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SONERI BANK LIMITED MALIR KARACHI 2011
SONERI BANK LIMITED Page 1
.......3 In The Name Of Allah the Most Beneficent and the Merciful Preface SONERI BANK LIMITED Page 2 ......................................................................................................2 PREFACE...................................................................................................................................................Submitted by AMNA JAHANGIR Table of Contents TABLE OF CONTENTS......................................................2 .............................................................................
Saving Bank. Karachi has followed policy of assigning different practical assignments to its students so a touch of real working environment can be given to the students apart from classroom studies to widen their perspective. State Bank of Pakistan. I have worked in almost all departments of General banking.G etting practical knowledge in one of the major aims of BBA program. I have learned about the banking from experienced managers running these departments. Exchange Bank. In this context. SONERI BANK LIMITED Page 3 . respectable Chairman of Training Division Mr. ABDUL RAFAY QADRI assigned me to do internship in Soneri Bank. Commercial bank of Pakistan. Author AMNA JAHANGIR EXECUTIVE SUMMARY The banking structure in Pakistan comprises of the following types. I hope that the readers of this report will get valuable information about Soneri Bank Karachi. In six week internship program. Department of Business Administration FAST NATIONAL UNIVERSITY. specialized credit institutions. City Campus. This internship report consists of two findings to work in the different departments of bank and gathered useful information from different sources. cooperative banks.
Bank use pay order. Basic Banking A/C. He told me with the help of this ID their different branches can easily get information about customer account. The introducer must have an account in bank. they assigned customer an ID is known as Customer Relationship Management ID.D instead of T. It is valid for six month. In clearing and remittances section they have very efficient system. The bank is using SWIFT for transfer of information about imports and exports. The bank cant open an account of customer before the verifications comes from NADRA. SBL Malir branch basically a smaller branch so it does not have particular department for trade and credit. and pay orders.D. and SONERI BANK LIMITED Page 4 . To open an account the customer has to meet account opening officer with an introducer. or introducer might be the employee of the bank. Now people prefer D. After entering data. MISSION STATEMENT To developed Soneri bank Limited into an aggressive and dynamic financial institution having the capabilities to provide personalized service to the customers with cutting edge technology and a wide range of products. SBL has different types of account like. They clear the cheque through NIFT (National Institute of Facilitation Technology) where SBP exits. In remittances they told me about T.T. Soneri bank strictly followed the account opening procedure. They store all the information of their customers in data base. when the payment is to be made with in a city.This report contains the information about SBL that I have gathered during my six weeks internship period. D.T D. This report basically deals in General banking departments of SBL Malir branch where I worked as internee . Current account.D is a banker instrument and draft used for outside the city. PLS and Soneri PLS A/C.
she told me about the rules and regulation that must be me followed by me and asked me to join Mr. I also worked in clearing and remittance department where I met Miss Huma Naz.during the process to ensure maximum return on assets with ultimate goal of serving the economy and society. Throughout my internship I also do messanger’s work which is batch posting and voucher stitching. Haibut give us little information about the cash handling. Irfan Khan A/C opening (Officer). She is very cooperative kind of person. Account opening is a part of GENERAL BANKING. because there was no one as a branch manager in Malir branch. “We have more time for you” INTRODUCTIONS OF THE DEPARTMENTS IN WHICH I WORKED AS INTERNEE: In my first week in SBL. SONERI BANK LIMITED Page 5 . I also learned there how to make bankers cheque. the operation manager Miss Fouzia Abbas assigned me to learn the basic banking concept. Internees were not allowed to enter in cash department without permission as it is most sensitive department so I didn’t get the chance to work in this department but a cashier head Mr. she also helped me in learning the steps involved in clearing.
DEPARTMENTS OF SONERI MALIR BRANCH (0065) • • • • Accounts Department Clearing Department Remittances Department Cash Department DETAILS OF EACH DEPARTMENT SONERI BANK LIMITED Page 6 .
sole proprietorship & joint personal For partnership.ACCOUNT OPENING PROCESS Custo Issue check book Request Send letter of thanks Documents Deposit cash Accou nt opene Establish identity and authority Process documents Request for check book Meet customer Bank er TYPES OF ACCOUNT OPENING FORM There are types of account opening form • • For single. trust. clubs etc. Page 7 SONERI BANK LIMITED . limited Company.
Normally different companies. SONERI BANK LIMITED Page 8 . SOLE PROPRIETORSHIP & JOINT PERSONAL • • • • • • • CNIC photocopy. Verisys Introducer must have an account in the same branch. KYC. • Authority letter. In case of partnership unregistered the fact should be mention in account opening form. NTN certificate (for Sole Proprietorship) World Check.BASIC REQIRMENTS FOR OPENING AN ACCOUNT FOR SINGLE. in favor of the person authorized to operate on the account of the firm. Attested photocopy of registration of firm with registrar of firms. Letter Head in case of sole proprietorship FOR PARTNERSHIP. LIMITED COMPANY. • • • • • • Basic Banking A/C Soneri Sahara Account Current A/C PLS Saving Soneri Saving Fixed/ Term deposit A/C • • • BASIC BANKING ACCOUNT This is account is for salaried person account. CLUBS ETC FOR PARTNERSHIP Attested photocopy of CNIC of all partners Attested photocopy of partnership deed duly signed by all partners. • KYC. • NTN certificate • World Check. Colleges opened their employees account in this account. Schools. in original. TYPES OF ACCOUNTS Soneri bank is dealing in different types of account. TRUST.
25% p. firms associations. minors (to be operated by the guardian). SONERI BANK LIMITED Page 9 . they assigned customer an ID is known as Customer Relationship Management ID. Current account may be opened with any amount. educational institutions etc. etc. NOTE: But they are reluctant to give us complete information about their data base. autonomous corporations. provident fund and other funds of benevolent nature local bodies.SONERI SAHARA ACCOUNT This acoount is for those persons who have attained the age of 60 years or above at the time of Opening of Account may opt for this scheme. limited companies. After entering data. charitable institutions.on any day shall be subjected as per their schedule of charge in force. This scheme provides 10. With the help of this ID their different branches can easily get information about customer account. PROFIT & LOSS SAVINGS ACCOUNT PLS saving Bank Account is a simple. CURRENT ACCOUNT Current is a non profit account flexible account with a great convenience for individuals (in single or joints names). straight forward saving bank Account with a great convenience for individuals (in a single or joint names) minors( to be printed by the guardians) charitable institutions. with an attractive return. autonomous corporations. limited companies. associations. SONERI SAVING ACCOUNT Soneri savings account provides an opportunity to small and medium income group people. firms.a interest. educational institutions. (CRM ID) In (CRM) fill all the information of customer in their data base.5000. however accounts with balance below Rs. the account may be opened with any amount.
then they pass the transaction.CLEARING In clearing some important terminologies come. STANDING INSTRUCTION Standing instructions are given by the customer to the banker. • • • Normal clearing Special clearing Intercity clearing NORMAL CLEARING Normal clearing is further divided into two types. and this is second most important part of general banking. In case of not they return the cheque to NIFT. The clearing Department check the status of the account if the status of account would be OK. then they credited the account of the second party and Debited the account of their customer. clearing department checks the status of the account. TYPES OF CLEARING There are three types of clearing. These cheques are delivered by NIFT. these are given below. If the status of the account is ok. • • Internal cheque External cheque Internal Cheques: Internal cheques are given by the customer of the same branch. SONERI BANK LIMITED Page 10 . External Cheques: External cheque comes from different bank to Soneri bank but from the same city. • • • • • Types of clearing IBDA NIFT Standing Instruction Daily Fund Transferring .
REALIZED: Bank realized entry when it received a notice of clearing from other bank. • Shadow • Realized • Unrealized SHADOW: It just a record till the cheque is not clear. or any utility bills of customer etc. DAILY FUND TRANSFERRING In daily fund transferring the bank transfer the funds to customer’s main account where he wants. like (Karachi. For example • Soneri Malir had sent request for UPS.In this cash will be transfer to second party’s account according to the instruction given by the customer. bank has authority to take these vouchers and pass the transaction. Inter Bank Debit Adjustment (IBDA) In IBDA always Head Office has right to debit the account of its branches. if there are some mutual expenses. Soneri Head Quarter has purchased the UPS on the behalf of Malir branch. Islamabad. Example If Customer instructs the bank if his children fee voucher comes. and debited the account of Malir Branch with that amount. So HQ-Soneri Bank instruct their branches that they should transfer the funds of Uniliver to company’s main account in Karachi. Lahore. Multan. REALIZATION AND UN-REALIZATION There are three steps in realization of cheque in clearing. So Head office sends IDBA note to its branch that they have debited their account.The Account’s manager of the company instruct the bank that banks should transfer their fund to their main account in Karachi. and Faisalabad) . Example Uniliver has an account in different cities. SONERI BANK LIMITED Page 11 .
When traveling within Pakistan. Pay order is the bank’s instrument. use the Card at Soneri Bank’s own network of ATMs and hundred of ATMs displaying either the 1-link or M-Net symbols. After issuing the pay order now its bank responsibility to pay the cash to party. ATM Card’s Soneri Banking Card offers convenient and 24-Hours-a-day. bank issued the pay order after checking the status of account of party who is making this note in the favor of other party. ATM ACCESS ACROSS ALL OVER PAKISTAN: Now cash withdrawals and Balance Inquiry services are available by any of the ATM in Pakistan. 365 days a year access to ATMs across the country. • • Pay order used within the city Its validity for six month. AVAILABLE SERVICES: SONERI BANK LIMITED Page 12 . if you are maintaining a Soneri Bank PKR Current or Savings account Single or Joint account with either signatory authorized to operate the account. ELIGBILITY: You can also apply for a Debit Card services. a further supplementary card can also be issued to the second account holder.UNREALIZED: In case if cheque is not clear. REMITTANCES NEGOTIABLE INSTRUMENTS • • Pay orders ATM Cards PAY ORDER If one party is not certain about other then they requested for pay order instead of cheque. then we unrealized the cheque and removed from the shadow. Pay order minimize the risk. If you are having Soneri Banking Card. All Soneri Banking Card holders use debit card facility.
Some important point for SD SONERI BANK LIMITED Page 13 .000 currency notes.AT ALL ATMs Cash Withdrawal: You can withdraw cash from your account(s) up to Rs. Bank will advance him cash. Bank maintains this account to meet the cash in emergency. the token book and paying cashier book is balanced. At the close of the day these are balanced with each other. it is entered in the Scroll book and cash receiving cashier book.500. Officer checks the books maintained in this department.000 per day in multiples of Rs. and Rs. extra care sis taken in this department and no body is allowed to entered or leave the area freely.25. The token and cashier make entry in the payment book and after that payment is made to the payee. When cheque or any negotiable instrument is presented at counter for payment. Mostly.1. Opening Balance + Receipt –Payments= Closing Balance This is very important department because cash is the most liquid asset and mostly frauds are made in this department. But bank will deduct this amount at the time of paying salary to him. CASH DEPARTMENT The following books are maintained in the cash department. its entered in the token book and token is issued to the customer. At the closing of the day. • • • • • Receiving cashier books Token Book Paying cashier Book Scroll Books Cash Balance Book. The consolidated figure of receipt and payments of cash is entered in the balance book and drawn closing balance of cash. Like if employee needs salary in advance due to some problem. therefore . Balance Enquiry: You can see the available balance in your account displayed on the screen or obtain a printed advice. cash area is grilled and its door is under the supervision of the head of that department. When cash is received in counter. SUNDRY DEBTOR Sundry debtor is also known as suspense account.
I’ve found that in banking sector concentration and consistency is of utmost importance. At the start of next month debit side and credit would be equal to zero. In Malir Branch there is no department for credit and trade. IBDA. debit advices. and new branches expenses can be adjusted in this account. Passing the entries of daily fund transfers In clearing department. During my internship. I fulfilled all my duties on time. Your little mistake can create big problem. IBCO.• • • At the month debit side must be equal to credit side. Although if the customer asks for any task related to these departments the SONERI BANK LIMITED Page 14 . I checked the cheque of different banks and of the customers. my work was appraised by the Branch manager. • Batch posting Well management allowed as working on those areas where the chances of errors are less. • • Opening new account of individuals customers Checking the balance of remittances ledgers. DUTIES ACCOMPLISHMENT During my six week internship. credit advices. • • • • Making vouchers. so I didn’t get chance to learn about these departments. I fulfilled my assigned duties with integrity. Making calls to customers informing them to receive their new ATM Visa Debit Card. Any expense like TADA. The duties that I have accomplished during the internship period are given below. At the accomplishment of each duty.
SUGGESTIONS If I was the manager of SBL. The bank operates in four segment corporate finance. This new aspect will also attract a large number of people.operation manager deals with it but no proper information was given to internees about their transactions. and operate more than 118 braches including four Islamic Banking Branches in Pakistan. Within the span of 18 years. SBL has become the one of the largest private bank in the country. In Multan I have seen that the huge customer traffic in trading area (Corporate section) rather than retail customer. retail banking and commercial banking. I think it would also attract the other bank customers. who don’t want to deal with interest bearing bank. If management of SBL giving facility of night banking to its customer. trading and sales. If SBL focusing on advertisement it would be good for organization. their own Marketing team launches new ads. There are following suggestions for SBL. rather than outsourcing. Management should give their customer good mark up rate. SBL can enjoy handsome return its funding base by investing in capital markets in the foreign countries. There are about 112 correspondent banks in 31 countries of the world. Management should also open new branches is rural areas to capture market share. because promotions makes people know about the products of SBL. The management should launch new offers for their old customer as well as dissatisfied customers of other banks. • • • • • • • • SBL has launched another division know as Islamic Banking. CONCLUSION Soneri bank Limited is engaged in banking service. Its capital and reserves level is increasing day-bySONERI BANK LIMITED Page 15 . They must focus on their own Marketing team.
personalized and efficient service to the clients at all the times. Their main objective is to provide professional.day. To develop Soneri bank Limited into an aggressive and dynamic financial institution having the capabilities to provide personalized service to the customers with cutting edge technology and a wide range of products. and during the process to ensure maximum return on assets with ultimate goal of serving the economy and society. SBL is always looking forward to provide new and better services than their competitors. ______________________________________________________ SONERI BANK LIMITED Page 16 .