{United Bank Limited (UBL)}

By:
Faiza Asad

S171BBAH055

FACULTY OF MANAGEMENT SCIENCES

FOUNDATION UNIVERSITY ISLAMABAD, RAWALPINDI CAMPUS

8th, B (Fall 2020)

{2020-12-28}

[Faiza Asad][S171BBAH055][BBA] Internship Report

 TABLE OF CONTENTS

EXECUTIVE SUMMARY......................................................................................................3
CHAPTER ONE: ORGANIZATION OVERVIEW ...........................................................4
1. BRIEF DESCRIPTION OF THE ORGANIZATION...............................................................4
1.1. Organization Products/ Services................................................................5
1.2. Organizational design ................................................................................5
CHAPTER TWO: DESCRIPTION OF DUTIES.................................................................7
CHAPTER THREE: RECOMMENDATIONS .................................................................13
CHAPTER FOUR: LEARNING OUTCOMES .................................................................14
REFERENCES/BIBLIOGRAPHY......................................................................................16
ANNEXURE...........................................................................................................................17

[Faiza Asad][S171BBAH055][BBA] Internship Report

 Executive Summary

Internship program is very compulsory for the regular students and necessary for the completion of the
degree. The experience that I gain from this is very helpful for me. I select United Bank Limited for the
internship. This report consists of the detail about United Bank and my main purpose is to share my
practical experience of professional life. In this report I contain detailed introduction and history of the
bank. The main product it is offering to its customers and describes the nature of organization in this
report. This report show the business volume and successive stories of the United bank .It gives view
about that what role bank play toward economic development and shows the total workforce of the
United bank in Pakistan. In this report I give detail introduction about the departments of the bank and
define their major functions. I worked for six week in United Bank Limited and during this time period
I worked in clearing department, accounts department, foreign currency department and remittances
department the most. The task I performed there and the duties that were assigned to me has given in
detail in the section two given below and I also highlight the staff of the branch, mention the name of
supervisor who guide me during performing work. Internship program provide me an opportunity to
experience practical life which help me in my professional life in future. It was great experience for me
in this organization. During my internship I saw the potential of bank for success and it’s moving
toward stability but there are some weaknesses that work as a hurdle in achieving their objective. I also
give some recommendations at the end of report if they consider these issues and overcome their
weaknesses; they will achieve the new way of success.

[Faiza Asad][S171BBAH055][BBA] Internship Report

CHAPTER ONE: ORGANIZATION OVERVIEW

1 Brief description of the organization:

 History:

Agha Hassan Abedi founded the bank in 1959 and beneath his leadership; it became the second largest
bank in Islamic Republic of Pakistan. In 1974, the Pakistani Government nationalized the bank. This,
in turn, guides to Agha Hasan Abedi institution the BCCI.

In 2002, the Government of Pakistan oversubscribed fifty one p.c shares of the bank to a pool to
international group. Also, the bank united its operations within the United Kingdom of Great Britain
and Northern Ireland with that happiness to NBP to type united full service bank Limited. United Bank
owns 55% of the joint-venture and full service bank of Pakistan owns the remainder.

In 2014, the government sold-off its remaining 19.8 p.c shares within the bank for $387 million
($310m of that was in foreign exchange).

 Company’s existence:
United Bank Limited (UBL) is a Pakistani multinational commercial bank which may be a subsidiary
of British company Bestway Group. It's based mostly in Karachi, Pakistan. It's one in every of the most
important banks within the Pakistani non-public sector, with over 1,400 branches across Pakistan,
nineteen branches overseas, and a client base marked four million.

 Competitors:
Top competitors of UBL are:
 National bank of Pakistan.
 Bank of Khyber.
 MCB bank.
 Allied bank.
 Askari bank.

[Faiza Asad][S171BBAH055][BBA] Internship Report

  Bank Islami Pakistan.

1.1 Organization Products/ Services

In banking services UBL provides variety of services. These services embrace client banking,
merchandiser banking and company banking. Like:

 General deposits

 Current deposits

 Saving deposits

 Fixed deposits

 Uni cash

 UBL Wallet visa card

 UBL Ameen Islamic Banking

 Account opening

 Financial services

 Lockers

 Bancassurance

 Net banking, government securities and many more.

1.2 Organizational design

 Departmentalization:
UBL like other commercial banks established various departments for the performance of various
functions. Some of the departments of UBL are:

[Faiza Asad][S171BBAH055][BBA] Internship Report

 Foreign
Clearing Deposit
exhange
Department department
department

Account Advance
Remittances
Department department

 Chain of command within departments, with respect to span of control and work
specialization:

[Faiza Asad][S171BBAH055][BBA] Internship Report

 president

group
executives

group heads

general
managers

GM
GM operations
sales

regional
regional
operations
business head
head

disrict
district
operation
manager sales
manager

branch branch
operation
manager manger

operation relationship bancassurance

teller chief teller
officer manager staff

[Faiza Asad][S171BBAH055][BBA] Internship Report

CHAPTER TWO: DESCRIPTION OF DUTIES
 Job title: Internee
 Name of Departments & time duration where I got training:
Name of department Duration
Clearing department 2 weeks
Accounts department 1.5 week
Deposits department 1.5 week
Foreign currency 1 week

 Description of department’s work that I learn and did during internship:

All the knowledge I acquire from my internship in United Bank is new to me, I never done
internship before this. During my internship at United bank I experienced and learn a lot of
things, I worked in many departments and watched all the daily transactions, procedures and
rules of working and also participate in performing those tasks. I visited and worked in many
departments of bank but my experience in Clearing department and deposits department is
the most valuable. I also perform my duty of operating photocopy machine, fax machine and
also did the scanning of cheques and NIC photo copy for the purpose of supervision of
Cheques for payment, the purpose of this supervision is to verify the signature and third party
confirmation.

I performed different duties that were assigned to me throughout the internship. Duties that I
performed during my time period of internship are related to different departments. I
performed my duties in departments like:

1. CLEARING DEPARTMENT:

clearing

OBC IBC

[Faiza Asad][S171BBAH055][BBA] Internship Report

  OBC (Outward Bills for Collection)
In the clearing department there are further two divisions. One is OBC it involves in outward bills for
collection. The main functions of this department are:

 To collect the all the cheques of related to other stations except of Rawalpindi.
 Posting of those cheques.

 IBC (Iutward Bills for Collection)

In the clearing department there are further two divisions. One is IBC it involves in iutward bills for
collection. The main functions of this department are:

 To collect the all the cheques of related to other stations except of Rawalpindi.
 Posting of those cheques.
 Give Credit advices to different branches that are part of NIFT.
 Post the intercity credit advices.
At my very first day of internship I perform the task of stamping of cheques (Local cheques) that are
related to IBC. I learned that how cheques are collected from the cashiers and send I to the clearing
departments. I also record the entries of collected cheques in register of IBC it include information
regarding the Account number that mention on the credit slip of the cheque and cheque number written
on top of cheque and the amount of cheque .

Stamping of Local currency cheques:

When cheque is forward to clearing department they transfer the amount of cheque to particular
account that mentioned and after completing the task done all the posting of cheques. After that
supervise the cheques from in charge of banking and then stamped those cheques. There are three
stamps on cheque.

 Transfer Stamp
 Payee’s account credited and signature verification
 Branch stamp
Cheque Return Memorandum:

[Faiza Asad][S171BBAH055][BBA] Internship Report

I also prepare the cheque return memo’s .This memorandum is prepare for the cheques that are rejected
and of those payment is stopped. There are many reasons behind this. This memorandum is attached
with the cheque and then sends it back.

Posting of inter-city cheques:

It include posting of the inter-city cheques collected from all other branches excepts Rawalpindi. These
cheques are posted on the pc and then record their entry and after posting detach the cheque and credit
slip and cheque posted and slip maintain as a record. This process is called” logg.”

2. ACCOUNT DEPARTMENT:
In account department I spend 1.5 week in which I learned about different types of accounts that UBL
holds and accept deposits for them. This account mange the all transaction the done in daily routine
collect all cheques that transfer and receive on daily basis and keep their record, collect ID’s of
employees on daily basis and maintain record of their daily work, prepare salaries for the staff,
formulate all accounts related statements and budgeting functions also performed by them.

3. DEPOSIT DEPARTMENT:
This department deals with general banking function and areas that comes under this department are:

o Account opening
o Issuance of cheque book
o ATM card
o I/NET Banking

Account opening and cheque book details:

In this department I worked for 1.5 week and I learn about account opening form for individual and
corporate and comes to know how t fill it, what are the major requirements for the account opening
procedure, how bank verify the customer information .Here I learned about the issuance of cheque
book how to issue when new account is opened and how issued when previous one is finished. Cheque
book for corporate is of 100 cheques on them cheque number is mentioned. Before it finished there is a
slip come at end of cheque book usually before 4, 5 cheques it aware customer that he/she should apply

[Faiza Asad][S171BBAH055][BBA] Internship Report

for new cheque book. For individual users cheque book consist of 10 -25 cheques. And requirements
for both individual account and corporate account are separate.

4. FOREIGN CURENCY DEPARTMENT:

Foreign currency (FC) department deals with all the transaction that done except PKR and the currency
in which they deals are Dollar, pounds and Euro’s. In this I come to know that how account for foreign
currency is opened, what are the requirements of the opening of FC account. How to done scanning of
the forms for new account opening and how to fill it which stamps are placed on it and where.

Dormat Re-activation:

I also learned about the account doormat re-activation in which after six months account of customer is
freeze in which only amount can come but customer can’t withdraw the amount. For this re-activation
there is whole process I performed:

 Initially give customer a form and attaché NIC photo copy with it.
 Fill the form .
 Then scan the ID card and made verisys of the NIC and then print this verisys. It’s basically for
the verification of the NIC of customer.
 The particular verisys is attached with form.
 After attaching verisys placed stamps on it .There are three stamps used for this purpose:
 ORIGNAL SEEN Stamp: Placed on the ID card.
 SIGNATURE VERIFIED Stamp: it placed on the signature of customer.
 BRANCH STAMP: place on the verisys.
 Finally form and verisys verify by employee who deal with it and at last step signed by
Manager Operations.

T.T Register Entries:

This register is the record maintain regarding all the FC related transactions. T.T (Telegraphic Transfer)
the entries of this register involve:

 Name of beneficiary who received amount and his/her Account number that he/she hold with
UBL.
 Name of the institution with whom account is in abroad , it contain name of bank and

[Faiza Asad][S171BBAH055][BBA] Internship Report

 SWIFT/Routing code.
 Then mention the reason for remittance like personal saving, fees and for expense etc.
 Amount that is transferred mentioned in particular currency in which it is transferred and also
mentioned in PKR according to the dollar rate at that day.
 At the end mention the name of person who is sending amount and his/her account number is
also mentioned.

 Weekly Timetable of My duties:

Date Name of Activity

Department
Week 1
25-06-2018 Clearing Department Stamping of cheques
26-06-2018 Clearing Department Stamping of cheques
27-06-2018 Clearing Department Inter-city clearing
28-06-2108 Clearing Department Inter-city clearing
29-06-2018 Clearing Department Stamping of cheques,
entries of cheques
Week 2
2-07-2018 Clearing Department Posting of cheques
3-07-2018 Clearing Department Inter-city clearing,
stamping and entries
of cheques
4-07-2018 Clearing Department Inter-city clearing
5-07-2018 Clearing Department Stamping of cheques
and entries of
cheques
6-07-2018 Clearing Department IBCA’s and
stamping of cheques
and scanning of
cheques for
verification
Week 3
9-07-2018 Account Department Sorting of cheques

[Faiza Asad][S171BBAH055][BBA] Internship Report

 10-07-2018 Account Department Sorting of cheques
11-07-2018 Account Department Sorting of cheques
12-07-2018 Account Department Receipt collection of
different type of
accounts cheques
13-07-2018 Account Department Transferred
transaction
confirmation
Week 4
16-07-2018 Account Department Sorting of cheques
17-07-2018 Account Sorting of cheques
Department
18-07-2018 Deposits How to open
Department accounts

19-07-2018 Deposits How to open

Department accounts

20-07-2018 Deposits How to issue cheque

Department book

Week 5
23-07-2018 Deposits Department ATM card opening
Maintain all files
record of month
24-07-2018 Deposits department Stamping on
instruments
25-07-2018 Deposits Maintain all files
department record of month
26-10-2014 Deposits Maintain all files
Department record of month
27-07-2018 Deposits department Maintain all files
record of month
Week 6
30-07-2018 Foreign currency Dormat reactivation
31-07-2018 Foreign currency Dormat reactivation

[Faiza Asad][S171BBAH055][BBA] Internship Report

 01-08-2018 Foreign currrency Prepare T.T register
of week transactions
02-08-2018 Foreign currency Dormat reactivation
03-08-2018 Foreign currency Dormat reactivation
CHAPTER THREE: RECOMMENDATIONS
 SWOT ANALYSIS

“SWOT” Analysis is a mirror to the bank of its present condition. From this analysis we can conclude
that the bank has done some professional changes in its banking system.

 Strengths:

Some of the strengths are: Having reputation for high customer banking services, 3 rd largest bank of
Pakistan, easy access to branch locality, large network.

 Weaknesses:

Some of the weaknesses are: Political inter presence, inefficient system of recruiting and selecting of
personnel.

 Opportunities:

Have greater opportunity levels like: Deployment of sophisticated technology in offices and branches,
Increase the serving customer group, Due to efficient and experienced management group, UBL can
improve and expand its foreign operations successfully, Enter new markets, Increase product line to
serve large range of customer needs.

 Threats:

Some of the threats are: enlarged the amount of recent native and foreign banks, little economy rated
within the country, Economic decline in the country, moderate virtuous of employees, government
intervention in the affairs of the bank.

Recommendations:

 The management will develop elaborate strategy planes for capitalization the accessible
opportunities.

[Faiza Asad][S171BBAH055][BBA] Internship Report

  One space wherever the bank ought to done some work is that the improvement in client
services.

 The bank should maintain principle of skilled management and cling the sound and complex
banking rules and laws so as to make confidence of individuals within the institution.

 Those who deposit giant amounts of cash or are recent customers of the bank should incline free
credit lines up to a particular limit. Besides, money recommendation should be provided to
customers just in case there's a modification in the market trend before they explore for it.
 UBL ought to follow the performance analysis policy strictly and award people who herald
deposits and facilitate it increase its market share. Unfortunately, this has been declared within
the bank’s policy however isn't being implemented.
 It has been noted that the officers taking bills for clearing don't involve themselves abundant
with the opposite operations of the bank and therefore stay on the exact same post and seat
throughout their banking career. this can be against the trendy day policies of organizations
giving their staff conducive, satisfying and equal opportunities of successful and growing with
it. Thus, the Human Resource Department at the top workplace ought to prepare a concept that
shows the long run growth potential of the staff supported their job performance and analysis
and build it glorious to all.
 There should be job rotation of employees particularly during this department because it was
felt that the employees here understand quite less as compared to the others. this can enhance
their capabilities and facilitate them break the monotony creating them realize their work
additional interesting.

CHAPTER FOUR: LEARNING OUTCOMES

One of the most important aims of student’s life is to express him/herself correctly and adequately, with
this belief in mind, I decided to go to United bank to complete my internship program. During my six
weeks of internship I learned a lot, it’s my very first experience I never done internship anywhere
before this. At United Bank Limited I entered in my professional career, get to know about how things
done in practical life those we only studied In books practically experience them and done work by
hand. Come to know what kind of attitude is to adopt at workplace. Meet with different professionals
come to know about their experiences, ask question about their work that they done their work and what
the right way to perform it.

[Faiza Asad][S171BBAH055][BBA] Internship Report

I performed different duties that were assigned to me throughout the internship. Duties that I
performed during my 6 weeks of internship are related to different departments. I performed my duties
in departments like:

 Accounts department
 Account opening/deposits department
 Clearance department
 Foreign currency exchange department
The internship program is very beneficial. It provides me good opportunity to learn new things.
Moreover it teaches me to know that world of study and world of work are completely different.
Unlike studying, working life is not smooth. Often, I faced many problems during working. I found
that there are two valued things that help me to solve problems are “braveness and patience”. Brave to
face and be patient to solve them. All the knowledge I acquired from my internship is new to me,
because I had never done internship before. Internship also improves my communication skills with
different persons in well manner .After six weeks of my internship I can honestly say that I have
learned a great deal about this financial institution itself and I now have a more concrete
understanding of what the job description is for one who works in banks.

Among the many things that I have learned almost in the two months, the most important for me are
the general knowledge that I now have about the field, as well as the tools that I have gained that will
enable me to perform better when working in this field.

Internship activities co-relation with class-room knowledge:

During my six weeks of internship when I worked in different departments including: deposits, foreign
currency, clearing and accounts department I experienced the practical of all the courses I studied , all
the concepts are totally related to my field. This fact add pleasure and I develop my interest in work the
thing and concepts about that I just studied in class-room and just cleared my exams I practically done .
All the concepts of accounting including financial and cost accounting apply here. It gives me clear
understanding about my course that I already studied. Not just about the finance department but also
about Marketing and HRM concepts are applied here. That how recruiting of employees takes place,
how to manage the organization staff and resolve their conflicts. And how they attract their customers,

[Faiza Asad][S171BBAH055][BBA] Internship Report

how offer them services to retain them. In addition the experience enhance my knowledge about the
concepts and things I just studied in my courses , I practically done the work and it give me more clear
understanding.

REFERENCES/BIBLIOGRAPHY

[1] salihaasad, "slideshare," UBL, 2020. [Online]. Available:

https://www.slideshare.net/salihaasad/united-bank-limited-65744632.

[2] s. dada, "wikipedia," UBL, 2020. [Online]. Available:

https://en.wikipedia.org/wiki/United_Bank_Limited.

[Faiza Asad][S171BBAH055][BBA] Internship Report

ANNEXURE
Internship certificate:

[Faiza Asad][S171BBAH055][BBA] Internship Report

Employer Feedback form:

[Faiza Asad][S171BBAH055][BBA] Internship Report

[Faiza Asad][S171BBAH055][BBA] Internship Report
[Faiza Asad][S171BBAH055][BBA] Internship Report