As the competition is increasing, the commercial Banks are constantly looking for scope to develop credit operation and performance appraisal to the market. In cases where the non-alignment is not so severe, the organization may continue to function, albeit inefficiently. By the same token, appraisal results are used to identify the poorer performers Brac bank performance may require some form of counseling, or in extreme cases, demotion, dismissal or decreases in pay.
Modern Appraisal Performance appraisal may be defined as a structured formal interaction between a subordinate and supervisor, that usually takes the form of a periodic interview annual or semi-annualin which the work performance of the subordinate is examined and discussed, with a view to identifying weaknesses and strengths as well as opportunities for improvement and skills development.
The goods and services sold by Bangladesh to foreign households, businessmen and Government are called export. The human inclination to judge can create serious motivational, ethical and legal problems in the workplace. The bank has computerized and online banking operations under the software called MBS banking operations.
In short, performance and job appraisals are vital for managing the performance of people and organizations. Appraisal Methods Managers usually conduct Brac bank performance appraisal using a predetermined and formal method like one or more methods of performance appraisals described below.
All the directors have good academic background and have huge experience in business.
Not yet to the public. The most commonly used Appraisal Techniques Essay appraisal. The emergence of multinational banks and their rapid expansion poses a potential threat to the new growing private banks.
Employee Viewpoint From the employee viewpoint, the purpose of performance appraisal is four-fold: Therefore they have a training academy that is fully equipped with a professional library, modern training aids and professional faculty.
Saturated product line by competitors Non-banking financial institutions are increasing with diversified products. Directors are appraised by the CEO, who is appraised by the chairman or company owners, depending on the size and structure of the organization.
Forms of communication include coaching, counseling, training and feedback on job performance.
By expanding their business portfolio, BBL can reduce their business risk. Performance expectations should be communicated at the beginning of the review period and reinforced periodically during that period. Appreciating the scarcity of such manpower, the bank from the very beginning laid importance to HRD that conceptually includes activities like: BBL always tries to provide excellent services to its customers.
It does not expose its SME product to general public and are not in lime light. Absenteeism and turnover rates in some organizations might be greatly reduced if more attention were paid to it.
Especially CROs are not satisfied with compensation package provided to them. Performance appraisal can make the need for training more pressing and relevant by linking it clearly to performance outcomes and future career aspirations.
In fact, there is evidence that human beings will even prefer negative recognition in preference to no recognition at all. Lack of advertising and promotion of SME loan: If the bank is not being able to perform than the bank might no bankrupt which would have a significant impact on the economy.
Organizational failure is the only possible outcome. Appraisal offers a valuable opportunity to focus on work activities and goals, to identify and correct existing problems, and to encourage better future performance.
Since the foreign banks have tremendous financial strength, it will pose a threat to local banks.
Almost universally, where performance appraisal is conducted properly, both supervisors and subordinates have reported the experience as beneficial and positive. Hence, import of merchandise essentially involves two things: Moreover, in these liquidity crunch times, it is crucial for banks to be able to perform efficiently and effectively.
The process was firmly linked to material outcomes. BBL has been founded by a group of eminent entrepreneurs of the country having adequate financial strength.
Ultimately, in the severely non-aligned system, no one is accountable for anything. Customize product line to meet broader range of customer needs. At BBL, the top management is the driving force and the think tank of the organization where policies are crafted and often cascaded down.
Performance Appraisals have the following objectives: What typically happens is that several individuals or work units appear to have overlapping roles.Background of BBL: BRAC Bank Ltd is a creation of BRAC.
BRAC Bank Limited, a scheduled commercial bank established under the Banking Company Act, and incorporated as a public company limited by shares on May 20, under the Companies Act in Bangladesh.
BRAC Bank Ltd. BRAC Bank Ltd. engages in the provision of commercial banking services. Its products and services include deposits, loans, retail banking, cards, locker services, foreign exchange.
CONCLUDING REMARKS BRAC Bank Limited has gained a positive image in the mind of the people in Bangladesh and this is reflected in the growth and performance of the bank in the last few years. BRAC Bank‟s steady rise to the top as the fastest growing bank in the country intends to lead the bank towards the achievement of its ultimate.
BRAC Bank Limited, hereinafter called BBL, is a fist growing third generation-scheduled commercial bank incorporated on 20th.
May as a public limited company under Companies Act, with multinational collaboration including IFC of The World Bank Group & Shore Cap. I, Md. Sadat Mahbub, student of BBA, idhereby declare that the internship report titled “Financial Performance Analysis of BRAC Bank Limited” is uniquely prepared by me after completion of three months of internee at Head Office of BRAC Bank.
BRAC Bank Limited happens to be one of the leading private banks in Bangladesh. Established init happens to be the pioneer in the SME Banking Sector of Bangladesh.
BRAC Bank believes in 3Ps: People, Planet and Profit.Download