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Internship report submitted to the Assistance director of academic in partial fulfillment for the requirement of the degree of masters in commerce.
October 2010
PREFACE
Two months internship program is an integral part of M.Com semester program, which carries three credit hours 100 marks towards the results. Students are required to submit an internship report and take viva voice examination, and would not be granted M.Com semester degree unless they have satisfactorily completed the internship. The purpose of this training is to prepare M.Comers in a manner that they should have practical knowledge of their courses of studies & the practical aspects, to be beneficial for their future. I underwent the training at the BOP Small Industrial Estate Branch (G. T road branch) Gujrat I am thankful to the internship in charge, the staff members of this branch in general and in particular and especially to MR. Amjad Farooq (Manager), who gave me full opportunity to learn all the transactions of the bank and taught me how to work in the practical field. He also gave continuous and proper support and help in preparing this internship report.
Dedication
I dedicate this report to my family, teachers, Friends and to the dedicated and cooperative staff of The Bank of Punjab.
Executive summery
To interpret my skills and educational knowledge of Accounting I have done my internship in Bank of Punjab Gujrat and to know how I will work in financial institutions and among various types of people have different attitude. The objective of this Internship was to explore the issues relating to Finance and to find out problems regarding the theoretical concepts with practical experience working in an organization during the internship and study the system of Bank of Punjab. There are many possible improvements, which we can make positive changes in the system. The report based on my two months internship program in Bank of Punjab. The methodology reported for collection of data is primary as well as secondary data. The biggest source of information is my personal observation while working with staff and having discussion with them. The report summarizes description of the BANK OF PUNJAB, theory and practices adopted by BANK OF PUNJAB and financial position of BANK OF PUNJAB, its analysis and at the end concluding remarks and suggestions are given for improvements. It was too much difficult for me to describe the functioning of such a vast organization within the limits. In spite of this, I tried my best to describe. Finally, for any all too fallible errors, omissions and shortcomings in the writing of the report only I am responsible, for which I hope that all concerning regards of this report will forgive us. Rehan Kabir M.COM (B)
ACKNOWLEDGEMENT
All praises and thanks to Almighty Allah, the Lord and creator of this universe by whose power and glory all good things are accomplished. He is also the most merciful, who bestowed on me the potential, ability and an opportunity to work on this report. I owe our profoundest thanks to my teachers, I feel blessed to have them as my teacher, whose strength and wisdom I learn up to and no doubt, experience of work with them is far better than I believed possible. I am also grateful to Mr.Amjad Farooq (branch manager), Mr. Javed Iqbal (manager operation), Mr.Zahid (officer), Mr. Tayyab (A.C.O), and Mr. Naveed Butt (cashier) for their continued guidance and encouragement. Last but not the least; ordinary words of gratitude do not encompass the true love and guidance extended to our loving and caring parents. Their constant interest, prayers and encouragement have been a very strong support for me and have enabled me to finish our course work.
Table of Contents Chapter # 1 INTRODUCTION TO THE BANKING SECTOR 1. INTRODUCTION 10 1.1 BANKING HISTORY 10 1.2 SCOPE 11 1.3 Purpose 11 1.4 Role of Banking 12 SUMMARY 13 Chapter # 2 BANKING IN PAKISTAN INTRODUCTION 14 2.1 BANKING SECTOR IN PAKISTAN14 2.2 ROLE OF BANKING IN PAKISTAN...15 2.3 FUNCTIONS OF BANKS IN PAKISTAN15 2.3.1 Receiving deposit ....15 2.3.2. Advancing Loans: 16 2.4 BANK IN WHICH I WAS WORKING 16 SUMMARY ..17 Chapter # 3 INTRODUCTION TO THE BANK OF PUNJAB INTRODUCTION 18 3.1 HISTORY OF THE ORGANIZATION 18 3.2 FUNCTION PROVIDED BY BANK OF PUNJAB 18 3.3 NUMBERS OF DEPARTMENTS 19 3.3.1:- CASH DEPARTMENT 19 3.3.2:- DEPOSITS DEPARTMENT 19 3.3.2.1 Saving Deposits 20 3.3.2.2 Current or Demand Deposits..20 3.3.2.3 Fixed or Term Deposits...20 3.3.3:- ACCOUNT OPENING DEPARTMENT..21 3.3.4:- REMITTANCE DEPARTMENT21 3.3.4.1 Payment Order (PO)22 3.3.4.2Demand Draft (DD) .22 3.3.4.3Mail Transfer (MT) .22 3.3.5:- BILLS DEPARTMENT .22 3.3.6:- CLEARING DEPARTMENT .23 3.3.7:-CREDIT DEPARTMENT .24 3.3.7.1 Agriculture Loans .....25 3.3.7.1 Consumer Loans .25 3.3.8:-FOREIGN EXCHANGE DEPARTMENT .26 3.4:-BRANCHES .26 3.5:-CURRENT STAFF .27 3.5.1:- Current staff of the branch .27 3.5.2 Number of employees .28 3.6 CRITICAL ANALYSIS OF THE BRANCH .28
O er at in g G r a d e I
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1.2 SCOPE
Exposure to worldwide competition and deregulation in financial sector has led to the emergence of better quality products and services. Reforms have changed the face of banking and finance. The banking sector has improved manifolds in terms of capital adequacy, asset classification, profitability, income recognition, provisioning, exposure limits, investment fluctuation reserve, risk management, etc. (Financial-and-insurance-sector Indian articles, 2010)
1.3 PURPOSE
Banking business providing financial services to consumers and businesses. The basic services a bank provides are checking accounts, which can be used like money to make payments and purchase goods and services; savings accounts and time deposits that can be used to save money for future use; loans that consumers and businesses can use to purchase goods and services; and basic cash management services such as check cashing and foreign currency exchange. Four types of banks specialize in offering these basic banking services: commercial banks, savings and loan associations, savings banks, and credit unions. A broader definition of a bank is any financial institution that receives, collects, transfers, pays, exchanges, lends, invests, or safeguards money for its customers. This broader definition includes many other financial institutions that are not usually thought of as banks but which nevertheless provide one or more of these broadly defined banking services. These institutions include finance companies, investment companies, investment banks, insurance companies, pension funds, security brokers and dealers, mortgage companies, and real estate investment trusts. This article, however, focuses on the narrower definition of a bank and the services provided by banks in Canada and the United States. (For information on other financial institutions, see Insurance; Investment Banking; and Trust Companies.)Banking services are extremely important in a free market
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SUMMARY
Banking business provides financial services to consumers and businesses. Four types of banks specialize in offering these basic banking services: commercial banks, savings and loan associations, savings banks, and credit unions. This article, however, focuses on the narrower definition of a bank and the services provided by banks in Canada and the United States. (For information on other financial institutions, see Insurance; Investment Banking; and Trust Companies.) Banking services serve two primary purposes. First, by supplying customers with the basic mediums-of-exchange (cash, checking accounts, and credit cards), banks play a key role in the way goods and services are purchased.
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SUMMARY
The banks plays role for economic development. Due to banking system economy is develop because it provides facilities for different people and investors. Banks perform many functions such as receiving deposit, advancing loan which is important function of the commercial banks in which short term loan are given at high rate of interest. Banks allows their trustful customers to draw more than the deposit they have in the Bank. Bank charges interest on overdraft. Bank also gives credit against immovable property and interest is charge by the bank. This is income source of bank to discount bills of exchange.
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Chapter # 3
The act provided the foundation on which structure of the bank created. The entire responsibilities of policy formulation and management had been place, under the act, with the board of directors. The bank comprises ten directors, out of which six directors are appointed by the government (three of civil service and three prominent personalities from the Industry, Agriculture, and Commerce etc.) The remaining four directors elected amongst shareholders, the criteria for which already been laid down in the act.
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Outward Clearing The instrument collected or stored bank wise and a schedules is prepared separately for each bank mentioning the total number of instruments and the amount of the instruments. Then these are recorded in a register called OUTWARD CLEARING REGISTER then a main schedule is prepared showing the total number of cheque and their aggregate amount being presented in the clearing. The cheque/instruments are handed over the clearing branch. Central clearing branch issue CREDIT ADVICE to the branch for passing credit to its customer immediately. The branch on receiving credit advice debits the clearing account and credits the respective customer accounts. Inward Clearing On receiving cheque/instruments from central clearing branch, the clearing incharge checks the number and amount of cheques received in clearing and it must tally with the main schedule received from central clearing branch. These cheques/instruments are entered in INWARD CLEARING REGISTER for the cheque/instrument passed in clearing is a credit advice for the aggregate amount of cheque passed in clearing is prepared, drawn on central clearing branch. 3.3.7:-CREDIT DEPARTMENT The bank is profit seeking institution. It attracts surplus balance from the customer at low rate of interest and makes advances at a higher rate of interest to the individuals and business firms. Credit extensions are the most important activity of all the financial institutions, because it is the main source of earnings. Credit departments is one of the most sensitive and important
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3.3.7.1 Agriculture Loans 3.3.7.2 Consumer Loans BOP Quick Cash BOP Quick cash is a running finance facility provided to salaried persons through their bank accounts for miscellaneous personal uses. Through this facility a borrower can get Rs. 50,000/- to Rs. 500,000/- based on his/her income. Tenure of this facility is up to 1 year. (Bop quickcash.aspx, 2010) BOP Car Loan BOP car loan is a demand financing facility to purchase brand new locally manufactured/Assembled cars for personal use. This facility can be availed by salaried person of different nature and by the businesspersons. Through this facility a borrower can get Rs. 200,000/- to Rs. 5,000,000/-. Tenure of this facility is from 1 to 5 years. (Bop carloan.aspx, 2010) BOP Aasaish Loan BOP Aasaish loan is demand finance facility for purchase of consumer durable goods like TV, Refrigerators, Mobiles, Microwave Oven, Fans, Audio/Video system from selected companies on banks panel. In this facility, a borrower can get up to Rs. 500,000/-with no down payment. The financing tenure of this facility is up to maximum 3 years. (Bop aasaishloan.aspx, 2010)
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3.4:-BRANCHES
Today, they established 272 Branches all over the country as:
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3.5:-CURRENT STAFF
Name
Mr. Abdul Ghafoor Mirza Mr. A.Z.K Sherdil Mr. Farooq Ahmed Awan Mr. Naeemuddin Khan Mr. Shafqat Mahmood Mr. Tariq Mahmood Pasha Mr. Viqar Ahmed Khan Mr. Raza Saeed
Designation
Director Director Director President Director Director Director Secretary to the Board
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(The Bank of Punjab Annual Report 2008) 3.6 CRITICAL ANALYSIS OF THE BRANCH
Although it was a great experience of working with the team of BOP, Gujrat branch (0230), but during my internship in BOP, I have found some problems, which hinder the success and effectiveness of the branch.
O er at in g G r a d e I
3.6.2.2Employees honesty:
The bank or branch faced risk by employees honesty if the two or more employees have blood or close relations with each other. Some of their employees are working long time with each other or posted only in one branch for long time. All this is dangerous to the bank and they make frauds and misconduct in the bank. Few employees could not lock their system and not close their bank ids. Through this other person get benefit and make wrong transitions.
3.6.2.3Management Risk:
The senior employees working in the organization are not well aware of the computing systems. The management could not manage the issues arises in the bank. Those persons who newly employed or working from a few past years only knows proper use of this technology.
(a)
Systematic Risk:
it is the risk which is due to the factors which are beyond the control of the people working in the market and that's why risk free rate of return in used to just compensate this type of risk in market.
Unsystematic Risk:
This is the risk other than systematic risk and which is due to the factors which are controllable by the people working in market and market risk premium is used to compensate this type of risk.
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3.7 PERFORMANCES
Performance of the bank of Punjab decrease due to the old and less educated staff they dont know how to refresh the customer mind so that tell others about the branch performance. Branch staff not guide them what type of account you have to suit for business and help them in their business problems. (Bank-of-Punjab-analysis, 2010)
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SUMMARY
The Bank of Punjab functions as a scheduled commercial bank, with a network of 272 branches in major business centers throughout the country. It provides a wide range of banking services, including deposit in local currency; client deposit in foreign currency; remittances; and advances to business, trade, industry and agriculture. The Bank of Punjab established under an act of Punjab Assembly, viz. The Bank of Punjab act, 1989. The Bank of Punjab provides all types of banking services such as deposits in local currency and foreign currency, remittances, and advances to business, trade, industry and agriculture. The bank of Punjab has different department Cash Department which deals to the cash receipt and payment, Deposits Department deals with the amount deposit in account holder, account Opening Department deals with the new account opening in respect of some reference ,Remittance Department deals with the transfer of money ,Bills Department deals with the collection of bill of exchange, utility bill Clearing Department include inward and outward clearing Credit Department provides loans Foreign Exchange Department deals with the transfer of money from one country to another.
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4.4 Success
Due to the high cooperation and good relation with the industrial sector, the bank of Punjab G.T road branch has highest account holder like metro industries, Inayat Fan, china ceramics, and concept furniture etc. that has more than 20 million in their account balance. With capturing the big account holder bank also has so many small account holder in which mostly are the pension holders as well as the saving account holders. (Discussion with branch manager and staff, 2010)
Summary
The policies of bank of Punjab are to get the knowledge of the customers and stop the money, which illegally transferred. The bank is performing its business in conformity with the regulatory requirements issued by the SBP & controlling agencies at one hand and international KYC / AML policies & standards on other. Banks of Punjab adopt different kind of policies to capture the new account holder as well as take care of the existing customers so that the efficiency of the bank is improved. By using these strategies the bank achieve different kind of success in their operational area.
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Chapter #5
ANALYSIS
5.1 SWOT ANALYSIS
5.1.1 STRENGTHS
The Bank officers of BOP are considered as one of the most able
professionals in the banking world (some belong to BCCI). However, they have added some local flavor in accordance with their targeted segmented. In my observation that they interact with their clients as if they are their friends and discuss about their problems as their own. (Kalim Ullah Butt, 2010) Because of the compassionate and personalized services of the officers, the clients perception for BOP is very high. They have trust and feel themselves to be secure while dealing with BOP. (Sheikh Fazal, 2010)
BOP has opened all its branches at commercial areas so that the
customers or clients face no problems in reaching to the bank. For example, G.T Road Branch is being situated in business and commercial hub of Gujrat as big volume in trade. (Tariq Rafique, 2010)
BOP has a reliable and easy to use internal computer system. Every
information regarding the transactions in customers deposits has been computerized. Data are properly maintained. (Amjad Farooq, 2010) Good security system (Sheikh Fazal,2010)
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BOP has formulized a lot of products and services for its customers,
even more than other commercial banks, but any advertisement on electronic media has not been seen. (Kalim Ullah, 2010) I observed during my internship that some of the employees were burdened with over work. Therefore, I think that the work should be distributed according to their post and capabilities.
Biased selection of employees. (Amjad Farooq, 2010) 5.1.3 OPPORTUNITIES: Satisfy dynamic consumer needs, BOP has made significant inroads in
its entire service spectrum. Many products have been introduced especially in Retail Banking (Agriculture side) and people are increasingly becoming loyal to the bank and because of feasible transactions. Optimum pricing and branding strategies of the bank are helping to make customer feel secure and convenient.(Tariq Rafique,2010)
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2005
2353 6777
2006
3804 10659
2007
4446 15110
2008
(10060) 5057
= 30.95 Comments
= 34.72
= 35.69
= 29.42
= (1.99)
There is upward trend in ROE during in 2004 to 2006 due to upward trend in net profit after tax of the bank during this period. In 2007, the bank shows upward trend in net profit after tax but ROE remains lower than previous years due to disproportionate changes in net profit after tax as compared to shareholders equity. In 2008 ROE again shows downward trend by showing negative value -1.99%. Reason of this negative ROE is the loss to the bank in 2008. Trend of this ratio shows growth in earning the shareholders on their investment during 2004 to 2006, lesser earning in 2007 and loss in 2008.
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2005
2353 111154
2006
3804 164855
2007
4446 234974
2008
(10060) 185909
= 2.06 Comments
= 2.12
= 2.31
= 1.89
= (5.41)
There is upward trend in ROI during in 2004 to 2006 due to upward trend in net profit after tax of the bank during this period. In 2007 the bank shows upward trend in net profit after tax but ROI remains lower than previous years due to disproportionate changes in net profit after tax as compared to shareholders equity. In 2008, ROI again shows downward trend by showing negative value -5.41%. Reason of this negative ROI is the loss to the bank in 2008. Reason of this negative ROI is the loss to the bank in 2008. Trend of this ratio shows growth in earning power of the bank for the invested capital during 2004 to 2008.
2005
7456 111154
2006
14533 164855
2007
22962 234974
2008
21753 185909
= 0.06 Comments
= 0.07
= 0.09
= 0.10
= 0.12
There is upward trend in total assets turnover ratio during 2004 to 2008. During 2004 to 2007, upward trend is due to more rapid growth in total income of the bank as compared to growth in total assets. In 2008, downward trend in total assets as compared to total income keeps this ratio upward.
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2005
3165 4787
2006
4769 7024
2007
4846 9023
2008
(16833) 5322
= 59.19 Comments
= 66.11
= 67.89
= 53.71
= (316.29)
There is upward trend in profit before tax to total income ratio during 2004 to 2006. During 2004 to 2006, upward trend is due to growth in profit before tax of the bank during this period. In 2007, more upward trend in total income as compared to profit after tax tends this ratio downward in this year. In 2008 loss to the bank results this ratio in negative vale. Trend of this ratio shows effectiveness of the banks management for controlling the expenses and converting the income into net profit before tax during 2004 to 2008.
2005
2353 4787
2006
3804 7024
2007
4446 9023
2008
(10060) 5322
= 46.65
= 49.16
= 54.16
= 49.27
= (189.03) 38
2005
6791 111154
2006
6989 164855
2007
17843 234974
2008
12279 185909
= 0.04
= 0.06
= 0.04
= 0.08
= 0.07
Comments
There is upward trend in debt to assets ratio during 2004 to 2005 and during 2006 to 2007. This upward trend is due to more growth in total debt of the bank during this period as compared to total assets. There is downward trend in debt to assets ratio during 2005 to 2006 and 2007 to 2008. This downward trend is due more rapid growth in total assets of the bank as compared to total debt burned during these periods. In 2008, some progress is observed in reduction of debt burden of the bank but there is slight loss of total assets of the bank that keeps this ratio at 0.07 times in this year. Trend of this ratio shows the relative extent to which the bank is using the borrowed money during 2004 to 2008.
2005
6791 6777
2006
6989 10659
2007
17843 15110
2008
12279 5057
= 0.64 Comments
= 1.00
= 0.66
= 1.18
= 2.43
There is upward trend in debt to equity ratio during in 2004 to 2005. In 2005, more rapid growth in long-term debt as compared to shareholders equity resulted in upward trend of this ratio. In 2006 this trend reversed and shareholders equity showed more growth than long-term debt and hence this ratio goes down in this year. During 2006 to 2008, again, banks long-term debt showed much growth than the equity and hence the trend of this ratio goes upward in this period. Trend of this ratio indicates the extent to which debt financing is used by the bank relative to equity financing during 2004 to 2008.
Calculations
Criteria Rs.
2004
1368174 150680
2005
2353242 235089
2006
3804255 289517
2007
4454018 423789
2008
10084940 525257
= 9.08
= 10.01
= 13.14
= 10.51
= (19.02)
Comments 40
2005
3165 88465
2006
4769 137728
2007
4846 191969
2008
(16833) 164073
= 3.17 Comments
= 3.58
= 3.46
= 2.52
= (10.26)
There is upward trend in return on deposits ratio in 2004 to 2005. In 2004 to 2005, upward trend is due to more relative growth in net profit before tax of the bank as during this period as compared to total assets. During 2005 to 2007 less development trend in net profit before tax as compared to total assets tends this ratio downward in this period. In 2008, loss to the bank results this ratio in negative vale. Trend of this ratio indicates to what extent deposits which represent funds mobilization on the part of the bank contribute towards income generation during 2004 to 2008.
Calculations 41
Criteria %
2004
719 54724
2005
2669 88465
2006
7509 137728
2007
13939 191969
2008
16614 164073
= 1.31 Comments
= 3.02
= 5.45
= 7.26
= 10.13
There is upward trend in total interest expenses to total deposits ratio during 2004 to 2008. During 2004 to 2008 upward trend is due to more rapid growth in total interest expenses of the bank as compared to total deposits during this period. Trend of this ratio shows interest expense paid on part of different types of deposits during 2004 to 2008.
2005
6125 63624
2006
11579 101320
2007
17539 133894
2008
17753 131731
= 6.48 Comments
= 9.63
= 11.43
= 13.10
= 13.48
There is upward trend in total interest income to total advance (net) ratio during 2004 to 2008. During 2004 to 2007 upward trend is due to more rapid growth in total interest income of the bank as compared to total advances (net) during this period. In 2008 total interest income of the bank increases but total advances (net) figure show downward trend that keeps this ratio upward in this year. Trend of this ratio shows the relative extent to which interest was earn on advances during 2004 to 2008.
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Teamwork: A team player can achieve more than an individual. Good coordination and cooperation with peers and other staff members can impulse a person to perform better in difficult situations. During my internship, I noticed that the degree of cohesiveness among the banks employees is high, that is why Punjab bank is achieving its target quite efficiently. Ever Ready For Challenges: If a person can handle problems and challenge adequately, he can grow especially in marketing field where everything is presently dynamic. Broad Visualization: Positive thinking helps us to remove any inconsistency and obstacles in your work. Positive thinking and broad visualization helps you to achieve something different and new. Always Create Opportunities: Dont wait for opportunities always create opportunities
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Chapter 6
6: FINDINGS AND RECOMMENDATION
6.1 Findings
During internship training period, I had found the following weaknesses: B) Some employees in the bank just do the same job, they become the master of practicing job but they know almost nothing or lose their knowledge about other jobs. C) The bank pays high profits to its customers and provides excellent services but there is lack of publicity of its services on the part of the clients. D) The pay scale of The Bank of Punjab employees is less than other banks, which is an indication of discouragement among employees. E) The employees have not access to higher authorities and a large hierarchy of persons is involved. This creates frustration in employees in solving their problems. F) The size of almost all branches of The Bank of Punjab is very small. It creates difficulty for the customers as well as staff members for proper dealings, which always gives a congested atmosphere.
6.2 Recommendations
It was a interesting experience to do internship in The Bank of Punjab. The staff was highly cooperative and due to their help I learned big deal about modern banking I suggest that such an internship program is highly integrative for the student of commerce / business education. So that the student should be acquired with the knowledge of the practical world. I do summarize that it would be a great help to me in selection of job or future field of work. Here I am putting some suggestions, which will enable the Bank to compete with other banks, more effectively and more efficiently.
1. The employees should assigned jobs for specific period and then they
should shift to other department so that can gain knowledge of other jobs.
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3. The Bank management should give more incentives and pay scale of
officers should revise and improved.
4. In order to enter fast moving world, the bank must be fully equipped with
advanced technology.
5. The size of all branches must enhance and working conditions should
improve. It will increase the productivity and efficiency of the employees and the bank will get more benefits after some expenditure.
6. Some people in the bank over burdened with work. For this, the work
should divide equally and in some cases, more employees should employ.
7. In main cities the bank should start cash counter as well as ATM facilities
to compete with other banks. (The bank of Punjab reports.)
References
(Banking, 2010) http://www.nos.org/Secbuscour/15.pdf dated: - 15 July, 2010. (History-of-banking-and-finance, 2010) http://finance.mapsofworld.com/finance/finance-and-banking/historyof-banking-and-finance.html dated: - 15 July, 2010. (Financial-and-insurance-sector Indian articles, 2010)
http://www.articlesbase.com/insurance-articles/financial-andinsurance-sector-in-india-468408.html dated: -16 July 2010. (Banking services, 2010) http://anubanking2.blogspot.com/2008_07_01_archive.html dated 3 august, 2010. (Role of banking, 2010) http://www.nos.org/Secbuscour/15.pdf dated 3 august, 2010. (Banking, 2010)
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http://www.malloflahore.pk/index.php?
option=com_content&view=article&id=46%3Abank-ofpunjab&catid=15%3Ashop&Itemid=10 dated: -18 august, 2010 (Bop quickcash.aspx, 2010)
49
www.bop.com.pk/TradeFinance/FCYDealingBranches.aspx 18 dated:
- august, 2010 (The Bank of Punjab Annual Report 2008)
https://www.bop.com.pk/Download/KYC%20AML%20POLICY
dated: - 20 August 2010.
(Kalim Ullah, 2010), (member of audit committee. 22 August, 2010 ) (Tariq Rafique,2010), (in charge of audit committee. 25 August, 2010) (Amjad Farooq, 2010),(manager of bop,0230. 24 August,2010)
(Sheikh Fazal,2010), (member of audit committee. 27 August, 2010 ) Others. Fundamentals of Financial Management (12th Ed.) by James C. Van Horne & John M. Wachowicz, JR. State Bank of Pakistan Official Website. The Bank of Punjab Annual Report FY 2008. The Bank of Punjab Annual Accounts FY 2004, 2005, 2006 & 2007. The Bank of Punjab Credit Policy Manual. The Bank of Punjab Operations Manual.