Professional Documents
Culture Documents
( al-Fatiha; verse:1-4 )
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PREFACE
Two months internship is an important part of BBA Honrs. (Marketing), this
enables the student to work in the practical environment. It is also important in
other way as it carries three credit hours and 100 marks towards the final result.
I underwent my training at NBP Bank Street Branch, Bahawal Nagar (0709). I am
thankful to my branch manager Abdul Sattar Sahab and branch staff to cooperate
with me a lot during my internship period. During my two months internship
period they give me every opportunity to learn and to get best out of me. I am
highly thankful to all of them for all the favor they give me.
AFIFA MUSHTAQ.
B.B.A Honrs. (Marketing)
Roll. No. BBD-09-24
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ACKNOWLEDGEMANT
All praise for Almighty ALLAH whos uniqueness, oneness and wholeness,
who gave me enough courage, knowledge and ability to accomplish the report and
enabled me to complete this report in a very limited time. All respect is for the
PROF. RAJWANA
And honorable TEACHERS
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Table Of Content
Executive Summary.......................................................................................................8
Role of Commercial Bank............................................................................................11
Types of Banks.............................................................................................................13
Central Bank.............................................................................................................13
Commercial Banks...................................................................................................13
Exchange Banks.......................................................................................................13
Saving Banks............................................................................................................13
Agricultural Banks...................................................................................................14
Industrial Banks.......................................................................................................14
History of National BANK of Pakistan.......................................................................15
Official setup................................................................................................................17
Management Hierarchy................................................................................................18
General information about NBP...................................................................................19
Main branch structure...................................................................................................20
Total staff of NBP.........................................................................................................21
Vision Statement..........................................................................................................22
Mission Statement........................................................................................................22
NBP Definition of Customer........................................................................................23
Deposits Department....................................................................................................23
Current / Demand Account.......................................................................................24
PLS Account.............................................................................................................24
PLS Term Deposit Account......................................................................................25
PLS Term Deposit (MIS) Account...........................................................................25
National Income Daily Account (NIDA).................................................................25
Closing of account:..................................................................................................27
Cheque..........................................................................................................................28
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Executive Summary
National bank of Pakistan since its establishment in 1949 is working as a
commercial bank and also providing specialized services to the government and
State Bank of Pakistan. The bank was nationalized with other major banks in early
seventies and since then being a government owned organization it has not been
able to give a remarkable performance. Further, the privatization of other banks has
also created a stiff environment in the banking industry.
National Bank of Pakistan, besides providing the general banking services is also
acting as an agent to State Bank of Pakistan, in areas where State Bank of Pakistan
does not has its own branches. National bank of Pakistan is working with the State
Bank of Pakistan in effective implementation of the credit policies that have been
formulated from time to time by the government and State Bank of Pakistan to
control and monitor the fiscal and monetary situation in the country.
National Bank of Pakistan currently has a wide network of branches inside the
country and in all commercial centers of the world as well. Through this huge
network of branches the Bank is providing all sorts of services that have become
part of the modern banking. New innovations and new products, which are rapidly
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adding up in the product mix of banking industry, all are successfully adopted by
Nation Bank of Pakistan.
The Bank is providing deposits facilities to more than five hundred thousand
customers in the country and which is increasing by the time. The bank has been
providing a service to the government of making salary payments to all
government employees on behalf of the government. These payments are sent to
the bank for distribution from the provincial divisions of all concerning
departments.
In the deposits area the bank is providing special accounts such as PLS Term
Deposit (Monthly Income account), which provides a monthly withdraw able
return on the account. And there is a National Income Daily account, carrying
hybrid characteristics of saving and current accounts, distributes all profits on daily
product basis to the account holders. The bank is trying to revolutionize the
services that are provided over the counter and is working for an early change in all
the branches of the bank.
In the advances side the bank has been successful in deploying its resources in the
best way in all commercial, industrial and agricultural sectors of the country. These
advances have been increasing with the increasing trade and commerce, and bank
has been able to meet the requirements up to the maximum extent.
The introduction of a new set of services in shape of foreign currency accounts has
further given a sharp rise in the banking field. This has made easy for the
foreigners residing in Pakistan to be encouraged and make the inflow of foreign
exchange in the country more stable. This new service, though shaken its
importance after undue freezing of all accounts in 1998 have spread a situation of
non-confidence among the masses, still these accounts are increasing in number.
The financing process of all international trade, which modern banking made less
complicated and more secure, have increased with the global-village concept in the
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Mobilization of resources:
The commercial banks are the most efficient organizations of the economy in the
mobilization the resources and making a profitable pool of these resources. Taking
then money from the savers and lending it to the investors is the most prominent
job of the bank.
Financing development projects:
The banks and other financial institutions advance loans for the development
projects that enhance the pace of overall development of the country. These
advances are made in both public and private sectors for the purpose of achieving a
good and strong economic field to carry on the other activities of trade and
business.
Creating climate for capital formation:
Capital formation is done by the act of accepting peoples money and putting into
profitable ventures. They money so accumulated make possible the availability of
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the needed capital by the investors. The investors on the other hand are able to get
the needed funds that shortfall their requirements.
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Types of Banks
The banks can be classified into different types based on the modes and purposes
activities they perform. The main kinds of banks are:
C
ENTRAL BANK:
A bank that is given the responsibility to monitor and control the financial activities and
to maintain the steady flow of money within the country. The main objective of this bank
is to assist the government in the planning and implementation of fiscal and monetary
policies in a country. The bank does not involve in any type customer services rather it is
at the top of all the other banks that are operating in the country.
C
OMMERCIAL BANKS:
The most widely spread banks in any country with an objective to mobilize
the saving of the people and providing finance to the investors. These banks
are in the ground for profit earning motive and are in competition with each
other. These banks are providing the basic services to the customers in the
form of deposits, advances, remittances and other.
E
XCHANGE BANKS:
These banks mainly deal with the international trade and commerce. These
banks take the responsibility of settlement of foreign exchange and arrange
the foreign business. The purpose is to provide services to the importers and
exporters in the conduct of cross the border trade.
S
AVING BANKS:
Saving banks are those banks that collect and kept the small saving of the
people. Their objective is to promote thrift among the people and to use their
idle money in a better way by making it available to the investors through
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these banks. To induce people to have deposits with the bank, some
incentive is also provided.
A
GRICULTURAL BANKS:
These banks are set up to provide financial assistance to the agricultural
sector. The agricultural banks provide short and long-term credit to farmers
for different type of farming activities. Short term loans are to fulfill the
need of working capital for the procurement of seeds, fertilizers, or
pesticides. Whereas log-term loans are for capital expenditure that involve
huge funds such as purchase of agri. machinery and equipment. The
Agricultural Development Bank of Pakistan was set up for the development
of the agri-sector in 1981, by providing the financial aid to the farmers.
I
NDUSTRIAL BANKS:
Industrial sector requires huge funds for the establishment and smooth
running of all industries and firms. These banks are given responsibility to
extend a helping hand to the industrialists. In 1961 Industrial Development
of Pakistan was established with this motive. The other institutions engaged
in this type of financing are PICIC, NDFE, and ICP.
National Bank of Pakistan can be called a consolidated bank that is providing
functions of all the banks discussed above. It is helping SBP for the planning and
implementation of policies. Also working as an agent of SBP where SBP does not
has its own branches. Has been providing the services of commercial banks,
assisting in the across the border trade by providing services of settlement of
obligation between the international traders. And last but not least is helping the
economic sectors as well by providing loans to the industrialists and growers.
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As a result of the exchange rate controversy, regular trade and payments between
the two countries came to standstill. India froze the surplus earned by Pakistan
from a favorable balance of trade, and one more financial dispute, which is still
alive, was added to the unsettled list. One of the immediate consequences of this
situation was the withdrawal of Marwari Merchants of the Indian finance, which
used to be employed annually for the movement of Pakistans jute crop. A crisis of
the first magnitude threatened because the jute crop was already in the markets
and, as there was no money to move so prices began to fall precipitously. At that
time, there was no jute industry in Pakistan, not a single just loom or a spindle and
no possibility, therefore, of utilizing any of the crops with in the country. As jute
prices collapsed, foreign merchants and foreign banks stood aside to watch the
process and the seriousness of the situation threatened to promote agrarian unrest.
It was now very evident that the government of Pakistan could not afford to
continue that the special mission to Delhi had failed, Government of Pakistan
moved quickly. Two ordinances were passed immediately, one setting up the Jute
board and other National Bank of Pakistan. National Bank of Pakistan was
established to provide finance to suitable parties.
Thus it came about that National Bank of Pakistan stood behind the jute trade and
State Bank of Pakistan behind the National Bank, and government stood behind the
State Bank. It was all organized so rapidly (six branches came into being at once)
that any doubt that might have lurked in the minds of outsiders about Pakistans
ability to tackle the situation was dispelled once and for all.
Until June 1950, the Bank was engaged exclusively on jute operation. Thereafter, it
was felt that it could expand its business to include other commodities as well.
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Official setup
Head office
Management
Credit Processing
SpecialDivision
Assets Management
Inspection
Division
Audit
Treasury
Division
Management Division
Support Division
Regional Headquarter
Management
Credit Processing
SpecialDivision
Assets Management
Inspection
Division
Audit
Treasury
Division
Management Division
Support division
Management
Credit Processing
SpecialDivision
Assets Management
Inspection
Division
Audit
Treasury
Division
Management Division
Support division
Branch
Management
Credit Processing
SpecialDivision
Assets Management
Inspection
Division
Audit
Treasury
Division
Management Division
Support division
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Management Hierarchy
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OG I Rem.
OGII Admn.
OG I
Advances
OG II
Agnecy Services
OG III
OG III
Assistant Godawn Keeper
Assistant
OG II
Head Cashier
OG I
Forex
OG III
Assistant
OG II
Clearing
Head Messenger
Messenger
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Number
1
4
7
19
21
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Vision Statement
To be recognized as a leader and a brand synonymous with trust,
highest standards of service quality, international best practices and
social responsibility.
Mission Statement
NBP will aspire to the values that make NBP truly the Nations Bank
by:
Creating a distinctive brand identity by giving the highest
principles of services
Institutionalizing a merit and performance culture
Adopting the best international management practices
Discharging our responsibility as a good corporate citizen of
Pakistan and in countries where we operate.
Maximizing stake holders value
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Deposits Department
National Bank of Pakistan offers the following types of accounts to its customers.
Current/Demand Account
PLS1 Account
PLS Term Deposit Account
PLS Term Deposit (MIS) Account
National Income Daily Account
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PLS ACCOUNT:
This type of account is the most significant and most widely opened in any bank.
This type of account is entitled to share the profit and losses with the bank based
on the rates that are declared every six months. The amount of profit is credited to
the account after six months. The profit is calculated on the minimum average
monthly balance in the account. National Bank of Pakistan Main Branch currently
has more than twelve thousand accounts under this head. The minimum balance
required by the bank to make an account eligible to share the profits is Rs.5000
monthly. The balances below this amount shall not be entitled to receive any profit
at all and the bank may deduct incidental and service charges on the account.
Profit calculation
o = Amount * days * rate / 365 _ W.H.Tax (10%) of total profit.
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Closing Of Account
There are many reasons for closing of account. It is not a good omen for the
business of the Bank. The Bank cant bound any one to close the account. The
main reason may become cause of closing of an account is as follows:
Account holder himself wants to close the account.
The account holder has died or become insane.
Balance in the account has become nil.
Closing of account due to bad demeanor of the account holder.
Account becomes bank corrupt.
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Cheque
A cheque is an unconditional order in writing drawn on a specified banker
signed by the drawer, requiring the banker to pay on demand a certain sum
of money to, or to the order of, a specified person or to the bearer, and which
does not order any act to be done in addition to the payment of money.
According to the Negotiable Instrument Act 1881, cheque is a bill of exchange
drawn on a specified banker and not expressed to be payable otherwise than on
demand.
In Pakistan, banks deal with two types of cheques.
Open cheque-they are payable in cash at counters.
Crossed cheque- they are not payable in cash at counter.
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After this, the token is given to the presenter and cheque is handed over to the
accountant/authorized officer for further processing.
PROCESSING OF CHEQUE:
The accountant/authorized officer examines the cheque for the above mention
things. When cheque is found acceptable in all aspect, the signature of the drawer
compared with his signature on the Specimen Signature Card. When it is found
similar to specimen signature, he affixes SIGNATURE VERIFIED stamp, near the
drawer signature in the cheque and sign it. Then he checks the balance in the
account, if the account has the sufficient balance, the cheque is posted. The cheque
is than handed over to the cashier.
The cashier calls the presenter and takes his token and compares the token number
with the number written at the back of the cheque. He takes out the cash to be
handed over to the presenter and writes its denomination at the back of the cheque.
Thereafter, he gets signature of the presenter at the back of the cheque and hands
over cash to him and affixes CASH PAID stamp on cheque.
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Remittances Department
The need for remittance is indispensable in case of the modern exchange of goods
and services. Banks in this regard provide the facility of transfer of money from
one place to another. This transfer of money is a source of profit for Bank.
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If the applicant want to sent DD by post, then bank charge RS.30 as POSTAGE
CHARGES.
The applicant shall send this DD to the beneficiary by means of any common
carrier on which that person will become eligible to get the payment from his bank.
The charges are subject to change from time to time based on the decisions made
by the banks management.
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Clearing Department
The process of getting payment of cheque, Demand Draft, Pay order, Telegraphic
Transfer, Mail Transfer or Dividend Warrants, deposited by the customer of the
branch from other banks and other branch of same bank within the city through
clearing house is called Clearing of Cheque.
State Bank of Pakistan in that city acts as clearing house.
OUTWARD CLEARING:
The customer of the branch deposits cheque or other instrument for collection
attached with pay in slip. The officer accepts it after looking into the following:
The person depositing the instrument for collection is the customer of the
branch
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At the end of the banking hours, all cheques are gathered and separated form pay
in slips. Cheques are scrutinized to see that all the required stamps are affixed over
it and no wrong stamp had been affixed. Then the grand total is done of all cheques
received for outward clearing. Similarly the total of the amount mentioned in pay
in slips is done. The total amount, both of cheques and slips, should be same.
All the cheques/instruments received for clearing are packed in the bundle of 50
cheques each. If number of cheques in a bundle exceeds 50, penalty is charged by
SBP. Bundles are then packed in a bag and the bag is sealed. Later in the evening,
the employee of the SBP comes to collect the bag.
The pay in slip is treated as a party credit voucher and next day the depositors
account is credited with amount mentioned in pay in slip but they are not allowed
to withdraw that amount from the account. If the cheque sent for collection, is
received back after one day, party debit voucher is prepared/passed and the
customers account is debited by that amount. Same is also entered into the
Clearing Received sheet.
Besides debiting the account with the amount, cheque returned charges are also
deducted from the customers account.
The information about returned cheques is written down in Cheque Returned
Register and when the customer comes cheque is handed over to him and his
signature is taken on the Cheque Returned Register.
INWARD CLEARING:
Every morning before the start of the banking hours the SBP representative
delivers the cheques/instruments drawn on the branch by their customer and
deposited with other banks for collection of payment of those instruments.
When these are received by the branch, the in charge-officer immediately start
processing those because within few couple of hours, SBPs defective due to any
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reason. The information about these cheques is entered into Clearing Voucher
sheet. The cheques/instruments are scrutinized and endorsement examined, if those
are found in order further processing is done.
The signature of the drawer, on cheque, is tallied with his specimen signature and
then post into the computer and drawers account is debited by amount mention in
the cheque.
Cheque/instruments that are not in order due to any reason or if drawer does not
have enough funds in the account, then those cheques are returned with memo
(S-15) attached with them. In the memo, reasoning for returning the
cheque/instrument is mentioned and is signed by the authorized officer. After
couple of our SBPs representative comes and takes away those cheques.
A debit voucher of total amount, which is returned in clearing, is prepared, passed
and entered into the sheet.
In the morning along with the inward clearing, two vouchers are also sent by SBP
on behalf of Head Office.
1. One is a credit or debit voucher about clearing. In the clearing sent by the
branch is larger than clearing received by the branch, then it is a credit voucher,
which is in favor of the branch.
If the amount of inward clearing is larger than outward clearing, then HO sends
debit voucher.
2. Second voucher pertains to the clearing returns. If the total amount of returns by
the branch is higher than the amount of return against the branch than credit
voucher is sent
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COLLECTION OF CHEQUE
OUTWARD COLLECTION:
The process of getting payment of Cheque, Demand Draft, Pay order deposited by
the customer of the branch from other banks and other branch of same bank from
other cities is called collection of outstation cheques. When the customer, along
with pay in slip, deposits the cheque, it is properly scrutinized and branchs special
crossing stamp and CHEQUE FOR COLLECTION (CC) stamp is affixed on the
cheque and pay in slip. At the back of the cheque PAYEE ACCOUNT WILL BE
CREDITED ON REALIZATION stamp is affixed. A portion of the pay in slip is
returned to the deposited after getting it sign by the authorized officer.
Then at the end of the banking hours, the outstation cheques are taken out and
sorted out center wise. There after entries about the cheque is made in the Cheque
Collection Register in serial order. The serial number, along with prefix of the
number of years of Bank establishment, is written down on the specific place in the
affixed CC stamp on the cheque and pay in slip.
Now, liability voucher are prepared, debiting customer liability and crediting bills
for collection, for the total amount of outstation cheque being sent.
A collection schedule (F-275) is filled and attached to the cheque. The authorized
officer signs it and copy of both documents is made.
Thereafter, it is sent to the Drawee bank along with the cheque through courier
service. The copy of the F-275 and cheque is attached with the pay in slip and
filed.
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If the cheque is drawn on the branch of NBP, then the cheque is directly sent to that
branch for collection of payment but if the cheque is drawn on another bank than
the cheque is sent to main branch of NBP in that city. The main branch than
launches the cheque in clearing. When it gets the payment, a credit advice is sent to
the originating branch.
When a credit advice is received from the drawee bank, test is checked and
signatures of the authorized officers on the advice are verified.
The information about date of payment, amount received and charges received is
written down in Short Credit Register against the respective SC number.
The pay in slip of the customer (which is treated as credit voucher) is taken out
along with the copy of F-275. And customer account is credited, when the credit
voucher is passed. Date of payment is also written down on the copy of the advice
and it is filed in separate SC received file. A reserve entry will be passed about
Customer Liability and Bills for Collection.
Bills for Collection
Debit
Customer Liability
Credit
Then commission on SC & postage charges is received from the customer account,
as per bank tariff. The entry is
Customer Account
Debit
Commission on Bills
Credit
Postage
Credit
The weekly balancing of Customer Liability and Bills for Collection is done, from
Outstation Cheque Register, to have an idea about unrealized outstation cheque.
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INWARDS COLLECTION:
The inward collection cheque is received through courier/mail. When it is received
the receipt date stamp is affixed on the Covering Schedule. It is than handed over
to the concerned officer who examines the cheque and Covering Schedule. It is
seen that the endorsements are correct and SC no. On cheque and schedule is the
same.
If the cheque is drawn on another bank/branch in the city it is lodged in clearing
and if it is drawn on the same branch then it is lodged in Transfer.
When payment is received, a credit advice is prepared in the favor of the
originating bank. Test is applied on the advice, when the amount is above
Rs.5000/-. The credit advice is then signed by the two authorized Officers with
their IBS. The advice is later dispatched to the originating branch through courier
or mail. For this service, branch deducts no charges.
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Authorized Dealer is a person or an institution, which can deal with the foreign
exchange. The authority is given by SBP to all those scheduled Banks who have
adequate trained staff and facilities. These scheduled banks are given license to
deal in foreign currency transactions.
The license is of two types.
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Old Account
US Dollars
@1.25%
@2.35%
Pound Sterling
@1.175%
@1.878%
The Bank maintains separate ledgers for every type of currency account. The most
significant accounts with the Bank, in number and frequency of transactions, are
US Dollar and Pound Sterling. That is the reason these accounts are made eligible
to share the profits.
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FOREIGN REMITTANCES
Remittance is transfer of funds from one place to the other by way of using an
intermediate dealer. These dealers are authorized agents who provide these services
on commission. Foreign remittances are the most significant type of transaction
that is carried on in case of a foreign currency accounts. The remittance can
primarily of two types.
1) Inward Remittances:
Funds coming into the country on account
2) Outward Remittances:
Funds going out of the country on account
INWARD REMITTANCES:
The inward remittances are coming through either Telegraphic Transfer (T.T) or in
form of Demand Draft (D.D). Further these remittances are coming in either in
foreign currency or are in Pak Rupees. The remittances coming into NBP Main
Branch, Bahawal Nagar can be classified into the following types.
Case 1:
Remittances where the beneficiary or the payee is an account holder in the Main
Branch.
Case 2:
Remittances where the beneficiary or the payee is an account holder of any NBP
branch other than Main branch Bahawal Nagar.
Case 3:
Remittances where the beneficiary or the payee is an account holder in a Bank
other than NBP,
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All the above mentioned types of remittances are handled differently and the
reimbursement of the amount is done through separate recordings in the books.
The instruments of inward remittances carry instructions for the proper
reimbursement of the amount to be credited to the account holder on realization.
The reimbursement on TTs is available as follows:
For Pak Rupee:
Reimbursement is made from Nadir House Branch
Karachi
For Foreign Currency:
Reimbursement is made from NBP Head Office
Karachi
All TTs received from foreign bank are initially put on a test to verify the
genuineness of the massage received. This test confirms the amount, the
beneficiary, the case and the sending branch of a bank. There are special codes that
are used for testing the instrument. Once the message is confirmed then its payees
status is checked.
Case 1:
If the payee is an account holder of the Main Branch then it is recorded as
following:
Dr.
OR
Dr.
currency)
Cr. Payees account
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The responding branch is sent a debit advice along with copy of the message
received.
Case 2:
The case where T.T is addressed to another branch of NBP and has to be credited
to the account of the payee this requires the Main Br. personnel, after the
conformity of the message, make a Mail Transfer (M.T) to that very branch. NBP
Main Br. provide the service of T.T for its other branches, which do not have the
facility of Telex or Fax.
Case 3:
T.T that is addressing a branch other than of NBP, then the payment mode selected
is T.T Payment Order, which is sort of an instrument that is sent to the
responding branch ordering it to pay the beneficiary the sum mentioned on it. The
same is presented for reimbursement through the clearing process from the
clearing-house.
OUTWARD REMITTANCES:
Sending amount outside the country is an outward remittance. Again this
remittance can be made by T.T or demand draft. The condition for these
remittances requires the sender to be the account holder of the Branch. That
account holder has to submit a written cheque along with the payees particulars
and responding bank. This procedure has charges that are higher in case of T.T and
comparatively lesser for demand draft. These charges can be deposited in cash or
can be debited from the account of the sender as the case may be.
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S.W.I.F.T
The increasing pace of technology has made the communication processes more
easy, faster, and reliable. In case of transfer of funds the introduction of S.W.I.F.T.,
an acronym for Society for Worldwide Inter-bank Financial Transactions, has
made remittances faster and secure. The system works like Internet communication
processes. All the banks in the world are registered for the service, which have the
facility of online computers. The headquarter of S.W.I.F.T. is in Belgium. The
message sent through this way do not require any code tests to confirm its
authenticity. NBP Main Br. Multan has this service that has special access rights
with only one officer who is responsible to check the lists of the sent transfer
messages. The sending process is more secure where two officers make the
transmission of the message, one types the content with his code word and the
other executes it with his password.
There are different types of codes that are used for the messages interchanged on
the basis of the type of the transaction. For example:
19909for the message that is simply send for T.T
18808for message that relates with the L.C. functionality
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Debit.
DDP Account
Credit.
Payees Account
For collection of the international DDs, NBP has maintained agency relations with
following Banks:
American Express for Americas, Europe and Asia
Bank Al-Jazeera for Saudi Arabia
National Exchange Corp. for Emirates
These collections can be in form either Pak Rupees or in foreign currency. For
collection from abroad the cheque/draft is sent to American Express Karachi. On
realization of the amounts the Bank receives a credit advice from the agent bank
and the Bank makes a new entry.
Debit.
Debit.
currency)
Credit.
DDP Account
This collection process requires some charges that have to be born by the
customer who deposits the cheque/draft for collection.
credited to NBP account and debit that banks account from where these
drafts are issued.
IMPORT SECTION:
Import is the basic function of the foreign exchange department and NBP
earn money from imports. In order to import the goods abroad the party has
to open a letter of credit in favor of beneficiary (seller of goods).
LETTER OF CREDIT:
As a credit instrument and as a mean of making security of the payment, the
documentary credit is essential these days for conducting safe and sound
foreign trade. A documentary credit represents a commitment of a Banks to
value honor cheques and other means of obligation against his customer to
the amount of value of goods traded, on the presentation of the documents
evidencing the bonafide conduct.
One mode of payment is Letter of Credit (LC). It is a conditional
undertaking by the Bank to make payment to the exporter if he fulfills the
terms of credit by presenting the required documents to the bank in his
country. In fact LC is a legal document on behalf on which the payment
made by the importers bank to the exporters bank.
National Bank of Pakistan is providing this service to its customers who
have an account with the branch and other businessmen too. This facility has
been recognized as a modern banking activity of all commercial banks that
are included in the list of 6000 Banks internationally.
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INFORMATION IN LC DOCUMENT:
The name of the local company, which is importing the goods
The name of foreign company, which is exporting the goods
The details of the goods to be transacted including the amount, quality, mode
of packing etc.
The total amount of the LC
The number of days for which the LC is valid
The name of the banks, who are regulating all these dealings
The name of the carrier which will be used for the shipment of the goods to
the importer
The bill of shipment number
TYPES OF LCS:
Irrevocable LC:
An irrevocable LC is one that is a definite undertaking by the issuing Bank
that it cannot be cancelled or amended without the consent of all the parties
54 | P a g e
to the credit. This means that all the provisions for the payment, acceptance
or negotiation contained in the credit shall be fulfilled if the documents and
drafts/cheques are presented that comply with the terms and conditions of
the credit. This type of LC is the most commonly used LC for the
international trade purposes. The exporter feels himself safe and assured that
his payment will be met in time without delay.
Revocable LC:
This type of credit is one that can be cancelled at any time by the issuing
bank giving any reason to the negotiating bank, meaning that the importers
bank shall not honor any cheques/drafts presented for payment. This type of
LC is not so commonly used by the importers as most of the time there are
instructions by the exporters to open and irrevocable LCs in their favor.
Revolving LC:
This type of LC is opened in case the importer is indulging in import of
many goods frequently and to avoid himself of opening a new LC for every
transaction, he opens a revolving LC. The main function of a revolving LC
is that it is not binding to one transaction, rather it is made useful for
different amount that are to paid to the exporters. The maximum amount is
55 | P a g e
said on the LC and the bank accepts the responsibility to honor all
cheques/drafts with in this limit.
EXPORT REGULATIONS
National Bank of Pakistan is an authorized dealer with respect to dealing in the
foreign currency affairs that are related with the export, import and foreign
currency accounts. The LC can be opened and negotiated through only from the list
of 6000 banks internationally. For export L.C. negotiations the bank has to follow
prescribed rules and regulations levied by SBP. For negotiation the Bank has to
give in writing that it shall bear the responsibility to honor all bill and cheques on
behalf of the importer that shall be presented for the payment by the foreign
exporter.
56 | P a g e
For this purpose the Banks has to make sure that it has acquired the duly required
documents from the exporter that include the following:
E Form (which describes the detail of the goods to be exported, the importers
particulars, the amount of foreign currency payment and the details of the
importer as well .
Original Invoices of the transaction for sale.
Bills of Exchange drawn on the importer by the exporter
Bills of Lading from the shipping company along with the details
Insurance documents
Along with these documents the Bank certifies that:
Exporter is known to the Bank and is a bonafide businessman and customer in
Pakistan. He has made arrangements with realization of the export proceeds,
which must be made within 120 days from the date of the shipment of the
goods;
The Bank shall receive export proceeds against shipment on firm contract
within the prescribed period by the State Bank. Failure to make the receipts, the
Bank shall inform the State Bank the circumstances and reasons shall comply
with it;
In case of non-realization of export proceed within the prescribed period Bank
obtain from the exporter the circumstances and the reasons.
Banks certifies those firms for which:
Arrangements have been made for realizations of export proceeds
Bonafide of importer/consignee abroad and credentials have been checked and
verified
Arrangements have been made for the receipt of export proceeds
57 | P a g e
Bank shall check for the compliance of all documents related with the exports and
shall compare the bills or documents with relative to export form and satisfy that
they conform in all respect to declarations on the relative export form and related
to the amount of bill and invoices.
IMPORT REGULATIONS
For the control of foreign exchange SBP and GOP discourage import of the goods
to the most important ones. Still most of our daily needs are being fulfilled by
imported products. The import procedure is also complicated that involves many
dimensions to be looked for. The Banks role in this regard is again indispensable
for the importer and the exporter.
LC opening charges:
When an LC is opened, the bank collects certain charges from importer these are:
59 | P a g e
Commission
Postage charges
PAYMENT TO BANK:
The requirement by the Banks is that the consignor must submit 30% of the total
L/C value on opening of the L/C and 70% is made after receiving the original
documents. The importer also pays any commission or mark-up changes. The
charges are all possible to change without any prior notice at the discretion of the
bank.
NATURE OF PAYMENT:
The nature of payment can be of three types:
Sight:where the payment is made on the presentation of the documents
Usance: where payment is made after 30, 60, or 120 days of presentation of the
documents
At Collection: here high commission is charge and payment is made after 150 &
180 days.
The issue authority (in this case the bank) has to be confirmed about the bonafide
of the customer the same way as in case of export LC negotiations.
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the issuing bank bank once again checks and confirms the genuineness and sends
the amount to the negotiating bank through remittance instrument.
TRAVEL QUOTAS:
Travel quotas are issued to the foreign travelers who are going abroad for visit, or
for Umrah and Haj. These expatriates require some amount of foreign
currency that they must carry along with them for the expenses. These quotas are
not issued in form of foreign currency but in shape of Travelers Cheque on
which payment can be received from any bank interested in purchase.
The State Bank of Pakistan has placed some restrictions on the amount of which
TCs can be issued. And these restrictions are subject to changes from time to time
through circulars sent by the SBP. The first circular was sent in 1982 and with the
passage of time many changes have been made through other circulars. The last
circular in effect is number 23 dated June 24, 1996.
The quotas for personal travel purposes are prescribed by the SBP are as follows:
The quotas shall be issued in form of Travelers Cheque only.
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Business Quotas:
Quotas that are issued to the people going out for business purposes have to follow
different type of procedure and require submitting different types of documents.
The main features in this regard are as follows:
The traveler is allowed US $200 per day or US $6,000, whichever is less that
can be issued in form of TCs in one calendar year to one expatriate.
The need for over this amount can be negotiated and a permission can be
achieved from SBP.
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Medical Quota:
Quota that is issued for expatriates going abroad require special treatment and have
to go through special set of regulations that are set by SBP in this regard. This
requires a special permission from the SBP for going abroad. On the permission
acquired the expatriated has to submit an application to the bank for the concerned
travel. The amount of the total expenses on the medical treatment is paid based on
the invoices being presented by the medical center abroad to the issuing bank.
Education Quotas:
For students going abroad there is a special set of rules that have to be followed for
issuance of the quota. The maximum amount is based on the fee requirements of
the foreign institution and the methodology they use for the payment. These
payments may be for one semester or for two semesters, can be in advance or after
completion as the case may be.
FOREIGN CURRENCY
BEARERCERTIFICATE (FCBC)
FCBCs are the tool for the SBP to Increase foreign exchange reserve in order to
make balance of payment favorable for the countrys economy. FCBCs are floated
at the order of the President of Pakistan. When these are issued they are recorded in
the cheque book register and in the register of cheque book for collection.
Important characteristics of FCBCs
The profit on FCBCs is 14.5& annually
No tax or Zakat is deducted on these certificates
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ADVANCES DEPARTMENT
One of the primary functions of the Bank that generates the profit for the bank is
making advances. These advances are made through the deposits that are kept by
the bank of its customers. The Bank pays profit on the deposited amounts and
receives mark-up on the advances made of different amounts. National Bank of
Pakistan introduced the mark-up based advancing in Jan 1, 1985 when the
Isalamization of the economy was in influence. Under this system of advancing the
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PRINCIPLES OF LENDING:
Once a customer decides to get a loan, his interview with Banks lending officer is
necessary, because this gives the customer the opportunity to explain his credit
needs. The Bank officer can make a guess to assess the customers character.
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When a request for loan is received it has to be ascertained that the borrower has
the legal capacity to borrow. The Banker must inquire the purpose of the advance,
its duration, source of repayment, and against the security to be offered by the
customer. Based on these information bank prepares a credit report.
The purpose of compilation of credit report of the borrower is to assess their net
worth. It must contain information about borrowers means, character, integrity,
assets, liabilities, business and experience. Besides, borrowers own investment,
book debt, details of properties, with verification of encumbrance, must be
obtained. The borrower may be asked to give written clarification of their existing
liabilities.
In the case of Limited Companies, their borrowing powers to be verified from their
Memorandum & Articles of Association. Their certification of incorporation to be
examined, exiting borrowings, prior charge on their fixed assets, paid-up capital,
reserves, profit and loss position, detailed particulars of their directors and
complete analysis of balance sheet must be incorporated in the credit report.
Independent inquiries about the borrowers and opinions from their previous
bankers must be made. As such a comprehensive credit report is compiled which
serves as a constant guide to the banker about his borrower. The following points
are considered with importance by the banker.
SAFETY:
Character, capacity, capital and collateral are the three basic credit factors of the
borrower to discharge his obligation in accordance with the term of the loan
agreement. Integrity is considered of vital importance. Careful observation of
business will assist in evaluating the integrity factor. Assessment of the character is
very important. A banker must have an ability to judge the character and credit
worthiness of the borrower.
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PURPOSE OF ADVANCE:
It self evident that one needs to know the purpose for which banks money is used
i.e. for increasing fixed assets, current assets or for decreasing liabilities. The
banker needs to examine each of them. It is for branch manager to compile a
complete credit proposal the purpose must be one, which is satisfactory for the
banker. The amount is likely to be sufficient for the given purpose. A banker must
ascertain the nature of borrowers business so as to assess if he is competent person
to repay the loan in this case of companies it is necessary to check that the purpose
is not outside the objective mentioned in the Memorandum of association.
PRODUCTIVITY:
As a matter of fact advances must be granted to such trade and industries, which
are capable of meeting the economic objectives of the country. Increasing gross
domestic/national product, encouraging growth of agriculture, cottage industry,
small business, local technology and talent to create more employment
opportunities. The credit report should also depict that the proposal will be
remunerative from bankers profit point of view.
SECURITY OF ADVANCES:
Bankers lend against repayment ability of the borrowers and not merely against
security. A proposal in which repayment is not reasonably demonstrated is not
satisfactory proposal. The security must be easy to evaluate and readily realizable.
The banker accepts securities and keeps sufficient margin to secure the advances.
Securities can be the goods, stocks and shares.
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REPAYMENT OF ADVANCES:
Source of repayment of the borrower is required to be inquired to be inquired. A
banker must see at the time of lending that the loan will be liquidated with in time
and also without restoring to a legal action against the borrowers assets. A banker
is to see that his funds are not stuck and this is why he carefully investigates the
borrowers assets. After the completion of investigation a decision can be made for
approving or declining a loan application.
REMUNERATION:
The banker must see that the advances would prove highly remunerative. He must
know that the mark up on advances is the main source of banks earning and he
must ensure that the rate of markup is carefully maintained, recoveries are made
from the borrowers along with incidental charges as well as credited to banks
account.
Types Of Advances
DEMAND FINACE:
One time disbursement of the whole amount sanctioned, as the limit for the credit
allows. This mode of financing can be achieved by any person, individual, group,
company, firm and all others. The mark-up or interest is calculated on the total
amount disbursed and requires to be paid before the on the nature of the case in
review. The 4Cs attributes may be providing evaluation criteria for the sanction
and the funds available as well.
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CASH FINANCE:
In this mode of financing the borrower is allowed to make withdrawals of funds as
he requires, but the total amount outstanding cannot exceed the limit sanctioned.
The mark-up/interest is calculated on the amount outstanding on his account. The
calculation of mark-up/interest is based on the number of days a specific amount is
withdrawn. This finance if normally borrowed by small traders or individuals for
their petty matters involving cash transactions up to rupees three hundred thousand
maximum.
RUNNING FINANCE:
To assist a large-scale business operator to carry on his day to day requirements of
liquid funds, this account is opened is made operation in his favor. Of course, all
disbursements are made under proper consideration of the securities and the 4Cs of
the borrower. Running finance is provided where the amount goes beyond rupees
three hundred thousand. The mark-up/interest is calculated the same way as in case
of cash finance. Securities against running finance are those which are easily
convertible in to cash and bank kept 25% margin with it.
AGRI. CREDIT/FINANCE:
For the development and expansion of the most participative sector of our
economic prosperity, the National Bank of Pakistan has been providing loans and
finances to the agricultural sector since its establishment. Agri credit/finance is of
two types. One is called as short term loan, finance that is provided to carry on the
operational requirements of the agri-business such as purchase of seeds, fertilizers,
pesticides, and other seasonal requirements of the farmers till the final activities to
make the product reach to the market. This credit/finance is provided to cover a
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period of less than one year. The other type is long term, which is provided for the
purchase of agri-machinery and other heavy equipment that are used for the
reclamation of the agri-land.
PACKING FINANCE:
This finance facility, also known as Export Re-financing or simply pre-shipment
finance, is for the promotion of the exports. This finance is provided to the
exporters to assist them in the export of merchandise. The State Bank of Pakistan is
the provider of this loan that is disbursed through designated banks in Pakistan.
National Bank of Pakistan is also one of the key players in providing this loan
facility. The exporter has made his product and is willing to export the , but the
shortage of funds put restrain on the way. Packing finance is provided for the
export preparation of the products. The mark-up on this finance is @ 8% perannum that is paid to the State Bank of Pakistan. This lower rate of mark-up is put
to encourage the exporters towards the trade and commerce. Packing Finance is of
short-term nature that is provided to fulfill the working capital needs of the
exporters. The exporter is supposed to repay the finance after the proceeds from the
sale have been realized. If in case the borrower fails to make the payment then a
Forced Cash Finance account is opened by the Bank. The mark-up has to be paid to
State Bank of Pakistan by the Bank when it falls due and the payment has to be
received from the borrower. When forced cash finance account has been opened,
the borrower has to pay the mark-up rate that is charged on the ordinary finances.
Packing Finance I is the usual type for re-finance purpose, but Packing Finance II
is paid base on some previously build credit positions and business scale. The
accounting ratios are in this case made as auxiliary criteria for the disbursement of
the finance.
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TRANSPORT LOAN
NBP also gives transport loans for the purchase of vehicles. The person who are
not able to pay all the amount of vehicles, the bank give him loan on markup basis.
Then he pay to bank on monthly basis. Example of such loan is Yellow Cap
Scheme. And if he fail to pay bank the bank made auction of that vehicle. Bank
also give long term loan for local manufacturing machinery (LMM).
Credit Reports
A credit report is an assessment of borrowers character and capacity from a
bankers point of view. Credit reports on borrowers called Status Reports, financial
reports, bankers opinion or confidential reports. All these terms carry more or less
the same meanings. The study of a borrower is a study of his character, capacity
and capital, and collateral often known as the 4Cs to consider his credit worthiness
and eligibility for the bank advance.
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CHARACTER:
Sometimes the word respectability or business mortality is used for character.
Respectability does not mean that the borrower should be a title-holder, or the head
of an institution. These points certainly deserve consideration but respectability is
more akin to integrity and honesty in business dealings.
CAPACITY:
Capacity means the ability to employ the funds profitably and repay the advance
according to the terms and conditions of sanction. The capacity of the borrower has
to be determined and for this purpose inquiries will be necessary to find out his
qualifications and experience in the line in which he is working.
CAPITAL:
The bank would like to know the amount of the borrowers own capital. The
capital of the borrower will show his own interest in the business he is carrying. If
he has sufficient capital of his own to invest in the business besides the advance
applied for, he will be considered a more suitable borrower than one working
entirely with borrowed money. The risk of default at will be higher if the borrower
does not have his own interest in the business.
COLLATERAL:
The collateral security may consist of stocks and marketable bonds, bills of
exchange bill of lading, warehouse receipts, trust receipts, etc. the banker while
making decision to grant credit examines fully the available collateral to secure the
repayment of advance in case of default by the borrower.
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Firms:
Total investment in Business + Properties liabilities
Companies:
Paid-up-capital + Reserves + Profits (Losses)
Structural Liquidity:
Which refers to the extent of liquidity usually available in the business, or which is
the routine requirement of the borrower based on the nature of his periodically
maturing liabilities.
Asset Management:
Asset management involves the analysis of how productively the assets of the
company are being used. Sales and profitability should be commensurate with the
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level if the assets employed in the business. The cost of acquiring the assets must
be adequately recovered through sales and the profits generated by its operations,
that are the assets turnover, should be consistent with the purpose and mode of the
business and comparable to other operations of the business that are carried on.
use. It would appear that banks could be in better position to serve the business
community and themselves, if they evolve a system by which detailed credit
reports on customers are communicated to each other.
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In case the borrower is not in a position to meet his obligations, there must be
something else to call back upon. For such an eventuality, bankers take securities
to have a resource to them to guard liquidity, that is, security is an insurance
against calamities.
The types of securities may vary from a piece of land or building to commercial
papers or ornaments. Further, security has its own importance, not only as
constituting the ultimate source of recovery in the event of failure of the borrower
or his enterprise, but as providing a measure to the borrowers own stake in the
enterprise and also placing the limitation on his future borrowings. Thus, even if a
loan proposal passes the test of purpose, a bankers appraisal is not complete
without a careful examination of its security aspect.
However, though security serves as a cushion to fall bank upon in case of need, but
its adequacy alone should not form the sole consideration for judging the
suitability of the loan. So the choice of security is not made in isolation, but
keeping into consideration the customer and security offered together.
The security is the personal representation of the borrower. It should be such that in
case of default the banker could have resource to it and convert it into cash. A
banker will apply all the canons of lending while selecting a borrower, so that at
any stage he is put to embarrassment, legal or otherwise.
Ascertainment of title
Absence of contingent liability
Yield
TYPES OF SECURITIES
Pledge of Stock:
Under this type of security the goods and title to the goods are kept by the
bank under the lock and key. Normally, finished stock or raw material is
accepted as security against pledge. Under pledge the borrower cannot sell
the items without the permission of the bank. The Bank has appointed go
down keepers and inspectors whose job is to monitor and control the stock
that is kept as pledge. The borrower can buy this stock from the bank and
then resell it to its customers.
Hypothecation:
This type of security neither gives the bank the title to the goods nor the
possession thereon. This security has its advantage that it allows the stock
that is provided as a security to be used by the borrower and the bank only
gets to know of the daily activities of the borrower. Normally this type of
security is accepted from customer of good character, capacity and capital of
the borrower.
Mortgage:
Immovable properties such as land, buildings are mostly accepted as
security and considered under mortgage. The property kept under this mode
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Lien:
Lien is right of one person to retain the goods or securities belonging to
another person until a debt or obligation is not cleared by the later. This type
of security is accepted in case of advances against gold, bonds, shares,
insurance policies, fixed deposit receipts etc. Normally, these advances are
for short-term.
ADVANCES PROCEDURAL
MECHANISM
The payment of advance moves through series of steps that involve lots of
documentation and authentication. The financing process starts from the borrower
who comes with a request for credit. Then starts a whole bunch of activities. The
main are listed below:
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The frequency of use of the funds lastly sanctioned, have they reached to the
last point
Type of securities been offered by the borrower
Bankers point of view about the borrower
All the mangers and officers have powers to sanction loans in two ways:
assurance.
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On the total figure arrived mark-up is calculated based on the rate of markup per thousand per day. This markup is the total profit of the bank on the
resale transaction.
If there is a credit balance outstanding on the expiry date, mark-up at the
prescribed rate is calculated on the purchase price. That will be the profit of
the bank on the resale transaction. (In this case a rebate is given to the client
by using rebated rate of mark-up on the purchase price).
3. The above calculations will determine the amount payable or receivable by the
client.
Debit:
Credit:
Debit:
determined above)
Credit:
Credit:
amounts)
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No. Of Braches
2
2
2
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
2012
Nature of Account
Time Period
PLS
Special
Notice 7 to 29 days Notice
Account
30 days & over Notice
PLS savings
On monthly min balance
Three months
Six months
One year
PLS Term Deposits
Two years
Account
Three years
Four years
Five years & above
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Rates of Profits
4.00%
5.00%
4.10%
6.50%
7.50%
8.00%
8.50%
9.00%
9.20%
9.50%
30,
RATIO ANALYSIS
Ratios
2008
2009
Debt Ratio
83.88%
84.23%
Return on Asset
Return on
10.59%
10.09%
Investment
33.51%
38.66%
Return on Equity
3.46%
3.48%
Financial Analysis
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2005
320,179.
2006
274,117.
2007
2008
310,599.0 325,931.
2009
349,932.
Deposits
9
208,283.
0
235,932.
0
254,862.9 271,391.
6
294,754.
Advances
0
81,528.0
4
85,854.5
0
105,597.5 109,524.
5
122,293.
108,204.
0
109,485.0 102,969.
9
91,277.6
Investments
95,648.5
Income
24,239.3
Expenditure
21,157.8
Pr-tax Prof. & 3,081.5
5
28,195.7 34,183.9
29,455.5 33,188.2
(1,259.8) 995.7
0
34,504.8
32,369.4
2,135.4
35,291.1
34,979.6
311.5
Loss
S. H. Equity
7,841.8
No. Of Branches 1,537
No.
Of. 21,549
7,046.5
1,555
23,730
9,978.2
1,434
15,785
10,149.5
1,430
15,541
Employees
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9,203.0
1,445
18,096
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1,46,103
3,88,23,648
3,89,69,751
11,51,184
96,88,911
35,346
1,67,833
10,52,064
27,85,595
3,82,581
2946
1,52,66,510
8,02,155
83,41,200
12,43,960
30,56,086
11,205
6,76,90,867
6,76,90,867
Expenditures
Interest paid/payable on:
Foreign
currency
fixed
deposits account
Foreign currency saving bank
account
Provident fund balance
NBP general account
Others (HO, IDA)
PLS Income paid on:
PLS term deposits
Monthly income scheme
account
PLS saving bank account
National income daily account
Others
Total PLS income paid
Manpower cost and benefit:
Basic pay
House rent allowance
Conveyance allowance
Education allowance
Medical allowance paid with
10,50,000
52,00,000
38,203
7,11,05,140
1,82,814
3,84,685
3,55,652
19,84,486
37,69,361
6,61,558
71,55,742
35,24,511
13,72,991.60
4,65,687.50
82,600
salary
Other allowance paid with
2,58,700
salary
Staff benevolent fund
Group insurance
Bonus paid to clerical staff
Bonus paid to non-clerical
12,85,614.20
20,200
46,763.64
9,100
staff
Medical
(officers/executives)
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7,75,76,157
5,657
expenses
2,25,811
Medical
staff)
Medical
expenses
(clerical
1,29,316
expenses
(non-
clerical staff)
Livenes
Honorium to staff and staff
60,261
38,700
welfare
Total staff cost
44,200
84,20,152
Other expenses:
Rent paid on office premises
Taxes-rates-offices
Lighting and power offices
Telephone offices
General insurance
Legal fee and charges
Postages and stamps
Depreciation
on
office
furniture
Depreciation
65,600
on
residence
furniture
Depreciation on office electric
installation
Depreciation
4,319
1,500
3,48,446
2,26,487
17,742
66,931
18,196
200
78,200
on
electric installation
Depreciation
residence
17,000
on
equipments/machines
Depreciation on cars/vehicles
Depreciation on building
2,000
3,090
freehand land
Repairs on bank promises
Repairs
on
office
8,84,000
15,000
equipment/machine
Stationary and printing
Entertainment
outside
14,186
1,02,645
7,388
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chamber
Traveling
inland
computer
charges
Local conveyance
Books and newspapers
Motor car fuel
Motor car taxes and insurance
Motor cars repairs and
1,84,448
160
22,275
68,279
23,275
maintenance
Pay of police guards
Cartages and freight
Sundries
Cash carry
Other expenses
Total expenses
33,738
5,01,934
4,070
1,52,354
1,46,002
30,16,665
9,61,68,716
SWOT ANALYSIS
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(2,84,77,849)
Strengths
Weaknesses
Public confidence
Highest profitability
procedure
Lack of good delegation
Inadequate, poorly placed
Corporate branches
network technology
Poor MIS
Deep rooted bureaucratic
approval
Poor maintenance &
implementation
Lack of long term & short
term plans
Less share in import &
export business
Poor resource utilization
Need better service policy
Frequent changes in senior
staff
SWIFT
Internet access
(www.nbp.com.pk)
management
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Opportunities
Threats
Introduction of new
& expansion
Introduction of new
Political pressure
banking
equity financing
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Establishment of new
Secondary market
Non-banking institutions
operations
Inability to change
Leasing
Political:
Economical:
Technical:
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100 | P a g e
101 | P a g e
References
102 | P a g e
Annexes
103 | P a g e
104 | P a g e
105 | P a g e
106 | P a g e
107 | P a g e
108 | P a g e
109 | P a g e
110 | P a g e
111 | P a g e
TOTAL
112 | P a g e
Net
Amou
No nt
0.00
Commiss
ion
50.00
50.00
50.00
50.00
50.00
50.00
50.00
350.00
Posta
Amou
FED
3.00
3.00
3.00
3.00
3.00
3.00
3.00
ge
75.00
75.00
75.00
75.00
75.00
75.00
75.00
Total
128.00
128.00
128.00
128.00
128.00
128.00
128.00
21.
525.0
896.
nt
128.00
128.00
128.00
128.00
128.00
128.00
128.00
0.00
896.0
00
00
113 | P a g e