Internship Report on Muslim Commercial Bank new updated

Internship Report on Muslim Commercial Bank (MCB)

Dedication of Internship Report on Muslim Commercial Bank

I dedicate all my efforts and struggles of the educational life of my dear parents who help support and guide the course of my educational life, without them I’m meaningless. Also I devote the work of this Internship Report on Muslim Commercial Bank , as respectable and honorable teachers who teach and support me develop my personality as a competent professional. This internship report on bank dedicated to all students.

Acknowledgement

First of all I thank Allah, who is the holder of my breaths, without his order nothing is possible. Who give me spirit to write internship report on MCB

I am highly thankful to my respectable teachers and friends and family members who were my supporter throughout my educational career, further I thank all the employees of the branch MCB bank Limited, where I have done my internship. The internship report on marketing of Muslim commercial bank was encourage by all students.

I have set light, an ever-burning flame of gratitude and deep sense of obligation to my honorable teachers of Department of Business Management Sciences for their valuable guidance, constructive criticism and inspiring attitude during my studies. I appreciate and thanks to all the member of the faculty. Besides, this internship program makes me realize the value of working together as a team and as a new experience in working environment, which challenges us every minute. Not forget, great appreciation go to the rest of MCB’s staff that helped me to write internship report on Muslim commercial bank (MCB) from time to time during the project. The whole program really brought us together to appreciate the true value of friendship and respect of each other.

Last words are lacking to express my feelings and indebtedness to my affectionate Family and Friends for their love, appreciations, which always stand by me mentally and spiritually during all years of my study.

Executive Summary:

MCB is one of the leading banks of Pakistan with a deposit base of Rs. $ 368 million and total assets exceeding 500 million rupees. Founded in 1947, MCB soon earned reputation of a solid and conservative financial institution directed by expatriate executives. In 1974, the MCB was nationalized along with all other private sector banks.

 MCB bank is doing the day and the night struggle to achieve their purposes. These control costs and increase efficiency and effectiveness. It introduces the innovative concept of centralized services foreign trade branch to improve efficiency competition and reduce shipping costs.

Hence the internship report on MCB is presenting true picture of this organization. In coming pages of this internship report on Muslim commercial bank (MCB) readers could be able to understand how to write a effective internship report on MCB with in time table.

 During my internship at the MCB, I worked in remittances, advances, cash, deposits, customer service department office and successfully completed all tasks and duties were allocated to me. It also performs different functions in all departments as a whole. Therefore in the internship report on muslim commercial bank(MCB) is presenting true facts of this MCB bank branch and overall of this organization. The main of this internship report on mcb was to display a background picture of this organization as well as its SWOT analysis of MCB.

Table of Contents:

1. Executive Summary
2. Introduction to Muslim Commercial Bank (MCB)
3. Objectives of the Internship
4. Internship Duration and Location
5. Departmental Overview
6. Internship Tasks and Responsibilities
7. Learning Experience and Skill Development
8. Challenges and Problem-Solving
9. Achievements and Contributions
10. Conclusion and Reflection
11. Recommendations
12. Appendices a. Internship Agreement b. Daily Task Logs c. Training Certificates d. Performance Evaluations e. Reference Materials

1. Executive Summary:

This internship report provides a comprehensive overview of my internship experience at Muslim Commercial Bank (MCB). The report covers various aspects of the internship, including the objectives, duration, departmental overview, tasks and responsibilities, learning experiences, challenges, achievements, and recommendations. The internship at MCB offered valuable insights into the banking industry and contributed significantly to my professional development.

2. Introduction to Muslim Commercial Bank (MCB):

Muslim Commercial Bank (MCB) is one of Pakistan’s leading and largest commercial banks, with a rich history spanning over seven decades. Established in 1947, MCB has grown to become a prominent player in the banking sector, offering a wide range of financial products and services to its customers. The bank’s commitment to innovation, customer service, and ethical practices has earned it a strong reputation in the industry.

3. Objectives of the Internship:

The primary objectives of my internship at MCB were as follows:

• a. To gain practical exposure to the banking industry, its operations, and customer service.
• b. To develop a deeper understanding of various banking products and services.
• c. To enhance my interpersonal and communication skills by interacting with colleagues and clients.
• d. To apply theoretical knowledge acquired during my academic studies to real-world scenarios.
• e. To explore potential career opportunities within the banking sector.

Internship Duration and Location:

The internship at MCB spanned a period of three months, from June to August. I was stationed at the MCB branch located in Lahore, where I had the opportunity to work closely with experienced professionals in the banking field.

Departmental Overview:

During my internship, I was primarily assigned to the Retail Banking Department. This department plays a crucial role in providing banking services to individual customers, including savings and current accounts, loans, credit cards, and wealth management solutions. Additionally, I had the chance to interact with other departments, such as Human Resources, Compliance, and Operations, to gain a holistic view of the bank’s operations.

Internship Tasks and Responsibilities:

My internship tasks and responsibilities included:

• a. Assisting customers with account inquiries, transactions, and account management.
• b. Educating clients about various banking products and services.
• c. Handling cash transactions, including deposits, withdrawals, and currency exchange.
• d. Participating in customer service training programs and workshops.
• e. Collaborating with team members on daily branch operations.
• f. Conducting financial analysis and preparing reports as required by the branch manager.
• g. Shadowing experienced bankers to learn about loan processing and credit evaluation.

7. Learning Experience and Skill Development:

Throughout the internship, I acquired and developed various skills and knowledge, including:

• a. Enhanced customer service and communication skills.
• b. Proficiency in using banking software and systems.
• c. Understanding of regulatory compliance and risk management in banking.
• d. Insight into the importance of teamwork and collaboration in a professional setting.
• e. Knowledge of various banking products, including savings accounts, fixed deposits, and loans.
• f. Exposure to financial analysis and reporting.

8. Challenges and Problem-Solving:

During my internship, I encountered challenges related to addressing customer queries and resolving their issues promptly. These challenges provided opportunities to develop problem-solving skills and learn how to handle difficult situations effectively. I sought guidance from senior colleagues and supervisors, which contributed to my problem-solving abilities.

9. Achievements and Contributions:

During my internship, I actively contributed to the branch’s daily operations and customer service efforts. I received positive feedback from both customers and colleagues for my dedication and commitment to providing exceptional service. Additionally, I successfully completed a financial analysis project that helped the branch identify areas for potential improvement.

10. Conclusion and Reflection:

My internship at MCB was a valuable learning experience that exposed me to the intricacies of the banking industry. It allowed me to develop essential skills, gain practical knowledge, and explore potential career paths within the sector. I am grateful for the support and mentorship provided by the MCB team.

11. Recommendations:

Based on my internship experience, I recommend that MCB continue to invest in internships and training programs to nurture future talent. Additionally, the bank could consider expanding its internship opportunities to provide students with exposure to a broader range of banking functions.

12. Appendices:

The appendices include documents such as the internship agreement, daily task logs, training certificates, performance evaluations, and reference materials.

This internship report summarizes my journey and the valuable insights gained during my time at Muslim Commercial Bank. It has been a fulfilling experience that has enriched my understanding of the banking industry and prepared me for future endeavors in the field.

Brief Introduction of Banking Sector.

Banking in its modern form and structure started inBritainwhen many of theLombardymerchants came toEnglandin the fourteenth century and settled in the parts of the city ofLondonnow calledLombard Street.

Over the period of time they discovered that large sum of the money were left in their custody for long periods; which suggested the use of cash to advance loans t other person for a fixed period of time and considerably high rate of interest.

Thus began the “issue” and “deposit” banking of the modern times. Some of the enterprising goldsmiths issued “cheque books” for the attraction of their customers; and thus another step in the evolution of banking had taken place.

Departments of Muslim Commercial Bank

For proper functioning of branches and the over all bank has been divided in different departments. division in a branch is as follows:
• Account opening department of Muslim commercial bank
• Remittance department of Muslim Commercial bank
• Clearing department of Muslim Commercial bank
• Deposit department of MCB
• ATM department of MCB
• Foreign exchange department of MCB.
• Technology department of MCB.

Account Opening Department:

Account opening department— as it name suggests— deals with opening new deposits accounts for customers. To open an account the customer have to meet the general banking manager with an introducer (the person who is going go introduce that person in the bank) and get an application form used for account opening.

Different color-coded application forms are available for each type of account.  Along with the form a card for specimen signature is also supplied to customer. Manager has every right not to accept this contract if he is not satisfied by the details provided by the customer.

The report internship report on Muslim Commercial bank(MCB) is giving to much detail about account opening department of MCB.  In case the contract is acceptable to both, now it is ready to open the account formally.

Remittance Department:

A major function of any banking system is the transfer of funds from one client or one place to another. By providing this service to the customer the bank earns a lot of income in the form of service charges. This department deals with local currency remittance i.e. remittance from one city to another without actually carrying the currency.

 MCB uses following instrument for transferring of money:

• Demand Drafts (DD)
• Pay Order (PO)
• Telegraphic Transfer (TT)

• Mail Transfer (MT)

Clearing Department:

Every banker acts both as a paying as well as a collecting banker, It is however an important function of crossed cheques. A large part of this work is carried out through the bankers clearing house.

A clearing house is a place where representative of all banks of the city get together and settle the receipts and payment of cheques drawn on each other. As the collecting banker runs certain risks in receipt of their ownership the law has provided certain protections to the banks.

The Negotiable Instrument Act, 1881, lays down hat drawer or holder of a Cheques or draft may cross the instrument generally or specially. It further lies down that crossed Cheques can only be paid to a banker, who collects it for a customer in good faith and without negligence.

Future Prospects of the Organization.

The board of the directors and management of the MCB bank truly believe in the resilience of Pakistani nation to overcome the political and economics challenges face up by the country. We believe that the country fundamentals give it an edge to recover better then many nations from the global financial crises. So the internship report on Muslim Commercial bank(MCB) is giving true finding about future prospects of the organization.

We intend to keep investing in and nurturing the abundant natural and human resources of Pakistan. MCB bank maintains its presences in the region, which it’s believes to have enormous potential for growth. MCB’s is exploring new markets and plans to open more overseas operations once the global financial markets start showing sign of sustainable recovery and growth in business. Meanwhile we are focusing on consolidating our position abroad in the existing operation.

  Conclusion

During the Internship Report on Muslim Commercial Bank I worked in many departments. I feel that there is lack of staff, due to this reason an each worker has to do a lot of works and responsibilities.

I judge that there was lack of trained people and motivation. So the efficiency and effectiveness are affected. It seems low advertisement Of  MCB BANK. Therefore after writing internship report on MCB i have reached at this point that MCB worth in marked is good as compare to other bank.

MCB should continue with the same spirit to serve the Pakistani citizens in the country and all over the world. The financial position of the bank is very strong, as compared to some of the nationalized banks and even some of the private banks.

 MCB has tried to provide the best services and safety to the public by introducing the Rupees Travelers Cheques and by having the largest network of Automated Teller Machines.

After writing internship report of MCB and Financial ratio analysis groups the ratios into categories which tell us about different facets of a company’s finances and operations. An overview of some of the categories of ratios is given below.

• Liquidity ratios measure a firm’s ability to meet its current obligations.
• Profitability ratios measure the earning ability of a firm.
• Activity ratios measure a firm’s ability to convert different accounts within their Balance sheets into cash or sales.
• Market ratios are commonly used by the investors to assess the performance of a business as an investment and also the cost of issuing stock.
• Leverage Ratios which show the extent that debt is used in a company’s capital structure.

 As we can see that bank  current ratio is not  increasing in 2023 and quick ratio is decreasing in 2023 as compared to other years. Working capital is negative . This is not  a good sign. Earnings have decrease and interest expenses have decrease. Debt has decrease Net profit and operating income margin have increase in 2008 Return on Operating Assets is satisfactory.  the net sales have increase profit.

Suggestion And recommendation.

As we can see that bank  current ratio is increasing in 2009 but quick ratio is decreasing in 2010.as compared to other years. So I suggest that bank should pay more attention to improve quick assets. Working capital has also decrease in 2010. This is not good sign. Earnings have decrease and interest expenses have decrease. Bank should control these expenses. Debt has decrease which is good for the bank MCB.Net profit and operating income margin have increase in 2010. Bank should work to improve the Return on Operating Assets. Although the net sales have increase but bank should work to improve the grass profit margin. Total assets turn over is maintained in 2010 but bank should pay more attention in this respect.

Other Recommendation for Muslim Commercial Bank (MCB)

1. MCB should try to in range the current ratio for getting short term financial strength.
2. MCB should measure the liquidity risk through its designed framework time to time to reduce the liquidity risk position of the bank
3. MCB should control its Administrative expenses it has been rose as compare to previous years
4. The strength of the bank is enough strong, but there is need to increase to deposit to compete the market.
5. In the light of above suggestion, MCB should increase its branch network to get maximum deposit and increase its sales.
6. MCB should encourage the employee through offering them effective performance appraisal system
7. MCB should hire a skilled person highly professional staff for bank efficiency

References & Sources & Annexes.

Note:

Students may get whole report, almost cover 70 pages (Latest report) only in Rs 500/- the charges will be used for our website hosting charges, it has been noted that students still demand discount on 500/- i am very disappointed upon their reaction, as we already had set very cheap, affordable price to them. Kindly deposit the money through ease pesa or bank account and get full report. 

Email: qundeel.com@gmail.com