THE ORGANIZATION
1.1 Introduction
Jamuna Bank Ltd. is a third generation bank in Bangladesh. It provides commercial banking services in the Bangladesh. It is playing an important role to develop the business sector. The growth of this bank is very good. Its motto is to provide a prompt and quick service to the clients. Jamuna Bank Ltd. has implemented well structured online banking systems that make it easier to provide prompt services to the customer. The bank primarily engages in corporate banking, trade finance, project finance, retail banking, small enterprise finance, consumer finance, and syndication. Its range of service offerings include cash management services, payments and clearings, safe deposit locker services, employee benefits, collection services, treasury services, asset management, services and SWIFT for foreign trade.
1.2 History
Jamuna Bank Limited (JBL) is a Banking Company registered under the Companies Act, 1994 with its Head Office at Chini Shilpa Bhaban, 3, Dilkusha C/A, Dhaka-1000. The Bank started its operation from 3rd June 2001.
Jamuna Bank Limited is a highly capitalized new generation Bank with an Authorized Capital and Paid-up Capital of Tk.10000 million and Tk.4488 million respectively. The Paid-up capital has been raised to 840 million and the total equity of the bank stands at 8325 million as on December 31, 2012.
JBL undertakes all types of banking transactions to support the development of trade and commerce of the country. JBL's services are also available for the entrepreneurs to set up new ventures and BMRE of industrial units. Jamuna Bank Ltd. the only Bengali named new generation private commercial bank was established by a group of winning local entrepreneurs conceiving an idea of creating a model banking institution with different outlook to offer the valued customers, a comprehensive range of financial services and innovative products for sustainable mutual growth and prosperity. The sponsors are reputed personalities in the filed of trade, commerce and industries. The Bank is being managed and operated by a group of highly educated and professional team with diversified experience in finance and banking. The Management of the bank constantly focuses on understanding and anticipating customers needs. The scenario of banking business is changing day by day, so the bank's responsibility is to device strategy and new products to cope with the changing environment. Jamuna Bank Ltd. has already achieved tremendous progress within only twelve years. The bank has already ranked at top of the quality service providers & is known for its reputation.
Jamuna Bank Ltd. offers different types of Corporate and Personal Banking Services involving all segments of the society within the purview of rules and regulations laid down by the Central Bank and other regulatory authorities. As per the provisions of Bangladesh Bank license, the Bank has offered initially its shares to public by Pre - IPO and subsequently sold shares to the public through IPO in the year 2004. The shares of the Bank are listed with both Dhaka Stock Exchange Ltd. & Chittagong Stock Exchange Ltd.
1.3 Mission and Vision
Mission
The bank is committed to satisfy diverse need of its customers through an array of products at a competitive price by using appropriate technology and providing timely service so that a sustainable growth, reasonable return and contribution to the development of the country can be ensure with a motivated and professional workforce.
Vision
To become a leading banking institution by playing a significant role in the development of the country
1.4 Objectives of JBL
• To establish relationship banking and improve service quality through development of Strategic Marketing Plans.
• To remain one of the best banks in Bangladesh in terms of profitability and assets quality.
• To ensure an adequate rate of return on investment.
• To keep risk position at an acceptable range (including any off balance sheet risk).
• To maintain adequate liquidity to meet maturing obligations and commitments.
• To pursue an effective system of management by ensuring compliance to ethical norms, transparency and accountability at all levels.
1.5 Core Values
• Place customer interest and satisfaction as first priority and provide customized banking products and services.
• Value addition to the stakeholders through attaining excellence in banking operation.
• Contribute significantly for the betterment of society.
• Ensure higher degree of motivation and dignified working environment for our human capital and respect optimal work-life balance.
• Committed to protect the environment and go green.
• Employees of JBL share certain common values, which helps to create a JBL culture
• The client comes first.
• Search for professional excellence.
• Quick decision‐making.
• Flexibility and prompt response.
1.6 Management
JBL is managed by highly professional people. The present Managing Director of the Bank is a forward looking senior banker having decades of experience and multi discipline of knowledge to his credit both at home and abroad. He is supported by an educated and skilled professional team with diversified experience in finance and banking. The management of the bank constantly focuses on the understanding and anticipating customers’ needs and offer solution thereof. Jamuna Bank Limited has already achieved tremendous progress within a short period of its operation. The Bank is already ranked as one of the quality service providers and known for its reputation.
1.7 Ownership structure
Leading industrialists of the country having vast experience in the field of trade and commerce own 52.48% of the share capital and the rest n held by the general public. JBL’s board currently consists of 19 directors. Authorized capital is tk.4000 million and paid up capital is tk.2230 million on 2010.
1.8 Product/Service Offerings
The Bank has a collection of mode that prepared financial products and services. Such products are based on Monthly Savings Schemes, Consumer Credit Schemes, Lease Finance and Personal Loan for Women and Shop Finance Scheme etc.Jamuna Bank Ltd, also familiar with Q-cash ATM cards for its valued customers providing 24 hours banking services through Debit Cards.JBL offers the following services to valued customer. The Bank is providing different types of services. Some of them are mentioned in below:
Deposit Schemes
Remittance and Collection
Import and Export handling and Finance Loan Syndication
Project Finance
Investment Banking
Lease Finance
Hire purchase
Personal Loan for Woman
24-hours Banking: Q-Cash ATM facility Islamic Banking
Corporate Banking
Consumer Credit Scheme
International Banking
1.8.1 Islami Banking Branch
In the year 2004, Jamuna Bank Limited opened another Islamic banking branch at Jubilee Road, Chittagong on November 27, 2004. The already existing Nayabazar Islamic Banking Branch started its operations from October 25, 2003, the total Islamic banking branches stands at 02 (Two). The operational performance of the branches as on 31-12-2008 is shown through the Balance Sheet, Profit & Loss Account of the Islami Banking Branches below :JBL’s Shariah Council consists of 06 (Six) members, among them 02 (two) are Khatib, 01 (one) is Ex-Economic Advisor, 01 (One) is Vice chancellor, Islami University, 01 (One) is Principal and other one is Banker. During the year 2009, the Shariah council of JBL conducted 03 meetings to discuss all aspects of Islamic Branches operation.
1.8.2 Portfolio Management Service
Since inception, we have achieved an unparalleled reputation as a leading Merchant Banker through providing portfolio management services by maintaining a high level of professional expertise and integrity in client relationships. Keeping customer preferences as an investor in mind, Jamuna Bank Ltd. has designed Investors’ Discretionary Account (IDA) and Bank’s Discretionary Account (BDA). In these accounts the customers may enjoy loan facilities at a ratio 1:1 for investments in private placement, IPO, and secondary market operations.
1.8.3 JBL Special Banking Services:
Special Banking services of Jamuna Bank are considering the Personal services. The bank is offering wideranging products and services. These services and products are matching with the customer’s requirements. Transactions of accounts, savings schemes or loan facilities from Jamuna Bank Ltd make available for every customer in a unique and uniform mixture of easy and expert service superiority.
JBL offers the Special Banking Services like Current Deposit Account, Savings Deposit Account, Short Term Deposit Account, and Fixed Deposit Accounts. It also offers attractive rates on various deposit schemes.
1.8.4 JBL Corporate Banking Services
Jamuna Bank Ltd. offers a complete range of advisory, financing and operational services to its corporate client groups combining trade, treasury, investment and transactional banking activities in one package. The corporate Banking specialists will render high class service for speedy approvals and efficient processing to satisfy customer needs.
Corporate Banking business envelops a broad range of businesses and industries. You can leverage on the know-how in the following sectors mainly:
Agro processing industry
Industry (Import Substitute / Export oriented) Textile, Spinning, Dyeing/Printing
Export Oriented Garments, Sweater.
Engineering, Steel Mills
Chemical and chemical products etc.
Telecommunications.
Wholesale trade
Transport · Hotels, Restaurants
Non Bank Financial Institutions
Loan Syndication
Export Finance
Import Finance
1.8.5 Online Banking
Jamuna Bank Limited has introduced real-time any branch banking on December 31, 2010. Now, customers can withdraw and deposit money from any of its 65 branches located at Dhaka, Chittagong, Sylhet, Gazipur, Bogra, Naogaon, Narayanganj, Dinajpur, Kushtia,Rajshahi, Bashurhat, Sirajganj and Munshigonj. The valued customers can also enjoy 24 hours banking service through ATM card from any of Q-cash ATMs located at Dhaka, Chittagong, Khulna, Sylhet and Bogra.
1.8.6 Types of Deposit account
There are several types of deposit accounts. Each account has different characteristics and every account has some specific purpose to serve.JBL offers the following key Personal Banking Services. According to their uniqueness they are described as follows:
Savings Account:
It is the general account of the JBL (Mirpur Branch) individual or more than two persons can open a savings account on JBL. The officers and authorize persons are issuing cheque book, deposit slips and statement of account to the holder of savings. The officer justifies the information that is submitted by the account holder for opening of the account. The officers of the bank process account-opening formalities.
Current Deposit Account:
JBL is one of the newly established well-reputed third generation private commercial bank in Bangladesh. It operates very diverse current account operation. They serve various types of customers, like current account for private limited company, current account for public limited company, current account for partnership business, etc.
Foreign Currency Account:
The JBL also operate Foreign Currency Account for Bangladeshi Wage Earners or for Foreign Nationals/Company/Firms etc. to send their valued earned foreign currency into the country.
Short Term Deposit Account (STD):
JBL also offers Short Term Deposit to its valued customers. Short Term Deposit is a deposit account where the payment of interest is paid on month basis. These items include the deposits for a period ranging from 7 (seven) days to 89 (eighty-nine) days. These types of liabilities are payable on special notice or after a specified period other than the fixed deposits. Some of these types of deposits are of the nature of time deposits. The rate of interest on STD account is 4.5% per annum. There are some rules and regulations that must be maintained by the STD account holder. If the STD account holder wants to withdraw the money from the account they have to inform the bank before, otherwise the account holder may not get the interest in full amount
Schemes:
Schemes are the most important sources of enhancing banks deposit. Mainly bank is the lender of money, which is deposited by various types of depositor. These schemes are different in nature and types and also in interest rates. These deposits give the customers to deposit the idle money in profit earning schemes and also provide the security. Jamuna Bank limited as third profit earning to the depositors and generation modern and technology based modern commercial bank offers various types of customer’s friendly deposit schemes to its valued customers. These schemes are highly also unique in security.
Marriage Deposit Scheme
Marriage of children, especially daughter is a matter of great concern to the parents. Marriage of children involves expense of considerable amount. Prudent parents make effort for gradual building of fund as per their capacity to meet the matrimonial expense of their children specially daughters. Parents get relief and can have peace of mind if they can arrange the necessary fund for marriage of their children.
1.8.7 Types of loan of what are offered by Jamuna Bank Limited
Loan (General)
House Building Loan (General
House Building Loan (Staff)
Other Loans to Staff
Cash Credit (Hypo.)
Cash Credit (Pledge)
Corporate Social Responsibilities of the Jamuna Bank Limited
Hire Purchase
Lease Financing
Time Loan
Cons SOD (General)
SOD (Others)
SOD (Export)
PAD
LlM
LTR
IBP
Export Cash Credit (ECC)
Packing Credit (PC)
F D B P
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