Performance Evaluation of a Private Bank Free Essays

[pic] An Assignment On Performance Evaluation of a Private Bank IFIC Bank as a private bank in the private segment of Bangladesh. Arranged For: Narzia Florin Lecturer, Dept. of Business Administration Prepared By: Saleh Ahmed BBA †02406160 24th GI Dept. We will compose a custom article test on Execution Evaluation of a Private Bank or on the other hand any comparable point just for you Request Now of Business Administration Stamford University Bangladesh. Accommodation Date: fifteenth May 2006 Letter of Transmittal Dated: May 15, 2006 Narzia Florin Lecturer, Dept. of Business Administration Subject: Submission of report on execution assessment of a private business bank. Dear Madam, It has been an extraordinary delight to present the report on execution assessment of a private business bank. You know that I gathered data on a private business bank. I pick IFIC Bank for the report reason. I am lucky enough that I got each one of those data essential for the task reason. I accept that this task has given me an extraordinary encounter to me and it has improved both my insight and experience. I attempted my best to demonstrate my aptitudes while setting up this report. I sincerely look for your thoughtful counsel or proposal with respect to my error which will help me in my pragmatic and hypothetical works in the days to come. Earnestly yours, Saleh Ahmed BBA †02406160 24th GI Table of Contents ? Official Summary. ? Profile of IFIC Bank. ? BANK’S MISSION: Quest for Excellence. ? The bank in a sketch. ? Proprietorship Structure. ? Budgetary Position. ? Item Services. ? HR Development. ? Paces of Deposit Schemes. ? End. Official Summary: In this report on the Performance Evaluation of a private bank as IFIC bank, I gather the important data from its site, list, bossier and by and by data assortment. I found that these privately owned businesses are serious and need to catch the tremendous market of Bangladesh at any expense. So they give different sorts of item and administrations. I additionally found that the organizations counterattack their rivals by their offers. A few gives high or low loan fee, new offices etc†¦ Every organization has their own technique to catch the market. In my report I attempted to incorporate the vast majority of IFIC bank’s item, administrations and offices. In spite of the fact that I have a few confinements I attempted my best to show the Performance Evaluation of IFIC bank as a private bank. BANK’S MISSION: Quest for Excellence Our Mission is to offer support to our customers with the assistance of a gifted and devoted workforce whose imaginative abilities, inventive activities and serious edge make our position remarkable in giving quality support all things considered and people that we care for. We are focused on the government assistance and monetary success of the individuals and the network, for we drive from them our motivation and drive for ahead advancement to flourishing. We need to be the pioneer among banks in Bangladesh and make our permanent imprint as a functioning accomplice in provincial banking working past the national limit. In a seriously serious and complex budgetary and business condition, we especially center around development and gainfulness of all concerned. THE BANK IN A SKETCH: International Finance Investment and Commerce (IFIC) Bank Limited began banking procedure on June 24, 1983. Preceding that it was set up in 1976 as a joint endeavor fund organization at the occasion of the Government of the People’s Republic of Bangladesh. Government at that point held 49 percent shares while the backers and overall population held the rest. The destinations of the fund organization were to set up joint endeavor Banks Finance Companies and members abroad and to do typical elements of an account organization at home. At the point when the Government chose to open up banking in the private segment in 1983, the above account organization was changed over into an undeniable business Bank. Alongside this, the Government likewise permitted four other business Banks in the private area. In this manner, the Government denationalized two Banks, which were then completely Government-claimed. While in every one of these Banks Government held ostensible 5 percent shares, a special case was put forth in the defense of this Bank. It held 40 percent portions of the Bank. The choice by the Government to hold 40 percent partakes in IFIC Bank was in compatibility of the first targets, in particular, advancement of joint support of Government and private patrons to set up joint endeavor Banks, money related organizations, branches and associates abroad. Proprietorship Structure BOARD OF DIRECTORS: Board of Directors of the Bank is a remarkable blend of both private and Government part experience. At present it comprises of Ten Directors. Of them five speak to the backers and overall population and four senior authorities in the position and status of joint secretary/Additional Secretary speak to the Government. Overseeing Director is the ex-officio Director of the Board. |Elected Directors | |Representing ‘A’ Class Shareholders | |01 |Mr. Manzurul Islam |Chairman | |02 |Mr. Saiful Islam |Director | |03 |Mr. Abul Matin Khan |Director | |04 |Mr. Abdul Hamid Chowdhury |Director | |05 |Mr. A. R. Malik |Director | |â | |Nominated Directors | |Representing ‘B’ Class Shareholders | |(Government of Bangladesh) | |06 |Mr. Mohammad Janibul Huq |Director | |07 |Mr. ATM Ataur Rahman |Director | |08 |Dr. Chowdhury Saleh Ahmed |Director | |09 |Mr. Md. Mokhles ur Rahman |Director | |â | |10 |Mr. Mashiur Rahman |Managing Director | Financial Position CAPITAL RESERVES: The bank began with an approved capital of Tk. 100. 00 million of every 1983. Settled up capital was then Tk. 71. 50 million in particular. In the course of the last Twenty One years, the approved settled up capital has expanded significantly. Approved capital was Tk. 500. 00 million and the settled up capital remained at Tk. 406. 39 million as on December 31, 2004. The Bank has developed a solid save base throughout the years. In last twenty one years its stores and surplus have expanded altogether. This reliable strategy of working up saves has empowered the bank to keep up a superior capital sufficiency proportion when contrasted with others. With the dynamic help and direction from the Government, the bank has been demonstrating a consistent and improved exhibition. In its twenty One years of tasks, the bank has earned the status of a main bank regarding both business and altruism. Beginning with an unassuming store of just Tk. 863. 40 million out of 1983 the bank has shut its business with Tk. 20, 774. 49 million of store as on December 31, 2004. The yearly development rate has generally been higher contrasted with both financial segment development and individual development rates accomplished by others. As against a benefit of Tk. 21. 94 million of every 1984, the bank earned a record benefit of Tk. 700. 25 million for the year finished on December 31, 2004. Item SERVICES Presently 5 (five) items/administrations have just been propelled in the market: A. Annuity Saving Scheme (PSS) B. Month to month Income Scheme (MIS) C. Tele Banking/Tele Link D. Demise Risk Benefit Scheme (DRBS) E. Purchaser Credit Scheme (CCS) A. Benefits Saving Scheme (PSS): 1. Name of the Scheme: Pension Saving Scheme . Conveyance Points: 62 Branches 3. Feature of the item: Duration of the Account: 5 (five) Years 10 (ten) Years Monthly Installments: Tk. 500 or Tk. 1000 or Tk. 2000 Payment after Maturity: | |PAYMENT AFTER MATURITY | |5 YEARS |10 YEARS | |INSTALLMENT |WITHOUT BONUS |BONUS |WITH BONUS |WITHOUT BONUS |BONUS |WITH BONUS | |Tk. 00 |36265/ - |1500/ - |37765/ - |93050/ - |3000/ - |96050/ - | |Tk. 1000 |72530/ - |3000/ - |75530/ - |186100/ - |6000/ - |192100/ - | |Tk. 2000 |145060/ - |6000/ - |151060/ - |372200/ - |12000/ - |384200/ - | Eligibility for PSS Account: An individual of 18 years old or more having a sound brain will be qualified to open a record in his/her own name. Reward Payment: On the off chance that the record holder, from initiation to development of term, pays all the regularly scheduled payments in time (I. e. inside tenth day of every month) and never defaults in paying regularly scheduled payments, the record holder will get additional reward installment proportional to 3 (three) times of regularly scheduled payment for a long time term and 6 (Six) times of regularly scheduled payment for a long time term. Personal Tax Rebate: Under this Scheme, annual assessment discount will be accessible on the aggregate sum payable I. e. after development of stored sum; such sum will likewise be annual tax exempt. Regularly scheduled payments to PSS will likewise fit the bill for appearing as speculations (like fortunate store) in yearly Income Tax Return. Installment of Pension: One can get the whole saved sum with enthusiasm at once or get an annuity on month to month premise at an attractive measure of regularly scheduled payments. B . Month to month Income Scheme (MIS): 1. Name of the Scheme: Monthly Income Scheme. 2. Conveyance Points: 62 Branches. 3. Feature of the item: 4. Span of the Account: 5 Years (Deposited chief sum will be returned on development). 6. Sum to be Deposited: Tk. 50000/ - and it’s various. 7. Installment after Maturity:Tk. 450/ - and it’s different. Techniques for paying month to month pay: The installment of month to month salary will begin from the ensuing month after an away from hole of 1 (one) month from the date of store. On the off chance that a record is opened on seventh of any month, month to month salary will be paid on seventh of the resulting month. The record holder will get month to month pay in any SB/CD record of same name kept up with the branch. In the event that, the record holder doesn't have any SB/CD account with the Branch, he/she/they should open a SB/CD represent accepting the month to month salary. The base equalization necessity will be deferred for these kinds of records for another client. Be that as it may, a base introductory store of Tk. 500/ - should be kept. This method will dispense with the issue of coming to