Overview of the Banking System of NCC Bank

Abstract

There are fifty four banks, consist of Six State-owned Commercial Banks, Thirty Two Private Commercial Banks, Nine Foreign Commercial Banks and Seven Specialized Development Banks, competing in the banking industry of Bangladesh. All of these banks are helping to strengthen the business and economic demonstration of our country. To understand the overall banking system, working with any of the banks is necessary and I got the opportunity to work with NCC Bank Limited for twelve weeks as an intern. From my experience of working with them, a bank's relationship with a client starts with Opening of an account. Then transactions of that account are done through remittance. A client can deposit or withdraw money specified by some rules according to the category of clients. These clients also can borrow money from bank if the client can show his necessity and enough security. Also a client can lead foreign transactions through a bank. Moreover, in this improving trend of technology, a client can connect to his bank from anywhere at any time through the banks online banking and card facility. Banks also gives some additional services like bills collection, agency relationship and different statement preparations etc. As banking is an industry which deals with money, it is always been necessary for them to maintain enough security of money. To maintain this security, they asks different questions and works on collecting personal and business information of their current and potential clients. At the end, together banks have to maintain all the above tasks efficiently to implement an efficient banking system, which will lead them to earn enough revenue through satisfying its customers.