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Internship Report 201
CHAPTER NO.1
INTRODUCTION
1.1 PURPOSE OF STUDY
To intern means to train new graduates, internship is a process of seeking wide range of
fields. Internship gives students practical exposure to the corporate environment and the
business scenario, students come back better equipped of with practical experiences. Students
often base their career decision on the hands on experience they obtain during their internship. It
gives student an opportunity to get inside knowledge about the organization. The internship is an
intensive study of the organization and to seek job opportunity through this training before they
graduate.
1.2 RESEARCH METHODOLOGY
Methodology is based on the source through which internee has complete this report,
these are in two type. Primary data and secondary data.
1.2.1 PRIMARY DATA
The primary data is collected through personal observation, the internee to observe the
system of the bank regularly visited the branch the officers of different actions and department
delivered the precious briefing and lectures.
1.2.2 SECONDARY DATA
The secondary data under study were comprised of different reports published by
SUMMIT Bank and books related to this field.
The internee has to classify and tabulated the primary and the secondary data according
to the requirements of this study. The internee gets the useful information about the SUMMIT
Bank at the completion of this study.
1.3 LIMITATIONS
During the internship training period internee have faced following difficulties and
problems they are.
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1.3.1 SHORTAGE OF DATA
Because of shortage of time and being employee of some institute collected little data as
every worker get to perform their office duties.
1.3.2 SECRECEY OF DATA
Intern is always bound not to disclose any secret data, due to the business secrecy in
nature.
1.3.3 LIMITED DATA
Time period was limited to learn and observe about the all functions, accounts and
operations of the SUMMIT Bank.
1.4 STATEMENT
This report is prepared by conducting the practical work for the following reasons.
 The basic purpose of the study is to fulfill the requisite towards the completion of BBA
(Hons) degree. Through this, a student can undergo some practical training related to their
fields of specialization which will be beneficial for them in the future.
 This program intends to increase the communication skills among students because
they have to interact with the different practical oriented professional during the research
project.
 The research project is carried to familiarize with actual working conditions in any
organization by the physical work.
 It is necessary for the bachelor business administration students for acquiring superficial
knowledge.
 The main purpose of making report on SUMMIT Bank is to know how SUMMIT Bank
plays role significantly in the development of financial and industrial sector of the country.
 Another purpose of this report is also get know how it is performing the various
commercial and banking functions in the Pakistan.
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1.5 OBJECTIVE STATEMENT
Every human being sets its goals and objectives before he go for its implementation so as
to compare its progress with the desired objectives and measures any differences. During the
practical work the major objectives of my internship were:
 To analyze the working of SUMMIT Bank employees.

 To analyze how the SUMMIT Bank provide loans to the needy people.
 To analyze and study the SUMMIT Banking activities.
 To analyze how the SUMMIT Bank is fulfilling the requirements according
to the needs of market.
 To suggest measures and recommendations to the bank for upcoming

Future challenges.
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CHAPTER NO.2
THE BANK
2.1 WHAT IS BANK?
“Bank is an institution which revives money from one party and lends to another
party.”
There are different views about origin of the word “Bank”. According to some people
the word “Bank” is derived from the word “Bancus” which means a “Bench”. They argue their
point by this transacted their business of money exchange on the benches. If the business of
any businessman failed, the people destroyed his bench. Due to this practice the word
“Bankrupt” was also used.
On the other hand some people say that the world “Bank” is derived from German
time the word “Bank” was replaced by the word “Bank” which is called “Banco” in Italian
language.
In Simple words we can also say that bank is a pipeline through which money
moves into and out of circulation. Bank accepts deposits and repays cash to its customers on
demand. The bank borrows money at a lesser rate of interest and lends it to the borrower at a
higher rate.
The history of banking evolution is very interesting. In the early ages human like
and wealth was not secure. Due to fear of loot-mar and theft people buried their wealth under
land but this method was not satisfied. People started to search the custodians of wealth. The
evolution of banking started and it has crossed the many stages.
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2.1.1 TYPES OF BANKS
Banks are classified according to their field of activity; the main types of banks
are as under:
 Commercial banks
 Industrial banks.
 Agricultural banks
 Saving banks.
 Exchange banks.
 Central banks
 Cooperative bank
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2.1.2 WHY BANK IS IMPORTANT?
Bank plays a significant part in the economic existence of nation. The growth of economy
is strongly related to the reliability of its banking system. Although banks create no new money
but they borrow, exchange and use wealth. In this way they become very valuable partners in
the process of economic development.
The fundamental role of bank is to persuade the habit of savings among the people and to
activate these savings for investment purposes. Banks serve in capital formation.
If there are no banks then there would be concentration of capital in few hands and the
great fraction of capital of the country would remain inactive.
Loan facility provided by the bank works as an encouragement to the produce to increase
production. Banks offer transfer of payment facility, which is cheaper, quicker and safe. These
facilities are very much accommodating for the development of commerce and trade.
2.2 HISTORY OF BANKING IN PAKISTAN
At the time of independence, there were 487 offices of scheduled banks in the
territories now constituting Pakistan. Following the announcement of independence plan in June
1947, the Hindus residing in the territories now comprising Pakistan started transferring their
registered offices in Pakistan, transferred them to India in order to bring a collapse of the new
state. By 30th June 1948, the number of offices of scheduled banks in Pakistan declined from
487 to only 195.
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CHAPTER NO 3
SUMMIT BANK LIMITED
3.1 HISTORY OF SUMMIT BANK
Summit Bank Ltd is one of the fastest growing commercial banks of Pakistan, which, in a
very short span of time, has expanded its network across the country and built an infrastructure
based on state of the art “Risk Management Framework” as well as “IT platform.” Also targeting
to be a universal bank in terms of providing products and services in all key segments of banking
i.e. Corporate and Investment Banking, Trade Finance, Commercial Mid Market / SMEs, and
Consumer Banking, it commenced its operations in August 2006.
The Pakistan operations of Rupali Bank Limited were acquired by Arif Habib Securities
Limited under the Scheme of Amalgamation approved by the State Bank of Pakistan. The name
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of Rupali Bank Ltd was subsequently changed to Arif Habib Rupali Bank Ltd and then finally to
Arif Habib Bank Ltd in October 2007. On 31st March 2010, Suroor Investments Ltd a company
incorporated in Mauritius, acquired 59.41% stake in Arif Habib Bank Ltd from Arif Habib
Securities Ltd, and on 18th August 2010, Arif Habib Bank Ltd was rebranded as Summit Bank
Ltd.
Suroor Investments Ltd also entered into share purchase agreements (SPAs) with
majority shareholders of MyBank Ltd and Atlas Bank Ltd, who after completion of the
transactions have merged in Summit Bank Ltd expanding the Bank’s geographical outreach with
a network of 165 Real – Time Online branches across the country. In line with the
management’s vision of making this bank a front runner amongst its peer banks, this merger has
brought synergies and access to a wider range of markets and customers.
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.
3.2 CREDIT RATING
SUMMIT Bank was assigned an “A” rating in its medium to long term obligations by
JCR-VIS Credit rating company limited, an affiliate of Japan Credit Company and one of the two
rating companies authorized to rate financial institutions by the state bank of Pakistan.
3.3 VISION OF SUMMIT BANK
To be the preferred provider of financial products & services to the markets.
3.4 MISSION OF SUMMIT BANK

 To be a financial institution based on Trust, Integrity, and Good Governance.
 To deliver financial solutions to our customers.
 To provide equal opportunities & professional working environment to our
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employees.
 To provide fair return to our shareholders on their investment.
 To serve the community at large.
 To discharge corporate social responsibility.
3.5 CORE VALUES
SUMMIT Bank is absolutely trapped with a business philosophy that incorporate five
concrete values which each individual associated with the bank abides by. Our values are the
fundamental principles that define our culture and are brought to in our life in our attitudes and
behavior. It is our values that make us unique and unmistakable. Our values are defined below:
3.5.1 EXCELLENCE
This is at the core of everything we do. The markets in which we operate are
becoming increasingly competitive, giving our customers an abundance of choice. Only through
being the very best - in terms of the service we offer, our products and premises - can we hope
to be successful and grow.
3.5.2 INTEGRITY
For us, integrity means a synergic approach towards abiding our core values.
United with the force of shared values and integrity, we form a network of a well-integrated team.
3.5.3 MERITOCRACY
At every level, from selection to advancement, we have designed a consistent

system of human resource practices, based on objective criteria throughout all the layers of the
organization. SUMMIT Bank is therefore, able to achieve a specific level of performance at every
layer of the organization.
3.5.4 CUSTOMER FOCUS
We understand fully the needs of our customers and adapt our products and
services to meet those. We always strive to put the satisfaction of our customers first.
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3.5.5 PROGRESSIVENESS
We believe in the advancement of society through the adoption of enlightened

working practices, innovative new products and processes, and a spirit of enterprise.
3.6 OBJECTIVES
The bank’s main aim is to provide better and efficient services to its domestic and
efficient customers and overseas customer regarding the need for improving the financial
performance of the company.
Next are some of the main objectives of SUMMIT Bank.
o To get profit for the Bank itself and maximize its shareholder’s value.
o To offer solutions for multiple requirements of clients of assorted financial nature.
o To cope with the changing trends of the modern day financial market.
o To be a diversified bank by offering all basic consumer services along with specialized
services
o Honest and ethical conduct, including ethical handling of actual or apparent conflicts of
interest between personal and professional relationship.
o To provide employment opportunities to people.
o To help in development and industrialization of the country
3.7 CORPORATE INFORMATION
HEAD OFFICE
Arif Habib Centre, 23,
M.T.Khan Road
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Karachi-7400, Pakistan
UAN :(021) 111-124-725
Fax: (021) 32435736
REGISTERED OFFICE
Plot No .6 –B, F-Super Market,
Islamabad, Pakistan
SHARE REGISTRARE
Technology Trade (Pvt) LTD
Dagia House, 241-C, Block 2, PECHS,
Off shahrah –e- Quaideen
Karachi – 74000, Pakistan
Tel:(021) 34391316-7
Fax :( 021) 34391318
E-Mail: info@summitbank.com.pk
Toll Free: 0800-24365
AUDITORS
M.Yousaf Adil Salim & Co.
Chartered accountants
CFO AND COMPANY SECRETARY
Mr. Muhammad Amin Bhoori
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LEGAL ADVISORS
Liaquat Merchant Associates
WEBSITES
CORPORATE WEBSITES
www.summitbank.com.pk
3.8 TYPES OF OWNERSHIP
Following kinds of businesses are performed by the bank: -
1. Loans
2. Advances
3. Import / Export
4. Agency / consultancy
5. Public utilities
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CHAPTER No: 4
ORGANIZATIONAL STRUCTURE
4.1 ORGANIZATION STRUCTURE
Organization means a structure or system whose components are interred related
between themselves to achieve organizational goals.
Organization structure stipulates how tasks are to be allocated, who reports to whom and
the formal coordination mechanism and interaction pattern.
4.2 MANAGEMENT HIERARCHY
FIGURE 4.1
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4.3 CHAIN OF COMMANDS IN BANK BRANCH
FIGURE 4.2
4.4 DOMESTIC STRUCTURE

Summit Bank maintains its position as Pakistan’s fastest growing Bank with a network of
over 165 branches across Pakistan the bank provides the entire banking services counting
consumer and corporate finances, leasing, investment and money market transactions etc. the
figure below shows the branches of SUMMIT Bank all over Pakistan
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4.5 BOARD OF DIRECTORS

4.5.1 WHAT DOES BOARD OF DIRECTORS DO?
 To construct the policies in order to support the business of bank.

 To announce the profits on deposits.
 To declare the rate of interest on advances and loans.
 To make the policies for the benefit of Bank recruits.
4.5.2 LIST OF BOARD OF DIRECTORS
Mr. Nasser Abdullah Hussain Lootah

Chairman
Mr. Husain Lawai

President and CEO
Mr. Nasim Beg

Director
Mr. Asadullah Khawaja

Director
Mr. Farid Uddin

Director
Dr. Ahmed Khalil Mohammad Samea Al Mutawa

Director
Mr. Shehryar Faruque

Director
4.6 MANAGEMENT COMMITTEE

Husain Lawai
President and CEO
Mohammad Zahir Esmail

Chief Operating Officer
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Syed Mohammad Anwar Lutfullah
Group Head Operations, Information Technology, Consumer, Branchless Banking &
Corporate Communications
Ahsan Raza Durrani

Group Head Corporate and Investment Banking, Financial Institution and Capital Market
Gulrays Khan
Group Head Compliance & Co-ordination and Control
Syed Asif Ali

Group Head Enterprise Risk Management
Mr. Akhtar Ali Khan

Group Head SAM & Legal
Mr. Gulrez Yazdani

Group Head Wealth Management Division
Muhammad Amin Bhoori

Chief Financial Officer & Company Secretary
Faisal Shaikha
Head of Treasury
Aziz Morris
Head of Internal Audit
Hanif Yousuf
Head of Business Promotion and Development
Mohammad Mursleen Rao

Head of Corporate-North
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4.7 DETAILS OF STAFF MEMBERS

S. No Names of staff Members Functions
1 Mr.Basher Ahmed Durani Branch Manager

2 Mr. Nadeem Ul Arfeen Operation Manager
3 Mr.Noor Muhammad Shah Assistant Manager
4 Mr.Zohaib Jaleel Siddiqui Account Opening Officer
5 Mr.Parveez Inayat Teller
6 Mr.Machando Teller
7 MS. Sharmeen Haider Remittance Officer/ Clearing
8 Mr. Muhammad Ali Relation Manager
9 M. Fahad Tea Boy
TABLE 4.1
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4.8 COMPANY’S BRANCH HIERARCHY
FIGURE 4.3
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CHAPTER No: 5
INTERNSHIP ACTIVITIES
5.1 LOCATION
The branch of SUMMIT bank limited in which I did my internship was “SUMMIT bank
Market chowk branch”
5.2 DEPARTMENTS I WORKED IN

During the six-week internship, I had to work in different department. The day I
reported in branch (25th June), the senior manager had introduced me with
Ms.Sharmeen Haider experienced bank employee and told me that she would act as
internship coordinator. Ms. Sharmeen Haider with mutual consultation assigned me
five departments, which are as follows:
 Cheque Receipts Dept.

 Account Opening Dept.
 Fixed Deposits Dept.
 Remittances Dept.
 Clearing Dept.
5.2.1 CHEQUE RECEIPTS DEPARTMENT
It is a helping department for clearing as well as Remittance department. When any

customer brings any sort of negotiable instrument it has to be deposited in cheque Receipt Dept.
These receivables are then further classified as under
 Interbank transfers
 Intra bank transfers
 Online transfers
 Travelers cheques
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All those cheques which are of same branch or bank (e.g. SUMMIT) are termed as online
transfer provided that both concern branches are online. Cross stamps are engraved in front of
instrument received to make it ownership of bank.
As this department acts as facilitator and there is also enough idle time, so more than
often different responsibilities are also assigned to this department. These include
 ATM Forms issued and Received

 Draft cancellation
 Complaint forms
 Phone banking
5.2.2. ACCOUNT OPENING DEPARTMENT
Account opening department is one of the most important departments of a bank. It is

known as Gateway to the bank as anyone (any individual, partnership firm or JSC) who wants to
initiate relations or to avail the services of bank has to open an account. This is why it is known
as gateway to the bank. For opening of account a form is given which includes all necessary
requirements needed for further process. This form also includes term and conditions of account
holders and all details of bank and customer relationship. Before opening an account there are
certain requirements.
5.2.2.1. REQUIREMENTS FOR ACCOUNT OPENING
 A copy of ID card of both introducer and customer

 Original ID for verification copies of student card for students and appointment letter
from the employees of IUB.
 If customer use thumbs impression then must give his 3 recent photographs.
 Next of kin: the customer must clear that that is responsible for the account in his
absence.
 Customer must be present at the time of opening the account.
5.2.2.2. TYPES OF ACCOUNTS
There are different accounts that can be opened with a bank. These are
 Current Account
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 Savings Account
 Basic Banking Account
5.2.2.2.1. CURRENT ACCOUNT OR DEMAND DEPOSIT
Current Account of SUMMIT Bank is open with 500/-the bank will open the current
account mainly open for the business man. Who can draw money any time from the bank this is
the main function of this account. With minimum balance of Rs. 5,000 in this account, account
holder can enjoy unlimited transaction facility. There is no interest paid by the bank on this sort
of account.
5.2.2.2.2. SAVING ACCOUNT
Saving accounts are opposite of current account. These sorts of accounts are provided to
encourage savings habits. There are different classifications of saving accounts, usually termed
as short, medium and long term saving plans. Each set has its own unique characteristics. The
saving Account of SUMMIT Bank is started from 20,000/-, any Amount less than bank will make
charges of 55 per month against the balance. The function of the saving accounts is to save the
surplus money of the people by giving them good interest rate.
5.2.2.2.3. BASIC BANKING ACCOUNT
This account is basically introduced to cater needs of student and salaried persons. We
can say that it is an aspect of corporate social responsibility of bank. It is similar to current
account as no interest is paid. There will not be any deduction or penalties in case of minimum
balance. The only precaution to operate this account to make sure that balance should not be
zero or negative.
5.2.2.3. OPENING OF AN ACCOUNT
When the applicant fulfills all requirements, the procedure of account opening starts, to
open an account of any type, bank officer has to go through five different windows of MYSIS
than the account holder information is sent for verification.
1) ANC stands for Add New Customer

2) CIM stands for Customer Additional Information Maintenance
3) CAA stands for Customer Account Address
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4) OCA stands for Open Customer New Account
5) KYC stands for Know Your Customer
5.2.2.3.1. ALLOTMENT OF ACCOUNT NUMBER
After going through the procedure above mentioned an account number is given to the
customer. One thing is very important for understanding that even going through the above
mentioned procedure successfully, it does guarantee the opening of account. After allotment of
account number it remains block for two days as the verification process is in process in these
two days. This is why account is inactive for its first two days.
5.2.2.3.2. SPECIALTY OF ACCOUNT NUMBER
Fifteen digits account number is allotted to the SUMMIT Bank account holder. The first
digit is code of SUMMIT Bank branch where account is going to be opened, afterward five digits
indicates type of account, while after five digit there is three digits that indicates currency code
and last six digits are customer account serial number. For example
6 20311 714 116377
BRANCH CODE TYPE OF ACCOUNT CURRENCY CODE ACCOUNT SERIAL

NUMBER
FIGURE 5.1
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5.2.3 FIXED DEPOSITS DEPARTMENT
Fixed deposits are those, which can be withdrawn only after the maturity period. In this
type of deposits the Bank allows high rates of interest depending on the time period of deposits.
The shorter the period of deposits, the less will be the interest and vice versa.
5.2.4. REMITTANCE DEPARTMENT
As it is clearly depicts from its name, this department is used to remit amount from one
place to another. This department performs following functions
 Intra bank transfer

 Interbank transfers
 Local fund transfers
 Issuance of bankers Cheque
5.2.4.1. INTRA BANK TRANSFERS
When an account holder presents a cheque of another party who is also the account
holder of same branch, funds are transferred immediate by using online system and available for
usage. This is known as intra Bank transfer.
5.2.4.2. INTERBANK TRANSFER
When an account holder (may be of same branch but should be of SUMMIT Bank)
presents a cheque of another party (account holder of SUMMIT Bank any other branch), funds
are transferred immediate by using online system and available for usage. This is known as
interbank transfer.
5.2.4.3. LOCAL FUND TRANSFERS
If any SUUMIT Bank account holder wants to credit his account without being physically
going to the parent branch, he can transfer funds by LFT. Remittance department also performs
the services of LFT.
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5.2.4.4. ISSUANCE OF BANKER’S CHEQUE
Bankers Cheque is recently introduced by SUMMIT Bank to replace old concept of pay
order and demand. This step was undertaken to make banking operations more customer
friendly as well as brought simplicity in banks operations. Earlier Pay Order (PO) was made for
local funds movement whereas Demand Draft (DD) to make payments in outside region. But
now for all customers, banker’s cheque is issued. The issuance procedure is same as earlier.
Customer has to fill Remittance form, which includes all relevant information.
5.2.5. CLEARING DEPARTMENT
Every bank performs both as a paying as well as collecting functions on behalf of its
customer. It is however an important function of crossed cheques. A large part of this work is
carried out through the bankers clearing house. A clearing house is a place where
representatives of all the banks of a city get together and settle the receipts and payments of
cheques drawn on each other bank. As the collecting banker runs the certain risks in receipt of
their ownership, the law has provided certain protections to the banks.
The basic function of clearing dept. arises when SUMMIT Bank account holder deposits
cheque of another bank to collect its payment on his behalf or SUMMIT Bank account holder
gives a cheque to any other party concerning to any other bank. Usually a cheque is sent
through clearing is credited to the depositor account day after tomorrow. In this regard there are
two types of clearings
 Inward Clearing
 Outward Clearing
5.2.5.1. INWARD CLEARING
Inward clearing means all those cheques which are issued by account holders to other
parties and now these cheques are presented for payment (in term of amount of cheque credit to
presenter account).
5.2.5.2. OUTWARD CLEARING
Similarly when outside parties issue some cheques to our account holders, they deposit
these cheques in Cheque Receipts Department. Afterward these cheques, as relating to other
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banks operating in country, are sent to clearing department or further process. Clearing dept.
sends these cheques to respective banks and after realization of cheque, funds are credited to
the account of respective customer. In this regard there are two types of clearing
 Intracity clearing
 Intercity clearing
These cheques are sent through NIFT. Time for realization may differ in case of remote
areas.
5.2.5.2.1 NIFT
 National Institutional Facilitations Technologies (Pvt) limited was established in 1997 by

the banking giants of Pakistan, i.e. HBL, NBP, ABL, MCB.
 NIFT has the blessing and the support of the SBP.
 It has offices in all the major cities of Pakistan.
 NIFT facilitates the clearing of cheques between institutions locally (within the city).
 It is also referred to as the “Automated Clearing House”.
NIFT collects cheques, demand drafts, Pay orders, Travelers Cheques, etc. from all the
branches of different banks within city through its carriers and send them to the branches on
which these are drawn for clearing. After the branches approve the instruments drawn on them,
NIFT prepares a sheet for each branch showing the number for instruments and amount in its
favor and drawn on it and sends it to each branch.
5.3 LEARNING AS AN INTERN

As everybody knows “knowledge without practice is sterile” in order to give vent to this
idea an internship program of six to eight weeks has been arranged in different organizations
during BBA. In this regards on 25th June 2012, I started my internship at SUMMIT bank Market
branch Hyderabad, I did my internship in general banking and during that period I got a chance
to work and learn in the following depts. of the bank:
 Clearing department.
 Account Opening Department.
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 Advances/finances.
 Cash department.
5.3.1 SKILLS AND QUALIFICATIONS
My experience has been amazing and I would recommend my fellows to take the
opportunity and do internship experience prior to job. The methods I am learning in the
classroom have gone hand in hand with things I am learning on the job, which has helped me
apply my knowledge in both areas. The work experience will also help build an excellent resume
(including relevant work experience) for when I'm out of the classroom and searching for a job. I
really learned how all the operations are being carried out in bank, got knowledge about every
transaction and it’s posting methods. I learned how to deal with our customers coming for
various operations; learned professional attitude to tackle on job problems, my entire time of
internship gave me immense knowledge of practical work.
5.3.2 RESPONSIBILITIES
As such they gave me different important tasks because every operation was very
sensitive so they asked me to observe the ongoing operations and ask if you have any confusion
on any matter, we will tell you its solution which will help you in your future career. According to
them interns are often in positions in order to gain real world experience and apply concepts
learned in the classroom to the everyday responsibilities of a career. But even than I spent a
reasonable time in every department including Account opening, clearance, remittance, etc I
enjoyed a lot in every section and seen the method how perfectly they are utilizing the
theoretical knowledge (class room study) into practical and professional life, which really
boosted my skills and confidence, this learning will surely help me in my professional career.
5.3.3 INTERNSHIP INFLUENCE FOR FUTURE
Internship is for a considerable length of time. It provide the benefits of actual practical
experience, before internship I was confused and worried about myself, where should I move ,
how I will work in this segment, but as I have mentioned above internship is an opportunity to
close the gap between learned theory and practical reality, so I really found this true, definitely
this small amount of internship time gave me a clear idea about banking sector, how the
operations are being carried out, what sort of problems occurs, in which fields I am strong and
which thing should be improved. So it gave me a clear picture about my future plans, now I am
very much focus and decided to go for my masters in finance and build my career in finance.
5.3.4 INTERNSHIP CORRELATED WITH CLASSROOM STUDY
Class room study is great to give you the knowledge needed for your career field. You will
likely be taught the principles used in the career and be given a base knowledge of how to apply
those principles. However, most of peoples say from their personal experiences that the
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greatest amount of learning occurred outside of the classroom, they says that we learned the
most and gained invaluable tools needed for our career field from a internship. It's amazing how
much we can learn from a 2 month internship versus 4 year in a classroom. There is no
substitute of class room study. An internship however can give you the opportunity to apply that
base knowledge and expand it in real life situations. Internships are designed to support
classroom learning, it’s almost similar what we are learning in our classes, same concepts we
have to apply in practical life and we get accurate results. Most of the people say that practical
life and decision making is different from theoretical concepts, which is totally wrong concept,
we cannot move to any decision making and accuracy of results if we are not well equipped of
theoretical knowledge ( Class room learning ),if our theoretical concepts are clear than we are
able to go for right decisions.
CHAPTER 6
PRODUCTS AND SERVICES
6.1 PRODUCTS AND SERVICES OF SUMMIT Bank

Deposits are the backbone of any financial institution. Deposits are used mainly for
lending onwards at higher rate than the rate on which they are acquired. Hence, a bank must
have a dependable deposit base to ensure its sound operations. While taking deposits, a bank
should be very careful and keep in mind the provisions of prudential regulations no.XII. Similarly
extra care is exercised in quality investment and profitable portfolio to ensure the beat possible
earnings for its shareholders.
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Deposit transaction essentially gives rise to a unique relationship, which stems from the
establishment of trust and commitment between the banker and the customer. By accepting the
deposits, the bank automatically enters into a binding contract to act as a trustee, taking due
care of the customer interest.
6.1.1 DEPOSIT PRODUCTS
6.1.1.1 Current Account

6.1.1.2 Summit Classic Current Account
6.1.1.3 Saving Account/ PLS Saving Account
6.1.1.4 Term Deposits
6.1.1.5 Mahana Amdan
6.1.1.6 Daily Product Account
6.1.1.7 Hamara Summit Family Saving Account
6.1.1.8 Summit Advantage Account
6.1.2 CORPORATE AND INVESTMENT BANKING
6.1.2.1 FI and Cash Management

6.1.2.2 Commercial and SME Banking
6.1.3 CONSUMER BANKING
6.1.3.1 Visa Debit Card

6.1.3.1.1 Visa Debit Card-classic
6.1.3.1.2 Visa Debit Card-Gold
6.1.3.2 Home Finance

6.1.3.3 Personal Finance
6.1.3.4 Banc assurance

6.1.3.4.1 Met Life Alice
6.1.3.4.1.1 Wedding Planner
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6.1.3.4.1.2 Graduate Plan
6.1.3.4.1.3 Golden Age
6.1.3.5 Insurance Plans

6.1.3.5.1 Personal Accidental Insurance
6.1.3.5.2 ATM Cash and Withdrawal Insurance
6.1.4 E-BUSINESS
6.1.4.1 Mobile Banking

6.1.4.2 Internet Banking
6.1.4.3 U Payments
6.1.4.4 Mobile Balance Recharge
6.1.4.5 Bill Payments
6.1.4.6 e Statement
6.1.5 REMITTANCES
6.1.5.1 Our Alliances
6.1.5.2 Western Union
6.1.5.3 Amanat Cash
6.1.5.4 Xpress Money
6.1.1 DEPOSIT PRODUCTS
Deposit Products are defined as the “services” provided to customers, summit Bank have
streamlined different products in order to provide the customized solution to our Existing and
potential Clients.
6.1.1.1 CURRENT ACCOUNT

Summit Bank Current Account is a convenient and secure way of holding your money in
local and foreign currencies.
The key features of this account are as follows:
 Non-interest bearing
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 Starter cheque book issued when the account is opened
 Unlimited free-of-cost transaction facility
 No deduction of Zakat
 Choice of periodic statements (monthly, quarterly, half-yearly and annual) by post
 Access to account statement anytime through Internet Banking facility
 Account transaction information through SMS
 Free issuance of VISA debit card
 Cash withdrawal through large ATM network
6.1.1.2 SUMMIT CLASSIC CURRENT ACCOUNT

Summit Classic Current Account Reward you with enhanced privileges through Summit
Classic Current Account. Exclusively designed to meet your diverse financial needs, this classic
account offers you benefits that are beyond your imagination.
Key Features:
 One account with a bundle of product
 Minimum monthly average balance as low as Rs. 50,000/-
 Free VISA Debit Card Up to 3
 Special Retirement Or Investment Insurance Plan at only Rs. 2000/month (banc assurance)
 Loan Facility (secured) with special rates
*Minimum deposit required is Rs. 50,000/- & subject to Insurer’s Terms & Conditions.
6.1.1.3 SAVING ACCOUNT /PLS SAVING ACCOUNT
Summit Bank’s Savings Account is the most convenient way to manage your savings in
local and foreign currencies. Our Savings Account has been designed to provide you with easy
access to your money, as well as a higher rate of profit.
Key features of these accounts are as follows:
 Starter cheque book is issued when the account is opened

 No penalty on minimum balance not being maintained
 Choice of periodic statements (on monthly, quarterly, half-yearly and annually basis) by
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post.
 Access to your account statement anytime through our Internet Banking and e-
Statement facilities
 Account transaction information through SMS
 Free issuance of a VISA debit card
 Easy cash withdrawal through a vast network of ATMs
6.1.1.4 TERM DEPOSITS
Term Deposits are offered by Summit Bank to the following types of customers:
 Individuals (single or joint)
 Minors (to be operated by the guardian)
 Charitable institutions
 Provident fund & other funds of benevolent nature
 Local bodies
 Autonomous corporations
 Limited companies
 Firms, associations, educational institutions, financial and other institutions who

intend to retain their deposits for a fixed period in order to earn a higher rate of profit.
6.1.1.5 MAHANA AMDAN

Minimum Deposit Amount Rs. 50,000 up-to Rs.10 million
Rate of Profit
Term Deposits Expected Rate of Profit
3 Months 9.50%
6 Months 10.00%
1 Year 11.00%
2 Year 11.25%
3 Year 11.50%
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TABLE 6.1
Notes:
 These are not rack rates.
 All Terms & Conditions must be according to the scheme.
 These rates are not applicable for any amount which is less than Rs. 500,000.
 In case of any deposit of more than Rs. 5 million, the Treasury front office may be
contacted for improvement of rates.
 In case of premature encashment, the depositors will be paid at the rack rate of last
completed tenor on the broken period.
 These rates cannot be offered to Financial Institutions, e.g. Banks, DFIs, Investment
Banks, Leasing Companies and Mutual Funds.
Eligibility:
All individuals and institutions other than Financial Institutions are eligible for this account.
Period of Deposit
6 months, 1 year, 2 years & 3 Years
Special Benefits
 Free VISA debit card
 Monthly profit will be credited in the depositor’s account and can be withdrawn through
cheque or ATM, free of charge
 Deposit will be rolled over on maturity for the same period at the rates prevailing on the
date of maturity, unless otherwise requested by the customer.
 Free GSM Services [The customer will have an option to be informed of each
transaction made in his/her account via SMS]
 Free Internet Banking
 Free issuance of pay orders and demand drafts
Conditions
 Profit is subject to Zakat, withholding tax and other taxes are imposed from time to time,
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unless exempted.
 Regular declared TDR profit rates [for the last completed period of deposit] will be paid
on premature encashment.
6.1.1.6 DAILY PRODUCT ACCOUNT
Take advantage of SUMMIT Bank Daily Product Account, which is a unique account
where your money begins earning interest as soon as you make a deposit. Interest is calculated
on your daily closing balance and credited to your account monthly, which means you make
money from the day of initial deposit to the day that you withdraw your funds. It’s a simple way to
start growing your savings right away. The minimum amount required to open this account is Rs.
25,000. It is an account that raises your own money (deposit) on daily basis .
6.1.1.7 HAMARA SUMMIT FAMILY SAVING ACCOUNT
Fostering the existing bond and to better serve the financial needs, SUMMIT Bank has
come up with ‘Summit Family Savings Account’ – a unique savings account offering superior
returns and a host of free services.
As a trendsetter, Summit Bank brings a solution to assure parents of their commitment to

their children. With more values, more expertise and more solutions, Summit Bank innovates a
saving account that serves the entire family. Get your entire family to bank with Summit Bank,
and enjoy vast privileges and
unique benefits that go hand in hand with Summit Innovations.
We have exciting surprises for the first year customers.
Here’s how it Works

 Grouped accounts for the family
 Initial Investment Requirement-Rs.5,000/-
 Minimum Balance Requirement-Rs.5,000/-
 Attractive return of 9%
 Additional 2% as bonus feature*
 Up to Five free Visa debit cards
 Minors can make purchases and withdraw cash at ATMs via the Visa Debit Card
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Here’s what you get
 SMS alerts
 Mobile Balance Recharge
 Visa Debit Cards
 Internet Banking
 ATM Cash Withdrawal Insurance
 Personal Accidental Insurance
 Utility Bill Payment through SMS/ATMs/Internet and/or Contact Centre ATM
 Intra-Bank Fund Transfer
 Lockers
Eligibility
The customer ID of the primary account holder will be the family ID. The Primary account
holder CANNOT be a minor. Minimum 2 and maximum 5 members can be grouped under a
single Family Savings Account
6.1.1.8 SUMMIT ADVANTAGE ACCOUNT
Summit Advantage Account is a unique combination of exceptional returns on your

investment coupled with a facility to avail up to 70% financing; and that’s not all, it comes with an
added advantage of no additional mark up!!!
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. Offering superior returns on
your valuable savings and charging no extra mark up on your loan financing –with Summit
Advantage, you cannot aspire for more. Select Summit Advantage to experience an ultimate in
banking innovation.
Key Features:
 Maximum Loan up to 70% of the deposit with no additional markup (11.0% p.a.)
 Exceptional returns up to 11.0% p.a.
 Monthly profit payout
 Term: 1 year
 Minimum investment of Rs 100,000/- with a maximum limit of up to Rs 50,000,000
 Access to a range of value added facilities
Free Facilities:
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 Visa Debit Card
 Internet Banking
 SMS Alerts
6.1.2 CORPORATE AND INVESTMENT BANKING
SUMMIT Bank mission is to serve all corporate requirements and ensure full satisfaction
through product innovation, personalized banking, and top notch service. Our Corporate &
Investment Banking Group focuses on attracting and serving Blue Chip Customers. Our forte is
providing exemplary customer service using the “Single Window” concept and “Product
Superiority”. Our Corporate Banking Group comprises a seasoned team of Relationship
Managers (RMs) to meet the demanding service standards of Corporate & Businesses enabling
us to provide timely and effective financial solutions for our customers to meet the growing
challenges of a global economy. Our RMs has the expertise you need to create tailored financial
solutions catering to the specific requirements of your business. Whether it’s establishing a new
venture or expanding an existing business, our team understands your banking needs and
works closely with you to realize your goals.
Some of our Specialist areas in Corporate Banking include:
 Running Finance, Short Term & Long Term Finance, Financing against Imported
Merchandise (FIM), Cash finance and Export Re-finance.
 Pre and Post Shipment Export Financing (PKR and USD based)
 Import Financing (PKR and USD Based).
 Trade Services including Letter of Credit (Sight & usance), Letter of Guarantee and
Standby Letter of Credit, etc.
 All other services with respect to the requirement of business of borrower are provided
here.
Our specialist area in Investment Banking includes:
 Project & Structured Finance

 Syndications & Debt Capital Market
 Equity & Advisory
 Bonds
 Structured Finance
 Leveraged Buyouts
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 Privatization
 Equity Underwriting & Placement
 Mergers
 Corporate Restructuring
 Syndicated Loans
 Project Finance
 Private Equity
 Equity De-Listing
 Acquisitions
6.1.2.1 FI AND CASH MANAGEMENT
Financial Institutions Services
FI & Cash Management is the support function of Corporate / Investment Banking &
Treasury. In FI, we maintain relationships with all Financial Institutions around the globe.
SUMMIT Bank main functions are:
 Treasury Lines initiation
 Nostro / Vostro Accounts relationships
 Trade support in routing L/Cs
 Country / Bank Lines initiation and management
 Inland Banking Arrangements
Cash Management Services
In recent years, Cash Management has gained importance to become a focal point of
attention for Corporate. The ongoing economic instability in Pakistan has also heightened the
need for greater risk management and controls. Summit Bank Ltd. (SMBL) has accepted the
challenge to provide its customers with Cash Management solution which allows them to better
predict and manage their cash flows, thereby also allowing them to focus on their core business.
SMBL is endeavoring to bring new and improved products to its customers that provide
them with optimal solutions in the most effective and efficient manner.SMBL’s focus is to serve
its corporate clients by pursuing efficiency with growth and profitability. Our primary focus is on
efficient management of customers’ cash flows along with the financial products designed to fit
every client’s specific needs.
6.1.2.2 COMMERCIAL AND SME BANKING
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SUMMIT Bank Commercial & SME Division targets Medium Sized Companies with a
turnover of at least PKR 25 – 50 million. We have a centralized set up and have the ability and
the resources to meet the needs of your business with our pro-active, responsive and
experienced Relationship Managers who are committed to understanding your business. If you
have a small or medium-sized business, SMBL can assist you with the right mix of banking
services that will help you manage and grow your business. Our experts will facilitate you in the
varied financial situations that you come across.
We offer financing for the following:
 Working Capital Financing
 Procurement of Inventory
 Receivables financing
 Procurement of Machinery
 Expansion of production facilities
 BMR
 Import / Export
 Guarantees
6.1.3 CONSUMER BANKING

Fostering the sense of profitability, SMBL is now anticipating Consumer Banking
Services through a dedicated division. SMBL aims to aggressively grow its existing profitable
portfolio by introducing products in phases. We will provide services for deposits, consumer
loans, credit cards, insurance and asset management through its customer-focused and
competitive approach while closely following technological developments. With a clearly defined
market segment and a solid strategic intent supported by a modern and reliable infrastructure,
Summit Bank is set to scale new heights in Consumer Banking services .
6.1.3.1 VISA DEBIT CARD
Summit Visa Debit Card welcomes you to a world of privilege and pleasure. Be it
shopping, dining or travelling, Summit Visa Debit Card lets you do it all, with ease and panache.
With the accessibility one aspires for and the convenience one desires, Summit Visa Debit Card
redefines purchasing pleasure
6.1.3.1.1 VISA DEBIT CARD-CLASSIC
Combining domestic convenience with international luxury, Summit Visa Debit Card is a
perfect alternative to cash. As the most versatile payment tool in the market, it incorporates the
benefits of flexibility, security and incomparable convenience, and is your gateway to
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unparalleled rewards.
The Summit Visa Debit Card also opens up avenues to a world of Electronic Banking
services. Now you can pay your bills, transfer funds, monitor your account, purchase prepaid
airtime and do a lot more, all with your Summit Visa Debit Card. Offering you the highest value
for the lowest prices, this Card empowers you with world class purchasing convenience.
It is as simple as Shop Swipe Sign
Benefits
 Worldwide acceptability
 Flexibility of usage
 Complete personal financial management
 Security, Reliability, Convenience
 Insurance
 Vast privileges /unique benefits
 Zero loss liability
 Flexible daily spend limits
 24 Hr emergency helpline
 Competitive rates
 Annual Fee Waiver for the first year
 Countless deals / discounts/ packages both locally and internationally
 Access to electronic banking services
 E –Alerts
6.1.3.1.2 VISA DEBIT CARD-GOLD
Summit Visa Debit Gold Card grants you access to a vast bundle of Gold privileges and
benefits. As our preferred customer, you get a superior level of service along with an ease to
purchase all that you like, effortlessly and conveniently. Exciting domestic deals and enticing
international packages guarantee you highest level of purchasing pleasure.
Summit Bank now introduces the Cash Back Card! With the SMBL Visa Debit Gold Card,
you are rewarded every time you shop. When you make a purchase, you get a 5 % cash back* if
your shopping ranges between Rs.3, 000 to Rs.10, 000 every month. This Card not only offers
you ultimate in purchasing convenience but also rewards you for it. No matter what you buy and
with no inhibiting terms & conditions, SMBL Visa Debit Card is not just an ordinary payment tool
but a truly rewarding experience. To avail your share of this experience, please dial 0800-24365
or visit Summit Bank Branch closest to you.
Cash Back Features
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 5% CASH BACK* applicable wherever you shop
 Applicable on spend amount as low as Rs.3,000/-
 Maximum speed limit Rs.10,000/-
 The cash back amount will be credited to your account at the start of the following month
(if criteria met)
 Applicable only on Gold Card Holders maintaining minimum average balance of
Rs.300,000
 Overdraft Facility also available
Cash Back Benefits
 No astronomical spend criteria
 No hidden conditions
 Flat 5% cash back* across any and all retail outlets
 No barriers to minimum or maximum transaction counts
 Applicable on spend limits as low as Rs.3,000
 Get Rs.500 on spending Rs.10,000 anywhere in a whole month
 Such a Deal has never been offered previously on Debit Cards
Added Benefits
 Great local & international Privileges
 Visa Global Customer Assistance Services (GCAS)
 Lost/Stolen Card Reporting
 Cardholder Inquiry Service
 More discounts and deals to choose from
 Lowest charges than currently being offered elsewhere
 Access to a host of electronic banking services
 Annual Fee waiver for the first year
6.1.3.2 HOME FINANACE
Summit Bank has a comprehensive range of home loans schemes with solutions for
everyone. The value and flexibility that Summit Bank Home Finance offers, complemented by
exceptionally personalized service, is what makes it the right choice for you. At Summit Bank,
we believe in simplicity & convenience.
Summit Bank Home Finance can be sought to fulfill any of the following needs:
 Buy-a-Home
 Build-a-Home
 Home Renovation
 Purchase of Land & Construction
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 Home Debt Consolidation (BTF)
The salient features of this plan are appended here-under:
Loan Amount Minimum: Rs.300,000/-

Maximum: Rs.50,000,000/-
Minimum Collateral Value Rs.1,000,000/-
Loan Tenor Minimum: 03 years

Maximum: 20 years
*Proposed financing period of loan must
mature 5 years prior to the expiry of
lease
Mark-up Rate* Salaried – (K+4)

Self Employed Professional – (K+4.5)
Self Employed Businessman – (K+5)
Type of Mortgage Equitable or Registered Mortgage

(as per lawyer’s advice)
Mortgage Charge Bank should have a first charge on the

mortgaged property through Equitable
Plus Token / 100% Registered Mortgage
(As per lawyer’s advice).
Property & Life Insurance Property & Life Insurance will be

mandatory
from Bank’s authorized insurance
company
TABLE 6.2
6.1.3.3 PERSONAL FINANACE
Summit Bank takes pride in announcing the launch of another unique and valuable
addition to the privileges and benefits it offers – an innovative, convenient and secure way to
meet your personal and family financial needs through Personal Finance.
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Loan Amount Minimum: Rs.25,000/-

Maximum: Rs.1,000,000/-
Loan Tenor Minimum: 1 year

Maximum: 5 years
Type of Loan Term Loan
Type of Facility Un-Secured
Type of Markup Fixed During Loan Term
Premature Payment Facility Available
Loan Enhancement Facility Available (History / Income Based)
Loan Top-up Facility Available
TABLE 6.3
6.1.3.4 BANC ASSURANCE

“Banc assurance” is the distribution of insurance products by banks, through their own
distribution channels.
SUUMIT Bank is proud to offer Banc assurance products to our valued clients in association with
the leading Insurance companies. The unique products are designed to address variety of our
customers’ needs.
Our clients can choose from the following products, which the insurance companies are offering:
MetLife Alice
 The Graduate Plan
 The Wedding Planner
 Golden Age Plan
 Goals
The following Optional Rider(s) can be attached with these products to enhance the
coverage level on payment of additional premium*:
Accident Care Benefit (ACB): It would provide an additional lump sum in case of death
or disability due to accident. This rider would also provide cover in case of
dismemberment due to accident.
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Income Benefit Rider (IBR): It would pay a monthly income benefit in the event of
permanent & total disability of the insured.
Family Protection Rider (FPR): It would pay all due basic premiums, from the date of
permanent and total disability of the insured to the end of the FPR term.
Level Term Insurance Rider: It would pay an additional lump sum in case of death of
the insured due to accident or sickness.
*The riders may terminate before policy maturity date depending upon the
term available
 Jubilee Life Ltd.
 Suhana Kal
 Sunehra Aghaz
The following Optional Rider(s) can be attached with these products to enhance the
coverage level on payment of additional premium*:
Accidental Death Benefit: To provide extra protection against accidental death, an
additional amount will be paid under this benefit if death occurs due to an accident.
Wavier of Premium: If the Life Insured suffers an illness or disability and is not able to
follow his/her own occupation or any other occupation suited by knowledge, training or
education for at least six months ,then the premium from the next premium due date will
be paid until recovery.
Critical Illness: Advances the benefit payable on death in case the life assured is
diagnosed as having one of the specified critical illnesses.
Hospitalization Cash Rider: A daily benefit is paid if the life assured is confined to a
hospital. The benefit is doubled in case of hospitalization due to any of the specified
critical illness. In case of confinement to ICU, additional 50% benefit will be payable.
Spouse and children can also be covered under this benefit.
*The riders may terminate before policy maturity date depending upon the
term available
6.1.3.4.1 MET LIFE ALICO
MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit
programs, serving 90 million customers in over 50 countries. Through its subsidiaries and
affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia
Pacific, Europe and the Middle East.
MetLife companies provide consumers and businesses with life insurance, accident health
insurance, and retirement planning and wealth management solutions.
6.1.3.4.1.1 WEDDING PLANNER
A high value investment and protection plan that is designed to help customers build the
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required funds to meet their child’s marriage expenses on payment of regular premium.
Eligible Enrollment Age 18 – 55 Years
Policy Term Minimum 10 Years – Upto The Age of 70 Years
Minimum Basic Premium PKR 6,000/- For Monthly Mode OR

PKR 25,000/- For Annual, Semi-Annual and
Quarterly Modes
Maximum Basic Premium No Limit
Account Value Acceleration Facility Available – If customer has surplus

Premium (AVAP) funds, he or she may top-up the regular
premiums by depositing a lump sum
contribution to the Plan
Premium Payment Mode Direct Debit From Summit Bank Account
Partial Withdrawal Allowed After 5 Years
Policy Surrender Allowed After 2 Years. In Case of Earlier

Surrender, Applicable Charges are To Be paid
Choice of Investment Make Your Own Mix (Switching Facility

Strategies Available)
Non-Medical Limit PKR 2.5 Million Upto The Age of 45 Years
Built-in Rider Family Protection Rider (FPR) – In case of

permanent and total disability of the insured,
all due future premiums are waived from the
date of diagnosis of disability
Loyalty Bonus Payable At The End of Every 5 Years
Death Benefit Basic Face Amount OR Account Value (Which

Ever Is Higher)
Maturity Benefit Accumulated Account Value Payable in Lump

Sum
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Table 6.4
6.1.3.4.1.2 GRADUATE PLAN

A high value investment and protection plan that is designed to help customers build the
required funds to meet their child’s college fees on payment of regular premium.
Minimum Basic Premium PKR 6,000/- For Monthly Mode ORPKR 25,000/-
For Annual, Semi-Annual and Quarterly Modes


Surrender, Applicable Charges To Be paid

Built-in Rider Family Protection Rider (FPR) – In case of

permanent and total disability of the insured,
all due future premiums are waived from the
date of diagnosis of disability

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Ever Is Higher)
Maturity Benefit Accumulated Account Value Payable in Four

Equal Annual Installments
TABLE 6. 5
6.1.3.4.1.1 GOLDEN AGE
A high value investment and protection plan that is designed to help customers continue
with their existing lifestyle even after they retire on payment of regular premium.
The salient features of this plan are:
Minimum Basic Premium PKR 6,000/- For Monthly Mode OR

PKR 25,000/- For Annual, Semi-Annual and
Quarterly Modes


Surrender, Applicable Charges To Be paid

Built-in Rider Accident Care Benefit (ACB) – In case of death

or permanent and total disability of the insured,
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an additional benefit equal to 10 times the

basic annual premium is payable.

Ever Is Higher)
Maturity Benefit Accumulated Account Value is used to buy

monthly pension that is payable for lifetime of
the customer and guaranteed for a minimum of
20 years
Table 6.6
6.1.3.5 INSURANCE PLANS
Unexpected events that strike without warning can disrupt the smooth rhythm of life.
Insurance plans are policies that talk to you individually and give you the most suitable options to
fit your requirements. To ensure your financial security Summit Bank now offers two Protection
Plans.
6.1.3.5.1 PERSONAL ACCIDENTAL INSURANCE
Life is full of surprises and you never know what way it turns next. With our Personal
Accident Insurance, you’re protected in case of an accident, 24 hours a day, 365 days a year, at
a very low premium
6.1.3.5.2 ATM CASH AND WITHDRAWL INSURANCE
Summit bank offers insurance in case of unexpected mishap, with our ATM Withdrawal
Insurance, you are protected at all 1-Link ATMs – 24 hours a day, 365 days a year.
6.1.4 E-BUSINESS
Summit Bank is one of the leading banks in Pakistan in terms of electronic banking. We
offer our customers a diverse range of electronic services and convenient banking options
through various channels, such as ATMs, mobile phones and Internet.
Our Mobile Banking allows customers to avail a variety of banking services of pure SMS-
based technology, including mobile balance recharge and utility bill payments, as well as
account information.
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Internet Banking is another channel on which we offer extensive banking services.
Customers can view account information, pay bills, transfer funds, and conduct many other
transactions through their account(s). Hence providing a fast, secure and convenient way to
banking.
6.1.4.1 MOBILE BANKING
In keeping up with rapidly changing technology, Summit Bank offers you banking through
your mobile. You can easily keep track of all your account transactions through your mobile
phone, and retrieve account information whenever you want, just by typing and sending a simple
SMS.
6.1.4.2 INTERNET BANKING
Summit Bank offers a secure, fast and convenient Internet Banking channel with a range
of services. It will change the way you bank today.
Internet Banking ensures that you have convenient access to your account and banking
services, no matter where you are.
6.1.4.3 U PAYMENTS
With an Ufone connection and a Summit Bank account, you can avail convenience like no
other.
You can easily utilize the following services from your mobile:
 Balance Inquiry
 Mini Statement
 Utility Bill Payments*
 Prepaid Ufone Balance Recharge
 Postpaid Ufone Bill Payment
6.1.4.4 MOBILE BALANE RECHARGE
Anywhere, anytime, every network! Summit Bank’s Mobile Balance Recharge service, the
first of its kind, is the easiest and quickest way of recharging your own and your friends’ and
family’s mobile airtime.
6.1.4.5 BILL PAYMENTS
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Save your time by availing Summit Bank’s Utility Bill Payments service. You can now pay
your bills through Internet Banking
6.1.4.6 e STATEMENT
E-Statement is a convenient facility, through which you can choose to receive your
account statements over email, so you can access your statement whenever you choose,
wherever you go. The paperless service allows you to save account records without any
paperwork.
6.1.5 REMITTANCE
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.
Salient Features of Summit Bank Home Remittance includes:
 Fastest Account Credit

 Free
 Quick Processing
 Real Time
 Premium exclusively dedicated friendly Customer Service for Home Remittance
Customers.
 24/7 Customer support through Contact Center.
5.1.6.1 OUR ALLIANCES
To facilitate expatriates, Summit Bank has created alliances with the finest exchange
companies in Dubai, Middle East, UK and USA making it convenient to send money to your
loved ones in Pakistan.
5.1.6.2 WESTREN UNION
SUMMIT Bank offer quick and convenient delivery of cash over the Counter services in
association with Western Union. No matter where you are around the globe, if there is Western
Union around, you can transfer funds to your loved ones, in no time. This payment can easily be
picked up in a matter of moments at dedicated Western Union counters in our branches. No
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account at Summit Bank is required for this service
5.1.6.3 AMANAT CASH
Summit Bank is affiliated with PRI (Pakistan Remittance Initiative) which is a joint venture
of ministry of finance and State Bank of Pakistan. It has affiliation in all 165 branches and over
850 partner payout locations nationwide. All the branches are online.
Summit Bank Ltd has the ability to transfer funds into beneficiary’s account instantly
through IBFT and RTGS enabled Banks (which covers over 90% of account holders in
Pakistan). Funds will be directly credited to beneficiary accounts in Fast, Free & Secure manner.
Amanat Cash Services include the following:
 Cash to Account (Instant Bank Transfer

 Cash-to-Cash Money Transfer (Instant Cash over Counter)
3. 9 am to 8 pm remittances disbursement services at selected branches in all major cities
to facilitate the beneficiary to collect the payments over the counter, which no other bank
offers.
 Cash-to- AMANAT Card* (Remittance Card Service for the Beneficiary)
 Cash-to-Cash Home-delivery Service**.
5.1.6.4 XPRESS MONEY
Xpress Money is simply the fastest way you can receive money from anywhere, we take
pride in ensuring that it reaches to beneficiary safely and in a matter of minutes.
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CHAPTER NO 7
RECOMANDATIONS, CONCLUSION &
BIBLIOGRAPHY
7.1 RECOMMENDATIONS
I spend six weeks of my internship in SUMMIT Bank Ltd, Market Chowk branch
Hyderabad. During this period I felt as the part of the bank. It was my first experience to work in
a banking environment. I had less knowledge about the operations of the bank and its ambiance.
This internship gave me an opportunity to learn more about the Banking systems. Based on my
experience in SUMMIT Bank can recommend or suggest them, which can help them in short, or
long-term issues.
So, I will give following suggestions for the better function of the bank:
 It is strongly recommended that SUMMIT Bank must introduce employees training

programs on regular basis. So that employees have awareness about the new developments
with the clients.
50
2
 SUMMIT Bank Ltd. should update all the branches throughout the country as the
banking competition is very tight and they have to make their banking systems quicker and
reliable.
 It is observed that the employees were overburdened so they have to stay at branch till
late at night.In this way their efficiency is affected and hiring more employees can reduce their
work.
 If any bad debt comes up, then the bank should recover those debts as soon as
possible so that its financial position should improve.
 The amount of women employed by summit Bank Limited is not as much as compared
to male staff, so it should provide work to more women.
 Working conditions must be improved for the employees.
 Immediate feedback to customer’s inquiries is essential to sustain a healthy relationship

with the customer.
 For financing actions the procedure should be simple to the customer.
 The recruitment procedure must be reasonable and clear.
 Studies must be carried out regarding degree of customer satisfaction and all
employees of this department should look forward to get criticism whenever possible.
7.2. CONCLUSION
SUMMIT Bank is clearly the first choice of everyone who believes in qualitative approach
of banking an environment of highly responsible people. Bank is enjoying a healthy market share
and taste of good status in terms of its operative features and customer support. SUMMIT Bank
is clearly the best bank operating in Pakistan. Corporate and commercial functions are
distinguished features of SUMMIT Bank experiencing a good reputation and reasonable mark up
with respect to prevailing market mark up with assurance of satisfaction and support. SUMMIT
Bank has more customers as compare to other banks, if they given proper attention to every
customer then in few years it will be the leading bank of the country (asset point of view)
51
2
REFERENCES
 SUMMIT Bank annual report year 2010 & 2011
 State bank of Pakistan circular.
 www.summitbank.com.pk
 www.scribd.com
52
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BIBLIOGRAPHY
 Mr. Zohaib Jalil Saddiqui - Account opening officer.
 Ms. Sharmeen Haider – Clearing officer
 Mr. Nadeem Arfeen - Operation Manager
 Mr. Noor Muhammad shah – Assitant Manager
53

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Internship Report 201

1.2 RESEARCH METHODOLOGY

1.2.1 PRIMARY DATA

1.2.2 SECONDARY DATA

1.3.2 SECRECEY OF DATA

1.3.3 LIMITED DATA

1.5 OBJECTIVE STATEMENT

 To analyze the working of SUMMIT Bank employees.

 To suggest measures and recommendations to the bank for upcoming

2.2 HISTORY OF BANKING IN PAKISTAN

3.2 CREDIT RATING

3.3 VISION OF SUMMIT BANK

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

3.4 MISSION OF SUMMIT BANK

3.5 CORE VALUES

At every level, from selection to advancement, we have designed a consistent

3.5.4 CUSTOMER FOCUS

We believe in the advancement of society through the adoption of enlightened

Next are some of the main objectives of SUMMIT Bank.

o To provide employment opportunities to people.

o To help in development and industrialization of the country

3.7 CORPORATE INFORMATION

Arif Habib Centre, 23,

UAN :(021) 111-124-725

Fax: (021) 32435736

Plot No .6 –B, F-Super Market,

Technology Trade (Pvt) LTD

Dagia House, 241-C, Block 2, PECHS,

Off shahrah –e- Quaideen

Karachi – 74000, Pakistan

Fax :( 021) 34391318

Toll Free: 0800-24365

M.Yousaf Adil Salim & Co.

CFO AND COMPANY SECRETARY

Mr. Muhammad Amin Bhoori

Liaquat Merchant Associates

3.8 TYPES OF OWNERSHIP

Following kinds of businesses are performed by the bank: -

4.2 MANAGEMENT HIERARCHY

4.3 CHAIN OF COMMANDS IN BANK BRANCH

4.4 DOMESTIC STRUCTURE

4.5 BOARD OF DIRECTORS

 To construct the policies in order to support the business of bank.

 To declare the rate of interest on advances and loans.

 To make the policies for the benefit of Bank recruits.

4.5.2 LIST OF BOARD OF DIRECTORS

Mr. Nasser Abdullah Hussain Lootah

Mr. Husain Lawai

Mr. Nasim Beg

Mr. Asadullah Khawaja

Mr. Farid Uddin

Dr. Ahmed Khalil Mohammad Samea Al Mutawa

Mr. Shehryar Faruque

4.6 MANAGEMENT COMMITTEE

Mohammad Zahir Esmail

Ahsan Raza Durrani

Syed Asif Ali

Mr. Akhtar Ali Khan

Mr. Gulrez Yazdani

Muhammad Amin Bhoori

Mohammad Mursleen Rao

4.7 DETAILS OF STAFF MEMBERS

1 Mr.Basher Ahmed Durani Branch Manager