General banking system of Uttara Bank Ltd.
AuthorMehedi, Md. Imrul Hasan
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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 UBL 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, UBL provides various types of service to its customers. UBL Principal Branch has three departments. These are: General Banking Department, Foreign Exchange Department and Credit Department. Through these three departments they serve their customers. 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 i.e. Savings, Current deposit, FDR, SNTD; 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 Uttara 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. Uttara Bank Limited is operating efficiently with its existing products and services. In service-oriented industry, it is very difficult to set a standard rule to satisfy the customer. Several factors shape up the decision of taking the service from an organization. The services which the Bank provides to their clients are very prompt and quality one compare to other private or foreign banks. The bank made satisfactory progress in all areas of business operation. So Uttara Bank Limited is the bank which will go on in the banking sector of the world with their slogan " Abohoman Banglar Oitijje Lalito”.