Analysis of Standard Bank Limited’s import pattern from Bangladesh import perspective
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Bank is the most old and legendary media for financial transaction. In modern days banking facilitate clients with innovative services and products because of continuous effort of market research & development. As influencing number of banks establishing repeatedly so competitions are not exist within limited area. Now this competition are so intensive that local banks have to compete with international banks in a standard level. In Gulshan branch of SBL I was employed in Import division for successive 13 weeks. Foreign Exchange is center attraction of SBL, although the bank has provided other types of banking services also like consumer banking and corporate banking. Total import operational process is same as those of other banks to compliance with international & national acts. From different aspects import trend of SBL has been compared with Bangladesh import pattern. Some anomalies are found and possible recommendations are made based on the comparison analyses. Import is a key instrument of international trade. Bangladesh is one of the biggest importers comparing to SAARC listed countries. A sustainable economy depends on the major economic indicators like GDP, remittance, export, import and some other factors also. In order to growth successfully sound import has positive impact on country economy. Bangladesh is an overpopulated country with lack of technological and industrial support. On this circumstances Bangladesh have to have depended on imported commodities. The prospective issues of my report are our country’s import progress; Bangladesh Bank’s advanced online system for import, altering policies & regulation so as to make letter of credit process secure and easy. I made comparisons between Bangladesh and SBL based on some import related categories and stated anomalies for those facts like commodity-wise import, country-wise import amount with major listed countries, five years chart on import amount of both SBL and Bangladesh and inferring with recommendations for limitations. SBL on an average has captured 2% of total import of Bangladesh which is causes for insufficient plan for aggressive approach and inadequate road shows and online advertising. Location wise demand, client capturing strategy and political instability influences commodity-wise ratios and creates gap. If SBL can use different media for advertising, promote advanced service and policy and segment the market then the bank can overcome all limitations.