CHAPTER -1

Overview or Profile of IFIC Bank Limited

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1.0 INTRODUCTION OF IFIC BANK LIMITED

International Finance Investment and Commerce Bank Limited (IFIC Bank) is a
banking company incorporated in the People's Republic of Bangladesh with limited
liability. It was set up at the instance of the Government in 1976 as a joint venture
between the Government of Bangladesh and sponsors in the private sector with the
objective of working as a finance company within the country and setting up joint venture
banks/financial institutions abroad. The Government held 49 per cent shares and the rest
51 per cent were held by the sponsors and general public. In 1983 when the Government
allowed banks in the private sector, IFIC was converted into a full-fledged commercial
bank. The Government of the Peoples Republic of Bangladesh now holds 35% of the
share capital of the Bank. Leading industrialists of the country having vast experience in
the field of trade and commerce own 34% of the share capital and the rest is held by the
general public. The Bank is being managed by a group of highly experienced
professionals with diversified experience in finance and banking. The Management of
the bank constantly looks after customers satisfaction and believes that a satisfied
customer is a great Ambassador. The bank has already ranked as one of the quality
service providers & is known for its reputation. The offers the full range of banking
services for personal and corporate customers, covering all segments of society within the
framework of Banking Company Act and rules and regulations laid down by our central
bank. All activities of the Bank including its products and services are mainly for
different economic groups of Bangladesh at home & abroad. Bangladeshi expatriates
living abroad in different countries form a strong economic group who contribute greatly
towards the economic development of the country.

1.1 VISIONS OF IFIC BANK LIMITED

To be the best private Commercial Bank In Bangladesh and International in terms of
efficiency .capital adequacy .asset quality .sound management and profitability having
strong liquidity.

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1.2 MISSION OF IFIC BANK LIMITED

IFIC mission is to provide service to our clients with the help of a skilled and dedicated
workforce whose creative talents, innovative, actions and competitive edge make our
position unique in giving quality. Service to all institutions and individual that we care
for. We are committed to the welfare and economic prosperity of the people and the
community. For we drive from them our inspiration and drive for onward progress to
prosperity. We want to be the leader among banks in Bangladesh and make our indelible
mark as an active partner in regional banking operating beyond the national boundary.
In an intensely competitive and complex financial and business environment. We
particularly focus on growth and profitability of all concerned.

1.3 GOALS AND OBJECTIVES OF IFIC BANK LIMITED

Maximization of profit through customer satisfaction is the main objective of the Bank .in
addition .the others relevant objectives are:
1. To be market leaders in high quality banking products and services.
2. Active excellence in customer service through providing he most modern and
Advance state of art technology in the different spheres of banking.
3. To participate in the industrial development of the country to encourage the new
and educated young entrepreneurs to undertake productive venture and
demonstrate their Creativity and there by participate in the national development.
4. To provide credit facilities to the small and medium size entrepreneur located in
urban and sub urban area and easily accessible by our branches.
5. To reduce dependence of moneylender.
6. To make the small and medium enterprise self --reliant.
7. To develop saving attitude and making acquaintance with banking facilities.
8. To inspire for undertaking small projects for creation employment through
income.
9. To ensure the high return on investment
10. To strive for profit and sound growth.
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11. To play a significant role in the economic development of the country.

12. To protect money laundering.

1.4 CORPORATE INFORMATION PROFILE

Name of the Company

International Finance Investment and

Commerce (IFIC) Bank Limited

Legal Form

Company Registration Number

IFIC Bank Limited was incorporated in

Bangladesh and registered with Joint Stock
Companies and Firms as a public company
limited by shares
4967,Dated October 08,1976

Authorized capital

Tk 1600 Million

Paid up capital

Tk 671 Million

Listing Status

Listed with Dhaka stock Exchange Ltd .

(DSE) and Chittagong stock Exchange
Ltd . CSE In 1986 $1995 Respectively .

Market Category

A category

Tax Payer Identification Number ( TIN)

Vat Registration Number

210-200-0537,LTU,DHAKA
9021077014

REGISTERED OFFICE

BSB Bhaban (17th ,18th ,19th floor )

8 Rajuk Avenue, Dhaka -1000
Tel:9563020-29,fax.9562015
TelexIFIC BD
E-MAIL--:info@IFICbankbd.com
Web:www.IFICbankbd.com

Auditors
Name of Chairman

Howladar Yunus & Com. Chartered

Accountants
Mohammad Lutfar Rahman

Name of Managing Director

Mosharuf Hossain

Number of employees

3152

Number of Branches

82
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Number of Shareholder

9562

1.5 BOARD OF DIRECTORS

Board of Directors
1
2
3
4
5
6
7
8
9
10
11
12
13

Mr. Mohammad Lutfar Rahman

Mr. Abu Tahir Mohammad Golam Maruf
Mr. Murshed Murad Ibrahim
Mr. Aminur Rahman
Mr. Md. Yasin Ali
Mr. Didarul Alam
Chowdhury Nafeez Sarafat
Mr. Gulzar Alam Chowdhury
Mr. Tanim Noman Sattar
Mr. Mahmudul Huq Bhuiyan
Mr. Arastoo Khan
Mr. Syed Monjurul Islam
Mr. Mohammad Ali Khan, ndc

Chairman
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director

1.6 LIST OF THE ALL BRANCHES OF IFIC BANK

LIMITED
SERIAL
CODE BRANCH NAME
NO

BRANCH
MNUMONIC

1
2

0801
ASHU

2030
1197

AGRABAD BRANCH
ASHULIA BRANCH

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3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48

1112
1096
6187
1011
5064
3138
6188
4166
6082
4067
2034
2054
6086
2040
2050
2035
2148
2044
1193
1006
6083
1014
1023
2152
1008
2041
1109
3151
1002
2137
9900
1005
4061
1017
1195
2031
4060
1121
4062
1025
2153
1118
1019
1094
1001
1004

BAJITPUR BRANCH
BANANI BRANCH
BANESHWAR BRANCH
BANGSHAL BRANCH
BARISAL BRANCH
BEANI BAZAR BRANCH
BELKUCHI BRANCH
BENAPOLE BRANCH
BOGRA BRANCH
BORO BAZAR BRANCH
BRAHMANBARIA BRANCH
CDA AVENUE BRANCH
CHAPAI NAWABGANJ BRANCH
CHAWK BAZAR BRANCH
CHOUMUHANI BRANCH
COMILLA BRANCH
COMPANYGANJ BRANCH
COX'S BAZAR BRANCH
DANIA BRANCH
DHANMONDI BRANCH
DINAJPUR BRANCH
ELEPHANT ROAD BRANCH
FARIDPUR BRANCH
FATIKCHARI BRANCH
FEDERATION BRANCH
FENI BRANCH
GHORASAL BRANCH
GOALA BAZAR BRANCH
GULSHAN BRANCH
HATHAZARI BRANCH
HEAD OFFICE
ISLAMPUR BRANCH
JESSORE BRANCH
KAWRAN BAZAR BRANCH
KERANIGANJ BRANCH
KHATUNGANJ BRANCH
KHULNA BRANCH
KONABARI BRANCH
KUSHTIA BRANCH
LALMATIA BRANCH
MADAM BIBIR HAT BRANCH
MADHABDI BRANCH
MALIBAGH BRANCH
MOHAKHALI BRANCH
MOTIJHEEL BRANCH
MOULVI BAZAR BRANCH

BJIT
BANA
BNSW
0808
BARI
BEAN
BELK
BENA
0812
BORO
BBAR
CDAB
CHAP
CBZR
CHOU
COMI
CPNY
COX
DANI
0814
DINA
0810
FDP
FATK
0807
FENI
GHO
GOAL
0802
HATH
HO
0799
0811
0816
KERN
0800
0804
KONA
KUSH
LAL
MBHB
MADB
MALI
MOHA
0796
0797

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49
50
51
52
53
54
55
56
57
58

3046
1115
1022
6085
1003
1110
1029
1020
1016
4163

59

1028

60
61
62
63
64
65
66
67
68
69
70

6084
1027
1173
6080
6081
1198
4065
1171
2042
1007
1092

71

2132

72
73
74
75
76
77
78
79
80
81
82

2045
3047
1090
3043
3033
1126
1091
2036
3139
3049
1024

MOULVI BAZAR BRANCH (DIST.)

MUKTARPUR BRANCH
MYMENSINGH BRANCH
NAOGAON BRANCH
NARAYANGANJ BRANCH
NARSINGDI BRANCH
NAWABPUR ROAD BRANCH
NAYA PALTAN BRANCH
NETAIGANJ BRANCH
NOAPARA BRANCH
NORTH BROOKE HALL ROAD
BRANCH
PABNA BRANCH
PALLABI BRANCH
PANCHABOTI BRANCH
RAJSHAHI BRANCH
RANGPUR BRANCH
RUPGONJ BRANCH
SATKHIRA BRANCH
SAVAR BAZAR BRANCH
SHAH AMANAT MARKET BRANCH
SHANTINAGAR BRANCH
SHARIATPUR BRANCH
SHEIKH MARKET BRANCH (OLD)/
NOZUMIA HAT BRANCH (NEW)
SHEIKH MUJIB ROAD BR
SHREEMONGAL BRANCH
STOCK EXCHANGE BRANCH
SUBID BAZAR BRANCH
SYLHET BRANCH
TAKERHAT BRANCH
TANBAZAR BRANCH
TERRI BAZAR BRANCH
TULTIKAR BRANCH
UPOSHOHAR BRANCH
UTTARA BRANCH

MBD
MKT
MSIN
NAOG
0798
NAR
0817
NAYA
NTG
0815
NBHR
PBNA
PLLB
PANC
0805
RANG
RUP
0813
SAVR
SAM
SHAN
SHAR
NOJU
SMR
SMGL
STOK
SUBD
0803
TKHT
TANB
0809
TULT
UPO
0818

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Map of the Branches of IFIC Bank Limited

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1.7 PRODUCTS
Simply product is a solution of customer needs and wants. A product is an element in the
market offering. Product is anything that can be offered to a market for attention.

IFIC CARDS

IFIC Card is powered by VISA, world's largest electronic payments network. IFIC Bank
has been issuing VISA branded Credit Card, Debit Card & Prepaid Card. Customer can
choose any of the above card according to his/her need.

IFIC
CREDIT CARD

Types of Credit Cards

IFIC Bank VISA Credit Cards are issued in two types namely Gold and Classic for both
local and international use. The Local Cards can be used at any ATM displaying VISA
Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of
goods & services within Bangladesh whereas the International Cards can be used at any
ATM and POS displaying VISA logo anywhere in the world. International credit card is a
dual currency card and as such you can use the same plastic at home & abroad. Classic
cards are for lower limits and less costly.

9|Page

IFIC
DEBIT CARD

IFIC Bank VISA Debit Card can be used at any ATM displaying VISA Logo for
withdrawal of cash and at any POS displaying VISA Logo for purchase of goods &
services within Bangladesh. ATM transactions are to be secured by Personal
Identification Number (PIN) known by the concerned customer only. POS transactions
will not require PIN. However, all the transactions are to be authorized by the system
electronically. IFIC debit card is issued against any individual savings/ current account
maintained with any branch of IFIC Bank Limited. The designated savings/current
account can be operated by using the debit card without using cheques 24 hours in a day,
7 days in a week, 365 days in a year. The customers are not required to pay any charge
for transactions at Merchant Point of Sale (POS) for purchasing goods and services. For
cash withdrawal from ATM/Branches, a little charge may be applied. No interest will be
calculated on cash withdrawal or purchases. No minimum amount due and no hassle of
payment of monthly bills.

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IFIC
PREPAID CARD

IFIC Bank VISA Prepaid Card can be used at any ATM displaying VISA Logo for
withdrawal of cash and at any POS displaying VISA Logo for purchase of goods &
services within Bangladesh. ATM transactions are to be secured by Personal
Identification Number (PIN) known by the concerned customer only. POS transactions
will not require PIN. However, all the transactions are to be authorized by the system
electronically. Prepaid card is safer than carrying cash and more convenient than writing
cheques. IFIC Prepaid card is issued by the branches instantly on filling-up the
Application Form and making initial deposit. There is no need to have any account with
the Bank. Prepaid card are suitable for the customers who does not maintain any account
with IFIC. No interest will be calculated on cash withdrawal or purchases. No minimum
amount due and no hassle of payment of monthly bills.

IFIC BANK POS

Bank POS are available at all the branches of the Bank. Any IFIC Card Holder can
withdraw cash from any branch of IFIC Bank Ltd. through Bank POS. Credit Card
Holders can withdraw cash up to 100% of their credit limit.

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Customer Care
Customers can feel free to visit our Card Division on any working day or dial 9559703 or
PABX: 9563020 Ext. 500, 502 or Fax: 9570282 or email: mailto:'card@IFICbankbd.com'
for further information. Please dial 9559703 or 01713229817 at any time for help.

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LEVELS OF PRODUCTS

1 POTENTIAL
PROUCT

2 PRODUCTS
AUGMENTED

5 CORE
BENEFIT

3 EXPECTED
PRODUCT

4 BASIC
PRODUCTS

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1.8 PRODUCT DECISION (IN BANK)

Tight product decision in the tight time is essential for all organization. If focuses on
decision about product attributes branding, pack aging, labeling and product support
services IFIC BANK LIMITED
PRODUCT ATTRIBUTES:
Developing a product or service involves defining the benefits and design. In case of
IFIC Bank Limited .various deposit schemes are product.

Product Attributes

Branding

C.S.S

Packaging

Attractive Brochures

Various Deposit
Schemes

Labeling

Product Support
Service

Distinction From
Others

80% Loan Facility

after 3years

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1.9 NEW PRODUCT PLANNING PROCESS:

New product planning is guided by customer needs analysis:

Customer Needs Analysis

Idea Generation

Screening and evaluation

Business Analysis

Business Analysis

Screening & Evaluation

Testing

Commercialization

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UPCOMING SERVICE
1. ATM
2. BANKING SOFTWARE
3. TELE BANKING
4. INTERNET BANKING

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CHAPTER -2
Introduction to the Report/Study

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2.1 INTRODUCTION TO STUDY

International Finance Investment and Commerce Bank Limited (IFIC Bank) is a
banking company incorporated in the People's Republic of Bangladesh with limited
liability. It was set up at the instance of the Government in 1976 as a joint venture
between the Government of Bangladesh and sponsors in the private sector with the
objective of working as a finance company within the country and setting up joint venture
banks/financial institutions abroad. The Government held 49 per cent shares and the rest
51 per cent were held by the sponsors and general public. In 1983 when the Government
allowed banks in the private sector, IFIC was converted into a full-fledged commercial
bank. Diversifications of products and services and innovation of products suited to the
needs of the customers in keeping with relevant rules laws have made it different from
other local commercial banks of the country. This bank is committed to provide high
quality financial services to the people to develop of the nation. Effective Credit
Administration can ensure good recovery of loan and advance and good interest. Most of
the share of the total profit comes from credit operation and the existence of the bank
depends on accumulated assets that they get from clients or customer. What bank do they
collect surplus money from customer and give to them who need this money. On this
process bank charge interest for giving credit and give interest for collecting money.
Training and Development is vital issue of Human Resource Management. By using
Training and Development process any bank can improve their performance and also
activity level. Employee can survive and they have the opportunity to over come any
obstacles. By using Training and Development process organization make satisfies to
there employee can improve their abilities and skills.

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2.2 RATIONALE OF THE STUDY

This study will helpful to have an idea about real world situation. Moreover completion
of internship is mandatory for the fulfillment of BBA degree. This experience will help in
my professional life. I have been place in IFIC bank for my internship. So I shall work
on different aspects of this bank. However the better performance of all organization
depends on its complaint human resources. The competence of HR can be increased
through proper training and development. This will help to provide better service to their
customers, which is important for increase the productivity and profitability for the bank.
As such I have decided to conduct my internship on training & development system of
the organization.

2.3 STATEMENT OF THE PROBLEM

Human Resource is one of the most important assets and also as part of the organization
concerned with the people dimension. The present day workforce is quit different from
yesterday and this change is continuing. As jobs in todays dynamic organizations have
become more complex and challenging, the importance of employee education and
training has been increasing. Every organization needs to have well adjusted, trained an
experienced people to perform the activities to achieve the organizational goal. When
jobs are simple, easy to learn and influences on only a small degree by technological
change, there was little need for employees to upgrade or alter their skills. But that
situation rarely exists today. Instead, rapid job changes are occurring, requiring employee
skills to be transformed and frequently updated. In organizations, this takes place through
employee training.
In general, training refers to a planned effort by a company to facilitate employees
learning of job-related competencies. Inadequate job performance or a decline in
productivity or changes resulting out of job redesigning or a technological break-through
require some type of training and development efforts. As the job become more complex
importance of employee development also increases. In a rapidly changing society,
employee training and development is not only an activity that is desirable but also and
activity that an organization must commit to maintain a viable a knowledgeable
workforce. The goal of training is for employees to master the knowledge, skill and
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behaviors emphasized in training programs and to apply them to their day-to-day

activities.
More employees today are taking advantage of the fact that training can strengthen
employee commitment. Few things illustrate a firms commitment to its employees more
than continuing development opportunities to better themselves and such commitment is
usually reciprocated. Training has become a mandatory tool to survive in the hard facing
workforce. To accelerate the over all human recourse management achievement, training
works as a major part of its dimensions.
The banking sector in Bangladesh is very much competitive. More over customers are
becoming more demanding and sophisticated day by day. In order to meet their
increasing demand the organization has to provide better services to their customer. For
this reason employees and executives have to provide with modern learning and
knowledge. Training is the only ways to enrich this learning. The training program o
introduced by the bank could not meet the expectations of sophisticated customer. In
order to develop creativity, innovativeness, and enabling capability of human resources
the bank has to update their training program with the changing needs of customers. So
that they can maintain their competitive edges. As such I have decided to study training
and development aspects of the Bank. Different issues covered for the study to serve our
purposes are:

HRM Training & Development includes:

o Globalization
o Technology
o Work force diversity
o Changing skill requirements
o Continuous improvement
o Work process reengineering
o Decentralized work sites
o Employee involvement

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These types of training & development criteria are not always followed in private and
public organization of Bangladesh and this is our job to find out the cause and impact of
the problem.

2.4 SCOPE AND DELIMITATION OF THE STUDY

This study will deal with the HR department of IFIC Bank, where training &
development practice is vital issue. This study will be confined to the Mohakhali Branch
of IFIC Bank. The overall function will perform in the bank and will be covered for the
study. The corporate office of the bank will also be contacted to have meaningful
information about the study.

2.5 OBJECTIVE OF THE STUDY

The objectives are as follows:
Broad objective:
The Primary purpose of the study is to have thorough understanding about the bank
training & development in IFIC bank.
Specific objectives:
To know about the training and development policy of the IFIC.
To reveal how to identify training needs of employee and executives.
To examine the current training& development program of IFIC bank.
To find out the multiplicity of the training and development program imparted to
the people in different functional areas of the organization.
To evaluate the employee performance of IFIC Bank after getting training.
To measure the attitude of employee toward training.
To highlight the system used for evaluating of effectiveness of training.

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2.6 METHODOLOGY OF THE STUDY

Data Sources

Primary sources

Secondary sources

Verbal Interview,
Questionnaire, discussion
etc.

Articles, Newspaper,
magazine, Internet, IFIC
Report etc.

Both primary and secondary data will be collected for the study. Primary data will be
collected through standard questionnaire and interview method. The questionnaire will
prepare on the basic of the objective of the study. Secondary data have been collected
from the text books, annual report of the bank, published documentation of the bank,
internet etc.

Primary data analysis:

I had done survey for my data collection. I personally went to responded and asked
relevant question and collected data. I prepare questionnaire and ask them to fill it.

Secondary data analysis:

I also browsing different website in internet for more information. I read different article
in paper and magazine for know more about it.

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2.7 LIMITATION OF THE STUDY

Every matter has got some limitation. So this is also not an exception. The limitations of
this internship report are been sated below:
a) Due to time and cost restriction, the study is concentrated in selected areas of the Bank.
. To continue study in such a vast are requires a big deal of time. As an internee I had
only three month which is not enough.
b) As a financial organization the bank used to maintain confidentiality of their valuable
data. As a result the study is mostly depends on official files and annual reports.
c) It was very difficult to verify the accuracy of the collected data. Available data also
could not be verified.
d) IFIC as a private commercial bank they are very busy and they could not able to give
me enough time for discussion about various topics.
Though there are some limitations I have tried my best to collect adequate data and
information to make the report meaningful.

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CHAPTER -3
Analysis and Interpretation of the Data

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3.1 HUMAN RESOURCE DEVELOPMENT OF IFIC

Human resource development is an essential pre-requisite for achieving organizational
goals. No organization can run successfully in a changed environment without
developing its employees human qualities. Training is a recognized way through which
organization could help improving its employees efficiency. It is also an on going
systematic process. It helps to bring about developmental changes in knowledge, skill and
attitude of an employee.
Human Resources Development is focused on recruitment and in-house training for both
on the job and off the job Bank staff members through the Banks Academy. IFIC Bank
Academy the oldest institution in the private sector was conceived of as an in-house
training center to take care of the training needs of the Bank internally.
Academy is fully equipped with a professional library, modern training aids and
professional faculty. Library has about 4941 books on banking, economics, accounting,
management, marketing and other related subjects.
Main training activities consist of in-depth foundation programmers for entry level
Management Trainees. Specialized training programmers in the areas like general
banking, advance, foreign exchange, marketing and accounts etc. are also organized by
the Academy depending on need.
Frequently outreach programmers are organized to meet demand for new and specialized
skills.
During its 25 years of existence, Academy not only conducted courses, workshops and
seminars as required by the Bank, but it also organized training programmers for the
Bank of Maldives, Nepal Bangladesh Bank Limited and Oman International Exchange

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LLC. In addition, Academy has also the credit of organizing system of Bank of Maldives.

In addition to conducting courses internally, The Academy also selects candidates for
nomination to various courses conducted by distinguished training organizations in the
country including Bangladesh Bank Training Academy and Bangladesh Institute of Bank
Management.

The Academy also re-designs its courses, programmers etc, regularly to meet the
requirement of new skills arising out of various directives, guidelines of the Central Bank
and significant changes in the banking sector from time to time.

3.1.1 HR POLICY
Policy is guideline to action Human Resource policy is the most vital element of
corporate policy since it guides recruitment, selection, orientation training and placement
of personnel. Apparently human resource policy is concerned with proper use human
required for undertaking activities in order to achieve corporate goals and objectives.

3.1.2 AIMS OF HRM POLICY

Human resources policy generally aims at the following
Achieving the main objectives of the organization.
Creating committed employees.
Developing trained personnel.
Consultative service to employees.
Managerial leadership.
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 Delegating of authority.
Co-operation to and from employees
Security of employments.
Opportunity to growth.
Fair salary.
Objectives evaluation of work.

3.2 MAIN OBJECTIVE OF HRM

Establishment and maintenance of an adequate organization structure and
promotion of harmonies working relation among the members of all levels on
companys pay roll.
Integrating the employees and employee groups with company and there by
obtaining their commitment, loyalty and involvement in companys work and
high level of productivity.
Effective utilization of the organizations human resources for achieving goals of
the organization.
Recognizing and satisfying employee goals and group goals for motivation.
Taking appropriate steps to maintain employee morale at high level and ensuring
adequate work performance.
Providing opportunity for individual growth and development in the firm tough
job satisfaction.

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3.3 ACTIVITIES OF HRM

HRM has a significant role in today IFIC and must be forward thinking. They must take
the lead in assisting good achievement with the people component of the organization.
Under the guidance of HRM, employees of an organization can assist it in gaining and
maintaining a competitive advantage. Attracting and maintaining such employees require.
HRM of IFIC will also recommend and implement changes regarding where necessary.
Human resource management has its focus mainly on balancing the needs, goals,
objectives and values of both employers and employees. Polices form rules of conduct
and they should be based on the following principles.
Putting right man in the right place by a careful program of selection procedure
and placement to make sure that the new recruit is physically, mentally and
physically, mentally and psychologically fit for the job to be performed. This is
needed for the new employee to develop and grow.
Training the new recruits for developing technical competence to perform so that
they can discharge their duties and responsibilities efficiently.
Transforming the organization into a coordinated entity of different departments
permitting reduction of interpersonal and interdepartmental function and
conflicts.
Ensuring employee security with opportunity, incentive and recognition, thereby
encouraging employees to stick to their jobs in the hope of advancement in the
organization and thereby reducing turnover and loitering.

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 Supplying proper equipment and promoting right conditions of work to facilitate

production at lowest possible cost.
Looking ahead and ensuring production and distribution of superior quality foods
and services for catering to the rising and changing requirements of the
consuming public.
Rewarding star performers. Reward should be earned, not given.

3.4 TRAINING & RESEARCH OF IFIC

Human Resource Development activities aim at fulfilling the banks mission. One of IFIC
four major missions is to: Provide service to our clients with the help of a skilled and
dedicated workforce whose creative talents, innovative action and competitive edge make
our position unique in giving quality service to all institutions and individuals that we
care for.
Skilled and dedicated workforce with creative talents, innovative action is not always
readily available. Appreciating the scarcity of such manpower, the bank from the very
beginning laid important to HRD that conceptually includes activities like: prerecruitment drill, recruitment, induction training training in the academy, job rotation,
placement and posting, reward and promotion. All these activities are planned by the
bank in an integrated way aiming at manpower with required technical, managerial,
human and conceptual skills.
Management of IFIC bank not only appreciates the need of skills required for day to day
banking but also realize the need of skills meet the national and global financial and
economic environment that are changing fast.

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3.4.1 EMPLOYEES TRAINING OF IFIC

IFIC employs a large number of employees for performing various jobs. Some of them
are newcomers. They need more knowledge and skill for better performance of jobs.
They are, therefore, in need of proper training to contribute to the achievement of the
organizational goals. There are some jobs that require little or no training but many of
them need to be performed by adequately training. The use of modern technology has
created new jobs in the organization, which required training.

Training involves the change of skills, knowledge, attitudes or behavior of employees.

Although training is similar to development in the methods used to attract learning, they
differ in time frames. Training is more present day oriented; its focus is on individuals
current jobs, enhancing those specific skills and abilities to immediately perform their
jobs. Employee development, on the other hand, generally focuses on future jobs in the
organization.

Training differs from education. Training is concerned with increase in knowledge, skills,
and abilities of the employees in doing a particular job. It has a narrow aim limited to
increase in knowledge and skill related to a job. Education, on the other hand, broadens
the mental faculties and horizon of knowledge. It is concern with enhancing general
knowledge and motivating one to understand the total environment.

Training is often understood as a learning experience. So, if employees are to understand

what training can do to improve an employees job performance, employee should begin
by explaining how learn.

30 | P a g e

Training widens job related knowledge of the employee. Employees become more skilled
and update their knowledge through training. Training provides necessary instructions for
performing the current job efficiently. Training differs from education and development.

Imparting of training to the employees has become very much important in modern times
for better performance of the job. Here it can be said that the question of training does not
arise but making choice of the method of training arise.

3.4.2 EMPLOYEE TRAINING METHOD OF IFIC

After successful selection process they start there own strategy to make a very effective
man power. They have divided there training and development process in the following
sections. All this training are arranged and taken by support and development segment.
1. Service mind set
2. Service based training
3. Value added service based training
4. Computer skill

3.4.3 TYPES OF TRAINING PROGRAMS

For fresher, foundation courses on elementary knowledge of banking are organized.
Specialized courses on the area like credit, foreign exchange, accounts, inspection and
marketing etc. are meant for officials working in those areas. Higher level courses are run
on specific knowledge area. Certain courses are a blend of different knowledge areas. In
addition, certain priority programmers are also being conducted by the academy. These
include programs on Basel-II Accord, Productivity Improvement, Money Laundering
Prevention, new skills required to perform new jobs.

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CONCEPTUAL FRAME OF
TRAINING PROGRAMMES

EXECUTIVE
DEVELOPMENT
PROGRAMMES

MANAGERS
CONFERENCE

TOP
LEVEL

MANAGEMENT
WORKSHOPS

SENIOR
LEVEL
EXECUTIVE
DEVELOPMENT
PROGRAMMES

SPECIALIS
ED
COURSES
ON

JUNIOR
LEVEL

FOUNDATION
COURSE FOR
PROBATIONARY
OFFICERS

SPECIALISED
COURSES ON
FOREIGN
EXCHANGE

FOUNDATION
COURSE FOR
OFFICERS
GRADE- II

ADVANCE
COURSES

COURSE
ON
MARKETI
NG

BASIC COURSE
FOR
CASH/COMPUTER
OFFICERS

FOLLOW-UP
AND
EVALUATION
COURSES

INDUCTION
COURSE FOR
OTHER
EMPLOYEES

32 | P a g e

MID
LEVEL

3.4.4 APPROACHS TO TEACHING

The academy holds need-based training courses/workshop/seminars etc. which are
finalized by Training & Research Division in constantly with various department and
senior executives at Head Office. Training inputs are constantly reviewed / modified for
achieving

the

banks

objective.

Methods

in

training

include:

discussion/

lecture/workshop/case study/games/ role play/ film show/ simulation/group work &

Presentation/ project visit and so on.

3.4.5 ON-THE-JOB TEACHING

Foundation courses have two parts: theoretical training in the academy and job rotation.
The officers on probation are required to undergo both in a period of one year. During
this period, three-phased training programs are effective. On theoretical training say,
general banking, the officers are required to undergo rotation in general banking activities
under the supervision of HRD. Similar process is followed in case of CRM & Foreign
Exchange.

3.4.6 THE ACADEMY OF IFIC

At the very beginning the bank laid a foundation by setting up an academy at Head Office
under Human Resource Development Division to human resource internally. Equipped
with a professional library, modern training aids, knowledgeable faculty and other
facilities, the academy of the bank had been a leading one among the banks on private
sector.
The academy regularly conducts foundation course, specialized courses and seminars in
different areas of banking to take care of the professional banking needs. In addition,
officers are regularly sent to Bangladesh Institute of Bank Management (BIBM) and
33 | P a g e

Bangladesh Bank Training Institute (BBTA) for professional training. Sending officers
abroad for higher training is regular feature. A research department also works in aid of
HRD operational areas.
In the year 2008, the academy has conducted 31 programmers (including training,
workshop and seminar) where a total number of 1059 Executives and Officers attended.
Besides, 56 Executives and Officers for BIBM training, 13 Executives and officers sent
for BBTA training and 7 Executives and officers were sent abroad for foreign training.

ACADEMY OBJECTIVES OF IFIC

IFIC Bank Academy, establish in 1983 as an in-house training institution, takes care of
the training need of the employee of the bank. The objectives of the Academy are to:

Make available skilled and dedicated workforce within shortest possible time by
reducing time required for on the job training.
Develop understanding about law and practice of banking through foundation
training.
Impart technical skill to the operation level officers through case studies/practical
exercises/ demonstration/project visit for efficient desk operation.
Develop analytical & decision making skills of the officers.
Develop understanding about human/conceptual skill and organization culture.
Impart managerial skills to groom future executive and to keep existing
Executives up-to-date with national international environment.

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3.4.7 FACULTY
The academy has built up a pool of knowledgeable/competent trainer within the bank. In
addition to permanent and professional trainers, speakers are drawn from operational side
so that on the job experience may be exchange and shared. Over and above, speakers
from Central Bank, professional training institutions, universities, research organizations
and Govt. organizations are also invited to share views and experience. Senior and retied
bankers are also regularly to enhance effective of training.

3.4.8 LIBRARY
The academy has a good collection of books, journals and magazines. The books are
mainly on subjects like banking, economics, accounting, management and marketing etc.
As on December 31, 2008 the library had 5,653 books/titles. The books are issued t the
employees usually for one month

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3.5 Analysis of the survey

Strongly Agree

60%

Disagree

5%

Neutral

5%

Agree

30%

Strongly Disagree

0%

As we found that, the analysis shows the maximum employee gives their decision with
strongly agree so we can say or give my comments that it is a good organization.

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3.6 SWOT ANALYSIS OF IFIC BANK LIMITED

SWOT means overall evaluation of an organization by its activities such as, Strength,
Weakness, Opportunity, Threat, now I am going to discuss about IFIC BANK LIMITED

Strength:
There is much Strength in this organization from my point of view, though much strength
but I would like to discuss such type of entireties:

Strength

1st Generation Bank

75 Numbers of Branches

Work force Number 2251

35% of Govt. shares

IFIC BANK LIMITED is the 1st private generation Bank in banking environment in
Bangladesh & it provides customer satisfaction within 25 years. Now there are 75
Numbers of Branches in six division .There are 2251 numbers of employees allover the
country & contribute of our economy by their hard and soul working, on the other hand
35% share of Govt.

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Weakness:
In my case study, I gathered some weakness in this organization which is very essential
to overcome for this organization, such as

New comers
in on Banking

Employee
turnover
tendency high

Lack of ATM

Weakness
Most of the
employees are
not adapted in
online
Banking

Marketing
Policy

Insufficient of
paid up capital

From my point of view there are many weakness in this organization .paid up capital is
not accurate in the rule of Bangladesh Bank .IFIC Bank Limited has 164.00 million
instead of 200 million. Newcomer online system, for this reason they are not totally

38 | P a g e

adapted in online Banking ATM Booth is not all over the country, they have not enough
marketing team to advertising of their product line

Opportunity:

Opportunity:

Big network through

Branches

Market Capture
through Branches

Aggressive product

IFIC BANK LIMITED has a big network to capture the whole items of customer by its
aggressive product.

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Threat:
Bangladesh is a third world country & practicing a democracy policy by this policy Bank
are affected some hassles ,which is a big threat for a Bank .on the other hand Global
recession & Rising of new generation Bank ,New generation bank are provide highest
facilities for their customer which is a lack of the IFIC bank limited .

Violence

Global
Recession

Govt.
interference

Threat

Political
system

Rising of new
generation
Bank

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CHAPTER -4
Findings, Suggestions & Conclusion

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4.1 FINDINGS OF IFIC BANK

While working at corporate Mohakali Branch, I have gained a newer kind of experience.
After collecting and analysis data I have got some idea of the IFIC bank. This idea
completely from my personal viewpoint, which is given below:
Corporate Branch, IFIC Bank Limited is well-operated branch with its strong
brand image.
IFIC Bank has big impact upon its human resource development and manage
mental.
IFIC Banks structure influences personnel activities within the department as
well as relation within others whom it is to serve.

Top Management set up the target of profit for every branch depending of the
volume of the branch position and level.

They face troubles with those clients who have not any knowledge in banking
transactions and banking rules.
From the clients view introducer is one of the problems to open an account. It is
general problem to all Private commercial bank.

IFIC Bank has recruited high skilled employees to filling its lower and mid level
position.

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 IFIC Bank has proper training arrangement of employees.

IFIC Bank has new technology for proper training.
Clients generally complain that rate of interest for various type of credit is quite
high. In many cases productivity from loaned investment is inadequate that
borrower become incapable in repaying loan.

one problem is that bank always follows the policy of risk averse in the world
today all the organization are moving in approach of risk taking. As a result it is
facing some problems and also facing competition from other bank.
The recovery of capital in small business loan section is threatened.

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4.3 SUGGESTIONS
It has a large portfolio with huge asset to meet up its liabilities and the management of this
bank is accomplished with the expert bankers and managers in all level of management
and with a little knowledge about banking, it is not an easy job to find out the difficulties
of this branch. Rather than recommending I would like to give my opinion to improve the
banking service and make the customer more satisfied.

I. Renovation of customer service

Since a number of new banks are coming to existence with their extended customer
service pattern in a completely competitive manner. Customer services must be made
dynamic and prompt. Now a days, people especially business people have very little time
to waste. So the bank should make its service prompt so that people need not give more
time in the banking activities.

II. Providing more industrial loans

It seemed to me that the bank having a large amount of deposit is not simply encouraging
the large scale of producers that is this bank is not providing that much of long term
industrial loans to accelerate the economy as well as to help the economy to solve
unemployment problem.

III. Speed up Processing of loan application

If loan-processing time is lengthy, it will not get good borrower. Most of this time is spent
for correspondence between Head Office and Branch. So the branch should speed up its
44 | P a g e

loan processing time. For reducing loan-processing time, branch manager should be given
more power to sanction loan. This power can eliminate the time. Branch should have
independent appraiser for appraising term loan proposal.

IV. Bank should be innovative and diversified in its services

This branch provides only conventional services. Modern banking today is introducing
various kinds of deposit account with different attractive features each of which may
attract different groups of people. For example, Saving Certifcate Scheme introduced by
Islami Bank is one of its unique services in the banking in Bangladesh. Even the bank does
not provide any Customer Loan facility, which has been found very much profitable for
those banks who have introduced it in their banking services.
Bank should diversify its banking services and add new features in its services so that it
can attract customers from all groups of people. Financial Engineers of IFIC Bank should
be innovative in developing new banking services, which will attract customers and reduce
costs. It can introduce customer loan scheme, provide bridge loan, or can engage in lease
financing. It can also underwrite shares of newly incorporated public companies.

V. Bank should immediately enter into the credit card market

This bank does not have any plan to enter into the Credit Card Market. It is well versed
that tomorrows payment will be consisted of only plastic money (Credit Card). A large
part of business transaction will be done by credit card in near future. In western world,
more than 50% of transactions are in credit card. If this bank does not prepare from now
on, it cannot compete in the future market. So, the branch should give special attention to
the introduction of Credit Card.

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VI. Introduce modern technology

Without using modern technology no bank can even think of remaining in the business in
near future. So the bank must decide right now how it can equip its branches with modern
technology. Use of modern technology in one sense can increase cost but another sense it
increases productivity highly and it attract big clients. It can introduce ATM services is
branch. Use of automatic machine like cash counter machine, ATM brings speed in
banking services.

VII. Information System should be developed

For information transfer, branch uses primitive ways of telex, messenger and personal
visit. It makes correspondence with the head office by peon or orderly. For international
correspondence the branch uses telex machine, which is very costly. And in the branch,
manager has to visit specific desk for collecting information. Paper communication is too
involved between manager and employees. But branch can use INTERNET for both local
and international correspondence. Email can reduce the telex cost substantially. Bank
should take urgent decision to create own WEB Page in INTERNET so that it can
communicate with others very quickly.

VIII. Development of human resources

Human resource is another sector for the branch to be developed urgently. Human
resources, in the branch, are not equipped with adequate banking knowledge. Majority of
the human resources are lack of basic knowledge regarding money, banking finance and
accounting. Without proper knowledge in these subjects, efficiency cannot be optimized.
Bank can arrange training program on these subjects.
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IX. Reduce classified loan on an emergency basis

It is observed in the Loans and Advances department that classified loan is about to 36%
of the total loan portfolio. Such a big share of classified loan indicates weakness in the
lending policy of branch. Probably banks customer selection process is not right. Bank
should take special action in order to reduce the amount of classified loan. Although
branch is maintaining the required provision for its classified loan, branch should consider
recovering classified loan on an emergency basis. For this bank should motivate the
defaulter for repaying. If motivation failed, then bank should be stringent about the
defaulter and take legal action.

X. Bank should remove the time card system

The oddest thing in this bank is that it maintains a time card system to maintain the
attendance of the employee including manager of the branch. It is definitely effective
system but it is simply used to record the work hour of the labors in any manufacturing
concern in the western countries to make their payment effectively those who are hourly
basis worker. This system cannot be employed to the high officials like Manger of the
branch etc. this creates an inferior impact on the mind of the employees that they are ill
treated which decrease their service providing quality.

XI. Bank must try to be computerized

There are computers almost in every branch in the IFIC Bank, but it does not mean that the
bank is maintaining a network among them. The networking system obviously charges a
high installation cost, but it will definitely reduce the overhead costs and an error free

47 | P a g e

banking may be in progress. Moreover by adopting this system the bank can join in
modern competition of along with e-commerce concept.

4.4 Conclusion
There are a number of Private Commercial Banks, Nationalized Commercial Banks and
foreign Banks operating their activities in Bangladesh. The IFIC Bank Ltd. is one of
them. For the future planning and the successful operation for achieving its prime goal in
this current competitive environment this report can be helpful guideline.
From the practical point of view I can declare boldly that I really have enjoyed my
Internship Report on Training and development of IFIC Bank Ltd, from the first day.
Moreover, Internship Report that is mandatory to complete my BBA program, although it
is obviously helpful for my career building.
In the last decade there has been a revolution in the communication media through the
introduction of internet and other forms of secure dial-up media. This had an immense
impact on all the sectors of the industry specially the banking sector. The number of
banks is increasing day by day because the demand of the customer for the banking
service is high .as a result there is a highly competitive situation in the banking sector and
people have many option incase of taking banking services .As a central bank of
Bangladesh The Bangladesh Bank always adopting measures for putting banking
institution on right track and also monitors the activities of these banks to prevent from
doing illegal activities.
To compete in the environment of advancing technology and faster communication the
IFIC should depend more heavily on the quality service and information technology. No
doubt about it that IFIC achieve superior position in our banking industry but to cope
with customer IFIC should think how to make it services proactive. To compete with
48 | P a g e

other banks operation in Bangladesh, IFIC should introduce easier way for faster
processing of credit analysis.

Banks always contribute towards the economic development of a country. Compared

with other Banks IFIC Bank Ltd is contributing more by investing most of its funds in
fruitful projects leading to increase in production of the country. It is obvious that right
channel of Banking establish a successful network over the country and increases
resources; will be able to play a considerable role in the portfolio of development in
developing country like ours.
IFIC Bank Ltd playing its leading role in socio-economic development of the country.
Since inception IFIC Bank Ltd has been rendering its Banking services with the needs of
the nation to cope with the demands of people in the country. By doing many other works
for state & society, IFIC Bank Ltd has emerged as the pioneer of playing key role in the
country.
As a leading bank of Bangladesh, IFIC contributes in the business with promising future.
I can hope that IFIC can spread their business with increasing various scheme and other
utility services.

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Bibliography
Books:
Smigel, L. M. (2000). Basic Training for New Managers, Delhi: Replika Press Pvt Ltd.
Noe, R. A. (2005). Employee Training and development, New York: McGraw-Hill.
Jackson, S. & Schuler R. (2006). Managing Human Resources: A Partnership
Perspective, South-Western Publishing.
Bank Publications:

Annual Reports of IFIC year 2007

Annual Reports of IFIC year 2008
Credit Risk Grading Policies of IFIC
CRG Chart provided by Bangladesh Bank
IFIC General Banking Policy Book
IFIC Foreign-Exchange Banking policy guideline
Academic Training & Research Division Report of IFIC Bank.

Website:
www.ificbank.com
www.bangladeshbank-bd.org
www.wikipedia.co
http://en.wikipedia.org/wiki/List_of_banks_in_Bangladesh

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Appendix
Questionnaire
SECTION: A
Name:
Designation:
Gender:
Your highest level of education: (please tick one)
1. SSC
2. HSC
3. Bachelors
4. Masters
5. Others (please specify)
SECTION: B
Complete the following questionnaire by filling the answer that best describes your
feelings about each statement. For each item, put your response according to the
following.

A. Strongly Agree

B. Agree

C. Neutral

D. Disagree

E. Strongly Disagree

51 | P a g e

QUESTIONS
1. Employee training and development is a part of organization development.
A. Strongly Agree
Disagree

B. Agree

C. Neutral

D. Disagree

E. Strongly

2. Employee training is an essential part of an organization.

A. Strongly Agree
Disagree

B. Agree

C. Neutral

D. Disagree

E. Strongly

3. Training and development is part of organizations target to achieve a goal.

A. Strongly Agree
Disagree

B. Agree

C. Neutral

D. Disagree

E. Strongly

4. Training program is very essential to support the employee career development of

IFIC.
A. Strongly Agree
Disagree

B. Agree

C. Neutral

D. Disagree

E. Strongly

5. IFIC has a good training environment for their employee.

A. Strongly Agree
Disagree

B. Agree

C. Neutral

D. Disagree

E. Strongly

6. IFIC looking for employee development as long run.

A. Strongly Agree B. Agree
C. Neutral
D. Disagree
Disagree

E. Strongly

7. Employee training and development expenditure is one of organization

investment
A. Strongly Agree B. Agree
C. Neutral
D. Disagree
E. Strongly
Disagree

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8. The relation between top level, mid level and lower level is important to achieve
organizations goal.
A. Strongly Agree
Disagree

B. Agree

C. Neutral

D. Disagree

E. Strongly

9. IFIC maintain all Employee Act as well for justify employees facilities given.
A. Strongly Agree B. Agree
C. Neutral
D. Disagree
E. Strongly
Disagree
10. IFIC use useful method for training.
A. Strongly Agree B. Agree
C. Neutral
Disagree

D. Disagree

E. Strongly

11. Top level management evaluates the training performance of the Employees.
A. Strongly Agree B. Agree
C. Neutral
D. Disagree
E. Strongly
Disagree
12. IFIC understand the training needs for new employee.
A. Strongly Agree B. Agree
C. Neutral
D. Disagree
Disagree

E. Strongly

13. IFIC arrange training program frequently.

A. Strongly Agree B. Agree
C. Neutral
D. Disagree
Disagree

E. Strongly

14. Training methods are understandable for employee.

A. Strongly Agree B. Agree
C. Neutral
D. Disagree
Disagree

E. Strongly

15.
Employee is performing well after received training.
A. Strongly Agree B. Agree
C. Neutral
D. Disagree
Disagree

E. Strongly

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16.
Employee has opportunities to develop their skills.
A. Strongly Agree B. Agree
C. Neutral
D. Disagree
Disagree

E. Strongly

17.
IFIC also arrange cross training programs.
A. Strongly Agree B. Agree
C. Neutral
D. Disagree
Disagree

E. Strongly

18.
Customers are satisfied about your banking services.
A. Strongly Agree B. Agree
C. Neutral
D. Disagree
Disagree

E. Strongly

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