INTERNSHIP REPORT
Brief introduction of FWBLS business Sector
First Women Bank Ltd. a commercial bank and a DFI, caters to women at all levels of economic activities - Micro, SME and Corporate, thereby enabling them to transcend their status from passive beneficiaries to dynamic agents of change.
HISTORY
First Women Bank Limited was incorporated as a Scheduled Commercial Bank in Public Sector as Public Company Ltd by shares on 21st November 1989 Under Companies Ordinance 1984 & Commenced its business on 2nd December 1989 with a paid up capital of Rs. 100, 90% of which was contributed by five leading public sector Banks of the country viz: National Bank of Pakistan, Habib Bank Limited, Muslim Bank Commercial Limited, United Bank Limited and Allied Bank of Pakistan Limited in varying proportions and 10% had come from Federal Government.
MISSION
Financially sustainable bank with a specialized focus on promoting economic prosperity and self reliance in women of urban and rural areas
VISION
To be the lead Bank for women, dynamic, adaptive and responsive to their special economic needs, offering the best financial services and the best banking practices
NATURE OF ORGANIZATION
Receiving Deposits Advances of Money Safe Custody Transfer of Money General Utility Services
BUSINESS VOLUME
FWBL crosses Rs. 1 Billion in Profit
Best out reach to women (loan disbursed) Balance sheet size/ Total Assets PACRA credit Rating Long Term Short Term Recovery Rate Rs. 8.5 Billion Rs. 10.503 Billion
BBB+ A2 98%
PRODUCTS AND SERVICES
Micro Financing SME Financing Business Loans For Women Education Loans for Women Personal Loans For Women First Choice First Car First Home Financial Services Desk
PRODUCTS & SERVICES
ORGANIZATIONAL STRUCTURE
ZARINE AZIZ (PRESIDENT) Charmaine Hidayatullah Head of Legal & Security, EVP Shahid Siddique Amjad Mughal Head of Finance & Planning Shafqat Sultana Head of SME, EVP Tauqir A. Siddiqui CIO & Head of Information Technology Naushaba Shehzad Dy. Head Credit Mustansir Rao Treasurer Ferozeali Hussaini Dy. Head Risk Management Division Mr. Abdul Ghafoor Head of HRD
ORGANIZATIONAL HIERARCHY
BOARD OF DIRECTORS: Chairperson & president/CEO
AUDIT COMMMITTEE
EXECUTIVE COMMITTEE
ASSETS & LIABILITIES MANAGEMENT COMMITTEE
CHIEF FINANCIAL OFFICER
COMPAN Y SECRET ARY
TREASUR ER
LEGAL ADVISOR S
AUDITOR S
TAX CONSULT ANT
COMPETITORS
National Bank of Pakistan Habib Bank Limited Muslim Bank Commercial Limited United Bank Limited and Allied Bank of Pakistan Limited & ALL COMMERCIAL BANKS.
MAIN OFFICES
Sindh & Baluchistan Region Imperial Court Branch Karachi Punjab Region Main Boulevard Branch Lahore Islamabad Region Blue Area Branch Islamabad NWFP Region The Mall Branch Peshawar
NUMBER OF EMPLOYEES
Number of employees in FWBL as mentioned by head of HR, Mr. Abdul Ghafoor, is 542. The number of employees from 2000-2008.
BREIF INTRODUCTION OF THE BRANCH
First Women Bank Limited, Lyari Branch B/2 38, BLOCK 2, P.E.C.H.S, Karachi
STARTING AND ENDNG DATES OF INTERNSHIP
Its a two month internship from 17 DEC,2008 till 17 FEB, 2009
DEPARTMENT IN WHICH I GOT TRAINING
ACOUNTS DEPARTMENT FINANCE DEPARTMENT
FINANCE & ACCOUNTING OPERATION
ACCOUNTING OPRATIONS:
Accounts : Cash: Reconciliation of PAK Account: Daily Position of the Bank Daily Voucher Posting PLS & Current Remittance, DD, TT , MT & Pay order Clearing: Inward Clearing & Outward learning
FINANCE OPERATIONS:
Receive demand deposits and pay customers' checks drawn against them, and operate Automated Teller Machines (ATMs); Receive time and saving deposits, issue negotiable orders of withdrawal (NOWs), and pay interest thereon, as well as provide automatic transfer services for funds from saving accounts to cover checks;
DETAILED DISCRIPTION OF THE PROJECT ASSIGNED
DAILY PROJECTS: Daily position of Branch SBP data Posting of cheques Inward clearing Outward clearing Letter writing Drafting of different statements. WEEKLY: Weekly SBP data ONE TIME ASSIGNMENT: Posting of Loans in ECIB Electronic Credit Information Bureau (I have learned)
CRITICAL ANALYSIS
Horizontal analysis & Vertical analysis
SWOT Analysis
STRENGTH: BRAND NAME HUGE NETWORK MARKET SHARE WEEKNESSES: Focuses to womens mainly Less number of branches comparatively It appears that the bank has shortage of staff Bank's advertisement policy appeared to be less attractive OPPORTUNITY: Competitor going bankrupt Broadband technology has been installed in the area THREAT: Existing product becoming unfashionable or unpopular Large and increasing competition
Recommendations for improvement
On the basis of the conclusions drawn, the recommendations are presented below: 1. The bank need to increase its staff. 2. The bank need to appoint more professional staff. 3. The branch network of the bank in the country need to be increased. 4. More range of loans need to be introduced. 5. The bank need to strengthen its advertisement policy. 6. The facilities for the lady customers need to be increased. 7. More modern techniques of banking need to be implemented by the bank. 8. The target market research to be made effective.
CONCLUSION
