A Bank is an economic institution whose main aim is to earn profit through exchange of money & credit instruments. It is a service oriented as well as profit oriented organization. To perform those two functions simultaneously, the Bank divides its operation into several parts. HRM is the most important part of a Bank. Southeast Bank Limited is a scheduled commercial bank in Bangladesh. It established in Bangladesh under the Banking Companies Act, 1991.Southeast Bank Limited (SEBL) is one of the leading private commercial Banks having a spread network 64 branches,15 SME services, 1offshore across Bangladesh and plans to open few more branches to cover the important commercial areas in Bangladesh. The bank has been operating in Bangladesh since 1995 and has achieved public confidence as a sound, stable and trustworthy Bank. This report includes how HRM policies and practices are implemented, what are the possible divisions and work distribution in an HRD, recruitment process, training and development initiatives, how to keep employees motivated as well as how to control insubordinations, compensation and benefits planning, how to lead etc. Southeast Bank has a rich Human Resource Policy. It maintains the organizational responsibilities successfully. The HR team of Southeast Bank is completely organized and well reputed team. My personal views about the HRM Planning and Policy, my value addition to the HRP are also included in the report. With limited knowledge and study I tried my best to make this report as much understandable as possible. The various boundaries to process improvement and maintaining ethical standards in a corporate environment have also been experienced. But even so, how those policies and practices are In-Line with the corporate strategy are discussed in this report. Before drawing any conclusion based on this report it may be noted that the report was prepared in a very short term and there is lack in data. But still the report may be useful for designing any further study to evaluate the HR facilities provided by the Bank.
Banking sectors in Bangladesh
The Jews in Jerusalem introduced a kind of banking in the form of money lending before the birth of Christ. The word 'bank' was probably derived from the word 'bench' as during ancient time Jews used to do money -lending business sitting on long benches.
First modern banking was introduced in 1668 in Stockholm as 'Svingss Pis Bank' which opened up a new era of banking activities throughout the European Mainland.
In the South Asian region, early banking system was introduced by the Afgan traders popularly known as Kabuliwallas. Muslim businessmen from Kabul, Afganistan came to India and started money lending business in exchange of interest sometime in 1312 A.D. They were known as 'Kabuliawallas'.
2.2 Number and Types of Banks in Bangladesh
The number of banks in all now stands at 49 in Bangladesh. Out of the 49 banks, four are Nationalized Commercial Banks (NCBs), 28 local private commercial banks, 12 foreign banks and there stfive are Development Financial Institutions (DFIs).
Sonali Bank is the largest among the NCBs while Pubali is leading in the private ones. Among the 12 foreign banks, Standard Chartered has become the largest in the country. Besides the scheduled banks, Samabai (Cooperative) Bank, Ansar-VDP Bank, Karmasansthan (Employment) Bank and Grameen bank are functioning in the financial sector. The number of total branches of all scheduled banks is 6,038 as of June 2000. Of the branches, 39.95 per cent (2,412) are located in the urban areas and 60.05 per cent (3,626) in the rural areas. Of the branches NCBs hold 3,616, private commercial banks 1,214, foreign banks 31 and specialized banks1,177.
Bangladesh Bank (BB) regulates and supervises the activities of all banks. The BB is now carryingout a reform program to ensure quality services by the banks.
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