Monday, December 5, 2011
Internship Report on Bank Alfalah (BAL)Approved
Brief History of Organization
Pakistan did not inherit a well established banking structure on independence, mainly because of restricted participation by Muslims in this sector. Before independence, the financial sector was in the hands of foreign banks and some of them were British by origin. The oldest bank operating from 1883 in this part of the world was the Chartered Bank while another bank namely the Grindlays Bank which was also working simultaneously from 1883. The only bank that was being operated by Muslims in sub-continent was the Habib Bank, which was established in 1941.
• Credit facility to the customers by the bank to meet their revenue shortfalls and for other purposes.
• Agency services including clearing of cheques, making payments, buying and selling, etc.
• Drafts, Telephonic Transfers, Pay Order services, Different types of accounts and Stop payments facilities
Pakistan did not inherit a well established banking structure on independence, mainly because of restricted participation by Muslims in this sector. Before independence, the financial sector was in the hands of foreign banks and some of them were British by origin. The oldest bank operating from 1883 in this part of the world was the Chartered Bank while another bank namely the Grindlays Bank which was also working simultaneously from 1883. The only bank that was being operated by Muslims in sub-continent was the Habib Bank, which was established in 1941.
After independence, Quad-e-Azam, Muhammad Ali Jinnah turned his attention towards this sector and urged the establishment of a central bank, and, his wish was materialized on July 1st, 1948. With the continuous concerted efforts from private and public sector, this segment of the economy started taking steps towards maturity.
Bank of Credit & Commerce International (BCCI) was a Pakistan based bank, established by Mr. Agha Hassan Abdi from UBL, in association with U.A.E and Europe . BCCI had its branches in 74 different countries of the world. It had its 3 branches in Pakistan
Then, its 3 Pakistani branches were tak n over by the Government of Pakistan, which were named as Habib Credit and Exchange Bank (HCEB) and these were working as subsidiary of Habib Bank Limited.
Nature of the Organization
This organization is basically extending Banking services to the society which includes all those services that come under the head of Banking. Its shares are listed on Karachi and Lahore stock exchanges. Bank Alfalah has two subsidiaries, namely Alfalah Securities (Private) Limited (76%) and Alfalah GHP Investment Management Limited (56%). Also, the bank has two associated companies, namely Warid Telecom (Private) Limited and Alfalah GHP Value Fund. The Overview hereunder, however, is that of Bank Alfalah alone, without consolidation with its subsidiaries. Following services are extended by Bank Alfalah:
• Underwriting of loans raised by the government or public bodies and trading by corporations.
• Credit facility to the customers by the bank to meet their revenue shortfalls and for other purposes.
• Agency services including clearing of cheques, making payments, buying and selling, etc.
• Drafts, Telephonic Transfers, Pay Order services, Different types of accounts and Stop payments facilities
Business Volume of Bank Alfalah
Bank Alafalah, (having BAFL as Ticker symbol) with a network of 321 branches (Conventional: 261; Islamic 60), is listed on all the bourses of the country. The bank has a diverse lending portfolio. Abu Dhabi Group (ADG), comprising some of the prominent members of the UAE’s ruling family, leading businessmen of the UAE and their associates, owns the majority shareholding in the bank since its privatization in 1997. The bank has investments in the communication sector and other segments of financial sector – brokerage, asset management and insurance.
Bank Alafalah, (having BAFL as Ticker symbol) with a network of 321 branches (Conventional: 261; Islamic 60), is listed on all the bourses of the country. The bank has a diverse lending portfolio. Abu Dhabi Group (ADG), comprising some of the prominent members of the UAE’s ruling family, leading businessmen of the UAE and their associates, owns the majority shareholding in the bank since its privatization in 1997. The bank has investments in the communication sector and other segments of financial sector – brokerage, asset management and insurance.
The bank had a sales volume of PKR 36,527,263,000 for the financial year 2008 with Market Capitalization of PKR 17,795,371,597 and 1,349,156,300 numbers of outstanding shares as on year ending Jan 2009. Bank Alfalah has expanded its branch network and deposit base, along with making profitable advances and increasing the range of products and services. Bank Alfalah is the 5th largest bank of Pakistan in terms of its assets that are 6% of the total banking sector assets. The banking sector has expanded rapidly in Pakistan along with the fast paced economic growth. The increased competition in the banking sector has encouraged the Banks to come up with services that could satisfy the needs of a large consumer base. The result has been increased profitability of all banks.
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- MKTI619 Internship Report-Marketing
- HRMI Internship report-Human resources Management
- MGTI619 Internship Report-Management
- FIN619 Internship Report-Finance
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Author: Mohammad
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