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Introduction

TABLE OF CONTENTS SECTION 1 Introduction 1 SECTION 2 Vision 2 Mission 2 Objectives 3 Strategic Planning 4 Business Ethics & Conduct 5 Inspiring Relationships 7 Nation-Wide Distribution 10 Corporate Information 11 Awards and Achievements 12 Corporate Citizenship 14 SECTION 3 Organizational Structure 15 * Organizational Structure Of Head Office 16 * Hierarchy In Bahawalpur Branch 18 SECTION 4 Groups and Divisions 19 1. Operations And Credit Group 19 2. Corporate Banking Group 21 3. Retail Banking Group 23 Products of ACBL 27 SECTION 5 Departments of ACBL 29 1. General Banking i. Account Opening 29 ii. Bills And Remittances 38 iii. Deposit Department 43 iv. Cash Department 48 2. Credits And Advances Department 51 3. Foreign Exchange 68 Online Banking 81 Internet Banking 82 SECTION 6 Summarized Performance 88 A Decade of Performance 90 SECTION 7 Financial Analysis 94 SECTION 8 SWOT Analysis 106 SECTION 9 Suggestions 112 Conclusion 113 Future Out Look 114 SECTION 10 Annexure INTRODUCTION Askari bank was incorporated in Pakistan on October 9, 1991, as a public limited company. It commenced its operations on April 1, 1992, and is principally engaged in the business of banking, as defined in the banking companies ordinance, 1962. The bank is listed on the KARACHI, LAHORE AND ISLAMABAD Stock Exchanges and its share is currently the highest quoted from among the new private sector banks in Pakistan. Askari Bank has expanded into a nation wide presence of 98 Branches, and an Offshore Banking Unit in Bahrain. A shared network of over 1,100 online ATMs covering all major cities in Pakistan supports the delivery channels for customer service. As on December 31, 2005, the Bank had equity of Rs. 8.6 billion and total assets of Rs. 145.1 billion, with over 600,000 banking customers, serviced by our 2,754 employees. Vision To be the Bank of First Choice in the Region Mission To be the leading private sector bank in Pakistan with an international presence, delivering quality service through innovative technology and effective human resource ...read more.

Middle

Replacement schedule contains monthly installment in which amount of markup and principle (deducting adjusted amount of principle from the actual principle amount) term finance is profitable for the bank because it generates regular income for bank. ACBL issue two types of Term Finance a. Clean term finance b. Secured term finance Clean Term Finance These loans are extended without holding any security by the bank. ACBL extend clean finance only to Army personnel against their salary account and after the approval of their commanding officer. Every commissioned officer of Army can take loan. Rate of mark up is 12%. If customer applies for Rs.25, 000 then branch credit can extend this loan but if the amount is greater then it is approved by the high level. Secured Term Finance Secured term finance is for business entities. These finances are extended against security like stock or inventory. Cash security margin is received the major portion of security is pledge and remaining is hypothecation or mortgaged so pledged security is the prime security. The business entities can avail this facility for the following three purposes. * Business Existing plant is running and expansion in it is needed. * Modernization To running plant for modernization * Replacement To running plant for replacement of machinery. iv. Term Finance DHA (Defense Housing Authority) ACBL provide term finance its customer and especially army personnel to apply for different schemes of DHA. The customers fill the application from of DHA and submit it with initial deposit in ACBL. The bank provides 90% of initial deposit as loan and also receives the processing charges. If their application is accepted then bank also provide credit facility for the payment of remaining amount. If the application is not accepted then bank will refund customer amount and mark up is charged at daily basis. v. Staff Finance This facility is provided for the staff of ACBL. ...read more.

Conclusion

The bank is trying to introduce latest techniques on regular basis because it is backed by AWT that's why people have complete confidence on them. ACBL has won the confidence of all its customers by providing them the online services within few seconds. The future of bank is progressive and will be a leading bank of Pakistan even competing with foreign banks. FUTURE OUT LOOK The operating environment for banks in 2006 will be very challenging in the wake of intense competition in the pricing of assets and liability products. The erosion of banking spread will force the banks to offer improved and innovative products and services in an effort to produce better results. The bank continues to pursue strategic expansion of its nation-wide branch network, which reached 98 by the end of the year. Further expansion is planned and is in progress. The bank will also be looking at augmenting its existing delivery channels with new IT backed channels to boot customer convenience .the bank will continue to monitor the credit growth strictly on the basis of quality, risk and pricing aimed at improving returns on assets and capital. It will in 2006 further consolidate its corporate identity and offer its clients a better service and more customized products. Through this more focused approach, it will endeavor to out perform the competition. We remain committed towards improvement in stakeholders' value by diversifying our product range, devising innovative products in order to maintain a competitive edge, and invest in people and technology to enable the Bank to achieve growth in business, improvement in customer service and ultimately an increase in profitability. According to Lt. Gen. Waseem Ahmed Ashraf (chairman): "We will INSHALLAH in 2007, further consolidate our corporate identity and offer our Client a better service and more customized products. Through this more focused approach, we will endeavor to out perform the competition." ?? ?? ?? ?? 1 Askari Commercial Bank Limited 1 ...read more.

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