General banking system of Uttara Bank LTD
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The report represents the 3-months working experience on Uttara Bank Limited (UBL) as an Intern. This report gives a clear idea regarding the activities, the operation strategies, and the performance of UBL. Uttara Bank LTD was established in 1965 under the name of “Eastern Banking Corporation Limited” with the specific objective of accelerating trade and investment in the economically depressed eastern wing of the than Pakistan. After liberation of Bangladesh the Bank underwent a major change namely, it was nationalized in March, 1972 and given the name “Uttara Bank”. The Bank again in 1983 was denationalized and made a commercial bank in the private sector under the name “Uttara Bank Limited.” Banks and other financial institutions play a vital role in forecasting the economic and social condition of a country. Banks in Bangladesh now constitutes the core of the country’s organized financial system. The main tusk is to mobilize funds from surplus economic unit and deployment it to deficit economic unit and Uttara Bank Limited is doing that successfully from its establishment. Customer satisfaction is very important for the reflections of the succession toward progress and expansion for any service institution. Excellence in customer service helps an organization to build a good position in the market and retain more customers. To keep the customers satisfied, Uttara Bank Limited provides various types of service to its customers. Uttara Bank Limited Principal Branch has three departments. These are: General Banking Department, Foreign Exchange Department and Credit Department. Through these three departments they serve their customers and their slogan is "Abohoman Banglar Oitijje Lalito”. General banking department provides service to the customers by doing the elementary tasks of the bank. This department has three sections: Main Cash with Cash Cell; Deposit Section 4 i.e. Savings, Current deposit, FDR, SNTDs; Clearing; Bills; Accounts; Sanchaypotra, These elementary tasks include account opening, providing master credit card, internet banking, offering different types of schemes to the customers, different types of bills and fees collection etc. Foreign Exchange department also play vital role by providing service to the customers. This department has three sections. These are: Export section, Import section and Foreign Remittance section. All these three sections Foreign Exchange department provides services to its customers. Credit department has three sections i.e. General Loan, Industrial Loan and Loan Recovery. Foreign exchange is an important department of this Bank Limited, which deals with import, export and foreign remittances. It bridges between importers and exporters. This department is playing an important role in enhancing export earnings, which aids economic growth and in turn it helps for the economic development. On the other hand, it also helps to meet those goods and service, which are most demandable and not adequate in our country. This report contains four chapters. First chapter deals with Introduction, origin, objective, scope, methodology and limitations of the report. Second chapter is the Organizational part of the report where I have tried to show an overview of Uttara Bank Ltd. and its theoretical background, Mission, Vision, Operating Profit, Deposit growth, etc. Third chapter contains the learning part of the report; General banking activities and fourth chapter contains findings, recommendations, conclusion and Reference. The report has been made by a careful review of published annual report, case study & discussion with responsible persons of Uttara Bank Ltd. who are engaged & connected with my related department. While working with general banking division in Uttara Bank Ltd., I have tried to find out some problems. Uttara Bank Ltd has complicated calculation process, insufficient number of ATM booths, lack of online system, inefficient employeesetc. 5 In the end, I have tried to give some recommendations against the mentioned problems of general banking division such as making easier calculation process, arranging sufficient number of ATM booths, introducing online system, etc. I hope and believe, by implementing the mentioned recommendations Uttara Bank Ltd. can reach the pick of its success.