Professional Documents
Culture Documents
Chapter - 1: Overview or Profile of IFIC Bank Limited
Chapter - 1: Overview or Profile of IFIC Bank Limited
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Legal Form
Authorized capital
Tk 1600 Million
Paid up capital
Tk 671 Million
Listing Status
Market Category
A category
210-200-0537,LTU,DHAKA
9021077014
REGISTERED OFFICE
Auditors
Name of Chairman
Mosharuf Hossain
Number of employees
3152
Number of Branches
82
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Number of Shareholder
9562
Chairman
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
BRANCH
MNUMONIC
1
2
0801
ASHU
2030
1197
AGRABAD BRANCH
ASHULIA BRANCH
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3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
1112
1096
6187
1011
5064
3138
6188
4166
6082
4067
2034
2054
6086
2040
2050
2035
2148
2044
1193
1006
6083
1014
1023
2152
1008
2041
1109
3151
1002
2137
9900
1005
4061
1017
1195
2031
4060
1121
4062
1025
2153
1118
1019
1094
1001
1004
BAJITPUR BRANCH
BANANI BRANCH
BANESHWAR BRANCH
BANGSHAL BRANCH
BARISAL BRANCH
BEANI BAZAR BRANCH
BELKUCHI BRANCH
BENAPOLE BRANCH
BOGRA BRANCH
BORO BAZAR BRANCH
BRAHMANBARIA BRANCH
CDA AVENUE BRANCH
CHAPAI NAWABGANJ BRANCH
CHAWK BAZAR BRANCH
CHOUMUHANI BRANCH
COMILLA BRANCH
COMPANYGANJ BRANCH
COX'S BAZAR BRANCH
DANIA BRANCH
DHANMONDI BRANCH
DINAJPUR BRANCH
ELEPHANT ROAD BRANCH
FARIDPUR BRANCH
FATIKCHARI BRANCH
FEDERATION BRANCH
FENI BRANCH
GHORASAL BRANCH
GOALA BAZAR BRANCH
GULSHAN BRANCH
HATHAZARI BRANCH
HEAD OFFICE
ISLAMPUR BRANCH
JESSORE BRANCH
KAWRAN BAZAR BRANCH
KERANIGANJ BRANCH
KHATUNGANJ BRANCH
KHULNA BRANCH
KONABARI BRANCH
KUSHTIA BRANCH
LALMATIA BRANCH
MADAM BIBIR HAT BRANCH
MADHABDI BRANCH
MALIBAGH BRANCH
MOHAKHALI BRANCH
MOTIJHEEL BRANCH
MOULVI BAZAR BRANCH
BJIT
BANA
BNSW
0808
BARI
BEAN
BELK
BENA
0812
BORO
BBAR
CDAB
CHAP
CBZR
CHOU
COMI
CPNY
COX
DANI
0814
DINA
0810
FDP
FATK
0807
FENI
GHO
GOAL
0802
HATH
HO
0799
0811
0816
KERN
0800
0804
KONA
KUSH
LAL
MBHB
MADB
MALI
MOHA
0796
0797
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50
51
52
53
54
55
56
57
58
3046
1115
1022
6085
1003
1110
1029
1020
1016
4163
59
1028
60
61
62
63
64
65
66
67
68
69
70
6084
1027
1173
6080
6081
1198
4065
1171
2042
1007
1092
71
2132
72
73
74
75
76
77
78
79
80
81
82
2045
3047
1090
3043
3033
1126
1091
2036
3139
3049
1024
MBD
MKT
MSIN
NAOG
0798
NAR
0817
NAYA
NTG
0815
NBHR
PBNA
PLLB
PANC
0805
RANG
RUP
0813
SAVR
SAM
SHAN
SHAR
NOJU
SMR
SMGL
STOK
SUBD
0803
TKHT
TANB
0809
TULT
UPO
0818
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1.7 PRODUCTS
Simply product is a solution of customer needs and wants. A product is an element in the
market offering. Product is anything that can be offered to a market for attention.
IFIC CARDS
IFIC Card is powered by VISA, world's largest electronic payments network. IFIC Bank
has been issuing VISA branded Credit Card, Debit Card & Prepaid Card. Customer can
choose any of the above card according to his/her need.
IFIC
CREDIT CARD
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IFIC
DEBIT CARD
IFIC Bank VISA Debit Card can be used at any ATM displaying VISA Logo for
withdrawal of cash and at any POS displaying VISA Logo for purchase of goods &
services within Bangladesh. ATM transactions are to be secured by Personal
Identification Number (PIN) known by the concerned customer only. POS transactions
will not require PIN. However, all the transactions are to be authorized by the system
electronically. IFIC debit card is issued against any individual savings/ current account
maintained with any branch of IFIC Bank Limited. The designated savings/current
account can be operated by using the debit card without using cheques 24 hours in a day,
7 days in a week, 365 days in a year. The customers are not required to pay any charge
for transactions at Merchant Point of Sale (POS) for purchasing goods and services. For
cash withdrawal from ATM/Branches, a little charge may be applied. No interest will be
calculated on cash withdrawal or purchases. No minimum amount due and no hassle of
payment of monthly bills.
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IFIC
PREPAID CARD
IFIC Bank VISA Prepaid Card can be used at any ATM displaying VISA Logo for
withdrawal of cash and at any POS displaying VISA Logo for purchase of goods &
services within Bangladesh. ATM transactions are to be secured by Personal
Identification Number (PIN) known by the concerned customer only. POS transactions
will not require PIN. However, all the transactions are to be authorized by the system
electronically. Prepaid card is safer than carrying cash and more convenient than writing
cheques. IFIC Prepaid card is issued by the branches instantly on filling-up the
Application Form and making initial deposit. There is no need to have any account with
the Bank. Prepaid card are suitable for the customers who does not maintain any account
with IFIC. No interest will be calculated on cash withdrawal or purchases. No minimum
amount due and no hassle of payment of monthly bills.
Bank POS are available at all the branches of the Bank. Any IFIC Card Holder can
withdraw cash from any branch of IFIC Bank Ltd. through Bank POS. Credit Card
Holders can withdraw cash up to 100% of their credit limit.
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Customer Care
Customers can feel free to visit our Card Division on any working day or dial 9559703 or
PABX: 9563020 Ext. 500, 502 or Fax: 9570282 or email: mailto:'card@IFICbankbd.com'
for further information. Please dial 9559703 or 01713229817 at any time for help.
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LEVELS OF PRODUCTS
1 POTENTIAL
PROUCT
2 PRODUCTS
AUGMENTED
5 CORE
BENEFIT
3 EXPECTED
PRODUCT
4 BASIC
PRODUCTS
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Product Attributes
Branding
C.S.S
Packaging
Attractive Brochures
Various Deposit
Schemes
Labeling
Product Support
Service
Distinction From
Others
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Idea Generation
Business Analysis
Business Analysis
Testing
Commercialization
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UPCOMING SERVICE
1. ATM
2. BANKING SOFTWARE
3. TELE BANKING
4. INTERNET BANKING
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CHAPTER -2
Introduction to the Report/Study
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These types of training & development criteria are not always followed in private and
public organization of Bangladesh and this is our job to find out the cause and impact of
the problem.
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Data Sources
Primary sources
Secondary sources
Verbal Interview,
Questionnaire, discussion
etc.
Articles, Newspaper,
magazine, Internet, IFIC
Report etc.
Both primary and secondary data will be collected for the study. Primary data will be
collected through standard questionnaire and interview method. The questionnaire will
prepare on the basic of the objective of the study. Secondary data have been collected
from the text books, annual report of the bank, published documentation of the bank,
internet etc.
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CHAPTER -3
Analysis and Interpretation of the Data
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In addition to conducting courses internally, The Academy also selects candidates for
nomination to various courses conducted by distinguished training organizations in the
country including Bangladesh Bank Training Academy and Bangladesh Institute of Bank
Management.
The Academy also re-designs its courses, programmers etc, regularly to meet the
requirement of new skills arising out of various directives, guidelines of the Central Bank
and significant changes in the banking sector from time to time.
3.1.1 HR POLICY
Policy is guideline to action Human Resource policy is the most vital element of
corporate policy since it guides recruitment, selection, orientation training and placement
of personnel. Apparently human resource policy is concerned with proper use human
required for undertaking activities in order to achieve corporate goals and objectives.
Security of employments.
Opportunity to growth.
Fair salary.
Objectives evaluation of work.
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Looking ahead and ensuring production and distribution of superior quality foods
and services for catering to the rising and changing requirements of the
consuming public.
Rewarding star performers. Reward should be earned, not given.
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Training differs from education. Training is concerned with increase in knowledge, skills,
and abilities of the employees in doing a particular job. It has a narrow aim limited to
increase in knowledge and skill related to a job. Education, on the other hand, broadens
the mental faculties and horizon of knowledge. It is concern with enhancing general
knowledge and motivating one to understand the total environment.
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Training widens job related knowledge of the employee. Employees become more skilled
and update their knowledge through training. Training provides necessary instructions for
performing the current job efficiently. Training differs from education and development.
Imparting of training to the employees has become very much important in modern times
for better performance of the job. Here it can be said that the question of training does not
arise but making choice of the method of training arise.
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CONCEPTUAL FRAME OF
TRAINING PROGRAMMES
EXECUTIVE
DEVELOPMENT
PROGRAMMES
MANAGERS
CONFERENCE
TOP
LEVEL
MANAGEMENT
WORKSHOPS
SENIOR
LEVEL
EXECUTIVE
DEVELOPMENT
PROGRAMMES
SPECIALIS
ED
COURSES
ON
JUNIOR
LEVEL
FOUNDATION
COURSE FOR
PROBATIONARY
OFFICERS
SPECIALISED
COURSES ON
FOREIGN
EXCHANGE
FOUNDATION
COURSE FOR
OFFICERS
GRADE- II
ADVANCE
COURSES
COURSE
ON
MARKETI
NG
BASIC COURSE
FOR
CASH/COMPUTER
OFFICERS
FOLLOW-UP
AND
EVALUATION
COURSES
INDUCTION
COURSE FOR
OTHER
EMPLOYEES
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MID
LEVEL
the
banks
objective.
Methods
in
training
include:
discussion/
abroad for higher training is regular feature. A research department also works in aid of
HRD operational areas.
In the year 2008, the academy has conducted 31 programmers (including training,
workshop and seminar) where a total number of 1059 Executives and Officers attended.
Besides, 56 Executives and Officers for BIBM training, 13 Executives and officers sent
for BBTA training and 7 Executives and officers were sent abroad for foreign training.
Make available skilled and dedicated workforce within shortest possible time by
reducing time required for on the job training.
Impart technical skill to the operation level officers through case studies/practical
exercises/ demonstration/project visit for efficient desk operation.
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3.4.7 FACULTY
The academy has built up a pool of knowledgeable/competent trainer within the bank. In
addition to permanent and professional trainers, speakers are drawn from operational side
so that on the job experience may be exchange and shared. Over and above, speakers
from Central Bank, professional training institutions, universities, research organizations
and Govt. organizations are also invited to share views and experience. Senior and retied
bankers are also regularly to enhance effective of training.
3.4.8 LIBRARY
The academy has a good collection of books, journals and magazines. The books are
mainly on subjects like banking, economics, accounting, management and marketing etc.
As on December 31, 2008 the library had 5,653 books/titles. The books are issued t the
employees usually for one month
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Strongly Agree
60%
Disagree
5%
Neutral
5%
Agree
30%
Strongly Disagree
0%
As we found that, the analysis shows the maximum employee gives their decision with
strongly agree so we can say or give my comments that it is a good organization.
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Strength:
There is much Strength in this organization from my point of view, though much strength
but I would like to discuss such type of entireties:
Strength
75 Numbers of Branches
IFIC BANK LIMITED is the 1st private generation Bank in banking environment in
Bangladesh & it provides customer satisfaction within 25 years. Now there are 75
Numbers of Branches in six division .There are 2251 numbers of employees allover the
country & contribute of our economy by their hard and soul working, on the other hand
35% share of Govt.
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Weakness:
In my case study, I gathered some weakness in this organization which is very essential to
overcome for this organization, such as
New comers
in on Banking
Employee
turnover
tendency high
Lack of ATM
Weakness
Most of the
employees are
not adapted in
online
Banking
Marketing
Policy
Insufficient of
paid up capital
From my point of view there are many weakness in this organization .paid up capital is
not accurate in the rule of Bangladesh Bank .IFIC Bank Limited has 164.00 million
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instead of 200 million. Newcomer online system, for this reason they are not totally
adapted in online Banking ATM Booth is not all over the country, they have not enough
marketing team to advertising of their product line
Opportunity:
Opportunity:
Market Capture
through Branches
Aggressive product
IFIC BANK LIMITED has a big network to capture the whole items of customer by its
aggressive product.
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Threat:
Bangladesh is a third world country & practicing a democracy policy by this policy Bank
are affected some hassles ,which is a big threat for a Bank .on the other hand Global
recession & Rising of new generation Bank ,New generation bank are provide highest
facilities for their customer which is a lack of the IFIC bank limited .
Violence
Global
Recession
Govt.
interference
Threat
Political
system
Rising of new
generation
Bank
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CHAPTER -4
Findings, Suggestions & Conclusion
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Top Management set up the target of profit for every branch depending of the
volume of the branch position and level.
They face troubles with those clients who have not any knowledge in banking
transactions and banking rules.
From the clients view introducer is one of the problems to open an account. It is
general problem to all Private commercial bank.
IFIC Bank has recruited high skilled employees to filling its lower and mid level
position.
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one problem is that bank always follows the policy of risk averse in the world
today all the organization are moving in approach of risk taking. As a result it is
facing some problems and also facing competition from other bank.
The recovery of capital in small business loan section is threatened.
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4.3 SUGGESTIONS
It has a large portfolio with huge asset to meet up its liabilities and the management of this
bank is accomplished with the expert bankers and managers in all level of management
and with a little knowledge about banking, it is not an easy job to find out the difficulties
of this branch. Rather than recommending I would like to give my opinion to improve the
banking service and make the customer more satisfied.
loan processing time. For reducing loan-processing time, branch manager should be given
more power to sanction loan. This power can eliminate the time. Branch should have
independent appraiser for appraising term loan proposal.
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banking may be in progress. Moreover by adopting this system the bank can join in
modern competition of along with e-commerce concept.
4.4 Conclusion
There are a number of Private Commercial Banks, Nationalized Commercial Banks and
foreign Banks operating their activities in Bangladesh. The IFIC Bank Ltd. is one of
them. For the future planning and the successful operation for achieving its prime goal in
this current competitive environment this report can be helpful guideline.
From the practical point of view I can declare boldly that I really have enjoyed my
Internship Report on Training and development of IFIC Bank Ltd, from the first day.
Moreover, Internship Report that is mandatory to complete my BBA program, although it
is obviously helpful for my career building.
In the last decade there has been a revolution in the communication media through the
introduction of internet and other forms of secure dial-up media. This had an immense
impact on all the sectors of the industry specially the banking sector. The number of
banks is increasing day by day because the demand of the customer for the banking
service is high .as a result there is a highly competitive situation in the banking sector and
people have many option incase of taking banking services .As a central bank of
Bangladesh The Bangladesh Bank always adopting measures for putting banking
institution on right track and also monitors the activities of these banks to prevent from
doing illegal activities.
To compete in the environment of advancing technology and faster communication the
IFIC should depend more heavily on the quality service and information technology. No
doubt about it that IFIC achieve superior position in our banking industry but to cope
with customer IFIC should think how to make it services proactive. To compete with
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other banks operation in Bangladesh, IFIC should introduce easier way for faster
processing of credit analysis.
Banks always contribute towards the economic development of a country. Compared with
other Banks IFIC Bank Ltd is contributing more by investing most of its funds in fruitful
projects leading to increase in production of the country. It is obvious that right channel
of Banking establish a successful network over the country and increases resources; will
be able to play a considerable role in the portfolio of development in developing country
like ours.
IFIC Bank Ltd playing its leading role in socio-economic development of the country.
Since inception IFIC Bank Ltd has been rendering its Banking services with the needs of
the nation to cope with the demands of people in the country. By doing many other works
for state & society, IFIC Bank Ltd has emerged as the pioneer of playing key role in the
country.
As a leading bank of Bangladesh, IFIC contributes in the business with promising future.
I can hope that IFIC can spread their business with increasing various scheme and other
utility services.
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Bibliography
Books:
Smigel, L. M. (2000). Basic Training for New Managers, Delhi: Replika Press Pvt Ltd.
Noe, R. A. (2005). Employee Training and development, New York: McGraw-Hill.
Jackson, S. & Schuler R. (2006). Managing Human Resources: A Partnership
Perspective, South-Western Publishing.
Bank Publications:
Website:
www.ificbank.com
www.bangladeshbank-bd.org
www.wikipedia.co
http://en.wikipedia.org/wiki/List_of_banks_in_Bangladesh
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Appendix
Questionnaire
SECTION: A
Name:
Designation:
Gender:
Your highest level of education: (please tick one)
1. SSC
2. HSC
3. Bachelors
4. Masters
5. Others (please specify)
SECTION: B
Complete the following questionnaire by filling the answer that best describes your
feelings about each statement. For each item, put your response according to the
following.
A. Strongly Agree
B. Agree
C. Neutral
D. Disagree
E. Strongly Disagree
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QUESTIONS
1. Employee training and development is a part of organization development.
A. Strongly Agree
Disagree
B. Agree
C. Neutral
D. Disagree
E. Strongly
B. Agree
C. Neutral
D. Disagree
E. Strongly
B. Agree
C. Neutral
D. Disagree
E. Strongly
B. Agree
C. Neutral
D. Disagree
E. Strongly
B. Agree
C. Neutral
D. Disagree
E. Strongly
E. Strongly
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8. The relation between top level, mid level and lower level is important to achieve
organizations goal.
A. Strongly Agree
Disagree
B. Agree
C. Neutral
D. Disagree
E. Strongly
9. IFIC maintain all Employee Act as well for justify employees facilities given.
A. Strongly Agree
B. Agree
C. Neutral
D. Disagree
E. Strongly
Disagree
10. IFIC use useful method for training.
A. Strongly Agree
B. Agree
C. Neutral
Disagree
D. Disagree
E. Strongly
11. Top level management evaluates the training performance of the Employees.
A. Strongly Agree
B. Agree
C. Neutral
D. Disagree
E. Strongly
Disagree
12. IFIC understand the training needs for new employee.
A. Strongly Agree
B. Agree
C. Neutral
D. Disagree
Disagree
E. Strongly
E. Strongly
E. Strongly
15.
Employee is performing well after received training.
A. Strongly Agree
B. Agree
C. Neutral
D. Disagree
Disagree
E. Strongly
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16.
Employee has opportunities to develop their skills.
A. Strongly Agree
B. Agree
C. Neutral
D. Disagree
Disagree
E. Strongly
17.
IFIC also arrange cross training programs.
A. Strongly Agree
B. Agree
C. Neutral
D. Disagree
Disagree
E. Strongly
18.
Customers are satisfied about your banking services.
A. Strongly Agree
B. Agree
C. Neutral
D. Disagree
Disagree
E. Strongly
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