ASKARI BANK LIMITED
INTRODUCTION
Askari bank was incorporated in Pakistan on
October 9, 1991, as a public limited company. It
commenced its operations on April 1, 1992, and is
principally engaged in the business of banking, as
defined in the banking companies’ ordinance, 1962.
The bank is listed on the KARACHI, LAHORE and
ISLAMABAD Stock Exchanges and its share is
currently the highest quoted from among the new
private sector banks in Pakistan.
Askari Bank has expanded into a nation wide
presence of 98 Branches, and an Offshore Banking
Unit in Bahrain. A shared network of over 1,100
online ATMs covering all major cities in Pakistan
supports the delivery channels for customer service.
As on December 31, 2005, the Bank had equity of
Rs. 8.6 billion and total assets of Rs. 145.1 billion,
with over 600,000 banking customers, serviced by our 2,754 employees.
Vision
“To be the Bank of First Choice in the Region”
Mission
To be the leading private sector bank in Pakistan with an international presence, delivering
quality service through innovative technology and effective human resource management in
a modern and progressive organizational culture of meritocracy, maintaining high ethical
and professional standards, while providing enhanced value to all our stakeholders, and
contributing to society.
Objectives
To achieve sustained growth and profitability in all areas of business.
To build and sustain a high performance culture, with a continuous improvement focus.
To develop a customer-service oriented culture with special emphasis on customer care
and convenience.
To build an enabling environment, where employees are motivated to contribute to their
full potential.
To effectively manage and mitigate all kinds of risks inherent in the banking business.
To maximize use of technology to ensure cost-effective operations, efficient management
information system, enhanced delivery capability and high service standards.
To manage the Bank's portfolio of businesses to achieve strong and sustainable
shareholder returns and to continuously build shareholder value.
To deliver timely solutions that best meet the customers’ financial needs.
To explore new avenues for growth and profitability.
Corporate Information
Board of Directors
Lt. Gen. Waseem Ahmed Ashraf Chairman
Lt. Gen. (R) Zarrar Azim Chairman Executive Committee
Mr. Shaharyar Ahmad President & Chief Executive
Brig (R) Muhammad Shiraz Baig Director
Brig (R) Asmat Ullah Khan Niazi Director
Mr. Muhammad Najam Ali Director
Mr. Muhammad Afzal Munif Director
Mr. Tariq lqbal Khan Director (NIT Nominee)
Company Secretary
Mr. Saleem Anwar
Audit Committee
Brig (R) Asmat Ullah Khan Niazi Chairman
Brig (R) Muhammad Shiraz Baig Member
Mr. Kashif Mateen Ansari Member
Auditors
[Link] & Co. Chartered Accountants
Legal Advisors
Rizvi, Isa, Afridi & Angell
Importance of communicationCorporate Askari
Bank
Today, Askari is a conscientious corporate citizen involved in social uplift,
welfare, cultural and sporting activities across the country.
According to Askari Bank,
“Askari Bank understands the need to be more
than just a financial friend. Our commitment to
the customers, employees and other stakeholders
stems from our deep-rooted belief and the sense of
responsibility to contribute towards different areas
of the social sector. We see it as giving something
back to the nation which helps us flourish. In this
way, the society and the people we touch, grow
with us.”
Organizational Structure Of
Head Office
Askari’s StratigiesTo Attract Customers
Askari Bank seeks to maintain high standards of service and ethics enabling it to be perceived as
ethical and independent. In addition to the general guidelines, the following are the salient
features of the Bank’s code of ethics and conduct.
Presence of a corporate culture that seeks to create an environment where all persons
are treated equitably and with respect.
Employees do carry out their responsibilities in a professional manner at all times. They
must act in a prudent manner and must avoid situations that could reflect unfavorably on
themselves, the Bank or its customers.
Employees do commit to the continued development of the service culture in which the
Bank consistently seeks to exceed customers’ expectations. Fairness, Truthfulness and
Transparency govern our customer relationships in determining the transactional terms,
conditions, rights and obligations.
Employees do safeguard confidential information which may come to their
possession during the discharge of their responsibilities. Respect for customers'
confidential matters, merits the same care as does the protection of the Bank's own
affairs or other interests.
Employees do ensure that know your customer principals are adhered by obtaining
sufficient information about the customers to reasonably satisfy ourselves as to their
reputation, standing and the nature of their business activities.
Employees do avoid circumstances in which their personal interest conflicts, or may
appear to conflict, with the interest of the Bank or its customers. Employees must never
use their position in the Bank to obtain an advantage or gain.
Employees do not enter into an agreement, understanding or arrangement with any
competitor with respect to pricing of services, profit rates and / or marketing policies,
which may adversely affect the Bank's business.
Employees do not accept gifts, business entertainment or other benefits from a
customer or a supplier / vendor, which appear or may appear to compromise commercial
or business relationship.
Employees do remain alert and vigilant with respect to frauds, thefts or illegal activities
committed within the Bank premises.
DESCRIPTION
Communication:
Communication is the transfer and understanding of meaning (Transfer means the message was
received in a form that can be interpreted by the receiver. Understanding the message is not the
same as the receiver agreeing with the message.
FUNCTION OF COMMUNICATION
Control:
According to Askari manager he said that
“We control our staff with good attitude and politeness”
ASKARI have qualified managers who are responsible control even smaller and bigger
situations.
Motivation:
ASKARI Organization motivates their employees by giving them facilities.
They give them incentives and bonuses for motivation.
ASKARI officers also get promotions from the organization.
Information:
ASKARI has all channel networks.
Emotional expression:
ASKARI have less emotional expression
ASKARI‘S INTERPERSONAL COMMUNICATION
This communication is between Group head operation and credit and Group head
operation corporate banking and financial institution
Group head operation and Group head operation
credit corporate banking and
financial institution
SENDOR RECIEVER
Sender:
The director general manager of ASKARI encode message by Group head operation using
different symbols and language communicate to Group head operation corporate banking and
financial institution
.
Channel:
They use face to face communication method to communicate with each other.
Receiver:
Receiver is the deputy managing director of Askari in the chart above. Decode message in his
own language that deliver from director general manager.
Feed back:
The board of director of Askari has organized many occasions and facilities for employees and
they also have and complain box by which they know the barriers and difficulties in their
communication.
Which situations they are using in these methods?
Only for official use they use company‘s phone. When there is official work the officer wants to
call any employees for any reason he use it.
Why they are using?
ASKARI is using it because they wanted to have accurate and easily transferable data and
information even in a minute.
MEDIUM OF COMMUNICATION
They use E-mail, fax, Telephone, Cell phones, Group meeting, Face to face.
E-mail:
They use E-mail when they transfer the data outside the country.
Fax:
They use Fax when they transfer the data urgently to the top management and also in rural areas
where Net is not available.
Telephone:
They use telephone for official and sometimes unofficial work.
Cell Phone:
Askari employees use Cell phone when there is something confidentially information. Then they
use it to transfer the information to the top management of the organization.
Group Meeting:
They held Group meeting for communicating their ideas for short term or long term planning and
also for the improvement and progress for their organization.
Face to face:
When there is a problem or any manager or non managerial staff wanted to take advice from top
management so they come face to face.
BARRIERS IN COMMUNICATION
Languages:
Because of different language they faces language barrier.
Generation gap:
Because of generation between old age and young employees it is a barrier to communicate
effectively.
Filtering:
When the lower level employees transfer data and information to upper level he filters it and then
it becomes a barrier in communication.
Emotions:
There are some strict managers in ASKARI because of them the employees do not communicate
with them effectively so it is a barrier in communication.
HOW THEY OVERCOME THOSE BARRIERS?
Simplify Languages:
They have trained special class of employees to remove the barrier in communication. And they
are trying it and they are getting success in it day by day.
Generation gap:
They have many programs and seminars in which all the employees are put together of same
different ages to remove barrier in communication.
Filtering:
It is process to remove but they don’t have any ideas and any procedure or method to remove it.
Constrain Emotions:
To constrain emotion organization is unable do anything.
NONVERBAL COMMUNICATION
Sound:
They have alarm system and a alarm for vacant the building if anything goes wrong the alarm
will started to ring because the management will know that anything is going wrong.
Images:
They have signs in organization which encourages their employees and all to.
Behavior:
The behavior Askari employees and administration is very good.
Clothing:
The officers of Askari have identity cards and the non managerial staff such as drivers, peons
and guards have uniforms. The logo on the ID cards and non managerial employee’s uniforms
shows the purpose and working of ASKARI.
JARGONS
Every organization has jargons. ASKARI also have jargons which are known by the top
management only.
FLOW OF INFORMATION
Upward communication:
They have upward flow of information when non managerial and lower level management
transfer and send data to upper level and this is called chain network.
Downward communication:
ASKARI top level management when they required information to the lower level they use
downward flow of information.
For example:
If in ASKARI the top level manager wants to announce holiday he will contact to lower level IT
employees to send it other.
Literal communication:
In ASKARI the employees of the same status share data with each other MOSTLY.
Diagonal communication:
In ASKARI there is diagonal flow of information also because the top level management has
fixed time for lower level to come and share information.
COMMUNICATION NETWORK
Chain network
It is use by the ASKARI when they transfer written information to the top level from the lower
level the information is send step by step to the top management.
Wheel network:
There is no wheel network in ASKARI.
All Channel network:
It is mostly use in ASKARI because the lower and top level has both full freedoms to
communicate with each other.
GRAPEVINE
Gossips:
ASKARI employees do gossips at lunch time at work time they don’t gossip. They have sitting
area where at free time or lunch time they sit and chat.
Informal communication:
They often have informal communication but at the most of the time they have formal
communication. ASKARI have social activities programs for its employees.
BIBLIOGRAPHY
Bibliography includes primary and secondary data we take information from both.
Primary data:
Primary research is the type of researcher in which the researcher needs to go out to collect the
data in the form of the interviews, questionnaires.
Kinds of Primary Research
Following are the kinds of primary research, the students used to select these kinds to complete
the research accurately:
Interviews:
We got a know from the interview of the ASKARI employees and Director General Manager
that they mostly communicate by all means of communication. The attitude of the DRM was
very good which shows that he is a good person and communicator.
Surveys:
From the survey we have concluded that in ASKARI even if we see the reception they also have
good communication with the staff and the persons who are coming to the visit any department
of the ASKARI they are easily send by the receptionist to any department easily.
Observations:
We observer that there security is high and they have latest things but some of their employees
were not well dressed and well communicative the way they should be in such a big
organization.
Analysis:
Every organization has it own means and ways of communication the way we find ASKARI is
that it is a huge and giant organization which is using effective means of communication even
they are old or new they are using it but they also know when to use them. This is the reason of
their success.
SECONDARY DATA
We take information from ASKARI website
[Link]
we also use [Link]
SUGGESTIONS
The bank should improve and increase its branch network in Pakistan as
well as in foreign countries.
More and more facilities should be offered to general public instead of a
specific group of society.
Bank should increase its advances by financing small-scale businesses to
earn better profit.
House building finance facility should be offered to general public.
The number of lockers should be increased.
There should be female staff members in Bahawalpur branch.
Training of the staff should be carried on regular basis in the field of
banking and operating computers.
Bank should establish a separate marketing department in each branch.
Although bank has agency relations with the foreign banks but it should
open its foreign branches to compete with the competitors.
Time period of the loan procedure should be reduced.
Special awards should be given to hardworking employees to perform
extra ordinary in the bank.
Instead of preferring the old employees of the other banks management
should hire new and well-educated talent. This will contribute to the long-term benefits of
the bank.
Credit policy should cover both the rural and as well as urban areas.
While hiring and promoting the employee’s, discrimination should not be
done only merit should be considered.
Complicated loan procedure should be replaced with an easy one keeping
in view the risk factor.
To overcome the problem of workload new appointments should be made.
Returns on the term and fixed deposits should be increased to the level
of competitors.
CONCLUSION
After the completion of my overall analysis and studies of Askari Commercial Bank
performance and banking system, I come to the conclusion:
The ACBL is a leading commercial bank of Pakistan. It has won the rewards like:
“The Best Bank In Pakistan”
“Best Consumer Internet Bank”
From the opinion of international organization the overall strong standing of the bank is
very clear. It won a certificate from Pakistan Credit Rating Agency (PACRA) A1 in short run in
and AA long term even in these worst conditions of economy the bank is enjoying the huge
profits of amount Rs. 2,022 Million. Total assets of the bank are increased up to 145,099 billion,
but the shareholder’s return and Earnings per Share have decreased from last year.
The bank is fully equipped with the modern technology and it is also providing all the
latest banking services like online banking, Internet banking, ATM cards, traveler chouse, and
credit cards etc.
The bank is trying to introduce latest techniques on regular basis because it is backed by
AWT that’s why people have complete confidence on them. ACBL has won the confidence of all
its customers by providing them the online services within few seconds. The future of bank is
progressive and will be a leading bank of Pakistan even competing with foreign banks.
