virtual university of pakistan evaluation sheet for
TRANSCRIPT
INTERNSHIP REPORT 1
Prepared By: Aisha Malik
Virtual University of Pakistan
Evaluation Sheet for Internship Report
Fall 2010
FINI619: Internship Report (Finance) Credit Hours: 3
Name of Student: Ayesha Awan
Student’s ID:
Evaluation Criteria Result
Report writing Pass
Presentation & Viva voce
Final Result
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INTERNSHIP REPORT
NATIONAL BANK OF PAKISTAN
Submitted To:
Virtual University
Submitted By:
Ayesha Awan
Program:
MBA Session (2009-2011)
Submission Date:
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Letter of Undertaking
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Internship Certificate
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Dedication
I dedicate this internship report to my parents. Because of their prayers and
encouragement I have been able to complete this report.
Praise is to Allah, the most Gracious and Merciful, who blessed me with the knowledge
and wisdom and enabled me to overcome this task. Heartiest gratitude to my parents
without their continuous encouragement and love I could not have accomplished this
task.
I am very grateful to NBP Branch staff members for their continuous help, support, and
time, guidance and encouragement during the entire course of my internship.
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ACKNOWLEDGEMENT
“This internship is dedicated to our parents, family members and our
friends; who always inspired us in every step to accomplish this study”.
It is a great honor for me to work on the assigned topic and I feel glad to
accomplish my task. Along with our sincerity and interest, there are few people, who
really helped us to make this endeavor to be a successful one. At first, we would like to
pass our appreciation, gratitude and thanks to our honorable NBP Branch Manager.. His
valuable suggestions and ideas in every step of our work helped us a lot to prepare this
report. I am very much grateful to NBP other staff members, who also contributed a lot in
accomplishing this piece of work to be a successful one. Lastly, I want to say that without
the commitment and support of those persons, this report would never be taken shape.
For these reasons, I am truly thankful to those people.
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Executive Summary
ational Bank of Pakistan has
a solid foundation of over 60 years in Pakistan,
with a network of over 900 branches, over 750
of which are Automated Branches, NBP's
operations continued to be streamlined with
focus on rationalization of expenses, re-
alignment of back-end processing to increase
productivity, enhancement of customer service
standards, process efficiency and controls. The
Bank has taken the lead in introducing the
innovative concept of centralizing trade Services in the country by providing centralized
foreign trade services to branches with a view to improve efficiency, expertise and reduce
delivery cost.
During my internship in NBP I worked in Remittances, Advances/Agriculture, Accounts,
Establishment and Government department and I successfully completed all the
task/duties that were assigned to me.
During the course of internship I learned about different functions performed by
Remittances, Advances/Agriculture, Accounts, Establishment and Government
department and bank as a whole. I also learned bank’s correspondence with their
customers and within branches. I learned about documentation requirements and record
keeping for different activities and processes, especially the documentation requirement
for different kinds of financing facilities.
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Table of Contents
Title page 1
Letter of Undertaking 2
Internship certificate 3
Dedication 4
Acknowledgement 5
Executive summary 6
Table of Contents 7-9
1. Brief introduction of the organization’s business sector 10
2. Overview of the organization 11-23
a. Brief history
b. Organizational Hierarchy chart
c. Business volume
d. Product lines
e. Competitors
f. Brief Introduction of all the departments
g. Comments on the organizational structure
3. Plan of internship program 24-25
a. A brief introduction of the branch where you did your internship
b. Starting and ending dates of your internship
c. Names of the departments in which you got training and the duration of your
training
4. Training program 26-30
Detailed description of the tasks assigned to you during the internship program.
OR
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Detailed description of the project (s) assigned to you during the internship
program.
5. Ratio Analysis 31
a) Liquidity Ratios 31-34
• Current Ratio
• Acid Test Ratio
• Working capital
b) Leverage Ratios 35-40
• Times Interest Earned
• Debt Ratio
• Debt / Equity Ratio
• Debt to Tangible Net worth Ratio
• Total Capitalization Ratio
c) Profitability Ratios 41-49
• Net Profit Margin
• Return on Assets
• DuPont Return on Assets
• Operating Income Margin
• Return on Operating Assets
• Return on Total Equity
• Gross Profit Margin
d) Activity Ratios 50-52
• Total Assets Turnover
• Fixed Assets Turnover
e) Market Ratios 53-55
• Dividend per share
• Earning per Share
• Price/Earnings Ratio
6. Future Prospects of the Organization 56
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7. Conclusion 57
8. Recommendations for Improvement 58-59
9. List of References 60
10. Annexes 60
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8 - Brief introduction of the organization’s business sector
Banking & Finance – History
National Bank of Pakistan is the largest commercial bank operating in Pakistan. Its
balance sheet size surpasses that of any of the other banks functioning locally. It has
redefined its role and has moved from a public sector organization into a modern
commercial bank. The Bank's services are available to individuals, corporate entities and
government. While it continues to act as trustee of public funds and as the agent to the
State Bank of Pakistan (in places where SBP does not have a presence) it has diversified
its business portfolio and is today a major lead player in the debt equity market, corporate
investment banking, retail and consumer banking, agricultural financing, treasury
services and is showing growing interest in promoting and developing the country's small
and medium enterprises and at the same time fulfilling its social responsibilities, as a
corporate citizen.
National Bank of Pakistan is today a progressive, efficient, and customer focused
institution. It has developed a wide range of consumer products, to enhance business and
cater to the different segments of society. Some schemes have been specifically designed
for the low to middle income segments of the population. These include NBP Karobar,
NBP Advance Salary, NBP Saiban, NBP Kisan Dost, and NBP Cash n Gold
It has implemented special credit schemes like small finance for agriculture, business and
industries, administrator to Qarz-e-Hasna loans to students, self employment scheme for
unemployed persons, public transport scheme. The Bank has expanded its range of
products and services to include Shariah Compliant Islamic Banking products. For the
promotion of literature, NBP recently initiated the Annual Awards for Excellence in
Literature. NBP will confer annual awards to the best books in Urdu and in all prominent
regional languages published during the defined period. Patronage from NBP would help
creative work in the field of literature. The Bank is also the largest sponsor of sports in
Pakistan. It has provided generously to philanthropic causes whenever the need arose.
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9. Overview of the organization
a) Brief History:
National Bank of Pakistan maintains its position as Pakistan's premier bank determined to
set higher standards of achievements. It is the major business partner for the Government
of Pakistan with special emphasis on fostering Pakistan's economic growth through
aggressive and balanced lending policies, technologically oriented products and services
offered through its large network of branches locally,
internationally and representative offices.
We aim to be an organization that is founded on…
Growth through creation of sustainable relationships with
our customers.
Prudence to guide our business conduct.
A national presence with a history of contribution to our communities.
We shall work to…
Meet expectations through Market-based solutions and products.
Reward entrepreneurial efforts.
Create value for all stakeholders.
We aim to be people who…
Care about relationships.
Lead through the strength of our
commitment and willingness to
excel.
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Practice integrity, honesty and hard work. We believe that these are
measures of true success.
The story of National Bank of Pakistan is part of our struggle for economic
independence. When we won political independence, our economy was controlled by
Non-Pakistanis, mostly Hindus. After partition over 7 million people came to West
Pakistan and about 5 million went out. East Pakistan was spared from massive migration
but its economy was also, being dependent on Calcutta, badly hurt. Most bankers and
business experts left Pakistan and the economic life was brought to a standstill: these,
mostly branches of Imperial Bank of India were only in partial operation with skeleton
staff.
The mood and temper of movement being against the normal flow of trade across
the borders of India & Pakistan, for about one year we could not procure cloth or
consumer usable from India and we had little resources to resort to other countries for
purchase thereof; we did not have an organized business or industry structure. It was a
challenge and demanded a response, which developed soon & mercantile community
grew fast and established overseas contacts. After this commercial phase, in 1950 started
the industrial phase – jute and cotton industries were started during 1950-55.The number
of bank offices fell from 631 to 195 after partition.
Today’s NBP
In today's competitive business environment, NBP needed to redefine its role and shed
the public sector bank image, for a modern commercial bank. It has offloaded 23.2
percent share in the stock market, and while it has not been completely privatized like the
other three public sector banks, partial privatization has taken place. It is now listed on
the Karachi Stock Exchange.
National Bank of Pakistan has built an extensive branch network with 1250 branches in
Pakistan and operates in major business centre abroad. The Bank has representative
offices in Beijing, Tashkent, Chicago and Toronto.
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National Bank has earned recognition and numerous awards internationally. It has been
the recipient of The Bank of the Year 2001, 2002, 2004 and 2005 Award by The Banker
Magazine, the Best Foreign Exchange Bank –– Pakistan for 2004, 2005, 2006 and 2007, Global
Finance, Best Emerging Market Bank from Pakistan for the year 2005, Global Finance, Kissan
Time Awards – 2005 for NBP's services in the agriculture field. It is listed amongst the
Region's largest banks and also amongst the largest banks in South Asia 2005, The Asian
Banker. It has also been presented a Recognition Award –– 2004 for having a Gender
Sensitive Management by WEBCOP AASHA besides other awards.
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b) Organizational Hierarchy Chart
Management
Support
Division
Audit &
Inspection
Division
Treasury
Management
Division
Credit Policy
& Management
Division
Marketing
Development
Division
Overseas
Banking
Division
Special assets
Management
Division
Management
Information &
Tech. Div
85 Branches
8
Zones
Regional
Headquarters
Karachi
117 Branches
5
Zones
Regional
Headquarters
Hyderabad
198 Branches
6
Zones
Regional
Headquarters
Multan
128 Branches
4
Zones
Regional
Headquarters
Faisalabad
158 Branches
10
Zones
Regional
Headquarters
Lahore
166 Branches
8
Zones
Regional
Headquarters
Islamabad
198 Branches
8
Zones
Regional
Headquarters
Peshawar
53 Branches
3
Zones
Regional
Headquarters
Quetta
90 Branches
3
Zones
Regional
Headquarters
Muzafarabad
President
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Head Office Set Up
Four Overseas
Regional Chiefs
Assets & Liability
Committee
Credit
Committee
Operations
Committee
I.T. Steering CommitteeTraining & HR Steering Committee
PSO & Secretariat
Secretary BOD
HR
Management
Department
Organization
Development
& Training
Department
Strategic
Planning &
Economic
Research
Group
Chief Coordinator
Islamabad
BOD Audit
Committee
Board
of
Directors
Operations
Group
Finance
Group
Corporate &
Investment
Banking
Group
Risk
Management
Group
Commercial &
Retail
Banking
Group
Audit
&
Inspection
Group
Special Assets
& Remedial
Management
Group
IT Planning
Development
& Implementation
Group
President
&
Chairman
Board of Directors
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c) Business Volume
d) Products of NBP
1. Premium Aamdani
2. Premiun Saver
3. Karobar
4. Saibaan
5. Advance Salary
6. Cash Card
7. Kisan Taqat
8. PakRemit
9. Kisan Dost
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10. Protection Shield
11. NBP Islamic banking
SERVICES PROVIDED BY NBP
Demand Draft
Mail Transfer
Pay Order
Traveler Cheques
Letter Of Credit
Commercial Financ
Foreign Remittance
Equity Investment
Short Term Investment
National Income Daily Account:
Trade Finance other Businesses Loans
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e) Competitors
1. MCB Bank Limited,
2. United Bank Limited,
3. Faysal Bank,
4. Habib Bank Limited,
5. Citi Bank,
6. HSBC Bank,
7. Standard Chartered Bank,
8. Al-Barka Bank,
9. Alfalah Bank Limited
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f) Brief Introduction of All Departments
Cash Department
Cash department mainly deals in cash. The Head of department is Mr. Fazul-Ur-Rehman
and one cashier Muhammad Haneef are specialized in this section and have daily cash
reconciliation of cash balance with their ledger system. The objective of cash department
is to “To facilitate people in the payments of their bills and taxes and repayments of
cash.”
There are two main functions of cash department.
1st is Payment & 2
nd is Receipts.
Accounts Department
Following are different functions performed by this department:
Preparation of Financial Statements for different time span
Maintain all accounts of different departments
Calculation of profit on different schemes
Calculation of markup on different advances
Preparation Different types of reports for State Bank
Daily position of cash & every accounts
Matching daily summaries of all departments with ledger
Accounts Opening & Closing
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Remittance Department
This department is headed by Abdul Majeed a very competent person. The
objective of this department is:-
“To transfer the money from one place to another place in safe and comparable
way”
The main functions of this department are:
o Issuing of DD
o Issuing of MT
o Issuing of TT
o Issuing of PO
Advances department
Every bank has a department which advances money to borrowers. In NBP
branch the advances department is head by the Mr. Faqeer Hussain and Muhammad
Hussain, both are very competent person. The objective of Advances Department is “To
facilitate people by giving short term and long term loans on easy terms and conditions”.
The main function of this Department is to take surplus money from the people at low
rates and lend this money to borrowers at high rates to earn profit.
Advances Types
Agricultural Advances
Commercial Advances
Industrial Advances
NBP divided the advances in to two major types:
Fund Based
Non Fund Based
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Clearing Department
In NBP Branch this department is headed by Mr. Qurban Khan having experience
of about many years. The objective of this department is to “To facilitate customers for
payment their Cheque of other banks”.
1. To accept Transfer, Transfer delivery, clearing and collection cheque from the
customers of the branch and to arrange for their collection.
2. To arrange the payment of cheque drawn on the branch and given for collection to
any other branch on NBP or any other members or sub member of the local
clearing house.
3. To collect amount of cheque drawn on members, sub-member of local clearing
house, sent for collection by NBP Branches, not represented at the local clearing
house.
Establishment Department
This department mainly deals with the branch employees.
Main functions of this department are:
Keeps the record of attendance of employees.
Employee’s salaries distribution.
Environment of Bank
Employee’s bonuses benefit etc.
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Government Department
This department performs the following work for government is:
Received Tax (income tax, properties tax, penalties, fees etc.).
Receive Challan charges from customer
Pension payment
Utility Bill Payments
Government Employee Salaries
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G) COMMENTS ON THE ORGANIZATIONAL STRUCTURE
City of agriculture products and this is the reason that NBP has the esteem products &
services regarding agriculture lines and small loans facilities to customers.
In National Bank of Pakistan Branch have nineteen employees to deal with different
customer, and I am inspired of NBP staff and hierarchy because this is better in other
branches that are in city. National Bank is Government Bank; all the government
transactions like govt. taxes, govt. employee salaries, and etc are processed from NBP.
To some extent, I have the suggestion that the branch customers and banking transactions
are much high then others banks branches at city. So, the Bank has to increase the
employees at branch to provide better services in a valuable time to their customers to
present their self in a better way to gain and maintain the market share.
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10. PLAN OF INTERNSHIP PROGRAM
a) Brief Introduction of the Branch
In the beginning the Branch was not enough established and equipped with modern
amenities. Insufficient facilities were the hindrance to get customer’s contentment. To
overcome all problems, management of the bank decided to move to another location
with better building and technology. As the national bank of Pakistan gives the services
on the public sector level, it was vital to satisfy the customers according to their
perception and requirements. National Bank of Pakistan is not only limited to the public
sector but also accounted for Government’s financial matters as receipts and payment of
taxes, bills etc.
The management of the bank putted across this issue to the top management’s view and
finally with the staff’s endeavor it was shifted in new building in January 17, 2009 and
started services with new zeal and encouragement. This achievement was acknowledged
under the time period when the was the AVP Manager of National Bank of Pakistan ,
Main branch. Now the new building is running very smoothly with high technology and
well experienced staff.
Renovation of new Building commenced by (AVP) after the launching of New Building
of National Bank main Branch by SVP-Regional Business Chief National Bank of
Pakistan, Regional Office Multan.
Opening observance of National Bank main Branch for ATM was started by the group’s
Chief (Information Technology June, 2005).
b) Starting and Ending Dates
Starting Date 01 December, 2010
Ending Date 21 January, 2011
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c) Names of the departments & Duration
In NBP branch, I almost spend 7 weeks in different departments which are given as
under:
1. Accounts Opening Dept. 1 ½ Week
2. Clearing Dept. 1 Week
3. Advances/Agriculture Dept. 2 Week
4. Cash Dept. 2 Day
5. Govt. Dept. 1 Day
6. Establishment Dept. 3 Days
7. Remittance Dept. 1 ½ Week
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11. Training Program
I joined NBP Branch at start of December 2010. I learn different things from the
Banking/ Business environment. This is really a different environment from our study
life. I really enjoyed myself in this new organization. Theoretically, it’s impossible to
learn each and every thing from the subjects when we study we have no idea about the
business sector, after getting knowledge and experience of working at these sectors. We
will capable to implement that knowledge in our working environment and gain valuable
experience for our future career growth. NBP branch has so much co-operative staff, they
helped me a lot to learn different department’s work, I personally believe the time span
given to us is too short to see deeply in each and every department’s activities in a keen
manner but with the help of staff I feel much confident to give my best in this short span
of time. I thanked a lot to NBP Employees for helping to implement my books
knowledge in a working environment.
Description of Task Assigned to Me
I have learnt and work in following departments:
1. In Accounts Opening Dept.
On the very first day I was introduced with this department and learnt under the
guidance of Mr. Maqbool. On my first day he said to me just to observe the working
of the dept and customer’s dealing also. He guided me about documentations of the
account opening like account opening form, NIC verification procedure and about
necessary attachments of the customer’s identity. After the detailed guidance he
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inquired me to do the same as he did before me under his observation. So I used to fill
the account opening form of 2 or 3 customers then after taking the signatures or
thumb stamp (if customer is illiterate) entrance took place into the account opening
register for the record of the customer. I also used to issue the chuque books on the
basis of the PLS & Current account. I have also learnt that how to record the first
deposit after account opening.
In NBP Branch, Mr. Muhammad Saddique Khan is the head of Accounts opening
department, he is very vigilant, active and experience employee. He helped me to
look after these things. In accounts opening department, it takes to me a challenge to
learn in one and half week, this time span is not enough to keep an eye on every
activity.
2. In Clearing Dept.
In NBP Branch this department is headed by Mr. Qurban Khan having experience of
about many years. In this department I worked one week and learnt different techniques
of clearing department. Which I explained as under:
A clearing house is an society of commercial banks locate in State Bank of Pakistan for
interchange and settlement of credit claims.
Every banker acts both as a paying as well as a collecting banker; it is an important
purpose of crossed cheque. A bulky part of this work is carried out through the bankers
clearing house. This department is very technical and complicate in my point of view
because I found it very complex huge dealings with other banks.
My training officers had given me the two books and show the working of the clearing of
the cheques. I remember he told me about the names of those books;
Inward Clearing Book
Outward Clearing Book
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Inward clearing book keeps the record of cheques that are received from other banks for
the clearing whereas in outward Clearing Book keep the record of cheques that are
delivered by the bank for the clearing purpose and also record the amount, date and
account number.
All statements of clearing are submitted before the 1:00 pm.
3. In Advances/Agriculture Dept.
In NBP branch the advances department is head by the Mr. Faqeer Hussain and
Muhammad Hussain, both are very competent person. With both of them I spend a
really good time from learning aspects and this is the main area of any banking
industry and most technical site of any banking industry, in which I spent one and
half week, this department uses the surplus funds of customers and lend to borrowers
to gain profit. This portion of bank has many steps. They both helped me but I
personally believe that this is not as easier as this looks like. But still I learnt the main
things and describe the important aspects of this area.
Firstly I was said to be observed the work of department with full attention then
consigned some task also. I read the form of loans against gold and salary basis
advances. I was also assigned to solve some question by the training officer for the
better understanding of markup calculations. He briefed me about key questions
asked to customer and proper investigation criteria before issuing of the loans. I learnt
about how to disbursement take place. He emphasized specially on the importance of
the vital documentation and gave me brief detail about it then next day he asked about
what he told me last day in detail description.
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4. In Cash Dept.
In cash department of NBP, I spend almost two days where I learnt different things.
Cash department mainly deals in cash. The Head of department is Mr. Fazul-Ur-
Rehman and one cashier Muhammad Haneef are specialized in this section and have
daily cash reconciliation of cash balance with their ledger system.
They both guided me about the core practices of this dept. I have learnt that this dept.
is revolving within two functions that are payments & receipts. I learnt that how to
verify the cheque at the time of the payment. I used to verify the customer’s
signatures, amount written on the cheque, balance of the customer’s account to
confirm the demanding payment. After this the cashier pay the amount to customer
and entry of the cheque serial number, amount paid and account number take place in
the cash book for the record. In the same way I worked in the receipt section under
the observation of the training officer.
5. In Govt. Dept.
This department plays important role for their customer in National Bank of Pakistan
Branch on the behalf of government. The head of this department is Mr. Amjad
Hafeez. This department I worked only One day. I learnt that this dept. mainly work
on pensions, taxes, chalan received and govt. employees salaries. Mr.Amjad guided
me about the procedure of the pension and taxes. I assigned the task of record the
amounts in the pension register and also used to take the signatures or thumb stamp in
the pension register. I also used to make the day ended scroll of pension payments.
Besides I used to stamp out the chalans against different traffic ruination of the rules.
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6. In Establishment Dept.
NBP Branch having an Establishment Department. This Department consists of only one
person Madam Fatima very competent and experienced person with high confidence
level. She is so much nice and co-operative person, dealing with politely I spend three
days with her and see the main functions of the department.
In this department the main thing I learnt that is management related to the bank’s
employees. My training officer Madam Fatima told me about department main functions
performed by her. She guided about the importance of this department by show me the
records of the employees on the computer software. Their salaries, attendances, and
bonuses benefits and she more emphasized on the healthy and stable environment of the
bank. I learnt a lot under her guidance.
7. In Remittance Dept.
In this department I spent one and half week. Mr. Abdul Majeed the head of the dept.
helped me a lot. This is a very informative department and inspires me from the ways this
department work. We study in the courses that the online DD, PO, TT etc but never get
the chance to see the transactions, the online payments makes easier banking system to its
customers, facilitating online deposits, payments and cash transfer from one bank to
another or one city/country to another within some hours. I got the knowledge of the
remittance department and explain some things which are compulsory for these kinds of
remittance. I made the drafts for many customers and observed the procedures how to
transfer MT, DD and TT.
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12. RATIO ANALYSIS
a) LIQUIDITY RATIOS:
Liquidity ratios measure a firm’s ability to meet its current obligations.
These include:
Current Ratio:
Current Ratio = Current Assets / Current Liabilities
2009 856,706,861 / 782,364,132 1.0950
2008 745,785,752 /675,617,003 1.1038
2007 705,275,649 / 609,784,513 1.1565
Working:
CA = Cash and balances with treasury banks+ Balances with other banks+ lending to
financial institutions - net + investments – net + advances - net
CL = Bills payable + Borrowings from financial institutions + deposits & other accounts
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0
0.5
1
1.5
2
2009 2008 2007
Ratio
INTERPRETATION:
From the above-calculated figures, it has been deduced that the current ratio has
fluctuated over three years time span. As in the year 2007 NBP had the high ability to
meet it current liabilities from its current assets. Where as current ratios of 2008 and 2009
posses low ability to meet its current liabilities that indicate the less liquid position of the
bank.
Acid Test Ratio:
There is no inventory in the banking structure instead of inventory we’ll excluded
pre-payments from the current assets. Pre-payments are the expenditures that are paid
in advance and cannot be apprehend in cash.
Acid Test Ratio = Current Assets – Inventories – prepaid expenses / current
liabilities
2009 (856,706,861 – 59316438) / 782,364,132 1.019
2008 (745,785,752 – 44550347) / 675,617,003 1.037
2007 (705,275,649 – 30994965) / 609,784,513 1.105
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0.96
0.98
1
1.02
1.04
1.06
1.08
1.1
1.12
2009 2008 2007
Ratio
Working:
CA = Cash and balances with treasury banks+ Balances with other banks+ lending to
financial institutions - net +investments - net + advances - net
Prepaid Expenses = other assets
CL = Bills payable + Borrowings from financial institutions + deposits & other accounts
INTERPRETATION:
In 2007 NBP had enough liquid assets from which it can meet urgent liabilities easily but
this position can’t be maintain in 2008 and then more decreased in 2009 that point toward
the weak capability to meet up its immediate liabilities.
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Working Capital Ratio
Working Capital = Total Current Assets – Total Current Liabilities
2009 856,706,861 - 782,364,132 74342729
2008 745,785,752 - 675,617,003 70168749
2007 705,275,649 - 609,784,513 95491136
0
20000000
40000000
60000000
80000000
100000000
120000000
2009 2008 2007
Ratio
Working:
CA = Cash and balances with treasury banks+ Balances with other banks+ lending to
financial institutions - net + investments - net + advances - net
CL = Bills payable + Borrowings from financial institutions + deposits & other accounts
INTERPRETATION:
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From the above-calculated figures, in 2007 year working capital was enough
positive but decreased in 2008 then in 2009 its tend to be again little bit up after falling.
Working capital is more a measure of cash flow than a ratio. The result of this
calculation must b a positive number. Bankers look at net working capital over time to
determine a company’s ability to weather financial crises. Loans are tied to minimum
working capital requirements.
b) Leverage Ratios:
Leverage ratios measure the degree of protection of suppliers of long term funds.
These include:
Times Interest Earned = EBIT + interest expenses / interest
2009 22,300,173+23,513,897/23,513,897 =1.95
2008 23,000,998+19,502,080/19,502,080 =2.18
2007 28,060,501+14,391,079/14,391,079 =2.95
0
0.5
1
1.5
2
2009 2008 2007
Ratio
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Working:
year Earning before taxes: Non mark up/ interest
expenses
2009 22,300,173 23,513,897
2008 23,000,998 19,502,080
2007 28,060,501 14,391,079
INTERPRETATION:
This debt/worth or Leverage ratio indicates the extent to which business is reliant
on debt finance. The higher this ratio the more risky a creditor will perceive its exposure
in your business. From the calculated figures NBP decrease this ratio from last three
years which is a positive sign for banks financial standing.
Debt Ratio:
Debt Ratio = Total Debt /Total Assets
2009 (824676384 / 944232762) 0.87
2008 (715299108 / 817758326) 0.87
2007 (645855939 / 762193593) 0.84
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0.82
0.83
0.84
0.85
0.86
0.87
0.88
2009 2008 2007
Ratio
Working:
Total Debt = Bills payable + Borrowings + Deposits and other accounts +
Liabilities against assets subject to finance lease + other liabilities
Total Assets = Cash and balances with treasury banks + Balances with other
banks + Landings to financial institutions + Investments + Advances + Operating
fixed assets + Deferred tax assets + other assets
INTERPRETATION:
From the above figure, this ratio increases from the last two years, because from
the previous years the current liabilities increase much then current assets. The low the
ration the high bank position will be and more favorable for deposits and future lending.
Debt/Equity Ratio:
Debt/Equity Ratio=Total liabilities/Shareholder Equity
2009 824676384 / 94791919 =8.69
2008 715299108 / 81367002 =8.79
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2007 645855939 / 69270631 =9.32
8.2
8.4
8.6
8.8
9
9.2
9.4
2009 2008 2007
Ratio
Working:
Total liabilities: Bills payable + Borrowings + Deposits & other account + Liabilities
against subject to the finance lease + other assets
Shareholder Equity: share capital + un-appropriated profit & other reserves
INTERPRETATION:
Above calculations and trend analysis shows that NBP has very positive figures that
reflect the strong position of the capital formation of the bank. All years are presenting
the high debt to the equity ratios. So NBP has stumpy financial hazard as it is well
financed with internal funds.
Debt to Tangible Net worth Ratio:
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Debt to Tangible Net worth Ratio = Total Debt / Equity – intangible assets
2009 824676384 / 94791919 - 17530 8.701
2008 715299108 / 81367002 - 5925 8.791
2007 645855939 / 69270631 - 8578 9.324
8.2
8.4
8.6
8.8
9
9.2
9.4
2009 2008 2007
Ratio
Working:
Total Debt = Bills payable + Borrowings + Deposits and other accounts + Liabilities
against assets subject to finance lease + other liabilities
Shareholders Equity = Share Capital + Capital Reserves + Un-appropriated Profit and
other reserves
INTERPRETATION:
In 2007 ratio was very high that shows the riskier position of the bank but later on in last
two year bank’s leverage on long term debt is increased and ratios went down that is the
good sign for the financial health of the NBP.
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Total Capitalization Ratio:
Total capitalization ratio = long term debt /long term debt + owner’s equity
2009 2008 2007
42,312,252 / (42,312,252 +
94,791,919)
= 0.31
39,682,105 / (39,682,105
+81367002)
=0.33
30,973,595 / (30,973,595
+69270631)
=0.34
0.29
0.3
0.31
0.32
0.33
0.34
0.35
2009 2008 2007
Ratio
Working:
Long term debt = Liabilities against assets subject to finance lease + other liabilities
+long term deposits
Owner’s Equity = = Share Capital + Capital Reserves + Un-appropriated Profit and
other reserves
INTERPRETATION:
Total capitalization ratio for the respective year’s show that the long term debts of the
NBP are decreasing faintly year by year. So it’s mean that in the comparison with the
existing capital bank is in pretty good situation of capitalization but need more.
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c) Profitability Ratios:
Net Profit Margin:
Net Profit Margin = Net profit / Net sales * 100
2009 18211846/77947697*100 23.36%
2008 15458590/60942798*100 25.36%
2007 19033773/50569481*100 37.64%
0
5
10
15
20
25
30
35
40
2009 2008 2007
Ratio
Working:
Amounts are taken from profit & loss statement
Net profit = Profit after taxation
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Net sales = markup / return / interest earned
INTERPRETATION:
The ratio is used for the measurement of the profitability of the bank whether bank
generate favorable profit or not. Above figures & ratios show that with the every passing
year the ratio of net profit margin tended to be decreased because of high sales overheads.
Return on Assets Ratio:
Net profit after tax/ total assets
2009 18211846 / 944232762 1.93%
2008 15458590 / 817758326 1.89%
2007 19033773 / 762193593 2.50%
0
0.5
1
1.5
2
2.5
3
2009 2008 2007
Ratio
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Working:
Amount are taken from profit & loss statement
Net profit after tax = Net profit available for appropriation
Amounts are taken from balance sheets
Total assets = Cash and balances with treasury banks + Balances with other banks +
Landings to financial institutions + Investments + Advances + Operating fixed assets +
Deferred tax assets + other asset
INTERPRETATION:
The ROI shows how profitable a company's assets are in generating revenue i.e.
how many rupees of earnings they derive from each rupee of assets they control the
return on total assets often called the return on investment (ROI), measures the overall
effectiveness of management in generating profits with its available assets. The higher
the firm’s return on total asset the better the value shows that the company earned.
This ratio measures overall effectiveness in generating profits with available
assets; earning power of invested capital. The ratio has increased in 2007 but fallen down
in 2008. Above figures shows that in 2009 the ratio has little bit upward trend.
DuPont return on assets:
(Net profit / Net sales) / (sales / total assets)
2009 0.233 / 0.08 2.91
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2008 0.253 / 0.07 3.61
2007 0.376 / 0.07 5.37
0
1
2
3
4
5
6
2009 2008 2007
Ratio
Working:
Amounts are taken from profit & loss statements
Net profit = Profit after taxation
Net sales = markup / return / interest earned
Sales = markup / return / interest earned
Amounts are taken from balance sheets
Total assets = Cash and balances with treasury banks + Balances with other banks +
Landings to financial institutions + Investments + Advances + Operating fixed assets +
Deferred tax assets + other asset
INTERPRETATION:
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ROA measures the rate of return on the ownership interest (shareholders' equity)
of the common stock owners. It measures a firm's efficiency at generating profits from
every rupee of net assets, and shows how well a company uses investment rupees to
generate earnings growth. A highly return on equity often reflects the firm’s acceptance
of strong investment opportunities and effective expense management. From year to year
it’s fluctuating in 2009 it is less than the previous and the current year also.
Operating Income Margin:
Operating Income Margin=EBIT or Operating Income / Sales * 100
2009 (22300173/ 77947697)*100 28.609%
2008 (23000998/ 60942798)*100 37.741%
2007 (28060501/ 50569481)*100 55.489%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
2009 2008 2007
Ratio
Working:
Amounts are taken from profit & loss statements
Operating Income and the EBIT are same.
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Sales = markup / return / interest earned
INTERPRETATION:
In 2007 NBP had good cost control and sales were also higher than costs that shows bank
had low cost operating representation. But the year 2008 trend is showing the low
operating margin ratio because of high percentage of costs. 2009 is less than the previous
years that is not the good position for the bank.
Return on operating Assets:
Net Income / Operating Assets
2009 (18,211,846 / 25,147,192) 72.4%
2008 (15,458,590 / 24,217,655) 63.8%
2007 (19,033,773 / 25,922,979) 73.4%
58.00%
60.00%
62.00%
64.00%
66.00%
68.00%
70.00%
72.00%
74.00%
76.00%
2009 2008 2007
Ratio
Working:
Amount are taken from financial statements
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Net profit after tax = Profit after tax
Operating Assets = Capital work in progress + Property & Equipments + Intangible
Assets For banking organizations Cash in hand, balances with
treasury banks and operating fixed assets are operating assets.
INTERPRETATION:
This ratio helps the management in measurement of the assets that are actually required
for the running of the business and guide them which assets are unnecessary has to be
reduce. Above figures and trends indicate the position of the operating assets. In 2008 it
was very low level of ROOA. But in 2007 & 2009NBP had good and positive position of
ROOA.
Return on Total Equity Ratio:
Net profit / Total equity
2009 18,211,846 / 94,791,919 19.21 %
2008 15,458,590 / 81367002 18.99 %
2007 19,033,773 / 69270631 27.47 %
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0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
2009 2008 2007
Ratio
Working:
Amount are taken from financial statements
Net profit after tax = Profit after tax
Owner’s Equity = = Share Capital + Capital Reserves + Un-appropriated Profit and
other reserves
INTERPRETATION:
ROE measures the rate of return on the shareholders' equity of the common stock owners.
It measures a firm's efficiency at generating profits from every rupee, and shows how
well a company uses investment to generate earnings growth. A highly return on equity
often reflects the firm’s acceptance of strong investment opportunities and effective
expense and liabilities management.
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Gross Profit Margin:
Gross Profit / Sales
2009 38458048 / 77947697 * 100 49.3%
2008 37058030 / 60942798 * 100 61%
2007 33629470 / 50569481 * 100 66%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
2009 2008 2007
Ratio
Working:
Amount are taken from profit & loss account
Gross Profit = Net markup/interest income
Sales = markup / return / interest earned
INTERPRETATION:
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This particular ratio tells us that whether our markup on goods normally covers
our expenses and therefore results in profit or not. If our gross profit rate is continually
lower than our average margin than its means something is wrong!
This ratio tells us the profit of the firm relative to sale. The ratio is decreasing
from the last year compared to previous years .That should be resolved by appropriate
solutions in upcoming year.
d) Activity Ratios:
Total Assets Turnover Ratio:
Net sales / Total Assets
2009 77947697 / 944232762 8.25%
2008 60942798 / 817758326 7.45%
2007 50569481 / 762193593 6.63%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
2009 2008 2007
Ratio
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Working:
Amount are taken from profit & loss statements
Net Sales = markup / return / interest earned
Amount are taken from balance sheets
Total Assets = Cash and balances with treasury banks + Balances with other banks +
Landings to financial institutions + Investments + Advances + Operating fixed assets +
Deferred tax assets + other asset
Interpretation:
From the ratio, it’s showing that the total assets turnover is increasing from
previous year drastically and assets are utilizing resourcefully in NBP.
Fixed Assets Turnover:
Sales / Fixed Assets
2009 77947697 / 25147192 3.10
2008 60942798 / 24217655 2.52
2007 50569481 / 25922979 1.95
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0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
2009 2008 2007
Ratio
Working:
Amount are taken from profit & loss statements
Net Sales = markup / return / interest earned
Operating Assets = Capital work in progress + Property & Equipments + Intangible
Assets
INTERPRETATION:
NBP is utilizing its fixed assets in very effective way that lead to produce more sales as
above figures shown yearly increase in the fixed turnover ratio.
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e) Market Ratios:
Dividend per share:
Dividend paid / number of shares issued
2009 5820338/1076370 5.40
2008 6104894 / 1076370 5.67
2007 19393263 / 896975 21.62
0
5
10
15
20
25
2009 2008 2007
Ratio
Working:
Amounts are taken from financial statement.
Dividend Paid:
2009: 5820338
2008: 6104894
2007: 19393263
Number of shares issued: number of ordinary shares
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INTERPRETATION:
The dividend has been paid with respect to issuing of bonus shares and earning had
increased with respect to previous year 2007.but from last two years it is reduce with
a big difference.
Earning per Share
Earning per Share = (Net profit after tax / number of shares issued)
2009 (18211846/ 1076370) 16.92
2008 (15458590 / 1076370) 14.36
2007 (19033773/ 896975) 21.22
0
5
10
15
20
25
2009 2008 2007
Ratio
Working:
Amounts are taken from financial statements (30.note)
Net profit after tax = profit after tax for the year
Number of share issued = average number of ordinary shares
INTERPRETATION:
Earnings per share for the year 2008 have been restated for the effect of bonus
shares issued during the year.
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Price/Earning Ratio:
Market value per share / Earning per share
2009 68.11 / 16.92 4.03
2008 149.93 / 14.36 10.44
2007 146.03 / 21.22 6.88
0
2
4
6
8
10
12
2009 2008 2007
Ratio
Working:
Figures for this calculation are taken from financial statements given below.
year Market value per share Earning per share
2009 68.11 16.92
2008 149.93 14.36
2007 146.03 21.22
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INTERPRETATION:
As the ratio predicts that the market value of NBP shares is increasing and standing bank
position in market is good and making profit against the price of the ratio.
13. Future Prospects of the NBP
National Bank of Pakistan has the following future prospects
Innovative products lending based on cash flow lending for storage and
processing of agricultural produce.
Extensive training of field functionaries to facilitate the Agri. Customers
NBP will continue to diversify their customer segments thereby increasing their
product offering.
Provision of reliable infrastructure for expansion of existing agriculture financing
making it capable to respond to the customer needs
Adequate & timely provision of credit to meet short, medium & long term
requirements of farm and non farm sectors
NBP commitment towards the employee’s development will continue, as believe
that a motivated and well-trained work force is necessary to ensure sustenance
and growth.
Guidance in judicious use of credit by assisting the farmers in management of
credit
Financing products on the media to raise awareness level of farming community
Financing to Model Farms in Crops, Fruits, Vegetables and Livestock for
developing synergies and linkages with the farming community
Strengthening of HR base both at field and controlling offices
Adequate Credit for precision land leveling, drip irrigation, sprinkler irrigation
Establishment of data bank in NBP regarding latest technologies and recent
innovations developed in the country regarding agro-food sector. Close liaison
with leading Universities/Colleges involved in research in this sector
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14. Conclusion
The bank has now completed more than 60 years, since partition and it is indeed
gratifying to note that during this period, NBP has performed well and has sustained its
growth in all major sectors.
NBP has been a pioneer among the banks in Pakistan, particularly in introducing a
number of innovative banking products and services. For the first time in the history f
Pakistan, these multifarious products mostly in the shape of saving schemes and
Agriculture loans to small farmers have been introduced by NBP with brand names. This
has set the trend and many other banks, both local and foreign, have since followed in
NBP’s footsteps, by launching new products and services on similar lines. The well
deserved credit for this good performance and progress must surely go to the Bank’s
Management, its Directors and, in no small measure, to the entire NBP team for its
dedication, concerted efforts and excellent team spirit.
Today the biggest challenge for banking industry in Pakistan is to retain existing
customers and tap new avenues to capture potential customers. As the spreads are
increasing the emphasis has shifted to high volume of profitable transactions. The key to
achieve this objective lies in dealing with the customers effectively and meeting their
expectations on a continuous basis.
This is the transformation of banking from product orientation to customer orientation.
Initially it was believed that banks are in finance industry and not in service industry but
now image has changed. For survival quality is the challenge in this era of cutthroat
competition high deposits and high profits are not the only source of survival.
So, the paradigm shifts customers and services become the life blood of any business.
Change in banking trends demand new type of banking services delivered actually in new
ways and new resources.
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15. Recommendation for Improvements
(On the basis of Ratio Analysis)
NBP should increase its current assets to meet the current liabilities timely and
this will also help the bank in future challenges of day to day business. In
comparison of 2007, in 2009 the liquidity of the NBP has decreased so it should
boost the short term investments or resources.
The Debt to the Equity ratio of the NBP is very high that is not good sign for the
financial health of the bank. So in my point of view NBP should pay off some of
its debt so that bank will be able to borrow the more debt in crisis.
NBP should cut off its administrative expenses & selling expenses so that costs
can be control instead of out of control. So that NBP’s capability of acceptance of
investment opportunities can be boost.
NBP should reduce its high debt and sales overhead so that it could enlarge the
gross profit margin and also maintain it. Bank should also enhance its selling
prices compare to the previous year.
Current ability of the NBP to value its shareholders is very from last two years. It
is very crucial to pay noticeable attention towards the low dividend per share. It
doesn’t mean that NBP is going unprofitable but need to be attentive about
reinvestments in the bank assets and other vital steps.
(On the basis of Internship)
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The most important recommendation I want to suggest that is recruitment of
new staff as the management structure is very congesting employee’s are not
enough for the main branch of the bank as there is huge dealing of the
customers.
NBP should hire more efficient market analyst for the purpose of effective
market approach by enhancing the awareness among the customer and the
common citizen of the Pakistan. This plan can be take place through the
advertisement and the educated presenters before the public for guided them.
Training of the employees with new technologies should be organized
frequently for the better understanding of new tools of software’s and
technologies.
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16. Reference & Resources used
Handouts of CS 101, FINI 602, MGT 101 and FINI 621
Advanced Accounts (M. A Ghani)
Banking Law and Practice by Khawaja Amjad Saeed
Money, Banking and Finance by Mian Riaz Ahmed
Bank Nationalization act 1974
Islamic Banking
www.nbp.com.pk
Annual report 2009
Annual report 2008
Information from branch employees
17. Annexes
Financial reports from this link
http://www.nbp.com.pk/Publications/index.aspx
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