General banking system of Uttara Bank Limited

Abstract

Uttara Bank Limited has established in 1965 under the name of “Eastern Banking Corporation Limited” with the manifest goal of quickening exchange and interest in the financially frigid eastern wing of the then Pakistan. After the liberation of Bangladesh, the Bank evident a remarkable change and renamed as “Uttara Bank” in March, 1972. In 1983, it was denationalized and become a commercial bank in the private sector under the name of “Uttara Bank Limited”. Banks are playing an important role in a country’s socio-economic development. Uttara Bank Limited is successfully doing its best and contributing into the country’s economy from the time of its establishment. Customer Satisfaction is one of the most important things for progress and succession of any service driven institution. In that case, UBL is very much acquainted. To earn customer satisfaction, they offer variety of services. There are three departments of UBL Principle Branch. Such as- General Banking Department, Foreign Exchange Department and Credit Department. They serve their customers through these three departments. Firstly, the General Banking Department provides services by doing the basic and primary tasks of the bank. This department also consists of three sections: Main cash with cash cell; Deposit section: savings, current, FDR, SNTD, Clearing Bills; Accounts, These primary tasks include account opening, providing master credit card, internet banking, offering different type of schemes to the customers, different type of bills and fees collection etc. (Maduwa, n.d., para. 4) Secondly, the Foreign Exchange department also plays a vital role in serving customers. This department also relies on three section- Export, Import and Foreign Remittance. Thirdly, the credit department has also three different sections i.e. General Loan, Industrial Loan and Loan Recovery. (Maduwa, n.d., para. 5) In service-oriented industry, this is really complicated to strictly proceed with a standard rule and earn customer satisfaction. However, Uttara Bank Limited is efficiently operating its existing products and services to its customers. Compare to other private banks, UBL provides proper quality of service to its clients in a quicker way. Meanwhile, they have made a satisfactory progress in all the areas of business.