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Term Project of Banking Products &
Financial Services On:

CONSUMER
BANKING

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3
Table of Content

No. CONTENT Pg.No

1 Title Page 1
2 Group members 4
3 Dedication 5
4 Acknowledgement 6
5 Consumer Banking 7
6 History Of consumer Banking 8
7 Introduction 9
8 Consumer Banking Frame Work 13
9 Allied Bank & Consumer Banking 16
10 Credit Cards 18
11 Allied Visa Gold Credit Card 19
12 Allied Visa Platinum Credit Card 21
13 Debit Card 27
14 Commercial Banking 31
15 Commercial Banking & Allied Bank 35
16 Allied ATM Network 40
17 Other Services 45
18 Profit Rates 47
19 Internet Banking 50
20 Online Banking 51
21 Allied Bank & Corporate Banking 52
22 Investment Banking 55
23 Financial Institutions 56
24 Cash Management 57
25 Observation & Findings 59
26 Recommendations & Suggestions 60

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 DEDICATION

Dedicated to my teacher who given wisdom and

knowledge to complete this task.

5
 Acknowledgement

We are extremely thankful to all the people who helped &

supported us to prepare this project on time, it’s really great
encouragement to us to make this project with bundle of
information & without their endeavor support this couldn’t
possible.

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 CONSUMER
BANKING

HISTORY OF CONSUMER BANKING

Any bank you walk into to deposit your paycheck is a consumer bank. The term refers to
the fact that the bank has a physical location or branch, and to the fact that it serves
individual customers. Serving individuals instead of businesses can also be called retail
banking
The consumer bank is actually a relatively new phenomenon in the history of banking.
Most banks were initially built to serve businesses and countries. They weren’t examples

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of a consumer bank, since they didn’t normally provide services to individuals, unless
you were extremely wealthy and your deposits financed some aspects of the bank’s
business endeavors. It wasn’t until about the mid 1800s that banks started seeing the
value of offering accounts and safe depositing places for the average person.

For a long time, fear of the consumer bank existed for people because there was no
guarantee that if the bank collapsed you’d ever see your money again. This is no longer
the case for most consumer bank types of today. Most in the Pakistan carry insurance on
your deposits, from the State Bank of Pakistan.

INTRODUCTION

WHAT IS CONSUMER?

“Consumer is a broad label that refers to any individuals or households that use goods
and services generated within the economy. The concept of a consumer is used in
different contexts, so that the usage and significance of the term may vary.”

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CONSUMER BANKING

“Consumer banking is comprised of the financial services, such as checking and savings
accounts, mortgages, home equity lines of credit, personal loans, and credit cards, offered
by financial institutions.”

So a consumer bank is any bank that performs the following functions:

• accepts deposits,
• offers services like making private loans to individuals,
• and allows you person-to-person contact at a specific location, called a branch.

Essentially any bank you walk into to deposit your paycheck is a consumer bank. The
term refers to the fact that the bank has a physical location or branch, and to the fact that
it serves individual customers. Serving individuals instead of businesses can also be
called retail banking

The Check Clearing for the 21st Century Act (Check 21) has fostered innovation and
efficiency in the consumer payment by permitting electronic checks. State and federal
also laws prevent individuals from engaging in fraudulent or deceptive banking practices,
such as bounced checks, and protects consumers from illegal acts, such as ID theft and
phishing e-mail fraud.

CONSUMER FINANCE:

Consumer finance has to do with the lending process that occurs between the consumer
and a lender. In some instances, the lender may be a bank or financial institution. At other
times, the lender may be a business that offers in house credit in exchange for the
business of the consumer. Consumer finance can include just about any type of lending
activity that result in the extension of credit to a consumer.
Most people have received financial assistance in obtaining desirable products through
the use of consumer finance methods. In retail banking, the lender extends secured and
unsecured loans to consumers who wish to
• purchase automobiles,
• homes,
• Or engage in other activities that require substantial financing, such as remodeling
a home.

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Generally, consumer lending of this type caries some degree of competition, since the
consumer with a solid credit rating can often shop around and secure superior interest
rates and terms for the loan agreement
By understanding and accepting the terms and conditions associated with any lending
situation, the consumer is pledging that the ability to repay within terms is present, and
that the consumer has every intention of complying with each component or section of
the loan agreement. To this end, it is in the best interests of the individual consumer to
seek out the most desirable arrangements for any type of consumer finance, taking care to
avoid any situation that will place an undue amount of stress on the resources in the
possession of the consumer
Consumer financing started way back in 1990,s with the advent of credit cards issuance
to a selected group of the society by some large banks. But it could not work well
because of some very evident reasons i.e. high rate of interest, lack of credit environment
and skepticism of certain banks. Prior to that banks were not discouraged to participate in
this field and banks were not exited about consumer financing due to absence of a legal
covering to ensure the protection of assets and a lack of liquidity:
In 2002 SBP permitted all the banks to invest in consumer financing schemes because of
surplus liquidity, copious flow of remittances, declining interest rates and capital flight.
Now almost about 25 banks are providing auto finance, home loans and consumer
durable loans. Keeping in view the risk constraint, the banks are focusing more on short
term financing instead of long term investment like home loans.

According to a report, between 1st July to dec 25th 2004,

Total private sector disbursement Rs 224 billion

Consumer financing: Rs 39 billion 15.9% of total
Auto finance Rs 22.1 billion 56.6% of 39 bln
Home loans Rs 8.6 billion 22% of 39 bln
Credit cards Rs 3.5 billion 8.9% of 39 bln

The main consumer banking products offered by the bank are as follows:

ASSET PRODUCTS

 Personal finance (term finance)

 Running financing facility (smart cash)
 Consumer durables leasing
 Mortgage finance
 Auto car financing
 Business finance
 Balance transfer facility (BTF)
 Credit cards

LIABILITY PRODUCTS

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  Prepaid card
 Debit card/atm
 Traveler’s cheques
 Deposits
 Cash management services
 Internet banking services
 Electronic bill payment service
 Phone banking services
 Investment certificate
 Remittances etc

CONSUMER BANKING

Consumer financing is provided to the consumer to improve their standard of living & to
enhance their consumption, so that they could fulfill their requirements & dreams of life
is called consumer finance.
Consumer financing provides individuals the necessary financing for personal
purchases ranging from buying a car, shopping purchase to buying a house .most people
don’t normally get access of capital through equity markets so they would normally get
access to debt finance through the established financial institutions including banks,
credit union insurance companies etc .this debt is usually in the form of a credit card or
loan.
Consumer finance induces demand & consumption that are necessary for any industry to
develop & propagate to an ideal limit. it also establishes the employment on strong base
& invites fresh investment in industrial sectors especially those that are producing
consumer durables.
Why banking came into consumer financing?

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 Liquidity with the banks was the main reason .how this liquidity increased with the
banks is a long story to talk about.

• Unstable govt. of Pakistan.

• Constantly changing policies of the govt.
• Afghan crisis.
• Terrorism sectarianism &ethnicity in Pakistan.
• Experience of atomic explosion in mat 1998.
• Incident of 9/11.
• Domestic borrowing of govt.

All above-mentioned points stopped the investors to invest in different industries

& mage projects .foreigners were also hesitating in investing in Pakistan. That’s
why liquidity increased with the banks .to find the convenient way of using this
liquidity to generate profit banks found a new horizon known as consumer
finance. Perhaps consumer finance is much more profitable and salient feature of
any present bank .Now, it is quite hard to find any bank without consumer
finance.

WHAT ARE THE BENEFITS OF GETTING FINANCE?

A loan gives you the money you need to pay for something big like a house, a car,
college tuition, or major home repairs when you don’t have the cash to cover the
purchase. While small purchases can be paid for in advance with a credit card.
Most people could not afford to do these things without finance.

POSITIVE IMPACTS OF CONSUMER FINANCING ON THE

ECONOMY:

Consumer finance opened new horizons of employment, which will increase per
capita income. Unemployment rate will decrease .when people have more income
to spend; demand will increase of different products. Economy will flourish and
there will be prosperity in the country.

HOW CAN WE IMPROVE CONSUMER FIANCÉ?

• If consumer finance has to pick up as a truly helpful mechanism for

activating domestic demand, it must be ensured that it remains within the
consumer, capacity to repay the loans in time, & they feel confident about
borrowing again and again.
• While promoting consumer finance, the banks should keep in mind one
thing that in regarding of consumer finance, they should provide the
financing which is easily accessible not only to a specific band of people
but also to a common man.

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 • There should be established institutions and practices that could make
assessment of consumer’s repayment risks. Risk assessment of employed
individuals is not a crucial problem as in the case of self-employed.
Because employers could help in providing the basis of establishing the
employee repayment capacity.
• The factor that further limits extending consumer finance along a sound
line is the continuing inadequacies of our legal systems that make it really
afflicted for borrowers to collateralize their encumbered assets for the
satisfaction of lending bankers. There should be established such laws
according to which borrowers could collateralize their unencumbered
assets for getting the loans.

By establishing the critical balance between savings, investment & borrowers debt
servicing ability we can control inflation, maintaining the critical balance between
savings, investment & borrower’s repayment ability is possible, in this prices remain
stable affording business to sustain their profitability, in this condition debt servicing
burden remains affordable for both consumers and manufacturers.

CONSUMER BANKING FRAMEWORK:

Even as the dynamics and pace of global banking business shift in the throes of
Unprecedented change, retail revenues for banks continue to expand. Retail banking also
delivers a higher return on equity than other banking segments. With banks seeking to
thrive on business volumes, consumer banking has proven to be the key to acquire a vast
customer base with the potential to grow exponentially.

In this scenario, what really builds a lasting competitive advantage for banks is their
ability to continuously innovate, achieve differentiation through a wider showcase of
offerings and respond quickly to dynamic business challenges. The need for a robust
technology framework with the feature-richness to support full-fledged consumer
banking, is undeniable.

Finacle universal banking solution is fully equipped with a robust consumer banking
framework to configure and customize a slew of retail offerings. These include savings
and operative accounts, terms deposits, retail loans, mortgages, bill payment options and
Shariah-compliant products, coupled with widespread channel availability and smart
pricing options.

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Consumer Banking Framework

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 Consumer Banking

Savings & Consumer

Operative Accounts Term Deposits Bill Pay Islamic Banking
Lending

Subscription
Savings Fixed Term Fixed Rate Mudarabah
Management

Checking Recurring Variable Rate Multi Currency Murabaha

Multiple
Current Reinvestment Mortgages Musharaka
Billing modes

Overdrafts Notice Vehicle loans Istisna

Multi Currency Certificate

Home Saver
Accounts of Deposits

Master &
Top Up Loans
Placement

Top Up deposits Revolving

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 &
Consumer Banking

BANKING IN ALLIED BANK

Allied Bank Limited was the first bank to be established in Pakistan. It started out in
Lahore by the name Australasia Bank before independence in 1942; was renamed Allied
Bank of Pakistan Limited in 1974 and then Allied Bank Limited in 2005.

Today, with its existence of over 60 years, the Bank has built itself a foundation with a
strong equity, assets and deposit base. It offers universal banking services, while placing
major emphasis on consumer banking. The Bank also has the largest network of over 700
online branches in Pakistan and offers various technology-based products and services to
its diverse clientele.

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Mission and vision of Allied bank is as follows:

VISION

To become a dynamic and efficient bank providing integrated solutions and the first
choice of bank for all customers.

MISSION

• To provide value-added services to our customers

• To provide high-tech innovative solutions to meet customer requirements

• To create sustainable value through growth, efficiency and diversity for all
stakeholders

• To provide a challenging work environment, and reward dedicated team members

• To play a proactive role in contributing towards the society

Consumer banking basically includes:

1) Credit Cards
2) Home Loans
3) Personal Loans
4) Car Financing
5) Commercial & Corporate Banking

While Allied bank is offers only credit card, debit cards, commercial & corporate
banking.

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 CREDIT CARDS

CONSUMER

In line with the Bank’s aim to provide a host of products and services to its customers,
substantial ground work has been done to establish a strong consumer banking business.
Furthermore, to achieve this objective, professionals from across the industry have been
recruited into areas of product development, sales, credit policy, research, consumer
analytics, call centers and service quality departments.

The consumer portfolio, comprising the debit card, credit cards, auto loans, personal
loans and mortgages will be established phase by phase. However, we are confident that
our strengths, together with our largest network of online branches, a superior technology

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platform, a big customer base and the Consumer Personal Banking Group (CPBG), will
take the Bank’s profitability to new heights.

Welcome to the world of privileges, benefits and savings with your Allied Visa Credit
Card. In order to cater to your growing financial needs we are proud to introduce Allied
Visa Credit Card with The Lowest Service Charge ever! So now you can save money
where it counts and spend lavishly at your favorite places with greater flexibility,
convenience and most important-Affordability

With your Allied Visa Credit Card you can enjoy a variety of state-of-the-art features and
unmatched value by spending at over 49,000 merchants across Pakistan and 27 million
merchant outlets worldwide! And what more, you can also use your credit card at over 1
million ATMs internationally!

ALLIED VISA GOLD CREDIT CARD

With your Allied Visa Gold Credit Card every Pakistani can now enjoy the benefits of a
Gold Card internationally with unmatched savings greater flexibility, convenience and
security

FEATURES

1. BUY NOW, PAY LATER

With your Allied Visa Gold Credit Card, your free credit period allows you to pay for
your purchases up to 50 days after the date of purchase. So now you can buy all the
things you want - whenever you want - at your own convenience

2. FLEXIBLE REPAYMENT

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When paying your credit card bill, your Allied Visa Gold Credit Card gives you the
option to either pay the entire amount according to your statement or a minimum of 5%
of your total outstanding balance.

3. CASH ADVANCE FACILITY

As an Allied Visa Gold Credit Card member, you are entitled up to 75% of your available
credit limit in cash. Just go to your nearest ATM with the VISA or PLUS sign and avail
the facility of withdrawing cash 24 hours a day

4. ALLIED EASY INSTALLMENTS (AEI)

The Allied Easy Installments (AEI) plan provides you with the facility to pay your
outstanding card balance in equal and affordable monthly installments spread over 3, 6,
12, 18, 24, 30 or 36 months. So now you can easily afford anything from everyday
household appliances to exotic vacations abroad.

5. SUPPLEMENTARY CARDS

Want to share the benefits of your Allied Visa Gold Credit Card with others? Now you
can! Treat up to two people with supplementary credit cards and pass on the many
privileges of your Allied Visa Gold Credit Card to your chosen friends and family
members.

6. BALANCE TRANSFER FACILITY

In case you have outstanding balances on other cards, consolidate these onto your Allied
Visa Gold Credit Card with the lowest BTF rate and save more on your outstanding
payments than ever before.

7. CREDIT PROTECTION PLUS

With Credit Protection Plus, your Allied Visa Gold Credit Card provides payment cover
against:
 Death, due to accident or sickness
 Permanent and Total Disability, due to sickness or accident
 Temporary Total Disability, due to sickness or accident
 Terminal Illness

8. ZERO LOSS LIABILITY

The Allied Visa Gold Credit Card’s Zero Loss Liability feature protects you from paying
for any unauthorized transactions on your Card in the event that it is lost or stolen. Please
notify Allied Phone Banking immediately on 0800-22522 (within Pakistan) or on 9221-
5301094 (outside Pakistan) in case your Card is lost or stolen.

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 9. 24-HOUR ALLIED PHONE BANKING

For any information and queries about your Allied Visa Gold Card, call Allied Phone
Banking on 0800-22522. If you are calling from outside the country, please dial 9221-
5301094

10. FREE CIP LOUNGE ACCESS

As an Allied Visa Gold Credit Cardholder, you are eligible to avail the free lounge
facility at Quaid-e-Azam International Airport, Karachi and enjoy a variety of
complimentary features.

Relax while you watch leading television channels or select something to read from an
updated library of newspapers and periodicals. Also feel free to plug in your laptop and
mobile phone into the charging facilities provided or browse the internet or send and
receive faxes while you wait. You can also treat yourself to a wide assortment of high
quality snacks, beverages and fresh fruits.

VISA PLATINUM CREDIT CARD

With your Allied Visa Platinum Credit Card you can enjoy exceptional benefits and a
host of local and international benefits like never before!

FEATURES

1. VISA PLATINUM GOLF

Fancy a game of golf? With your Allied Visa Platinum Credit Card, you can enjoy golf at
its best with complimentary tee-offs, discounted green fees and access to some of the
world’s most celebrated golf clubs

2. PLATINUM LIFE PLATINUM

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Life is a unique platform that showcases exclusive programs and events specially
designed for Visa Platinum Credit Cardholders. With your Allied Visa Platinum Credit
Card, you are eligible to join this exclusive platform and avail many exciting services like
Platinum Club, Platinum Dining, Platinum Golf, Experiential Travel and much more.
So get ready to enjoy the luxury of Platinum Life with the Allied Visa Platinum Credit
Card.

3. VISA PLATINUM CLUB

As a member of the Visa Platinum Club, you are part of an internationally reputed
rewards program that provides an unmatched quality of services and custom.

The Visa Platinum Club rewards you with exclusive perks such as complimentary room
upgrades at five-star hotels, spa treatments, attractive retail discounts, special rates on car
rentals, professional golf coaching and much more. Furthermore, unlike other card
reward programs, being part of the Visa Platinum Club means that you can start enjoying
these privileges immediately without having to earn or accumulate reward points on your
credit cardized luxuries to all Allied Visa Platinum Credit Cardholders.

4. VISA PLATINUM DINING

Your Allied Visa Platinum Credit Card can turn any meal into a dining experience to
remember. The Visa Platinum Dining Service offers special dining privileges at over 200
restaurants throughout the Asia-Pacific region. Through this program, you can avail
special features such as priority reservations, complimentary meals at selected
restaurants, and much more

5. VISA EXPERIENTIAL TRAVEL

Your Allied Visa Platinum Credit Card now takes you further than ever before. With the
Visa Experiential Travel Program, choose the package of your choice as you travel the
world and enjoy exotic travel adventures catered especially to your taste.

6. PRIORITY PASS AIRPORT LOUNGE PROGRAM

Traveling with your Allied Visa Platinum Credit Card means that you can now avail the
optional facility of the Priority Pass Airport Lounge Program in your overall Visa
Platinum product offering
.
Today, with over 500 exclusive VIP airport lounge locations around the world, the
Priority Pass Service is the largest independent airport VIP lounge program in the world
and you can now avail this facility regardless of your airline or class of ticket. Simply
locate a lounge and present your Priority Pass membership card to gain entry, and relax in
style as you wait for your flight

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To avail this facility, please call Allied Phone banking on 0800-22522
.
7. VISA PLATINUM WEBSITES

The Visa Platinum websites have been designed to ensure that Visa Platinum Cardholders
around the Asia-Pacific region are up-to-date with the latest product offerings and
benefits. The sites also include additional features like:

 The latest information on Visa Platinum regional programs, such as the Visa
Platinum Club, Visa Platinum Dining, Visa Platinum Golf, Holidays and Visa
Platinum Experiential Travel Facilities.

 Online applications such as Concierge Online

 A directory of toll-free numbers for reaching the VPCC from all key global
destinations

8. FREE TRAVEL ACCIDENT

Next time you travel, purchase tickets on your Allied Visa Platinum Credit Card and
go on your journey with the added security of Travel Accident Insurance - Absolutely
Free! You can get an amount of up to Rs. 12,000,000 and are not only insured against
death but also against permanent total disability caused while traveling

9. FREE TRAVEL INCONVENIENCE INSURANCE

You can also avail the complimentary facility of Travel Inconvenience Insurance
throughout the world, which will enable you to get coverage for any damage caused by
flight delay, baggage loss and baggage delay.

10. CONCIERGE SERVICE

No matter whether you are at home or overseas, with your Allied Visa Platinum Credit
Card, you can now enjoy round the clock travel and entertainment support with your very
own personal Concierge Service.
Also enjoy peace of mind with 24-hour emergency services such as card replacement,
cash disbursement and medical assistance through a dedicated network of global toll-free
numbers.

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Information, reservations, referrals, etc., are all available free of cost and any additional
goods or services purchased by you will automatically be billed directly to your Allied
Visa Platinum Credit Card.
Types of Concierge Services that can be availed internationally are:

 Travel Assistance
 Car Rental & Limousine Service
 Sports & Entertainment Assistance
 Pre-Trip Assistance
 Business Services Assistance
 Flower & Gift Assistance

11. CONCIERGE ONLINE

This facility provides an alternative to the conventional telephony Concierge Service.

With a simple click of the mouse, you can easily request for trip planning assistance,
hotel reservations, flight reservations, car rentals, restaurant reservations and performance
ticket bookings - all from the comfort of your home.

12. VISA PLATINUM CUSTOMER CENTER (VPCC)

The Visa Platinum Customer Center (VPCC) is a one-stop shop to handle all your needs.
Staffed by highly trained professionals who provide a wide range of travel and
entertainment Concierge Services, emergency lost/stolen card services, telephone
translation services, etc., throughout the Asia-Pacific region, the VPCC is operational 24
hours a day, and is easily accessible by Cardholders via a comprehensive network of
international toll-free numbers.

13. THE LOWEST SERVICE CHARGE

Your Allied Visa Platinum Credit Card helps you save money where it counts. It carries
the lowest service charge in the market; lower than any other existing credit card today.
So use your Allied Visa Platinum Credit Card at your favorite places and enjoy savings
like never before.

14. BUY NOW, PAY LATER

With your Allied Visa Platinum Credit Card, your free credit period allows you to pay for
your purchases up to 50 days after the date of purchase. So now you can buy all the
things you want - whenever you want - at your own convenience!

15. FLEXIBLE REPAYMENT

24
When paying your credit card bill, your Allied Visa Platinum Credit Card gives you the
option to either pay the entire amount according to your statement or a minimum of 5%
of your total outstanding balance

16. SUPPLEMENTARY CARDS

Want to share the benefits of your Card with others? Now you can! Treat up to two
people with supplementary credit cards and pass on the many privileges of your Allied
Visa Platinum Credit Card to your chosen friends and family members.

17. BALANCE TRANSFER FACILITY

In case you have outstanding balances on other cards, consolidate these onto your Allied
Visa Platinum Credit Card with the lowest BTF rate and save more on your outstanding
payments than ever before

18. CASH ADVANCE FACILITY

As an Allied Visa Platinum Credit Card member, you are entitled up to 75% of your
available credit limit in cash. Just go to your nearest ATM with VISA or PLUS sign and
avail the facility of withdrawing cash 24-hours a day

19. ALLIED EASY INSTALLMENTS (AEI)

The Allied Easy Installments (AEI) plan provides you with the facility to pay your
outstanding card balance in equal and affordable monthly installments spread over 3, 6,
12, 18, 24, 30 or 36 months. So now you can easily afford anything from everyday
household appliances to exotic vacations abroad

20. CREDIT PROTECTION PLUS

With Credit Protection Plus, your Allied Visa Platinum Credit Card provides payment
cover against
Death, due to accident or sickness
Permanent and Total Disability, due to sickness or accident
Temporary Total Disability, due to sickness or accident

21. ZERO LOSS LIABILITY

As an Allied Visa Platinum Credit Cardholder, you are eligible to avail the free lounge
facility at Quaid-e-Azam International Airport, Karachi and enjoy a variety of
complimentary features

25
Relax while you watch leading television channels or select something to read from an
updated library of newspapers and periodicals. Also feel free to plug in your laptop and
mobile phone into the charging facilities provided or browse the internet or send and
receive faxes while you wait. You can also treat yourself to a wide assortment of high
quality snacks, beverages and fresh fruits.

26
 DEBIT CARD

ALLIED CASH DEBIT CARD

Allied bank also offers allied cash debit card along with its credit cards allied debit cards
includes:

27
1) Allied cash debit card

2) Allied shop visa debit card

FEATURE

1. GET CASH

You are always on the move, now your bank account is too. You can use your Allied
Cash/ Shop Visa Debit Card to withdraw cash directly from your bank account from over
3,500 ATMs in Pakistan - including Allied Bank's largest network of ATMs - and over 1
million ATMs worldwide

2. SHOP ANYWHERE

Use the Visa power of your Allied Cash/ Shop Visa Debit Card to shop at over 49,000
retailers in Pakistan and over 27 million retailers internationally
Dine Out

Go to all your favorite restaurants and order whatever you want without having to worry
about how much cash you have in your pocket - thanks to your Allied Cash/ Shop Visa
Debit Card.

3. ENJOY TRAVELING

Imagine traveling without carrying cash. With your Allied Cash/ Shop Visa Debit Card,
you can buy your plane tickets and do all your shopping abroad without worrying about
spending too much or running out of cash.

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 4. GET GROCERIES

Go groceries shopping with your Allied Cash/Shop Visa Debit Card and you will never
have to worry about having enough cash in your pocket when you're standing in line at
the cash counter
Have Fun

Whether you feel like taking the family to see a movie at the cinema or treating some
friends to a night of bowling, you can do it all and more with your Allied Cash /Shop
Visa Debit Card.

5. FUEL UP

Now you can fuel up your car without emptying your wallet. Pay for all your fuel
purchases with your Allied Cash/Shop Visa Debit Card.

6. STAY ALERT

Now, be more secure and keep better track of your spending. With your Allied
Cash/Shop Visa Debit Card, you can get SMS alerts when you make transactions on your
Card. You can also access the details of your transactions via internet banking at
www.abl.com.pk

ACTIVATION INSTRUCTIONS

Please follow the instructions stated below so that you are able to use your Card at any
merchant outlet or Visa ATMs.

a) Kindly sign the signature panel on the back of your Card in permanent ink as soon
as you receive it.
b) To activate your Card, please call Allied Phone Banking
c) Enter the PIN provided to you in order to use the Card at ATMs.

PROTECT YOUR CARD

• Do not bend your Card.

• Do not leave your Card near a television or any other electrical or electronic
gadget, which has a continuous magnetic field.

29
 • Do not expose your Card to direct sunlight. Please notify the Bank immediately of
any irregularities.
• Avoid scratching or damaging the magnetic strip. This strip is sensitively encoded
and requires special care.
• Do not disclose your Card Account Number or Personal Identification Number
(PIN) to anyone.
Destroy your PIN mailer once you have seen your PIN.

30
 COMMERCIAL
BANK

COMMERCIAL BANK

A commercial bank is a type of financial intermediary and a type of bank. Commercial

banking is also known as business banking. It is a bank that provides

31
 • checking accounts,
• savings accounts, and
• money market accounts and that accepts time deposits.

Commercial bank is the term used for a normal bank to distinguish it from an
investment bank. Commercial banking can also refer to a bank or a division of a bank
that mostly deals with deposits and loans from corporations or large businesses, as
opposed to normal individual members of the public (retail banking).

HISTORY OF COMMERCIAL BANKING

After the Great Depression, the U.S. Congress required that banks engage only in
banking activities, whereas investment banks were limited to capital market activities.
As the two no longer have to be under separate ownership under U.S. law, some use the
term "commercial bank" to refer to a bank or a division of a bank primarily dealing with
deposits and loans from corporations or large businesses. In some other jurisdictions, the
strict separation of investment and commercial banking never applied. Commercial
banking may also be seen as distinct from retail banking, which involves the provision
of financial services direct to consumers. Many banks offer both commercial and retail
banking services.

THE ROLE OF COMMERCIAL BANKS

Commercial banks engage in the following activities:

• processing of payments by way of telegraphic transfer, EFTPOS, internet

banking, or other means
• issuing bank drafts and bank cheques
• accepting money on term deposit
• lending money by overdraft, installment loan, or other means
• providing documentary and standby letter of credit, guarantees, performance
bonds, securities underwriting commitments and other forms of off balance sheet
exposures
• safekeeping of documents and other items in safe deposit boxes
• sale, distribution or brokerage, with or without advice, of insurance, unit
trusts and similar financial products as a “financial supermarket”
• traditionally, large commercial banks also underwrite bonds, and make markets
in currency, interest rates, and credit-related securities, but today large
commercial banks usually have an investment bank arm that is involved in the
mentioned activities.

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TYPES OF LOANS GRANTED BY COMMERCIAL BANKS

Secured loan

Mortgage loan

Unsecured loan

SECURED LOAN

A secured loan is a loan in which the borrower pledges some asset (e.g., a car or
property) as collateral (i.e., security) for the loan.

MORTGAGE LOAN

A mortgage loan is a very common type of debt instrument, used to purchase real estate.
Under this arrangement, the money is used to purchase the property. Commercial banks,
however, are given security - a lien on the title to the house - until the mortgage is paid
off in full. If the borrower defaults on the loan, the bank would have the legal right to
repossess the house and sell it, to recover sums owing to it.

In the past, commercial banks have not been greatly interested in real estate loans and
have placed only a relatively small percentage of their assets in mortgages. As their name
implies, such financial institutions secured their earning primarily from commercial and
consumer loans and left the major task of home financing to others. However, due to
changes in banking laws and policies, commercial banks are increasingly active in home
financing.

Changes in banking laws now allow commercial banks to make home mortgage loans on
a more liberal basis than ever before. In acquiring mortgages on real estate, these
institutions follow two main practices. First, some of the banks maintain active and well-
organized departments whose primary function is to compete actively for real estate
loans. In areas lacking specialized real estate financial institutions, these banks become
the source for residential and farm mortgage loans. Second, the banks acquire mortgages
by simply purchasing them from mortgage bankers or dealers.

In addition, dealer service companies, which were originally used to obtain car loans for
permanent lenders such as commercial banks, wanted to broaden their activity beyond
their local area. In recent years, however, such companies have concentrated on acquiring
mobile home loans in volume for both commercial banks and savings and loan
associations. Service companies obtain these loans from retail dealers, usually on a

33
nonrecourse basis. Almost all bank/service company agreements contain a credit
insurance policy that protects the lender if the consumer defaults.

UNSECURED LOAN

Unsecured loans are monetary loans that are not secured against the borrowers assets
(i.e., no collateral is involved). These may be available from financial institutions under
many different guises or marketing packages:

• bank overdrafts
• corporate bonds
• credit card debt
• credit facilities or lines of credit
• personal loans

34
 &
COMMERCIAL
BANKING

35
The Commercial & Retail Banking Group (CRBG) offers a variety of asset and liability-
based retail products to its customers. The Group’s main focus has been on introducing
various financing and investment products for its valuable clientele, and contributing to
the steady growth of the financial industry

• Internet Banking
• Online Banking
• Profit Rates
• ATM Network
• Unclaimed Deposits
• Deposit Account
• SME
• Agriculture
• Other Services
• Corporate Leasing

CRBG consists of 4 geographic groups and is further divided across 27 regions in

Pakistan. Each region is responsible for providing a quality service to its own customer-
base.

In recent years, the Group has been working to find alternate ways to bank for customers,
and has installed more ATMs to its already strong and largest ATM network.

During 2007, CRBG also saw a phenomenal growth of 28 percent in liabilities. The
Group launched effective campaigns and showed 13 percent growth in Current Accounts
& Saving Accounts (CASA). Besides an addition of senior level resources to the team,
more Management Trainee Officers were also hired into the Group to bring in more
quality and skill.

CRBG is consistent in lifting the Bank’s brand image by emphasizing on good customer
services and developing commercial assets and a cost effective deposit base.

DEPOSIT ACCOUNT

Allied Bank offers the deposit Account facility to its customers with the many attractive
features. Following are the types of deposit accounts offered by Allied bank :

• PLS Account
• Current Account

36
 • Allied Basic Banking Account
• Foreign Currency Deposit
• Monthly Profit Plus
• Rewarding Term Deposit
• Behtar Munafa Account
• Behtar Munafa Term Deposit
• Allied Munafa Account
• Allied Bachat Scheme
• Allied e-Savers Accounts
• Allied Business Account

SME

The Commercial and Retail Banking Group (CRBG) caters to the needs of commercial
entities and small and medium enterprises. A dedicated team of Relationship Managers
first identifies the specific needs of each customer segment, then designs and delivers a
facility package, which is in conjunction with those needs, and provides customers the
full support and opportunity to take advantage of the various business prospects available
in the market.

AGRICULTURE FINANCE

The Bank, under the Agricultural Financing Scheme, as decided by the State Bank Of
Pakistan, extends short, medium and long term, farm and non-farm credits. The farm
credits are extended for production (inputs) and development purposes. Non-farm credits
are allowed for livestock (goats, sheep, cattle), poultry and factories including social
forestry and fisheries (inland and marine, excluding deep sea fishing).

37
Details are as follows:

FARM LOANS

PRODUCTION LOANS

1.Inputs like seeds, fertilizers, pesticides, weedicides, herbicides, labour charges, water
charges, vegetables, floriculture, etc.

2. Working capital finance to meet various farming expenses.

DEVELOPMENT LOANS

• Improvement of agricultural land, orchards, etc.

• Construction of Godowns
• Tractors, Machinery & other equipments
• Tube wells
• Farm Transportation, etc
NON-FARM LOANS

• Livestock
• Poultry
• Fisheries
• Forestry

38
AGRICULTURE REVOLVING CREDIT SCHEME

• Loan Tenure: 3 Years (Clean up once a year) One time documentation for 3
years.
• Loan limit will be based on the Indicative per Acre limit prescribed by SBP

DEVELOPMENT LOANS/FINANCES (TERM LOANS)

• Loan Tenure: up to 5 years

• Repayment: Monthly/Quarterly/Bi-Annual

CRITERIA SELECTION
SHOULD:

• be a Pakistani & have a CNIC.

• preferably be an account holder with ABL.
• have a permanent residence and be a self-cultivator.
• not be a defaulter of any other Financial Institution/Clear ECIB.
• be reputable in the business
• have ‘Repayment Capacity’
• be able to produce proper securities

AMOUNT OF FINANCE

• Value of agricultural land/Pass Book

• 80% of PIU or 50% of last 3 years’ average Sale Price or Market Value
• 50% of Residential/Commercial property in municipal limit.
• 90% of DSCs/SSCs/TDR/SNDR

INSURANCE

• Insurance facility is available for all Farm and Non Farm Loans except orchards.
• Insurance premium amount of subsistence holding farmers availing loans for
following 5 major crops will be reimbursed by the Government of Pakistan

39
 1. Wheat
2. Rice / Paddy
3. Cotton
4. Sugar Cane
5. Maize

CORPORATE LEASING

Allied Bank started lease operations when it integrated with Ibrahim Leasing Limited.
Facilities include leases for machinery, commercial vehicles and equipments. The Bank
provides lease facilities to corporate and commercial clients in all industrial enterprises
for balancing, modernization, replacement and expansion schemes.

Leasing is a popular mode of financing because of its distinctive features like tax shield,
preserve working capital, easy documentation and less processing time.

Lease applications are processed at all Bank branches in Pakistan.

ALLIED ATM NETWORK

Allied Bank has a vast network of over 522 ATMs installed in over 130 cities, which
continues to grow at a rapid pace.

BRANCHES & ATMS

Online Banking facilities are available to customers maintaining accounts at all online
branches across the country. The following facilities are available:

• Cash Deposit for immediate credit to a remote branch.

• Remote Cheque Encashment from any online branch.
• Instant Funds Transfer between any 2 online branches.
• Remote Balance Inquiry and Statement of Account.

Additionally, account holders of all online branches can obtain the Allied Cash+Shop
Visa Debit Card for use at ATMs as well as at POS terminals

Allied ATM network

40
 Additionally, Allied Bank is a member of the ‘1-LINK ATM sharing switch’
comprising of over 2,000 ATMs nationwide, therefore, giving its Allied Cash+Shop
Visa Debit Card holders access to even more ATMs across the country.
The "1-Link Switch" has the following Bank members:

• ABN Amro Bank KASB Bank

• Meezan Bank Limited
• National Bank of Pakistan
• NIB Bank Limited
• PICIC Commercial Bank Limited
• Soneri Bank Limited
• Standard Chartered Bank Pakistan Limited
• Union Bank Limited
• United Bank Limited
• MyBank Limited
• Tameer Micro Finance Bank Limtied
• Habib Bank Limited
• Limited Al Baraka Islamic Bank
• Allied Bank Limited

41
• Askari Commercial Bank Limited
• Atlas Bank Limited
• Bank AL Habib Limited
• Bank Alfalah Limited
• Bankislami Pakistan Limited
• Crescent Commercial Bank Limited
• Dubai Islamic Bank Pakistan Limited
• Emirates Global Islamic Bank Limted
• Faysal Bank Limited
• First Dawood Islamic Bank Limited

All ATMs connected with the"1-Link Switch" will show its Logo.

M NET NETWORK

The Allied Cash+Shop Visa Debit Card can also be used at M Net ATMs, for
cash withdrawal.

The "M Net Switch" has the following Bank members:

• JS Bank (American Express Bank)

• Bank of Khyber
• Bank of Punjab
• Citibank
• First Women Bank Limited
• Habib Metropolitan Bank
• HSBC Bank
• Muslim Commercial Bank
• Saudi Pak Commercial Bank
• Prime Commercial Bank

42
 Bank:
City:
Branch:
Address:

ORIX POS NETWORK

City:

Merchandiser:
Address:

UNCLAIMED DEPOSITS

All unclaimed deposits are surrendered to the State Bank of Pakistan. The customers’
may access relevant information from the following addresses:

ATTENTION VALUED CUSTOMERS

UNCLAIMED DEPOSITS/INSTRUMENTS

In accordance with the Banking Companies Ordinance, 1962, Section 31, the Bank is
liable to surrender to S.B.P, all unclaimed deposits and instruments which have not been
operated/collected by the account holders/beneficiaries for last 10 years.
All such customers/beneficiaries are requested to contact the concerned brance to re-

43
activate their accounts/collect the instruments, failing which, the bank will be compelled
to classify the same "UNCLAIMED" and surrender to SBP.

STATE BANK REVISED INSTRUCTION ON UNCLAIMED

DEPOSITS

PUBLIC NOTICE

AS PER SECTION 31 OF BANKING COMPANIES ORDINANCE

1962

A debt in Pakistan Rupee is owing by a banking company by reason of a deposit, not

being a deposit in the name of a minor or a government or a court of law, at a branch of
the banking company in Pakistan in respect of which no transaction has taken place and
no statement of account has been requested or acknowledged by the creditor during the
last ten years period are considered as unclaimed deposits. These include demand deposit,
time deposit, pay order, demand draft, etc.

As per instructions of the State Bank of Pakistan, all un-claimed deposits are surrendered
to the SBP. The customers’ may access this information at the following addresses:

1. Allied Bank website, respective branches of the Bank and Finance Group, Central
Office, Karachi.
2. Website of State Bank of Pakistan
3. Field Offices of SBP Banking Services Corporation in Karachi, Lahore,
Peshawar, Quetta, Islamabad, Rawalpindi, Faisalabad, Multan, Sialkot,
Bahawalpur, Gujranwala, Hyderabad, Sukkur, D.I.Khan and Muzaffarabad.

All the claimants can apply for refund in the bank branch where deposit/instrument
account was opened/payable. In cases where such branches have been closed /shifted,
the nearest branch of the same bank should be contacted. It may please be noted that
after completion of one-year from the date of making the list public, all unclaimed
deposits/instruments will cease to be claimable and will be transferred to the
government.

44
OTHER SERVICES

Other services of Allied Bank are:

1. Utility bill
2. lockers
3. hajj services

1. UTILITY BILL

Customers can pay their utility bills (e.g. electricity, gas, telephone) at
any of the Bank’s branches. For further convenience, bills are collected on all working
days during normal banking hours and also at certain times during the evening. Bills can
be paid with cash or cheque, plus customers can even drop crossed cheques in drop-boxes
available at all branches.
Furthermore, customers can also pay their bills using any of the Bank’s
ATMs or via Internet Banking for SSGC and SNGP bills.

2. LOCKERS

Allied Bank Lockers are available, at an annual fee, in four different sizes
- small, medium, large and extra large. Locker holders are not required to have an
account with the Bank.

Annual Locker Rent Maximum Loss

S. # Locker Size
(Current) Coverage / Limit

1. Small Rs.1,500/- Rs.500,000/-

2. Medium Rs.2,000/- Rs.1,000,000/-
3. Large Rs.4,000/- Rs.1,500,000/-
4. Extra Large Rs.5,000/- Rs.2,000,000/-

45
 3. HAJJ SERVICES

The Hajj Service is available to all pilgrims. The forms and other related services are
provided by the Bank. Hajj applications are available with all branches during Hajj
season, immediately after the Hajj policy is announced by the Government of Pakistan.

PROFIT RATES

46
47
48
INTERNET BANKING

49
Banking is now at your fingertips! Allied Direct Internet Banking offers you the
convenience to manage and control your banking and finances - when you want, where
you want! It's Simple, Convenient, Secure and Faster. So, just get clicking!

Some of the advantages of Allied Direct Internet Banking are:

(A) Simple and Convenient

Easier navigation and help provided at every step so you can make full use of this
service. With Allied Direct convenience is just a click away.

(B) Secure and Faster

Encrypted with latest tools and technologies, Allied Direct is the choice for secure
and fast Internet Banking.

(C) 24x7 Access

You now have access to your account 24 hours a day, 7 days a week. You can
transfer funds or pay bills, even when it's a holiday.

To use Allied Direct Internet Banking, you should be a registered Allied Bank
Account holder with a valid ATM.
Card. If you do not have an account, please visit any of our nearest branches and open
your account and obtain an ATM Card. Our friendly branch staff will help you open your
account quickly.

ONLINE BANKING

50
 Allied Online Banking is a unique service being offering from Allied Bank.
Through this service, your account in Allied Bank is available to you from any of our
branches countrywide.

No matter where you are in the country and whichever branch your account is
maintained at, you can have your cheque cashed at any of our 757 online branches
located in 250 cities. You can also use the service, from any branch, to deposit cash for
instant credit into your account or any other account in Allied Bank. Similarly, the
account-to-account Funds Transfer facility is also available for instant remittance.

Your cheque drawn from a remote branch for credit into a beneficiary’s account or
encashment of a specified amount, can also be presented by a third person at any branch.
What’s more, making a Balance Inquiry and getting an Account Statement are additional
services available to Account holders from remote branches.

Allied Online provides a secure, efficient and convenient facility for making
payments to beneficiary accounts from any of our branches countrywide. Corporate
customers requiring fund collection or a disbursement facility can use it for cash
management services.

51
 &
CORPORATE
BANKING

52
CORPORATE BANKING

• Corporate Banking
• Investment Banking
• Financial Institutions & Cash Management

CORPORATE INVESTMENT BANKING

The Corporate Investment Banking Group (CIBG) holds the Bank’s loan portfolio and
enjoys a leading position in corporate lending in the country. It offers a wide range of
financial services to medium and large sized public and private sector entities. These
services include, providing and arranging tenured financing, corporate advisory,
underwriting, cash management, trade products, corporate finance products and customer
services on all bank related matters. The Bank has played a key role in the country’s
economic growth by providing a vast amount of funds to large industrial and corporate
sectors of the economy. And because it has played a big part in major investment and
corporate banking transactions, Allied Bank is considered one of the top investment
banks in the country today.

(Corporate Investment Banking Group)

Corporate Banking Investment Banking Financial Institution

- Project Finance - Project Finance - Cash Management

- Long Term Financing - Syndication - Home Remittances
- Short Term Financing - Advisory
- Trade Finance

ABL-IBG is the most Preferred Investment Banking Outfit because of…

AWARDS

• Timely Completion of Mandates

• Highly talented and experienced analysts
• An employee focused work culture
• Flexible delivery models to satisfy client specific requirements
• A cost effective, one window solution for customers
• Its ability to rapidly adapt to changing industrial & client specific processes.
• The dedicated ‘Transaction Manager Model’ ensuring high quality service at all
times

53
ABL’s Investment Banking team won its first major award in November 2006, for “The
Corporate Finance House of the Year, 2005-2006” by the CFA Association of Pakistan,
the local body of the CFA Institute, USA.

For its consistently superior performance, ABL’s Investment Banking team was once
again awarded “The Corporate Finance House of the Year, 2006-2007” award by the
CFA Association of Pakistan, the local body of the CFA Institute, USA. This award was
given to ABL based on its highest value and number of Investment Banking and
Advisory Transactions concluded during the period July 2006 – December 2007.

ABL’s Investment Banking Unit has also received international recognition by “The
Banker” magazine UK, which has honored ABL with the “The Banker Deal of the Year
2008 – Pakistan” award for its successful Rs.13 Billion balance sheet restructuring of
Maple Leaf Cement Factory Limited (the largest financing arranged for a cement factory
in Pakistan).

CORPORATE BANKING

CBG offers a wide range of financial services to medium and large sized public and
private sector entities. CBG has expertise in providing exemplary customized and
personalized service to its Corporate Customers under the Relationship Management
concept, which is basically catering to all the customer needs through ‘One Window’
operations. CBG has strategically placed its presence in all major corporate hubs of the
country namely Karachi, Lahore, Islamabad, Multan and Faisalabad.

54
It presently enjoys a leading position in corporate lending in the country and has played a
key role in economic development of the country by providing large facilities, long term,
short term, working capital etc in all the key sectors of the economy. Despite being a late
entrant in Corporate Banking, CBG has not only able to position itself as one of the prime
banks for the existing clientele but also created and cemented new relationships with
several top tier names in the market.

INVESTMENT BANKING

ABL – IBG was established in 2005 and focuses on the Investment Banking market.
It has the highest number of Successful Arrangement and Participation in Key
Privatization & Acquisition Financing Transactions achieved by any Investment Banking
Group in Pakistan.

• It has already penetrated the investment banking market by taking the lead in a
number of major transactions and arranging funding of more than US$ 6 billion to
date.

55
 • ABL – IBG is reputable for building business on the basis of strong corporate
relationships and showing a clear understanding of Structured Finance.
• The team consists of dedicated and young professionals with extensive
experience, who provide various Advisory & Arrangement Services to Corporate
Clients.
• ABL-IBG has played an active role in Debt Origination and Distribution through
innovative and tailor made solutions for its target customer base. It is also well
known for having successfully completed mandates in a timely manner, and is
regarded as one of the most active Investment Banking entities in the country
today.

IBG – Range of Services

FINANCIAL INSTITUTIONS

ABL’s Financial Institutions team shows a strong commitment to product and business
development.

Our client portfolio includes top domestic names, important regional players, top global
financial institutions, covers banks, NBFIs, leasing companies, modarabas, microfinance,
the insurance sector and specialist money transfer companies.

ABL's dedicated team of Financial Institution professionals brings a wealth of local and
international expertise to all facets of this complex industry, and can serve as your single
point of contact for a comprehensive set of products and services, including:

56
 • Inbound trade services
• International remittances with immediate processing capability
• Payment and collection solutions
• Confirmation
• Advising
• Negotiation
• Guarantees
• Payments
• Trade finance
• L/C Issuance
• Reimbursement
• Bilateral Key Exchange Arrangements
• Discounting

As our institutional customers face continuing challenges, they look to ABL for
comprehensive transactional banking solutions, greater operational efficiency and broad
geographic coverage.

Please contact us to explore the ABL value proposition on +92-21-5301048 or e-mail

allied.express@abl.com.pk

CASH MANAGEMENT

ABL’s cash management team offers a full range of transactional banking services, from
collections to cross-border payments, from customized services to comprehensive
industry expertise. Having the largest real-time online branch network in Pakistan,
combined with a host of value-added services, ABL is uniquely positioned to meet the
demanding requirements of global corporates, public sector enterprises and top-tier
domestic companies.

With its collaborative approach to building and implementing solutions, ABL is

committed to giving its customers the best service possible.

For more information about our services, please contact us at your convenience. We look
forward to hearing from you.
Email: ficm.div@abl.com.pk

HOME REMITTANCES

Allied Bank has rolled out its state-of-the-art ‘e-Remittance’ services to facilitate
international remittances sent to Pakistan Pakistanis.by overseas

57
ABL has been significantly important in originating home remittances to Pakistan, and is
continuously working to develop innovative ideas for maximizing its reach to all
Pakistanis living abroad. We have identified several strategic partners in the main
overseas markets, and will be providing a fully automated, end-to-end solution for non-
resident Pakistanis.

ABL’s real-time online branch network – one of the largest networks in Pakistan, consists
of over 760 branches in 350 cities, and provides domestic distribution of remittances to
customers receiving money in Pakistan.

A host of top international banks, exchange houses and funds transfer companies from
across the world, including the Middle East, Europe, Asia-Pacific and North America,
have been involved to make this a quality service. By implementing a fully automated,
straight-through processing facility, we are in a position to activate an innovative set of
remittance products.

A host of options is available to non-resident Pakistanis under this service, including

direct credit to account, cash payment over the counter and issuance of the Allied Express
cheque, a payment instrument that can be honored across the entire ABL network of
branches.

Please contact us to explore the ABL home remittances value proposition on

+92-21-5301048 or allied.express@abl.com.pk

OBSERVATION & FINDING

58
• Banking image among the general population is not good

• Product features are not well defined to the customers

• Selection criteria for any product not carrying any rationale

• Interest rate is not fixed

• Lot of ambiguity regarding pay back system

• Behavior of recovery team with customers is very harsh

RECOMMENDATION & SUGGESTION

59
• Banks should focus more towards the education of customer regarding their
products

• Sales team training on own & competitors features of each product

• Train sales & recovery department on human skills to improve their behavior
with the customers, which will help banking industry to improve their image

• Customer complete understanding needed before taking consent sign on

document

• Consent document should be translated in Urdu as majority of customer don’t

understand the technical verbiage in used in these documents

• Banks needs to focus to improve their image among the general population

• Training at branch level must be provided to the employees because this is a

need of current affair & time when employees of bank attain skills from Staff
Colleges the risk factor automatically decreased and further fraud/forgers chances
come on minimize level and this is successful stage it is mostly depend on the skills
of employees.

60