SUBMITTED TO:

Sir Usman Ghani

SUBMITTED BY:
MUHAMMAD USAMA NAWAZ KHAN
SYED ALI UL HASNAIN KAZMI
MOIZ SHEIKH

AITZAZ KHAN
HAIDER ALI

BBA (Hons)
ARID AGRICULTURE UNIVERSITY, RAWALPINDI
 ACKNOWLEDGEMENT

All praise to ALMIGHTY ALLAH alone, the Omnipresent and the most Merciful and
compassionate. The words are bound, knowledge is limited and time is short to express His
dignity. It is one of infinite blessings of ALLAH that he bestowed me with the potential and
ability to contribute towards the deep oceans of knowledge already existing. Who is forever
torch bearer and spring of guidance in every sphere of life. I offer thanks to the HOLY
PROPHET (PBUH) WHO is the beacon of enlightenment and the greatest benefactor the
mankind ever had. Who brought for us revelation and unlimited knowledge and civilized the
barbarian human being.
I am deeply indebted and also express my gratitude to my respected teachers at ARID
AGRICULTURE UNIVERSITY, RAWALPINDI for their support. I would like to present a token
of thanks for the staff member’s of Summits Bank. They were cooperative to me in the
completion of this report and provide me their complete guidance. As banks are very much
sensitive about their secrecy, even then after taking an understanding, but they proved so
helpful in all operations. My special thanks to Branch Manager ,Operations Manager
,Head Teller& Customer Services Officer of Sari Alamgir branch .

Once again Thanks to all

TABLE OF CONTENTS
Dedication…………………………………………………………………..…....01

Acknowledgment………………………………………………………….…….02

Table of contents ………………………………………………………….……03

History………............…………………………… …………………….……..04

Vision & Mission………………………………………….……………….…….04

Organizational structure ………………. ...……………………………….....05

Products & …………..…………………………………………………….…….06

Account opening Department ………………………...……………….……...06

Cash Department……………......………………………………………....…...07

Clearing Department…………...………………………………………...……..08

Remittance Department…………………......………………………………….09

Recommendations……………………......……………………………………..10

History of Summit Bank Ltd

Summit Bank is one of the fastest growing commercial banks of Pakistan, which, in a very
short span of time, has expanded its network across the country and built an infrastructure
based on state of the art “Risk Management Framework” as well as “IT platform,It
commenced its operations in August 2006.
The Pakistan operations of Rupali Bank Limited were acquired by Arif Habib Securities
Limited under the Scheme of Amalgamation approved by the State Bank of Pakistan. The
name of Rupali Bank Ltd was subsequently changed to Arif Habib Rupali Bank Ltd and then
finally to Arif Habib Bank Ltd in October 2007. On 31 st March 2010, Suroor Investments Ltd, a
company incorporated in Mauritius, acquired 59.41% stake in Arif Habib Bank Ltd from Arif
Habib Securities Ltd, and on 18 th August 2010, Arif Habib Bank Ltd was re branded as
SummitBankLtd.
Suroor Investments Ltd, also entered into share purchase agreements (SPAs) with majority
shareholders of My Bank Ltd and Atlas Bank Ltd, who after completion of the transactions
have merged in Summit Bank Ltd expanding the Bank’s geographical outreach with a network
of almost 190 Real – Time Online branches across the country. In line with the management’s
vision of making this bank a front runner amongst its peer banks, this merger has brought
synergies and access to a wider range of markets and customers
 Vision
To be the preferred provider of financial products and services to the market.
Mission

• To be a financial institution based on Trust, Integrity, and Good Governance.

• To deliver financial solutions to our customers.
• To provide equal opportunities & professional working environment to our employees.
• To serve the community at large.
• To discharge corporate social responsibility.
 Management Team

Mohammad Zahir Esmail President & CEO

Irfan Saleem Awan Chief Financial Officer
Ahsan Raza Durrani Group Head Operations and Service Quality
Gulrays Khan Group Head Internal Audit and Inspections
Faisal Shaikha Group Head Treasury & Financial Institutions
Imran Ahmed Group Head Islamic Banking
Kamran Ashraf Group Head Retail & Branch Banking
Ali Pesnani Group Head Corporate & Investment Banking
Aziz Morris Group Head Risk Management
Muhammad Faisal Asghar Group Head Credit
Habib-ur-Rehman Group Head Special Asset Management & Fraud Management
Syed Muhammad Atif Head Compliance & Control
Syed Shafaat Husain Head Human Resource
Nazia Butt Head Legal
Farrukh Ayaz Head SME & Commercial and Consumer Banking
Faisal Murad Head Secured & Gold Loans and Bancassurance
Syed Usman Asim Head Credit Administration
Muhammad Najeeb Khan Resident Sharaih Board Member
Syed Muhammad Talib Raza Company Secretary

Products and Services”

• Current Account
• Saving Account
• Summit Classic Current Account
• Daily Product account
• Islamic Saving Account
• Hamara Family Saving Account
• Young Bee Account ( For Minor )
• Senior Citizen Account
• Daily Stock Account
• Summit Asaan Account
“Account Opening Department”
The procedure of opening the account is as given under:
First of all, the customer fills the account opening form (AOF). Filling of
account opening form includes account number,title of account, type of account, nature of
account, currency of account, status of account ,name, mother name, DOB, CNIC, Cell no,
Address, Next of Kin, and address, signature of customer and signature of introduce. He also
signs an undertaking that he will follow the rules and regulations of the bank. The signature
and account number of the account holder introducing the account to the new person is
obtained on the account opening form.
Kyc (Know your customer) form is filled to get some information about your customer.
The signature of the client is obtained on a specimen signature card (S.S Card). The card is
obtained with two signatures from the customer. Every time a cheque is received for payment
from the client, the signature on the cheque is verified by comparing it with S.S Card.

CDD is required to fully identify the customer. To get full information about the customer bank
makes due diligence check list of the customer. Every account holder fills this form. The
basic purpose of this form is to get some basic information about the customer’s business and
source of incomes. The client deposit cash in the account.
For this purpose cash pay-in-slip is used. The minimum initial deposit is fixed for each
account according to the nature of account. For example for Current account the minimum
requirement is Rs.100 only.
Summit bank issues Cheque books from 25 leaves to 100 leaves. When
he used this book completely then he can apply for another known as subsequent Cheque
Book. This process takes 03 working days because the Cheque books come from the
Karachi head office.

Before issuance of a Cheque book the bank stamp every leaf with the account number of the
customer, enter it in the cheque book register and computer and issues the cheque book to
the customer after his signature on the register. A
letter of thanks is prepared. One letter is for the customer and one for the introducer. One
copy is send to the customer and the other copy is kept in the record along with other
documents.
“Cash Department”

Head Teller proved so helpful to me in this department

CashDeposits:
Cash receiving officer receives cash along with pay-in slip from the customer. He checks if the deposit
slip is properly filled up containing title of account, account number, date and amount in word and
figures. He also verifies signature. Detail on both counter file and cash receipt voucher should be the
same. Cash is received by the cash receiving officer, twice counted and matched with the deposit slip.
The cash details are written on the back of the deposit slip and are also entered in cash receiving
register. Cash received stamp is affixed on the face of the deposit slip along with the signature of the
cash receiving officer.

Again proper scrutiny is made by the officer cash department. Deposit slip is credited and posted in
the concerned account in the system.

Payment of Cheques
The process for payment of cheques for local and foreign currency is same. First the customer
presents the Cheque or holder to branch and the particulars of cheques are properly filled in.
Signature of the holder is taken on the back of the cheques. Cheque handed over to the officer cash
department for scrutiny where officer checks the date, amount in words and amount in figures, payee’s
name, crossing if any, account number, cheque serial number, any material alterations, endorsements
and signature of the customer. Account is debited and then the officer cancels cheque. It is posted in
the system and posting stamp and number is affixed on it. Cheque is handed over to the cash
payment officer for payment. One more signature on the back of the cheque is taken from the holder
to match with the first one, and then cash is paid to the payee. Cash paid stamp is affixed on the face
of the cheque. If the payment is of Rs. 50000
the cashier can make it on its own. If the amount is greater than Rs. 50000 the cashier and an
authorized officer will verify the check and will sing it. Then the payment will be made. Otherwise the
payment will not be made.

“Clearing Department”

The clearing process majority involves receiving the cheques and making payments. This process can
be inward or outward.

Clearing Process (Inward/Outward)

Here the local Cheques are received that are drawn on Summit Bank. All the cheques are received on
one counter along with the paying slips duly filled in properly containing particulars of cheques and
account holder. These Cheques are scrutinized and cheques for local clearing are separated from
OBC.
Clearing officer checks and verifies title of all the cheques deposited by the customers to confirm the
title of the cheques. Cheques are scrutinized properly and paying slips are separated from
cheques.crossing, endorsement and clearing stamps are affixed on the cheque. All the cheques are
then entered into the clearing system of the bank. Print out of the clearing is taken and details are
attached with the cheques of each bank. Details of these banks are then entered into the clearing
schedule containing number of cheques presented and their total amount against the name of each
bank. Next morning, these cheques are delivered to the respective
banks through NIFT in clearing house of State Bank of Pakistan between 9:00 to 9:30AM. In the same
manner, other banks present their clearing drawn on Summit Bank. Total number of cheques and their
amount delivered to other banks and received from them are written on the Clearing House schedule
branch for their payment. After proper scrutiny of cheques, verification of signatures and confirmation
of balance in the account, the Officer Cash Department pays these cheques by canceling and posting
them in the system. If any
cheque is not passed due to insufficient balance or any other reason, Officer clearing Department
returns the same cheque by attaching a cheque return memo containing reason for return. This
cheque is entered into the cheque returned register and bank charges Rs 200 are deducted
according to the schedule. Second clearing is called at 2:30PM to check the fate of the
cheques presented to other banks in the morning. If any cheque is to return, that is delivered to the
same bank in second clearing. In the same manner, if any cheque presented by Summit Bank in first
clearing is returned, they receive it and once again give schedule of clearing figure to the Officer
Clearing House SBP containing number of cheques and their amount delivered and received unpaid.
Outwards
Bills for Collection
cheques are collected, scrutinized and cheques for local clearing are separated from OBCs. Special
crossing and bank endorsement stamps are affixed on the cheque.OBC schedule is attached with the
cheque and dispatched to the main branch of that city for collection. If they do not have any branch in
that city, then cheque will be sent to the Collecting Agent of Summit Bank for that city, and if they do
not have any collecting agent even, then cheque can be sent directly to the drawing branch.
Instructions are given on the OBC schedule for the payment of that cheque. When OBC is realized,
collection bank pays the amount through pay order if it is the same bank or through DD if it is another
bank. If DD is received against OBC, it is presented in the clearing for collection.

“Remittances Department”
The need of remittances is commonly felt in today’s business. The main function of remittance
department in a bank is the transfer of funds. In remittances, following banking instruments
are used:
• Pay order
• Demand draft
• Online transfer
• Call deposit receipts
• Traveler cheque
Pay Order
A pay order is a written order issued by a bank,
drawn upon & payable by itself, to pay a specified sum of money to or to the order of a
specified person. Pay orders are made to transfer money within the city and this is a safe way
to transfer money as the person who makes the transfer through pay order pays in advance.
The procedure that is carried out in transferring money through pay order is as follow.
Procedure for Pay Order
Remittance form is given to the customer to fill. Two signatures are taken on
the form one for request and other for receiving the instrument. All the particulars of
application form are checked and bank commission charges and withholding tax is written on
the top of the application form. If the customer is maintaining his account with the branch, he
can give cheque for total amount of instrument plus bank charges. Cheque and application
from is then given to the officer Cash Department for the payment of cheque. After proper
scrutiny, Officer Cash Department posts the cheque and signs the application form in token of
payment received. If the customer wants to pay cash, then cash is deposited by the customer
along with the bank charges and withholding tax. Application form is then given to the
Remittances. In charge for issuance of instrument. He enters all the particulars of the
application form in the system and computer gives an Auto Control Number to the
instrument. Printout is taken on the block of payment Order. Two authorized officers of the
branch then sign it. Instrument is then protecting graphed, and given to the customer. When
instrument is presented for payment, it is posted in the system and canceled by the In charge
after proper scrutiny. The officer checks all the details in the application, makes out the
charges for the transfer that the customer will pay and then make the pay order for the
customer.
Demand Draft
A Demand Draft (DD) is an instrument, which is drawn
by one bank upon another bank for a specific sum of money payable on demand. It is made
by the bank, given to the purchaser against cash or cheque.
Procedure for Issuing DD
Issuance procedure of Demand Draft is same as of pay Order.
When DD advice is received, signatures of both signatory on the DD are verified. All the
particulars of the DD payable are entered in the system. Prints out of vouchers (DD payable)
are taken. When instrument is presented for payment, signatures of the attorneys are verified
on DD and after proper scrutiny; it is posted in the system and cancelled by the Remittances
In charge.
Online Transfer
Sometimes, when the remittance is urgently required by the
remitter, online Transfer is made.
Call Deposit Receipt

Call Deposit Receipt is a form of non-profit bearing guarantee certificate issued to

Government & Semi-Government Institutions, Corporations and Semi-Autonomous Bodies as
a security deposit in favor of any tender. The beneficiary can at any time deposit the CDR in
their account. Summit Bank facilitates all customers to avail this service without having an
account with the bank.
"Recommendations”
I also conducted ratio analysis ,vertical and trend analysis. I also Observed Some strengths,
weaknesses and opportunities and threats to summit Bank.

• Credit Card service for Bank customer to be initiated.

• The Network should be increase like other fast growing banks for competition purpose
and meet the modern banking strategy.

• Stipend for Internee should introduce for motivation purpose for bank Job.

"Loan Department"

• Auto-financing

• Personal loan

• Gold loan

• Loan on fixed deposit

• Home finance
1. Home Finance
Buying your first home is a major milestone in your life and one of the biggest financial
decisions you will ever make. Helpful information combined with the right advice can make a
world of difference and Home Debt Consolidation (Balance Transfer Facility)assist you in
making the ultimate decision.
Summit Bank has a comprehensive range of home loan schemes with solutions for everyone.
The value and flexibility that Summit Bank Home Finance offers, complemented by
exceptionally personalized service, is what makes it the right choice for you. At Summit Bank,
we believe in simplicity & convenience.
Summit Bank Home Finance can be sought to fulfill any of the following needs:

• Buy-a-Home

• Build-a-Home

• Home Renovation

• Purchase of Land & Construction

Requirements:
• Salaried: Age Limit 23 – 60 years

• Self Employed Professional: Age Limit 23 – 65 years

• Self Employed Businessman: Age Limit 23 – 65 years

• Additional documentation
Range:
300,000 to 10,000,000
2. Personal loans
We live in a world of uncertainties where we never know when we’ll need to meet unforeseen
expenses, but being a Summit Bank Customer we have no worry. Whether these expenses
are for daughter’s wedding, outstanding payments, major surgical operation or just about
anything else.

With Summit Banks personal finance loan solutions, we now have the peace of mind to meet
these expenses “RIGHT ON TIME, WHEN WE NEED THEM”. With simple yet transparent
terms, our expenses are now covered, with an innovative, convenient and secure personal
finance solution from Summit Bank.

Requirements:

• Pakistani Resident & CNIC holder

 • Age between 21yrs to 65yrs

• Minimum net Income PKR 15,000/-

• Salaried individual only

Range:
25,000 to 1,000,000
3. Auto-finance
We can get our desire car on easy installments and requirement and drive a dream a car with
the help of Summit Bank. It can provide us easy intallments plans as well as low interest rate
and early settlement facility. Summit Bank also financed used cars too.
Range:
300,000 to 6,000,000
4. Gold Loan
Summit Gold Loan is a secured running finance /personal loan facility designed to cater to the
emergency funding needs of individuals.
Requirements:

• Account will be opened in accordance with documentary requirements laid down in the
SOP of “Account opening and management”

• Must be a resident Pakistani

• No minimum income required

• 2 passport size photograph of applicant

• 1 passport size photograph of Nominee

• 2 References

• Quality of Gold Not less than 18 Karat

Range:
50,000 to 2,000,000
5. Loan on fixed deposit
Loan on fixed deposit is the most easy way to get a loan with minimum interest rate.Summit
Bank introduce this loan for their customers which want to increase their bank statement for
their personal use. In this type of loan we can get 90% of loan against the amount which we
will fixed in bank account.
“Thanks”