One Stop Service:
If some one is unhappy about how they are treated, they will tell 11 (eleven) other people. This is how we can lose business. When some one has received excellent customer service, they will generally tell 3 or 4 other people, this is how we can grow our business. Therefore to achieve higher customer service, One Stop Service has been introduced in CBL.
One Stop Service is basically a customer-oriented service aimed at providing prompt & accurate services form one point without moving from one point to another. In this process, the customer deposits or gets payment of his cheque form one point standing in a queue and need not to move to different point for getting the process end.
Current Functions of CBL:
a) Description of Services Offered by CBL: The Services offered by CBL are discussed below:
1. Service of CBL
The CBL concentrates the following categories of banking services:
Loans and Advances
International Trade and Foreign Exchange
Online Banking Services
Debit Card and Duel Currency Credit Card Facilities
2. Retail Banking
One of the most remarkable success stories of last 50 years Banking Industry globally has been the conceptualization and innovative execution of banking with individual customers, their friends and families. The industry has termed it as Retail Banking or Personal Banking or Consumer Banking. The City Bank limited recently started its journey in Retail Banking. More than 700 staffs have been trained so far on the vital concepts of service excellence and sales. In the product side ATM fleet has been launched, Debit card has been issued, SMS Banking has been offered, 3 new deposit product have come up and our communications in media has been increased, manifold in the endeavor to build a Retail Banking brand namely “City Retail Happiness Counts”. Retail Banking includes:
3. SME Banking:
Considering the potential growth and demand situation the City Bank Limited has extended credit facilities to small and medium enterprises through SME Banking in the year 2006 and 2007. A separate division has established in the Head Office with collaboration of all branches to process and handle loans under SME for attaining a respectable market share and successful operation of the scheme. The Bank has organized several training program for development of adequate human resources.
Following services are provided by SME Banking
In the year 2007, major initiatives have been taken to re-launch SME Banking. Organization and processes are being restructured with focus to enhance business. SME asset size in 2007 went up to BDT 2,000 million and the number of borrowers in SME was 3,000.The bank ha s also taken measures to provide complete banking solution to SME by devising both cash and non-cash based product appropriate and fit to support the requirements of the concerned business. Small enterprise will have a better opportunity to avail PPG based funded product. The needs of medium sized enterprises are also being fulfilled through multiple products offering in the conventional manner. The City Bank SME recently launched “City Nokshi”. “City Nokshi” is a 10 percent rate per annum as per the guidelines of Bangladesh Bank and is available only for the women entrepreneur of the country.
4. Corporate and Investment Banking:
As part of its commitment to provide global quality service. The City Bank Ltd, one of the largest local Banks, has launched its Corporate & Investment Banking Division recently. This shift , from branch banking model to business driven matrix, is the first step of the banks plan to revitalize its way of doing business in 2008. The C&I Division will comprise of a number of relationship teams centered in Dhaka and Chittagong to provide who will act as one stop contact point for the customers of the bank. This model has been successfully globally to provide better service and create increased customer satisfaction. The relationship teams have been staffed mainly through internal quality resources. The C& I relationship teams have already taken over the existing large accounts and servicing the customers to their satisfaction. Total new booking in last few months is more than BDT 3,000 million. The C&I Division will also have product teams i.e. structured finance, Islamic finance, Leasing, Cash management who will meet the specialized product needs of the corporate customers. The time ahead is going to be very challenging for C&I. The major challenges shall be to increase the quality of the portfolio keeping in mind the business targets for the year 2009 and also ensure quality services in this transaction phases with timely formation and support from other departments i.e. centralized credit administration, operations.
Following services are provide by Corporate Banking:
Working Capital Finance
5. Duel Currency Credit Card:
Today’s customer wants services and information to be provided at all times and places. This has become possible by ATMs and POS terminals and helped banks in achieving “Anytime, Anywhere Banking”. Therefore there is a need for an automated system that will connect the branches through online to provide better services to the customers. The most modern technology based bank product for making hassle free financial transactions and drawing of cash money all over the world is given by Credit Card. The City Bank Ltd is the first among domestic banks to introduce a unique dual currency CITY CARD under the logo of VISA International in Bangladesh. After obtaining principle membership of VISA on 19th February, 2003 the bank is pleasing its commitment to be leader as card issuer in the arena. Tremendous responses are there from the market for this plastic money. Up to March, 2008 the number of CITYCARD is 10,215.
6. Computerization and Online Service:
With computerization the bank had gone another step ahead towards providing pragmatic, safe and prompt banking services. All 84 branches including Islamic Banking Branch are brought under computerized net. Bank has implemented online real time banking through an agreement with Info sys Technologies Limited for supply of world reputed banking software “FINACLE”. Within March, 2008 real time banking facilities have been introduced in 37 branches of CBL. Under this system, client will be able to do the following type of transactions:
Easy to withdraw or deposit from any online branch
Fund transfer with one click, no need TT/DD
Customer can easily tell which payments have cleared.
7. Islamic Banking:
The City Bank Limited started its Islamic Banking operation by opening its first Islamic Banking Branch at 9/H, Motijheel, Dhaka. Islamic Banking Branch has just completed 4 year of its operation. In the year 2007 the branch has closed various deals under Islamic Finance operation. In 2007, branch’s investment portfolio reached was TK. 648 million with overall client base of about 3,500 customers. Operating profit of the branch posted TK. 50 million in 2007 compared to TK. 40 million in 2006. Islamic Branch is also rendering sales and service to a good number of broker houses including DSE’s central trade account in the capital market. The salient features of Islamic Banking are as follows:
To conduct all its activities as per Islamic Shariah
To conduct its monetary matters free of interest
To establish banker-customer relationship on the basis of partnership
To follow Islamic principle in all its investment port-folio
To develop living standard of the poor incoming group
To render excellent services to the clients cordially
To conduct welfare related activities to the people.
8. SWIFT Banking (Since 2000):
The City Bank Ltd. is one of the first few Bangladeshi Bank who has become member of SWIFT (Society for Worldwide Inter-Bank Financial Telecommunication) in 1983. SWIFT is members owned co-operative, which provides a fast and accurate communication network for financial transactions such as letters of Credit, Fund transfer etc. By becoming a member of SWIFT, the bank has opened up possibilities for uninterrupted connectivity with over 5,700 user institution in 150 countries around the world.
9. SMS Banking:
City SMS gives you 24-hour access to the key financial information of our customersCity Bank Account. It is the simplest way of finding out customers account’s daily / month – end balance. With City SMS , a customer neither have to wait for his or her statement to arrive through mail nor have to make a phone call at branches to inquire about his or her balances and last few transactions. Once a customer becomes a member of SMS banking, he or she will enjoy 24-hour access it the key financial information.
Through City SMS Banking you will be able to access his or her account information like balance; transaction and a range of other financial information by typing a presently following functionality are available through City SMS Banking
Sources: Bank’s website – http:/click.thecitybank.com/sms.htm
10. Corporate Governance:
The bank recognizes the importance of Corporate Governance and is committed to maintain highest standard. A team of experienced professionals maintains the following committees to run the Bank efficiently:
Administration and Disciplinary Action Authority
Technical and Audit Authority
Procurement and purchase Committee
Asset and liability Committee
11. Training Program:
The City Bank Limited has launched a huge training program for its staff as part of its restructuring plan. So far, 774 staffs have received training on Customer Service and face to Face Sales; 65 staff received training on departmental operating Instructions and 268 staff received training on Orientation to Credit. Apart from these regular training are going on with BBIM, BIM, and CRISL etc. City Bank Management gives top priority to its peoples leasing and development issues. That’s why the current training project of City Bank is given a name “Learning & Development making the winning moves”.