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Executive Summary :
Internship Report on Uttara Bank’s Financial & Foreign Exchange Analysis:
This report contains the facts related to a particular organization in which the student was authorized to do internship on a three months basis. Supervisors, both from the university and from the organization, guided the student in writing this report. I was assigned for doing internship in Uttara Bank Limited for the time period starting from June 04, 2023 to September 03, 2023. During the internship at Foreign Exchange Branch of Uttara Bank Limited, I worked under all departments of the bank.
The rationale behind this study is exploring performance of Uttara Bank Limited which is reflected on its financial statement, foreign exchange activities and to provide some comments to improve its banking business. The analysis includes the horizontal (trend) analysis and ratio analysis of UBL’s past five years performance results. The study also includes foreign exchange activities of Uttara Bank Limited.
| Report Title : | Internship Report on Uttara Bank’s Financial & Foreign Exchange Analysis. |
| University Name : | BRAC University |
| Submitted To : | Ms. Sharmin Shabnam Rahman |
| Submitted By : | Md. Romman Islam |
| Total Page : | 108 |
Overview of Uttara Bank Ltd:
Uttara Bank established on January 8, 1965 as Eastern Banking Corporation, it was created to support the financial needs of the then East Pakistan. Uttara Bank PLC is one of the oldest and most prominent private commercial banks in Bangladesh. Azharul Islam serves as the Chairman, and Mohammed Rabiul Hossain is the Managing Director and CEO. As of September 2024, the bank operates 249 fully online branches and 47 sub-branches across Bangladesh. The bank maintains relationships with 397 foreign correspondents worldwide.
Business Activities of Uttara Bank Ltd:
Uttara Bank Ltd also working for customers satisfaction. Uttara Bank ltd. offers comprehensive suite of financial services of individuals, Business and Institutions. Below is an overview of its key business activities are given:
Deposit Products:
- Uttara Bank Ltd. provides various Deposit Products Banking services, including:
- Savings Accounts: Standard savings accounts with competitive interest rates.
- Current Accounts: Designed for daily transactions without interest.
- Fixed Deposit Receipts (FDR): Term-based deposits offering higher returns.
- Special Deposit Schemes:
- Monthly Deposit Scheme
- Double Benefit Deposit Scheme
- Double Pension Scheme
- Monthly Benefit Scheme (MBS)
- Deposit Pension Scheme
- Special Deposit Pension Scheme (Income Unlimited)
- Foreign Currency Accounts: Including Non-Resident Foreign Currency Deposit (NFCD), Foreign Currency Current Deposit (FCCD), and Resident Foreign Currency Deposit (RFCD) accounts.
Loan & Credit Facilities:
- Personal Loans: For various personal needs.
- Consumer Credit: Financing for household durables.
- Car/Motorcycle Loans: Vehicle financing options.
- Home Loans: Including Uttaran Home Loan and House Finance for Freedom Fighters.
- Education Loans: To support academic pursuits.
- Travel & Marriage Loans: For travel and wedding expenses.
- Doctor’s Loan: Tailored for medical professionals.
- Loan for Foreign Employment: Assisting overseas job seekers.
- Household Durables Loan: For purchasing home appliances.
- House Repairing/Renovation Loan: For home improvements.
- SME Loans:
- Uttaran Small Business Loan (USBL)
- Nari Swanirbor Rin Prokalpo (NSRP)
- Uttaran SME Sector Development Project Loan (USSDPL)
- Working Capital Loans: To support business operations.
- Fixed Term Loans: Short, medium, and long-term financing.
- Lease Finance: For acquiring capital machinery and equipment.
- Agricultural Credit: For farmers and agro-based businesses.
- Green Financing: Funding for environmentally friendly projects.
Digital & Card Services:
- Internet Banking: Access account information, transfer funds, pay bills, and more.
- SMS Banking: Receive account updates via SMS.
- Debit & Credit Cards: For convenient transactions.
- ATM Services: Access cash through a wide network of ATMs.
Treasury & Investment Services:
- Foreign Exchange Services:
- Spot Dealing
- Forward Dealing
- SWAP
- Corporate Deals
- Term Placement
- Money Market Products:
- Call Money
- FDR/Term Money/Treasury Line
- REPO and Reverse REPO
- Fixed Income Business: Active participation as a Primary Dealer in government securities.
- Government Treasury Bills & Bonds: Investment opportunities in various maturities.
International & Remittance Services:
- International Banking: Correspondent relationships with 397 foreign banks and exchange houses.
- Home Remittance Services:
- Express Payment Scheme
- Instant Cash Scheme
- Instant Draft Scheme
- Foreign Currency Accounts: NFCD, FCCD, RFCD, and Non-Resident Investment Taka Account (NRITA).
Capital Market Services:
Uttara Bank Securities Ltd. (UBSL):
- Stock brokerage services through Dhaka Stock Exchange.
- Initial Public Offering (IPO) application processing.
- Non-Resident Investors Taka Account (NITA) facilities.
Financial Statement of Uttara Bank Ltd. of Bangladesh:
Uttata Bank Ltd. has released they are financial statements for the year ending of December 31, 2024. Below is a summary of key financial highlights:
All Annual Reports of Uttara Bank Ltd. Please Click Here… https://www.uttarabank-bd.com/home/annualreports
Objective of the project:
The writing of this report contains two objectives: General objective and Specific objective.
- General Objective: The general objective of this report is to complete the internship program. As per requirement of MBA program of BRAC University, a student need to work in a business organization for three months to acquire practical knowledge about real business operations of a company.
Specific objectives: The specific objectives of this report are to analyze the financial performance as well as foreign exchange activities of Uttara Bank Limited. To complete this report requires the internee to understand the facts that a real organization faces in the practical world. Thus, specific objectives also include relating the theoretical knowledge to the practical field.
Methodology:
The study requires a systematic procedure from selection of the topic to preparation of the final report. To perform the study, the data sources were to be identified and collected, to be classified, analyzed, interpreted and presented in a systematic manner and key points were to be found out. The overall process of methodology has been given as below.
a) Selection of the topic: The topic of the study was assigned by the honorable supervisors. While assigning the topic necessary recommendations and suggestions were provides by my honorable supervisor to make this internship report a well-organized and perfect one.
b) Identifying data sources: Essential data sources, both primary and secondary data source, were identified that would be needed to carry on the study and complete this report. Information collected to furnish this report is both from primary and secondary sources.
Primary Sources of Data:
- Face to face conversation with the respective officers of the banks.
- Practical experience gained by visiting different desks during internship period.
- Face to face conversation with the clients.
- Take Interview.
Secondary Sources of Data:
- Annual Reports of Uttara Bank Limited.
- Different circular issued by the Head Office and Bangladesh Bank
- Relevant papers and different books.
- Official Records of Uttara Bank Limited.
- Official web site of the Uttara Bank Ltd.
- Prior research reports.
Conclusion:
The study provides bank managers with understanding of activities that would improve their bank’s financial performance and foreign exchange operation. Uttara Bank Limited focus on major banking activities that may increase the bank ranking and financial performance position comparing with other banks. Such information assists the management of this bank in creating appropriate financial strategies for attaining the required planned financial performance.
