An overview of banking activities of Prime Bank Ltd.
AuthorKshama, Shohana Afroz
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Banks are among the most important financial institutions in the economy. It can be easily identified by the function it performs in the economy. Today the importance of banking practices have become undoubtedly immense across the world and by noticing such growing demand, banks are trying to come up with different kinds of new products and services. Today, however, the functions of a bank have increased so much so that it is considered as a very vital agent of development in a country like ours, Because of their positive involvement in trade, industry, business, finance and a host of other allied services, banks today represent very important part of any economy. Prime Bank Limited is a private commercial bank in Bangladesh. It was established on April 17, 1995. It is now one of the banks in Bangladesh which follows international standard in Banking and Finance. Prime Bank was created and commencement of business started on 17 April 1995. The sponsors are reputed personalities in the field of trade and commerce and their stake ranges from shipping to textile and finance to energy etc. They offers all kinds of Commercial Corporate and Personal Banking services covering all segments of society. Diversification of products and services include Corporate Banking, Retail Banking and Consumer Banking right from industry to agriculture, and real estate to software. I was assigned it in the Asad Gate Branch of Trust Bank Ltd. I present this report on the basis of the knowledge and experience gained during the working period. This report is broadly categorized in different parts. At First there is an introduction where I describe the background of the report, objectives of the report, scope of the report, limitation of the report and methodology of the report. The main objectives of the report are finding out the working process of “General Banking” performed by the unit members. The data that’s been used for this study are both primary and secondary in types. The primary data has been collected through discussion with the respective organization's officials. Secondary data consists of all published or reported material, which have already been collected or preserved. In line with the Bank’s objective to become market leader, Prime Bank Limited adopted a customer-oriented service policy and developed diverse products to meet the needs of corporate, commercial and retail customers. This bank is one of the most disciplined banks with a distinctive corporate culture. The Core Competencies of TBL are knowledge, transparency, reliability, experience and expertise etc. And the challenges of the TBL’s are understand customer and banker, management problem, centralization, advertising and promotion etc. Then I briefly described about the general banking area of Prime Bank limited which includes Account opening section where a customer can open different types of accounts such as Current account, Savings (SB) account, Short Term Fixed Deposit (FDR). Then deposit section which is classified into demand deposit and time deposit, after that cash section where banks, as a financial institution, accept surplus money from the people as deposit and give them opportunity to withdraw the same by cheque, etc. Among the banking activities, cash department play an important role. After that I analyzed the performance of PBL which includes financial performance from the year 2009 to 2013. The core objective of any corporation is to maximize the stockholders’ wealth. As Prime Bank is also a corporation, its prime objective is to maximize its stockholders wealth. According to the theory stock price is the best indicator of a business firm’s performance that it is a perfect provided market.