A Summary of IFIC Bank:
IFIC Bank Ltd. is one of those banks that plays important role in the economy of Bangladesh. There is Seventy six Branch of IFIC Bank all over the country. The activities of the branches are more or less same but there are some differences as per the size of the branches. As I was placed to Banani Branch of IFIC Bank as an intern, my focus of the report will be basically on the functions of Banani branch only.
Basically IFIC Bank, Banani Branch always tries to be the right partner for its customers. IFIC Bank is to provide service to their 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 individuals that we care for.
(1.2) Objective of the Report:
The primary objective of this report is to use the theoretical concepts in analyzing real life of Practical Orientation in Banking activities, which is a partial requirement of the BBA program. But the objective behind this study is something broader. The broad objectives of this report are summarized in the following, manner:
To present an overview of IFIC Bank.
To make an appraisal of customer service of this Bank.
To highlight the activities and operations.
To find out the customer needs
To find out the customer problems.
To make a comparison of service quality with other commercial banks.
To meet the terms with the entire branch banking procedures.
To scrutinize the performance of the branch as well as IFIC Bank Ltd. as a whole.
To gain practical experiences and view the application of theoretical knowledge in the real life.
(1.3) Scopes and Methodology:
The scope of the report is the evaluation of the performance of customer service of IFIC bank where I have undertaken my internship program. This report helps me to understand the clear real-time experience about the total management of IFIC Bank Ltd. It helps me to understand, how the bank manage its total process? It also helps me to understand how they deal with the customer.
This report has been prepared on the basis of experience gathered during the period of internship from 30th April to 6th August. Within this period I visited two department namely General Banking and Loans & Advances departments. There were twenty customers who have helped me by answering my questionnaire. I was lucky because I got very friendly customers and officers to collect data about my report during my internship program and I am really very grateful to them for their tireless cooperation to me.
(1.4) Research design and sources:
The internship program was fully completed in a very efficient and effective business environment. The internship was conducted on 30th April to 10th August 2009 through different published papers and questionnaire session with the customers and officers of the branch.
Basically the required data are being collected from primary and secondary sources. For the primary session I had to go through with questionnaire to the customers and for the secondary information I had to collect banks published materials.
Primary data is collected from:
Open ended and close ended questions.
Personal experience gained by visiting, different desks.
Personal investigation with bankers.
Face to face communication with employees of the IFIC Bank Ltd.
Secondary data is collected from:
Annual reports of IFIC.
Previous performance matters booklet.
Journals of the Bank.
Different books, training papers, manuals etc. related to the topic.
Official Website of the Bank.
Sample size- the sample size is n=
n= sample size
z2= Confidence level
e2= estimated error
p= the estimated proportion is present in the population.
n = = 68.08= 68
Z= 1.64 from Z table, e= 10% error, p= .05 q= 1-p
(1.5) Limitations of the report:
1. Workload was a great barrier to prepare this report.
2. Self observation was highly required because the officers of this bank couldn’t help though they are being always very busy with customers. Even though they tried a lot to help me in the rush hour and whenever they become quite free.
3. The duration was very short to prepare a better report. But I tried with my level best to prepare this report as better as could be.
4. Due to lack of previous job experience there might have some shortage of proper information but through maximum efforts I tried to avoid any short of mistakes.
5. One of the major limitations is the shortage of internship period. Since three month is not enough to know everything of a Bank.
6. The report is based on only Banani branch and that might not make an overall clear customer service quality and other activities of the IFIC bank.
More part of this Report-