Retail banking of IFIC Bank Limited

Abstract

This Report shows the working background on the Retail Banking Division at IFIC Bank Limited as internship report for BBA Program. IFIC Bank Limited expects to set principles as the Market pioneer in Bangladesh. It will show that a privately possessed establishment can give effective, agreeable and Modern full administration counts on a beneficial premise. The principle target of the study is to get learning about the operations of Retail Banking Division of IFIC Bank Limited furthermore to pick up the functional experience of corporate life and view the use of hypothetical information, in actuality. In addition to discover the issues which the association is confronting to encourage its every day operations and to discover the answers for further build up the Retail Banking Sector of IFIC Bank Limited. This report has examined about the IFIC Bank Limited's Mission, vision, and its hierarchical structure. Moreover it presents how IFIC Bank Limited has used the interest rates of its deposit products to capture the market and attract clients from its competitors. It also explains how the loans are processed to serve its clients. Furthermore the monitoring of the Head Office is a key factor in increasing efficiency and performance. Moreover, the growth of the Retail Banking sector is an integral part in reaching a greater segment of the clients in Bangladesh that are willing to receive banking services. Although, IFIC Bank does have a few obstacles which impacts heavily on its growth. One of them is the availability of skilled workforce (Direct Sales Team) in the market who has the essential presentation skills, communication skills, negotiation skills and the experience to portray a positive image of the Bank and achieve the set target and are willing to work long hours in the field. From the analysis and observation, some recommendations have been formulated in order to smooth operation of Retail Banking Division that is skilled manpower in the line of Retail Banking Operation must be accomplished through remuneration and job satisfaction. Latest development in the business should be introduced accordingly. Other than that, the performance of the Bank is quite outstanding with its limited resources.