Essays /

13788312153706 Pas Of Bal Essay

Essay preview



1.1 Introduction of Report

Bank Asia Limited is a scheduled commercial bank in the private sector established under the Banking Company Act 1991 and incorporated in Bangladesh as a public limited company under the Companies Act 1994, on September 28, 1999. Bank Asia Limited is a new entrant in the private banking scenario of Bangladesh. The bank started its journey on November 27, 1999 when the Honorable Prime Minister, Sheikh Hasina inaugurated Bank Asia's corporate office at Rangs Bhaban, on the Old Airport road. Bank Asia has been launched by a group of successful entrepreneurs with recognized standing in the society. The initial paid up capital of the Bank is over Tk. 218.00 million. The management of the Bank consists of a team led by senior bankers with vast experience in national and international markets. Bank Asia Limited conducts all types of commercial banking activities. The core business of the bank comprises of import, export, working capital finance and corporate finance. The bank is also rendering personal credit, services related to local and foreign remittances. The “Personal Credit” scheme of the bank, which is designed to help the fixed income group in raising standard of living is competitively priced and has been widely appreciated by the customers. The bank’s strategy is to gradually cover the total arena of banking.

Within a short span of time, Bank Asia Limited has established itself as one of the fast growing local private banks. It has at present a network of 44 branches serving many of the leading corporate houses, small and medium enterprises and individuals. In 2001, the bank set a milestone by acquiring the business operations of the Bank of Nova Scotia in Dhaka, first in the banking history of Bangladesh. Again in 2002, the bank acquired the Bangladesh operations of Muslim Commercial Bank Ltd. (MCB) of Pakistan. In the year of 2003, the bank went public by offering shares to the general investor and in 2004 the bank listed itself with the stock exchange.

1.2 Objectives of the Report
Broad Objective
To learn about the performance appraisal system of Bank Asia.

Specific Objectives

To know the inner side of the Bank Asia banking culture.
Provide information on Bank Asia Limited.
To find out the corporate social responsibility of Bank Asia.

1.3 Rationale of the Study
The study was conducted to know about the different functions of performance appraisal system of the Bank Asia Limited. Around 450 employees are work here, so we try to find how the HRM department in the Bank Asia Limited evaluates their employee performance and motivate their employee to perform better. We also try to find out what type of performance appraisal system active in Bank Asia Limited, some of the past HR strategies and information that I collected from the organization.

1.4 Methodology

Data sources: The primary data has been collected from face to face interview, and the secondary data has been collected from their annual reports and from web sites. The main source of data was secondary though primary data sources were also utilized.

Primary Sources:
Personal observation of the manufacturing process.
Informal interview with the machine workers.

Secondary sources:
Various records of the bank.
Different Types of brochures.
Website of Bank Asia Limited.
Different newsletters of Bank Asia.
Personal files of the employee’s

1.5 Scope of the Study

There are some confidential things in performance appraisal system. So the scopes are limited. The first scope of this report is to have practical experience about how HRM is work to motivate their employee in Bank Asia Limited. It has the scope to cover different aspects of Human Resource Management, which include learn about performance appraisal system, reward, training and development. I discuss only one organization throughout this report on Bank Asia limited. The scope of the report was to get a real life exposure. We have got the opportunity to observe what is actually happening in a company, how they are using the performance appraisal system and also influence them can have over the development of the employee performance in the organization.

1.6 LIMITATIONS
The following are the limitations faced by me during the course of the study.Short of time:
Time shortage is a big constrains. So the time constraint of the study hindering the course of vast area and time for preparing a report within the mentioned period is really difficult.

Busy working environment:
The officials had some times been unable to provide information because of their huge routine work. Lack of enough cooperation due to high workload.
Insufficient data:
Due to conservatism in sharing data due to high information Security of the organization, any statistical data or other relevant data cannot be included since survey is quite restricted. Some desired information could not be collected due to confidentially of business like compensation & some of the training. Sensitive company information cannot be displayed in this report.

.

2.1 History of Bank Asia Limited
Bank Asia has been launched by a group of successful entrepreneurs with recognized standing in the society. The management of the Bank consists of a team led by senior bankers with decades of experience in national and international markets. The senior management team is ably supported by a group of professionals many of whom have exposure in the international market. It set milestone by acquiring the business operations of the Bank of Nova Scotia in Dhaka, first in the banking history of Bangladesh. It again repeated the performance by acquiring the Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a Pakistani bank. In the year 2003 the Bank again came to the limelight with oversubscription of the Initial Public Offering of the shares of the Bank, which was a record (55 times) in our capital market's history and its shares commands respectable premium. The asset and liability growth has been remarkable. Bank Asia has been actively participating in the local money market as well as foreign currency market without exposing the Bank to vulnerable positions. The Bank's investment in Treasury Bills and other securities went up noticeably opening up opportunities for enhancing income in the context of a regime of gradual interest rate decline. Bank Asia Limited started its service with a vision to serve people with modern and innovative banking products and services at affordable charge. Being parallel to the cutting edge technology the Bank is offering online banking with added delivery channels like ATM, Tele-banking, SMS and Net Banking. And as part of the bank's commitment to provide all modern and value added banking service in keeping with the very best standard in a globalized world.

2.2 Mission Statement of BAL
To assist in bringing high quality of service to customers and to participate in the growth and expansion of our national economy. To set high standards of integrity and bring total satisfaction to clients, shareholders and employees. To become the most sought after bank in the country, rendering technology driven. Innovative services by dedicated team of professionals.

2.3 Vision Statement of BAL
Bank Asia’s vision is to have a poverty free Bangladesh in course of a generation in the new millennium, reflecting the national dream. Our vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty.

2.4 Values of BAL
Placing the interests of clients and customers first.
A continuous quest for quality in everything the company does. Treating everyone with respect and dignity.
Conduct that reflects the highest standards of integrity.
Teamwork from the smallest unit to the enterprise as a whole.

2.5 Corporate Objective of BAL
Highly personalized service
Customer driven focus
Total commitment to quality
Outstanding products
Contribute in the economy
Commitment to its clients at each level

2.6 Corporate Slogan of BAL
“For a better tomorrow”

2.7 Product and Services, Schemes and Special Features

Product & Services
Schemes
Special Features

Mobile Banking
ATM Services
Credit Card
Internet Banking
SMS Banking
Foreign Currency Account

Bonus Savings Schemes
Deposit Pension Scheme
Double Benefit Plus
Triple Benefit Plus
Monthly Benefit Plus
Coverage Loan
Poverty Alleviation

Corporate Banking
Loan Syndication
Real-time Online Banking
Table 2-1: Product and Services, Schemes and Special Features

2.8 Bank Asia Limited at a Glance

Date of Incorporation
September 28, 1999
Date of Commencement of Business
November 27, 1999
Corporate Office
RangsTower
68,PuranaPaltan
Dhaka-1000.
Authorized Capital
Tk. 800.00 million
Paid up Capital
Tk. 218.00 million
Number of Branches
45
Number of ATM’s
50
Company Status
Commercial Bank (Local Commercial Bank)
Chairman of the Board of Directors
Mr.A.Rouf Chowdhury
Chief Executive Officer (CEO)
Mr. Erfanuddin Ahmed
Banking Activities
Both Conventional and Islamic Shariah
Banking.
Motto of the Bank
“For A Better Tomorrow”
Technology
For online banking Bank Asia use STELAR
and My Bank
Service Coverage & Customer
Serves individual and corporate customers within Dhaka and outside of Dhaka. Website
www.bankasia-bd.com
Table 2-2: Overview of BAL

2.8.1 Hierarchy of Bank Asia Limited

Managing Director
Deputy Managing Director
Senior Executive Vice President
Executive Vice President
Senior Vice President
Vice President
First Vice President
Assistant Vice President
First Assistant Vice President
Senior Executive Officer
Executive Officer
Senior Officer
Officer
Junior Officer
Assistant Officer
Banking Officer
Trainee Officer

Figure 2.1: BAL Hierarchy

2.8.2 Strategies

To manage and operate the bank in the most efficient manner to enhance financial performance and to control cost of fund. To strive for customer satisfaction through quality and control and delivery of timely services. To identify customers credits and other banking needs and monitor their perceptions towards our performance in meeting these requirements. To review and update policies, procedure and practices to enhance the ability to expand better services to customers. To train and develop all employees and provide them adequate resources so that customers needs can be responsibly addressed. To promote organizational effectiveness by openly communicating company plans, policies, practices and procedures to all employees in a timely fashion. To cultivate a working environment that fosters motivation for improved performance. To increase direct contact with customers in order to cultivate a closure relation between the bank and its customers.

2.8.3 Trends of Branches Expansion
Bank Asia Ltd starts its journey not for very long. Till now it has only thirty three brunches. But Bank Asia Ltd had twenty nine brunches at end of year 2007. The Bank had a tendency to open new branches every year; they had a average 20 growth of expansion. So Bank Asia Ltd had a very good branch expansion rate. The expansion rate was 21% during 2003 to 2004, 12% during 2004 to 2005, 26% during 2005 to 2006 and 21% during 2006 to 2007.

The numbers of branches are given bellow:

Table2-3: Branches expansion of Bank Asia Ltd.

2.8.4 Number of Employees

Bank Asia Ltd creates new employment every year by opening new branches and expanding their existing departments. Bank Asia Ltd has a very good Growth rate of Employees the growth rate is increasing dramatically. The growth rate was 21%, 20%, 30% and 35% for the year 2004, 2005, 2006 and 2007 respectively.

2.9 HR Department of Bank Asia Limited

Each and every organization is composed of people. Acquiring their services, developing their skills, motivating them to high level of performance and ensuring that they continue to maintain their commitment to the organization are essential to achieve organizational objectives. Getting and keeping the desirable people is the most important thing for any organization. HR department of any organization ensure this things. BAL invests extensively in its human resource development to build its employees capabilities. The goal is to empower staff and create a culture that encourages and rewards staff for their commitment, creativity and team work in order to respond rapidly to the ever changing customer needs and the market place. Human resources Department of BAL is one of the most valued departments with the responsibilities of staffing, training and development, organization development, performance appraisals, rewarding, control and maintenance etc. With the start of BAL’s banking operation, the Human Resources Department (HRD) was not as strong and structured as it is now. The Human Resources Department of BAL consists of nine competent and experienced executives to carry out the whole responsibilities. The Human Resources Department of BAL stands in its Head Office at Purana Paltan under the direct supervision of the top management. The mission statement of HR Department is; “Employee of Choice, they will inculcate high performance culture where we will work with fun and pride”. Now the BAL is trying to apply all sorts of modern HR activities related to their organization in order to achieve its mission.

2.9.1 The HRM Functions in BAL

HR department of BAL performs variety of activities Such as: Recruitment and Placement
Training and Development
Asserting Smooth Workflow in the Organization
Performance Appraisal System.
Supervise the Employees
Offer Attracting Compensation and Benefit Packages
Maintain the Daily Attendance
Provide Intrinsic Benefit
Review the Salary Structure
Review and Propose the upcoming Budget
Perform the Administrative Activities for Smooth Functioning Create a Good Working Environment
Implement the Disciplinary Action and so on.

2.9.2 The Structure of HR Department in BAL

In BAL enough to have a HR or personnel department, the personal director and his or her staff will play a key role in the designing and monitoring of human resources system. BAL is more likely to help design and implement HR system. A full-time specialist tends to emerge when organization have about one hundred employees. A standard structure of HR department in BAL is shown below:

Figure 2.2: Structure of HR Department in BAL

2.9.3 Responsibilities of Employees under HRD in BAL
The Responsibilities of Employees under HR Department in BAL are given below: Position
Responsibilities
VP , HR
Executive committee, Organization planning, HR planning, Policy, Organization development AVP, Recruitment & Employment
Recruiting, Interviewing, Testing, Placement & Termination
AVP, Compensation & Benefits
Job analysis and evaluation, Surveys, Performance appraisal, Compensation administration, Bonus, Profit sharing plans, Employee benefits. AVP, Training & Development
Orientation, Training, Management development, Career planning & Development. AVP, Employee Relation
EEO relations, Contract compliance, Staff assistance programs, Employee counseling. Table2-4: Responsibilities of Employees under HR Department

2.9.4 Activities of HR Department in BAL
The activities performed by HR Department of BAL are given below: To control the administration of human resources of the bank. To access and collect compatible personnel who will be perfect for the bank. To take program and implement for developing human resources. To make appointment, promotion and appraising skill of officer and staff. To make service rules, correction, expansion administration rules, orders notice etc. for employees. To maintain relationship with government and other institution. To access and grant retirement facilities at the time of retirement. To give general sip to the brilliant student of the university for appointing and finding skilled officer. To communicate w...

Read more

Keywords

-1 -1.5 -100 -1000 -2 -2.5 -3 -3.5 -30 -4 -4.5 -5 -5.0 -50 -6 -7 -70 -8 -90 /given /knowledge /targets 0 01 03 05 07 1 1.0 1.1 1.2 1.3 1.4 1.5 1.6 10 100 100.0 11 12 13 13.3 13788312153706 15 17th 18th 1909 1914 1950s 1954 1977 1988 1989 1991 1993 1994 1996 1999 1st 2 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.8.1 2.8.2 2.8.3 2.8.4 2.9 2.9.1 2.9.2 2.9.3 2.9.4 2.9.5 2.9.6 20 20.0 2001 2002 2003 2004 2005 2006 2007 2008 2010 20th 21 218.00 25 26 26.7 27 28 2nd 3 3.1 3.10 3.11 3.12 3.12.1 3.12.1.1 3.12.1.2 3.12.2 3.12.2.1 3.12.2.2 3.12.3 3.12.3.1 3.12.3.2 3.12.3.3 3.12.3.4 3.12.3.5 3.13 3.14 3.15 3.16 3.17 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 30 31 33.3 35 360 3rd 4 4.1 4.1.1 4.1.10 4.1.11 4.1.12 4.1.13 4.1.13.1 4.1.13.2 4.1.14 4.1.2 4.1.3 4.1.4 4.1.5 4.1.6 4.1.7 4.1.8 4.1.9 4.2 4.3 4.5 40 40.0 42 44 45 450 46.7 5 50 51 53 53.3 55 56 6 6.7 60 60.0 66.7 68 7 71 73.3 75 8 80 80.0 800.00 86.7 9 90 91 93.3 abil abl abli absenc absente absolut academ accept access accommod accomplish accord account accur accuraci achiev acquaint acquir acquisit acr across act action activ actual ad address adequ administ administr adult advanc advantag advisori advoc affect affirm afford age aggriev ago agre ahm aim airport alert align alleg allevi alloc allow almost alon along also although alway among analys analysi analyt analyz ancient anger annual anoth answer anti anti-discrimin anwer anxieti anxious anyon apart appar appeal appear appli applic appoint apprais appraise appreci approach appropri arbitrarili area aren arena argument aris around arrang art asia ask aspect aspir assert assess asset assign assist associ assum assumpt atm atmospher attain attempt attend attent attitud attract attribut attrit audit author automat autonomi avail averag averagear avg avoid avp awar b back bad bal bal.the balanc bangladesh bank banker baron barrier base basi basic bavg be becom began begin behavior behind believ bellow belong belonging benefit best better bhaban bias big bill bipolar board bonus book boss bottom branch break brief brilliant bring broad broader brochur broken brunch budget build busi c came candid cannot capabl capac capit card care career carri case casual categori caus central centuri ceo certain certif chairman challeng chanc chang channel characterist charg check chemic chief children choic chowdhuri christoph circul circumst claim clarif clariti clash class classifi clear cleric clerk client close closur clump coach collabor collect come comfort command commenc commerci commit committe common communic compani compar comparison compat compens compet competit complaint complement complet complex compli complianc complic compon compos comprehens compris comput concentr concept concern conclus condit conduct confid confidenti confin confirm conflict confront confus consequ conservat consid consider consist consolid constitu constrain constraint construct consult consum contact contain contenti context continu contract contradict contrast contribut control controlling/monitoring convent convey cooper coordin copi core corpor correct cost could counsel countri cours cover coverag creat creativ credibl credit criteria critic cultiv cultur cumul cure currenc current custom cut cycl d daili danger data date david day day-to-day de dead deal decad decid decis decision-mak declin decreas dedic defens defin definit degre dehuman deleg deliber deliv deliveri demand demonstr demor demot deni denial depart department depend depict deposit deputi deriv describ descript deserv design desir destruct detail determin develop development devot dewakar dhaka dictat differ differenti difficult difficulti digniti dilig dimens diploma direct director disabl disadvantag disagre discharg disciplin disciplinari disclos discount discrimin discuss disguis dismiss dispar display dissatisfact dissect distinct distinguish distort distress divid divis document dole done doubl downplay downsid dramat draw dream dress drive driven drucker due dulewicz duti e e.g earli earn easi easili econom economi edg edit educ eeo effect effici effort eid either element elig els embroil emerg emin emphasi empir employ employe employer-employe empow empower enabl encapsul encourag end engag engin english enhanc enough ensur enterpris entir entrant entrepreneur environ equal equip erfanuddin error especi essay essenc essenti establish esteem etc ethic evalu even ever everi everybodi everyday everyon everyth evid evolut ex examin exampl exceed excel except excess exchang exclud excus execut exist exit expand expans expect expens experi experienc expert expertis explain explicit export expos exposur express extend extens extent extra extraordinari extrem eye f face facil facilit fact factor fail failur fair fals famili familiar far fashion fast fatal featur feder feedback feel felt femal festiv field figur figure2.3 figure2.4 file fill final financ financi find firm first fit five fix flexibl flow fluid fluiditi focus follow forc forecast foreign forg forget form formal format foster found foundat four free freedom freeli french frequenc frequent fresh friend full full-tim fulli fun function fund fundament furnish futur g gain gap gather gender general generat genuin get give given glanc global go goal goal-set goals-key goel gol gone good got govern grad grade gradual grant gratuiti great greater greatest grievanc griffin ground group grow growth guard guess guid guidanc guidelin h habitu half halo hand handicap handl handsom happen harass hard harri harsh hasina hazard head health hear help hierarchi high higher highest hinder hire his/her histor histori holder home honor horn hous household howev hr hrd hrm hrms huge human hundr i.e idea ideal identifi ignor ill imagin immedi impact impetus implement import impos impress improv inact inaugur incent inclin includ inclus incom incorpor increas increment inculc incumb index indic indirect indispens individu induct industri ineffici inevit infer influenc inform inher initi injuri inner innov input instanc instead institut instrument insuffici insur integr intellig intend intens intent interact interest intern internet interview intrins introduc introduct intuit inventori invest investig investor involv irrelev islam issu italian item j job joint journey judg judgment junior justic justif justifi keep key kind know knowledg known kra la labor lack landmark languag later latin launch law lay lead leader leadership leading/directing learn least leav led left legal legitim length lengthi less let level liabil life like limelight limit line link list littl live loan local locher lock log logic long long-term loss low lower loyalti ltd machin made main maintain mainten major make male manag manageri maneggiar mani manifest manner manpow manufactur manus marin mark market mast match materi matern matter maximum may mbo mcb mcgregor mckellin mean measur media medic medium meet member men mental mention merci merit mesnag met method methodolog middl middle-of-the-road might mileston millennium million minim minimum minist miscommun miss mission mission-crit mix mobil model moder modern modif modul modus monetari money monitor month moral motion motiv motorcycl motto move movement mr mr.a.rouf much multipl muslim must mutual ménagement name nation natur near neat necessari need negat negoti net network nevertheless new newer newslett next nine non non-particip normal note noth notic nova novemb number numer object oblig observ obtain obvious occup occur occurr offer offic offici often old oldest one oneself ongo onlin open open-end oper operandi opinion opportun optimum oral order ordinari organ organiz orient other otherwis outcom outlin output outsid outstand overal overcom overlook oversubscript overview pace packag paid pakistan pakistani paltan paperwork parallel paramet parent part particip particular pas pass passiv past path pattern pay payment payrol penalti pension peopl per perceiv percent percept perceptu perfect perform performance/definition perhap period permit persever persist person personnel perspect pertain peter phenomenon physic pictur pilgrimag pioneer place placement plan plan/targets/expectation play plus point polici poor poorer popular posit possess possibl post potenti poverti power practic predict prefer premium prepar presenc present presid press prestig preval price pricess pride primari primarili prime principl prioriti privat problem procedur process procur produc product profess profession profit profound program programm progress project promot prone proper propos prove provid provis psycholog public puja punctual purana puranapaltan purport purpos put qualif qualifi qualiti quantiti quarantin quarter quest question quit quota r rais rang rangstow rank rapid rare rate rather rating-scal rational reach readi real real-tim realist realiti realli reason receiv recogn recognit recoil recommend record recruit reduc reduct refer reflect regard regardless regim regul regular reject relat relationship relev reliabl remain remark remedi remitt render rent repeat repercuss replac repli report requir research resent resist resolv resourc respect respond respons rest restrict result resum retain retir retrain reveal revenu review reward right rigid rise risk road roadmap role root rough routin row rule safe safeti said salari sanch satisfact satisfactori satisfactorili satisfi save say scale scenario schedul scheme scholarship scope scotia screen scrutin second secondari section sector secur see seek seem seen select self self-audit self-esteem self-monitor semi semi-annu senior sens sensit septemb serious serv servic set settl sever sex shape share sharehold shariah sharpli sheikh short shortag show shown sick side sign signific similar simpl simpli sinc singl sip site situat size skill slacken slogan small smallest smooth sms social societi sociolog solv someon sometim son sonic sort sought sourc span special specialist specif specifi speed spiral spread stabil staf staff stage stakehold stand standard start state statement statist status stay steadi stelar step still stimul stimulus stock strateg strategi strength strengthen strive strong stronger strongest structur student studi study.short sub sub-account sub-divis subject submit subordin subtl succeed success suffer suffici suggest suit suitabl superior supervis supervisor supervisori suppli support sure survey surviv suspens sustain sweeper syndic system systemat tabl table2 take taken talent talk tan target task taylor team teamwork technic techniqu techniques/methods technolog teel tele tele-bank tell tempt tend tendenc tension term termin test theori therefor thing think thirti thorough though threat three throughout thus tight till time tk today togeth token tomorrow tool top top-level torr total toward trace track trade tradit train traine trait transfer transport trap treasuri treat treatment trend tri tripl true truli trust turnov twenti two twofold type typic u.s ultim unabl unattend unbias uncertain under underestim undermin underst understand understood unfair unfortun unhappi union uniqu unit univers unlik unnecessari unrealist unreason unwis upcom updat upon upper upset use usual util vacanc vacat vagu valid valu vari variabl varieti various vast venu verb verbal vg vice view vision vital vp vs vulner w wage want war wari warn way weak web websit week weight welfar well well-inform well-known went whatev wherea whether whole wide widespread willing win within without women word work worker workflow workforc workload workplac world wors worsen worth would write written wrong www.bankasia-bd.com year yes yet yield