Analyzing the procedure of general banking activities of Standard Bank Ltd.

Abstract

Standard Bank limited is a bank which is incorporated under private sector and was turned into a public limited company on may 11, 1994 under companies act of 1994. This bank started commercial banking operations on June 03, 1994 and since then it has created a positive service oriented banking sector in Bangladesh. This is Because within a short period of time, It has been named as the largest private sector commercial bank with internet banking, locker system, online money transfer and cash transactions with a very short time. The bank provides the commitment to serve the customers within a convenient time and satisfy different customer needs with different banking technologies provided by professional work force and as a result it has positioned itself as a dynamic and professional financial institution in this country. It has 90 Branches across Bangladesh and a principal branch in motijheel in Dhaka where transactions of monetary services goes to all branches and provides customer satisfaction to all regions as well. The major objectives are to provide how banking system works in Account opening section, mail dispatch section, Bill and clearing payment section and cash section and Remittance section through which overall activism of standard bank can be observed. The marketing aspects of standard bank are of 7 P's which are product ,price, place, promotion, people, process and packaging. This bank operates on all districts and regions of Bangladesh with 90 branches operating to serve the customers of different localities and a principal branch in Motijheel to supervise the overall operation of all branches and to provide monetary supply to all banks in order for customers requirement of money. Its motto is to create new technologies in the field of modern banking, which is being regulated by BACH(Bangladesh Automated Clearing House) where millions of taka are transacted to Bangladesh Bank from all branches through the principal branch and also provides ATM and credit card services as well as loan schemes and opening of letter of credits for import-export of various products entering or departing to various overseas destinations through different ports. In short, this bank has created a possible technology to reach out customers throughout Bangladesh in a quick and easy manner.