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Tuesday, November 28, 2010 Mr. Monzoor Morshed School of business Independent University, Bangladesh (IUB) Baridhara, Dhaka. Subject: Letter of Transmittal. Dear Sir, We have pleasure in presenting the annual report for Eastern Bank Limited. Here is the report on the detailed analysis of Eastern Bank, which has been assigned to us for the course HRM 370. Our report encompasses the picture of EBL’s compensation board which provides EBL to their employees. Due to time constraint and other limitations, we could not come up with a commanding report. However, we have tried our level best in this report with the help of the scrutinized collected information during our class in IUB. Thanks for giving us this opportunity to work on this report. It has been a real didactic assignment for us. If you need any assistance in interpreting this report it would be our immense pleasure to cooperate with you. Sincerely yours, Members of Rumman group
Table of content Acknowledgment Executive summary Methodology Company Profile HR policy Company structure Board of directors Compensation Recommendation Appendix Page10 page no 3 4 5-6 7-8 9 10-11 12 13 14 15 .
School of Business. Monzoor Morshed. Independent University Bangladesh for his eager. He is so older employee in EBL. Saiful Islam who gave idea about the EBL compensation board. We are also very thankful to the EBL’s employee Mr. helpful and enthusiastic guidance which encourage us to accomplish this report. Mr. He is customer relationship manager. Munir hossian who give many information about EBL (Eastern Bank Limited). As a result we are very grateful to IUB officials who have allowed us to do HRM 370.Acknowledgement At first we want to thanks to IUB (Independent university Bangladesh) because IUB had provided us the opportunity to carry out this study. And he also gives many ideas about the compensation about any company. And we am also very thankful and grateful Mr. Than we would like to express our gratitude and thanks to our respected faculty. Page10 .
the prevailing competition analysis. which we knew during the survey. in a real world scenario in order to tackle the problems. the background analysis. In this report the detailed analysis of the organization has been done and all the financial. which we have undergone through and learned during my internship program. policies and procedures of the bank have also been discussed in detail. This report also contains our perceptions about the employees’ satisfaction. by working in practical environment and to apply the knowledge acquired. and the internal environment and external environment of the organization have been discussed and the recommendations for the improvement have been made wherever required.Executive Summary After acknowledgement we would like to make the executive summary of our report. during the studies. The main purpose of this report is to learn. In the end the learning and experiences section consists of all the policies. managerial and strategic aspects have been evaluated to analyze the current position of the organization. the processes. we have discussed about every major aspect of the bank. processes. . motivation level and the working environment of the organization. practices and procedures. During our survey program. And we are sure that this report will provide you a Page10 complete and clear image of organization. the business process analysis. technical. Along with it. we mainly worked with compensation board. This department has been discussed in detail and all the policies and procedures have been described thoroughly. Along with it. In this comprehensive report.
Page10 3. The primary dataprimary data can be collected through questionnaires. Respondent’s anonymity can be maintained. The data can be collected through primary &secondary data. The questionnaire survey will be the most effective method for this study to collect data for this study for the following reasons1. Quicker rate of response. It is clear idea of procedure and system. In the research design it is seen that how the data should be used. 4. we collected • Company profile • Existing files and records But we collect EBL compensation board information by survey. Questionnaire survey will be the most appropriate one for this study. Measurement instrument: To gather data the reporters will use questionnaire. Through the secondary data. Methodology differs from another in this respect and hence conclusions arrived may also vary. Data collection method In any report or project it take a very important role. 2.Methodology: The term methodology refers to process and producers by which approach problem and seek answer. Research design Research design is simply the frame work or plan for a study that is used to guide for collection of data and analysis the data at specifies the procedure and method for acquiring the information. Flexibility of data collection. it provides information for analysis and interpretation. .
We find limited articles to access with relevant data and information. 2010 Submission Limitation There is some limitation in this research proposal such as We did not have sufficient time for preparing better research proposal As we don’t have any previous experience of doing a research proposal. Research timeline 2010 October 15 Go for survey at EBL 2010 October Data collection procedure 2010 October Development of conceptual frame work 2010 November 20 Data analysis and interpretation of findings 2010 November 28.In most of the studies conducted on the variables of the current study. so this study might suffer from lack of experience. the researchers used questionnaire survey for their study. Human being sometimes don’t provide proper and accurate information Page10 .
Debit Cards. SME and Corporate Banking units are capable of handling every kind of customer financial needs. During the past five years. EBL provided the first “Green Loan” in Bangladesh in Solar Panel manufacturing plant which will contribute to transform the lives of 1 million people of the most remote and off-grid areas by lighting up their homes.Eastern Bank Limited: Profile With a vision to become the bank of choice and to be the most valuable financial brand in Bangladesh. EBL has its presen ce in 11 major cities/towns in the country including Dhaka. Sylhet. employees and above all for the community it operates in. From Student Banking to Priority Banking to Platinum card EBL has almost all banking products in its repertoire. Over the years EBL has established itself as a leading private commercial bank in the country with undisputed leadership in Corporate Banking and a strong Consumer and SME growth engines. EBL is the first bank in Bangladesh to go online. (EBL) began its journey in 1992. The product basket is rich in content featuring different types of Savings & Current Accounts. creating lasting value for its clientele. 2. 62 ATMs and 5 Kiosks countrywide. Credit Cards. VISA corporate cards. Page10 . Personal Loans. Pre-paid Cards. EBL’s ambition is to be the number one financial services provider. EBL offers a wide range of depository. shareholder. insurance covered monthly savings scheme. At present. On the SME banking window EBL offered customer–friendly and groundbreaking products like EBL Uddom and EBL Mukti. The customers are served through a network of 39 Branches. Chittagong. remittance card and mobile–based remittance solution are just a few of them. Treasury & Syndication services. Internet Banking. Rajshahi & Cox’s Bazar. Khulna. Eastern Bank Ltd. EBL Matribhumi – the bundle product for expatriate Bangladeshis. Product Basket Bangladesh Banking Sector has grown from strength to strength over the past one decade and is fiercely competitive. SME Banking. EBL Consumer. especially in the Consumer Banking segment. Product Innovation EBL is known for its product innovation in the market. loan and card products to cater virtually for every customer segment. Investment Banking. EBL introduced 12 new-to-Bangladesh financial products and services. EBL different from other Bank 1. Corporate Banking.
We will create an enabling environment and embrace a team based culture where people will excel. To contribute towards balanced growth and development of the country through investment operations particularly in the less developed areas. 5.3. EBL is the first ever local bank to finance Aircraft purchase deal of Biman Bangladesh Airlines. To establish participatory banking instead of banking on debtor-creditor relationship. To extend co-operation to the poor. Prior to this. EBL launched first ever Bank. both internal and external. To establish a welfare-oriented banking system. Mission They will deliver service excellence to the customers. Page10 . procedures and training to maintain a cohesive and professional team in order to achieve service excellence. Aims & Objectives • • • • • • • • To conduct interest-free banking. They will ensure to maximize shareholders' value. To invest on profit and risk sharing basis. only multinational banks used to finance such projects. To contribute in achieving the ultimate goal of Islamic economic system. the helpless and the low-income group for their economic upliftment.sponsored Mutual Fund in Bangladesh Vision To become the bank of choice by transforming the way we do business and developing a truly unique financial institution that delivers superior growth and financial performance and be the most recognizable brand in the financial services in Bangladesh. 4. To play a vital role in human development and employment generation. EBL generates highest profitability per employee in Bangladesh Banking sector. We will constantly challenge our systems.
B.Com iii. MSc. MBA (Preferred) ii. BBA none (Management . MSc. BSc.Recruitment Policy Eastern bank limited practices two types of recruitment policy: • Contractual Aimed to hire the most experience high level officials • Regular To hire entry level officials in three fields: Probationary Officer/ Management Trainee Officer Executive The qualifications required for different level of managerial position is graphed below: Category Qualification (general) Qualification (advanced) Executives i. BSc.Com ii. M. B.Com ii. MBA Experience in the banking sector Officers i. M.Com iii. MBA none Probationary Officer Page10 i.
Junior Officers 2.Trainee) Different level of management: Top level Executives: There are some top level executives in Eastern bank limited like 1. Board of Directors 2. Executive Vice Presidents 4. HR Officers Lower-Level Executives: There are some top level executives in Eastern bank limited like 1. Senior personal officers 2. Managing directors 3. 2nd Officers 3. Vice Presidents Mid-Level Executives: There are some top level executives in Eastern bank limited like 1. Labors CHAIN OF COMMAND Person CHAIRMAN BOARD OF DIRECTORS MANAGING DIRECTOR EXECUTIVE VP SENIOR VP VICE PRESIDENTS ASSISTANT VP Page10 Number of person 1 11 1 2 7 11 10 .
Mid-Level Executives Their salary is based on their rank or position in the hierarchy and salary structure at this level has more or less rigid form. which is upgraded in line with the competency of the market.000 minimum. The earn from 45.The Bank’s salary structure differs from level to level of the managerial hierarchy. some are includes like Board of Directors. Lower-Level Executives Salary at this level has the same structure and form practiced in the mid –level. And the compensation level is totally different from the different level. They earn monthly 65000 taka or above.000 maximum. Vice Presidents ect. The salary basis can be explained as such: Top level Executives Remuneration of the top-level executives mainly depends on the demand for the executive. Executive Vice Presidents. In Top level Executives.000 maximum to 25. They are the key for the organization. Therefore collective bargaining does take place while hiring. In this level mainly head hunting is the practice for hiring the most efficient executive. Managing directors. They do not across 9000 taka. They earn 9. Page10 .
Mohd. Asif Mahmood Director M/S. Mir Nasir Hossain Director Mr. Shaukat Ali Director Page10 Ms. Unique Eastern (Pvt) Ltd.Board of Directors Mr. Gazi Md.M. Shakhawat Hossain . Md. A. Aneela Haque Director M/S Aquamarine Distributions Ltd. Represented By: Mr. Noor Ali Chairman Mr. Showkat Ali Chowdhury Director Mr. Represented By: Mr.
COMPENSATION SYSTEM OF EBL EBL provides the following benefits to its different employees: Mr. Ormaan Rafay Nizam 1. they want more extra compensation like- . House Rent Allowance Abdur Rahim (Director From The (Director From The Depositors) 2. Meah Mohammed Mr. Conveyance Depositors) Director Director 3. Ali Reza Iftekhar Managing Director & CEO LEVEL House rent Conveyance House maintenance Entertainment Utility Medical Top level 27000 above or 5000-10000 6000-15000 5000-10000 800015000 300010000 Middle level 12000 above or 2000-3000 3000-5000 2000-5000 50008000 20005000 LowerLevel 2000 500-1000 None None None None Page10 Recommendation After depend on contracting employee. Entertainment 5. Medical Mr. House maintenance 4. Utility 6.
Gain sharing. Lump-sum bonuses Pay for knowledge PTO is present within the bank Job sharing is excepted by the organization Childcare or something like that is present EBL offer tuition reimbursement Benefit like financial needs. The information will be kept confidential.– tuition reimbursement – gym facilities – Satisfactory Provided fund policy – Childcare or something – Job sharing Appendix: Survey on Employee Benefit of Eastern Bank [This questionnaire will be used to prepare a research paper which will be submitted to the Course Instructor of Human Resource Management.] No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Question The benefit of EBL is world standard Health care is sufficient Pension plan is good Perks is there Encourage employees to exhibit superior performance: Profit sharing. gym facilities is there Satisfactory Provided fund policy Accommodation and other utility Conveyance Annul leave 1 2 3 4 5 Page10 5 = Strongly Agree .
4 = Agree 3 = neither Agree nor Disagree 2 = Disagree 1 = Strongly Disagree Page10 .