An Internship Report On “Letter Of Credit Opening, Lodgment and Retirement Procedures and Performance of Prime Bank Limited"

From the inception of the civilization the banking sector has been dominating the economic development of a country by mobilizing the saving from the general people and channeling those saving for investment and thus economic development and growth. To satisfy the demand as well as to improve the commercial banking service in our country, Prime Bank Limited, a scheduled bank was incorporate to initiate its operation with the aim to play the vital role on the socio economic development of the country.
At present Prime Bank Ltd (PBL) is one of the leading private sector banks in our country in terms of quality services to the customers & value addition for the shareholders. Financial Soundness of any financial institution is the prime concern for its survival in the competitive & changing business environment. This is more important in case of the banking institutions. Prime Bank Limited is a fast growing bank and several times it occupies the first position in CAMEL rating.

I was assigned to PBL, SBC Tower Branch. I have studied "Import Section of Foreign Exchange Department''. While preparing this report I have tried to reveal the insight of the import banking services of the bank. Simultaneously efforts have been made to provide an in-depth analysis on L/C opening, lodgment, retirement procedure and performance of PBL. Finally some recommendations and suggestions were also prescribed based on observations and findings.

The report is mainly divided into two Parts-Organization part & Project part. Organization part reveals an overview of PBL. Details of L/C and a performance analysis of PBL have been described in the project part. No doubt that the yearly growth of import L/C opened in PBL is satisfactory. But I think there are opportunities to earn more profit. PBL should carefully scrutinize the quarterly performance along with estimating the annual gross amount of L/C opened. No research cell is available here to work for this. I recommend taking some experienced marketing officers and executives in marketing division who has experience regarding bank product specially L/C. I do hope that my study will be helpful for the future operation of the import section of PBL.