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Internship Report on The Bank of Punjab with Complete Analysis 2009

Internship Report on The Bank of Punjab with Complete Analysis 2009

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Complete internship report with all analysis
Complete internship report with all analysis

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Published by: Mohsin Saeed Bukhari on Jul 11, 2010
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The Bank of Punjab
 
HISTORY OF BANKING IN PAKISTAN
Pakistan came into being on 14th August, 1947; sufficient banking serviceswere available in the areas forming Pakistan. Out of the total branches of the nearly3,500 in the undivided India, as many as about 1,500 branches were existing in theseareas.It was agreed between the two countries that reserve bank of India shallcontinue to function in the Pakistan territory until 30th September 1948 and thatIndian notes would continue to be legal tender at Pakistan until 30th September 1948.Unfortunately, relationship between the two countries became most strainedimmediately after independence; banking was mostly in the lands of Hindus whoimmediately started transferring their offices and assets into India. As a result most of the banks in Pakistan were closed down and even those which were open were notdoing any effective business.The number of banking office in Pakistan came down to about 200 on 30thJune 1948. Branches of some European banks were also functioning in a limitedmanner, financing in export of crops, and their number was limited to about 20.It was only the Habib bank, which transferred its office from Bombay toKarachi Austral Asia bank was another bank, which was in existence in the Pakistanterritory at the time of independence. Despite of best efforts on the part of governmentof Pakistan, no heady way could be made on this behalf and reserve bank of India wasin no mood to help the new country. Imperial bank of India, agent of the reserve bank of India also started closing down its branches in Pakistan.Reserve bank also refused to advance money to Pakistan to make essential payments such as salaries etc, also Pakistan’s share of Rs.75 billion in cash balancewas with held by bank, causing hardships to the newly born state. In view of thesehopeless state affairs it was agreed between the two countries that reserve bank wouldserve as monetary authority in Pakistan only up to 30th June 1948.
Internship Report- 1 -
 
The Bank of Punjab
 
NATIONALIZATION OF BANKS
The principle of nationalization of banks is to stream line the operation of commercial banks in such a way that it may be conductive to the developmentactivities in process in the country.Since the commercial banks were owned controlled by big business groups of the country it was feared that these banks would not maintain uniformity in their operational and would be instrumental to inflationary pressure. However, theconsiderations behind nationalization are
To form uniformity in the policy of the commercial banks so they may serve the best national interest.
To make the operation of commercial banks highly sensitive and responsive to the policy of the government relation to financial matters.
To make the credit policy of the commercial banks more purpose full andeffective especially in the development of economic sectors of the country. It actsas an agent of the State Bank of Pakistan
To make the best use of the funds available at the disposal of these banks for theeconomic development of the country.
To eliminate unhealthy and uneconomic competition among commercial banks.
To development strong money banks market in the country so that the value of currency may be maintained at stable level both in national facilities to exporter and agriculturists which have not been satisfactory in the past years.
Public Sector Commercial Banks
 National Bank  NBPFirst Women Bank LimitedFWBThe Bank of KhyberKBThe Bank of PunjabBOP
Internship Report- 2 -
 
The Bank of Punjab
 
Local Private Banks
Askari Commercial Bank LimitedBank Al-Falah LimitedBank Al Habib LimitedMeezan Bank LimitedFaysal Bank LimitedSilk Bank LimitedSoneri Bank LimitedUnion Bank LimitedMuslim Commercial Bank LimitedAllied Bank of PakistanUnion Bank Limited
Foreign Banks
ABN Amro Bank CITI Bank Habib Bank A. G. ZurichMashreq Bank PJSCOman Bank Barclays Bank Standard Chartered Bank 
Specialized Banks
Zari Tarqiati Bank Ltd.Industrial Development Bank of PakistanPunjab Provincial Cooperative Bank Limited
Internship Report- 3 -

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