Import operations of trade services of Standard Chartered Bank

Abstract

Foreign Exchange section of any bank deals directly with the international business activities. Therefore as an International Business major I worked on creating this report as an internal evaluation of Foreign Exchange department’s core processes. I have completed my 3-month internship in Standard Chartered Bank, Head Office. In SCB they named the Foreing Exchange Department as "Trade Services". This report gives a brief overview and evaluation on the operations of Import section and also the L/C process. In this report I have covered the workflow of processing letter of credit. I have found out that Head Office almost perfectly completes the processes for each letter of credit. Overall the performance is positive, but I feel Standard Chartered Bank top management still has some major things to look into to ensure continuous performance growth. Furthermore this report includes a brief recommendation based on the findings from the researched areas and my observation of 3 months.