(SINDH AGRICULTURE UNIVERSITY TANDOJAM) (SUMMIT BANK LIMITED).

 INTERNSHIP REPORT.

 NAME OF INTERNEE: ABDUL WAHEED WADHO.

 EMAIL: wwaheed1993@gmail.com

 CONTACT: +923083393185

 REG NO: 2K12-SS-21.

 DEPARTMENT: AGRICULTURAL ECONOMICS.

 FACULTY: AGRICULTURAL SOCIAL SCIENCE.

 UNIVERSITY: SINDH AGRICULTURE UNIVERSITY

TANDOJAM.
 INTERNSHIP IN: SUMMIT BANK LIMITED.

 BRANCH LOCATION: SUMMIT BANK LIMITED SHAHDADKOT

 BRANCH CODE: 1-13-7

 INTERNSHIP PERIOD: SIX WEEKS

1
  TABLE OF CONTENTS.
1) Dedication _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 5
2) Acknowledments _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 6
3) Introduction Of Summit Bank _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 7
 Orientation On Bank & Overall Branch Operations:
4) Cash Management _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 12
5) Introduction To Bank’s products & Services _ _ _ _ _ _ _ _ _ _ _ _ 13
6) Dolmen Loyalty Card _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 18
7) Rupee Traveler Cheques _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 19
8) Call Deposit Receipt _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 20
9) Customer Accounts & Account Opening _ _ _ _ _ _ _ _ _ _ _ _ _ _ 21
10)Cheque Clearing _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 23
11) Funds Transfer _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 24
12)Home Remittance _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 25
13)Term Deposit Receipts _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 26
14)ATM Operations _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 27
15)Locker Operations _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 28
16)Miscellaneous _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 29
17)Basic Knowledge Of Trade Finance _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 30
18)Basic Knowledge Of Credit _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 31
 Conclusion:
19)Internship Experience _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 32
20)General Observations about the Banking Industry _ _ _ _ _ _ _ _ _ 33
21)Recommendations _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 34

2
3
  IN THE NAME OF ALLAH, THE MOST GRACIOUS AND
MERCIFUL, THE BENEFICENT.

First of all I am thankful to Allah who blessed me the potential and ability to accomplish
this project. Then I deem it a great honor and privilege to record sense for gratitude to
the respected teacher for the construction and exuberant stage of teaching. I great fully
acknowledge the encouragement, support receive from them. The interest,
commitment, patience and valuable advices given by them remained a source of
inspiration and motivation throughout the process of project.

4
  DEDICATION.

 My Beloved Parents:

I dedicate this little effort to our loving parents. I don’t have any word to thank them, for me
this would not have been possible without their love and support to complete this project. I
love you a lot. Thanks for everything.

 My Very Special Respected Teachers:

I also dedicate my work to my respected teachers because without their guide line, advice
and support me couldn’t imagine for the completion of this internship report.

 My Very Special Friends:

I also wish to dedicate my work to my friends because they morally supported me and they
also provide me the assistance in collection of data from different sources. And I personally
think that without their support I’m nothing else.

5
  ACKNOWLEDGEMENTS.

Importantly, I would like to express with my heart and soul to ALMIGHTY ALLAH and my
beloved Parents and honorable Teachers for their blessings, for the successful
completion of this internship report.

I take immense pleasure in thanking,

SYED MUNAWAR ALI SHAH (VP/AREA MANAGER)
MR. DHANI BUX SOOMRO (BRANCH MANAGER)
MR. IMRAN KHAN SHAIKH (BRANCH ORERATION MANAGER)
MR. BAKIR ALI SHAH (CSO)
MR. BABAR ALI SHAIKH (CSO)
MR. IMTIAZ ALI SOOMRO (HEAD TELLER)
MR. NISAR ALI DAYO (TELLER)
MR. SAEED AHMED MASTOI (BDO)

They helped me and inspired me to do this internship report work.

I wish to express my deep sense of gratitude to all the staff of SUMMIT BANK LTD
SHAHDADKOT PAKISTAN, for their able guidance and lot of cooperation, which
helped me in completion of this internship report work.

ABDUL WAHEED WADHO

2K12-SS-21

Sindh Agriculture University

Tandojam

6
 01: INTRODUCTION OF SUMMIT BANK:
Summit Bank LTD is actually a merger of three banks; Arif Habib Bank, Atlas Bank and
My Bank, supported by Suroor Group Investments. Suroor Group is an Arab Investment
Company. It is one of the fastest growing commercial banks of Pakistan with a network
of 165 branches spread over the country i.e. Sindh, Punjab, Khyber Pakhtunkhwa,
Balochistan. And now the Summit Bank have a network of over 188 branches across
the Pakistan. Summit Bank LTD believes in providing not only the products but the
solutions to the customers’ financial problems. They believe in creating strong
relationships with their customers and providing them with the best possible services. It
is said that actions speak louder than words. Summit Bank LTD has proved it. They
have a toll free number (0800-24365) that works 24/7 to answer customer complaints
and queries.

The company has the privilege of providing brokerage services to state enterprises,
mutual funds, commercial banks, NBFCs and a large number of retail investors. The
main focus of the company is on efficiency in service, integrity and professionalism
which is a prerequisite of local & international client base. The company has been
providing money market brokerage services since 2004 when it has got registered with
the FMA and in this short span of time the company has built up an ability to cater to all
clients' needs may it be placements or borrowings at the most competitive rates.
Furthermore, a regular feedback about all the activities of money market such as
whatever it is...

By acquiring one of the best IT platforms of the world, offering web and SMS based
banking to the customers besides providing superior MIS to the Management; the Bank
is committed to be recognized as a preferred supplier of financial services to the
markets it serves. To achieve these goals, the Bank will strengthen itself in the financial
service industry, leverage optimal mix of technology to attain operating cost efficiencies,
achieve product and service differentiation, while at the same time growing its footprint
through further expansion of its branch network across the country, because we are
committed to you.

7
 1.1 History:
Arif Habib Group is among the most innovative and fastest growing business group in
Pakistan. In addition to financial services (Asset Management, Brokerage Services,
Corporate Finance and Project Advisory, Private Equity and Commercial Bank), the
group has also interest in fertilizer, cement and real estate. This has made possible by a
strong brand franchise built on decades of first-rate services to clients. Managing assets
in excess of PKR 37 billion (US$617 million), the group holds interests in the securities
brokerage, investment and financial advisory, investment management, commercial
banking, commodities, private equity, cement and fertilizer industries. The Group takes
pride in its orientation towards client service. It believes that its key success factors
include continuous investment in staff, systems and capacity building, and its insistence
on universal best practices at all times.

1.2 Vision of Summit Bank:

To be the preferred provider of financial products & services to the markets.

1.3 Mission of Summit Bank:

1) To be a financial institution based on Trust, Integrity, and Good Governance.

2) To deliver financial solutions to our customers.
3) To provide equal opportunities & professional working environment to our
employees.
4) To provide fair return to our shareholders on their investment.
5) To serve the community at large.
6) To discharge corporate social responsibility.

8
1.4. Organizational Structure:

o Board of Directors

1) Mr. Nasser Abdullah Hussain Lootah

Chairman

2) Zahir Ismail

President and CEO

3) Mr. Nasim Beg

Director

4) Mr. Asadullah Khawaja

Director

5) Mr. Farid Uddin

Director

6) Mr. Shehryar Faruque

Director

7) Mr. Muhammad Zahir Esmail

Director

9
o Management Committee:

1) Husain Lawai
President and CEO

2) Muhammad Zahir Esmail

Chief Operating Officer

3) Syed Mohammad Anwar Lutfullah

Group Head IT & Operations, Consumer Banking, Home Remittance and
Corporate Communication

4) Ahsan Raza Durrani

Group Head Corporate & Investment Banking and Capital Market

5) Gulrays Khan
Group Head Human Resource & Administration and Compliance & Control

6) Faisal Shaikha
Head of Treasury & Financial Institution Division
7) Imran Ahmed
Group Head Enterprise Risk Management and Credit Administration

8) Aziz Morris
Head of Internal Audit

9) Muhammad Shakir Abbasi

Head of Islamic Banking

10
10)Muhammad Najeeb Khan
Shariah Advisor – Islamic Banking
11) Syed Imran Hashmi
Acting Chief Financial Officer &
Company Secretary

12)Habib-ur-Rehman
Group Head Special Asset Management & Fraud Management

11
  Orientation On Bank & Overall Branch Operations.

02: Cash Management:

Cash management is the Department where we not only provide the total reconciliation
of the customer’s transaction but also provide the support in any level required to
maintain or increase the liquidity in our Bank. Cash management is the process of Pay–
In and Pay–Out from the account.

12
 03: Introduction To Bank’s products & Services:

 Deposit Products:

These are the products where the customer deposits its money with the bank for
various purposes; either for savings or for safety or for business transactions. SMBL has
properly defined its services for the ease of both new and existing customers.

3.1. Current Account:

One thing which is interesting about this product is that it’s not an ordinary current
account; it’s the Summit Bank Current Account. Summit Bank Current Account is a
convenient and protected way of holding your money in local and foreign currencies.

3.2. PLS Saving Account:

This is the most safe and sound way to keep your savings safe and sound in both local
and foreign currencies. SMBL PLS Savings Account has been designed to provide the
customers with easy access to their money, as well as a higher rate of profit.

3.3. Term Deposits:

Term Deposits are offered by Summit Bank to the following categories of customers:

 Individuals (single or joint)

 Charitable institutions

 Provident fund & other funds of benevolent nature

 Local bodies

 Autonomous corporations

 Limited companies

13
 3.4. Mahana Amdan:

In this account, you can keep your deposit for a certain period of time and get the profit
monthly rather than annually.

Minimum Deposit Amount is Rs. 100,000 up to Rs.20 million

Period of Deposit: 6 months, 1 year, 2 years & 3 Years

Expected Rate of Profit:

Period of Deposit Rate

6 months 11 %

1 year 12.5 %

2 years 13 %

3 years 13 %

3.5. Daily Product Account:

This is the easiest way to earn profit on your savings. This is a unique account where
the interest is calculated on the account holder’s daily closing balance. So you start
earning interest as soon as you make your initial deposit. The total interest amount is
then credited to your account at the end of the month.

14
 3.6. Hamara Summit Family Savings Account:

As a trend setter, Summit Bank has brought a solution to assure parents of their
commitment to the children. Fostering the existing bond and to better serve the financial
needs, Summit Bank has come up with the ‘Summit Family Savings Account’ - a unique
savings account offering superior returns and a host of free services. This account
serves the entire family. It offers an attractive return up to 10%. Maximum number of
family members who can open this account is five. Free VISA Debit Cards for all those
five members will be issued. Monthly profit is credited to the account.

3.7. Summit Advantage Account:

This is the recent launch of Summit Bank. It’s a very unique and helpful account. It
offers a financing facility on term deposit account. As per rule, when you keep a term
deposit with the bank you are not allowed to withdraw your amount before the maturity
time and if you do so you will be charged a pre-encashment penalty. But Summit
Advantage Account is a solution to this problem. You can keep a term deposit of
minimum Rs. 100, 000/- with the bank with the return rate of 11.5% p.a. Summit Bank
then offers you 70% financing facility on that deposit amount again at the rate of 11.5%.
This makes your financing absolutely free!

This unique offer is for those who want to conserve their savings but still want to avail a
convenient financing facility to manage periodic cash flow needs.

3.8. Summit Classic Current Account:

Rewarding you with unparalleled banking privileges, Summit Classic Current Account
now offers you benefits of Health Insurance and Hospitalization coverage to make your
present healthy and future secure.

15
 3.9. Young Bee Account:

The young bee account is a magical world of saving with many adventures waiting for
you! We are here to make your life adventurous and fun! Now you can save money to
dine and shop with your friends by using your Young Bee Debit Card.

3.10. Summit Senior Citizen Account:

Summit Senior Citizen Account designed for Senior Citizens (60 years and above) to
empower Senior Citizen to open and operate the Bank account transactions with
highest level of services provided by the Bank to their fullest satisfaction with healthy
return. Summit Senior Citizen Account comes along with a wide range of free services
and benefits in addition to attractive profit rate.

3.11. Summit Asaan Account:

Summit Asaan account makes banking easy and accessible for everyone. All you need
is just your CNIC to start availing the benefits of Asaan Current or Asaan Savings
Account with its unique features with convenience.
Summit Asaan Account is designed for people from all walks of life, specifically for
people who have not yet experience the world of hassle free banking.

3.12. Daily Savings Account:

Daily Savings Account (DSA) is an investment-cum-transactional account. The product
is designed for those customers who have high day-end balances on a particular day
while low on others and wish to get rewarded for their high days. The money can be
deposited and withdrawn at will with or without notice viz a viz through Cheque / ATM/
Debit Card / Electronic means (Net Banking etc.) or through written instructions.

16
 3.13. Business Account:
Businesses tend to enjoy flexibility while remaining cost effective. Business Account
(BA) offers flexibility of a conventional current account including unlimited transactions
option and offers value added services in a Shariah complaint manner. Additionally
customers are entitled to a share of distributable profit as per assigned weightages.

 Who Can Participate?

Account may be opened in the name of persons and bodies mentioned below upon
being properly introduced in a manner approved by the Bank (provided that their source
of income is not received from any prohibited source as per the Shariah principles):
1. Individuals
2. Sole Proprietorship concerns
3. Partnership Firms
4. Limited Companies (Private & Public)
5. Trust

17
 04: Dolmen Loyalty Card:
Summit Bank proudly announces the launch of its new product in Karachi City!
Pakistan’s very first unique co-branded debit card; “Dolmen Loyalty Card”
Summit Bank & Dolmen Group together brings you a World Class Shopping experience.
This card welcomes you at Dolmen Mall with fascinating discounts while you shop at
your favorite outlet of apparel, footwear, fragrances, home accessories or dine-in at your
choice of restaurant or at food court.

 Benefits.

1. Discount: You can enjoy lucrative discount offered by selected merchants

located at Dolmen Mall.

2. Reward Points: For every Rs. 50 you spend, you can earn one (1) reward point
which is redeemable at all selected merchants.

18
 05: Rupee Traveler Cheques:
Summit Bank’s Rupee Traveler Cheques enable you to travel with complete peace of
mind!
Summit Bank’s Rupee Traveler Cheques provide a safe and secure solution that act as
an alternative to carrying cash for travel and everyday use. These Cheques are
currently available in the Rs. 10,000 denomination and can be issued to individual PKR
account holders of Summit Bank. You can encash your Traveler Cheques through any
Summit Bank branch across Pakistan.

19
 06: Call Deposit Receipt:
Call Deposit Receipt is a form of non-profit bearing guarantee certificate issued to
Government & Semi-Government Institutions, Corporations and Semi-Autonomous
Bodies as a security deposit in favor of any tender. The beneficiary can at any time
deposit the CDR in their account. Summit Bank facilitates all customers to avail this
service without having an account with the bank.

20
 07: Customer Accounts & Account Opening.

7.1. Banker Customer Relationship:

The relation between Banker and Customer is very important. It generally studied under
the following two heads which is given bellow.
1. General Relationship.
2. Special Relationship.

7.2 Types Of Accounts:

1) Current Account

2) PLS Saving Account

3) Term Deposits

4) Mahana Amdan

5) Daily Product Account

6) Hamara Summit Family Savings Account

7) Summit Advantage Account

8) Summit Classic Current Account

9) Young Bee Account

10) Summit Senior Citizen Account

11) Summit Asaan Account

12) Daily Savings Account

13) Business Account

21
 7.3. Customer Due Diligence:
It means to define a categories about the customer and verified it.

7.4. Account Opening Forms:

It means that which category of account opened by the customer and show details
about the customer.

7.5. Account Opening Documents:

Which documents that related with the account opening process, just like customer’s
CNIC, business proof, Utility Bill, etc. And some documents at the end of account
opening form just like a EDD, CDD, CRP, KYC, FATCA, NADRA Verisys, and Biometric.

7.6. Processing Of Account opening:

In the processing of account first of all we fill the all information of customer which is
related to account opening requirements and then scan than upload at the internet and
sent to the operation Manager and finally manager send to (CPU) central processing
unit.

7.7. Issuance Of Cheque Books:

Initially cheque book is issued to customer after around seven to 14 days of account
opening. Every cheque book contains requisition slip. When all leaves of a cheque book
are used, then customer is required to fill this requisition slip to request for new cheque
book. Rs. 5 are charged for each cheque leave. And if cheque book contains 100
leaves, then customer account is debited by Rs. 500.

08: Cheque Clearing.

22
There are two types of clearing cheque which are given bellow.

1. In wart cheque:
The cheque which is belongs from same Bank but customers are different.

2. Out wart cheque:

The cheque which is belongs fro other networks I mean other banks.

09: Funds Transfer.

23
Actually two types of funds transfer which are given bellow.

1. Inter Bank Funds Transfer:

In this type of funds transfer networks or Banks are same but their branches are
different.

2. ATM funds Transfer:

Through ATM funds transfer we can transfer money to same network or same
Bank but branches are different and also we can transfer funds to other networks
or other Bank.

10: Home Remittance.

24
Summit Bank has designed and developed its own electronic interface by the name of
‘Amanat Cash’ to facilitate various exchange companies and banks to send home
remittance to Pakistan on real time basis. This has made possible for all the Pakistanis
to receive remittances by their loved ones for FREE, in fast and fully secured manner.
The service we offer is readily available to everyone regardless of having account in
Summit Bank.
It also has the services of other remittance companies like Western Union and Xpress
Money. An electronic invoice is generated and then the payment is made by showing
that receipt at the counter.

11: Term Deposit Receipts.

25
A deposit instrument most commonly available from chartered banks requiring a
minimum investment at a predetermined rate of interest for a stated term. The interest
rate varies according to the amount invested and the term to maturity, but is competitive
with comparable alternative investments. A reduced interest rate usually applies if funds
are withdrawn prior to maturity.

11.1. Encashment of TDRs:

For the encashment of TDRs first off all customer maintain their account and than
customer are agree for TDR for the week for the month or for the year than then we
deal with customer and tell them how much interest rate you earned for this time
duration for example 8% and if you come back after some time for the return of cash
than we are willing to pay your cash but now the interest rate you earned 4% because
your agreement is uncompleted.
So this is encashment of TDRs nothing more.

12: ATM Operations:

26
 1. Debit Cash.
If you are using same banks ATM for debit cash than you do not pay any charges but if
you are using any other banks ATM than charges will be deducted from you account.

2. Funds Transfer.
You can use ATM of same bank only for funds transfer through the ATM and no matter if
branch is different.

3. Utility Bills payment.

You can pay the all utility bills through the ATM of same bank from any branch.

4. Balance Inquiry.
For the balance inquiry you can use ATM of all banks and their all baranches from any
city where ATM service is available.

13: Locker Operations.

27
The locker operation is basically divided in four types and commonly three types of
locker are available in all branches and the fourth locker is available in head offices or in
big branches of the banks.
fees of the lockers will be payable in advance & key deposit charges refund at the
surrender time.

Type of Locker Insurance Limit per Locker (Rs.)

1. Small PKR 500,000/-
2. Medium PKR 1,000,000/-
3. Large PKR 1,500,000/-
4. Extra Large PKR 2,000,000/-

14: Miscellaneous.
28
 1) Zakat Forms:
Basically zakat has been deducted from that customer which opened saving account in
the bank and we collect the forms of zakat in the month of shah ban and zakat will be
deducted in the month of Ramadan.
Two types of customers do not paid zakat.
1) Non-Muslim 2) Shia

2) Dormant Accounts:
Accounts which are not in use for 12 months are considered as dormant accounts.
Credit transactions are allowed in such accounts, but no debit transactions are allowed.

3) Transaction Monitoring:
For example we are going open Assan Account of the customer and the limit of this
account is 25 thousands per day and incase in the account of same customer in our
branch cheque of one lac rupees debited in a day so through the KYC we are informed
that by the head office that why the cheque of one lac rupees debited in this account
because this customer is not available for this transaction.
so this is Transaction Monitoring.

15: Basic Knowledge Of Trade Finance.

29
Trade Finance being the prime focus of our Management, we offer wide variety of
Funded and Non-Funded Trade related facilities such as:

1) Imports: Letter of Credits, Documentary Collection, Registration of Import

Contracts, Advance Payments, Finance against Imported Materials,

2) Exports: Negotiation, Discounting, Documentary Collection, Finance against

Foreign Bills, Finance against FE-25, Export Refinance Facilities through State
Bank of Pakistan etc.

3) Bank Guarantees: All kinds of Local as well as Foreign Guarantees.

4) Local Trade: Inland Letter of Credits, Back to Back Letter of Credits, Local Bill
Discounting etc.

5) Risk Participation: Risk Participation in trade finance transactions mainly includes

Import LCs Export LCs and Guarantees.

The blend of Summit Bank’s specially designed Trade products with a team of trade
staff having ample experience & expertise in their specialized areas of trade finance,
add great value to the customers’ interest in terms of improved trade cycles, enhanced
management of cash flow and greater flexibility.

30
 16: Basic Knowledge Of Credit.
A contractual agreement in which a borrower receives something of value now
and agrees to repay the lender at some later date. When
a consumer purchases something using a credit card, they are buying on credit
(receiving the item at that time, and paying back the credit card company month by
month)

16.1. Preparation Of Credit Proposal:

A proposal may function in at least three ways which are given bellow.
1. As a means of communications.
2. As a plan.
3. As a contract.

31
  Conclusion.

 My Learning:

I have completed my internship at Summit Bank (Shahdadkot Branch). I have done Six
weeks internship. At that time I tried my bests to learn and gain a practical experience.

 Internship Experience:

In these six weeks of internship, every day brought me to a different learning

experience. At branch, I gained knowledge about Bank and Bank’s all Products and
services very carefully. The skills a branch banker should have are vigilance,
activeness, patient, inter-personal communication and ability to work under pressure.
You have to be accountable for every action that you do. In branch, I learnt to follow
systems as in, how to open an account, how to pay the bill, how to clear an outstanding
cheque, how to open a locker account, how to generate the remittance invoice, etc. My
approach was to learn ideas! Ideas for instance how to probe the needs of the
customer, who comes to collect his remittance, to open an account in the bank or to buy
a policy of insurance or idea of how to make the customer’s experience more favorable
when he visits the bank, etc.

Being a student of Agricultural (ECONOMICS), I’ve studied Farm Planning &

Management, Agricultural Finance, Marketing, International Trade, Financial
Mathematics, Micro & Macro Economics, and I think this internship has brought me to a
point where I can say that I have seen the corporate world. I started from scratch and
now after these six weeks, I have unlocked many doors of opportunities for me.

32
  General Observations about the Banking Industry:

I’ve studied a lot about banking and money market but seeing and experiencing it by
myself was actually good. It provides the same solutions. Current account? Every bank
has. Monthly Profit Payment? Every bank offers. There’s no differentiation. What
differentiates a bank is its strategy, its marketing campaign, its communication.

Also, ‘customer satisfaction’ should be the major focus for every bank. Connect with
your customers as if they are the only one. Like every industry, banks have a lot of
opportunities to expand as well, for example the association of a bank with an insurance
company! It’s an opportunity for both the parties, one platform where the buyers and
sellers meet. Similarly, people who come for remittance can be convinced to open an
account or use the facility of lockers.

Cutting long story into short, banks are necessary for the economy. The competition is
tough. State Bank’s rules & regulations are becoming critical day by day. Meeting the
Minimum Capital Requirement has caused many banks to merge or shut down. Hence,
survival has become difficult.

33
  RECOMMENDATIONS:

Summit Bank is providing valuable services to the nation. However, it is new in the
Banking sector, and to compete with the Big Banks, it needs to address issues of the
employees as mentioned above, because these are employees who will play their role
in the success of Summit Bank. Without effective and sincere efforts of the employees,
it will become impossible for summit Bank to survive in this highly competitive market.
Hence, following steps may help summit Bank to make progress in this industry.

1. Right people for the right job.

2. Competitive salaries and bonuses.
3. Less timing for the employees to reduced tensions and increase social life etc.
4. Low decision making ability in the lower level staff etc…

34