRAC Bank Ltd. I also discuss my critical observation

and give some recommendation at the end of chapter three.

The internship report is prepared in different way based on the personal observation in

customer service department. I have tried to show the things, which are being done in customer

service department of this branch. The knowledge, which has been acquired in my practical

orientation period, I have tried my level best to show in this report.

1.1 Objective of the studyEvery task has a particular aim. A study without objective cannot reach the destination. My

internship program was also directed to some particular targets. The main objective of the

study is to gain practical knowledge and experience on retail product management. The

specific objectives are written down bellow:

To know the overall retail product management,

To know the functions of retail banking of BRAC Bank Ltd,

To identify the customer serving systems of the bank,

The know the existing customer satisfaction,

To recommend the way to overcome the various problems in retail product

management.

1.2 Scope of studyThis report will give a clear idea about ‘Retail Product Management in the BRAC Bank Ltd.”

How many retail products does BRAC bank have? How they satisfy their customers? What is

the satisfaction level of the customers? What are the aims of next

Retail Product Management Of BRAC Bank Limited, Banani Branch 1

new that the bank provides? To have answers of all these questions, I tried to go through the

brochures of different products of BRAC Bank Ltd thoroughly, had discussions with officials

and customers. So I think this report will give a clear picture of customer satisfaction level of

BRAC Bank Ltd. And different leakages in retail product management of BRAC Bank Ltd and

how to overcome these leakages.

1.4 Importance of the study The study helps us to gain hands on knowledge in the retail banking products. The study has

enormous implication to develop the appropriate product management system in commercial

banks where the product management system is unorganized. The management of BRAC Bank

Ltd can use the findings and recommendation for their policy making and organizational

development purpose. It will help them to introduce a new dimension of strategic marketing in

banking sector of Bangladesh. Above all, the study has academic implications, which indicate

the academicians can develop them in this field in Bangladesh taking this study as an initiative to

study the customer banking product management in Bangladesh.

1.5 MethodologyThe three months internship program was basically executed by observing the daily activities

of the staffs and working in progress. The relevant information is collected from the primary

sources and also uses the secondary sources of information.

Primary data are collected through:

Observation for the total internee period

Open ended and close ended questions

Conducted interview both customers and stuffs of the branch

Face to face contacts with the officers

Secondary data are collected through:

Manuals of BRAC Bank Limited

Website browsing


Data gathered within the organization (BRAC Bank) itself

Bank’s other published information.

1.6 Limitations of the study

I have tried to present the paper with a very cautious approach. To prepare the report I had to

gather different relevant books, brochures etc. of the concerned bank. To prepare this report I

had to face the following constraints:

Time: I have seen that it is hard to do the office job and prepare the report at the same time. To

conduct data I had to visit different libraries and offices, but I used to work in the office from

9:00 to 6:00 PM. Therefore, it was very tough to arrange the time for report writing and data

collection.

Information: Through I had been coordinating well by the BRAC Bank officers; sometimes it

seems to me that I had not been provided all information needed.


2.1 About BRAC Bank LimitedCreating opportunities and pursuing market niches not traditionally met by conventional banks

primarily drive BRAC Bank Ltd, a full service commercial bank with local and international

shareholding. BRAC Bank has been striving to provide “best- in –the-class” services to its

diverse range of customers spread across the country under an on-line banking platform.

Today, BRAC Bank is one of the fastest growing banks in the country. In order to support the

planned growth of its distribution network and its various business segments, BRAC Bank is

currently looking for ambitious, goal oriented, enthusiastic, individuals for various business

operations.

The reason BRAC Bank is in business is to build a profitable and socially responsible financial

institution focused on markets and businesses with growth potential, thereby assisting BRAC

and stakeholders build a :just, enlightened, healthy, democratic and poverty free Bangladesh.

This means to help make communities and economy of the country stronger and to help people

achieve their dreams. They fulfill the purpose by reaching for high standards in everything they

do for their customers, their shareholders, their associates and their communities upon, which

the future prosperity of their company rests.

They all know that how important it to choose the right career and employer, and that’s the

reason why they want to give you the clearest possible information about their organization.


2.2 Background of BRAC Bank LimitedBRAC Bank Ltd is a scheduled commercial bank in Bangladesh. BRAC Bank committed its

business operation on 4th July 2001, in Dhaka, Bangladesh. This bank is mainly owned by the

largest NGO in Bangladesh-BRAC (Bangladesh Rural Advancement Committee). The bank

has positioned it self as a new generation bank with a focus to meet diverse financial needs of

the economy.

Formation and status of the bank:

BBL is established under the banking companies act, 1991 and incorporated as a public limited

company by shares on 20th May 1999 under the companies act, 1994 in Bangladesh. The

primary objective of the bank is to carry on all kinds of banking businesses. The bank has

started its operation on 4th July, 2001 by special permission of Supreme Court.

Shareholders of BRAC BANK Ltd: The shareholders of BRAC Bank are as follows: NAME NO. OF SHARE AMOUNT (TK) %BRAC 3173900 317390000 63. 478%International Finance Corporation (IFC)

875700 94980000 18. 996%

Shore Cap International Ltd. 949800 87570000 17. 514%Others 600 60 0. 012%TOTAL 5000000 500000000 100%

Branches: There are 26 branches of BRAC Bank Ltd through out the country. 14 of them are

inside Dhaka city, 1 in Comilla, 3 in Chittagong, 6 in Sylhet, 1 in Rajshahi and 1 in Khulna.

But at the end of this year, the target of BRAC Bank to reach 50 branches through out the

country.

Major banking operation:

BRAC Bank has a centralized banking structure through online banking system that resembles

the ABN AMRO model. BRAC Bank consisted of four divisions namely- Retail Banking,

Small and Medium Enterprise Division, Corporate Banking, and Treasury Division.


2.3 MissionBRAC Bank will adhere to higher professional and ethical business principles are

internationally acceptable banking and accounting standards.

Every BRAC Bank professional will need first of all a commitment to excellence in all that

he/she does, a keen desire for success, a determination to excel and a drive to be the best. They

will individually and jointly learn continuously from customers and professional colleagues

around the globe to improve the way they do business so that they are the best. They will walk

that extra mile enthusiasm and empathy to serve their customers succeed in their business and

remain loyal to their bank. They will set up goals for themselves and then exceed the goals that

they set up.

2.4 VisionBRAC Bank will be a unique organization in Bangladesh. It will be a knowledge based

organization where the BRAC Bank professionals will learn continuously from their customers

and colleagues to add value. They will work as a team, stretch themselves, innovate and break

barriers to serve customers and create customer loyalty through a value chain of responsive and

professional service, business prudence, efficiency and adding value will be the operative

words of the organization.

BRAC Bank will serve their customers with respect and will work very hard to instill a strong

customer service culture throughout the bank. It will treat its employees with dignity and will

build a company of highly qualified professionals who have integrity and believe in the bank’s

vision and who are committed to its success. BRAC Bank will be a socially responsible

institution that will not lend to businesses that have a detrimental impact on the environment

and people.

2.5GoalsBRAC Bank will be the absolute market leader in the number of loans given to small and

medium size enterprises, salaried persons, teachers, students, highfliers, businessmen etc.

through out Bangladesh. It will be a world class organization in terms of service quality and

establishing relationship that help its customers to develop and grow successfully. It


will be the bank of choice both for its employees and its customers, the model bank in the part

of the world.

2.6 Principles of BRAC Bank Ltd.Like every organization BRAC Bank has also some principles. These are:

Outstanding customer service

Effective and efficient operation

Strong capital liquidity

Aggressive leading policy

Strict expense discipline

2.7 Special Features Inter-branch transaction (online)

Customer oriented loan

Corporate banking

Cash management

ATM and BPM service

Locker service

Priority banking

2.8 Business Areas of BBLThere are mainly three major business areas where the BRAC Bank Ltd is performing with

high reputation. These areas are:

Retail banking

Corporate banking

Small and medium scale enterprises (SME)

Since I completed my internship on retail banking, it would be convenient for me to focus on

retail banking of BRAC Bank only.


2.9 Retail banking divisionThe retail banking division in BRAC Bank is very implicit and vast comparing to other banks

in the country today. The personnel of BRAC Bank are devoted to give their best effort to

satisfy their customers. So BRAC Bank serves its customers with respect and works very hard

to instill a strong customer service culture throughout the bank. They always try to introduce

more new and attractive products to go close to their customers.

Retail Banking is known as general banking where the individual customers get services time

to time from the local branches of the larger commercial banks. In BRAC Bank Retail section

has been divided into two parts –

1. Distribution – Serve the acquired customers

2. Sales – Business acquisition

They both are interdependent and work closely with each other. Retail offers different types of

competitive banking products to the customers. The retail division of the BRAC Bank also

offers some special types of deposits and loan scheme for the customer attention. At present

BBL offers various attractive products:

2.10 Products and service offeringRetail products offered by BRAC Bank Ltd are classifies into three ways. They are:


Loan Products

Deposit Products

Cards

Fig: Products and services offered by BRAC Bank Ltd

2.10.01 Retail Products of BRAC Bank Ltd:

Loan Products: Doctor's Loan

Salary Loan

Now Loan

Car Loan

Teachers’ Loan

Study Loan

Travel Loan

Credit card Loan

Top Up Loan

High Flyer Loan

Secured Loan/ OD

Deposit Products: Fixed Deposit

Interest First Fixed Deposit

Abiram Account

DPS

Ezee Account

Saving Account

Current Account

Salary Account

Business Account

Femina Account


Cards: ATM/Debit Card:

- VISA ATM Debit Card Features

- ATM Locations

- Lost Card/Card Replacement

- Helpline

Co- Branded Cards:

- Aarong Card

- ALICO Card

- DIA Gold Card

Other Services: Locker Service

Credit Cards.

Some other Services: Non- Stop Banking:

- SMS Banking

- Direct Internet Banking

- Phone Banking


http://www.bracbank.com/php/product/include_card_main_in.php?page=32




2.10.02 Features of Customer Products of BRAC Bank Ltd.

Loan Products:

1. Doctor's Loan: BRAC Bank introducing Doctor's Loan, an exclusive loan facility for the Doctor's fraternity.

Now practicing Doctor's can avail this loan very easily to meet their professional needs.

Eligibility

Having M.B.B.S. with 2 years of experience

A salaried or a self employed Doctor's

Aged between 25 to 55 years

Maximum Amount

Taka 15 Lac

Features

Loan from BDT 2 Lac to BDT 15 Lac

No Security Required

Loan in 48 Hours

2. Salary Loan:A salaried individual working in Bangladesh can keep an extra 15 month's salary to his pocket

with the help of BRAC Bank Salary loan, Loan against his salary Because BRAC Bank has

been designed the concept of Salary Loan keeping the customers into their mind..

Eligibility

Employed as a regular salaried staff

Have minimum age of 25 years, max - 53 years (at the time of application)

If you earn a gross monthly salary of Tk. 10,000

Maximum Amount

Anywhere between 1.5 lac to 10 lac (maximum)


Features

Loan up to 15 times of your Salary

No collateral of cash securities

Loan processed just within 24 hours

Flexible repayment Equal Monthly Installments (EMIs) over a period of 12 months to

60 months

Person with salary account with BRAC Bank will enjoy 1% less than the prevailing

interest rate

Documents required

Last 3 month's bank statement

Last salary slip/Letter of introduction

Proof of identity

Proof of residence

Proof of employment of minimum 2 years at the current organization

3. NoW Loan:The concept of NoW lone described by BRAC Bank as 'You choose while we pay'!! Life is

good making it better when the customer can enjoy BRAC Bank NoW Loan. In case a person

need to purchase home appliances, furniture's, computer or other consumer durables for

personal use, the bank offer him the most appropriate solution with the NoW loan.

Eligibility

Letter of Introduction

BRAC Bank account holder aged from 25 to 55

A salaried employee with minimum monthly income of TK 10, 000

Employed in your current organization for two years

3 months Bank statement (latest)

Pay slip required if salary paid in cash

For Business person


TIN

Business proof - 2 years

3 months personal and company Bank statement

Permanent address must be where you operate

Maximum Amount

15 times of gross monthly income

Features

No Collateral / Cash Security

72 Hour Processing

Small Monthly Installments

Family members guarantee

4. Car Loan BRAC Bank Car Loan can stop a customer dreaming and Start driving. Whether the customer

wants to purchase a brand new car or a reconditioned one, the bank has the most customer-

friendly car loan scheme available

Eligibility

Both salaried executives and business persons

Age between 21 at the time of application to 60 at the time of maturity

Minimum monthly income BDT 25,000

Length of service/Age of business: Minimum 2 years

Maximum Amount

100% of the vehicle price

Maximum BDT 2 million

Features

100% Car value financing

Loan status in 72 hours

Both unregistered Brand New/Reconditioned car finance, Loan term: 12-60 months.


* This

figure

is indicative and can change over time

5. Teachers’ Loan: 'Honest profession, Honest Service'. BRAC Bank Teachers' Loan provides a wedding or a

dream holiday, financing a business or surviving an emergency, Teachers Loan can be

applicable just within three days of application!

Eligibility

A teacher of any reputed school or university

Have a minimum length of service record of at least two years

Have a minimum net salary of Tk. 5000

Have a minimum age of 23 years

Maximum Amount

10 times of your gross monthly salary

The loan amount stretches from Tk. 50,000 to Tk. 10,00,000 (maximum)

Features

Fastest Processing Time


Minimum Loan Documentation

6. Study Loan 'Your gateway to the world' is the motto of BRAC Bank. The Study Loan gives the child

deserves the best education that every person have planned it ahead. BRAC bank has the

perfect solution for their child's future without worried about financing.

Eligibility

Parent/ financial guarantor of the student pursuing higher education locally and abroad

Earning TK 25,000 per month


Retail Product Management Of BRAC Bank Limited, Banani Branch

Monthly installment schedule for Tk. 1 lac loan

Months 12 24 36 48 60

Amount 9168.48 4993.23 3616.27 2938.50 2540.26

14

Business Person:

TIN

Company and personal Bank statement (latest) 6 months

Maximum Amount

15 times of your gross monthly income

Features


Repayment scheme up to maximum of 5 years

Multipurpose facility to meet living expenses, airfare, personal expenses beside tuition

as well

For both salaried and self employed

7. Travel Loan 'It's time to fly', BRAC Bank Travel Loan opens the door for planning to take a trip abroad. It

gives the simplest way of financing, which have fast and easy loan processing. The travel lone

simply add excitement to the travel plan.

Eligibility

An individual with minimum monthly income of TK 15,000

A salaried or a self employed person


Maximum Amount

8 to 10 times of gross salary

Features


50% off on Foreign Currency Endorsement Fees

For Salaried and self-Employed individuals

What do you need to apply?

For salaried employees, tourist visa of the traveling country, last 3 month's bank

statement, last salary slip/ letter of introduction showing salary, proof of ID, proof of


residence, business card, photocopy of passport, quotation from travel agency regarding

airfare, proof of employment of minimum 2 years, applicant's & employer's name in the

address field family member guarantee.

For a self- employed person, tourist visa of the traveling country, last six months bank

statement, copy of trade license, TIN Certificate, proof of residence, spouse guarantee,

business card, photocopy of passport, quotation from travel agency regarding airfare.

8. Credit Card Loan Through the BRAC Bank credit card is necessary to get a loan from BRAC Bank. Loan can be

used for any reason from buying consumer goods, automobile to vacation expenses.

Eligibility

A one-year-old local credit card with any institution

A minimum of 12 months of satisfactory credit card relationship with any credit card

issuer in Bangladesh

Additional Requirements:

Salaried:

Letter of introduction pay slip

Latest 3 months Bank statement

Business Person

TIN

Proof of 5 years in business

Permanent address in the area where you operate

Company and personal Bank statement 6 months (latest)

Maximum Amount

5 times of credit card limit with a maximum of TK 1,000,000

Features

Any Purpose Loan

Status of the facility in just 72 hours

Flexible repayable plan in equal monthly installment


What do you need to apply?

Copy of credit card

Last 3 month's credit card statements

Proof of 1 year of credit card history

Personal guarantee of immediate family member

9. Top Up Loan BRAC Bank Top Up Loan is easy loan for good borrower. This unsecured loan is designed to

meet various personal needs without mentioning the purpose at all. By applying according to

the requirements Top Up lone can be available to the customer.

Eligibility

An existing retail borrower of a reputed financial institution with good repayment

history

A salaried or a self employed individual


Maximum Amount

Taka 10 Lac

Features

No tiring paper work

Facility status within 72 hours of application

10. HighFlyer Loan BRAC Bank's HighFlyer Loan is for airline, GSA & Travel Agency a professional is to makes

the customer long cherished desires an absolute reality. Enjoy life to the fullest and take benefit

of the varied opportunities it offers the HighFlyer Loan.

Eligibility

Maximum 20 times of your net monthly salary.

Minimum loan size is BDT 50,000, loan is available up to BDT 500,000.


Maximum Amount

15 times of your gross monthly income

Features

No Security

Fastest Processing Time

Loan up to 5 years

Attractive interest rate

11. Secured Loan/ OD A special scheme that allows the customer to avail cash at nominal interest rates. The security

of the customer is kept untouched in the Bank's custody as the value grows.

Eligibility

All BRAC Bank account holders aged from 21 to 65

People from all income groups - salaried employees and self-employed business people

with security in their possession

Maximum Amount

Maximum amount can go up to Tk 5 crores. We even allow loans up to even 100% of

the value of your securities (conditions apply)

Features

Allowed to choose between the quarterly repayment option and the monthly installment

option

Can avail the facilities in single or in joint names

Interest will be calculated using reducing balance method

Deposit products:

1. Fixed Deposit: Opening Requirements-

» A Current Account or Savings Account

General Features-

» A term deposit with a guaranteed monthly return on investment

» Competitive interest rates


» Early encashment flexibility

» Secured Loan and/or Secured Overdraft eligibility

Related Conditions and Charges

» Early Encashment Charge: no penalty charge; interest will be paid at prevailing Savings

Account rate if FD is maintained for at least 3 months

» Secured Loan and/or Secured Overdraft eligibility: up to 95% of Abiram value

» Secured Loan and / or Secured Overdraft eligibility: up to 80% of IFFD value

Interest Features

» Proposed rate of interest on Deposits: With effect from 20.10.2006:

FDRs: Principal Amount & Rate of Interest

Tenor100K-

999K

1000K-

4999K

5000K-

9999K

10000K-

49999K

50000K-

99999K

100000K

& above

1 month 9.00% 9.00% 9.00% 9.00% 9.00% 9.00%

3 months 11.00% 11.00% 11.00% 11.00% 11.00% 11.00%

6 months 11.00% 11.00% 11.00% 11.00% 11.00% 11.00%

12 months 11.00% 11.00% 11.00% 11.00% 11.00% 11.00%

24 months 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

36 months 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

2. Interest First Fixed Deposit:BRAC Bank Interest First Fixed Deposit lets the customer draw the interest instantly at the

time of deposit. The customers don’t have to wait till maturity to receive interest on Fixed

Deposit. A deposit scheme where the client receives interest in advance.

Features

Attractive rate of return

Loan facility against the IFFD


Interest First Principal Amount & Rate of Interest

Tenor 100K & Above

3 months 10.75%

6 months 10.75%

12 months 10.75%

3. Abiram Account: BRAC Bank 'Abiram' Account is a special type of Fixed Deposit scheme, which offers the

flexibility & comfort of having a guaranteed monthly return on the investment. With BRAC

Bank 'Abiram' Account, the customer can ensure a safe & steady return on the investment.

Cause hard earned money of the customer is paying-off immediately;

Features

Monthly interest of the deposit

Attractive rate of return

95% loan against the deposit.

ABIRAM Principal Amount & Rate of Interest

Tenor100TK-

999K

1000TK-

4999K

5000K-

9999K10,000K & +

12 months 10.75% 10.75% 10.75% 10.75%

24 months 10.00% 10.00% 10.00% 10.00%

36 months 10.00% 10.00% 10.00% 10.00%

4. DPS (Deposit Premium Scheme):BRAC Bank's Deposit Premium Scheme is a savings plan that adds value to the hard earned

money.

Features

Monthly installments can be as low as Tk. 500 or any multiples of it

Choose any day as the installment date

Receive a Savings a/c with a personalized cheque book


On-line banking facilities

The customers don’t need to stand in a long queue to deposit DPS Installments. He can

always deposit more than one installment in the savings account and the bank will

automatically transfer the installment to his DPS account on due dates

5. Ezee Account:

'Banking That Sets You Free' BRAC Bank offers Ezee Account a non-cheque interest bearing

account for small savers who are in frequent need of transaction. It doesn’t need to write a

cheque or stand in a long queue to draw money from BRAC Bank. Customer can get an ATM

card to operate their account round the clock.

Requirements for opening an Ezee Account:

2 passport size photographs of account holder

1 passport size photograph of nominee

Photo copy of photo ID

Proof of address

Initial deposit of minimum BDT 10,000

Features

Interest rate is 4%

Deposit in any Branch

24 hour access to ATMs and POS

Interest on daily balance

No minimum balance

No ledger fees

5. Savings Account

Retail Product Management Of BRAC Bank Limited, Banani Branch

Monthly

Installment

Amount (BDT.)

Maturity amount after completion of all regular installments

payment*

4 Years(8.5%) 7 Years(9.0%) 11 Years(9.5%) 14Years(9.75%)

500.00 28,667.00 58,650.00 116,603.00 179,550.00

1000.00 57,334.00 117,300.00 233,207.00 359,101.00

21

A regular savings account offering interests on deposit amount.

Requirements for opening an Ezee Account:

Primary Account opening balance - 15,000 BDT

No minimum balance required

2 copies of your recent photograph

Valid photocopy of you ID Card/Driving License

1 copy of Nominee's Photograph

Features

8 transactions

Cash withdrawal and deposit of 5 lac and above need clarification

No forfeiture rules or hidden costs

No requirement for notices to be given before making a withdrawal

Use our network of ATMs for easy cash withdrawal

Get mini balance statements from our ATM whenever you need Interest rate of 5.5%

on average monthly balance

6. Current Account BRAC Bank's Current Account is a normal checking account, gives the option to deposit and

withdraw money for day-to-day needs.

Requirements for opening a current Account:

Primary Account opening balance - 15,000 BDT

No minimum balance required

2 copies of your recent photograph

Valid photocopy of you ID Card/Driving License

1 copy of Nominee's Photograph

Features

ATM card for easy cash withdrawal

Withdraw money from any ATMS

Deposit cheque at any branches and get the fund transferred to the account

immediately


Use online banking facility for free Easy access to other facilities

No interest rate.

7. Salary Account BRAC Bank Salary Account is a payroll account for Employers and Employees. As an

organization, it can opt for Salary Account to enable easy disbursements of salary & enjoy

numerous other benefits.

Eligibility

The organization needs to have a minimum of 10 employees and a payout of Tk. 1 lac per

month and an average salary per employee of Tk. 10,000 per month.

Zero Balance

There is no minimum balance required to open Salary Account. Employees can open Salary

Account with zero balance

ATM Debit Card

Employees will be provided with ATM Debit Cards to allow them to access to 24 hour

banking. These ATM Debit Cards can also be used for retail purchases at various stores all

around the country.

Saving Interest

The account also accrues interest on deposits. No minimum balance is required to earn interest

on the account. All an employer would require to do is to send BRAC Bank an advice (in the

form of a cheque/debit instruction etc) for the total salary amount along with the salary details

of the designated employees in a soft and hard copy format and the bank will credit the

respective employees' accounts as per your statement of advice.

8. BIZNESS Account

Bizness Account is an interest bearing account only for business Enterprise for SME and

Retail Banking. This product has been set in a way to encourage small & medium


entrepreneur to enter into the wide range of modern banking facilities of BRAC Bank

Limited.

Eligibility:

Small and medium sized business entrepreneur of a sole proprietorship business

Entrepreneurs aged between 18 to 60 years

Opening balance - BDT-10, 000.00

Features

4% interest on daily balance

Smart Business Card

24 hour Access to ATMs/ POS

Tk-50, 000 withdrawn facility (per day) from ATM & Tk-100, 000 from POS

No Minimum Balance, No Ledger Fees, No hidden cost

No bar for using POS

Phone-Banking, Online Banking, SMS Banking, Internet Banking facility

Interest paid to account twice a year

Cards:

There are two types of debit cards introduced by BRAC Bank Ltd. They are:

VISA ATM/Debit Card

Co-Branded Card

1. VISA ATM/Debit CardATM /debit card is a plastic card to be used to mainly withdraw cash from automated teller

machine (ATM). By opening an account with BRAC Bank Limited, customer can have ATM

card.


Person who are not eligible for ATM card:

- Joint accounts operated by joint signature

- Accounts of minors

- Accounts under attachment order

- Accounts under disputes

- Dormant accounts

ATM/Debit Card features:

Draw money up to BDT 30,000 per day

Check balance statements of your ATM and POS transactions

Get a Mini Statement

Change PIN number

Use it in BRAC Bank POS outlets to pay

24 hour hotline available to resolve queries and problem

ATM Locations:

:: Dhaka ZONE::

1. Gulshan Branch 1 Gulshan Avenue, Gulshan Dhaka2. Banani Branch 10, Kemal Ataturk Avenue, Banani Dhaka3. Panthapath Bashundhara City Market, (Ground Floor) L-1, B1, 13/Ka/1, Panthapath Dhaka4. Satmasjid Road Branch 766, Satmasjid Road, Dhanmondi Dhaka

13. Wari Bakul Tala Complex, Shop # 19 6, Folder Street, Wari Dhaka 14. Green Road Shop # 5, Suvastu Office Holding # 51-52, Green Road Dhaka15. RIFELS Square Rifels Square Peelkhana, Dhaka16. Bonosree House No. 2, Road. 3, Block-D, Project "Bonosree" Eastern Housing Limited Rampura, Dhak-1219



5. Moghbazar Branch Aarong Plaza (Ground Floor) 211, Outer Circular Road, Moghbazar Dhaka6. Rampura 15, East Rampura, Shop # GF-1, Green Tower (Ground Floor), DIT Extension Road Dhaka7. Elephant Road Sheltech Sierra, 236 New Elephant Road Dhanmondi, Dhaka8. Mohammadpur 12, Gaznabi Road, College Gate Mohammadpur (Opposite to sohrawardy Hospital) Dhaka9. Mirpur Branch House # 13, Road # 3, Block-A Section-11, Mirpur, Dhaka10. Uttara Branch Plot # 1, Road # 15, Sector-3 Uttara, Dhaka11. Baily Road 1/5 nawratan Colony Property Arcate New Baily Road, Dhaka12. Bashundhara, Baridhara Bashundhara Bazar Block-A, Plot-125 Bashundhara R/A, Dhaka

17. Delta Medical Delta Medical Centre Limited 26/2 Darussalam Road Mirpur-1, Dhaka-121618. BRAC University BRAC University 66 Mohakhali, Dhaka19. Narayangong Holding No. 147 (113 Old) B.B Road, Narayangong Dhaka :: Chittagong ZONE ::

20. Momin Road Branch Chittagong 2, Momin Road Chittagong21. Panchaish 12/12 O R, Nizam Road Panchaish, Chittagong22. Chevron Chevron Clinical Laboratory 12/12, O. R. Nizam Road, Panchlaish, Chittagong :: Sylhet ZONE::

23. Zindabazar Branch Sylhet New Golden City Complex East Zindabazar, Sylhet

Lost Card/Card Replacement:If the card is lost:

At first call at the help desk to block the card ( 24 hours help)

Go to the respective branch to collect the ATM service form. After filling submit it to

the branch within 3 working days, it will be collected along with PIN.

In help line, balance cannot be enquired over phone.

Help Line:

These are two numbers of ATM help line:

» +88-02-8859200

» +88-02-8859201


2. Co- branded card:Cards that are offered by BRAC Bank rather than regular debit card they are called Co-

branded cards. There are three Co- branded cards offered by BRAC Bank.

Aarong Card:What is BRAC Bank Aarong ATM Card?

It's a co-branded ATM Card with special cash back feature.

How is it different from other cards?

Unlike other ATM cards, the holder of this card can enjoy 5% cash back facility while

shopping at any Aarong outlet and the discount shall be automatically credited to customer's

account with BRAC Bank.

Features

Save 5 % on every shopping at Aarong

Get cash back straight into your account and earn interest

Facilities

24-hour access to ATM's across Bangladesh

Alico Card:What is BRAC Bank ALICO ATM Card?

It's a co-branded ATM Card with Life Insurance coverage.


Unlike other ATM cards, the holder of this card can enjoy a special life insurance facility.

Features

Free Life insurance Coverage upto BDT 200,000 with world's leading insurance

company ALICO

No premium payment hassle

Facilities


Access to countrywide designated POS (Point of Sales)


DIA Gold:What is BRAC Bank DIA Gold ATM Card?

It's a co-branded ATM Card with special cash back and cash discount feature.


Unlike other ATM cards, the holder of this card can enjoy 10% cash back facility while buying

diamond products and 8% cash discount on the making charge of purchased gold items at any

DIA GOLD outlet.

Features

Save 10 % on Diamond jewelries

Save 8% on the making charge of Gold jewelries

Get cash back straight into your account and earn interest

Facilities


Access to countrywide designated POS (Point of Sales)

Other Services

Locker Service:BRAC Bank Ltd provides services to its customers. Customers having a saving or Ezee

account can easily have that service by filling up an application form. S/he can keep his/her

any valuable asset safe in the locker by paying a charge.

Charges:

Small Locker : BDT 2,500.00 (Yearly)

Medium Locker: : BDT 3,500.00 (Yearly)

Large Locker: : BDT 4,500.00 (Yearly)

Credit Cards:


A credit card is a piece of plastic used for purchasing goods and services and for obtaining cash

disbursements on credit terms

Two type of Credit Card:

VISA Card Gold- Local

VISA Card Silver- Local

The local Taka Credit Card will provide cardholders with an unsecured revolving facility.

Minimum and maximum credit limit will be Tk. 10,000 and Tk. 400,000 respectively.

Approved credit limit shall in no instance (subject to waiver from competent authority) exceed

two and half times of applicants gross monthly income as assessed through the application and

accompanying documents.

Features of BRAC Bank Credit Cards:

Strong ATM network, in 2007 bank is going to have ATM booths.

Non- stop payment through branch end till 8 PM on week days

Saturday banking transactions till 1 pm in selective branches

Through POS cash withdraw can be done

First supplementary card is free

Primary card applicant must be over 21 years of age. Supplementary card applicant

must be at least 18 years of age.

Services through branch end, call centre and HO

Reward point

Minimum monthly income to apply is Tk. 10,000/- for a silver card and Tk. 45,000/-

for a Gold Card.

Facilities:

Through ATM per day cash withdraw limit is Tk. 20000 – 24 hrs round the clock.

Installment payments.

Discount offers in different merchants


Utility bills can be paid through ATM using credit card

Co- branded credit card

Credit shield facilities

Requirements to acquire a BRAC Bank Credit Card:

Photograph (one copy)

Copy of passport (1st first page)

Personal bank statement for last 1 year

If salaried, latest original salary certificate/ pay slip

If self employed, copy of trade license and personal/ company bank statement for the k

last 6 months

Copy of TIN (Tax Identified Number) Certificate

Some more services:SMS Banking:

SMS Banking service is provided through mobile phone. Some features of SMS Banking are:

Instant Account Balance

Mini Statement

Easy to use

Fixed deposit maturity alarm

High value transaction alert


For Account Balance:

For Last Few Transactions:

Internet Banking:

Internet banking is provided through internet. Some features of internet service are:

Balance inquiry

Account Statement

Loan information

Lost card reporting

Own account fund transfer.

Phone Banking:

Phone banking is provided through phone. Some features of phone banking service are:

Account related information

Balance inquiry

Transaction details

Product information

ATM card & cheque book services


2.11 Operation Network Organogram:

3.1 Nature of the jobThroughout my internee period I have worked with more or less all the CSO (customer

service officer), and try to help at my level best to help them in their work. But I don’t get the

chance to work in the cash. So basically I know more about general banking. The tasks that I

have done throughout my internee period are given bellow:

BPM (Bills Paying Machine) & ATM (Automatic taller machine) executive,

Customer account opening,


Chairman

Managing Director (MD)

Deputy Managing Director (DMD)

Chief Operation Officer (COO)

Head of Retail

Western Union Money Transfer,

ATM card’s pin delivery,

Provide information of all types of customers query,

Verification of signatures of different issues,

Update the exchange rate,

Reconcile the accounts at the end of the day.

3.2 Specific responsibilities of the jobI have started my internee with the responsibility of BPM (Bills Paying Machine) & ATM

(Automated Taller Machine) executive. I give service there for more than one month. Then I

was assigned for the job of different account opening. Beside that another job was to give

service to the customers who received money or remittance through “Western Union Money

Transfer”. It was one of the technical and responsible jobs, though all of my tasks require a

lot of responsibility. I also gave the pin number of the ATM card and solve card related

queries. Instead of that I also provide all type of customer inquiries and try to solve their

problems.

All of these tasks need equal responsibility and sincerity. But some times it creates pressure

for me to do the tasks simultaneously. But I was too lucky that I got the help and guidance of

my seniors. They also help me when I was wrong and if there is any problems. In the next

page the responsibilities of my jobs are given in detail:

BPM (Bills Paying Machine) & ATM (Automated taller machine) Executive:

The first one and a half month of my internee period, I worked as a BPM (Bills Paying

Machine) & ATM (Automated taller machine) executive. We are accustomed with the service

of ATM and how it works. But BPM is one of the newly introduced technologies in BRAC

Bank. The full form of BPM is Bill paying machine. Basically it is a machine for deposit

money up to taka 20,000 or less than that. The main purpose of the machine is to avoid the rush

of cash counter. The main advantage of BPM is, a customer can deposit money 24 hour even in


the holy days. As the machine was newly introduced in the branch, I was assigned to execute

the system and help the customers who want to deposit their money.

The system of deposit money in BPM is very simple. First of all an envelop must be filled up

by providing the information of the account number, the account holders name, the contact

number and the signature of the depositor. And on the left hand side, the amount that is

deposited must be written (In amount). After filling the envelop appropriately, the envelop

must be put in to the machine by operating it. My main job was to give instructions and show

the way to deposit the money through bills paying machine. I also help to customers who face

problem while using ATM.

Customer account opening:

After worked as an ATM & BPM Executive, I was assigned to work with account opening

department. In a whole day I have to open more than 10 accounts. Customer account opening

is a lengthy process. If the customer have the documents that s/he is needed to open that

particular account, he or she must fill an account opening form correctly. If there is any

problem found in the fulfillment of the form or the form is wrongly filled, the form will be

return on the next day. So the form must be filled correctly. If all things are right, the CSM

(Customer Service Manager) give the permission to open the account. Customer than have to

give signature in the register and provide all the necessary information. They have to fill up a

KYC (Know Your Customer) form to have more idea about the customer. The main purpose of

this form is to give all the necessary information regarding the account, like the charges,

benefits, and if any specific inquiry the customer has.

I also open FDR account, DPS account, different type of account like- Ezee account, saving

account, campus account, business account, partnership account. The detail of these account

are given in chapter- 2.

So from the opening a new account, I had to do all the necessary things. To complete this job I

had to be careful because some problem can be arise while opening any account.


After the customer service hour, the forms currier to the head office (Gulshan- 1) to the

respective department. So my job began here from opening an account and end after currier

them to the head office.

The process of opening an account is given in the flow chart bellow:

Western Union Money Transfer:

For more than 150 years, Western Union has been connecting people.

Today’s Western Union:

Is a global leader in money transfer services.

Is an industry leader with approximately $4 billion in revenue.


Client come and show interest to open an account

Fill KYC (Know Your Customer) form, check the clients has necessary documents & information to open an account

If has then give him the application form to fill up

If hasn’t, serve the app. Form & inform the necessary documents to bring next day

Check the application form carefully and whether it include necessary documents

Get the signature of the client on the register

Deliver the welcome pack and the ATM card

Helps consumers and businesses send money and bill payments quickly and reliably

Provides consumers with financial choices, convenience and control.

Offers services through Agent locations around the world.

The working process of Western Union Money Transfer is given in the flow chart bellow:

ATM card’s pin delivery:

All type of customer account has an ATM card. When a customer opens an account, he gets an

ATM card and also a pin number. But the pin number should be given to that particular

customer only. Neither of his relatives can get the pin number. If the customer gives the

authorities to any person to take the pin numbers, the bank will not allow him do so. Because


Customers fill up the form completely

Check and justify the necessary documents and

attachment of documents with the form

Input the MTCN number and cross check the information given in the system and the form

If any mismatch with the information, forms return to the

customer to fill it properly.

If the information matches, the form should be fulfilled in the

system

After filling the form in the system, 2 print out should be taken and signature of the customer.

After taking the authorized signature of BM & CSM, customer received money from the cash counter

the number is very much sensitive. By knowing the pin number any one can withdraw the

money from ATM. So at the time of delivering the pin number, I had to justify the person

whether he is the original account holder or not. It can be justified by the signature verified seal

given by the customer service officer. It can also be verified by matching the customer’s

signature in the system. But incase the signature is not up dated in the system, the customer can

be verified by asking some personal questions, like- date of birth, mother’s name, contact

number, mailing address and so on.

After the verification of the customer the pin number is given and after three working days

from the account opening date, the card can be activated by calling in the phone banking. The

number of phone banking is- 01819230000 and 01819260000.

I also solved and gave information of all type of card related problems and queries. For

example: if the ATM card is lost, or stolen, if the card breaks, if any one want to reissue a new

pin number or forget his pin number, if any one wants to cancel his ATM card, or want to have

a supplementary card, or want to have other type of debit card, like- ALOCO CARD, ARONG

CARD, BUSINESS CARD, DIAGOLD CARD- I took all the necessary steps to solve their

problems. There was a form which must be filled up by the customer and the signature must be

verified then. After the service hour, the forms were currier to the head office addressing to the

respective department.

The process of delivering the pin no is given in the flow chart bellow:


A person comes to the branch/ opens an A/c and request for ATM card

Provide information of all types of customers query:

I also provided information to all type of customer queries. Each day many people come to the

branch with various types of problems. I tried my best to give them the proper information and

try to solve their problem. Some of the information that I provided are given bellow:


The client opens an a/c and wants welcome pack

Client wants his name “Embossed” in the card

Request the client to fill up the ATM Service form

Send green form to ATM help desk, keep white form for branch reference, give yellow form to client

Card delivers to the mailing address after 7 working days

Client comes to branch & request for the pin number

Ask the client’s account name & account number

Verify the client by signature and by other information

Get the “ATM Terms & condition paper” signed by client

Deliver pin number & get clients signature on the register

# Account opening requirements, DPS related information, FDR information, some type of

loan facilities, different type of debit card related queries and their benefits.

# Give instructions for address change, signature change, mandate instruction, nominee

change, account closing information, DPS closing information, FDR closing formalities, pay

order, document issue and all type of queries.

# I also gave information of Western union money transfer. I used to give information,

like- from which country the money can be sent and in which banks money can be received. I

usually tell about the formalities or requirements to be maintained to receive the money.

# BRAC Bank has recently launch BRAC Bank credit card in the market. I used to

provide information about the card, the requirements that must be maintained to be a card

holder, the facilities to be a BRAC Bank credit card holder and other card related queries.

Verification of signatures of different issues:

Verification of signatures is very important for banking transaction. Because one of the

important proves to be an account holder is the signature. It was also a risky issue. I used to

verified signature for different issues, like-

# For ATM card delivery,

# For balance inquiry,

# For stop payment instruction,

# For address change, nominee change, mandate instruction, signature change,

# For cheque book delivery,

# For DPS account opening,

# For DPS certificate delivery.

3.3 Critical observation:During my internship period in BRAC Bank Ltd, Banani branch, I worked mainly with retail

banking products of BRAC Bank. It was more like general banking. As I got the opportunity to

work with more or less all the CSO’s (Customer Service Officer), I observed some errors in


different stages. Previously I have mentioned my specific job responsibilities during my

internee period. During performing my job, I found that there was lack of good management of

the superiors. For those unavailable circumstances offend arise.

While performing my jobs, I found some errors frequently happened. The errors are follows:

- BRAC Bank, Banani branch is one of the busiest branches of BRAC Bank after

Gulshan branch. So the branch needs to be well managed. This branch must start token system

to avoid the rush of the customer.

- Most of the time there were problem with the ATM and BPM machine. In ATM,

it sometimes remained out of order, some time out of cash, and some times customer face the

problem of cash and card capture.

- As BRAC Bank follow centralized banking system, it creates a lot of problems for the

customer. The branch could not always give the solutions to the problems of the customers.

Because they need to contact with the head office for several problems. It makes delay to the

service and customers some times get angry.

- Too small branch to handle with a huge number of customers.

Some mismanagement has been identified while dealing with retail product. These are:

- CSOs dealing with retail products have to perform dual duties- service to customers

and another customer interrupt between their conversations. As a result, they frequently

mistake in the customer service. So that makes difference to the service quality.

- Sometimes it seemed to me that, officers’ deals with retail products don’t have

sufficient knowledge. So their clients are doing business with little or even no knowledge about

the product s/he has been engaged with.

- Some officials dealing with retail products haven’t been as professional as a private

bank does require.

- Sometimes it seemed to me that charges and other fees are very high compared to

other private banks. It frequently creates customer dissatisfaction.


- Bank should arrange more BPM booths in every branch or if possible beside the ATM

booths. There are only five branches where the BPM service is available. So it make problem

to the customers who wants to deposit their money.

- One of the major problem in Banani branch is it don’t have separate space for

Western Union Money Transfer. The activities of account opening and Western Union were

done in the same desk. Which I feel created too much pressure to the CSO, because he has to

do all by himself. So it raised a lot of problems for both the account opening and Western

Union.

- Some times the CSM were so busy that it creates delay to the customer service. And

at the end of the day the closing were also delayed.

- Absence of an upgraded web site.

- Shortage of retail product brushers.

- Lack of setting arrangements for the waiting customers,

- Each of the CSO has the pressure of fulfilling the target. It is a monthly basis

requirement that must fulfill by the CSO to get promotion or to get award. It is good and gives

motivation to the officers. But most of the time it creates hampers to the responsibility of the

officers, so the quality of the service.

3.4 Recommendation


BRAC Bank Ltd introduces a new dimension of business among the local bank in the financial

market of Bangladesh in Retail Product Management. The bank is doing business with more

than fifteen retain products. But in the complex business environment and diversified business

world these products cannot meet the customer needs. Today, customer classes are vibrant and

it is difficult to keep the customers without an appropriately designed and also is not properly

market driven. Developing a market driven product management system is essential for any

company if the company would like to win the competitive condition and would like to survive

in futuristic competitive market setting. In this regard, following specific recommendations are

forwarded for the development of product management of BRAC Bank Ltd.

Officials whom are involved in Customer Service should be trained properly.

Because some time they can not give proper suggestions to the customer queries.

Though they try to give at their best.

Their jobs should be mentioned more frequently,

They should be made some what freer from doing business,

There will be a separate Retail Credit Department,

Link between CSOs and CSM should be more easier,

Charges and fees may be reduced for more customer satisfaction. Recently the

charges of BBL product and customer service have increased without informing to

the customers. So that creates a lot of customer dissatisfaction. According to the

customers, the charges should be lesser so that every type of customer can bear it,

Number of ATM booths can be increased,

ATM should take good care. Because it has been seen that most of the time they

remain out of order or out of cash,

Each branch should have BPM,

BPM (bills paying machine) should take care regularly. Because most of the time

they remain out of order,

Relationship between Bank and customers should be created and increased,

Products should be more customer friendly,


Through the customers of BRAC Bank Ltd are satisfied to some extent, they are

showing their grievances for procedural difficulty and long waiting time to receive

the service. In this regard, it is the situational demand to increase the number of

skill manpower as well as the skill of the existing manpower in Banani branch,

There should be a code of conduct for the BBL officials, which should be followed,

The web site of the BBL should be upgraded regularly,

The branch should take more spaces to continue its service perfectly. Banani branch

is too small but it has a huge number of customers. So by considering the fact

branch need more space.

The branch should have a good setting arrangement for the customers who wait for

the service. Some time the customers have to wait for the service but for the lack of

sufficient sofa they have to stand.

Banani Branch should have token system.

Last but not the list, the employees must be motivated when they do some thing

good and creative. It helps not only to satisfy the officers but also improve the

quality of work.

Conclusion:


BRAC Bank intends to set standards as the market leader in Bangladesh. It demonstrates that a

locally owned institution can provide efficient, friendly and modern banking service on a

profitable basis. It products earning and payment dividends that can support the activities of

BRAC, the Bank’s major shareholder. Development and poverty alleviation on a countrywide

basis needs mass production, mass consumption and mass financing. BRAC Bank goal is to

provide mass financing to enable mass production and mass consumption and thereby

contribute to the development of Bangladesh.

This report has been prepared completion of a three months internship program in BRAC Bank

Ltd (BBL), Banani Branch. In the study, it is found that through there are more than 15 retail

products of BBL, all of them are not widely acceptable to the customers. The study shows that

the company is consciously trying to maintain the customer satisfaction. But in a market driven

economy, customers’ delightment is essential. The company is trying to learn about the market,

but the learning process is informal. On the other hand, the branch is not consciously

considering the steps of competitors and also lagging behind to develop a loyal customers

group. Developing a loyal customer group is essential for long time survival.


Reference

Banking law and practice (S.N. Maheshwari)

S.F Ahmed and Co., “Annual Report 2004- 2005, BRAC Bank Ltd.

Brochures of different products of BRAC Bank Ltd.

Printed copies provided by BBL officials

www.bracbank.com


http://www.bracbank.com/