INTERNSHIP REPORT

2022

INTERN’S NAME: HUMERA TARIQ

INTERNSHIP TENURE: FROM JULY 18, 2022 TO AUGUST 26, 2022

BRANCH NAME: KARIM BLOCK, ALLAMA IQBAL TOWN

 ACKNOWLEDGMENT

First of all, all the praises and thanks to Allah Almighty for His

countless blessings towards the completion of my research work.

I want to thanks my family and friends who helped me throughout

the completion of my internship, without their support I can never

be able to complete my thesis in such an efficient manner.

 TABLE OF CONTENTS

SERIAL SUBJECTS
NO
Summary
1 Introduction
2 History and Background
3 Vision and Mission
4 Management system
5 Organizational chart
6 Management Hierarchy
7 Managerial policies
8 Types of products
9 Bank free services
10 Internet Banking and Mobile Banking
11 Branch description
a) Cash Department
b) Customer Services Department
c) Clearing Department
d) Account Opening Department
12 SWOT Analysis
13 Recommendations
14 Conclusion
SUMMARY
 I have done my internship in Summit Bank. The main purpose of internship
was to learn by working in a practical environment and to apply the knowledge
acquired during the studies. There were four departments, named as;
 Remittance Department, Clearing Department, Account opening Department
and Cash Department.
 I had worked with all the departments except the Cash department because
internees have not access to the cash department however, I acquired all the
knowledge relative to their tasks, from Cash officers.
 I had worked in Remittance, where I filled the pay order, online transfer,
demand draft (DD), term deposit receipts (TDR) and call deposit receipts
forms.
 In Clearing, I did all the types of clearing named as Inward clearing, outward
clearing and intercity clearing.
 In Account opening Department, I filled the account opening forms for new
customers and completed all the documentation necessary for opening
account such as KYC, CDD, EDD, visit report, FATCA, and collect the source
of income slip and CNIC from the customer.
 My daily activities at bank were, I prepared the dispatch letters for expired
CNIC, dormant accounts. I maintained the dispatch register. I did the manual
entries in the registers of Clearing, ATM issuance, Cheque book issuance and
in Pension issuance file. I issued the cheque books, pensions, ATM cards.
 I received the cheques, deposit slips and filled the deposit slips, cheques,
ATM card form by direct customer dealing and check all the required
stamping and signatures of the officers.
 I successfully completed the entire tasks that were assigned to me. During the
six-week time period of my internship I learned about different things that how
the Branch Manager deals with the customers and Staff. I learned that what
kinds of documents are required for different kinds of financing activities or
opening new account etc.
 I have done my best I hope to ALLAH that this report will provide a complete
and clear image of Summit Bank.
INTRODUCTION:
Banking sector in Pakistan evolved with Pakistan's independence in 1947. At the
time of partition, there were 45 scheduled banks operating in Pakistan with branches
both in India, East and West Pakistan. Foreign banks had limited presence. Many of
the banks during pre-partition era had their head offices in India hence made a
decision to move their assets to India after partition, which was a major setback for
Pakistan. Of the banks who left the country, only Habib Bank and Australia Bank run
by Muslims moved to Pakistan. Since there was no Central Bank in the country, it
was decided that Reserve Bank of India, central bank would function as the central
bank for Pakistan until September 30, 1948.

This is where Pakistan faced its toughest challenge since human resource was
unavailable. On fast-track basis, government passed order to promulgate Central
Bank, resulting in setting up of State Bank of Pakistan on July 1, 1948. Thereafter,
Pakistan released currency notes. National Bank Limited was set-up in November
1949 with the purpose of promoting banking in Pakistan and support State Bank on
recommendation on the financial sector. Banking Companies Control Act was
passed in 1948, which defined the role that State Bank would play. As demand for
funds increased so did bank advances and new institutions with branch expansion.

HISTORY AND BACKGROUND

In October 2007, Arif Habib Securities Limited under the Scheme of Amalgamation
set by the State Bank of Pakistan acquired the Pakistan Operations of Rupali Bank
Limited; hence forming Arif Habib Bank. In 31st March 2010, Suroor Investments
Ltd, a Mauritius based investment firm, acquired 59.41% stake in Arif Habib Bank Ltd
from Arif Habib Securities Ltd, and on the 18th of August 2010, Arif Habib Bank Ltd
was rebranded as Summit Bank Ltd.

Summit Banks parent company, Suroor Investments Ltd, later acquired majority
shares of My Bank Ltd and Atlas Bank Ltd in Pakistan. The operations of the later
mentioned banks were then merged under the single umbrella of Summit Bank Ltd,
thus expanding the Bank’s network to more than 193 Branches.
Aspiring to become the bank of preferred choice, Summit Bank has decided to
convert itself into a full fledge Islamic Bank. We are guided by an eminent board of
Shariah scholars and practitioners with extensive experience in the field and
Alhamdulillah our 48 branches distributed in 23 cities, are now offering Islamic
banking opportunities with an extensive range of Products & Services.

Our Motto “Committed to you” underscores the commitment the bank aims to fulfill to
its customer.

VISION AND MISSION

Summit Bank prides itself on being the bank that its customers can trust and rely on
for the best banking and financial services in the market.

Vision:

 To be the preferred provider of financial products & services to the markets.

Mission:

 To be a financial institution based on trust, integrity, and good governance.

 To deliver financial solutions to our customers.
 To provide equal opportunities & a professional working environment to our
employees.
 To provide fair returns to our shareholders on their investment.
 To serve the community at large.
 To discharge corporate social responsibility
 MANAGEMENT SYSTEM

ORGANIZATIONAL CHART
 MANAGEMENT HIERARCHY

HIERARCHICAL VIEW OF SUMMIT BANK KARIM BLOCK ALLAMA IQBAL

TOWN BRANCH

Total number of employees in SMBL Karim block branch where I did my internship is
9 excluding non-clerical staff. The branch was headed by Branch manager Tassadaq
Siddique. The flow of responsibilities and designations are shown in management’s
hierarchy.

MANAGERIAL POLICY

The Management of “SUMMIT BANK” acknowledges its responsibility for

establishing and maintaining an adequate and effective system of internal control to
provide reasonable assurance to achieve the following:
 Efficiency and effectiveness of the operations
 Reliability of financial reporting;
 Compliance with applicable laws and regulations.
 SUMMIT BANK PRODUCT TYPES

DEPSIT PRODUCTS

 Current Account
 Savings Account
 Term Deposit
 Daily Product Account
 Senior Citizen Account
 Hamara Family Account
 Young Bee Account
 Summit Asaan Savings Account
 Current Asaan Account
 Advantage Account

Current Account
Summit Bank Current Account is a convenient and secure way of holding your
money in local and foreign currencies.

Saving Account
Summit Bank’s Savings Account is the most convenient way to manage your savings
in local and foreign currencies. Our Savings Account has been designed to provide
you with easy access to your money, as well as a higher rate of profit.

Term Deposit Receipt (TDR)

A deposit held at a financial institution that has a fixed term. These are generally
short-term with maturities ranging anywhere from a month to few years. When a term
deposit is purchased, the lender (the customer) understands that the money can only
be withdrawn after the term has ended or by giving a predetermined number of days’
notice.

Daily Product Account

Take advantage of our Daily Product Account, which is q unique account where your
money begins earning interest as soon as you make a deposit. Interest is calculated
on your daily closing balance and credited to your account monthly. It’s a simple way
to start growing your savings right away. The minimum amount required to open this
account is Rs. 25,000.

Senior Citizen Account

Summit Senior Citizen Account designed for Senior Citizens (60 years and above) to
empower Senior Citizen to open and operate the Bank account transactions with
highest level of services provided by the Bank to their fullest satisfaction with healthy
return. Summit Senior Citizen Account comes along with a wide range of free
services and benefits in addition to attractive profit rate.

Hamara Family Account

Fostering the bond that exists with its customers, and to better serve their financial
needs, Summit Bank has come up with ‘Hamara Family Savings Account’ – a unique
savings account offering superior returns and a host of free services.

As a trendsetter, Summit Bank brings a solution to assure parents of their

commitment to their children. With more values, more expertise and more solutions,
Summit Bank innovates a savings account that serves the entire family. Get your
entire family to bank with Summit Bank, and enjoy vast privileges and unique
benefits that go hand in hand with Summit Innovations.

Young Bee Account

The Young Bee Account is a magical world of saving with many adventures awaiting
your young ones. Teach them the importance of saving from a young age, while also
keeping them safe and protected with the Young Bee Debit Card, which can be used
in place of cash wherever they go. The Young Bee Account is full of fun and easy to
open. Simply visit any Summit Bank branch and ask the bank officer to fill out a
Young Bee Account opening form.

Summit Asaan Savings Account

Summit Asaan Account makes banking easy and accessible for everyone. All you
need is your CNIC to start availing the benefits of Asaan Savings Account with its
unique features of hassle free banking.

Current Asaan Account

Summit Asaan Account makes banking easy and accessible for everyone. All you
need is your CNIC to start availing the benefits of Asaan Current or Asaan Savings
Account with its unique features of hassle free banking.

Advantage Account
As an innovative Investment Product, Summit Bank offers Summit Advantage
Account to ensure Convenient and Profitable Financing. Whilst delivering
Exceptional Returns on your Investment, Summit Bank also provides the opportunity
to avail up to 70% Loan Financing, Free from any additional mark up.

This unique offer is for those who want to conserve their savings but still want to
avail a hassle-free financing facility to manage periodic cash flow needs.

BANK FREE SERVICES FOR THEIR CUSTOMERS

 Free Utility Bills payments via ATM, SMS, Web Banking, Contact Center, and
SMBL Branches.
 Free Fund Transfer with in Summit Bank via ATM, Web, and Branches
Network.
 Free Visa Debit Expired Card Replacement.
 Free Personal Accidental Insurance Charges.
 Unlimited free of cost transaction facility over the counter, on Summit Bank
ATM’s.
 Outward clearing cheques return unpaid charges – free
 Free E – Statement of Accounts.
 Free ATM Cash Withdrawal facilities.
 Account Closing Charges – Free
 Locker Insurance Charges – Free up to the prescribed limits of each locker
size.
 Free home remittance payments i.e. Western Union
 Free insurance of Pay Order, Demand Draft, Call Deposit Receipt & Rupee
Travelers cheques.
 INTERNET BANKING AND MOBILE BANKING OF SUMMIT BANK

INTERNET BANKING

Summit Bank presents new age Internet Banking service tailored for you to take
advantage of the Omni channel experience with secure, fast and convenient range of
services which will change the way you bank today.
Internet Banking ensures that you have convenient access to your account and
banking services, no matter where you are.

Features of Internet Banking

 Frictionless Registration (Through Debit Card, Account & Mobile Number)
 Account Summary
 Dashboard (Graphical representation of accounts summary)
 Debit Card Summary
 Debit Card request (Re-issuance)
 Debit Card Order
 Card Activation & De-activation
 Template saving for making repetitive financial transactions (Like Funds
transfer & Utility Bill Payments)
 Transaction Limit Details
 Statement of Account
 Mini-Statement
 Add and Manage Beneficiary & Billing consumer number
 Scheduled Payments & Reminders (like Standing Instructions)
 Fund Transfer
 Interbank Fund Transfer
 Cheque Book Request
  Stop Cheque
 Cheque Inquiries
 Account Statement Request (On Demand – for last one year)
 Payment of credit card bills
 Utility Bill Payments
 School, Collage & Universities Fee Payment
 Payments of Credit Card Bills
 Insurance Payments (EFU, GLI)
 Distributor Payment (Engro Fertilizer)
 Investment Fund (MCB Arif Habib, Askari, Al Meezan)
 Invoice Payments (All 1Bill member Corporates)
 Statements
 SECP Payment
 Tax Payment (FBR, SRB, etc.)
 Ecommerce Payments
 KMC Payments
 CDC Payments
 TCS Payments
 Mobile Recharge & Ufone Super Card Purchase
 Internet Service Provider Payment (Wi-tribe, Qubee, Naya tell)
 Zakat & donations

SUMMIT MOBILE

Introducing Summit Bank’s mobile app, ‘Summit Mobile’

Now your bank is in your hands!

Summit Bank is excited to announce the launch of its most awaited mobile app,
which is available for download on Play Store and App Store.

Now all our customers can enjoy banking with us through their mobile, whenever and
wherever they want. This app is fast and easy to use. All you have to do is log in and
perform any banking transaction just in minutes. No long queues, no paper work.

App Features:
 Fingerprint login & quick login through 4 digit login PIN
 Transfer money
 Cash Withdrawal
 SECP Payment
 IBFT & Fund Transfer
 Utility Bill Payments
 Pay utility and online shopping bills
 Schedule payments & set payment reminders
 Locate nearby ATMs & branches on the map
 Receive offer & discounts alerts
 KMC Payments
 CDC Payments
 TCS Payments
 Internet Service Provider Payment (Wi-tribe, Qubee, Naya tell)
 Mobile Recharge & Ufone Super Card Purchase
 Card Activation & De-activation
 Tax Payment (FBR, SRB, etc.)
 School Fee Payments
 Credit Card Payments
 Insurance Payments (EFU, GLI)
 Distributor Payment (Engro Fertilizer)
 Investment Fund (MCB Arif Habib, Askari, Al Meezan)
 Invoice Payments (All 1Bill member Corporates)
 Stop Cheque
 Cheque Inquiries
 Statements
 Debit Card Order
 Ecommerce Payments
 TRAINING PROGRAM

ACTIVITIES OF INTERNS

Some banks may offer internship roles in multiple departments allowing interns to
gain exposure to various facets of banking operations. They may offer internships in
private, commercial, corporate and investment banking divisions. Some banks may
limit interns with administrative tasks to assist their employees in day-to-day
operations. Interns rarely work in customer-facing roles during their internship
program.

DEPARTMENTS AT KARIM BLOCK BRANCH

 Clearing Department
 Customer Services Department
 Account Opening Department
 Cash Department

CLEARING DEPARTMENT

One of the basic economic functions of banks is to receive deposits and to honor
cheques drawn upon them. So, cheques are a most commonly used instrument for
making payments by account holders.
Now the question arises that how these cheques & other negotiable instruments
drawn on one bank are deposited in other banks and money is transferred from one
bank to another. Clearing House has provided this facility. Clearing house facilitates
different banks to get their cheques drawn upon other banks to be cleared.
Cheques lodged in clearing constitute two types of clearing
  Outward Clearing
 Inward Clearing

OUTWARD CLEARING
When cheques and other negotiable instruments drawn upon other banks like MCB,
ABN-AMRO of the same city (as Sukkur) are presented in Summit Bank Limited to
deposit them in the respective payee’s accounts, these instruments are lodged in
outward clearing of summit Bank limited.
When the cheques are presented in Summit Bank to be deposited in their respective
payee’s accounts, different stamps are put on cheques before their lodgment in
outward clearing.

Crossing the Cheques

Crossing means two parallel transverse lines, drawn across the face of the cheques
with or without words written in between them.
Crossing may be general or special. In clearing, cheques are crossed specially.
Cheques are stamped with bank’s name between two transverse parallel lines to
constitute special crossing. After the cheques have been crossed specially, the
holder cannot receive payment except through the banker named on the cheques.
Basic advantage of crossing is to save the instrument to go it from illegal hands. If,
crossed cheques is lost or stolen, there is no risk of wrong payment. So it is an
effective means of minimizing the risk of loss or forgery.

Clearing Stamp
After the cheques have been crossed specially, clearing stamp is put on the cheques
and other instruments, with the following days date, as these cheques would have to
be presented in their concerned drawee banks on the subsequent day.

Endorsement Stamp
It means anything written or printed upon the back of an instrument. So, at the end,
the cheques are endorsed in full (Endorsed specially) by putting the stamp with
words describing

“Payee’s account Credited in Summit Bank Limited, Shikarpur Road Branch Sukkur”.
After putting these three stamps on cheques & other negotiable instruments, they
are sent to NIFT (National Institutional Facilitation Authority) with Add List. NIFT after
segregating the cheques of different banks delivers them to their concerned banks,
which constitute the inward clearing for those (drawee) banks.

NIFT
NIFT stand for National Institutional Facilitation Technologies. Clearing is done with
the help of NIFT (National Institutional Facilitation Technologies). Clearing house of
SBP has shifted a part of its work to private institution names NIFT. NIFT collets
cheques, demand draft, pay order, traveler cheques etc. from all branches of
different banks within city through its carriers and send them to the branches on
which these are drawn for clearing. NIFT prepare a sheet for each branch and send
it to each branch as well as to State Bank of Pakistan where accounts of Banks are
settled.

INWARD CLEARING

Cheques and other negotiable instruments (PO, DD etc.) drawn on Summit Bank
Limited, Sukkur, sent by other banks, constitutes the inward clearing of Summit
Bank. After having all the stamps and dates of cheques confirmed, the concerned
drawer’s accounts are debited (in Summit Bank Limited) and main branch’s account
is credited by the total amount.

CUSTOMER SERVICES DEPARTMENT

The department that is responsible for opening and closing of an account assumes
immense significance and holds a central place in the basic banking operations. In
this department I worked under CSO, Miss Nadia Jatoi; who taught me about
following areas of her department:

PROCEDURE OF OPENING AN ACCOUNT

The Account Opening Form:

When a client comes to the bank, and makes a request for opening of an A/C. The
officer first gave him a prescribed application form.

Completion of the Form:

The name, occupation, and complete address of the person opening the account are
written in the columns provided in the form. One signature of the person is taken on
the face of the form and one is taken on the backside. These signatures should be
usual signatures and he would operate the account with them in future.

Specimen Signature Card (S. S. Card):

The signatures of the client are obtained on a specimen Signature card. These cards
are obtained in duplicate with two signatures on each card from the customer. Every
time a cheque is received for a payment from the client, the signature on the
cheques are verified by comparing them with the S.S. Card.

Issuance of Account Number:

When all the formalities are completed then the final approval of account has to be
taken from the Branch Manager. After obtaining approval of the branch manager an
account number is allotted to the customer and all the information is entered into the
computer.
Then that account number is printed on the Cheque Book, S. S. cards and account
opening form.

Issuance of a Cheques book:

After opening an A/C with the bank, the A/C holder once again makes a request in
the name of bank for the issuance of a cheques book. The A/C holder mentions title
of A/C, A/C number, sign it properly and mentions the no of leaves he requires.
Normally Summit Bank issues a cheques book having at least 25 leaves.
Every cheques book also contains one leaf that is used for another issue of a
cheques book

Entry of Cheque Book:

Before issuance of a cheques book, the employee performs certain functions. They
include:
Stamping every leaf if the account is photo account
Enters it in the Cheque book issue register.
After entry in the manual register, and in the system the employee issues the
Cheque book to the A/C holder after his/her signature on the register.

Recording in Computer:
After opening of account, all information regarding the account is entered into the
computer. Currently, a program named hPlus is being used for this purpose. Record
of all the transactions regarding the account of a customer is kept updated in the
computer.

PROCEDURE FOR CLOSING AN ACCOUNT

The procedure followed for the purpose of closure of an account is described in the
following steps

The client who wishes to close an account first has to give an application, duly
signed on the pre-printed application of the bank.

The client has to attach this application with the liability form. The client can also give
an application on a plain paper, but correct signatures are very necessary. Then it
has to be made sure that if the account to be closed is a saving or Foreign Currency
Account then the account balance before closing should be zero. In case of these
types of accounts the bank does not take any closing charges. If a client wishes to
close a current account then the bank charges Rs.150, so at the time of closing the
balance should be Rs.150.

Along with the application to close the account client’s Cheque book is also received
from him and then it is destroyed in order to prevent any misuse in the future. A
liability form is filled and sent to the Trade Finance Department and Credit
Department in order to check that the customer does not owe the bank a single
penny in any regard. A debit voucher and a credit voucher are also attached to the
liability form.

When both of these departments approve that the customer does not owe any
money to the bank and the form is returned to the account opening department then
the original account opening form pasted in the ledger when the account was
opened is marked ‘account closed’ along with the date on which it is so marked. One
thing has to be taken into immediate consideration that the account number allotted
to the client (who has closed his account), after closure of the account becomes
useless and is not allotted to anyone in the future.

After approval of the liability form, it is sent to either the Foreign.

Currency Accounts
Departments or the Cash Department, as the case may be so that the officer who
scanned it in the first place could return the specimen signature card to the account-
opening department.

Once the S. S. Card is received back from the concerned official then the liability
form, the client’s application along with the specimen signature card is pasted in the
ledger right alongside the original account opening form. The form has to be pasted
with the original account opening form even if the account was opened a decade
ago. In the computer as well all the entries and records related to that particular
account are permanently deleted by using the ‘close account’ option.

Locker Operations
Locker facility is also available at the branches of SMBL for keeping the valuables
there in and this facility is only for account holders. As for as privacy is concerned,
lockers are located in a specially designed area protected with strong room doors
and grills under the control of two officers, operated by use of Master Key and
Customers Key supplied to the customer at the time of locker is rented out. Lockers
are three types: Small, Medium and Large lockers.

A separate application form is complete and signed by the customer along with SS
Card and a copy of CNIC with two photographs. After competing all the formalities a
locker is allocated to the applicant and key is given to him with locker identification
card.

Procedure of issuance Bank Statement

For issuance of bank statement a requisition slip is taken from the customer duly
signed and the period from which the customer wants to take the statement. After
verification of signature Bank Statement is issuance to the customer.

Procedure of Stop Payment

For stopping the payment, we take sign of the customer on stop payment from where
in account number with date and amount of cheque is written. Customer also
mention the reason of stop payment then we mark that cheque as stop payment.

Procedure for ATM/PIN Issuance

Summit Bank limited provides the ATM facility to its Customers and they can
withdraw their amount at any time through ATM. For issuance of ATM, customer has
to sign an ATM from and Bank office make an entry in the system and within 15 days
bank receives ATM card from Head Office which is given to the customer.

For issuance of PIN and activation of ATM customer has to call the help line after
verification of customer, a PIN number is issue to him and his card is activated.

CAPTURED ATM CARDS

ATM cards when captured in ATM of SMBL are returned to the concerned customer
on verification. In both cases, either the customer belongs to SMBL or any other
bank, CNIC copy is demanded from customer for bank record, CSO fills the ATM
captured card form and customer signs that form in presence of CSO. For the record
purpose, ATM cards’ copy is also kept with bank.
If within seven days from captured card day, customer don’t contacts with bank, then
bank is responsible to dispatch ATM card to concerned bank’s Regional\Head Office.

CASH DEPARTMENT

In cash department both deposits and withdrawals go side by side. This department
works under the accounts department and deals with cash deposits and payments.
This department maintain the following sheets:

 Cash received voucher sheet

 Cash paid voucher sheet
 Deposit slip
 Cheque book
 Cash balance book

CHEQUE BOOK:

The only instrument that can be used to withdraw an amount from an account is the
Cheque book. No payments are made by another instrument. Cheques can be of
two types, they may be presented at the counter and enchased and the others are
clearing or transfer cheques. Cashier manually inspects the Cheque for following:
 Signature & date
 Cross cutting
 Drawee’s a/c title
  Amounts in words & figures
 Two signatures at the back

DEPOSIT SLIP:
For depositing the cash into customer’s accounts, there is need to fill in the paying-
in-slip giving the related details of the transaction. This paying-in-slip contains the
date, a/c/no, a/c title, particulars, amount being deposited and details of the cash.
There are two portions of the paying-in-slip.

The depositor signs the one part of the paying-in-slip one is retained by the bank to
show an acceptance of the entries made in the slip. The different colored paying-in-
slip are used for all the types of deposits. Only the slips related to a particular type of
a/c is acceptable by the bank. For example, current paying-in-slip for current a/c and
saving paying-in-slips for saving a/c etc. The paying-in-slip serves as a voucher to
update to computerized transaction ledger.

Remittance

 Western Union

We offer quick and convenient delivery of cash over the counter service in
association with Western Union. No matter where you are around the globe, if there
is Western Union around, you can transfer fund to your Loved once, in no time this
payment can easily be picked up in a matter of moments at dedication Western
Union customer in our branches. No Account at Summit Bank is required for this
service.

Cash book
A financial journal that contain all cash receipts and payment, including bank deposit
and withdraws. Entries in the cash book are then posted into the general ledger. The
cash book periodically reconciled with the bank statements as an internal method of
auditing.

ATM/ VISA DEBIT CARD

Using an ATM, customer can access their Bank deposit or credit accounts in order to
make a variety of transactions such as cash withdrawals, check balance, or credit
mobile phones, if the currency being withdrawn from the ATM is different from that in
which the bank account is denomination the money will be converted at the official
exchange Rate. This, ATMs often provide the best position Exchange Rate for
foreign travelers, and are widely used for this purpose.

SWOT ANALYSIS OF SUMMIT BANK

STRENGTHS OF SUMMIT STATE BANK – INTERNAL STRATEGIC FACTORS

 Highly skilled workforce through successful training and learning programs.

Summit State Bank is investing huge resources in training and development
of its employees resulting in a workforce that is not only highly skilled but also
motivated to achieve more.
 Strong Free Cash Flow – Summit State Bank has strong free cash flows that
provide resources in the hand of the company to expand into new projects.
 Strong distribution network – Over the years Summit State Bank has built a
reliable distribution network that can reach majority of its potential market.
 Highly successful at Go to Market strategies for its products.
 Good Returns on Capital Expenditure – Summit State Bank is relatively
successful at execution of new projects and generated good returns on capital
expenditure by building new revenue streams.
 Successful track record of integrating complimentary firms through mergers &
acquisition. It has successfully integrated number of technology companies in
the past few years to streamline its operations and to build a reliable supply
chain.
 High level of customer satisfaction – the company with its dedicated customer
relationship management department has able to achieve a high level of
customer satisfaction among present customers and good brand equity
among the potential customers.
  Strong dealer community – It has built a culture among distributor & dealers
where the dealers not only promote company’s products but also invest in
training the sales team to explain to the customer how he/she can extract the
maximum benefits out of the products.

WEAKNESS OF SUMMIT STATE BANK – INTERNAL STRATEGIC FACTORS

 Limited success outside core business – Even though Summit State Bank is
one of the leading organizations in its industry it has faced challenges in
moving to other product segments with its present culture.
 The marketing of the products left a lot to be desired. Even though the product
is a success in terms of sale but its positioning and unique selling proposition
is not clearly defined which can lead to the attacks in this segment from the
competitors.
 Organization structure is only compatible with present business model thus
limiting expansion in adjacent product segments.
 The profitability ratio and Net Contribution % of Summit State Bank are below
the industry average.
 The company has not being able to tackle the challenges present by the new
entrants in the segment and has lost small market share in the niche
categories. Summit State Bank has to build internal feedback mechanism
directly from sales team on ground to counter these challenges.
 There are gaps in the product range sold by the company. This lack of choice
can give a new competitor a foothold in the market.
 High attrition rate in work force – compare to other organizations in the
industry Summit State Bank has a higher attrition rate and have to spend a lot
more compare to its competitors on training and development of its
employees.

OPPORTUNITIES FOR SUMMIT STATE BANK – EXTERNAL STRATEGIC

FACTORS

 New environmental policies – The new opportunities will create a level playing
field for all the players in the industry. It represent a great opportunity for
Summit State Bank to drive home its advantage in new technology and gain
market share in the new product category.
  The market development will lead to dilution of competitor’s advantage and
enable Summit State Bank to increase its competitiveness compare to the
other competitors.
 New customers from online channel – Over the past few years the company
has invested vast sum of money into the online platform. This investment has
opened new sales channel for Summit State Bank. In the next few years the
company can leverage this opportunity by knowing its customer better and
serving their needs using big data analytics.
 Government green drive also opens an opportunity for procurement of
Summit State Bank products by the state as well as federal government
contractors.
 Stable free cash flow provides opportunities to invest in adjacent product
segments. With more cash in bank the company can invest in new
technologies as well as in new products segments. This should open a
window of opportunity for Summit State Bank in other product categories.
 Decreasing cost of transportation because of lower shipping prices can also
bring down the cost of Summit State Bank’s products thus providing an
opportunity to the company - either to boost its profitability or pass on the
benefits to the customers to gain market share.
 New trends in the consumer behavior can open up new market for the Summit
State Bank. It provides a great opportunity for the organization to build new
revenue streams and diversify into new product categories too.
 Organization’s core competencies can be a success in similar other products
field. A comparative example could be - GE healthcare research helped it in
developing better Oil drilling machines.

THREATS SUMMIT STATE BANK FACING - EXTERNAL STRATEGIC FACTORS

 Increasing trend toward isolationism in the American economy can lead to

similar reaction from other government thus negatively impacting the
international sales.
 Changing consumer buying behavior from online channel could be a threat to
the existing physical infrastructure driven supply chain model.
 New environment regulations under Paris agreement (2016) could be a threat
to certain existing product categories.
 Rising raw material can pose a threat to the Summit State Bank profitability.
 Intense competition – Stable profitability has increased the number of players
in the industry over last two years which has put downward pressure on not
only profitability but also on overall sales.
 The demand of the highly profitable products is seasonal in nature and any
unlikely event during the peak season may impact the profitability of the
company in short to medium term.
 No regular supply of innovative products – Over the years the company has
developed numerous products but those are often response to the
development by other players. Secondly the supply of new products is not
regular thus leading to high and low swings in the sales number over period of
time.
 The company can face lawsuits in various markets given - different laws and
continuous fluctuations regarding product standards in those markets.
 RECOMMENDATIONS FOR STUDENTS

In this section some recommendations for those students who are planning for an
internship at BOP particularly and in any other bank generally. The most important of
all is the difference between what we learn from the books i.e., the theory and what
actually is done i.e., in practice. This difference is described in detail below:

WORKING IN DIFFERENT DEPARTMENTS

During my internship I observed that other internees in the bank use to stick with one
department only. An internee with specialization in Finance was of the view that he
should be in Finance department same was the case with other specialized
Internees. But I would suggest that one must work in every department for some
time to gain a hand on experience of all the departments.
CONCLUSION

I have already discussed my Activities in form of executive summary I worked as an

Internee in SMBL Bank for 6 weeks as per required by university. During my
internship, there was a tremendous atmosphere in SMBL Bank. I learned so many
things from their management like how to work in a standard place. At my first day in
Karim block branch the bank Operational manager, Miss Zamurad Butt has
introduced me with different department of the bank. After that I have personally visit
every department one by one and observe what is happening there. All the officials
have cooperated me very much and provide me information, which I needed. The
most important benefit of this internship is that I got practical exposure of work place.
I got practical experience of working practices related with my field. I learned that
how to manage things and how to create balance among work life and personal life.
Management did help me a lot during my work they always guide me. I learned
whole process of account opening practically. I remained involved very much in
practical activities of account opening. I learned whole process of Clearing. I
processed the Inward cheques for collection and clearance, and have also prepared
vouchers.
Every transaction which takes place recorded in the computer. I was not allowed to
use software but I observed all the functions performed by Officers. In cash
department I observed the process of deposits, filled deposit slips, and learned how
the cash registers are maintained. In this department I did little work practically as it
was not allowed. During my internship I dealt with many customers and employees,
this was a great experience to learn, how to deal with customers, how to work under
pressure i.e., in rush hours. How to manage an office. My communication skills were
improved.