CHAPTER -1Overview or Profile of IFIC Bank Limited

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1.0 INTRODUCTION OF IFIC BANK LIMITED

International Finance Investment and Commerce Bank Limited (IFIC Bank) is a

banking company incorporated in the People's Republic of Bangladesh with limited

liability. It was set up at the instance of the Government in 1976 as a joint venture

between the Government of Bangladesh and sponsors in the private sector with the

objective of working as a finance company within the country and setting up joint venture

banks/financial institutions abroad. The Government held 49 per cent shares and the rest

51 per cent were held by the sponsors and general public. In 1983 when the Government

allowed banks in the private sector, IFIC was converted into a full-fledged commercial

bank. The Government of the People’s Republic of Bangladesh now holds 35% of the

share capital of the Bank. Leading industrialists of the country having vast experience in

the field of trade and commerce own 34% of the share capital and the rest is held by the

general public. The Bank is being managed by a group of highly experienced

professionals with diversified experience in finance and banking.  The Management of

the bank constantly looks after customers’ satisfaction and believes that a satisfied

customer is a great Ambassador. The bank has already ranked as one of the quality

service providers & is known for its reputation. The offers the full range of banking

services for personal and corporate customers, covering all segments of society within the

framework of Banking Company Act and rules and regulations laid down by our central

bank. All activities of the Bank including its products and services are mainly for

different economic groups of Bangladesh at home & abroad. Bangladeshi expatriates

living abroad in different countries form a strong economic group who contribute greatly

towards the economic development of the country.

1.1 VISIONS OF IFIC BANK LIMITED

To be the best private Commercial Bank In Bangladesh and International in terms of

efficiency .capital adequacy .asset quality .sound management and profitability having

strong liquidity.

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1.2 MISSION OF IFIC BANK LIMITED

IFIC mission is to provide service to our clients with the help of a skilled and dedicated

workforce whose creative talents, innovative, actions and competitive edge make our

position unique in giving quality. Service to all institutions and individual that we care

for. We are committed to the welfare and economic prosperity of the people and the

community. For we drive from them our inspiration and drive for onward progress to

prosperity. We want to be the leader among banks in Bangladesh and make our indelible

mark as an active partner in regional banking operating beyond the national boundary.

In an intensely competitive and complex financial and business environment. We

particularly focus on growth and profitability of all concerned.

1.3 GOALS AND OBJECTIVES OF IFIC BANK LIMITED

Maximization of profit through customer satisfaction is the main objective of the Bank .in

addition .the others relevant objectives are:

1. To be market leaders in high quality banking products and services.

2. Active excellence in customer service through providing he most modern and

Advance state of art technology in the different spheres of banking.

3. To participate in the industrial development of the country to encourage the new

and educated young entrepreneurs to undertake productive venture and

demonstrate their Creativity and there by participate in the national development.

4. To provide credit facilities to the small and medium size entrepreneur located in

urban and sub urban area and easily accessible by our branches.

5. To reduce dependence of moneylender.

6. To make the small and medium enterprise self --reliant.

7. To develop saving attitude and making acquaintance with banking facilities.

8. To inspire for undertaking small projects for creation employment through

income.

9. To ensure the high return on investment

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10. To strive for profit and sound growth.

11. To play a significant role in the economic development of the country.

12. To protect money laundering.

1.4 CORPORATE INFORMATION PROFILE

Name of the Company International Finance Investment and Commerce (IFIC) Bank Limited

Legal Form IFIC Bank Limited was incorporated in Bangladesh and registered with Joint Stock Companies and Firms as a public company limited by shares

Company Registration Number 4967,Dated October 08,1976

Authorized capital Tk 1600 Million

Paid up capital Tk 671 Million

Listing Status Listed with Dhaka stock Exchange Ltd .(DSE) and Chittagong stock Exchange Ltd . CSE In 1986 $1995 Respectively .

Market Category A category

Tax Payer Identification Number ( TIN)210-200-0537,LTU,DHAKA

Vat Registration Number 9021077014

REGISTERED OFFICE BSB Bhaban (17th ,18th ,19th floor )8 Rajuk Avenue, Dhaka -1000Tel:9563020-29,fax.9562015TelexIFIC BDE-MAIL--:info@IFICbankbd.comWeb:www.IFICbankbd.com

Auditors Howladar Yunus & Com. Chartered Accountants

Name of Chairman Mohammad Lutfar Rahman

Name of Managing Director Mosharuf Hossain

Number of employees 3152

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Number of Branches 82

Number of Shareholder 9562

1.5 BOARD OF DIRECTORS

Board of Directors

1 Mr. Mohammad Lutfar Rahman Chairman2 Mr. Abu Tahir Mohammad Golam Maruf Director3 Mr. Murshed Murad Ibrahim Director4 Mr. Aminur Rahman Director5 Mr. Md. Yasin Ali Director6 Mr. Didarul Alam Director7 Chowdhury Nafeez Sarafat Director8 Mr. Gulzar Alam Chowdhury Director9 Mr. Tanim Noman Sattar Director10 Mr. Mahmudul Huq Bhuiyan Director11 Mr. Arastoo Khan Director12 Mr. Syed Monjurul Islam Director13 Mr. Mohammad Ali Khan, ndc Director

1.6 LIST OF THE ALL BRANCHES OF IFIC BANK LIMITEDSERIAL NO

CODE BRANCH NAMEBRANCH  MNUMONIC

1 2030 AGRABAD BRANCH 0801

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2 1197 ASHULIA BRANCH ASHU3 1112 BAJITPUR BRANCH BJIT4 1096 BANANI BRANCH BANA5 6187 BANESHWAR BRANCH BNSW6 1011 BANGSHAL BRANCH 08087 5064 BARISAL BRANCH BARI8 3138 BEANI BAZAR BRANCH BEAN9 6188 BELKUCHI BRANCH BELK10 4166 BENAPOLE BRANCH BENA11 6082 BOGRA BRANCH 081212 4067 BORO BAZAR BRANCH BORO13 2034 BRAHMANBARIA BRANCH BBAR14 2054 CDA AVENUE BRANCH CDAB15 6086 CHAPAI NAWABGANJ BRANCH CHAP16 2040 CHAWK BAZAR BRANCH CBZR17 2050 CHOUMUHANI BRANCH CHOU18 2035 COMILLA BRANCH COMI19 2148 COMPANYGANJ BRANCH CPNY20 2044 COX'S BAZAR BRANCH COX21 1193 DANIA BRANCH DANI22 1006 DHANMONDI BRANCH 081423 6083 DINAJPUR BRANCH DINA24 1014 ELEPHANT ROAD BRANCH 081025 1023 FARIDPUR BRANCH FDP26 2152 FATIKCHARI BRANCH FATK27 1008 FEDERATION BRANCH 080728 2041 FENI BRANCH FENI29 1109 GHORASAL BRANCH GHO30 3151 GOALA BAZAR BRANCH GOAL31 1002 GULSHAN BRANCH 080232 2137 HATHAZARI BRANCH HATH33 9900 HEAD OFFICE HO34 1005 ISLAMPUR BRANCH 079935 4061 JESSORE BRANCH 081136 1017 KAWRAN BAZAR BRANCH 081637 1195 KERANIGANJ BRANCH KERN38 2031 KHATUNGANJ BRANCH 080039 4060 KHULNA BRANCH 080440 1121 KONABARI BRANCH KONA41 4062 KUSHTIA BRANCH KUSH42 1025 LALMATIA BRANCH LAL43 2153 MADAM BIBIR HAT BRANCH MBHB44 1118 MADHABDI BRANCH MADB45 1019 MALIBAGH BRANCH MALI46 1094 MOHAKHALI BRANCH MOHA47 1001 MOTIJHEEL BRANCH 079648 1004 MOULVI BAZAR BRANCH 079749 3046 MOULVI BAZAR BRANCH (DIST.) MBD50 1115 MUKTARPUR BRANCH MKT51 1022 MYMENSINGH BRANCH MSIN52 6085 NAOGAON BRANCH NAOG

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53 1003 NARAYANGANJ BRANCH 079854 1110 NARSINGDI BRANCH NAR55 1029 NAWABPUR ROAD BRANCH 081756 1020 NAYA PALTAN BRANCH NAYA57 1016 NETAIGANJ BRANCH NTG58 4163 NOAPARA BRANCH 0815

59 1028NORTH BROOKE HALL ROAD BRANCH

NBHR

60 6084 PABNA BRANCH PBNA61 1027 PALLABI BRANCH PLLB62 1173 PANCHABOTI BRANCH PANC63 6080 RAJSHAHI BRANCH 080564 6081 RANGPUR BRANCH RANG65 1198 RUPGONJ BRANCH RUP66 4065 SATKHIRA BRANCH 081367 1171 SAVAR BAZAR BRANCH SAVR68 2042 SHAH AMANAT MARKET BRANCH SAM69 1007 SHANTINAGAR BRANCH SHAN70 1092 SHARIATPUR BRANCH SHAR

71 2132SHEIKH MARKET BRANCH (OLD)/ NOZUMIA HAT BRANCH (NEW)

NOJU

72 2045 SHEIKH MUJIB ROAD BR SMR73 3047 SHREEMONGAL BRANCH SMGL74 1090 STOCK EXCHANGE BRANCH STOK75 3043 SUBID BAZAR BRANCH SUBD76 3033 SYLHET BRANCH 080377 1126 TAKERHAT BRANCH TKHT78 1091 TANBAZAR BRANCH TANB79 2036 TERRI BAZAR BRANCH 080980 3139 TULTIKAR BRANCH TULT81 3049 UPOSHOHAR BRANCH UPO82 1024 UTTARA BRANCH 0818

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Map of the Branches of IFIC Bank Limited

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1.7 PRODUCTS

Simply product is a solution of customer needs and wants. A product is an element in the

market offering. Product is anything that can be offered to a market for attention.

IFIC CARDS

IFIC Card is powered by VISA, world's largest electronic payments network. IFIC Bank

has been issuing VISA branded Credit Card, Debit Card & Prepaid Card. Customer can

choose any of the above card according to his/her need.

IFIC

CREDIT CARD

Types of Credit Cards

IFIC Bank VISA Credit Cards are issued in two types namely Gold and Classic for both

local and international use. The Local Cards can be used at any ATM displaying VISA

Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of

goods & services within Bangladesh whereas the International Cards can be used at any

ATM and POS displaying VISA logo anywhere in the world. International credit card is a

dual currency card and as such you can use the same plastic at home & abroad. Classic

cards are for lower limits and less costly.

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IFIC

DEBIT CARD

IFIC Bank VISA Debit Card can be used at any ATM displaying VISA Logo for

withdrawal of cash and at any POS displaying VISA Logo for purchase of goods &

services within Bangladesh. ATM transactions are to be secured by Personal

Identification Number (PIN) known by the concerned customer only. POS transactions

will not require PIN. However, all the transactions are to be authorized by the system

electronically. IFIC debit card is issued against any individual savings/ current account

maintained with any branch of IFIC Bank Limited. The designated savings/current

account can be operated by using the debit card without using cheques 24 hours in a day,

7 days in a week, 365 days in a year. The customers are not required to pay any charge

for transactions at Merchant Point of Sale (POS) for purchasing goods and services. For

cash withdrawal from ATM/Branches, a little charge may be applied. No interest will be

calculated on cash withdrawal or purchases. No minimum amount due and no hassle of

payment of monthly bills.

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IFIC

PREPAID CARD

IFIC Bank VISA Prepaid Card can be used at any ATM displaying VISA Logo for

withdrawal of cash and at any POS displaying VISA Logo for purchase of goods &

services within Bangladesh. ATM transactions are to be secured by Personal

Identification Number (PIN) known by the concerned customer only. POS transactions

will not require PIN. However, all the transactions are to be authorized by the system

electronically. Prepaid card is safer than carrying cash and more convenient than writing

cheques. IFIC Prepaid card is issued by the branches instantly on filling-up the

Application Form and making initial deposit. There is no need to have any account with

the Bank. Prepaid card are suitable for the customers who does not maintain any account

with IFIC. No interest will be calculated on cash withdrawal or purchases. No minimum

amount due and no hassle of payment of monthly bills.

IFIC BANK POS

Bank POS are available at all the branches of the Bank. Any IFIC Card Holder can

withdraw cash from any branch of IFIC Bank Ltd. through Bank POS. Credit Card

Holders can withdraw cash up to 100% of their credit limit.

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Customer Care

Customers can feel free to visit our Card Division on any working day or dial 9559703 or

PABX: 9563020 Ext. 500, 502 or Fax: 9570282 or email: mailto:'card@IFICbankbd.com'

for further information. Please dial 9559703 or 01713229817 at any time for help.

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LEVELS OF PRODUCTS

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1 POTENTIALPROUCT

5 CORE BENEFIT

4 BASIC PRODUCTS

3 EXPECTED PRODUCT

2 PRODUCTS AUGMENTED

1.8 PRODUCT DECISION (IN BANK)

Tight product decision in the tight time is essential for all organization. If focuses on

decision about product attributes branding, pack aging, labeling and product support

services IFIC BANK LIMITED

PRODUCT ATTRIBUTES:

Developing a product or service involves defining the benefits and design. In case of

IFIC Bank Limited .various deposit schemes are product.

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Product Attributes

Branding Packaging Labeling

Product Support Service

80% Loan Facility after 3years

Attractive BrochuresDistinction From

OthersC.S.S

Various Deposit Schemes

1.9 NEW PRODUCT PLANNING PROCESS:

New product planning is guided by customer needs analysis:

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Customer Needs Analysis

Idea Generation

Screening and evaluation

Business Analysis

Business Analysis

Screening & Evaluation

Testing

Commercialization

UPCOMING SERVICE

1. ATM

2. BANKING SOFTWARE

3. TELE BANKING

4. INTERNET BANKING

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CHAPTER -2Introduction to the Report/Study

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2.1 INTRODUCTION TO STUDY

International Finance Investment and Commerce Bank Limited (IFIC Bank) is a

banking company incorporated in the People's Republic of Bangladesh with limited

liability. It was set up at the instance of the Government in 1976 as a joint venture

between the Government of Bangladesh and sponsors in the private sector with the

objective of working as a finance company within the country and setting up joint venture

banks/financial institutions abroad. The Government held 49 per cent shares and the rest

51 per cent were held by the sponsors and general public. In 1983 when the Government

allowed banks in the private sector, IFIC was converted into a full-fledged commercial

bank. Diversifications of products and services and innovation of products suited to the

needs of the customers in keeping with relevant rules laws have made it different from

other local commercial banks of the country. This bank is committed to provide high

quality financial services to the people to develop of the nation. Effective Credit

Administration can ensure good recovery of loan and advance and good interest. Most of

the share of the total profit comes from credit operation and the existence of the bank

depends on accumulated assets that they get from clients or customer. What bank do they

collect surplus money from customer and give to them who need this money. On this

process bank charge interest for giving credit and give interest for collecting money.

Training and Development is vital issue of Human Resource Management. By using

Training and Development process any bank can improve their performance and also

activity level. Employee can survive and they have the opportunity to over come any

obstacles. By using Training and Development process organization make satisfies to

there employee can improve their abilities and skills.

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2.2 RATIONALE OF THE STUDY

This study will helpful to have an idea about real world situation. Moreover completion

of internship is mandatory for the fulfillment of BBA degree. This experience will help in

my professional life. I have been place in IFIC bank for my internship. So I shall work

on different aspects of this bank. However the better performance of all organization

depends on its complaint human resources. The competence of HR can be increased

through proper training and development. This will help to provide better service to their

customers, which is important for increase the productivity and profitability for the bank.

As such I have decided to conduct my internship on training & development system of

the organization.

2.3 STATEMENT OF THE PROBLEM

Human Resource is one of the most important assets and also as part of the organization

concerned with the “people” dimension. The present day workforce is quit different from

yesterday and this change is continuing. As jobs in today’s dynamic organizations have

become more complex and challenging, the importance of employee education and

training has been increasing. Every organization needs to have well adjusted, trained an

experienced people to perform the activities to achieve the organizational goal. When

jobs are simple, easy to learn and influences on only a small degree by technological

change, there was little need for employees to upgrade or alter their skills. But that

situation rarely exists today. Instead, rapid job changes are occurring, requiring employee

skills to be transformed and frequently updated. In organizations, this takes place through

employee training.

In general, training refers to a planned effort by a company to facilitate employees

learning of job-related competencies. Inadequate job performance or a decline in

productivity or changes resulting out of job redesigning or a technological break-through

require some type of training and development efforts. As the job become more complex

importance of employee development also increases. In a rapidly changing society,

employee training and development is not only an activity that is desirable but also and

activity that an organization must commit to maintain a viable a knowledgeable

workforce. The goal of training is for employees to master the knowledge, skill and

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behaviors emphasized in training programs and to apply them to their day-to-day

activities.

More employees today are taking advantage of the fact that training can strengthen

employee commitment. Few things illustrate a firm’s commitment to its employee’s more

than continuing development opportunities to better themselves and such commitment is

usually reciprocated. Training has become a mandatory tool to survive in the hard facing

workforce. To accelerate the over all human recourse management achievement, training

works as a major part of its dimensions.

The banking sector in Bangladesh is very much competitive. More over customers are

becoming more demanding and sophisticated day by day. In order to meet their

increasing demand the organization has to provide better services to their customer. For

this reason employees and executives have to provide with modern learning and

knowledge. Training is the only ways to enrich this learning. The training program o

introduced by the bank could not meet the expectations of sophisticated customer. In

order to develop creativity, innovativeness, and enabling capability of human resources

the bank has to update their training program with the changing needs of customers. So

that they can maintain their competitive edges. As such I have decided to study training

and development aspects of the Bank. Different issues covered for the study to serve our

purposes are:

HRM Training & Development includes:

o Globalization

o Technology

o Work force diversity

o Changing skill requirements

o Continuous improvement

o Work process reengineering

o Decentralized work sites

o Employee involvement

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These types of training & development criteria are not always followed in private and

public organization of Bangladesh and this is our job to find out the cause and impact of

the problem.

2.4 SCOPE AND DELIMITATION OF THE STUDY

This study will deal with the HR department of IFIC Bank, where training &

development practice is vital issue. This study will be confined to the Mohakhali Branch

of IFIC Bank. The overall function will perform in the bank and will be covered for the

study. The corporate office of the bank will also be contacted to have meaningful

information about the study.

2.5 OBJECTIVE OF THE STUDY

The objectives are as follows:

Broad objective:

The Primary purpose of the study is to have thorough understanding about the bank

training & development in IFIC bank.

Specific objectives:

To know about the training and development policy of the IFIC.

To reveal how to identify training needs of employee and executives.

To examine the current training& development program of IFIC bank.

To find out the multiplicity of the training and development program imparted to

the people in different functional areas of the organization.

To evaluate the employee performance of IFIC Bank after getting training.

To measure the attitude of employee toward training.

To highlight the system used for evaluating of effectiveness of training.

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2.6 METHODOLOGY OF THE STUDY

Data Sources

Primary sources Secondary sources

Verbal Interview, Questionnaire, discussion etc.

Articles, Newspaper, magazine, Internet, IFIC Report etc.

Both primary and secondary data will be collected for the study. Primary data will be

collected through standard questionnaire and interview method. The questionnaire will

prepare on the basic of the objective of the study. Secondary data have been collected

from the text books, annual report of the bank, published documentation of the bank,

internet etc.

Primary data analysis:

I had done survey for my data collection. I personally went to responded and asked

relevant question and collected data. I prepare questionnaire and ask them to fill it.

Secondary data analysis:

I also browsing different website in internet for more information. I read different article

in paper and magazine for know more about it.

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2.7 LIMITATION OF THE STUDY

Every matter has got some limitation. So this is also not an exception. The limitations of

this internship report are been sated below:

a) Due to time and cost restriction, the study is concentrated in selected areas of the Bank.

. To continue study in such a vast are requires a big deal of time. As an internee I had

only three month which is not enough.

b) As a financial organization the bank used to maintain confidentiality of their valuable

data. As a result the study is mostly depends on official files and annual reports.

c) It was very difficult to verify the accuracy of the collected data. Available data also

could not be verified.

d) IFIC as a private commercial bank they are very busy and they could not able to give

me enough time for discussion about various topics.

Though there are some limitations I have tried my best to collect adequate data and

information to make the report meaningful.

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CHAPTER -3Analysis and Interpretation of the Data

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3.1 HUMAN RESOURCE DEVELOPMENT OF IFIC

Human resource development is an essential pre-requisite for achieving organizational

goals. No organization can run successfully in a changed environment without

developing its employees’ human qualities. Training is a recognized way through which

organization could help improving its employees’ efficiency. It is also an on going

systematic process. It helps to bring about developmental changes in knowledge, skill and

attitude of an employee.

Human Resources Development is focused on recruitment and in-house training for both

on the job and off the job Bank staff members through the Bank’s Academy. IFIC Bank

Academy – the oldest institution in the private sector – was conceived of as an in-house

training center to take care of the training needs of the Bank internally.

Academy is fully equipped with a professional library, modern training aids and

professional faculty. Library has about 4941 books on banking, economics, accounting,

management, marketing and other related subjects.

Main training activities consist of in-depth foundation programmers for entry level

Management Trainees. Specialized training programmers in the areas like general

banking, advance, foreign exchange, marketing and accounts etc. are also organized by

the Academy depending on need.

Frequently outreach programmers are organized to meet demand for new and specialized

skills.

During its 25 years of existence, Academy not only conducted courses, workshops and

seminars as required by the Bank, but it also organized training programmers for the

Bank of Maldives, Nepal Bangladesh Bank Limited and Oman International Exchange

LLC. In addition, Academy has also the credit of organizing system of Bank of Maldives.

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In addition to conducting courses internally, The Academy also selects candidates for

nomination to various courses conducted by distinguished training organizations in the

country including Bangladesh Bank Training Academy and Bangladesh Institute of Bank

Management.

The Academy also re-designs its courses, programmers etc, regularly to meet the

requirement of new skills arising out of various directives, guidelines of the Central Bank

and significant changes in the banking sector from time to time.

3.1.1 HR POLICY

Policy is guideline to action Human Resource policy is the most vital element of

corporate policy since it guides recruitment, selection, orientation training and placement

of personnel. Apparently human resource policy is concerned with proper use human

required for undertaking activities in order to achieve corporate goals and objectives.

3.1.2 AIMS OF HRM POLICY

Human resources policy generally aims at the following

Achieving the main objectives of the organization.

Creating committed employees.

Developing trained personnel.

Consultative service to employees.

Managerial leadership.

Delegating of authority.

Co-operation to and from employees

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Security of employments.

Opportunity to growth.

Fair salary.

Objectives evaluation of work.

3.2 MAIN OBJECTIVE OF HRM

Establishment and maintenance of an adequate organization structure and

promotion of harmonies working relation among the members of all levels on

company’s pay roll.

Integrating the employees and employee groups with company and there by

obtaining their commitment, loyalty and involvement in company’s work and

high level of productivity.

Effective utilization of the organization’s human resources for achieving goals of

the organization.

Recognizing and satisfying employee goals and group goals for motivation.

Taking appropriate steps to maintain employee morale at high level and ensuring

adequate work performance.

Providing opportunity for individual growth and development in the firm tough

job satisfaction.

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3.3 ACTIVITIES OF HRM

HRM has a significant role in today IFIC and must be forward thinking. They must take

the lead in assisting good achievement with the “people” component of the organization.

Under the guidance of HRM, employees of an organization can assist it in gaining and

maintaining a competitive advantage. Attracting and maintaining such employees require.

HRM of IFIC will also recommend and implement changes regarding where necessary.

Human resource management has its focus mainly on balancing the needs, goals,

objectives and values of both employers and employees. Polices form rules of conduct

and they should be based on the following principles.

Putting right man in the right place by a careful program of selection procedure

and placement to make sure that the new recruit is physically, mentally and

physically, mentally and psychologically fit for the job to be performed. This is

needed for the new employee to develop and grow.

Training the new recruits for developing technical competence to perform so that

they can discharge their duties and responsibilities efficiently.

Transforming the organization into a coordinated entity of different departments

permitting reduction of interpersonal and interdepartmental function and

conflicts.

Ensuring employee security with opportunity, incentive and recognition, thereby

encouraging employees to stick to their jobs in the hope of advancement in the

organization and thereby reducing turnover and loitering.

Supplying proper equipment and promoting right conditions of work to facilitate

production at lowest possible cost.

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Looking ahead and ensuring production and distribution of superior quality foods

and services for catering to the rising and changing requirements of the

consuming public.

Rewarding star performers. Reward should be earned, not given.

3.4 TRAINING & RESEARCH OF IFIC

Human Resource Development activities aim at fulfilling the banks mission. One of IFIC

four major missions is to: “Provide service to our clients with the help of a skilled and

dedicated workforce whose creative talents, innovative action and competitive edge make

our position unique in giving quality service to all institutions and individuals that we

care for”.

Skilled and dedicated workforce with creative talents, innovative action is not always

readily available. Appreciating the scarcity of such manpower, the bank from the very

beginning laid important to HRD that conceptually includes activities like: pre-

recruitment drill, recruitment, induction training training in the academy, job rotation,

placement and posting, reward and promotion. All these activities are planned by the

bank in an integrated way aiming at manpower with required technical, managerial,

human and conceptual skills.

Management of IFIC bank not only appreciates the need of skills required for day to day

banking but also realize the need of skills meet the national and global financial and

economic environment that are changing fast.

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3.4.1 EMPLOYEES TRAINING OF IFIC

IFIC employs a large number of employees for performing various jobs. Some of them

are newcomers. They need more knowledge and skill for better performance of jobs.

They are, therefore, in need of proper training to contribute to the achievement of the

organizational goals. There are some jobs that require little or no training but many of

them need to be performed by adequately training. The use of modern technology has

created new jobs in the organization, which required training.

Training involves the change of skills, knowledge, attitudes or behavior of employees.

Although training is similar to development in the methods used to attract learning, they

differ in time frames. Training is more present day oriented; its focus is on individuals’

current jobs, enhancing those specific skills and abilities to immediately perform their

jobs. Employee development, on the other hand, generally focuses on future jobs in the

organization.

Training differs from education. Training is concerned with increase in knowledge, skills,

and abilities of the employees in doing a particular job. It has a narrow aim limited to

increase in knowledge and skill related to a job. Education, on the other hand, broadens

the mental faculties and horizon of knowledge. It is concern with enhancing general

knowledge and motivating one to understand the total environment.

Training is often understood as a learning experience. So, if employees are to understand

what training can do to improve an employee’s job performance, employee should begin

by explaining how learn.

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Training widens job related knowledge of the employee. Employees become more skilled

and update their knowledge through training. Training provides necessary instructions for

performing the current job efficiently. Training differs from education and development.

Imparting of training to the employees has become very much important in modern times

for better performance of the job. Here it can be said that the question of training does not

arise but making choice of the method of training arise.

3.4.2 EMPLOYEE TRAINING METHOD OF IFIC

After successful selection process they start there own strategy to make a very effective

man power. They have divided there training and development process in the following

sections. All this training are arranged and taken by support and development segment.

1. Service mind set

2. Service based training

3. Value added service based training

4. Computer skill

3.4.3 TYPES OF TRAINING PROGRAMS

For fresher, foundation courses on elementary knowledge of banking are organized.

Specialized courses on the area like credit, foreign exchange, accounts, inspection and

marketing etc. are meant for officials working in those areas. Higher level courses are run

on specific knowledge area. Certain courses are a blend of different knowledge areas. In

addition, certain priority programmers are also being conducted by the academy. These

include programs on Basel-II Accord, Productivity Improvement, Money Laundering

Prevention, new skills required to perform new jobs.

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CONCEPTUAL FRAME OF

TRAINING PROGRAMMES

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MANAGEMENTWORKSHOPS

EXECUTIVE DEVELOPMENT PROGRAMMES

ADVANCE COURSES

SPECIALISED

COURSESON

SPECIALISEDCOURSES ON

FOREIGN EXCHANGE

COURSE ON

MARKETING

FOLLOW-UPAND

EVALUATION COURSES

FOUNDATION COURSE FOR

PROBATIONARYOFFICERS

FOUNDATION COURSE FOR

OFFICERS GRADE- II

BASIC COURSE FOR

CASH/COMPUTER OFFICERS

INDUCTION COURSE FOR

OTHER EMPLOYEES

EXECUTIVE DEVELOPMENT PROGRAMMES

MANAGER’S CONFERENCE

TOP LEVEL

SENIOR LEVEL

MID LEVEL

JUNIOR LEVEL

3.4.4 APPROACHS TO TEACHING

The academy holds need-based training courses/workshop/seminars etc. which are

finalized by Training & Research Division in constantly with various department and

senior executives at Head Office. Training inputs are constantly reviewed / modified for

achieving the bank’s objective. Methods in training include: discussion/

lecture/workshop/case study/games/ role play/ film show/ simulation/group work &

Presentation/ project visit and so on.

3.4.5 ON-THE-JOB TEACHING

Foundation courses have two parts: theoretical training in the academy and job rotation.

The officers on probation are required to undergo both in a period of one year. During

this period, three-phased training programs are effective. On theoretical training say,

general banking, the officers are required to undergo rotation in general banking activities

under the supervision of HRD. Similar process is followed in case of CRM & Foreign

Exchange.

3.4.6 THE ACADEMY OF IFIC

At the very beginning the bank laid a foundation by setting up an academy at Head Office

under Human Resource Development Division to human resource internally. Equipped

with a professional library, modern training aids, knowledgeable faculty and other

facilities, the academy of the bank had been a leading one among the banks on private

sector.

The academy regularly conducts foundation course, specialized courses and seminars in

different areas of banking to take care of the professional banking needs. In addition,

officers are regularly sent to Bangladesh Institute of Bank Management (BIBM) and

Bangladesh Bank Training Institute (BBTA) for professional training. Sending officers

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abroad for higher training is regular feature. A research department also works in aid of

HRD operational areas.

In the year 2008, the academy has conducted 31 programmers (including training,

workshop and seminar) where a total number of 1059 Executives and Officers attended.

Besides, 56 Executives and Officers for BIBM training, 13 Executives and officers sent

for BBTA training and 7 Executives and officers were sent abroad for foreign training.

ACADEMY OBJECTIVES OF IFIC

IFIC Bank Academy, establish in 1983 as an in-house training institution, takes care of

the training need of the employee of the bank. The objectives of the Academy are to:

Make available skilled and dedicated workforce within shortest possible time by

reducing time required for on the job training.

Develop understanding about law and practice of banking through foundation

training.

Impart technical skill to the operation level officers through case studies/practical

exercises/ demonstration/project visit for efficient desk operation.

Develop analytical & decision making skills of the officers.

Develop understanding about human/conceptual skill and organization culture.

Impart managerial skills to groom future executive and to keep existing

Executives up-to-date with national international environment.

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3.4.7 FACULTY

The academy has built up a pool of knowledgeable/competent trainer within the bank. In

addition to permanent and professional trainers, speakers are drawn from operational side

so that on the job experience may be exchange and shared. Over and above, speakers

from Central Bank, professional training institutions, universities, research organizations

and Govt. organizations are also invited to share views and experience. Senior and retied

bankers are also regularly to enhance effective of training.

3.4.8 LIBRARY

The academy has a good collection of books, journals and magazines. The books are

mainly on subjects like banking, economics, accounting, management and marketing etc.

As on December 31, 2008 the library had 5,653 books/titles. The books are issued t the

employees usually for one month

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3.5 Analysis of the survey

As we found that, the analysis shows the maximum employee gives their decision with

strongly agree so we can say or give my comments that it is a good organization.

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Strongly Agree 60%

Disagree 5%

Neutral 5%

Agree 30%

Strongly Disagree 0%

3.6 SWOT ANALYSIS OF IFIC BANK LIMITED

SWOT means overall evaluation of an organization by its activities such as, Strength,

Weakness, Opportunity, Threat, now I am going to discuss about IFIC BANK LIMITED

Strength: There is much Strength in this organization from my point of view, though much strength

but I would like to discuss such type of entireties:

IFIC BANK LIMITED is the 1st private generation Bank in banking environment in

Bangladesh & it provides customer satisfaction within 25 years. Now there are 75

Numbers of Branches in six division .There are 2251 numbers of employees allover the

country & contribute of our economy by their hard and soul working, on the other hand

35% share of Govt.

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Strength

1st Generation Bank 75 Numbers of Branches Work force Number 2251

35% of Govt. shares

Weakness:In my case study, I gathered some weakness in this organization which is very essential

to overcome for this organization, such as

From my point of view there are many weakness in this organization .paid up capital is

not accurate in the rule of Bangladesh Bank .IFIC Bank Limited has 164.00 million

instead of 200 million. Newcomer online system, for this reason they are not totally

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Employee turnover

tendency high

Marketing Policy

Insufficient of paid up capital

Most of the employees are not adapted in

online Banking

Lack of ATM

New comers in on Banking

Weakness

adapted in online Banking ATM Booth is not all over the country, they have not enough

marketing team to advertising of their product line

Opportunity:

IFIC BANK LIMITED has a big network to capture the whole items of customer by its

aggressive product.

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Opportunity:

Big network through Branches

Market Capture through Branches

Aggressive product

Threat:

Bangladesh is a third world country & practicing a democracy policy by this policy Bank

are affected some hassles ,which is a big threat for a Bank .on the other hand Global

recession & Rising of new generation Bank ,New generation bank are provide highest

facilities for their customer which is a lack of the IFIC bank limited .

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Global Recession

Political system

Rising of new generation

Bank

Govt. interference

Violence

Threat

CHAPTER -4Findings, Suggestions & Conclusion

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4.1 FINDINGS OF IFIC BANK

While working at corporate Mohakali Branch, I have gained a newer kind of experience.

After collecting and analysis data I have got some idea of the IFIC bank. This idea

completely from my personal viewpoint, which is given below:

Corporate Branch, IFIC Bank Limited is well-operated branch with its strong

brand image.

IFIC Bank has big impact upon its human resource development and manage

mental.

IFIC Bank‘s structure influences personnel activities within the department as

well as relation within others whom it is to serve.

Top Management set up the target of profit for every branch depending of the

volume of the branch position and level.

They face troubles with those clients who have not any knowledge in banking

transactions and banking rules.

From the clients view introducer is one of the problems to open an account. It is

general problem to all Private commercial bank.

IFIC Bank has recruited high skilled employees to filling its lower and mid level

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position.

IFIC Bank has proper training arrangement of employees.

IFIC Bank has new technology for proper training.

Clients generally complain that rate of interest for various type of credit is quite

high. In many cases productivity from loaned investment is inadequate that

borrower become incapable in repaying loan.

one problem is that bank always follows the policy of risk averse in the world

today all the organization are moving in approach of risk taking. As a result it is

facing some problems and also facing competition from other bank.

The recovery of capital in small business loan section is threatened.

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4.3 SUGGESTIONS

It has a large portfolio with huge asset to meet up its liabilities and the management of this

bank is accomplished with the expert bankers and managers in all level of management

and with a little knowledge about banking, it is not an easy job to find out the difficulties

of this branch. Rather than recommending I would like to give my opinion to improve the

banking service and make the customer more satisfied.

I. Renovation of customer service

Since a number of new banks are coming to existence with their extended customer

service pattern in a completely competitive manner. Customer services must be made

dynamic and prompt. Now a days, people especially business people have very little time

to waste. So the bank should make its service prompt so that people need not give more

time in the banking activities.

II. Providing more industrial loans

It seemed to me that the bank having a large amount of deposit is not simply encouraging

the large scale of producers that is this bank is not providing that much of long term

industrial loans to accelerate the economy as well as to help the economy to solve

unemployment problem.

III. Speed up Processing of loan application

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If loan-processing time is lengthy, it will not get good borrower. Most of this time is spent

for correspondence between Head Office and Branch. So the branch should speed up its

loan processing time. For reducing loan-processing time, branch manager should be given

more power to sanction loan. This power can eliminate the time. Branch should have

independent appraiser for appraising term loan proposal.

IV. Bank should be innovative and diversified in its services

This branch provides only conventional services. Modern banking today is introducing

various kinds of deposit account with different attractive features each of which may

attract different groups of people. For example, Saving Certifcate Scheme introduced by

Islami Bank is one of its unique services in the banking in Bangladesh. Even the bank does

not provide any ‘Customer Loan’ facility, which has been found very much profitable for

those banks who have introduced it in their banking services.

Bank should diversify its banking services and add new features in its services so that it

can attract customers from all groups of people. Financial Engineers of IFIC Bank should

be innovative in developing new banking services, which will attract customers and reduce

costs. It can introduce customer loan scheme, provide bridge loan, or can engage in lease

financing. It can also underwrite shares of newly incorporated public companies.

V. Bank should immediately enter into the credit card market

This bank does not have any plan to enter into the Credit Card Market. It is well versed

that tomorrow’s payment will be consisted of only plastic money (Credit Card). A large

part of business transaction will be done by credit card in near future. In western world,

more than 50% of transactions are in credit card. If this bank does not prepare from now

on, it cannot compete in the future market. So, the branch should give special attention to

the introduction of Credit Card.

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VI. Introduce modern technologyWithout using modern technology no bank can even think of remaining in the business in

near future. So the bank must decide right now how it can equip its branches with modern

technology. Use of modern technology in one sense can increase cost but another sense it

increases productivity highly and it attract big clients. It can introduce ATM services is

branch. Use of automatic machine like cash counter machine, ATM brings speed in

banking services.

VII. Information System should be developed

For information transfer, branch uses primitive ways of telex, messenger and personal

visit. It makes correspondence with the head office by peon or orderly. For international

correspondence the branch uses telex machine, which is very costly. And in the branch,

manager has to visit specific desk for collecting information. Paper communication is too

involved between manager and employees. But branch can use INTERNET for both local

and international correspondence. E–mail can reduce the telex cost substantially. Bank

should take urgent decision to create own WEB Page in INTERNET so that it can

communicate with others very quickly.

VIII. Development of human resources

Human resource is another sector for the branch to be developed urgently. Human

resources, in the branch, are not equipped with adequate banking knowledge. Majority of

the human resources are lack of basic knowledge regarding money, banking finance and

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accounting. Without proper knowledge in these subjects, efficiency cannot be optimized.

Bank can arrange training program on these subjects.

IX. Reduce classified loan on an emergency basis

It is observed in the Loans and Advances department that classified loan is about to 36%

of the total loan portfolio. Such a big share of classified loan indicates weakness in the

lending policy of branch. Probably bank’s customer selection process is not right. Bank

should take special action in order to reduce the amount of classified loan. Although

branch is maintaining the required provision for its classified loan, branch should consider

recovering classified loan on an emergency basis. For this bank should motivate the

defaulter for repaying. If motivation failed, then bank should be stringent about the

defaulter and take legal action.

X. Bank should remove the time card system

The oddest thing in this bank is that it maintains a time card system to maintain the

attendance of the employee including manager of the branch. It is definitely effective

system but it is simply used to record the work hour of the labors in any manufacturing

concern in the western countries to make their payment effectively those who are hourly

basis worker. This system cannot be employed to the high officials like Manger of the

branch etc. this creates an inferior impact on the mind of the employees that they are ill

treated which decrease their service providing quality.

XI. Bank must try to be computerized

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There are computers almost in every branch in the IFIC Bank, but it does not mean that the

bank is maintaining a network among them. The networking system obviously charges a

high installation cost, but it will definitely reduce the overhead costs and an error free

banking may be in progress. Moreover by adopting this system the bank can join in

modern competition of along with e-commerce concept.

4.4 Conclusion

There are a number of Private Commercial Banks, Nationalized Commercial Banks and

foreign Banks operating their activities in Bangladesh. The IFIC Bank Ltd. is one of

them. For the future planning and the successful operation for achieving its prime goal in

this current competitive environment this report can be helpful guideline.

From the practical point of view I can declare boldly that I really have enjoyed my

Internship Report on Training and development of IFIC Bank Ltd, from the first day.

Moreover, Internship Report that is mandatory to complete my BBA program, although it

is obviously helpful for my career building.

In the last decade there has been a revolution in the communication media through the

introduction of internet and other forms of secure dial-up media. This had an immense

impact on all the sectors of the industry specially the banking sector. The number of

banks is increasing day by day because the demand of the customer for the banking

service is high .as a result there is a highly competitive situation in the banking sector and

people have many option incase of taking banking services .As a central bank of

Bangladesh The Bangladesh Bank always adopting measures for putting banking

institution on right track and also monitors the activities of these banks to prevent from

doing illegal activities.

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To compete in the environment of advancing technology and faster communication the

IFIC should depend more heavily on the quality service and information technology. No

doubt about it that IFIC achieve superior position in our banking industry but to cope

with customer IFIC should think how to make it services proactive. To compete with

other bank’s operation in Bangladesh, IFIC should introduce easier way for faster

processing of credit analysis.

Banks always contribute towards the economic development of a country. Compared

with other Banks IFIC Bank Ltd is contributing more by investing most of its funds in

fruitful projects leading to increase in production of the country. It is obvious that right

channel of Banking establish a successful network over the country and increases

resources; will be able to play a considerable role in the portfolio of development in

developing country like ours.

IFIC Bank Ltd playing its leading role in socio-economic development of the country.

Since inception IFIC Bank Ltd has been rendering its Banking services with the needs of

the nation to cope with the demands of people in the country. By doing many other works

for state & society, IFIC Bank Ltd has emerged as the pioneer of playing key role in the

country.

As a leading bank of Bangladesh, IFIC contributes in the business with promising future.

I can hope that IFIC can spread their business with increasing various scheme and other

utility services.

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Bibliography

Books:

Smigel, L. M. (2000). Basic Training for New Managers, Delhi: Replika Press Pvt Ltd.

Noe, R. A. (2005). Employee Training and development, New York: McGraw-Hill.

Jackson, S. & Schuler R. (2006). Managing Human Resources: A Partnership Perspective, South-Western Publishing.

Bank Publications:

Annual Reports of IFIC year 2007

Annual Reports of IFIC year 2008

Credit Risk Grading Policies of IFIC

CRG Chart provided by Bangladesh Bank

IFIC General Banking Policy Book

IFIC Foreign-Exchange Banking policy guideline

Academic Training & Research Division Report of IFIC Bank.

Website:

www.ificbank.comwww.bangladeshbank-bd.orgwww.wikipedia.cohttp://en.wikipedia.org/wiki/List_of_banks_in_Bangladesh

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Appendix

Questionnaire

SECTION: A

Name:

Designation:

Gender:

Your highest level of education: (please tick one)

1. SSC

2. HSC

3. Bachelors

4. Masters

5. Others (please specify)

SECTION: B

Complete the following questionnaire by filling the answer that best describes your

feelings about each statement. For each item, put your response according to the

following.

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A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

QUESTIONS

1. Employee training and development is a part of organization development.

A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

2. Employee training is an essential part of an organization.

A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

3. Training and development is part of organization’s target to achieve a goal.

A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

4. Training program is very essential to support the employee career development of

IFIC.

A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

5. IFIC has a good training environment for their employee.

A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

6. IFIC looking for employee development as long run. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

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7. Employee training and development expenditure is one of organization investment A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

8. The relation between top level, mid level and lower level is important to achieve organization’s goal. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

9. IFIC maintain all Employee Act as well for justify employee’s facilities given. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

10. IFIC use useful method for training. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

11. Top level management evaluates the training performance of the Employees. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

12. IFIC understand the training needs for new employee. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

13. IFIC arrange training program frequently. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

14. Training methods are understandable for employee.

A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

15. Employee is performing well after received training.

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A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

16. Employee has opportunities to develop their skills. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

17. IFIC also arrange cross training programs. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

18. Customers are satisfied about your banking services. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

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