Virtual Global Knowledge

The banking sector in Pakistan comprises of the following types: State Bank of Pakistan, Commercial Bank of Pakistan; Exchange Banks, Saving Banks, Cooperative Banks, Specialized Credit Institutions. The S.B.P. is the Central Bank if the country and was established on 1st July, 1948.

On November 7th 1959 United Bank Limited appeared on the banking horizon in Pakistan and started operations with its first branch namely McLeod Road now I.I Chundrigar Road at Karachi. Today UBL has 1056 Domestic and 15 Overseas Branches.

UBL was nationalized in 1973 but it is privatized in 2002 as Govt. handed over the management of UBL, the third largest party of the country, to the successful bidder -Consortium of Abu Dhabi Group (UAE) & Best way Holding Limited (UK) as they have purchased 51% shares and have elected H.H.Shaikh Nahayan al Mubarik as Chairman UBL. On May 18th 2004 Mr. Atif Bokhari was appointed as anew CEO of UBL.

Plan of Internship Program:

I started internship at the Ghulam Muhammad Abad branch of UBL which is under the hub of  Bank Square branch the immediate vicinity of the area of Ghulam Muhammadabad because this  is the biggest colony of Asia also there is existence of branches of all most all competitor  commercial banks of in the same bazaar. I started my internship from 14th of November 2011  and ended at 27th of December 2011.

There were 12 Employees in the branch the branch were covering the waste area of commercial.  There is Cash department in which two Cashiers were Working and one supervisor, also one  RBO which deals with the Cash over the counter and Account opening operations, A CSR, very  old and kind employee of the bank and serving the bank for almost 40 years and is very  experienced efficient, deals with the Clearing of cheques and delivering of cheque books and  ATM Cards. A CSOM is operational manager of the branch deals all the operating works  Performed in the branch. I mostly worked with the retail banking department and also works  with CSR, and learned the clearing procedure.


When I entered in the branch I feel shy and hesitated from the environment but when I met with  the manager of the Branch I feel confident because the manager is very kind and courteous, after  words I met all the staff all were very cooperative and kind It Was a Great place  for me to learn all the workings of the branch Specially knowing the retail banking operations.  The big advantage of this branch was that it was not yet converted to the Symbols, it was still  using the system of UNIBANK2000. This means that in UNIBANK system the ATM is  balanced daily manually, also many other works Which are not yet changed to the new symbols system.

To open an account the customer has to meet the manager with an introducer. Individual, Joint, Partnership, Private Limited, Public Limited, Sole proprietorship and Minor accounts are the types of accounts. Different documentation is required for each type of account but the application form is same for all types of accounts. 

In Deposits department actual relationship is started with the bank, that relationship is in the form of deposits or the accounts that are opened in the bank. At UBL, customers can deposit in the form of current, saving, call, term and fixed deposits. Main difference between current and saving is of the profit that is provided only on saving account to the customer.


UBL is not only working for the corporate sector, but it also working for the development of ordinary man by facilitating himself by various program. The UBL is looking forward for the better of low income people especialy. Recently UBL has developed small business schemes. Als ogood rates accounts for ordinary pepole and Businessmen. The UBl Recently issues the Perdais Card, for free foreign remittencce, Also issueing many other WIZ cards for students, House Wives, and children.


The UBL is growing at a rapid rate not only in Pakistan, but also in UAE and sojme european countires. UBL make banking easy and comfortable for an ordinary person. It is the most relaible bank, where you come first.

Conclusion 

The UBL is growing rapidly in the banking sector in Pakistan. It has currently largest Online branches in urban areas , and also developing its structure in rural areas too.. As the technology Advances the UBL also making it self fast and accurate in coming years the UBL is looking for the better infrastructure in banking in Pakistan. As the World is going forward towards technology and advancements, the UBL also going step by step with all the organizations. It has a good banking Structure, and very fast and effective network.iconcluded that it is the good banking for rural customers as well as urban customers, there are need of areas to be established and worked.



My Experience during internship was great and full of learning. I learned A lot from the GMAbad branch.All the Staff members give Great respect and honor, and every person want to teach me whatever he knows. And know when I made my internship, my mind cleared all the duobts which I left during my internship.

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