5/30/2021 Askari Bank Limited Submitted By: • Muhammad Yasir Umar 170405 • Muhammad Ikram 170361 TABLE OF CONTENTS Bank History .............................................................................................................................................. 3 Focal Person We Connected ........................................................................................................................ 3 Bank Main Branch...................................................................................................................................... 3 Branch Name ............................................................................................................................................. 4 Branch Manager ........................................................................................................................................ 4 How They Perform ..................................................................................................................................... 4 Operations................................................................................................................................................. 4 Account Opening Department .................................................................................................. 4 Account Of General Customers ......................................................................................................................4 Accounts Of Special Customer .......................................................................................................................5 Individual Accounts ........................................................................................................................................5 Partnership Firm Account ...............................................................................................................................5 Public Limited Companies ..............................................................................................................................5 Accounts of Clubs & Societies ........................................................................................................................5 Deposit department ................................................................................................................. 5 Demand Deposit .............................................................................................................................................5 Cash department ............................................................................................................................................6 How They Perform ..................................................................................................................................... 6 1. Operation And Credit Group............................................................................................. 6 • Credit Division .......................................................................................................................................6 • Electronic Technology Division .............................................................................................................6 • Systems and Operations Divisions ........................................................................................................7 • Compliance and Data Division ..............................................................................................................7 • Legal Affairs Department ......................................................................................................................7 2. Corporate Banking And Financial Institutions Group ......................................................... 7 • Corporate And Investment Banking Divisions ......................................................................................7 • International Division ............................................................................................................................7 • 3. Treasury Division ...................................................................................................................................7 Retail Banking Group ....................................................................................................... 7 • Assets Products Division .......................................................................................................................7 • Credit Cards Division .............................................................................................................................7 • Planning And Corporate Affairs Division...............................................................................................7 • Human Resource Division .....................................................................................................................7 • Finance Division ....................................................................................................................................7 • Internal Audit Division ..........................................................................................................................7 Roles And Responsibilities .......................................................................................................................... 8 Assets ........................................................................................................................................................ 8 Liabilities ................................................................................................................................................... 8 Facilities .................................................................................................................................................... 9 Type Of Bank ............................................................................................................................................. 9 State Bank Connection ............................................................................................................................... 9 ASKARI BANK LIMITED BANK HISTORY Askari Bank Pakistan was incorporated in October 9th, 1991, as a Public Limited Company. It commenced operations on April 1st, 1992, and is principally engaged in the business of banking as defined in the Banking Companies Ordinance, 1962. The Bank is listed on Karachi, Lahore and Islamabad Stock Exchanges. Askari Bank has expanded into a network of 501 branches / sub-branches, including 94 devoted Islamic banking branches, and a wholesale bank branch in Bahrain. A shared network of 587 onsite/offsite ATMs covering all major cities in Pakistan supports the delivery channel for customer service. An important player in Pakistan's financial services industry, Askari Bank is now leading the way to the most modern and dynamic banking in the country. Askari Bank also has an Offshore Banking Unit in Bahrain.Askari Bank is the leading private sector bank in Pakistan, delivering quality service through innovative technology. In the success story of Askari Bank, one of the most important factors, apart from its dynamic management and prudent approach, is the quality of its services, which gives it a great edge over its competitors. Askari Bank has always strived to facilitate its customers by introducing various high quality hi-tech services for the first time in Pakistan. They are proud of their pioneering role in providing the most modern and technologically advanced services to their customers. Knowing customers and their needs is the key to any business success. Their products and services are as diverse as our market segments. Technology has played a pivotal role in meeting customer expectations, particularly with respect to the speed and quality of services. They have fully automated transaction-processing systems for back-office support. Branch network is connected on-line real-time and their customers have access to off-site as well as on-site ATMs, all over Pakistan. This includes not just establishing and maintaining technology infrastructure for providing operational support to all units of the Bank, but also encompasses introducing latest state-of-the-art technology-driven products and service delivery systems, such as ATM networking, Internet Banking, Mobile ATM, Credit Cards, Debit Card, Prepaid Card, utility bills payment through ATMs & Internet which have brought about cost-effectiveness, time saving and safety. FOCAL PERSON WE CONNECTED Due to covid situation it was not possible to visit the branch so we arranged online meeting with Miss Azka Noor Trainee Officer/ General Banking Officer, OG-II Email:azka.noor@askaribank.com.pk BANK MAIN BRANCH AWT Plaza, The Mall,P.O. Box No. 1084 Rawalpindi- 46000,Pakistan. Tel: (92 51) 9063000 Fax: (92 51) 9272455 E-mail: webmaster@askaribank.com.pk Website: www.askaribank.com.pk BRANCH NAME ALSHIFA EYE TRUST HOSPITAL BRANCH (0181) BRANCH MANAGER Mr .Asad Ali Butt Tel# 051-5488721 HOW THEY PERFORM Askari Bank has a network of 226 Branches including 31 dedicated Islamic Branches and consists of a network of 4173 online ATMs. All these resources are interlinked with each other to perform all operations. OPERATIONS Askari bank perform the following functions • • • • • • • General Banking Account Opening Bills And Remittances Deposit Department Cash Department Credits And Advances Department Foreign Exchange For this they have 3 main departments • • • • Account Opening Department Deposit Department Demand Department ACCOUNT OPENING DEPARTMENT Account opening is the first step in business of banking to create the relation of public with bank as a customer. Now customer becomes creditor of bank. It is most important department of bank and bank officers must take special care before opening the account. The accounts offered by the ACBL are of two types: ACCOUNT OF GENERAL CUSTOMERS Minor account Illiterate person account Joint Account ACCOUNTS OF SPECIAL CUSTOMER • • • • • • • • Proprietor Ship Account Partnership Accounts Limited Company’s Account Agent’s Account Joint Stock Company Account Agency Account Clubs, Societies /Association Accounts Trusts Local Bodies Etc. Executor’s And Administrator’s Account INDIVIDUAL ACCOUNTS PARTNERSHIP FIRM ACCOUNT PUBLIC LIMITED COMPANIES ACCOUNTS OF CLUBS & SOCIETIES DEPOSIT DEPARTMENT It is the most important department of the bank and working of banks initiate from this department. There are two types of deposits: • • Demand Deposit Time Deposit DEMAND DEPOSIT These deposit are payable by the bank on demand and no profit is given on these deposits. It includes: • • • • • • • • • • • • • Current Account Call Deposit Receipt Time Deposit It includes: PLS Saving Deposit Askari Special Deposit Account. Askari FISDA Account Askari FAIDA Accounts Value Plus Saving Deposit Notice Deposit Askari Advantage Term Deposit PLS Saving Deposit CASH DEPARTMENT Cash department is the most important because it is point of contact between the bank and the customer. The AKBL provides efficient and personalized services to their customer. This department creates the impression of bank commitment of professionalism in its system and procedure and to courteous and efficient customer service. So the staff of cash department is well equipped and trained not only in technical handing of cash but also in the art of customer. Functions of Cash Department includes: • • • • • • • Receiving cash from the customer. Making payment to the customers against their cheques or other payment instruments. Handling cash withdrawal and deposit into the bank account with state bank of Pakistan and with other branches of bank. Ensuring proper storage safety and security of he cash in cash and in transit. Ensuring proper cash management and sorting out of issue able cash into the denominations. Maintaining daily cash position register. Transfer of cheques from one account to another and shift the cheques of other bank to clearing department. Cash department has two counters • • Cash Receipt Counter Cash Payment Counter HOW THEY PERFORM There are three main groups in ACBL, which further comprises of fifteen divisions. • • • Operations And Credit Group Corporate Banking And Financial Institutions Group Retail Banking Group 1. OPERATION AND CREDIT GROUP This group is responsible for all operational as well as credit and risk management activities of bank. This includes development and implementation of systems, operational policies and procedures, process reengineering, automation, branch expansion, and acquisition of premises, regulatory reporting, compliance management and legal affairs. The group comprises of the following divisions. • CREDIT DIVISION • ELECTRONIC TECHNOLOGY DIVISION • SYSTEMS AND OPERATIONS DIVISIONS • COMPLIANCE AND DATA DIVISION • LEGAL AFFAIRS DEPARTMENT 2. CORPORATE BANKING AND FINANCIAL INSTITUTIONS GROUP This group is responsible for serving the banking needs of large corporate clients, in the public and private sectors, managing correspondent banking relationships, overseas operation and undertaking money market/capital market transactions. The group is organized in four divisions’ namely corporate banking, investment banking, international and treasury. The group comprises of the following divisions. • CORPORATE AND INVESTMENT BANKING DIVISIONS • INTERNATIONAL DIVISION • TREASURY DIVISION 3. RETAIL BANKING GROUP The retail-banking group is responsible for serving the banking needs of the retail market comprising of the individual consumers and small and medium size enterprises. These market segments are gaining increasing importance since the margins in the corporate and the commercial banking segments have reduce to unprecedented levels, while margins in the retail markets though considerably reduce, are still much better then the former. The group comprises of the following divisions. • ASSETS PRODUCTS DIVISION • CREDIT CARDS DIVISION • PLANNING AND CORPORATE AFFAIRS DIVISION • HUMAN RESOURCE DIVISION • FINANCE DIVISION • INTERNAL AUDIT DIVISION ROLES AND RESPONSIBILITIES Askari Bank seeks to maintain high standards of service and ethics enabling it to be perceived as impartial, ethical and independent. In addition to the general guidelines, the following are the salient features of the Bank’s code of ethics and conduct. Presence of a corporate culture that seeks to create an environment where all employees are treated equitably and with respect. Employees must carry out their responsibilities in a professional manner at all times. They must act in a prudent manner and must avoid situations that could reflect unfavorably on themselves, the Bank or its customers. Employees must commit to the continued development of the service culture in which the Bank consistently seeks to exceed customers’ expectations. Fairness, Truthfulness and Transparency govern our customer relationships in determining the transactional terms, conditions, rights and obligations. Employees must safeguard confidential information which may come to their possession during the discharge of their responsibilities. Respect for customers’ confidential matters, merits the same care as does the protection of the Bank’s own affairs or other interests. Employees must ensure that ‘know your customer’ principles are adhered to by obtaining sufficient information about the customers to reasonably satisfy ourselves as to their reputation, standing and the nature of their business activities. Employees must avoid circumstances in which their personal interest conflicts, or may appear to conflict, with the interest of the Bank or its customers. Employees must never use their position in the Bank to obtain personal advantage or gain. Employees must not enter into an agreement, understanding or arrangement with any competitor with respect to pricing of services, profit rates and / or marketing policies, which may adversely affect the Bank’s business. Employees must not accept gifts, business entertainment or other benefits from a customer or a supplier / vendor, which appear or may appear to compromise commercial or business relationship. Employees must remain alert and vigilant with respect to frauds, thefts or illegal activities committed within the Bank premises. ASSETS The current bank assets according to recent financial statements are 992,923,000 including PPE, loans, customer liability on acceptance, investment, treasury securities, and other assets. LIABILITIES The current bank liabilities according to recent financial statements are 938,242,000 including deposits, debts, provision for risk and charges, differed tax liabilities etc. FACILITIES • • • • • • • • • • • • • • • • • Credit and advances department Fund Based Loan Running Finance Cash finance Term finance Clean term finance Secured term finance Term finance DHA Staff finance Askari personal finance Trade finance Import related finance Finance against packing credit Post shipment finances Non fund-based finance Letter of guarantee Letter of credits TYPE OF BANK The registered office of the Bank is situated at AWT Plaza, The Mall, Rawalpindi. The Bank obtained its business commencement certificate on February 26, 1992 and started operations from April 1, 1992. Army Welfare Trust directly and indirectly holds a significant portion of the Bank's share capital at the period end. The bank is listed on the KARACHI, LAHORE AND ISLAMABAD Stock Exchanges and its share is currently the highest quoted from among the new private sector banks in Pakistan. Askari Bank Limited is a Pakistan-based commercial bank engaged in the provision of general banking services. Its segments include corporate financing, which includes corporate and investment banking activities; trading and sales, which includes the Bank’s treasury and money market activities; retail banking, which provides services to small borrowers and includes loans; commercial banking, which provides services related to project finance, trade finance, lending, bills of exchange and deposits from corporate customers; payment and settlement, which includes income from payments and collections; agency service, which includes income from rent of lockers provided to customers, and subordinated loans, which represents term finance certificates issued by the Bank. The Bank has 227 branches (December 31, 2009: 226 branches); 226 in Pakistan and Azad Jammu and Kashmir, including 31 Islamic Banking Branches, 22 sub-branches and a Wholesale Bank Branch in the Kingdom of Bahrain. A shared network of 4,173 online ATMs covering all major cities in Pakistan supports the delivery channels for customer service. As at December 31, 2009, the Bank had equity of Rs. 14.95 billion and total assets of Rs. 254.33 billion, with 984,485 banking customers, serviced by our 6,159 employees. STATE BANK CONNECTION The main purpose of the state bank is to "regulate the issue of banks notes and keeping reserves because of securing monetary stability with in a country and also operate the currency system as well as the credit system with in a country". Askari bank works on the rules and regulations provided by state bank and state bank keeps check on the bank HOW THEY ARE CONNECTED TO OTHER BANKS AS WELL Banks are connected to each other by the NIFT. It acts as a clearing house and is a department of SBP. When cross banks transactions occurs it first go to NIFT then NIFT confirms the transaction from other bank and then give green signal to the first Bank.
