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Internship Report

On

JS Bank Narr Branch Kotli (A.K)

Submitted by

Raewes Khan

Roll N. 40

BBA (4years) Finance

Session 2013-17

DEPARTMENT OF BUSINESS ADMINISTRATION

FACULTY OF ADMINISTRATIVE SCIENCES KOTLI

AZAD JAMMU AND KASHMIR


LETTER OF TRANSMITTAL

Date: March, 10, 2017

Mr. Umer Razzaq

Lecturer, UMSIT,

Department of Business Administration

Subject: Submission of Internship Report.

Dear Sir,

This report is in response to the instructions of your letter No. B Admin/ /2016

dated 01-07-2016. In which you have confirmed me the nomination of my internship at JS

Bank Narr Branch Kotli (A.K). I have completed my six week training from 01-07- 2016

to 22-08- 2016 JS Bank Narr Branch Kotli (A.K). My finding and related

recommendations are given in detail in this report, which is enclosed.

It would be pleasure for me to hear your comments after you have gone through this

report. Though while reading if you like to discuss any point with me, I shall be happy to

do so at any time convenient to you.

Yours truly,

Raees Khan

Roll No.40

BBA (Finance)

Session 2013-17

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Internship letter

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Acknowledgements

Im thankful to my respected teacher Mr. Umer Razzaq, who provided guidance at every

difficult step. Last, but not the least, are the employees of JS Bank Limited, to whom I

acknowledge gratitude for their limitless support through this learning experience.

Manager for providing sufficient information on JS Bank Naar Branch Kotli Mr. Mehtab

Zeb, Employee for conducting an orientation in the JS Bank Naar Branch Kotli. on the

first days of my internship.

Finally, Im thankful to all my teachers and fellows who guided me during the whole

internship process.

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Executive summary

The main purpose of internship is to learn, by working in practical environment and to apply

the knowledge acquired, during the studies, in a real world scenario in order to tackle the

problems. My intentions were to know how to work in financial institutions, to know about

the office environment and to know how to deal with different kind of people.

I have discussed about every major aspect of the bank, which I observed during my

internship. Along with it, the processes, policies and procedures of the bank have also been

discussed in detail. I also analyzed the banking industry of Pakistan by using SWOT analysis.

In this report the analysis of the organization has been done and the financial aspects have

been evaluated to analyze the current position of the organization. Along with it, the

background analysis, the business process analysis, and the internal environment and external

environment of the organization have been discussed and the recommendations for the

improvement have been made.

During my internship program, I mainly worked with the departments, general banking and

advances. These departments have been discussed in along with the policies and procedures

therein. About JS bank my learning experience in this Kotli branch is really worth full and

very precious one regarding my enhancement of my knowledge and skills.

I have made my report with my experience at the JS BANK along with my overall insight of

the organization

The recommendation section contains my perception of the ways of improving this

organization.

In the end I have listed the references used during the preparation of my internship report.

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LIST OF ACRONYMS

Abbreviations Meanings

ATM Automatic Teller Machine

CEO Chief Executive Officer

A.K Azad Kashmir

Ltd. Limited

SIMEX Secured Internet Message Exchange System

L/C Letter of Credit

L/G Letter of Guarantee

PC Banking Personal Computer Banking

POS Post of Sale

PIN Personal Identification Number

CD Current Deposits

PLS Profit & Loss Sharing Account

IBDA Inter Branch Debit Advice

IBCO Inter Branch Credit Order

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(RF) Running Finance

NTN National Tax Number

NIC National Identity Card

LBC Local Bills for Collection

OBC Outward Bills for Collection

PO Pay order

DD Demand Draft

MRTC Muhafiz Rupee Traveler Cheque

MT Mail Transfer

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Contents

CHAPTER 1...............................................................................................................................
1 Introduction.........................................................................................................................
1.1 Overall Banking Sector in Pakistan.............................................................................
1.2 Overview of JS Group.................................................................................................
1.3 Introduction.................................................................................................................
1.4 JS Info. Com................................................................................................................
1.4.1 The Resource Group............................................................................................
1.4.2 T.V Channels........................................................................................................
1.4.3 Cinepax................................................................................................................
1.5 JS Resources................................................................................................................
1.5.1 Sprint Energy........................................................................................................
1.5.2 Hascombe Oil.......................................................................................................
1.6 JS Transportation.........................................................................................................
1.6.1 Air blue.................................................................................................................
1.6.2 JS Air....................................................................................................................
1.7 Vision Statement..........................................................................................................
1.8 Mission Statement.......................................................................................................
1.8.1 Current Performance............................................................................................
1.9 Future Directions.........................................................................................................
1.9.1 Pehla Qadam........................................................................................................
1.9.2 Features of Pehla Qadam.....................................................................................
1.9.3 Guaranteed Protection..........................................................................................
1.9.4 Access to savings at all times...............................................................................
1.9.5 Minimum Premium............................................................................................
CHAPTER 2.............................................................................................................................
2 Operations of Organization..............................................................................................
2.1 The Narr Branch Kotli has following departments....................................................
2.2 Account Departments................................................................................................

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2.2.1 Opening of account by an individual.................................................................
2.3 An Introduction.........................................................................................................
2.4 Account Opening Form and Specimen Signature Card............................................
2.4.1 Specimen Signature Card...................................................................................
2.4.2 Account Opening Register.................................................................................
2.4.3 Issuance of Cheque Book...................................................................................
2.4.4 Issuance of Pass Book........................................................................................
2.4.5 Recording into General Ledger..........................................................................
2.5 Types of accounts maintained by JS Bank of Pakistan Narr Branch.........................
2.5.1 Current Account.................................................................................................
2.5.2 Features..............................................................................................................
2.5.3 Profit and Loss Sharing Account:......................................................................
2.5.4 Features..............................................................................................................
2.5.5 Fixed Deposit Account.......................................................................................
2.5.6 Features..............................................................................................................
2.6 Remittance Meaning..................................................................................................
2.6.1 Procedure............................................................................................................
2.6.2 Cash Department................................................................................................
2.7 Functions of Cash Department..................................................................................
2.7.1 Cash Receipt.......................................................................................................
2.8 Finance/ Credit Department......................................................................................
2.8.1 Procedure for Grant Granting of Loans.............................................................
2.8.2 Granting of Loan................................................................................................
2.9 Types of Loans...........................................................................................................
2.9.1 Demand Finance.................................................................................................
2.9.2 Agriculture Finance............................................................................................
2.10 Computer Department...............................................................................................
2.10.1 Duties of Computer Department........................................................................
2.10.2 Wealth Management...........................................................................................

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2.11 JS Financial Services.................................................................................................
2.12 JS non-Financial Services..........................................................................................
CHAPTER 3.............................................................................................................................
3 SWOT Analysis of JS Bank Narr Branch........................................................................
3.1 Strengths....................................................................................................................
3.2 Weaknesses................................................................................................................
3.3 Opportunities.............................................................................................................
3.4 Threats.......................................................................................................................
3.5 Financial statements of JS Bank................................................................................
3.6 Ratio Analysis of JS Bank.........................................................................................
3.6.1 Return on Equity................................................................................................
3.6.2 Return on Assets.................................................................................................
3.6.3 Earnings per Share.............................................................................................
3.6.4 Return on Deposit..............................................................................................
3.6.5 Cash/Deposit Ratio.............................................................................................
3.6.6 Interest Income/Total Income Ratio...................................................................
3.6.7 Net Profit Margin...............................................................................................
3.6.8 Operating Expense Ratio....................................................................................
3.6.9 Total Asset Turnover..........................................................................................
3.6.10 Advances to Total Deposits................................................................................
CHAPTER 04...........................................................................................................................
4 My Internship Responsibilities........................................................................................
4.1 RESPONSIBILITIES................................................................................................
4.2 Departments of JS......................................................................................................
4.2.1 Cash department.................................................................................................
4.2.2 Deposit Department...........................................................................................
4.2.3 Clearing Department..........................................................................................
4.2.4 Account Department..........................................................................................
4.3 Problem Encountered................................................................................................

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4.4 Skills Learnt and Gained...........................................................................................
CHAPTER 5.............................................................................................................................
5 Recommendations and Conclusion..................................................................................
5.1 Recommendations and Conclusion...........................................................................
5.1.1 Computerization in Banking..............................................................................
5.1.2 Evening Bank.....................................................................................................
5.1.3 Proper Safeguarding of Bank Branches.............................................................
5.1.4 Reward System & Timely Promotions...............................................................
5.1.5 Effective Chequing System................................................................................
5.1.6 Loans should be sanctioned on Merit.................................................................
5.1.7 Professionalism..................................................................................................
5.2 CONCLUSION.........................................................................................................
References................................................................................................................................

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CHAPTER 1

1 Introduction

At the time of independence in 1947, there were 38 scheduled banks with 195 offices in

Pakistan but by the December 31, 1973 there were 14 scheduled Pakistani commercial

banks with 3,233 offices all over the Pakistan and 74 Offices in foreign countries.

Nationalization of banks was not done 1st January 1974 under the nationalization act

1974, due to certain objectives. But it had negative effect on efficiency of the banking

sector afterward a privatization commission was set up on January 22, 1991. The

commission transferred many banks to the private sector i.e., MCB and ABL. The

government permitted and approved the establishment of new banks in 1991, hence many

new private banks have incorporated, since then JS Bank is one of the namely established

private scheduled banks in Pakistan

1.1 Overall Banking Sector in Pakistan

80 percent of the banking assets are supposed by the private sector banks and the

privatization of nationalized commercial banks has brought about a culture of

professionalism and service orientation in place of bureaucracy and unconcern. The banks

that were losing money due to inefficiencies, waste and limited product range have

become highly profitable business. These profits are, however, being used to strengthen

the capital base of the banks rather than paying out to the shareholders. The least capital

requirements have been raised from Rs. 500 million to Rs. 6 billion over alengthy period

in a phased manner. The consolidation of the banking sector into fewer but tougher banks

will lead to better management of risk. The banks that were loaded with the non-

1
performing and defaulted loans have cleared up their balance sheets in an open clear,

across-the-board manner. Contrary to the popular myth the main recipients of the write-

offs of the old outstanding and unrecoverable loans have been from almost 25 percent to

6.7 percent by Dec. 2005. Small individual debtors the ratio of non-performing loans of

the Commercial Banks to total advances has failed. The quality of new assets has

improved as severe measures are taken to evaluate new loans, and assure the underlying

securities. Online Credit Information Bureau reports provide efficient information to the

banks about the credit history and track record of the borrowers. Loan sanctions on

political considerations have become faded. Non-performing loans account for less than 3

percent of all new loans disbursed since 1997. The human resources base of the banks has

been significantly upgraded by the adoption of the principles of merit and performance

throughout the industry. Recruitment is done through a highly competitive process and

promotions and compensation are linked to training, skills and high performance. The

banks now routinely hire MBAs, M.Coms, Chartered Accountants, IT graduates,

economists and other highly educated persons rather than Clerical and Non Clerical

Workers. The banking industry has become the chosen choice of profession among the

young graduates. Banking Technology that was almost non-existent in Pakistan until a few

years ago is transforming the customer services and access on-line banking, Internet

banking, ATMs, mobile phone banking and other modes of delivery have made it possible

to provide convenience to the customers while falling the transaction costs to the banks.

Credit Cards, Debit Cards, Smart Cards etc. are a booming and expanding business in

Pakistan. Once the RTGS is put in place the payment system in Pakistan. Would enter a

new phase of innovation. Competition among the banks has forced them to move away

from the traditional limited product range of credit to the government and the public sector

enterprises, trade financing, big name corporate loans, and credit to multinationals to an

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ever-expanding menu of products and services. The borrower base of the banks has

expanded four fold in the last six years as the banks have diversified into agriculture,

SMEs, Consumers financing, mortgages, etc. The middle class that could not afford to buy

cars or apartments as they did not have the financial power for cash purchases are the

biggest recipients of these new products and services. Along with strong rule, supervision

and implementation capacity of the State Bank of Pakistan a number of measures have

been taken to put best corporate governance practices in the banking system. Fit and

proper criteria have been set for the Chief Executives, members of the Boards of

Directors, and top management positions. Accounting and audit standards have been

brought to the International Accounting Standards (IAS) and the International Audit

Codes. External audit firms are rated according to their performance and track record and

those falling short of the satisfactory standards are excluded from auditing the banks. The

foreign exchange market that was highly regulated through a system of direct exchange

controls over suppliers and users of foreign exchange has been relaxed and all purchases

and sales take place through an active and vibrant inter-bank exchange market. All limits

have been removed with full current account convertibility and partial capital account

convertibility. Foreign investors can now bring in and take back their capital, remit profits,

dividends and fees without any prior removal and directly through their banks. Similarly,

foreign portfolio investors can also enter and exit the market at their own will. The main

lesson learnt from the last decade suggests that financial sector functions effectively and

efficiently only if the macroeconomics situation is favorable and stable. The need to

maintain macroeconomic stability will thus remain paramount in the years to come.The

plan for further reforms in the financial sector is still quite difficult and the challenges to

spread the benefits of financial liberalization among the middle and low income

households and small and medium farms and enterprises are still huge. There are several

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areas of dissatisfaction with the banking sector that need to be addressed. The most serious

complaint against the banking system in Pakistan today is that the depositors are not

getting adequate return on their bank deposits. The difference between the monthly

weighted average rates of lending and deposits is taken as display of the spreads earned by

the banks. It is true that these spreads have widened in the recent months land this wonder

has caused resentment among those whose only source of income is their returns from

bank deposits. But it is important to examine the facts and their form judgments. The old

deposits are earning much lower rate because they were lodged at the time when the

overall structure of interest rates had come down suggestively. This lag is adjustment

between the deposit and lending rates is due to the costs incurred by the depositor in

shifting deposits from one bank to the other.

1.2 Overview of JS Group

JS Group is one of the largest business conglomerates and financial services groups in

Pakistan, having a vast experience of dealing in corporate and investment banking

services, capital market, money market, forex market, insurance and asset management

products. The Group has grown over the last decades through building partnerships with

globally recognized and leading organizations and has a diversified investment portfolio

under the umbrella of FS & CO. JS & Company is one of the largest investment

companies in Pakistan and one of the most diversified financial services company. JS and

Company is rated AA+ (long term) and A1+ (short term). The Pakistan Credit rating

Agency (PACRA) has assigned

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1.3 Introduction

JS Group controls and operates market-leading financial services companies in Pakistan

across sectors including asset management, commercial banking, Islamic banking,

insurance, Investment banking, financial advisory services, stock brokerage, company

research, consumer credit rating, factoring and micro finance.

JS Group also has investments throughout Pakistans economy, including its industrial

sector, technology & media sectors, commercial real estate, energy & natural resources

and aviation.

The group includes five vertical businesses:

JS Industrial
JS Info com
JS Resources
JS Transportation

Investment in Pakistan Industry

Al Abbas industries Steel, chemicals and fiber board

Al Abbas Sugar Mills Sugar and ethanol

Azgard 9 composite denim

Dadex Eternit construction materials industry (piping & jointing solutions)

Pakistan International Container Terminals

1.4 JS Info. Com

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1.4.1 The Resource Group

In addition to JS Group, TRG has IFC and AIG Capital Partners as Investors in company.

1.4.2 T.V Channels

This business launched HUM TV and MASALA TV, satellite broadcast free to air

channels which are distributed through cable networks in Pakistan. HUM is an

entertainment and lifestyle channel launch in 2004. Masala TV is the first exclusive 24

hours food channel.

1.4.3 Cinepax

Cinepax is the Pakistans first multiplex cinema screen company building a nationally

branded chain.

1.5 JS Resources

1.5.1 Sprint Energy

Sprint energy was formed in 2004 to amalgamate the upstream oil and gas assets of the JS

Group. Sprint owns interests in oil and gas companies in Pakistan, U.S.A and Oman.

1.5.2 Hascombe Oil

Hascombe Oil is an oil marketing company in the process of building out approximately

250 retail pumps in Pakistan by 2010.

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1.6 JS Transportation

1.6.1 Air blue

Air blue commenced operations in 2004 and currently operates a fleet of eight Airbus A-

320, A-321, and Beech craft 1900 C (wet lease) aircraft. It operates 168 flights weekly,

serving Karachi, Gwadar, Islamabad, Lahore, Peshawar and Faisalabad with in Pakistan.

Airbus recently placed a US$790 million order with Airbus to purchase 10 additional

aircraft with deliveries commencing in 2012.

1.6.2 JS Air

JS Air is a regular air charter business established to serve low passenger volume routes

for commercial airlines as well as providing executive charter services to the oil gas

industry and other leading businesses

quality and innovative range of banking services and products to our customers by a

highly motivated team of professionals whilst maintaining high ethical and regulatory

standards thereby generating sustainable returns to our shareholders.

1.7 Vision Statement

To provide quality and innovative range of banking services and products to our customers

by a highly motivated team of professionals whilst maintaining high ethical and regulatory

standards thereby generating sustainable returns to our shareholders.

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1.8 Mission Statement

To be a preferred partner of our customers by providing complete financial solutions

exceeding service expectations, though a single relationship via conventional and non

conventional, conveniently accessible distribution channels.

1.8.1 Current Performance

KarachiJS Bank Limited, a subsidiary of Pakistans most progressive financial

service groups - JS Group, has currently selected Oracle Exudate Database Machine X3 to

provide an integrated platform to run its card and core banking applications, with the

objective of supporting rapid growth and enhancing system performance. Oracle Exudate

Database Machine X3 provides the Bank with a robust, scalable and integrated platform to

support its mission critical applications, and at the same time, reduce overall operational

costs by consolidating on an integrated platform.

1.9 Future Directions

JS banks future direction includes the following step which they include in their banking

operations to expand the quality of their bank and improve their profitability.

1.9.1 Pehla Qadam

Planning for the future means providing for your children as well as yourself. Keeping in

view the rising cost of education, JS Bank brings you Pehla Qadam Child Education

Plan, exclusively designed to help shape your childs future. The plan, underwritten by

EFU Life Assurance Ltd., is a complete financial planning package designed for you to

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save for your childrens future educational needs. Flexible enough to be customized

according to your specific requirements, Pehla Qadam provides high value savings

coupled with a guaranteed level of life protection.

1.9.2 Features of Pehla Qadam

Simultaneous Savings and Investments

Every contribution in PehlaQadam is invested in an internal investment fund of EFU

Life called the EFU Managed Growth Fund.


The fund is managed by investment experts who adjust the mix of the underlying

investments in light of economic conditions and investment opportunities, ensuring

your investment is protected.

1.9.3 Guaranteed Protection

The plan provides a guarantee of a minimum amount which will be payable at

maturity of the policy.


The guaranteed amount payable at maturity is equal to the sum assured of the plan or

the fund value at the time of maturity (whichever is higher).


These substantial funds can be utilized for the educational needs of the nominated

child.

1.9.4 Access to savings at all times

The plan provides complete access to the accumulated fund value at all times.
After full contributions for two years, the fund can be withdrawn for its full or partial

value.
In case the customer opts for complete surrender, all units in the fund will be en-

cashed at the current bid price and the plan will be cancelled.

1.9.5 Minimum Premium

9
The minimum annual premium required for PehlaQadam is Rs. 24,000.

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CHAPTER 2

2 Operations of Organization

2.1 The Narr Branch Kotli has following departments

Account Department
Remittance Department
Cash Department
Finance/ Credit Department
Admin Department
Computer Department

Now I explain these departments separately and describe activities performed by me at

these departments;

2.2 Account Departments

Deposits are important to the bank as a backbone is to the body of a man. They are the

lifeblood of the bank. JS Bank of Pakistan and all other commercial banks perform the

function of deposit accepting from the general public by offering suit JS rates of interest

on them, or on simply a promise to repay on demand.

2.2.1 Opening of account by an individual

After entering into bank premises the person goes through the following steps for opening

an account in the bank and for becoming a bank customer.

2.3 An Introduction

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The first important step to take place in bank is to get satisfactory introduction of the

person, who wants to become banks customer.

This introduction is made from the person /party who are respect JS and honor JS and

have an account with the bank.

In JS (Narr Branch) the branch manager takes great care of this step and gets introduced

with the person himself. His main intention is to determine the prospective customers

integrity, respectability, occupation, and nature of business he is doing at the time of

opening an account.

The person who wants to open account in JS, first of all submitted copy of JS identity card

because the bank verify the data of his clients from JS Data Base and Registration

Authority (NADRA). For this purpose JS operates the software of NADRA.

2.4 Account Opening Form and Specimen Signature Card

Now the person is provided with an application form known as Account Opening Form.

This form contains;

Title of account
Address
Computerized Identity JS Card number
Telephone No. (Office and Residence)
Introductory reference (all mentioned particulars of introducing him)

Signatures of the applicant


Amount deposited
Check book series No.

The customer attaches a copy of his JS Identity Card also copy of two guarantors who

already have their accounts in the same branch, with the account opening form.

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2.4.1 Specimen Signature Card

Specimen of signatures will be obtained from depositor at the time of opening his account.

A specially designed card is used for this purpose; the card must be countersigned by an

official of the bank not below the rank of an officer.

2.4.2 Account Opening Register

Now the name of the customer will be recorded in account opening register, and from

here the account no. of the customer will be written on (top most corners) account opening

form and on specimen signature card.

2.4.3 Issuance of Cheque Book

The cheque book will ordinarily be issued to all customers desiring to have chequing

facility. Cheque book consists of 10, 28, 80, or 100 leaves depending upon customer

requirement. Customer can withdraw money by signing a cheque and writing the amount

he wants to withdraw from his account. A special cheque book register is kept to enter the

name of the person having cheque book.

2.4.4 Issuance of Pass Book

Pass Book is another important type of book handed over to the customer as he opens the

account with the bank. The withdrawal and deposit of money is recorded date wise in this

book.

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2.4.5 Recording into General Ledger

The concerned officer records the name and amount deposited with the bank into general

ledger. Separate ledgers are maintained for different types of accounts e.g.

Current Account Ledger


Saving Account Ledger
Fixed Deposit Account Ledger
Call Deposit Account Ledger

As and when customer will deposit the money, amount will be credited in general ledger

and the withdrawal will be followed by a debit entry in the ledger.

2.5 Types of accounts maintained by JS Bank of Pakistan Narr Branch

JS Bank of Pakistan maintain following types of accounts;

2.5.1 Current Account

This account is also known as running balance account. Simply we can say A bank

account which may be used to lodge payments or to withdraw money on demand.

Its main purpose is to serve the businessman. Form number F-83 is provided to the person

to open the account. It is a statutory requirement to maintain current account.

2.5.2 Features

Minimum amount for opening this account is Rs.800


Any person can open the account with the bank
According to inter banks agreement interest is not paid on current account.
Bank act as custodian of money
Over draft facility is provided to the customers
Customer can withdraw money through cheque supplied by bank

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2.5.3 Profit and Loss Sharing Account:

In general it is also called saving account .To provide interest free banking facilities in

Pakistan, this type of account was introduced in January 1982 after the Islamization of

banking.

2.5.4 Features

Instead of having fixed return in the form of interest the deposited money will be

shared in profit and loss of the bank.


One can open the account by depositing minimum Rs.100
Withdrawal is allowed 8 times in the month total not exceeding Rs.18000.
To withdraw a large amount a notice of 7 days to the bank is necessary.
There is not any kind of interest is provided on money deposited.
Rate of profit is declared at the close of each half-year.
Number of depositors in PLS account in JS Bank of Pakistan up to 31-8-2001 were

4000 approximately.

2.5.5 Fixed Deposit Account

This account is the major source of funds for the banks. This account is best for

People who have surplus money and dont need such funds in nearer future.

The money is deposited for a fixed period of time.

2.5.6 Features

Fixed amount is deposited for fixed period.


Amount of profit can be obtained after each six months.
Higher will be the time period, higher will be the rate of profit, and vice versa.
A receipt is used for the amount deposited called fixed deposit receipt.
Period of deposit can vary from 3 months to 8 years.
The amount can be withdrawn before maturity after surrendering

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Remittance Department

2.6 Remittance Meaning

Money or something equivalent to money sent by any person to another on another

station, either in cash, money order, postal order, bill of exchange, cheque, bank draft etc.

is known as a Remittance.

Now I will explain the procedure and importance of Bank Draft: (DD)

Bank draft can be defined as;

An un-conditional instrument in writing drawn by a bank in favor of any person on a

branch of its own bank or any other bank to pay a certain sum of money to his order, for

value received. From the definition it is clear that the draft is pay JS to the beneficiary

himself or to his order. The beneficiary or payee has to prove his identification at the

paying office of the bank, which sometimes causes inconvenience to the public. Draft is

the most popular and common form of remitting funds from one place to another. Any

person who may or may not happen to be the banks customer against payment of bank

charges can purchase drafts. It is considered to be a source of income for the bank.

2.6.1 Procedure

In JS Bank of Pakistan the drafts are issued on submission of application form (always

printed) filled in and signed by the purchaser with his full name and address.

The following particulars are generally required in the application form;

Date
The Name of the Office on Which It Is Drawn

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The name of the beneficiary
Amount in words and figures
Bank exchange rates
The signature and address of the applicant

The draft is issued after the applicant tenders the money. Two authorized signatories of the

bank always sign draft. A separate book Draft issued register is kept to record the

particulars of the draft issued. The drawing branch of the bank will give credit to the

drawer branch on the same date the draft is issued; through their account for settling inter

branch transactions. Usually all the banks insert special code number known as CHECK

SIGNAL on the relative draft advices for all the drafts for more than Rs.8000/-.

JS bank of Pakistan does not pay the drafts before the receipt of relative advice. On receipt

of relative advice the drawer branch will credit the amount into their draft payJS account

and each time a draft is paid this account will be debited with the amount of the draft paid.

In case the draft advice is not received, the draft will be paid ex advice duly entered in

the "ex-advice register and the entry in the said register will be marked off on receipt of

the relative advice.

2.6.2 Cash Department

Cash department of JS is given the complete responsibility of handling all receipts &

disbursement of cash as a result of transactions in both local & foreign currencies & near

cash items such as traveler cheque etc.

As a consequence it is also responsible for the book-keeping of those transactions & the

safe custody of cash & near cash securities.

2.7 Functions of Cash Department

17
2.7.1 Cash Receipt

The depositor uses cheque deposit slip for depositing the amount. There are two types of

cash deposit slip

One for current account holders


Other for saving account holders.

Both are in different colures for clear identification. There are two parts of cash deposit

slips.

Counter foil.
Adjacent credit voucher.

Procedure

The cashier first verifies all the requirements of the cash deposit slip that whether these are

fulfilled or not & verifies the amount written in words & figures. After that he enters the

detail of the receipt in the Inward Cash Register. The deposit slip is stamped, cash is

received & counter foil is given to the depositor. The adjacent credit voucher is used for

recording & posting purpose.

Encashment of Cheque

It include the following

a) Accepting of Cheque

The cash is paid against the cheque of the client. The following points are kept in mind

while receiving the cheque from the client.

Cheque should be drawn on JS.

18
It should not be postdated.
It should be a bearer cheque so the word bearer should not be crossed.
Payment is not stopped by the drawer.
Amount in words & figure should be same.
Alteration in date/figure/word require drawers full signature, with signature on the

cheque.
If signatures are not the same then it is returned back otherwise forwarded to

computer terminal.

b) Affirmation of Signature.

After receiving the cheque the office verifies the signature of the account holder with the

signature on the signature on the cheque .If signature are not the same them it is returned

back otherwise forwarded to computer terminal.

c) Computer Terminal Process.

The cheque is received in computer terminal, where the computer operator checks the

balance of the account holder. The operator also sees whether the stop payment

instructions are received from account holder or not .After considering these two points

computer operator posts the cheque in account holder ledger & returns the cheque back to

the officer.

d) Payment of Cash.

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The cheque is cancelled after posting is returned to cashier. The cashier enters the cheque

in Cash Paid register. Pays against the second signature of the receiver on the back of the

check.

Nearly every day in the morning time, cash comes from the state Bank of Pakistan through

brinks. This cash is required by the bank to meet the current needs of cash.

2.8 Finance/ Credit Department

JS bank of Pakistan maintains a separate finance section. Its purpose is to grant loans to

the needy people, small & large business concerns, and to industries. Advances in the form

of money are the most remunerative use of bank resources. The management of the bank

will be very careful while granting the loans.

The person/proprietor of the business will go through a long process of application,

documentation, securitization etc. while requesting for loan. After proper satisfaction from

the party concerned the bank will grant loan to the party. Under the Islamic modes of

financing from 1982 onwards, JS bank of Pakistan gives loans on the basis of Mark-up

instead of interest. Mark-up rate is different depending upon the type loan.

2.8.1 Procedure for Grant Granting of Loans

The following procedure is maintained by JS bank while granting loan to any person;

a) Loan Application Form & Specimen Signature Card

The bank provides a prescribed application form to the borrower. The borrower will fill

the form. In that form the borrower will tell about: -

Type of the loan.

20
Amount of the loan he needs.
Period of time.

Applicant will also be provided a specimen signature card, to be filed by him.

b) Declaration of Properties Form

This form will provide the information about the business he is involved, and also provide

the information about his properties in Pakistan.

2.8.2 Granting of Loan

After detailed investigation, and documentation if the finance section finds the party well

satisfactory and feasible then they sanction the finance to the concerned party and the

amount is transferred in his personal account.

2.9 Types of Loans

JS Bank of Pakistan provides various types of loans depending upon the requirement of

the borrowers. Some of the important types of loans are;

2.9.1 Demand Finance

Under a demand loan arrangement, a fresh demand loan account is opened through the

borrower may be having other deposit accounts with the banks. The amount of loan has to

be drawn by the borrower in lump sum and is to be repaid in installments or as agreed

upon. The borrower cannot operate a demand loan account by depositing and withdrawing

amounts periodically.

2.9.2 Agriculture Finance

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Agricultural finance is of great importance in Pakistan, as 68% of the population of the

country engages in the profession of agriculture. The agriculture finance is granted for the

agricultural purposes which include the development and production purposes. Agriculture

finance is categories into three types;

a) Short Term Loan:

The short term loan is taken at the most for one crop period and is fully recover JS from

the proceeds of the same crop after its harvest. This loan is needed for seeds, fertilizers,

pesticides and wages of hired labors which are meant for input for a particular crop.

b) Medium Term Loan:

The medium term loan is usually taken for the period of three years and is taken for the

purchase of tractors, tube wells, cattle,, livestock and dairy and poultry farming etc.

c) Long Term Loan:

The long term loan is generally taken for a period above three years and the amount is

used for buying land, construction embankments, and improvement of land of for

arranging drainage.

2.10 Computer Department

JS Bank Pakistan Kotli Branches its own computer department which is responsible to

store the record of all bank transactions. This department is supervised by an IT Specialist

who is the administrator of the computer department. This department performs the

following duties;

2.10.1 Duties of Computer Department

22
All the cheques, receipts and deposit slips are posted in the computer is the key

responsibility and duty of this department.


This department is also responsible to look after the networking system of all the

computers and server.


This department carried out the duties of installing software and Maintenance of all

computers and printers.

CUSTOMER SERVICES PRODUCTS

Account will be opened same day subject to


fulfillment of our KYC requirements and
Opening of Account.
receipt of account opening form along with
documents before 4:00 PM.

For Kamyab Business account next day provided


Cheque book issuance. request received by 4:00PM. For other accounts
two working days.

Same day, upon receipt of customers request


Closing of account. provided clearance is received from all the
departments.

Processed in two working days, subject to receipt


ATM/Debit Card.
of request by 3:00PM.

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We dispatch the Account
statement as per the
following schedule.

Delivery of Account Type of Accounts:

Statement Kamiyab Business Account Monthly


Current Account Monthly
Rupee Plus Account Monthly
FCY Current Monthly
FCY Savings Half Yearly
Savings Account Half Yearly

Stop payment requests. Executed instantly upon receipt of written request.

Issuance of balance Balance certificate is issued within thirty minutes.


Certificate to Audit Report for Corporate customers within
customers and/or to seven days. (Irrespective when received?)
Audit Firm.

Fix Deposit Setup. Same Day Execution.

Fix Deposit
Same Day Execution.
Cancellation.

Payment of Cash Within Five minutes after the instrument is


presented at the counter and depending upon the
Cheques denomination and amount,

Within Five minutes after the cash is presented at


Cash Receipt the counter and depending upon the denomination
and amount.

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Handling of Check
Within Five minutes of receipt of the cheque at
Deposited for clearing /
the teller counter.
Transfer

Additional Information

Schedule of bank charges


Terms of bank account
Unclaimed deposits: Unclaimed deposits for over 10 years old
SBP guidelines for operating ATM cards

2.10.2 Wealth Management

At JS Wealth Management, we strive to combine the best of both worlds for you

independent, personalized products and services with our financial strength and resources

to provide a complete range of wealth-building solutions, most appropriate to your

individual needs.

We appreciate that each investor is unique. Not only do our clients have different goals

and needs, the role that investing plays in their lives can be very different. Some like total

control over their investments whilst others like to work closely alongside a trusted

advisor when making their strategic investment decisions. Then there are those that like

the day-to-day involvement, but dont want to deal with the paperwork associated with the

management of their portfolios.

Our Wealth Management Services are for individuals looking to create, preserve and grow

their wealth with the right investment solutions customized by a team of professionals. So,

no matter where you are on your pathway to success, how experienced an investor you are,

or how involved in your investment decisions you want to be, we have a service to suit

your needs.

25
As part of our Wealth Management Services, our product lines are divided into the

following:

1. Banc assurance
2. Mutual Funds

2.11 JS Financial Services

Name of Company Line of Business

JS & Company Investment

JS Bank Commercial Banking

JS Investment Asset Management

JS Global Capital Investment banking and securities

JS Carbon Carbon Credits

Bank Islamic Pakistan Islamic Banking

Network Micro Finance Bank Micro Finance Banking

EFU General Insurance General Insurance

EFU Life Assurance Life Assurance

Allianz EFU Health Insurance Health Insurance

2.12 JS non-Financial Services

JS Group also has a diversified investment portfolio is non-financial services in industries

such as commercial/charter airline, textile, fertilizer, sugar, chemical, steel, construction

material, sea port, call center, oil & gas exploration, oil marketing, real estate, hotels,

media and entertainment etc.

26
CHAPTER 3

3 SWOT Analysis of JS Bank Narr Branch

SWOT Analysis is a technique that is used to get the information about the internal and

external environment of an organization. After careful environmental scanning and

considering various forces that can affect the operations of JS BankBranch Kotli, I

conclude that the branch has:

3.1 Strengths

There is Participating Management in the branch.


Deposits are increasing day by day.
It has minimum balance requirements for accountholders than other banks.
JS Bank Branch Kotli is leading bank in the city.
It has Strong financial position.

3.2 Weaknesses

Centralization authority restricts the branch to make its own policies.


Old technology is used to carry on day to day operations.
High volume of paper work is there.
There is improper distribution of work in the branch.
It has also Lack of incentives and promotional opportunities.
No training programs for new employees in the branch.
High documentation cost has to bear in daily operations.

3.3 Opportunities

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Increase in foreign remittances has greater opportunities for the branch.
Increase in banking habits of the public can increase its accountholders.
Improve income level of the people may in results in increase its deposits.
High demand for credit by the public may increase its lending and advances.

3.4 Threats

Increase in competition among banks restricts the branch to earn high profits.
Its Limited product line cannot attract the customers properly.
No proper advertising system is used by the JS Bank Branch Kotli.
There are also Security problems for the branch.
Decrease in the savings of the public results in the decrease of deposits.
Rise in Inflation reduced the saving power of the customers.

Financial Analysis of JS Bank

3.5 Financial statements of JS Bank

Consolidated Statement of Financial Position

For the year ended December 31, 2016

28
2015 2016
Note (Rupees in 000)
ASSETS
Cash and balances with treasury banks 4,609,306 3,880,688
Balances with other banks 312,638 136,880
Lending to financial institutions 7 5,170,901 4,073,103
28,833,88
Investments net 8 5 22,649,824
19,893,87
Advances net 9 1 18,018,778
Operating fixed assets 10 3,120,922 3,021,439
Deferred tax assets net 11 963,728 1,082,466
Other assets 1,625,165 1,057,391

64,530,41 53,920,56
6 9
LIABILITIES

Bills payable 890,471 1,246,994


Borrowings 12 3,337,917 2,944,495
51,805,24
Deposits and other accounts 13 0 41,487,031
Sub-ordinated loans - -
Liabilities against assets subject to finance
lease - -
Deferred tax liabilities - -
Other liabilities 747,885 765,019

56,781,51 46,443,53

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3 9

NET ASSETS 7,748,903 7,477,030

REPRESENTED BY:
10,002,93
Share capital 0 10,002,930
Reserves 145,620 89,978
(1,944,88
Discount on issue of shares 0) (1,944,880)
Accumulated losses (420,350) (642,918)

7,783,320 7,505,110
Deficit on revaluation of assets - net of tax 14 (34,417) (28,080)

7,748,903 7,477,030

3.6 Ratio Analysis of JS Bank

Ratio Analysis is an important and age-old technique of financial analysis. Ratios are

important and helpful in the reference that:

These simplify the comprehension of financial statement and tell the whole story of

changes in the financial conditions of the business.


These provide data for inter-firm comparison. The ratios highlight the factors

associated with successful and unsuccessful firms, also reveal strong and weak firms.
These help in planning and forecasting, these can assist management in its basic

functions of forecasting, planning, coordination and control.


These help in investment decision in case of investor and lending decision in case of

Bankers etc.

30
However, the ratios are only indicators, they cannot be taken as final regarding good and

bad financial position of the business other things have also to be seen.

3.6.1 Return on Equity

Dividing profit after taxation by shareholders equity. ROE compares net profit after taxes

to the ShareholdersEquity. This ratio is calculated as:

ROE=Profit after taxes/Shareholders Equity*100

Table NO. 01

Years 2015 2016

Profit after taxes 100398 278210

Shareholders equity 7477030 7478030

Total ratios 1.34% 3.72%

3.6.2 Return on Assets

This ratio shows the efficiency of organization that how efficiently utilizes their assets.

This ratio relates profits to assets.

It is calculated as:

Profit after Tax/Total Assets*100

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Table NO. 02

Years 2015 2016

Profit after taxes 100398 278210

Total assets 53920569 64530416

Total 0.186% 0.431%

3.6.3 Earnings per Share

Net profit after taxes Number Of outstanding shares

Table NO. 03

Years 2015 2016

Net profit after taxes 190541 353832

Number Of outstanding 1853215 1853300

shares

Total 0.102% 0.190%

3.6.4 Return on Deposit

Net profit after taxes * 100 Total Deposit

Table NO. 04

Years 2015 2016

Net profit after taxes 190541 353832

Total deposit 6779487 10318209

Total 2.810% 3.429%

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3.6.5 Cash/Deposit Ratio

This ration is obtained by dividing cash by current liabilities / liabilities.

This ratio shows that the cash is enough for payment of current liabilities or not.

It is calculated as

Cash/current liabilities=cash ratio

Or

=Cash/Total Deposit

Table NO. 05

Years 2015 2016

Cash 5021220 6882470

Current liabilities 3728269 10281307

Total 5.724% 6.222%

3.6.6 Interest Income/Total Income Ratio

Interest Income Total Income

Table NO. 06

Years 2015 2016

Interested income 8651754 21828164

Total income 190541 353832

33
Total 45.40% 61.69%

3.6.7 Net Profit Margin

This ratio measure the firms profitability of sales/ interest earned after taking account of

all expenses and income taxes.

This ratio can be calculated as:

Net profit margin ration= Net Profit after taxes / interest earned *100

Table NO. 07

Years 2015 2016

Net profit after taxes 190541 353832

Interest earned 2980343 4061935

Total 6.343% 8.710%

3.6.8 Operating Expense Ratio

Non markup expense Gross income

Table NO. 08

Years 2015 2016

Non markup expense 1573944 1710981

Gross income 291231 471835

Total 5.404% 7.626%

3.6.9 Total Asset Turnover

34
Interest/markup earned*100 Total asset

Table NO. 09

Years 2015 2016

Interest/mark up earned 2980343 4061935

Total assets 53920569 64530416

Total 5.527% 6.294%

3.6.10 Advances to Total Deposits

This ratio show that how much efficiently the bank advances the deposits of their customer

to borrower. It is calculated as .Advances deposit ratio = Advances/ deposit

Table NO. 10

Years 2015 2016

Advances 18018778 19893871

Deposits 414870 518051

Total 43.432% 48.431%

35
CHAPTER 04

4 My Internship Responsibilities

4.1 RESPONSIBILITIES

Being a part of any successful organization, a better experience can be learnt. During my

internship responsibilities I have learnt the following things.

JS Bank Limited, one of the largest private banks in the country has been given an Islamic

Banking Branch license by the State Bank of Pakistan on December 16, 2006. JS .gives

full advantage to their workers and employees; the main focus of their workers are to

attract the customers and how to increase their trust towards the services which are

provided by the bank, mostly when they take work from an internee they give them the

full chance and support and encouragement to be as an employee. They take work from

their internee in a full friendly environment and with upmost respect as they were one of

their own. Following are the working

4.2 Departments of JS

Cash department

Deposit department

Clearing department

Account department

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4.2.1 Cash department

This is sensitive department of the branch. None of the other person is allowed to enter in

the places of cash department. This department deals in cash deposits and payments. Cash

department is performing its functions/duties manually. For payments and receipts, it has

to maintain certain sheets, books of accounts and various ledgers, which are as follow:

Cash received voucher sheet

Cash paid voucher sheet

Token register

Transaction ledger

Pay-In-Slip record

Cheque book record

Cash balance book

Roles of cash are one of the most important functions of the JS Bank. It is of extreme

necessity that the cashiers and officers as well as other staffs of the bank should know this

very well. Our main balance, Safe custody of cash, Custody of keys/Duplicate keys,

Maintenance of Vault book, Sorting of Notes and coins, Security measures, Irregularities

in the functions of the Cash Department and its' remedial

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4.2.2 Deposit Department

Deposits act as a backbone of bank. It is the lifeline of every bank. These deposits are

source of generating incomes for the bank and for the general public to meet the financial

needs. The supply of money in circulation is also affected by the amount of loans and

advances issued by the bank. The primary economic function of the commercial bank is to

receive the surplus saving money from the general public, individuals, firm, institutions,

public houses and companies and to pay the cheques drawn upon the bank.

The bank accepts the deposits at a low rate of interest and lends it at higher rate of interest,

the difference between the lending and accepting rate is the source of income for the bank.

Keeping in view the above factors JS offers the following types of accounts:

Current Account

Saving Account

Fixed Account

The classification of the deposits in to current, saving and fixed accounts is mainly on the

basis of duration and purpose for which the account is maintained at a bank.

Current Account

Current account is running account because, customer can withdraw deposited amount at

any time, whenever he feels need. The customer can withdraw without any prior notice to

the bank.

38
The bank has to pay the cheque provided within the limits of the account balance. The

main thing is that bank does not pay any kind of interest on current account.

The bank cannot invest the deposited amount under current account heading, because of

the fear of withdrawal. Bank has to keep with it a higher reserve ratio to meet the needs of

the current account holders.

Saving Account

Saving Account is an important source of funds for the bank. The purpose of this account

is to attract the small saving of the general public. Normally workers, schoolboys and

employees of the organizations use the saving account facility. JS also provides this

facility to the general public against a certain rate of interest. The new name of this

account is PLS-Saving Account. If a customer would like to withdraw a large sum of

money (above 15000), he will have to give a notice of 7 to 14 days in writing to the bank.

Saving account deposits provide a chance to the bank to invest safely, because customer

can withdraw small amount of balance.

Fixed Account

Fixed or Time deposits accounts are the major source of the capital for investment for the

bank and cannot be withdrawn as in case of the current account. The amount deposited can

be received back after a certain specified period of time. The rate of interest paid on fixed

deposits is normally higher than saving deposits. The rate of interest also varies due to

39
time period. The rate of interest also varies due to time period. After the expiry of the

period the customer presents the receipt to bank and receives the amount in cash or bank

added in the customer accounts as agreed between the bank and the customer.

4.2.3 Clearing Department

This department welcomes the cheques and other negotiable instruments drawn upon local

branches of other banks. State Bank of Pakistan has a clearinghouse, in which the bank

representative brings cheques and other Institutions and mutual claims of each buff set and

a settlement made by the payment. Clearing system is helpful for both the customers and

bank in saving of time, labor and currency involvement

4.2.4 Account Department

It is supposed that accounts department is the pillar of the bank. It plays a vital role in

performing different banking functions. The accounts department at JS Narr Branch is

performing its function manually. Different books of accounts relating with other

departments are maintained here. With the help of these books of accounts, accountant

prepares monthly, quarterly, semi- annually and yearly financial statements. The working

in accounts department mainly depends upon voucher system. For each and every

transaction-taking place in the bank vouchers are prepared and through these voucher

contra entries are passed under different heads.

The accounts department performs the following functions:

To prepare and maintain the vouchers.

To maintain and update the ledgers for term deposits.

40
To update general ledger.

4.3 Problem Encountered

During my internship I found some major problems in JS overall management.

There is noticeable communication gap between upper level management and

operational staff.

There is also over staffing in JS moreover inefficient individuals are in credit card

department.

There is huge difference in approaches of experienced staff & young staff

Imported upper level management

Experienced staff is frustrated mainly because of two reasons

Salaries have not been revised from last 10 years

Experienced Habibians are neither satisfied by the privatization of bank nor were they

taken into confidence at those times

4.4 Skills Learnt and Gained

I started my internship program on 16 June 2015 at JS Bank limited. I learned a lot of

things during my internship. told me about bank and working environment of bank.

I placed at cash department for first three weeks there I learned how to separate the coins,

notes and daily vouchers of the bank. I also learned how to deal with the customers. Cash

41
department is very sensitive as no other person can enter in the premises of cash

department. Then I was shifted to account opening department where I worked for 6

weeks I taught a lot of things in that department how to deal with customers. Working in

account opening department was very learning stage for me when a person came into the

bank for opening an account firstly I took his/her data which contains name of customer,

signature, CNIC, contact number. In this department I observed that most of customers

focus was to open the current account. In bank my main responsibility was to maintain the

banks discipline and follow the orders of my supervisor and rules and regulations

CHAPTER 5

5 Recommendations and Conclusion

5.1 Recommendations and Conclusion

During the internship period at JS I have come across certain aspects which need some

attention and improvement. I would like to give a few suggestions and recommendations

which might assist in the advancement and achievement of the bank.

5.1.1 Computerization in Banking

42
JS has computerized its accounts but it has not computerized its daily counter services..

Computerization of all the branches may be a difficult task, but it could result in a lot of

saving for the bank. JS could save time and also money spend on daily stationary by

computerizing all its work but still they prefer to do manual work as with the

computerized one which cause them extra money. I recommend them to shift all their

manual work to computerized banking.

5.1.2 Evening Bank

In big cities and especially the branches located in commercial areas should extend

evening banking services to its clients as safe keeping of money after close of business

house not free of danger?

5.1.3 Proper Safeguarding of Bank Branches

In these days many branches of various banks have been looted. In order to avoid any such

incidence, proper safeguarding measures should be taken to protect the life and property.

5.1.4 Reward System & Timely Promotions

There is no inventive of reward for the performance and hardworking of employees,

promotion is only based on seniority. As a result, employees do not try to work hard. In

order to increase the productivity and performance of the employees Bank should raise

reward system, so that employees can accomplish their objects successfully and discharge

their duties efficiently. In many cases officers are drawing maximum of their, pay scale for

year together. In such cases timely promotions should be made to create enthusiasm

amongst its employees. It could enhance the job satisfaction in the employees so that they

can do their work with full motivation.

43
5.1.5 Effective Chequing System

In Pakistan, an effective chequing system is not prevailing. People prefer to receive

payment in hard cash rather than in the form of a cheque. This is mainly due to the fact

that in Pakistan collection of cheques takes time. In addition cheques are dishonored

mainly due to the reason there are insufficient fund in the drawers accounts. If the

collection of cheque procedure is speeded up and the account holders are made bound by

bank to write cheques only when they have funds in their accounts, an effective chequing

system can be developed in our country.

5.1.6 Loans should be sanctioned on Merit

Unfortunately most of the loans are being given on the basis of political background rather

than on merit. Cash loans are later written off politically resulting in a heavy amount of

losses for the bank. It is suggested that the loan sanctioning body of the bank must consist

technical people. There should be no pressure from the government regarding sanctioning

and writing off of the loans. The loans should be only given only on merit basis so that the

people who really need loans to start a business could get it by the bank and employment

can be generated in the economy to boost it up with rapid growth.

5.1.7 Professionalism

In JS, there is a lack of professionalism at most of the levels. Employees feel

overburdened due to the shortage of staff. The bank should create new jobs to have

competent and professional persons for various posts, so increase in the number of staff

can raise the efficiency of the Bank. One person is doing two different jobs at a time which

cause delay sometimes in very important work. This causes a lot of burden for the single

44
employee doing different tasks which leads towards the dis satisfaction of employees who

became ready to leave their jobs.

5.2 CONCLUSION

JS Bank Limited is concentrated on achieving its financial targets; JS Bank did not lose

sight of the future and its challenges. It continue to invest in its man power training and

up-gradation of I.T. infrastructure. Although in the short run this will result in an increase

in its administrative and capital expenditure but in the long run will increase its efficiency

in terms of real cost reduction and increased product offering. In future it will invest

heavily into I.T to bring further improvement in its service standards and also to reduce the

transaction costs.JS Bank future predicts expansion in terms of geography, trade and

products. JS Banks management is setting our eyes towards excelling amongst banks of

the South Asian Region and would like to improve even further on its rankings both

domestically and regionally. Its investment in technology and human resource will

continue to prepare them for the future challenges. Customer will be the center of its focus

to become the Bank of choice for customers. JS Bank will continue to redesign

References

JS Bank
www.jsbl.com
Products
www.jsblproducts.com
Online Banking
www.jsblonline.com
Financial Statements
www.jsbl.com/financial_account.php
Newsletter of JS Bank Limited (August 2012)
Schedule of Bank Charges (July 2012)
Personal Observations
Banking Currency & Finance by Prof. Saeed Nasir

45
Banking Practice Law and Management by Asrar H. S1ddiqui 7th edition
JS bank Limited 2009, Personnel Manual.
Others
www.google.com.pk

46