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Allied Bank Internship Report1471588691
Allied Bank Internship Report1471588691
net
Regards
VUSTUDENTS.NET TEAM.
Virtual University of Pakistan
Submitted By
Syed Ahsan Ali Zaidi
Mcxxxxxxxxx
Session 2009 2011
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All vu39 members especially my cute little sweet fellows who
&
Mr. Lonely
:p red alert
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First of all, I want to express all my humble thanks to ALLAH who is very sensitive about each
and every activity of all his men and without whose help, I am unable to accomplish any
objective in my life. All respect to his Holy Prophet HAZART MUHAMMAD (Peace Be Upon
Him) who brought the light of knowledge when the humanity was wandering in the desert of
ignorance.
Secondly, I am grateful to my prestigious institute that made his learning opportunity a part of
our education, especially. Internship coordinator MR. Imran who not only guided me well but
also helped me in finding such an excellent place for internship. I am also thankful to all other
teachers as the knowledge imparted by them enables me to gain knowledge of the organization in
best way.
I would also thank to all the staff of Allied Bank, particularly Mr. Rana Riaz Ahmad who gives
support me, I can never give the return of their un tired struggle for me, but I can only prove
myself as they expect from me. And I am also grateful to all other family members and all my
friends for their moral boosting and spiritual support during my study and especially in this
internship program. I went to pay gratitude to all persons, who had helped me in completing this
support.
Muhammad Chatta
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MBA (Finance)
EXECUTIVE SUMMARY
This report is about my internship program with Allied Bank Limited. In this comprehensive
report, I have discussed about every major aspect of the bank, which I observed and perceived
during my internship program. In this report you will find the detail about the bank right from its
incorporation to the current position. Along with it, the processes, policies and procedures of the
bank are also discussed in detail.
During my internship program, I mainly worked in General Banking & Finance. All the
departments have been discussed in detail and all the policies and procedures have been
described thoroughly.
As the main purpose of internship is to learn by working in practical environment and to apply
the knowledge acquired during the studies in a real world scenario in order to tackle the
problems using the knowledge and skill learned during the academic process, In this report the
detailed analysis of the organization has been done and all the financial, technical, managerial
and strategic aspects have been evaluated to analyze the current position of the organization.
Along with it, the background analysis, the prevailing competition analysis, the business process
analysis, and the internal environment and external environment of the organization have been
discussed and the recommendations for the improvement have been made wherever required.
In the end the learning and experiences section consists of all the policies, processes, practices
and procedures which I have undergone through and learned during my internship program. This
report also contains my perceptions about the employees satisfaction, motivation level and the
working environment of the organization.
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Index Description Page
1 OVERVIEW OF ORGANIZATION
3 TRAINING PROGRAM 35
4 RATIO ANALYSIS 38
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14) Earning per Share
15) Price/Earning Ratio
5 FUTURE PROSPECTUS 55
6 CONCLUSION 56
9 ANNEXES
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OVERVIEW OF THE ORGANIZATION
A. The Brief History Organization
Allied Bank is the first Muslim bank, to have been established on the territory that became
Pakistan.established in December 1942 as the Australasia Bank at Lahore with a paid-up share
capital of Rs. 0.12 million under the Chairmanship of Khawaja Bashir Bux, the Bank had
attracted deposits, equivalent to Rs. 0.431 Million in its first eighteen months of business. Total
assets then amounted to Rs. 0.572 million. Today Allied Bank's paid up Capital & Reserves
amount to Rs. 10.5 billion, deposit exceeded Rs. 143 billion and total assets equal Rs. 170
billion. The Allied Bank's story is one of dedication, commitment to professionalism, adaptation
to changing environmental challenges resulting into all round growth and stability, envied and
aspired by many.
In the early 1940s the Muslim community was beginning to realize the need for the active
participation in the field of trade and industry. The Hindus had since the late 1880s established a
commanding presence in these areas and industry, trade and commerce in the undivided Sub-
continent was completely dominated by them. Banking, in particular, was an exclusive enclave
of the Hindus and it was widely believed, and wrongly so, that Muslims were temperamentally
unsuited for this profession. It was particularly galling for Khawaja Bashir Bux to hear the gibe
that Muslims could not be successful bankers. He decided to respond to the challenge and took
lead in establishing this first Muslim bank on the soil of Punjab that was to become
Australasia Bank was the only fully functional Muslim Bank on Pakistan territory on August the
14th, 1947. It had been severely hit by the riots in East Punjab. The bank was identified with the
Pakistan Movement. At the time of independence all the branches in India, (Amritsar, Batala,
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Jalandhar, Ludhaina, Delhi and Angra (Agra)) were closed down. New Branches were opened in
Karachi, Rawalpindi, Peshawar, Sialkot, Sargodha, Jhang, Gujranwala and Kasur. Later it
network spread to Multan & Quetta. The Bank financed trade in cloth and food grains and thus
played an important role in maintaining consumer supplies during riot affected early months of
1948. Despite the difficult conditions prevailing and the substantial set back in the Banks
business in India, Australasia Bank made a profit of Rs 50,000 during 1947-48. By the end of
1970 it had 101 branches. Unfortunately it lost 51 branches in the separation of East Pakistan.
The bank did well in despite losing lot of its assets. By the end of 1973 the bank had 186
branches in West Pakistan.
As a result of privatization in September 1991, Allied Bank entered in a new phase of its history,
as the worlds first bank to be owned and managed by its employees. In 1993 the First Allied
Bank Modaraba (FABM) was floated.
In May 2005 Ibrahim Leasing Limited was amalgamated by transfer to and vested in with and
into Allied Bank Limited. ILL shareholders were issued ABL shares in lieu of the ILL shares
held by them. Application for the listing of ABL shares in all the Stock Exchange Companies of
Pakistan was made. ABL was formally listed and trading of the shares of the Bank commenced
w.e.f. the following dates.
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Vision
To become a dynamic and efficient bank providing integrated solutions in order to be the first
choice bank for the customers
Mission
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Board of Directors
Company Information
Board of Directors
Mohammad Naeem Mukhtar Non-Executive Director
Chairman
Sheikh Mukhtar Ahmad Non-Executive Director
Mohammad Waseem Mukhtar Non-Executive Director
Abdul Aziz Khan Non-Executive Director
Farrakh Qayyum Non-Executive Director
Government Nominee
Nazrat Bashir Non-Executive Director
Government Nominee
Tasneem M. Noorani Independent Director
Mubashir A. Akhtar Independent Director
Pervaiz Iqbal Butt Independent Director
Sheikh Jalees Ahmed Executive Director
Mohammad Aftab Manzoor Executive Director
Chief Executive Officer
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B. Organizational Hierarchy Chart
The management hierarchy represents the different positions and designations in the hierarchy of
the ABL. However, this is not the reporting hierarchy but merely represents the positions and
grades on the basis of seniority and grades.
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C. Business Volume
The business volume of bank comprises on deposits and advances of any bank so ABL Business
Volume Figures are as under for the year 2008 to 2010:
During 2010, the Group successfully embarked upon its strategy of increasing the proportion of
low cost deposits. Deposits grew by 13% to reach Rs. 371 billion as at December 31, 2010 over
the previous year with share of CASA improving on average volume basis from 53% during
2009 to 55% in 2010, thereby managing. The cost of funds in contributing to improved
profitability.
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D. Product Lines
ABL facilitates its customers by providing different types of services of deposits, advances,
foreign exchange and other general services. Here is the list of services provided by bank:
Current Account
Allied Business Account
PLS Saving Deposits
Allied Basic Banking Account
Foreign Currency Deposits
PLS Term Deposit Account
Allied Munafa Account
Behtar Munafa account (BMA)
Behtar Munafa Term Deposit (BMTD)
Mahana Aamdani Package
Allied Bachat Scheme (ABS)
Allied e-Savers Accounts (ESA)
Home remittances
Remittance
Hajj services
Utility bills
Lockers
Agriculture finance
Import Export business/Trade finance
Allied bank rupee traveller cheques
Seasonal finance
Running finance
Cash finance
Demand finance
Corporate leasing
All time banking
On line banking
Internet banking
Visa credit card
ATM Net Work
Helpline
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E. Competitors
The following are the competitors of Allied Bank Limited which stands in cause of competing
with its diametrically opposed products
Bank Al Falah
Citibank
Faysal Bank
Indus Bank
Soneri Bank
Metropolian Bank
Askari Bank
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F. Brief Introduction Of All Departments
The general banking department performs functions of account opening, deposits of cheque,
demand draft, telegraphic transfer, clearing, collection of utility bills etc. it consists of following
departments to perform its functions.
Cash department
Accounts department
Remittance department
Clearing department
2. Cash Department
a) Accept deposits:
When a customer wants to deposit any amount in its account it goes to the relevant
officer who accept deposit and give a receipt to the customer. The cashier in cashier
long book enters the amount deposited by the customer on its credit side.
3. Accounts department
One of the important functions of bank is to accept deposits from general public. Following are
the types of accounts provided by the bank:
1. Current accounts.
2. Pls saving accounts.
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3. Pls term deposit.
4. Special notice deposit.
The classification is based on the duration and purpose for which the deposits are kept at the
bank. Following are the features of these accounts.
4. Remittance Department
One of the major functions of bank is remittance. This department provides this facility through
following instruments.
1. Demand draft
2. Telegraphic Transfer
3. Payment order
4. Deposit at call
5. Clearing Department:
When the branch receives cheques of other banks than one process of getting payment
against these cheques is that you sent a person who will take money on your behalf but in these
cities where State bank exist this function is performed by clearing. In State bank of Pakistan
there is a clearinghouse. It involves two clearing procedures,
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G. Comments on Organizational Structure
The Allied Bank Limited departments structure is well managed and capable of enhanced
services. They provide their shareholders the very best performance. The ABL is capable of
while building further limits of the organization potential. The Finance department plays vital
role in arranging its superior contagious financial statements in conformity with generally
accepted accounting principles. All the departments are required to make certain estimates,
judgments and assumptions that affect the reported amounts of assets and liabilities at the
date of the financial statements and the reported amounts of revenues and expenses during
the periods presented. Most of them based estimates on historical experience, available
information and various other assumptions they believe to be sensible under the
circumstances and they evaluate estimates; however, actual results may differ from these
estimates under different assumptions or conditions. The accounting policies they believe
require managements most difficult tasks to accomplish and complex judgments are most
critical to their reporting of results of operations and financial positions.
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1. Plan of Internship Program:
The ABL Bank Limited deliberated as an immense part to get know-how in field of Finance
specialization to polish or to groom my skills. The whole banking staff is so well managed and
forthcoming for the internees. I observed that the workforce contains all those qualities to be a
No Departments Duration
1 Accounts 6 Weeks
2 Remittance 1 Week
3 Cash 1 Day
4 Clearing 4 Day
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I got training in the General Banking & Finance department compliance to there tremendous
work under T24 accounting software at 0722-kashmir road branch. The employees there had
bright chances to get promotion as they provide many attractive opportunities to employees
and internees.
Focusing the dimension of Finance, therefore this reputable banking environment suited me up
to the best of my satisfaction. In the period of one month, I was assigned the task to work in the
General Banking department of ABL Bank Limited. I was assigned the task to maintain the
accounts under single entry and double entry system and also be familiar with account opening,
During my training program I get familiar with all finance department activities. It is
beneficial for me to understand the account controlling and cash flow procedures. They guide
me how to deal customer when he deposit money in account, the deposit slip is needed to put
account number and further details to get authorized by the MTOs to accomplish the
prerequisite.
My duty was under the Accounts department for six weeks, under Remittance department to
maintain pay-orders; demand drafts (DD) for one week also to be familiar with term Pak
account, one day at Cash department and the remaining four days at Clearing department.
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In addition, the amount both in words and figures should be mentioned with signature
authority. The sorting of cheques maintaining debit and credit vouchers. They told me how
to respect our customers values, beliefs, culture and history. We value the equality of gender
and diversity of experience and education that our employees bring with them because we
create an environment where each individual is enabled to succeed. I learnt about mutilated,
crossed cheques, inward and outward clearing accomplishing the whole task related to
I also noticed the types of accounts and closing of an account for which the form of
undertaking is filled by the customer to close his account acquiring the further intimation to
acknowledge the customer for closing of his account having approval to close account on a
certain cause.
data in the finance department. I was assigned to sort all kinds of expense vouchers, cheques of
the finance department and recording of the transaction in journal and tax deduction charges
1. Cash Department:
In cash department I learnt how to make payments on cheques, accepts deposits and
collection of utility bills. The parties to cheque must be considered while
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acknowledging the person who is ordering for payment, the bank who has to pay the
amount and finally the payee who is receiving the payment. The cheque is the most
important, convenient and well established medium of modern banking used for
withdrawal of funds and settlement of debts by an account holder i.e a drawer. While
taking cheques from customers the verification of signatures must be kept in mind be
checked according to the signature card. I observed that when cheque is posted it is
supervised to know the effect of posting and if the cheque is ok it is forwarded to
the cashier for payment. Further more, when a customer wants to deposit any amount
in its account it goes to the relevant officer who accept deposit and give a receipt to
the customer. I learn when a customer wants to deposit any amount in its account it
goes to the relevant officer who accept deposit and give a receipt to the customer. The
cashier in cashier long book enters the amount deposited by the customer on its credit
side. Another facility provided to customers the utility bills collection of electricity,
gas and telephones. The bank collects utility Bills during banking hours. Bills can be
paid through cash or cheques.
2. Accounts Department:
Under accounts department they assigned me the task to accept deposits from general
public which is the main task of accounts department. I identify with continued
addition of new accounts is an important functional activity of a bank because it not
only builds up its deposits base, but also increases its profitability, it is very necessary
for its survival. All deposits are opened with a fixed minimum cash deposit. It is
checked carefully that account opening form is complete in all respects and signed by
the account holder and introducer. I checked carefully whether the account opening
form is complete in all respects and signed by the account holder introducer. I
recognized to get an additional precaution attested copy of national identity of
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account holder and introducer will be obtained. In addition, the opening account
relevant information is recorded in account opening register. I observed that the
continued addition of new accounts is an important functional activity of a bank
because it not only builds up its deposits base, but also increases its profitability, it is
very necessary for its survival. All deposits are opened with a fixed minimum cash
deposit.
3. Remittance Department:
In remittance department they assigned me the task to handle the instruments like
Demand draft, Telegraphic Transfer, Payment order, Deposit at call etc. The Draft is an
order cheque drawn by the one branch of the same bank to pay sum of money to drawer
resolute the bank demand draft must have the Payees name, Date of issue, Amount in
words and figures, Drawee, Branchs name code, Address and Serial number. I filled out
and made entry by recording in DD- demand draft registers. I observed when a Demand
draft is received and paid than an entry is made in Demand draft payable register. Further
more, I come to know about deposit at call are kept as security when a tender is submitted
by a person to a company. If the tender is approved than these are payable to that
company but if person fails to get approval of tender than these are cancelled and will be
4. Clearing Department:
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In clearing department the branch receives cheques of other banks than one process of
getting payment against these cheques is that you sent a person who will take money on
your behalf but in these cities where State bank exist this function is performed by
drawer, drawee, cheque number, account number and the amount. In the same way when
payment is received from the other bank than I entered in inward clearing register. The
representatives of local banks meet there at 9:00oclock and exchange there cheques and
other instruments with each other. Than they come to their bank and check these
instruments that these are ok or not. The representative again meet at 12:00 oclock in the
clearance house and the cheque which are ok get payment against these and the cheque
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1. Net Profit Margin Ratio
i. Ratio Formula:
ii. Calculation:
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iv. Interpretation of Ratio:
This ratio indicates the percentage of net profit margin the bank in year 2010
shows us the profit margin the efficiency of the bank is in safety as compared
to year 2008 and 2009
i. The risk extending as actual profit of the bank getting low predicts the
decline of sales or low margin of safety but the overall the profit is
growing up from 13.60% to 18.28%.
ii. As the turnover is increasing the profit of the ABL same as declining
from 2010 to 2008
iii. The bank performance as calculated in year 2010 is better than 2008
because of its turnover.
i. Ratio Formula:
ii. Calculation:
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iv. Interpretation of Ratio:
This ratio indicates the percentage of net mark-up / interest income over gross
mark-up income the bank in year 2010 shows us the net mark-up of the bank
is in standard position.
i. The net mark-up income depicts that in year 2010 the higher
percentage of mark-up established as the 93.42% that of
88.42 in the year 2008 financial analysis from un-
consolidated statement.
ii. The net mark-up income is maximized at 2010 while
minimized in 2009 and 2008.
iii. The bank gross spread ratio as calculated in year 2010 is
better than 2009 because of its gross income.
i. Ratio Formula:
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ii. Calculation:
= = =
56.65% 58.67% 59.72%
This ratio indicates the percentage of non interest income to total income the
bank in year 2008 shows us the net mark-up of the bank is in standard
position.
i. The net mark-up income depicts that in year 2010 the higher
percentage of mark-up established as the 59.72% that of
56.65% in the year 2010 financial analysis from un-
consolidated statement.
ii. The income is maximized at 2008 while minimized in 2009
and 2010.
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iii. The non interest to total income ratio as calculated in year
2008 is better than 2010 because of its total income.
i. Ratio Formula:
EBIT x 100
Total Assets
ii. Calculation:
20,160,239
24,153,445/449,931,526 15,038,730 /
/418,374,331
= 2.74% 366,695,669 = 1.67%
=2.52%
iii. Working:
In year 2010,
In year 2009,
In year 2008,
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v. Interpretation of Ratio:
This ratio indicates the percentage of non ROA of bank in year 2010 shows.
i. The return on assets depicts that in year 2010 the higher
percentage of assets established as the 2.74% that of 1.67%
in the year 2008 financial analysis from un-consolidated
statement.
ii. The income is maximized at 2010 while minimized in 2008
and 2009.
iii. The Return on assets ratio as calculated in year 2008 is better
than 2010 because of its total assets.
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i. Ratio Formula:
ii. Calculation:
22,565,044/
18,699,809 / 418,374,331 13,297,816 /366,695,669
449,931,526
=4.47% = 3.63%
= 5.02%
This ratio indicates the percentage of non ROA of bank in year 2010 shows.
i. The Du Pont on assets depicts that in year 2010 the higher
percentage of assets established as the 5.02% that of 3.63%
in the year 2008 financial analysis from un-consolidated
statement.
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ii. The Du Pont on assets is maximized at 2010 while
minimized in 2008 and 2009.
iii. The Du Pont on assets ratio as calculated in year 2008 is
better than 2010 because of its total assets.
i. Ratio Formula:
ii. Calculation:
iii. Working:
In year 2010,
In year 2009,
In year 2008,
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iv. Graphical Representation:
v. Interpretation of Ratio:
This ratio indicates the percentage of ROE of bank in year 2010 shows.
i. The ROE depicts that in year 2010 the higher percentage of
equity including share capital, reserves and un-appropriated
profit established as the 72.40% that of 63.90% in the year
2008 financial analysis from un-consolidated statement.
ii. The ROE is maximized at 2010 slightly difference in 2009.
iii. The ROE ratio as calculated in year 2010 is better than 2008
because of its total equity.
7. Debt Ratio
i. Ratio Formula:
ii. Calculation:
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Year 2010 Year 2009 Year 2008
This ratio indicates the percentage of debt ratio of bank in year 2008 shows.
i. The debt ratio depicts that in year 2008 the higher established
as the 0.94 times rather than in year 2009 and 2008 based on
un-consolidated financial statements.
ii. The debt ratio is maximized at 2008 somewhat variation in
2009 and 2010.
iii. The Debt ratio as calculated in year 2008 is better than 2010
because of its total assets effect.
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8. Debt / Equity Ratio
v. Ratio Formula:
Total Liabilities
Equity
vi. Calculation:
This ratio indicates the percentage of debt to equity ratio of bank in year 2008
shows.
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i. The Debt to equity ratio depicts that in year 2008 the higher
established as the 13.28 times rather than in year 2009 and
2008 based on un-consolidated financial statements.
ii. The Debt to equity ratio is maximized at 2008 somewhat
variation in 2009 and 2010.
iii. The Debt to equity ratio as calculated in year 2008 is better
than 2010 because of its total equity effect.
i. Ratio Formula:
ii. Calculation:
i. Working:
In year 2010,
In year 2009,
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In year 2008,
This ratio indicates the percentage of times interest earned ratio of bank in
year 2009 shows.
i. The times interest earned ratio depicts that in year 2009 the
higher established as the 2.09 times rather than in year 2008
and 2010 based on un-consolidated financial statements.
ii. The times interest earned ratio is maximized at 2009
somewhat variation in 2008 and 2010.
iii. The Debt to equity ratio as calculated in year 2009 is better
than 2008 because of its interest expense.
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10.Advances / Deposits Ratio
i. Ratio Formula:
Advances x 100
Deposits
ii. Calculation:
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As ratio is going higher and higher as compare to previous years which
explains that. The advances to deposits ratio in its operation in Year 2008
and Year 2010 was slow; however it is double in Year 2009.
i. Ratio Formula:
ii. Calculation:
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iv. Interpretation of Ratio:
This ratio indicates the percentage of net profit to the Mark-up earned and
expensed and the Banks overall profitability. The above graph shows that in
the year 2009 the net profit in relation to the Interest earned is highly
increased due to an unusual increase in the other income. On the other hand,
the net profit in the year 2010 and 2008 has been decreased as compare to the
year 2009.
i. Ratio Formula:
Dividend Paid
Number of bonus shares in issue
ii. Calculation:
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iv. Interpretation of Ratio:
This ratio indicates the percentage of earning per share is much low in 2009
while on the other hand bit increased in 2008 and remained excellent in 2010.
v. Ratio Formula:
vi. Calculation:
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vii. Graphical Representation:
This ratio indicates the percentage of earning per share is much low in 2009
while on the other hand bit increased in 2008 and remained excellent in 2010.
x. Calculation:
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xi. Graphical Representation:
This ratio indicates the percentage of price to earning per share is much low in
2008 while on the other hand bit increased in 2010 and remained excellent in
2009.
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The macroeconomic outlook remains vulnerable on account of inflationary pressures, difficult
fiscal management and uncertainty attached with the global outlook. Meanwhile, severe energy
shortage is expected to impact the overall industrial output and economic activity. The
borrowers repayment capacity is likely to remain stressed under these challenging times,
thereby leading to risk of further rise in NPLs. Your Bank being watchful of the given
environment would continue with its strategy of cautious lending by deploying resources in
selected avenues following stringent risk management policies. Meanwhile, focus would remain
on improving the mix of cost effective core deposits and optimizing cost efficiencies. The
cornerstone of Your Banks philosophy would remain on improving service quality standards
and providing state of the art banking services through leveraging technology.
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After doing this internship I acquired partially the skills of analyzing & observing the system &
It was really an excellent experience for me as it polishes my analytical skills & enhances my
I learn how to deal with customers and your behaviour must be cooperative towards customer.
How to behaves to your peers and help your peers if any one has some difficulty.
Now I think that I can work more effectively & efficiently in a group/team with the ability to
During my internship training at ABL Dubai chowk branch, I have learned a lot. It was a geed
experience for me. In Decembe3, 1942, the, ABL became the first Pakistans Muslim bank. After
privatization, the profitability and performance of the bank has increased. Today ABL represents
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Allied Bank was first Muslim bank to be established on Pakistan soil in December 1942 and
serving towards the financial and economic progress of the country. Allied Bank is the one of the
largest and prominent bank of Pakistan. Allied Bank is providing with its customers with value,
quality and distinctive level of service and high ethical standards in all dealings with them. But
there is always need for improvement and need to identify any lacking if they are present. Here
some of these identified by me are stated.
As compared to other competitions of Allied Bank its deposits and advances percentage
is less so there is a desperate need that to adopt such policies that will help to increase
these deposits and advances attract more and more customers by winning their
confidence.
There is a desperate need for Human Resource Development by hiring professionals and
competent persons and training the existing force. It will contribute a lot more in progress
of bank.
All these three segments should be run separately by the competent persons to enhance
performance and quality of work.
Although ATM and online banking is started in accordance with banks branch network
not even half of its branches are equipped with these facilities so need to modernize
whole bank to attract more customers.
There is also need to provide facility of car financing. In housing and car finance the
bank has edge over the newly established private banks having large network of branches
all over the Pakistan and if they enter in to this segment of market they can earn a lot.
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All of the references and sources from where the data gathered for this report are mentioned
herewith for your kind concern
Web Links:
http://www.abl.com/thebank/financials.asp
http://www.abl.com/thebank/pdf/annual_report_2010/Annual_Report_2010.pdf
http://www.abl.com/thebank/pdf/annual_report08/abl-annual-report-2008.pdf
http://www.abl.com/thebank/pdf/annual_report_2009/complete_annual_report/annual
_report09.pdf
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