Internship Report on Janata Bank

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Historical Background of the organization
Janata Bank Limited is the 2nd largest state owned commercial bank in Bangladesh. Immediately after the emergence of Bangladesh in 1971, the erstwhile United Bank Limited and Union Bank Limited were named as Janata Bank. It was established under the Bangladesh Bank order 1972. During the privatization process it was incorporated as a public Limited Company on 21, May 07 vide certificate of incorporation No-C66933(4425)07. The Bank has taken the over the business of Janata Bank at a purchase consideration of Tk. 2593.90 million as a going concern through a vendor agreement signed between the Ministry of Finance of the Peoples’ Republic of Bangladesh and the Board of Directors on behalf of Janata Bank Limited on 15th November 2007. Janata Bank Limited operates through 851 branches including 4 overseas branches at United Arab Emirates and a subsidiary company named Janata Exchange Company Srl in Italy. It is linked 1202 foreign correspondents all over the world. * Janata Bank Limited operates through 886 branches including 4 overseas branches at United Arab Emirates. It is linked with 1202 foreign correspondents all over the world. * The Bank employees more than 15(fifteen) thousand persons. * The mission of the bank is to actively participate in the socio- economic development of the nation by operating a commercially sound banking organization,  providing credit to viable borrowers, efficiently delivered and competitively priced, simultaneously protecting depositors funds and providing a satisfactory return on equity to the owners. * The Board of Directors is composed of 13 (Thirteen) members headed by a Chairman. The Directors are representatives from both public and private sectors. * The Bank is headed by the Chief Executive Officer & Managing Director, who is a reputed banker. * The corporate head office is located at Dhaka with 10 (ten) Divisions comprizing of 38 (thirty eight) Departments

Mission:
To be recognized as the leading commercial bank in the Bangladesh market providing retail and corporate banking services and as a trusted and respected partner in the social and economic development program of our nation. Vision:

To become effective largest commercial bank in Bangladesh to support socio-economic development of the country and to be a leading bank in South-Asia.

Nature of business
The Bank provides all kinds of commercial banking services to its customers including accepting deposits, extending loans & advances, discounting & purchasing bills, remittance, money transfer, foreign exchange transaction, guarantee,commitments etc. The principal activities of its subsidiary Janata Exchange Company Srl. Italy (JEC) is to carry on the remittance of hard-earned foreign currency to Bangladesh. Another subsidiary company Janata Capital and Investment Limited, Dhaka is to act as issue manager, share underwriter and portfolio manager. The Bank has opened an NRB branch at Motijheel, Dhaka to render exclusive service to non resident Bangladeshis.

Subsidiaries of the Bank
Janata Bank Limited has two 100% owned subsidiaries named Janata Exchange Company Srl. Italy and Janata Capital and Investment Limited, Dhaka, Bangladesh. Janata Capital and Investment Limited, Dhaka

The consolidated financial statements of the Group and the financial statements of the Bank as at and for the year ended 31 December 2011 have been prepared under the historical cost convention and in accordance with Bangladesh Financial Reporting Standards (BFRSs), the 'First Schedule' (section no. 38) of the Bank Companies Act 1991, as amended by the BRPD Circular no. 14 dated 25 June 2003, other Bangladesh Bank Circulars, the Companies Act 1994, the Securities and Exchange Rules 1987 and other laws and rules applicable in Bangladesh. In case the requirement of provisions and circulars issued by Bangladesh Bank differ with those of other regulatory authorities and...
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