PART 1: Organization part

v STANDARD CHARTERED BANK: AN OVERVIEW:

Standard Chartered Bank (SCB) PLC is an international bank group that is incorporated in the UK with its Headquarters at 1 Alderman buries Square, London. The group operations are mainly concentrated in Asia, Africa and the Middle East and its operation is segmented under six regions: LTK, Europe, Middle East, South Asia, South East Asia and the USA. Globally, the SCB group owns an array of key resources that include:

A network of 600 offices in more than 50 countries

A staff of about 28000 people managing assets worth 47.65 billion

At the global level, SCB operates with some key strategies that are quite unique to other banks such as:

To build and grow strong businesses in Middle East, South Asia and

Far East Asia:

Capitalize on the good track record created by its more than 150 years of operations in these regions by building unique position and image among the target  customer segment and being responsive the needs and serve the needs better than the competitors.

v HISTORY OF STANDARD CHARTERED BANK IN BRIEF:

SCB has a history of more than 150 years. The name “Standard” stems from the two original banks from which it was founded-“Chartered Bank” of India, Australia and China and “Standard Bank” of British South Africa.

Chartered bank was established in 1853 by a Royal Charter granted by Queen Victoria of England. The main person behind the Chartered Bank was a Scot, James Wilson who had also started “The Economist” still one of the most eminent publications today. He foresaw the advantages of financing the growing trade links with the areas in the East, where no other financial institution was present that time widely.

• Expansion in Africa and Asia:

The Standard Bank opened for business in Port Elizabeth, South Africa, in 1863. It pursued a policy of expansion and soon amalgamated with several other banks including the Commercial Bank of Port Elizabeth, the Coles berg Bank, the British Kaffarian Bank and the Fauresmith Bank. The Standard Bank was prominent in the financing and development of the diamond fields of Kimberly in 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Over time, half the output of the second largest goldfield in the world passed through the Standard Bank on its way to London.

• The Impact of War:

Even the First World War offered opportunities for expansion when the Standard Bank set up a branch in Tanzania shortly after British troops occupied the formerly German administered Dares Salaam in September 1916. Both banks survived the inter-war years but the world trade slump led to the closure of operations in the Canary Islands, Liberia, the Netherlands, and Equatorial Guinea. Disaster struck the Chartered Bank’s office in Yokohama, Japan, when it was destroyed by an earthquake in 1923 killing a number of staff. The Chartered Bank was particularly affected by the Second World War when numerous Asian countries were occupied by Japan.

The Post War Years:

After the Second World War many countries in Asia and Africa gained their independence. This led to local incorporation in some countries, particularly in Africa. Other operations such as those in Iraq, Angola, Myanmar and Libya were nationalized, while in Indonesia the Jakarta office was destroyed in an attempted coup d’etat. In 1948 the Chartered Bank opened in Bangladesh and during 1957 it acquired the Eastern Bank. The Eastern Bank gave the Chartered Bank a network of branches including Aden, Bahrain, Beirut, Cyprus, Lebanon, Qatar and the United Arab Emirates. The Chartered Bank also entered into a joint venture to form the Irano-British Bank which opened for business in 1959. The bank grew rapidly and had 24 branches when it was nationalized in 1981. s radically changed and strengthened.

q  Standard Chartered in the 1990s:

Even within this period of apparent retrenchment Standard Chartered expanded its network, re-opening in Vietnam in 1990, Cambodia and Iran in 1992, Tanzania in 1993 and Myanmar in 1995. With the opening of branches in Macau and Taiwan in 1983 and 1985 plus a representative office in Laos (1996), Standard Chartered now has an office in every country in the Asia Pacific Region with the exception of North Korea. In 1998 Standard Chartered concluded the purchase of a controlling interest in Banco Exterior de Los Andes (Extebandes), an Andean Region bank involved primarily in trade finance.

Standard Chartered in Middle East & South Asia (MESA):

The MESA region performed well in year 2002. The region accounts for approximately eleven percent of the group’s revenues.

The integration of Grindlays was successfully completed and the group is now one of the leading international banks in each of its chosen markets in the region. The contribution of the Group’s business in the United Arab Emirates reflects the businesses. Standard Chartered now holds leadership positions in most of its key product segments in the UAE. The average number of employees in the Middle East and other South Asia region in 2002 was 2995.

Standard Chartered in Hong Kong:

Hong Kong remains the Group’s largest market, generating one third of the Group’s revenue. They have a network of 74 branches. Standard Chartered has been transacting business in Hong Kong since 1858 and they issue bank notes there. In 2002, Standard Chartered became the first FTSE 100 Company to launch a new dual primary listing in Hong Kong. This will make the Group more accessible to Asian investors and will enhance the Group’s regional profile. The average number of employees in Hong Kong in 2002 was 4,677.

Standard Chartered in Singapore:

Standard Chartered has been doing business in Singapore for 144 years and has 20 branches and offices, the largest branch network among foreign banks. The business in Singapore accounts for approximately eleven percent of the Group’s revenues. Standard Chartered has Qualifying Full Bank Status, which has enabled expansion of the distribution network. In 2002, Asian banker magazine named Standard Chartered the ‘Best Retail Bank in Singapore’. The average number of employees in Singapore in 2002 was 2,451.

Standard Chartered in Malaysia:

Standard Chartered is the oldest bank in Malaysia, where there is a network of 29 branches. Malaysia is another of the group’s core markets with broadly based business as a result of long established franchises. The group continues to expand its Shared Service Center that was opened in 2001 and carries out operations and processing activity. The Centre in Kuala Lumpur has contributed significantly to improvements in the Group’s processing and service efficiency.

Standard Chartered in other Asia Pacific:

The group has more than 80 branches and 14 offices in 14 countries across the region. In China, Standard Chartered has one of the largest branch networks of any foreign bank and is well positioned for growth and opportunities. The group is developing its Consumer Banking business and has opened branches in Shanghai and Shenzhen. In Thailand, the integration of Nakornthon Bank was successfully completed in 2002.The average number of employees in other Asia Pacific in 2002 is 4851.

Standard Chartered in India Region:

Standard Chartered is the largest international bank in India and, following successful completion of the integration of Grindlays, have a combined customer base of 2.4 million in Consumer Banking and over 1200 corporate customers in Wholesale Banking. The group launched its business in Mauritius in 2002 to provide Wholesale Banking services to corporate client’s .The shared service centre in Chennai continues to develop rapidly as more services and processes are migrated from other countries. The average number of employees in the India region in 2002 was 5251.

Standard Chartered in Africa:

Standard Chartered continues to be one of the leading banks in sub Saharan Africa. The group offers consumer banking and wholesale banking services in 13 African countries with a network of 149 branches and offices. Standard Chartered recently launched operations in the Ivory Coast and re-entered Nigeria. Business in East Africa has performed well. Despite difficulties in Zimbabwe, the group’s business in Africa has delivered good results. The average number of employees in 2002 was 5009.

Standard Chartered in United Kingdom and the Americas:

Businesses in the United Kingdom and the Americas provide services to leading multinationals and major financial institutions, which trade or invest in Asia, Africa, the Middle East and Latin America. In 2003, the businesses in the Americans were extensively restructured to improve efficiency for future growth. The Group also operates a growing off shore banking business based in Jersey. The average number of employee in the United Kingdom and Americas in 2002 was 2098.

The Acquisition of ANZ Grindlays by Standard Chartered:

The main idea behind acquisition and merger is making an investment and usually involves more than mere cash. When two separate legal entities merge every organization aspect of both companies are expected to change be it internal or external. Such management decision is taken for a variety of reasons but the ultimate aim is to add up to shareholder’s wealth. For banks operating in the consumer and wholesale banking sector, earning depends largely on the interest margin as well as the service charges.

Standard Chartered Bank in Banglades:

The Chartered Bank started operating in Bangladesh in 1948, opening a branch in Chittagong.  The branch was opened mainly to facilitate the post-war reestablishment and expansion of South and Southeast Asia.  The Chartered Bank opened another branch in Dhaka in 1966, where it is still headquartered. After the merger of the Chartered Bank with the Standard Bank in 1969, the Standard Chartered Bank took up a program of expansion.  It increasingly invested in people; technology and premises as its business grew in relation to the country’s economy.  In 1993, there was an organizational re-structuring, which led to a substantial expansion of the Bank’s business.  Today the bank has in total four branches in Dhaka apart from the Chittagong branch, including an offshore branch at the Savar Export Processing Zone.

The Organization Structure:

The Standard Chartered Bank in Bangladesh has its headquarters and twenty one branches across the country. While the full range of services is available at the headquarters, other branches offer specific services appropriate for the location.  At the headquarters, the bank mainly consists of two divisions:

1. Business
2. Support

The business division has the following departments:

v  Corporate Banking Group (CBG)

v  Global Markets (GM)

v  Institutional Banking Group (IBG)

v  Consumer Banking (CB)

v  Custodial Services (CUS)

v  The Support division provides assistance to the above business activities and consists following departments:

v  Operations

v  Finance, Administration and Risk Management

v  Information Technology Center

v  Human Resource Department

v  Legal and Compliance

v  External Affairs

v  Credit

All the staff members of Standard Chartered Bank belong to an internal trade union known as “Standard Chartered Bank Employees Union” the clauses of which are reviewed and agreed upon every two years.

Chain of Command:

Chartered Bank in Bangladesh follows a hierarchical pattern of command. The Chief Executive Officer (CEO), David M. Fletcher reports to the Regional General Manager, MESA in Dubai.  All the department heads at the headquarters report to the CEO. In Chittagong, however, since there are two major business activities, a manager or senior manager, who reports directly to the head of the respective division in Dhaka, heads each. The Custodial Service division at the headquarters reports to the Head of Corporate Banking.

Chief Executive Officer’s Office:

Standard Chartered as well as Standard Chartered Bank in Bangladesh is headed by the Chief Executive Officer, who reports to the office of the Regional General Manager, Middle East and South Asia (MESA). While performing staff functions, the CEO is assisted by different heads whose functions are mentioned in the following section.

v  Head of Finance and Administration, who looks after the general ledger, budget, financial scenario of the bank, risk management administration and audit operation.

v  Head of Cards who supervises credit card operation.

v  Head of Consumer Banking, who supervises retail-banking operation like sales and services, retail lending, product development and product marketing.

v  Head of Corporate deals with the relationship management, corporate finance etc.

v  Head of Human Resources looks after succession planning, training and industrial matters.

v  Head of Lending Management assists the management division of Corporate, retail and Credit Cards in their lending operations.

v  Head of Global Markets deals with the foreign exchange, money market and asset liability operation.

v  Head of International Services deals with the trade finance, guarantee and correspondent banking.

v  Head of Operations looks after the support services in banking lending, CBS User, Treasury, SWIFT/TELEX operation etc. Head of Technology is directly accountable to him.

Management:

The goal of Standard Chartered Bank is to be the “Bankers of First Choice.” Towards that goal, the overall planning in the Organization is done at the headquarters level in Dhaka by a Management Committee (MANCO), headed by the CEO and consisting of the business heads of Corporate Banking, Consumer Banking, Treasury, and from the support divisions the heads of Human Resource, Operations and Finance Departments.  They meet once a month, or when a special situation arises, to plan the strategic decisions. The decision making, although apparently based on a top-down approach, leaves room for participation down to the level of department heads, which are responsible for carrying out the planning of their department within the broad guidelines set by MANCO.

Among the broad strategic objectives are:

v  Creating a congenial work environment

v  Modernization of the Management Information System to achieve full automation by drastically cutting down paper work in the long run.

v  Focusing on service quality and consumer needs.

v  Recruiting and maintaining top-grade, efficient employees.

v  To invest in those technological systems which will upgrade and enhance financial services, and

v  Creating an excellent brand image of the Bank.

v  Activities of Standard Chartered Bank

v  Corporate Banking Group

Standard Chartered Bank offers its local customers a wide variety of financial services. All the accounts of corporate clients, which mainly comprise the top local and multinational companies operating in Bangladesh, are assigned a Relationship manager who maintains regular and close contact to cater to their needs. The wide variety of lending needs are catered to with skilled and responsive attention

v  Project finance and investment consultancy

v  Syndicated loans

v  Bonds and Guarantees

v  Local and International Treasury products

v  The trade finance of Standard Chartered Bank takes care of the commercial activity related issues, particularly those related to import and export finance services.  Some of the services are:

v  Trade finance facilities including counseling, confirming export L/Cs and issuing of import L/Cs, backed by its international branch and correspondent loan network

v  Bond and Guarantees

v  Project finance opportunities for import substitution and export oriented project

v  Global Markets

Institutional Banking Group:

The IBG of Standard Chartered Bank offers a wide variety of products and services to the banks and financial institutions.  It has global links with leading banking institutions and agency arrangements through its network of offices in 40 countries.  The Bank offers a full range of clearing, payment collection and import-export handling services.  The bank offers foreign missions, voluntary organizations, consultants, airlines, shipping lines, and their personnel the following financial services:

v  Current accounts in both Taka and other major foreign currencies

v  Convertible Taka accounts (these funds are freely convertible to major international currencies)

v  Local and foreign currency remittances etc.

v  Consumer Banking

Superior retail banking services comprising a wide range of deposit and loan products are offered by the Standard Chartered Bank to its individual customers.  The Consumer Banking division constantly faces challenges and meets them by developing new products and services to fulfill the specific requirements of local TU Bank offers a 24-hour service in Bangladesh through its Moneylink ATM network and Phone-link Phone Banking services.

Products and Services of the Bank:

Standard Chartered Bank has highly qualified professional staff members who have the capability to manage and meet all the requirements of the bank.  Every account is assigned to an Account Manager who personally takes care of it and is available for discussion and inquiries, whether one writes, telephones or calls.  The services of the Bank are personalized and backed by advanced computerization.

The following paragraphs illustrate the essential products and services of the Bank:

The Corporate Banking Group

Cash management:

Standard Chartered is highly recognized as a leading cash management supplier across the emerging markets. Our Cash Management Services cover local and cross border payments, collections, information management, account services and liquidity management for both corporate and institutional customers.

Features:

v  Manage the availability of client’s funds efficiently

v  Monitor and control the movement of funds

v  Settle payments to client’s suppliers in a timely and cost-effective manner.

v  Capture every investment opportunity to increase your income

Trade finance:

Standard Chartered possesses 140 years of experience in Trade Finance. The bank has presence in over 40 countries, in addition to our extensive network of overseas banking partners and correspondents. The bank obtained ISO9002 accreditation for its quality service. Dedicated trade and payment systems are in place to make sure that your every transaction, even across different currencies, will be professionally executed.

Custody and clearing services:

Standard Chartered Custody and Clearing Services’ combination of local market expertise, with the security offered by being an integral part of one of the world’s leading international banks has garnered an impressive client base which includes leading North American, European and Asian institutions.

Electronic banking:

Standard Chartered offers the client a comprehensive range of Cash Management services. Whether it is a financial institution, a multi-national corporation or a domestic company, Electronic Banking application has the capability to support full range of Cash Management reporting and transaction initiation needs. It provides the secure, reliable and effective link between the client and client’s accounts anywhere across the Standard Chartered network.

Lending:

Working Capital Loan to help the client meet their financial obligations and operate effectively, the bank offers assistance in the form of working capital loans, overdrafts, term loans (including real estate loans and other secured debt), backstops and revolvers.

Global markets:

According to the latest ‘Activities of Bank and Financial Institutions’ published by the Banking Division of the Ministry of Finance of Bangladesh, Global Markets, Bangladesh is, in terms of foreign exchange transactions, first amongst the multinational banks and 4^th amongst all the banks in Bangladesh.

The Treasury division of the Standard Chartered Bank has a centralized dealing room in Dhaka and consists of the following two areas:

Structured finance:

Standard Chartered provides Commodity, Structured Trade and Export Finance global group (“Structured Finance”) service. Many financial institutions have been retreating from these markets. Standard Chartered stands out as the only bank which is committed to financing Commodity and Export Credit Agency supported trade flows.

Features:

v  Access to long established expertise in Commodity Finance and willingness to accept the credit risks associated with approved counterparties.

v  Access to structuring skills for emerging markets medium term financing and to country limit availability for many countries in Asia, India, Middle East, Africa and Latin America.

v  Presence on the ground in many emerging markets which facilitates transactions through local knowledge and the provision of local commercial banking infrastructure.

v  Track record and capability for global arranging, underwriting and syndication in the whole area of Structured Finance.

Two types of lending facility are provided to client at present:

Loan Structure and Syndication: this facility helps borrowers to meet substantial financing needs by enabling them to reach the banks most interested in lending to their particular industry, geographic location and structure through syndicated debt offerings.

Foreign Exchange:

The Reuters monitors placed in the Treasury Division give continuous updates on exchange rate movements as well as ready access to market information. The Foreign Exchange service includes:

Foreign exchange contracts for the same day value, next day value or spot transactions

Forward Contracts: Foreign exchange contracts to hedge exchange risks.

Cross Currency Contracts: The customers can trade a wide range of currencies.

Information analysis: The Treasury division publishes daily and weekly currency newsletters, which provide analyses of currency trends and related issues.  Seminars and workshops are conducted for customers from time to time on foreign exchange related topics.  Customers can also have access to the bank’s information database round the clock through Phone banking.

Money Markets and Investment:

Standard Chartered Bank’s Treasury division is the local market leader in debt instruments including both short and long-term fund mismatches through the money market and takes front line position in inter-bank and market developments.  The money market is managed through tools like inter-bank call money rate, government T-bills of various maturities and inter-bank SWAPS. In future, new instruments like repo and reverse repo will be introduced which will add to the depth of the money market.

Equipments like telephone, voice recorder, money 2000, telex, sealing system, time keeper, swipe doors, computers, fax internet are used to ease and fasten operations of the dealers to conduct deals.

Institutional Banking Group (IBG):

It assists the local banks by taking care of their cross-border business through the worldwide Standard Chartered Bank network.  Following are the variety of financial products offered by this department:

Vostro Accounts:

IBG, Bangladesh maintains Vostro Accounts of banking and financial institutions worldwide. Customers maintaining such accounts can remit funds throughout the country through the Standard Chartered Bank branch network as well as through – Chartered Bank’s local correspondent relationships.

Nostro Accounts:

In order to increase and promote the correspondent banking business worldwide, IBG operates Nostro accounts to Bangladeshi banks and financial institutions in almost all branches spanning the Standard Chartered Bank global network.  Group branches and subsidiaries provide full clearing and payment services in the UK, USA, Hong Kong, Malaysia, Singapore and many African countries.  Worldwide payments services are facilitated by a network of branches supported by electronic cash management (available in select locations), fund transfer system and membership of SWIFT.

Handling of Trade Finance Business:

IBG offers the full range of services available under Trade Finance to its customers.  The Standard Chartered Bank network in China, the Far East, the Middle East, the Indian sub-continent, Africa, UK and USA makes SCB the natural choice of correspondents for advising, confirming, and negotiating their letters of credit in these territories.

Retail Banking:

Retail Banking deals with the banking services to individuals. It includes the following products and services of the bank:

Current account:

Tailored to meet the needs of individual and commercial customers, SCB’s current account offers benefits like free cheque book, ATM service, Phone banking, account access from any branch, and instant fund-transfer (free of charge) amongst our branches in the country. Minimum opening balance required is Tk. 50,000, no interest is paid.

Recent changes:

A fee of BDT 1150 is deducted after every 12 months as a relationship fee irrespective of balance

Savings account:

It is an assortment of best benefits available in the market, offering a wide range of special treats free of cost to our retail customers. The most attractive treat is the competitive tiered interest rates, which ensures higher returns for larger deposits. Anyone looking for an opportunity to build a sound saving base can avail our Savings account, which includes the following benefits:

Free cheque-book, Debit card and phone-banking service

Account access from all our branches in Bangladesh

Opportunity to apply for – safe deposit locker facility, utility payment service through ATM and any of our personal finance products.

Interests of deposited amount are as follows:

Deposited Amount                                                                 Interest rate

Under BDT 1,00,000                                                              0%

Between BDT 1,00,000 and 10,00,000                                  2.75%

Over BDT 1000000                                                                3%

Interest forfeiture rules (introduced in August 2006)

Minimum balance must be BDT 1,00,000 every day

Can’t withdraw more than 10% of Deposit amount or BDT 25000 whichever is less without 7 days’ notice.

Maximum 2 transactions allowed per week.

Fixed deposit:

Ideal product for nesting surplus deposit for future long-term investment. SCB’s Fixed deposit, known for its high-yield, helps the customer earn the maximum possible return in addition to the following features:

Can be opened for a term of 3 months, 6 months or 12 months

Tiered interest rates, offering higher rates for larger amounts

Interest payable on maturity

Automatically renewable (with or without interest)

Can be used as security against personal/ commercial loans

Recent changes:

From March 2004, Fixed Deposits having tenures of two years, three years, four years, five years are being offered.

** Renewal/ Roll-Over/ New bookings will require prior approval from Head of Consumer Banking.

Call deposit:

An easy way to turn short-term savings into high-yield assets, blending of the flexibility of a current account with the yield of a fixed deposit. Other features include:

v  Interest rate is between 3 to 5%

v  Interest will accrue everyday.

v  No withdrawal restriction irrespective of frequency or size subject to seven day’s notification.

v  Minimum balance requirements is BDT 250000

v  Interest will be forfeited the day balance goes below BDT 250000

Resident Foreign Currency Deposit (RFCD):

Specially designed foreign currency account for resident Bangladeshis. Offers wonderful opportunity to build a deposit base in foreign currency. Helps make payment for overseas commitments and dues like credit card bills, traveling expense etc.

v  Main features: Minimum balance required – USD 1000 or equivalent. No interest to be accrued if the balance falls below the minimum amount.

v  Offered in USD, GBP and Yen

v  Competitive Interest on deposit

v  Can only be opened within 6 months of arrival from abroad

v  Deposit can be made in foreign currency only (cash, TC or Drafts)

v  Cash withdrawal in local currency only

v  Fund Remittance (in both Lcy and Fcy) to any place in and out of the country (without restriction)

Recent changes: RFCD account is being offered in Euro from 2004.

Foreign currency current account:

Applicable to Bangladeshis working abroad, it can be opened in USD, GBP and Yen without restriction on transaction frequency. Can be operated through nominees in absence of the accountholder. Fund remains in foreign currency and is freely remittable.

Main features:

v  Deposit can be made in foreign currency only (cash, TC or Drafts or transfer from other FCY account).

v  Cash withdrawal from the account is in local currency only.

v  Fund Remittance (in both LCY and FCY) to any place in and out of the country (without restriction).

v  Fund can be used to make investment in Wage Earners’ Development Bond.

v  Non- resident foreign currency deposit:

v  A short-term foreign currency deposit account suitable for Bangladeshis living abroad, offering most competitive interest rates available in both local and international markets. Other features include:

v  Interest paid in Foreign currency

v  Can be opened for a term of 1 month, 3 months, 6 months or 12 months

v  Interest rates are tiered (based on amount and term)

Cash line:

This product permits ready access to cash without disrupting interest-earnings on fixed investments. It provides ready access to cash against quasi-cash investment papers like Terms deposits (Lcy / Fcy) Savings Certificates, Wage Earners’ Development bonds, ICB units certificates etc.).

Other features:

v  Both Revolving & terminating options

v  High utilization Limit (based on security value)

v  Quarterly payment of Interest (only on the outstanding amount)

Money builder:

A unique savings plan that helps customer builds up a sizeable savings base over a period of 5 years. One can begin to save with a small amount, add affordable monthly installments for 5 years and get an amazing return on maturity.

Personal loan:

An easy and fast loan product that requires minimum documentation no cash security, no down payment and minimum processing time.

Main features:

Available for any personal reasons ranging from purchase of consumer durable educational expenses to medical treatment.

3 different repayment-tenor options – 12, 24 or 36 equal monthly installments.

Can be secured by salary assignment and employer’s undertaking or personal guarantee.

Can be repaid in advance, anytime ahead of maturity date

Special Interest Rate for corporate Client:

Phone link:

Phone link in Bangladesh was inaugurated in March 1997.  It helps to bring banking within the dialing distance of the customers, providing access to account information and details, 24 hours a day from the privacy and comfort of their homes, offices and cars. Phone link service is offered to all customers free of charge.

The Phone link service includes:

Automated Services:

v  Account-related services

v  Foreign currency related information

v  Change of Telephone Identification Number (TIN)

Through the Phone bankers one can avail the following services:

v  Enquiry on the product services

v  Change of account address

v  Notification to the bank of lost or captured Moneylink ATM Cards

v  Stop Cheque instruction

v  Pay Order / Demand Draft preparation (to be collected later by the customer) Status enquiry on remittance

Moneylink:

Standard Chartered Bank launched Moneylink ATM in 1994, the first bank to offer this service in Bangladesh. Moneylink ATM service is free of charge, offering the following features:

• Cash Withdrawal & deposit
• Cheque deposit
• Cheque book request
• Change of PIN
• Printing of mini-statement
• Payment of utility bills.

Safe deposit locker:

Standard Chartered Bank’s safe deposit locker service offered from Dhanmondi and Sylhet branch gives you a modern facility for safekeeping of precious items, confidential documents and other valuables. Other features:

v  Personalized service from a dedicated locker officer

v  Available to any customers (for an annual fee which depends on locker size)

v  Accessibility anytime during the banking hours

v  No additional charge for locker visit during locker hours.

Priority banking:

Standard Chartered Bank Bangladesh offers Priority Banking, a special service package for our valued customers. Under this segment an exclusive combination of services are offered to customers who signed up for it. Some of the benefits offered under the program are:

A Priority Card that recognizes client’s Priority Status at all our local branches and also at our global Priority Centers

• Higher withdrawal limit per day from all ATMs in Dhaka, Chittagong & Sylhet
• Privileges associated with the Priority card in reputed hotels, restaurants and stores locally and globally.
• Exclusive Priority Centre in Dhanmondi & Sylhet with reserved parking space.
• Dedicated Customer Relationship Personnel at the Priority Centres.
• And also commission free SCB Visa travelers’ cheques against travel quota, swifter transactions, pre-arranged banking services and invitation to special social and cultural events.
• All one need to do is to meet the priority criteria (set in terms of deposit value), and sign up the relevant forms and the client will immediately be eligible for all the benefits
• In summary, some of the basic products and services offered by the Personal Banking division are: Current Accounts, Overdraft on Current Accounts, Foreign Currency
• Term Deposits, Local Currency Cash Cheques, Cheque Purchase, Drafts, Savings Accounts, Term Deposits, Telegraphic Transfers, Traveler’s Cheques, and Personal Loans.

Account Statement Charges:

The charge for holding statements is BDT 1150 per annum per account, and for Additional/ Duplicate statement (Per cycle) is BDT 500 per statement. Photocopy of statements is Taka 1000.

ATM Card Charges:

The annual fees for ATM card are Taka 690 per card, and the charge in case of damaged or lost card is Taka 600 per card. And phone banking and internet banking and evening banking is absolutely free.

Charges for Cash and Travelers Cheque Foreign Currency:

For issuance of FCY cash, customers need to pay 1% of the transaction plus Taka 200/= per passport. And for issuance of Travelers cheque 1% of the transaction plus Taka 200/=. The charge for encashment is absolutely free in case of travelers cheque issued by SCB.And encashment for other bank’s issued T.C is 0.25% of the transaction value or minimum BDT 500. SCB also provides encashment facility for non-customers, is 0.25% of the transaction value or Taka 1,000.

Charges for maintaining Student file:

For customers, opening student file for SAARC countries, they charge BDT 3500 per student, per annum plus Taka 500 per remittance. This is a centralized system. No matter where the customers conduct his/her banking, for opening and maintaining student file, he/she is bound to come to SCB Kakrail Branch, which is at 109, Kakrail. That branch exclusively deals with Student File. And, the charge for other countries is Taka 5000 per student file plus Taka 500 per remittance. This opening of student file is not available for non-customers

Two separate divisions of SCB in Bangladesh:

Product Division: There are different divisions for targeting different type of customers. Mainly consist of two divisions, that is Consumer Banking Division (C B) and other is Corporate Banking Division named Corporate and Institutional Banking (C & I).

Consumer banking division meets the needs of individual customers with various products like Savings Account, Extra Value Savings Account, Access Account, Call Deposit, FCY Deposit, NFCD Fixed Deposits, RFCD Account, Personal Loans, Auto Loans, Flexi loans, Cash Line, Installment loans, etc. This department also deals with other savings instruments like education savings scheme, rainy day scheme, marriage day scheme, millionaire scheme (some printed brochures are enclosed in the Appendix)

The Relationship between Respective Customers to Different Departments of SCB

This focus allows the business to develop an in-depth understanding of the banks customer’s evolving requirements. This in turn enables SCB

to develop the products and services that help them to stand out from the competition. Treasury provides support to the customers of both these business and develops customers (both individual and organizational) of its own.

Part 2

(Statistical data presentation and Analysis)

Analysis: Here from the survey I found that among 120 survey 33% are women and 67% are men. So we can come to the conclusion that most the SCBS customers are male. And many case we found that private service holders wife maintain there account that’s why the percentage move to 33% otherwise it can be less than 20%. Most of these cases we found those males are opening a joint account so that there wife can maintain there account.

2) Please identify your age range

Analysis: In my survey questionnaire I gave 7 age segment and found 25% customer among the 120 fall in between 31-35 years then 22% fall in 41-45 age years old and 20% fall in between 36-40 years age. So we can say that most of the SCBs customers’ age range falls between 31-45 years range. But yet there are many customer whose age range fall above the average because they maintaining the account before the Independence of Bangladesh. At the same time we found some new customers who are student after SCB start the graduate account. So we can say that all aged customer hold account in SCB Bangladesh.

3) Please mention Your Residence Location

Analysis: I basically did my survey in Uttara, Gulshan, and Banani branch so most of the people are from these areas but in Uttara I found some people coming from Tongi as there is no branch in Gazipur and SCB has a corporate client Sanofiaventis in tongi so employees of sanofiaventis came to uttara and found some customer from Khilkhet and Nikunja. In banana and Gulshan I found many flowing customer from different place of Dhaka city like Agargaon, Dhanmondi and old town. But highest cluster is found on the basic three areas.

4) Please mention your monthly Family income range.

Analysis : Standard Chartered bank is a place where customer or consumer requires a huge amount of money to start its initial operation with SCB. So it is not mentionable mostly high income holders have account in SCB. Among 120 50% we found have monthly family income more than 45000 and 37.5% have income in between 35001-45000. Highest numbers of people are fall in between this.

5) Please mention Your Educational Background.

Analysis: In my survey I found highest number of consumer educational back ground is Honors and all of them except some old women and some worker from Sanofiaventis are graduate means 69.2%. Second is 20.8% are master degree holder and 6.9% are PhD degree holder. So we can end up that all most 85% of SCB account holders are educated because most of the case they need to fill up form in English.

6) Please mention your profession

Analysis: Here we can see that highest percentage is on private service holder because they are operating there salary account with SCB for better service and for definite benefit. Next is professional under this category all engineer, doctor, lawyer, Consultant etc which contains 18.3%. Then next government officer as we know a huge number of our population is doing govt. service but most of their money is black money that’s why they don’t want to operate in SCB although we found 13.3% are govt. service holder but most of them are senior official. Last we found same percentage on student and retired govt. official which is 3.3%

7) Please put a tick mark on the service name that you avail most from Standard Chartered bank.

Analysis: During my internship in Uttara branch and from the survey I found most of the customers come to branch for avail the sanchayapatra coupon encashment and purchase services and taking statement & certificate for different embassy. And numbers of people come to know there balance although they can get it through ATM booth and call center but still they wants to rely on branch. Lastly few people as well come to open different savings product.

8) Are you happy with the charges that Standard chartered bank take for statement from