Letter of TransmittalLetter of Transmittal

21 December 2008

Mujahid MohiuddinCourse InstructorDepartment of Business AdministrationEast West University45 Mohakhali, Dhaka1212

Subject: Submission of term paper.

Dear Sir

Here is the assignment that you have asked us to prepare for our course of Sales Management (MKT-401) on the Banking Industry consists of Premier Bank.

We have done a little survey for this project and did it as per as your instructions. We are en -couraged and enthusiastic by collecting the details for the preparation of this report. Taking the direct assistance of the primary and secondary source, we prepared our project. Undoubt-edly, we have learned a lot and have gained remarkable experience.

We sincerely hope that all our effort will be a success if you go through this paper. We truly appreciate this assignment and should you need any assistance in interpreting, please call on us.

Yours sincerely

Md.Iftkhar Sarwar Md. Saroar Firoj ID # 2004-3-10-111 ID # 2005-1-10-159

Shahida Akther Md. Mazharul Islam ID # 2005-1-10-154 ID # 2005-1-10-111 _____________________ Jahidul Islam Md. Abdus Salam ID # 2005-1-10-150 ID# 2004-3-10- 082

ACKNOWLEDGMENT

First of all we would like to thank Md. Mujahid Mohiuddin; our admirable and

respectable course instructor of Sales marketing (MKT 401). He has helped us a lot by

giving us his precious time and directed us properly through a guideline to clear our

confusion about the report. He also helped us by giving various advices as well. While

making this report, we have got to know many new terms, ideas related with our subject.

We are extremely fortunate to have Md. Mujahid Mohiuddin who has always been

among us with his support and encouragement. We would also like to thank Sir for his

full cooperation through out the semester. We could not prepare this report without his

valuable lecture and advices.

We are also grateful to those who helped us by providing a lot of information and also

our respondents who gave their valuable thought at the time of making report and also

our university computer lab to use internet to bring important information about our

report. May be it would have been impossible to finish the report within the time without

this facilities.

Last but not the least; we are very proud and lucky to have such friendly classmates and

group who helped us a lot whenever and wherever we want to.

Contents

1. Introduction of the Industry…………………………………………… Page:9-12

2. Company Information…………………………………………………..Page:13-26

a. Background……………………………………………………..Page-14

b. Marketing Offer…………………………………………………Page-21

c. Brief description of other marketing mix……………………….Page-25

3. Design of the Sales Force………………………………………………Page-27

a. Objective set by Company……………………………………...Page-28

b. Structure of the Sales Force…………………………………….Page-28

c. Duties and responsibilities of the concerned personnel……… Page-29

d. Minimum qualification required………………………………..Page-29

e. Size of the Sales Force………………………………………….Page-30

f. Strategy followed……………………………………………….Page-30

4. Management of the Sales Force: …………………………………….…Page-31

a. Recruitment and Selection procedure. …………………………Page-31

b. Training…………………………………………………………Page-32

c. Supervision……………………………………………………...Page-32

d. Motivating and compensating………………………………… Page-33

e. Controlling and evaluation of Sales Force. …………………….Page-33

5. Role of salesmanship and sales management in the banking industry… Page-34

6. Market potential, Sales potential, Sales forecast, Quota, Sales budget, etc. Page-35

7. Maintenance of relationship: Internal & External………………………Page-37

EXECUTIVE SUMMARY

There is no denying the fact that banking sector in Bangladesh is continuing to strengthen

its position by expanding its core business activities. The term paper is a comprehensive

study of the Banking Industry of our country. For this purpose we have selected a third-

generation commercial bank of the country that has surpassed many second-generation

and first-generation banks and that is Premier Bank. They believe that building strong re-

lationship with all stakeholders, customers, is crucial for their growth and prosperity.

Technology and competition have made it vital for them to forge stronger bond with cus-

tomers to meet their need at their convenience. They put emphasis on meeting this con-

tinuous challenge of managing relationship. Their significant achievements over the past

years both financial and strategic are solid indications of their strength and potential.

They have effective corporate governance practices and efficient sales force which are es-

sential to achieving and marinating public trust and confidence in the banking sector,

which are critical to the proper functioning of the banking sector and economy as a

whole. Through the report, we try to find out the efficiency and effectiveness of their

sales force and sales management. So far they believe that they are well positioned to be-

come a more important partner with their existing clients, to win more share of new busi-

ness and to achieve their goal of generating positive operating leverage on a consistent

basis. Looking forward, they remain confident that they have the right people and right

strategies in place to maintain their growth and the bank will continue to successfully de-

liver excellent results, meeting their financial and operational objectives as well as the

needs of their customers and their people.

During the analysis we had acquired information by asking the sales managers based on

our questionnaire. The experiences and excitement that we gather was really worth men-

tioning. The overall environment and absolute friendly behavior of them totally drew our

attention and created strive to work in this term paper. Lastly the whole assessment and

research gave us a clear concept about the sales management of those banks and enable

us to prepare a clear and organized review for our project.

INTRODUCTION

BACKGROUND OF THE REPORT

Our course Instructor Mujahid Muhiuddin, Department of Business Administration, East

West University of Dhaka assigned this report to us. This report is a part of the

curriculum of the course "Sales Management" offered to us during the BBA program.

This report is prepared on the Banking Industry of Bangladesh consists of Premier Bank.

OBJECTIVES OF THE REPORT

Sales Management course help us to improve our sales skills. It will be helpful for our

future and our practical life. Our Instructor Mujahid Mohiuddin taught many things,

which helped us to prepare our report. Main goal is product selling skill improvement.

We know theoretical and practical these two things are so different. When we went to the

bank to enquiry, we faced so many problems. The board objective of the term paper is to

design a sales force and sales management issues of the selected bank which is Premier

Bank.

Broad Objective

In a broader sense, we prepared this report to apply the knowledge that we have

gathered from MKT401 course in a practical work.

Specific Objectives

To provide an overview of the banking industry

To identify existing management procedure of the sales efforts of the industry

To identify the benefits & opportunities of a more effective sales force

To provide with suggestions for the improvement & future action

SCOPE OF THE REPORT

The term paper is a comprehensive study of the Banking Industry of our country. Our ad-

mirable Instructor Mujahid Mohiuddin was very helpful to us for preparing this report.

We got many facilities from web site. We are also grateful to our administration as they

provide us with the facility to use computer labs for browsing net. Maybe, it would have

been impossible to finish the report in time if we did not get the facility to using net for

our own purpose.

CONTRIBUTION OF THE REPORT

Commercial Contribution

Our report findings will help different banks in Bangladesh to take proper

decision on designing and managing their sales force which will generate higher profit in

the long run.

METHODOLOGY

To prepare a report we need various kind of information. We also collect company’s

information from different sources. We collect some information from company, some

collect from company’s web site, some collect from retailers. Company’s GM, Manager

and employs are so helpful. With out their help we can’t prepare our report.

The entire report is made on the basis of primary data taken from the books, web

sites and journals.

The secondary data’s were collected by the filed survey and by taking interviews of

the employers of the particular bank’s various branches.

LIMITATION

We had a lot of scope to make this report meaningful but we also had some limitations.

When we searched for websites, there was some important information missing and for

lack of time, we could not collect all the required data related to our report. We are sorry

to say that we couldn’t make our report to our expected standard.

The major limitations of this report are:

We made this survey on sales department of premier bank. We had to face prob-

lem to make understand the sales executives.

We did not get the exact information of some issues because of the bank’s confi-

dentiality.

INTRODUCTION OF THE INDUSTRY

(BANKING)

Banks safeguard money and valuables and provide loans, credit, and payment services,

such as checking accounts, money orders, and cashier’s checks. Banks also may offer

investment and insurance products, which they were once prohibited from selling. As a

variety of models for cooperation and integration among finance industries have

emerged, some of the traditional distinctions between banks, insurance companies, and

securities firms have diminished. In spite of these changes, banks continue to maintain

and perform their primary role—accepting deposits and lending funds from these

deposits.

There are several types of banks, which differ in the number of services they provide and

the clientele they serve. Although some of the differences between these types of banks

have lessened as they begin to expand the range of products and services they offer, there

are still key distinguishing traits. Commercial banks, which dominate this industry, offer

a full range of services for individuals, businesses, and governments. These banks come

in a wide range of sizes, from large global banks to regional and community banks.

Global banks are involved in international lending and foreign currency trading, in

addition to the more typical banking services. Regional banks have numerous branches

and automated teller machine (ATM) locations throughout a multi-state area that provide

banking services to individuals. Banks have become more oriented toward marketing and

sales. As a result, employees need to know about all types of products and services

offered by banks. Community banks are based locally and offer more personal attention,

which many individuals and small businesses prefer. In recent years, online banks—

which provide all services entirely over the Internet—have entered the market, with some

success. However, many traditional banks have also expanded to offer online banking,

and some formerly Internet-only banks are opting to open branches.

Savings banks and savings and loan associations, sometimes called thrift institutions, are

the second largest group of depository institutions. They were first established as

community-based institutions to finance mortgages for people to buy homes and still

cater mostly to the savings and lending needs of individuals.

Credit unions are another kind of depository institution. Most credit unions are formed by

people with a common bond, such as those who work for the same company or belong to

the same labor union or church. Members pool their savings and, when they need money,

they may borrow from the credit union, often at a lower interest rate than that demanded

by other financial institutions.

Federal Reserve banks are Government agencies that perform many financial services for

the Government. Their chief responsibilities are to regulate the banking industry and to

help implement our Nation’s monetary policy so our economy can run more efficiently

by controlling the Nation’s money supply—the total quantity of money in the country,

including cash and bank deposits. For example, during slower periods of economic

activity, the Federal Reserve may purchase government securities from commercial

banks, giving them more money to lend, thus expanding the economy. Federal Reserve

banks also perform a variety of services for other banks. For example, they may make

emergency loans to banks that are short of cash, and clear checks that are drawn and paid

out by different banks.

Interest on loans is the principal source of revenue for most banks, making their various

lending departments critical to their success. The commercial lending department gives

loans to companies to start or expand a business or to purchase inventory and capital

equipment. The consumer lending department handles student loans, credit cards, and

loans for home improvements, debt consolidation, and automobile purchases. Finally, the

mortgage lending department loans money to individuals and businesses to purchase real

estate.

The money to lend comes primarily from deposits in checking and savings accounts,

certificates of deposit, money market accounts, and other deposit accounts that

consumers and businesses set up with the bank. These deposits often earn interest for the

owner, and accounts that offer checking provides an easy method for making payments

safely without using cash. Deposits in many banks are insured by the Federal Deposit

Insurance Corporation, which ensures that depositors will get their money back, up to a

stated limit, if a bank should fail.

Technology is having a major impact on the banking industry. For example, many routine

bank services that once required a teller, such as making a withdrawal or deposit, are now

available through ATMs that allow people to access their accounts 24 hours a day. Also,

direct deposit allows companies and governments to electronically transfer payments into

various accounts. Further, debit cards, which may also use as ATM cards, instantaneously

deduct money from an account when the card is swiped across a machine at a store’s cash

register. Electronic banking by phone or computer allows customers to pay bills and

transfer money from one account to another. Through these channels, bank customers can

also access information such as account balances and statement history. Some banks have

begun offering online account aggregation, which makes available in one place detailed

and up-to date information on a customer’s accounts held at various institutions.

Advancements in technology have also led to improvements in the ways in which banks

process information. Use of check imaging, which allows banks to store photographed

checks on the computer, is one such example that has been implemented by some banks.

Other types of technology have greatly impacted the lending side of banking. For

example, the availability and growing use of credit scoring software allows loans to be

approved in minutes, rather than days, making lending departments more efficient.

Other fundamental changes are occurring in the industry as banks diversify their services

to become more competitive. Many banks now offer their customers financial planning

and asset management services, as well as brokerage and insurance services, often

through a subsidiary or third party. Others are beginning to provide investment banking

services that help companies and governments raise money through the issuance of stocks

and bonds, also usually through a subsidiary. As banks respond to deregulation and as

competition in this sector grows, the nature of the banking industry will continue to

undergo significant change.

COMPANY INFORMATION

(Dutch Bangla Bank)

Company Background:

Dutch-Bangla Bank Limited (the Bank) is a scheduled commercial bank. The Bank was

established under the Bank Companies Act 1991 and incorporated as a public limited

company under the Companies Act 1994 in Bangladesh with the primary objective to

carry on all kinds of banking business in Bangladesh. The Bank is listed with Dhaka

Stock Exchange Limited and Chittagong Stock Exchange Limited.

DBBL- a Bangladesh European private joint venture scheduled commercial bank

commenced formal operation from June 3, 1996. The head office of the Bank is located

at Senakalyan Bhaban (4th floor),195, Motijheel C/A, Dhaka, Bangladesh. The Bank

commenced its banking business with one branch on 4 July 1996.

Current scenario:

Dutch-Bangla Bank Limited has signed a Subordinated Loan agreement of EURO 5.00

million with the Netherlands Finance Development Company (FMO) on 03 December

2007 in a simple ceremony held at the Bank’s Head Office. Mr. Md. Yeasin Ali,

Managing Director of DBBL and W. J. M. Wienk, Director, Mr. A. P. J. de Vette, Senior

Investment Officer of FMO signed the agreement on behalf of the respective

organizations. Among others, Mr. AHM Nazmul Quadir, Additional Managing Director,

Mr. K. S. Tabrez, Deputy Managing Director (Administration), Mr. Ghulam Kabir,

Deputy Managing Director (Operation) and senior executives of DBBL were also present

in the signing ceremony.

Dutch-Bangla Bank Limited has signed the Master Facility Agreement Project “Invest-

ment Promotion & Financing Facility” with implementing agency - Bangladesh Bank on

June12, 2007 at the conference room of Bangladesh Bank Head Office. Mr. Md. Yeasin

Ali, Managing Director of Dutch-Bangla Bank Limited and Mr. Md. Abul Quasem, the

Project Director & Executive Director of Bangladesh Bank signed the agreement on be-

half of the respective organizations. Among others, Deputy Managing Director (Adminis-

tration) Mr. K. S. Tabrez, Deputy Managing Director (Operation) Mr. Ghulam Kabir, Se-

nior Executive Vice President Mr. Muhammed Shahidul Islam of Dutch-Bangla Bank

Limited, Joint Director of Bangladesh Bank Mr. Chowdhury Md. Feroz Bin Alam and

other executives of both the organizations were also present at the signing ceremony.

Citibank, N.A. Bangladesh embarked on a new initiative to provide retail banking ser-

vices of Dutch-Bangla Bank Limited (DBBL) to employees / owners of Citibank corpo-

rate customers in Bangladesh and work together with DBBL for their comprehensive ca-

pacity building and explore further business opportunities together. Muhammad Shahidul

Islam, Senior Executive Vice President and Head of Credit of Dutch-Bangla Bank and

Mahbubur Rahman, Director and Head of Financial Institutions of Citibank N.A.

Bangladesh signed the agreement on behalf of their respective organizations. Md. Yeasin

Ali, Managing Director of DBBL, Mamun Rashid, Managing Director and Citigroup

Country Officer - Bangladesh, A. H. M. Nazmul Quadir, Additional Managing Director

of DBBL, Khondoker Rashed Maqsood, Director and Head of Global Transaction Ser-

vices, Citibank N.A. and other senior officials from both the organizations were present

on this occasion. Citigroup seniors including Lyne¢e Bradley - Vice President, Fixed In-

come, Citigroup Hong Kong and Richard Martin Smyth - Managing Director and Head of

Portfolio Management, Citigroup South Asia also remained present at this occasion.

Dutch-Bangla Bank Limited (DBBL) has signed an agreement with Warid Telecom In-

ternational Limited, the new entrant in cellular phone providers of the country at Bank’s

Head Office on April 10, 2007. Mr. Md. Yeasin Ali, Managing Director, Mr. AHM Naz-

mul Quadir, Additional Managing Director, Mr. K. S. Tabrez, Deputy Managing Director

(Administration), Mr. Ghulam Kabir, Deputy Managing Director (Operation), Mr. Abul

Kashem Md. Shirin, SEVP, & Mr. Muhammad Shahidul Islam, SEVP of Dutch-Bangla

Bank Limited and Mr. Amyn A. Merchant, CFO of Warid Telecom International Limited

and other Senior Executives of both the organizations were also present on the occasion.

DBBL arranged a syndicated term loan facility of Tk. 900.00 million to Dhaka Telephone

Company Limited. Dr. Fakhruddin Ahmed, Managing Director of PKSF was the Chief

Guest in the agreement signing ceremony. The Managing Directors, representatives of

participating banks and the members of the Board of Directors of Dhaka Telephone

Company Ltd. are seen in the picture

Dutch-Bangla Bank Limited (DBBL) signed an agreement for bill collection with mobile

phone operator Teletalk Bangladesh Limited recently. Mr. A. H. M. Nazmul Quadir, Ad-

ditional Managing Director of Dutch-Bangla Bank Limited and Mr. Golam Fakhruddin

A. Chowdhury, General Manager (Finance) of Teletalk Bangladesh Limited signed the

agreement on behalf of their respective organizations. Mr. Abul Kashem Md. Shirin, Se-

nior Executive Vice President and Head of IT Division, Mr. Md. Omar Faruque Bhuiyan,

Executive Vice President and Head of Card Division of DBBL and Mr. Kabir Hasan,

General Manager, Human Resources, Mr. Aminul Hasan, General Manager, External Co-

ordination, Mr. Nazmul Haider, Company Secretary of Telatalk Bangladesh Limited and

other Senior Executives of both the organizations were also present on the occasion.

Dutch-Bangla Bank Limited has signed a Subordinated Loan agreement with the Nether-

lands Finance Development Company (FMO) on 30 November 2006 in a simple cere-

mony held at the Bank's Head Office. Mr. Md. Yeasin Ali, Managing Director of DBBL

and Mr. Arno. P. J. de Vette, Senior Investment Officer and Andre van Werven, Man-

ager, Portfolio Management, Asia Department of FMO signed the agreement on behalf of

the respective organizations. Among others, Karin Bouwmeester, Risk Management Offi-

cer of FMO, Mr. AHM Nazmul Quadir, Additional Managing Director, Mr. Abul

Hashem Khan, Deputy Managing Director (Operation), Mr. K. S. Tabrez, Deputy Man-

aging Director (Administration) and senior executives of DBBL were also present in the

signing ceremony.

Corporate Structure: Board of Directors

Executive Committee

Managing Director and CEO

Consultant

Management set up:

The Board consist of 11 (Eleven) Directors. The members of the Board of Directors of the Bank

hold very respectable positions in the society. They are from highly successful group of Business

and Industries in Bangladesh. Out of 11 members one is from Taiwan. Each member of the

Board of Directors plays a significant role in the socio-economic domain of the country. A list of

the Directors and their shareholding along with associated business is given below:

1) Chairman: Dr. H. B. M. Iqbal

2) Vice-Chairman: Mr. B. H. Haroon

3) Director: Dr, Arifur Rahman, Nurul Amin, Nawrin Iqbal, Mr. Abdus Salam Mur-

shedy, Mr.Shafiqur Rahaman, Mr Lutfor Rahaman, Mr.Yeh Cheng Min, Mrs.

Shaila Shelly Khan, Md. Masud Zaman.

4) Independent Director: Mr. Abu Hanif Khan

5) Managing Director: Mr. Khondker Fazle Rashid

6) Additional MD: Mr.Mokhlesur Rahman

Senior Executives:

Project Director(IT)

  Mr. Ahmad Tabshir Choudhury

Principal(Training Institute)

  Mr. Asoke Bandhu Das

Senior Executive Vice President  Mr. Dewan Anwarul Latif

Mr. Md. Abdul Hai

Mr. A K M Fazlul Hoq

Mr. Khan Shahadat Hossain

Mr. Bijit Kumar Bhattacharjee

Executive Vice President

Mr. Md. Khurshed Alam ChowdhuryMr. Md. Shah AlamMr. Kazi Borhan UddinMr. Qazi Abdur RazzaqueMr. Md. Wahidur RahmanMr. Sahdat HossainMr. N H Akhtar-uj-ZamanMr. Mohammad Wahedur RahmanMr. SM Hemayet UddinMr. Kazi Saiful HoqueMr. Sk. Talibur Rahman Senior Vice President 

Mr. Rafiq AhmedMr. Md. NazimuddinMr. Md. Masudul AlamMr. Shahed SekanderMr. Md. Abul Hasan MiaMr. Shafiuddin AhmedMr. Mohammed Salim ChowdhuryMr. Shamsuddin ChowdhuryMr. Nasir Uddin Sikder

Vice President 

Mr. Golam Mahmud JamilMr. Quazi Mahbub-E-AlamMr. Md. Munibur RahmanMr. Syed Nowsher AliMr. Md. Shariful IslamMr. Ahamed Sufi

First Vice President

Mr. Md. Nur SobhanMr. Md. ShahjahanMr. Md. Hasanul HossainMr. Moinuddin AhmedMr. M H Mawdud HussainMr. Mohammad Zakir HossainMrs. Quamrun Nahar HasmiMr. Md. Shahid Hassan MallikMr. Shiper AhmedMr. Syed Ahasan HabibMr. Zalal Uddin Chowdhury

Assistant Vice President

Mr. Md. Shahid Ullah BhuiyanMr. Mohammad Abdul KarimMr. Pervez RezaMr. Ashraful AzadMr. Md. Mahabub MorshedMr. Md. Anowar HossainMr. Md. Ashraf HossainMr. Mohammad SaifuzzamanMr. Tridib Kumar BaruaMr. Shawkatur RahmanMr. Md. AkhterruzzamanMr. Md. Rafiqul Islam KhanMr. Chowdhury Yousuf HaroonMr. Mohammed Ratan MiahMr. A M Omar KhasruMr. Md. Abdul Baten ChowdhuryMr. Md Mizanur RahmanMr. Atikul Islam Akhand

First Assistant Vice President

Mr. Md. Aminur Rahman ChowdhuryMr. Md. Humayun Kabir TalukderMr. Mohammed Abu HenaMr. S M QuamruzzamanMr. Md. Kamrul IslamMrs. Humayra ChinuMr. Mohammad AnasMr. Md. Taiab Ali KhanMr. Syed Sultan UddinMr. Mohammad Zakir Hossain BhuiyaMr. Md. Rafiqul IslamMr. Muhammad Shawkat AlamMr. Alamgir Kabir Mr. Kazi Abdul Wadood

Mr. M Zahed ChowdhuryMs. Farzana BushraMr. Ezaz WahidMr. Md. Nowshad AliMr.Md. Abdul LatifMr. Md. Aminul HaqueMr. Mohd. Didarul AlamMr. Moshfeque Alam KhanMr. Shamim AktherMr. Md. Mashhurul HaqMr. AKM Ekhlasur RahmanMr. Emdad HaiderMr. S M Masudur RahmanMr. Md. Shafiqul IslamMr. Mohammad Ibrahim HossainMr. Imran SadiqueMr. Md. Wahidul IslamMr. Khaled Afzal RahimMr. Shaikh Mohammed ShoiebMr. Mohammad Abu Kausar

Mission:

To be the most caring and customer friendly provider of financial services, creating opportunities

for more people in more places.

To ensure stability and sound growth whilst enhancing the value of shareholders investments.

To aggressively adopt technology at all levels of operations to improve efficiency and reduce cost

per transaction.

To ensure a high level of transparency and ethical standards in all business transacted by the

Bank.

To provide congenial atmosphere which will attract competent work force who will be proud and

eager to work for the Bank.

To be socially responsible and strive to uplift the quality of life by making effective contribution to

national development.

Vision:

Vision of the Bank The Bank has clear vision towards its ultimate destiny - to be the best amongst the top financial institutions.

Core Objective:

Premier Bank believes in its uncompromising commitment to fulfill its customer needs

and satisfaction and to become their first choice in banking. Taking cue from its pool es-

teemed clientele, Premier Bank intends to pave the way for a new era in banking that up-

holds and epitomizes its vaunted marques "Service first".

MARKETING MIX:

In case service there are 7Ps which make an organizational marketing background. Those

Ps are:

Product & Services

Price

Place

Promotion

Physical evidence

People

Packaging

Product:

Incase of product the Premier Bank Ltd have different kinds of products based on the

situation and the consumers. As it is a service provider it has some physical quo to offer

their products. Those physical quo are in form of card through which a customer can get

different kind of loan and purchasing service.

Those card products are given below:

1) Visa Credit Card

2) Deposits

3) Loan & advances

With out these card products there are many intangible facilities that the Premier Bank

also provides like personal loan, security with interest, information of currency,

transaction in local and foreign area etc.

On the other hand Premier Bank also provide organizational to organizational services.

These services also considered as products. Those services are

Loan

Bill payment

Security

LC

Time to time transaction

Employee’s salaries payment

On line banking

The most resent and burning example of service are given below:

Loan Products :

Project Loan

Working Capital LoanTrade Finance (Domestic & International)House Building Finance (Commercial & Residential)Contractors FinancingReceivable FinancingCash CreditOver DraftPacking Credit Trust ReceiptGuaranteeLetters Of Credit

More details about Rate of Interest Chart of Various LoanProducts

Our Special Credit Schemes:

Lease FinanceConsumer Credit SchemeDoctors Loan Scheme Small & Medium Business Loan SchemeStudent Credit SchemeRural Credit Scheme - Poverty Alleviation Agro Processing Loan Scheme

 

Deposits :

Finally the critical segments of products are given below:

Import Finance

 

Savings AccountCurrent AccountCorporate AccountShort Term Deposit AccountFixed DepositDouble Benefit SchemeMonthly Income SchemeMonthly Savings SchemeEducation Savings Scheme

 

DBBL extends finance to the importers in the form of:

1. Opening of Import L/C

2. Credit against Trust Receipt for retirement of import bills.

3. Short term & medium term loans for installation of imported machineries & pro-

duction thereof.

4. Payment against document

Export Finance

1. Pre-Shipment Finance

Pre-Shipment finance in the form of:

I) Opening of Back-to-Back L/C

II) Export Cash Credit

2. Post-Shipment Finance

Post-Shipment finance in the form of:

I) Foreign/Local Documentary Bills Purchase

II) Export Credit Guarantee

III) Finance against cash incentive

Foreign Remittance

Premier Bank provides premium quality service for repatriation and collection of

remittance with the help of its first class correspondents and trained personnel. By

introducing on-line banking service and becoming a SWIFT Alliance Access Member,

which enable its branches to send and receive payment instruction directly that helps

provide premium services.

Services

Premier Bank provides all the accounts services as prescribed by the guidelines of

Central Bank (Bangladesh Bank). We offer competitive interest rate and provide

premium quality services for the accounts. Account services are:

Premier SMS(SMS Banking Service)

To get the SMS service:

Premier SMS service is totally free for our customers. After registration the password/PIN will be sent to your mobile number. Send SMS using PIN to Mobile No. 01714047799 for Premier SMS.

Just visit any of our branch or download the application form (at the Leaflet Page -2) and get registered providing the following information.

1) Account Name 2) Mobile number 3) A/C number -15 Digits (including branch code and check digit)

Available Services:

Inquiry - Account Balance - Last 3 Transactions - Cheque Leaf Status

Request - Statement to be picked up from branch - Statement through email - Statement by post/courier - Cheque Book request - Stop payment request

 Notifications - Balance Alert (If the balance crosses certain limit) - Transaction Alert  - Spe-cial day message fixed by Premier Bank

Online Banking

Online any Branch BankingWe have set up Wide Area Network using Radio, Fibre-Optics & other available com-munication systems to provide any branch banking to our customers.

Customer of one branch is now able to deposit and withdraw money at any of our branches. All Branches are included in our Wide Area Network.

No TT/DD or cash carrying will be necessary.

 

 

Islamic Banking

In order to serve those Customers who neither Receive or Pay Interest, we have de-cided to open separate branches based on SHARIAH PRINCIPLES. The activities & book keeping will be kept separate from the Conventional Branch Operations.

Islamic Banking service is now available at MOHAKHALI BRANCH and SYLHET BRANCH. These two branches are run under Islamic Shariah Principles. Chairman of Islami Bank Limited, former secretary of Government of Bangladesh and former Deputy Governor of Bangladesh Bank - Mr. Shah Abdul Hannan is also the chairman of Islamic Shariah Council of Premier Bank. The council also consists of renowned Is-lamic scholars like Dr. A.R.M. Ali Haider, Professor of Department of Islamic Studies, University of Dhaka, Moulana Ruhul Amin Khan, Executive Director of the Daily Inqi-lab and others who determine the guiding principles for operation of our Islamic Branches.

Our investment and deposit figure for these two Islamic branches in the year 2003 was Tk. 3,09,87,403/- and tk. 14,03,91,549/-

 Our Other Services :

Safe Custody (Locker)

For safekeeping of customers' valuables like important documents and goods like jewelries and gold or-

naments, Premier Locker Service is available in most of the Branches in urban areas.Nature of Service Nature of Charges Rate of ChargesCustody of Locker / Safe Rent a) Yearly TK.1,500/= for small size locker

b) Yearly TK.2,500/= for medium size lockerc) Yearly TK.3,000/= for big size locker

*Condition apply TK.2500/= for Security Money(Refundable)

Evening Banking Services"Evening Banking", a unique service of The Premier Bank, only for receiving Cash and Docu-ments beyond transaction hours till 8 o'clock in the evening, is available at Premier Bank. The service is attractive for those, like shopkeepers, who accumulate cash as sales proceeds in the afternoon when counters of Bank branches usually remain closed.

Online Branch Banking ServiceONLINE BRANCH BANKING SERVICE is designed to serve its valued clients. Under this sys-tem, you shall be able to do the following type of transactions:

Cash withdrawal from your account at any branch of the Bank. Deposit in your account at any Branch of the Bank. Transfer of money from your account to any other account with any Branch of the Bank.

Transaction Limit Unlimited transaction.

Online Transaction Membership Fee No Membership fee is required.

Charges for Online Transaction No charges for online transaction except inter zonal transactions.

   Travelers Cheque

Travellers Cheque

Under Constrution page...

Upcoming Services:

ATM

Banking SoftwareTele Banking, Internet Banking

SWIFT

Premier Bank Limited is one of the first few Bangladeshi Banks who have become

member of SWIFT (Society for Worldwide Inter-bank Financial Telecommunication) in 2002. 

SWIFT is members owned co-operative, which provides a fast and accurate communication

network for financial transactions such as Letters of Credit, Fund transfer etc. By becoming a

member of SWIFT, the bank has opened up possibilities for uninterrupted connectivity with over

5,700 user institutions in 150 countries around the world.

Price:

In case there some variability in the factors of price. In case of price the variability

depends on the service of the organization. In case of card products the price is given

below:

Premier Bank Visa Credit Card

No joining FeeAuto Debit Payment

Cash Advance FacilityZero Cost LiabilityFree Credit up to 45 daysPhoto Card OptionsWorldwide Acceptance

The Premier Bank offers lowest fee and interest rate in the market for everyone.

It's Everywhere you want to be..

You can rely on The Premier Bank VISA Card and practical support 24 hours a day worldwide. Leaving you free to enjoy shopping, traveling and much more..

Fees and Charges

  CLASSIC GOLDAnnual Fee    Local Tk. 1,000 Tk. 1,800International USD 40 USD 80Supplementary Card Fee    Local Free FreeReplacement Card Fee    Local Tk. 300 Tk. 500International USD 15 USD 15Late Payment fee    Local Tk. 200 Tk. 300International USD 10 USD 10

Cheque Return Fee    Local Tk. 250 Tk. 350International USD 10 USD 10Statement Retrieval Fee    Local Tk. 50 Tk. 50International USD 5 USD 5Charge Slip Retrieval Fee    Local Tk. 200 Tk. 250International USD 10 USD 10Outstation Cheque Collection Fee    Local Tk. 100 Tk. 100International USD 15 USD 15PIN Replacement Fee    Local Tk. 500 Tk. 500International USD 10 USD 10Excess Limit Fee    Local Tk. 200 Tk. 300International USD 10 USD 15Cash Advance Fee    Local 2% or TK. 150(higher) International 3% of withdrawal amnt.Interest Charge(Per Month)    Local 2.5% 2.5%International 2.5% 2.5%

Place:

At present Premier Bank have 27 branches and 8 proposed branches. There are different

places in different country. They have brunches in Agrabad(ctj),Ashugonj,Dhaka branch(

Banani, bangsal, Dhanmondi, Dilkusha, Elephant road, Gukshan, Imamgonj Joydebpur

Kawran bazaar kakrail Mohakhali, Motijheel, Savar, Uttara ,Tongi ), Khayungonj(ctj)

Khulna ,Barisal branch, Kishoregonj, Khulna , Moulvi Bazar(Sylhet), Narayangonj

Branch.

They have 228 offices including the ATM booth among these locations.

Promotion:

The promotions of Premier Bank are based on the corporate social responsibilities (CSR).

They use different marketing communication tools for promotion the consumers. On the

other hand they do some time the personal marketing in case of promoting the

organizational to organizational promotions. They use the TVC ads, printed ads, bill

boards, personal communication and specially the CSR.

Some CSR promotions are given below:

.

Activities of premier Bank1) Launching of real time online banking in all branches of Premier Bank2) Launching of Corporate web site3) Launching of Dealing Room for foreign Currency and Money Market Dealing4) Launching of separate Leasing Division5) Launching of Islamic Banking in Mohakhali (Dhaka) and Sylhet branch6) Launching of Doctor's Loan Scheme for Medical Practitioners and Doctors7) Participated in First "Medexpo" trade fair of Medical equipment and services in Bangladesh8) Inauguration of Premier Bank's own Training Institute9) Inauguration of 5 (five) more branches around the country10) Obtained Principal Membership License from VISA International for VISA Credit

Card

Sponsored TVS Cup (A Triangular Series of Cricket Match between India, South Africa and Bangladesh) and Nitol-Tata National Football League 2003-2004

People

They are the employees of the bank.

Packaging

The way of service delivery should be given. How different service is offered to the

customers.

DESIGN OF THE SALES FORCE

Objective set by the department:

There is a specific sales department in Premier Bank which deals with different sales

related issues of the bank.

The following particular objectives which are set by the department—

Marketing of the products through services.

Attracting benefits on the products.

Approaching, presenting, answering, answering objectives and closing sales.

Providing various services to the customers like-consulting on problems, technical

assistance, expanding delivery etc.

Prospecting: The sales force should search for prospects of different offers which are

different market segments. Market segmentation can be done based on culture, value,

religion, income etc.

Targeting: Sales force will allocate their time among prospects and customers based on

priority of the potentiality of purchasing the sales offer or previous transaction pattern.

Communicating: Sales force should successfully communicate with the prospects and

customers and time to time provide them up dated information about the company

services.

Selling: They need to approach the prospect, make a presentation about the products, and

answer all the objectives with an ultimate target of selling the product and successfully

closing the sales.

Servicing: To maintain a good relationship with the customers and ensure future sales,

sales force should consult with them time to time and help them with their problems.

Structure of sales force:

Sales force structure depends basically on the company sales objective, resources,

condition of the market and economy. As all the services provided by a company follows

some basic structure and rules, a sales person can easily gain knowledge about the

services. To cover the whole country companies need large sales force which is easy to

maintain on a territorial basis.

Since it is a banking service, the company is producing too many services and the

customer varied in nature. This is why Premier Bank formulates the sales force based on

the product/service. On the other hand it has 35 branches over Bangladesh and that’s why

it also has the territorial based sales force structure.

Duties and responsibilities of the concerned people:

Duties and responsibilities are allocated to the concerned people based on following

issues---

Usually they do variation to select people for different job. Different people are

set for different case over time. Jobs are allocated basically on group basis, some-

times-Individual basis.

A subordinate has to make report to divisional head and divisional head to the

management within specific period of time.

As per planning’s on case-to-case basis, people coordinates with each other.

Group basis evaluation done by the division and divisional sales force’s evolution

is done by management level.

Decision takes according to the need of the bank, sometimes downstream as deci-

sion and sometimes up-stream as suggestion.

Sometimes based on the market scenario, top level managers make decision.

Main responsibility of the sales force is to accomplish the sales force objectives. To do so

they need to perform following duties:

They identify the prospect

They perform per-approach activities and then approach the prospect

They find out the facts about buying the product

They defend various objections of the clients and provide them solutions in times

of presentation.

Time to time they meet the customers for follow-up and provides them informa-

tion about the new products and benefits.

Sometimes they may collect information about the customers which will help the

company for better decision making.

Minimum qualification required of sales force:

No employee is appointed particularly or solely as member of sales force. Recruitment

should be made as per general recruitment of the bank.

Since it is a banking service and it needs different people for different jobs so, the

qualifications of an employee of sales force should be published when the vacancy for

job is circulated. But sales people has to have the following ability to

Make people a key priority

Win customers for life

Use the total management approach to run the business

Profitable grow by being the leader in customer –led application of technology.

Rapidly & profitably globalize

Be the best service supplier.

Size of the sales force:

All the banks in Bangladesh are serving the whole country. They have specially designed

offers for rural and urban customers. The calculation should be generally by “workload

method”.

Strategy:

Premier Bank follows basically team selling (sometimes) and outside and inside sales

force strategy. Since it is a Bank, sales strategy should be formulated basing basically on

the:

Economic scenario of the country

Growth rate of national savings

Inflation

Investment trend

Banks liquidity

Asset position

Forecasted market condition on the above joints

Market oriented result is also given priority.

MANAGEMENT OF THE SALES FORCE

Recruitment and selection procedure:

Personnel selection is a process of measurement, decision-making & evaluation. The goal

of a personnel selection system is to bring into an organization individual who will

perform well on the job. To recruit and select best candidate for the sales force of

banking industry is very important. The personnel should be highly skilled to. The most

effective way of selecting the right candidate is through job analysis. Premier Bank may

obtain information about the selling jobs with the help of job analysis. They should

identify the kind of manpower needed to perform the jobs and make plan for the existing

and future manpower. In this plan they will specifically define job description Duty and

responsibility of insurance agents) and job specification (qualification, knowledge, skills

and experience required to perform the job) for the sales force with qualitative

description and quantitative measures. According to the standard of job analysis they will

recruit people and then select them through various screening process

Standard process of selection (Premier Bank) should be:

Application → preliminary interview (face to face/written) → application blank (personal

information) → employee test→ interview → questioning of previous history → waiting

list → final selection → medical exam → get job.

Training:A process whereby people acquire capabilities to aid in the achievement of organizational

goals and the process of teaching new employees the basic skills they need to perform

their job. There is no alternative to rise up in life without education and Training. Educa-

tional qualification is an indispensable part of a person engaged in any profession. One

must have sufficient knowledge on the works he has to do. It accelerates his prosperity if

he deserves his ability through achieving proper education and training.

In Premier Bank Training should be given through workshop, training courses both in-

house and outsourcing and on-the job.

On-the –job Training- It is conducted at the work site. The training shows the

employee how to perform the job and allows him to do it under the trainer’s su-

pervision.

Supervision:Supervision is done to observe the accuracy of performing the duties and responsibilities

of the sales force. In times of training sales force in supervised to learn the whole thing

perfectly and increase their skills. Supervision is also done to identify the personnel who

need further training and also the best performers.

In case of Premier Bank, after training session, supervision/ monitoring activities should

be done by the on-going process of allocated job and its output/outcome/feedback from

the market etc. After the training they should be supervised by superior personnel to

monitor if they have changed their way of doing jobs and performing better.

Motivation and compensating:The motivation and compensation philosophy of Premier Bank is “Banking profession is

a career job that highly demands sales and marketing skills at all levels and desks.

Successful person take the lead of per group in promotion, letter working table and

places.”

Mercantile Bank follows two main components of compensation system—

Direct financial payments

Indirect payment

And they give priority on seniority, merit and skill of employees.

Sales force of banking industry performs a stressful job with a large target of sale. So it is

important to motivate them time to time. But as the sales force is very large it is not an

easy task to motivate them all. To motivate the sales force Premier Bank can take the

following steps:

Monetary factors: They can provide monetary reward to the agents.

Recognition: They can give recognition to the best agents.

Reward: They can give some other rewards than money.

Work environment: It is not easy to provide good working environment to the

field agents. Still they can assign their agents to the prospects with whom they

would feel comfortable with.

Work itself: They can make the work more interesting by reducing paper work

and using colorful materials.

The most appropriate structure would be-

Fixed amount (salary) +Variable amount (bonus, commission) +Expense allowance

(traveling, lodging, dining) +benefits (sickness allowance, insurance)

Controlling and evaluation of sales force:

The divisional head of the company does evaluation of the employee. For the whole

Organization, the following people contribute in evaluation process—

The immediate supervisor

Peer appraisal

Rating committees

Self ratings

Appraisal by subordinates

For this reason they basically follow 360-degree feedback method where ratings are

collected from supervisors, subordinates, peers, internal-external customer.

It may divide its activities on the basis of Division, Zone, Branch, Region, District, and

Thana to have better control and evaluation of the sales force.

Role of salesmanship and sales management:

The success of any team depends on the total teamwork. A marketing officer shall serve

as the primary relationship contact with the Bank’s corporate and commercial customers.

He will keep contact with the investment clients, Guarantors, collect information, assess

client’ position and process the proposals for approval of competent authority. The major

responsibilities will be:

To act as the primary bank contact with the consumers and grow the consumer

base through marketing effort.

Marketing officer shall scrutinize the investment application from and other doc-

uments submitted by the customers and make preliminary assessment.

Marketing Officer will collect further necessary information to make the pro-

posal complete.

To carry out investment analysis, assess investment of the customer, structure

investment facilities and identify potential investment risk, mitigation factors.

To coordinate with investment that includes documentation officer, disburse-

ment officer, custodian officer, monitoring officer, compliance officer and re-

covery officer.

To study market and competitive position on an on going process.

Maintenance of relationship --- internal and external: Primarily, through centrally concerned meetings will be called twice a month.

Then comes the need based consultation between the other divisions with sales di-

vision.

Innovation of products, their approval and planning of sales will be concerned on

those meetings.

More importantly, through interpersonal interaction relation should be main-

tained.

Internal RelationshipFollowing steps may be taken for implementation for maintaining relationship

effectively:

A strong internal control & compliance division should be formed with a view to establish compliance culture and full control.

Regular review of internal and external (including Bangladesh Bank) audit reports with a view to implement the suggestion of internal and external auditors (including Bangladesh Bank), in respect of internal control tech-niques.

To establish an effective management system that includes planning, orga-nizing and supervising culture in the branches as well as at head office.

Continuous monitoring and evaluation on application of internal control system, internal audit policy, policy for financial risks, existing rules and

regulations (internal and external), other obligations from controlling au-thority, disclosure process of the bank.

Review the accounting procedures with the view to ascertain that Interna-tional Financing Reporting Standards (IFRSs) have been applied in prepa-ration and presentation of financial statements.

Formulation of HRM policy and other operating procedures.

External RelationshipRelationship with the Auditors

The Board should establish transparent and appropriate relationships with its external au-

ditors through the Audit Committee. The external auditors may have an obligation to

bring any significant lapses/irregularities in the Bank’s system of internal control and

compliance to the attention of management, Audit Committee and the Board.

Relationship with the Shareholders and Investors

The Board recognizes the importance of timely and proper dissemination of information

with regard to the Bank’s performance and other issues affecting the interests to the

shareholders, investors and the general public.

One of the most important means of communication to the Shareholders is through the

Annual Report, which contains comprehensive and sufficient details about the financial

results, performance and other important activities of the Bank.

The Annual General Meeting (AGM) is the principal forum in which Shareholders are in-

formed of the total affairs and current development of the Bank. Shareholders are invited

to ask questions during the question and answer session prior to the motion moved for ap-

proval of a particular resolution. In addition, the Bank from time to time should make

various announcements on price sensitive information and other disclosures through

Newspaper, website and media to the Shareholders, Securities and Exchange Commis-

sion (SEC), Stock Exchanges and general public so that the Shareholders and general

public will have reasonable access to the material information about the Bank.

Sales forecasting:

Sales forecasting method should be based on

Economic trend of the past 2/3 years of the country

Global trend of past 2/3 year affecting country trend

Prevailing or existing rates on various products on going market demand

Cost of rates and products etc.

Market potential:

Market potential (maximum possible sales opportunities present in a particular market

segment for the whole banking industry)

----------------Through out the entire country.

Sales potential:

Sales potential (maximum possible sales opportunities present in a particular market

segment for the bank)

Branch location places and beyond.

Sales budget:There should be a specific sales budget for the sales department. The budget should be

based on the situation and objective of the company.

CONCLUSION

Sales force plays a very critical part in such competitive business like banking, because

for banking industry which is very much competitive in today’s business world, the only

way of attracting customers is continuous communication. To make the communication

effective, sales force of insurance industry has robe designed and managed very carefully.

It is far from certain that the attempt to improve the efficiency of the banking system has

improved as a result of a decade of externally imposed financial sector reforms. Banks

should not only give them a sense of security that their funds are not misappropriated but

that they use these funds both efficiently and justly. Efficiency here means that funds

should go to those who service their loans and use credit productively to provide good

and services. Justice means that credit is available to all classes of the population, who

are now already inducted into the formal banking system. Provided that this wider

constituency of bank clients establish their credit worthiness and demonstrate the

productive use of their loans, they should enjoy democratic access to bank loans.

We all knew the role of banking industry in our lives. But we may have never noticed the

people between us and the banks before working on this report. These people are the

sales force of banking industry and make the bridge between customers and companies

with their knowledge, skills and ability. Without of their effort banks could not be

succeeding to attract the customers and the customers could not get their services. So, to

make a win- win situation between these two parties, the sales force of insurance industry

has to be well designed and managed properly, which is not easy at all.

BIBLIOGRAPHY

http://www.cpd-bangladesh.org

www.google.com

www.bangladeshbank.org

www.primier bank.com.org