An evaluation of the Foreign Exchange Operations of NCC Bank LTD

Abstract

The internship is designed to bridge the gulf between the theoretical knowledge and real life

experience. It is designed to have a practical experience while passing through the theoretical

understanding. The

report is the result of

three month internship

program in NCC Bank

Limited.

Today necessity of a

Bank as a

financial institution is

undeniable.

A country is

financially rich when it has modern financial institutions of its own. These institutions play a vital

role in the field of financial stability of a country. Banking sector is one of the stable financial

institutions of a country. Due to Globalization and Technological changes, the banking business

has become very competitive now a day. All banks are competing to give effective real time

service to their customers. For giving friendly service to the customers they need experienced and

well-educated working force. The overall approach of the report is a descriptive one as it goes

into the depth of service quality of NCC Bank Ltd. Here both primary and secondary information

were used. Information about the varieties

of activities within the Correspondent Banking

Department was collected through interviewed. Different circulars and papers of NCC Bank Ltd,

Term papers of NCCBL Training manuals,

Guidelines

for Foreign Exchange

Transactions,

General Banking Operation manual, Banking Lecture sheet within the organization helped me to

gather data about the organization.

The report contains three chapters. The first chapter of the report describes the introductory

words of the internship report. The Second Chapter contains the organizational part of “NCC

Bank Ltd.”, Organization Structure of “NCC Bank Ltd.”, Vision of “NCC Bank Ltd.”, and

Mission

Statement,

Product and

services of

“NCC Bank Ltd.”. The third chapter contains

Foreign Exchange function, Export/Import procedure,Procedure of Opening the Letter Of Credit

(L/C). On next chapter, I mentioned Study Results and Findings. After analyzing the dataI

have tried to show

the contribution of

NCCBL in

the field

of Export,

Import and

Remittance.The total income of NCCBL of foreign exchange department increased over the

years. Total income from Foreign Exchange was Tk. 307,901,831 in 2010 whereas it has

increased to Tk. 465,133,566 in 2013. In case of Export and Import the income of overall

NCCBL is increasing gradually but the MMB’s income is not increasing comparatively. In

case of NCCBL.

Remittance

the income of MMB

is increasing comparatively with the overall

NCCBL should take up to the mark structural change in service to cope with the national trend

and help Bangladesh earn more remittance. Lastly in Chapter 5, I have given some Related

problems

and their

Recommendations,concluding part

which is related to my report. The

Problems findings during the three-month long internship period & suggestions are given from

observation, comparative analysis, strategic

point of view etc. To

increase the efficacy in

customer service NCC Bank Ltd. should try to develop the process of providing services. NCC

Bank Ltd. has passed a long way since it is providing services. Already it has earned a strong

positioned in the field of customer service. To continue to hold the position and be perfect in this

sector it will have to keep more and more attention to the customer retention and development.