Internship Report

Presented To: NIB bank Prepared by: Abdul waheed

Date 3rd Sep 2012

Table of content
1- Executive Summary

1
2- History of the Bank

1
3- Customer services

2
4- Account opening requirements

3
5- Consumer products

Executive Summary
As a major Requirement of my MBA program is internship, so I decide to do my internship in an organization in which I can learn more about the courses which I have studied during my MBA degree specialization, for this purpose I joined NIB Bank Limited and appointed as internee. After entering in organization I was assigned to work in all prospects of bank for short time period. This experience helps me a lot to be more informed about the environment of this type of banking field. I learn a lot in short time period which helps me to understand professional life. In NIB Bank employee have very good relationship among themselves and also with their customers. They treated me very well during my internship duration and help me to understand the way of doing work. They trained me very well that I can easily understand the way they are doing their work. The environment of NIB Bank was so pleasant and friendly. During my stay at NIB Bank Limited I have learned a lot of things about professional field like culture of the organization and behavior of employee like how to deal with customer to become a loyal customer of the organization. From the start of its from 2003, the performance of NIB Bank is so good. Now a days NIB bank plays a central role in Pakistans financial and economic development. NIB bank stands in the list of leading banks in Pakistan. Nib bank has largest online network in Pakistan and have more than 240 domestic branches in Pakistan. Its customer relationship is the back bone of its success. In NIB bank employees aim is to ensure customer satisfaction by providing high quality banking services. This is only possible by professionalism of employees. The online branch network is the core strength of NIB Bank customer can use the online services free of charge.

History of the Bank

NIB started as NDLC-IFIC Bank which was incorporated in March 2003, as a public limited company. NIB Started operations in October 2003 with a paid up capital of Rs.1.2 bn. NIB has branches all over Pakistan. NIBs vision is to rank amongst top 5 banks in Pakistan. Therefore it acquired majority shares of PICIC on June 28 2007, which also gave control of its subsidiaries including a commercial bank PCBL, an asset management company PICIC AMC and PICIC Insurance. NIB has over 2600 employees. 3

Customer services
I started my internship with customer services department because this is the back bone for any organization. NIB is trying to serve according to the desire of the people. People want to choose: Where Where Where Where Where Where Where there is proper interaction, there is proper solution for the problems, the mark up rate is low, staff is cooperative, there are service standards the procedure is easy and the easy installment are possible,

So according to these requirement of the people of NIB decreases the mark up rate to 9 %, which is lowest markup rate in the Pakistan, basically in the banking sector, they start to serve the market with two different strategies, first is to introduced the products or service on low price, and then increase the service charges, and 2nd one is to introduced the service on high price and then decrease the charges. The NIB Bank is using 2nd strategy. And in the future of NIB is trying to maintain this strategy for gaining the market share. The main responsibilities in customer services department were; To attract the customers and retain them. To listen the customers complain and solves their problems and confusions (if any). Properly guide the customer To fill deposit slips. To clear cheque. Money Transactions. Account opening. CBC (Call Back confirmation) Cheque Return calling ATM calling Cheque book calling Maintaining CVR (Customer verification report) Branch cleanliness Maintaining complaint box
4

Friendly environment in bank premises Easy Banking Proper guidance regarding SOC (Schedule of Charges) Manage customer traffic within the branch to ensure key service standards are met. Actively involved in the activation of branch dormant accounts.

Account Opening
Types of Accounts Holders: Salaried Individuals Minors Illiterate Accounts Visually Impaired Persons Joint Accounts Sole Proprietorship Partnership Trust Accounts Societies, Clubs & Associations Limited Companies Non Resident accounts

Documents Required for Account Opening Although the procedure of opening an account in a bank is a quite complicated job but some of the basic necessities for opening the account are as follows: Individuals: 1. Attested Photocopy of CNIC/Passport 2. Attested copy of acceptable evidence of service 3. In case of illiterate person, passport size photograph and right and left thumb impression on SS card Sole 1. 2. 3. Proprietorship: Attested Photocopy of CNIC/Passport Request/Declaration letter on firms letterhead (as per banks format) Copy of NTN Certificate (optional) 4. In case of illiterate person passport size photograph and right and left thumb impression on S S card

Partnership: 1. Attested photocopy of CNIC of all partners

5

2. Attested copy of partnership Deed duly signed by all partners of the firm 3. Attested copy of registration certificate with registrar of firms (if Registered) 4. Unregistered Partnership 5. Authority/Request letter, in original, in favour of the person authorized to operate thee account (as per Banks format) Companies: (Certified copies of): 1. Resolution of board of Directors for opening of account specifying the person authorized to operate the company account 2. Certificate of commencement of business 3. Memorandum and articles of association 4. Attested photocopies of CNIC of all the directors and authorized signatories 5. Form 29 certified by SECP 6. Certificate of incorporation 7. List of Directors 8. Copy of NTN certificate (Optional) Clubs, Societies and Associations: 1. 2. 3. 4. Certificate of Registration Attested copy of CNIC of the authorized person By-laws/Rules & Regulations An undertaking signed by all the authorized persons on behalf of the institution mentioning that when any change takes place in the persons authorized to operate on the account, the bank will be informed immediately 5. Resolution of the Governing body committee for opening of account authorizing the person to operate the account Agents Accounts: 1. Certified copy of power of Attorney 2. Attested photocopy of CNIC of the agent Trust Account: 1. Attested copy of certificate of Registration 2. Attested photocopy of CNIC of all the trustees 3. Certified copy of instrument of Trust

Basic Procedure for Account Opening In the start I have stated the account opening procedure and issuance of cheque book in a very comprehensive way, now let me tell u the further related detail of account opening. First of all a customer comes and gets the information regarding the opening of account. After getting the proper information he gets an introduction and goes for opening an account of any kind whatever he wants. He fills the form regarding the opening of account which is in fact a request. S.S card is filled which contains the signature that will be used in future in order to identify that you are the same particular person who perfectly eligible for receiving the benefits. Indemnity form is filled and after reading carefully, Vernacular indemnity and undertaking indemnity, applicant signs it as per AOF/SSC, As per CNIC / ID Doc. KYC (Know your customer ) form is filled which contain o General Information o Transaction Profile o Co-Applicants / Signatories / Mandates / Others o Business / Employment Details The S.S card, the application form, indemnity form, KYC form and all other necessary documents are verified and the verification stamp is imposed on it. After verification of application forms are pasted in the file with the serial no. which is actually the account no. Allocated to the respective customers. The cheque book is issued to the customer after three days. A letter of thanks is posted to the customer as well as the introducer. The introducer is thanked for the two perspectives. The procedure for opening the account comes to an end after sending the letter of thanks. Issuance of Cheque Book

Once the account is opened, NIB Bank issued the cheque book to the customer so that they could withdraw their money whenever they like. The producer of issuance of the cheque book is as follows: For the customer who already had an account with the bank, the lastly consumed cheque book application slips with the help of which a new cheque book is issued. The person who is going to open a new account for the first time gets the cheque book without any requisition slip. For the new depositors the cheque book is not issued at the time of opening of account, rather it is issued after three days. NIB BANK issues the cheque books for both the local and foreign currency accounts. I remained there in the account-opening department for about one and half week and daily I learnt a new thing.

Consumer products
It consists of the following 1. Bancassurance 2. Auto Finance Bancassurance Insurance and protection products help to provide security for customers and their families. NIB offering the following 1. NIB future 2. Cash Guard 3. MediCash NIB Future: NIB joined hands with EFU Life Assurance Limited to bring for its customers a long term savings and investment plan along with a protection plan that keeps pace with their changing needs at every stage of life. Be it a childs future or an early retirement plan, NIB is there to prepare for all the important milestones in a customers life and protects loved ones in unexpected times of trouble. Cash guard: NIB offers a pre-underwritten insurance coverage to our customers in collaboration with New Jubilee Insurance Company Limited. MediCash:
8

It creates the need for Hospitalization insurance to protect against this financial burden. The need for a cover is far greater when we talk about the breadwinner therefore, Jubilee Generals MediCash policy offers daily cash benefit to compensate them against Hospitalization Expenses arising due to sickness and accidents, in case the Insured Person is so confined as Resident Inpatient.

Auto Finance Features & Benefits New, Used, Imported Vehicles with minimum down payment Loan amount ranging from Rs.300,000 up to Rs. 1.9 mm Flexible tenures ranging from 1 Year to 5 Years Competitive interest rates 20% to 27% Insurance with Free Vehicle Tracker Hassle Free Documentation & Quick Processing Linked Current Account ATM linked facilities

Who can apply? Salaried professionals / Businesspersons /Self-employed Individuals (Existing NIB borrowing / liability customers only) Minimum age of applicant 30 years Maximum age of applicant 65 years Work Experience Minimum 3-year service experience for salaried & 3 years experience for businesspersons or self-employed individuals

Nationality Pakistani

Required Documents for Auto Finance General Requirements Complete Application with Customers Signatures Valid Copy of CNIC with O/S 2 Latest Photographs Six Month Bank Statement with sign & Stamped SBP undertaking Account opening form.

Salaried Individuals Salary Certificate Latest Salary Slip Six months Salary A/C Bank Statement

Business/Self Employed Proprietorship Concerns: etc. Partnership Concerns: Pvt. Limited Concerns: account bank statement Proprietorship letter (if available), NTN Copy of Partnership Deed. Copy of Latest Form 29/Form A, with Personal

10