SWOT analysis, is a strategic planning tool to evaluate the Strengths, Weaknesses, Opportunities and Threats involved in a project or in a business venture. It involves specifying the objective of the project or business venture and identifying the internal and external factors that are favorable and unfavorable to achieve the objectives. The aim of the SWOT analysis is to identify the key internal factors (strengths, weaknesses) which are controllable and external factors (opportunities, threats) which are uncontrollable.
Strengths are attributes of the organization that are helpful to achieve the organizational objectives. Strength of the credit department of Bangladesh Krishi Bank, Local Principal Office are as follows:
- Strictly follow ethical banking practices.
- Bank have many attractive deposit schemes.
- Provide speedy customer service at a very competitive cost.
- Deal with customers in a transparent manner and without any hidden cost.
- Maintain strict secrecy of customer account.
- Deal quickly with complaints received from customers.
- There is no discrimination on grounds of religion, sex or race at any stage.
Weaknesses are attributes of the organization that are harmful of to achieve the organization’s objectives. Some weaknesses of the credit department of Bangladesh Krishi Bank, Local Principal Office are as follows:
- The management of this Branch says that they conduct interest-free banking but in actual the Branch has not abolished interest. They only changed the nomenclature of their transactions.
- It has not yet been successful in devising an interest-free mechanism to place their funds.
- According to the Bangladesh Bank guidelines the spread between the FDR rate and loan against FDR rate should not more than 3%. But the bank some times charge more than that spread rate for loan.
- BKB, ID Branch do not have the necessary expertise and trained manpower to appraise, monitor, evaluate and audit the projects they are required to finance.
- Higher interest rate in case of consumer loan.
- Guidelines provided by Bangladesh Bank do not followed properly.
- Lack of online banking.
Internal conditions those are helpful to achieve organization’s objectives. Some opportunities of the credit department of Bangladesh Krishi Bank are as follows:
- The population of Bangladesh is continuously increasing at a rate of 7.3% per annum. The country’s growing population is gradually and increasingly learning to adaptation of consumer finance. Lower interest rate for financing consumer can attract a large number of consumers.
- As Sylhet started its journey as MetropolitanCity that is why there is a huge opportunity of industrial advance.
External factor can work as barrier to achieve the organization objectives. Some threats of Bangladesh Krishi Bank are as follows.
- Numbers of domestic private banks and foreign banks are increasing day by day which are providing efficient modern services and they continuously innovating new product.
- Foreign banks are occupying markets by various attractive advertising and promotional activities.
- Restless political condition in Bangladesh becomes a serious threat for Banks.
- Current law and order situation is not positive for the investment part.
- Pessimistic representation to the government and Bangladesh Bank.
During the three months internship program at BKB. almost all the desks have been observed more or less. This internship program, in first, has been arranged for gaining knowledge of practical banking and to compare this practical knowledge with theoretical knowledge.
General Banking is the starting point of all the banking operations. It is the department, which provides day-to-day services to the customers. General Banking department provides these services in a faster and better manner.