The Bank of Punjab SWOT Analysis

Competitors

• United bank limited
• Meezan bank
• MCB
• Soneri bank
• Askari bank limited
• Bank Alfalah
• Bank Al-Habib
• Allied bank limited
• National bank of Pakistan
• Habib metropolitan bank
• Standard chartered
• Silk bank limited
• National Islamic bank
• Summit bank

Future Prospects Of The Organization

In the current environment in the banking sector a lot of difficulties face by the bank but it should be focus on its vision and more focus of providing the facilities to the customer and reduces the barrier of communication gap between customers and bankers.

This bank modifies its rules to secure the rights of the customers so that customer wants to build up relation with bankers.

The Bank of Punjab inject new technology of modifies software's to the other banks so that more friendly environment to the customers and bankers

New hierarchy of management and it provide predefined task and fully accomplished and followed the SBP instructions then bank lead to the vision.

To follow the SBP code of conduct and avoid fraud and miscommunication and misreporting.

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Strength:

• Firstly it is supported by the Punjab Government, it buildup people trust.
• The BOP is rated among top 6 banks in Pakistan; in the perspective of remittance business as compare other province banks.
• Wide range of consumers financing, agriculture loans scheme as compare to other province banks
• BOP has strength due to its name "Punjab" so majority of people prefer to deposit money in this bank because it is public bank.
• BOP is following rules and regulations very strictly which received from Punjab Government, so it make the environment in discipline
• BOP has huge branches in commercial areas even remote area to meet the consumer desired
• BOP has high credit rating as compare to other banks
• Good security system, diversification of investments, foreign reserves
• Good facilities are given to employees
• Lockers capacity
• ATM gift

Weakness:

• Performance of the employee's effect due to communication gap of higher management
• Workload on employees
• BOP has good product and service but it cannot participate in promoting its product on electronic media
• Fewer promotion activities
• Lack of effective modern training and latest awareness program
• Shortage of staff effect on customer dealing as compare to other banks

Opportunity:

• Due to huge Government deposit bank has the opportunity to expand its network in remote areas
• It compete the competitors by encouraging agriculture loans.
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  So in such a way it plays an important role for agriculture sector

• Due to the increase in deposit BOP could increase its investment and financing in banking sector
• Opportunity to increase the deposit and profitability through expanding their products and services to the people
• Government of Punjab provide opportunity to introduce new schemes related to consumer finance in retail banking and agriculture loan scheme to obtain maximum market share

Threats:

• BOP is facing a strong competition by its competitors
• The BOP is facing major threat in Pakistan that is businessman do not prefer the BOP due to the standard as compare to private banks
• Misrepresentation

Learning as a Student

Duties

My duty was filling the:

• Deposit slips
• Cheques
• Payment order
• ATM form
• Account opening form
• Greeting
• Providing help to the newly come customers
• Issuing of checkbooks
• Issuing of ATM cards

Accomplishment

In this modern era of banking sectors different others banks earns his bank through its brand name but this bank earn and build up good will in market to competence customers to its outstanding services.

New knowledge acquired

I acquired plenty of knowledge through my internship in this bank. When I was working there the first thing I have learned about how to face customers how to communicate with them.

Experience impact career

The experience we get during my internship is very helpful for me. I have learned all the major functions of the organization. I get practical experience; it is very compliant for me near future after completion of my study for joins any organization.

Conclusion

The bank of Punjab is well-known bank and successful financial institution in the banking sector. The bank is playing a key role in the banking sector in Pakistan. It's a leading bank in its own industry as they are using latest technology to serve their clients. I have done my internship in BOP LGH branch Lahore. I have worked in several departments and learned something new from each department. Bank of Punjab has a high market share we can say that the management of BOP is very loyal to its "customer service policy". The business volume of last five years in term of advances, investments and deposits show that how well the bank has performed over the years. The recruitment and training policies are according to the latest requirements so the employees are motivated and work efficiently and effectively. Overall performance of the bank of Punjab is satisfactory.

Recommendations

• Employees of the bank should be given a task and authority. They should be asked for their responsibility.
• Good relationship among staff leads to the peak performances in any organization. I observed that staff relationship was normal.
• During my internship I observed that there was no proper distribution of work in the branch. I saw that some of the employees work like ants. Proper distribution of work leads to success in every organization.
• There should be an information desk to provide the information to the customers and receive the complaints of the customer.
• Employees' salaries must increase according to efficiency, performance and service.
• The behavior with the customer should be improved.
• The section of utility bills should be improved.