Overview of Operation of International Department of Southeast Bank Limited

Abstract

Southeast Bank Limited (SEBL) is a scheduled commercial bank in the private sector, which focuses on the established and emerging markets of Bangladesh. It was incorporated as a public limited company on March 12, 1995 and started commercial 3anking operation on May 25; 1995. SEBL offers a full range of Banking Services and has Thirty Seven branches throughout Bangladesh. The bank's operations broadly in Bangladesh are in the areas of business banking, retail banking, and A TM card services division. The bank offers numbers of retail products in the form of loans savings schemes as well as various types of trade financing facilities to its customers. The major strengths of Southeast Bank Limited are its reputation, image, customer service and variety of products. At the same time, major weaknesses include lack of inter-departmental communication and storage facilities and centralized decision making, prohibiting bottom-up communication. An industry analysis has been carried out to scan the macro environment which affects Southeast Bank Limiter's operations in Bangladesh. A set of recommendations have been generated for further development and expansion of Southeast Bank Limiter's operations in Bangladesh. SEBL perf ormes well in marketing its financial products. Southeast Bank Limited is the first bank in the country to use VSAT at all its branches across the country. And thereby introduced the new product of "Real Time on Line Any Branch Banking Service" for cash withdrawals, deposits, electronic fund transfer, balance enquiry, accounts statements etc. by customers. Southeast Bank Limited also launched a new product Islamic Banking in selected branches of the bank at Sylhet, Cox's Bazaar and Chagalnaiya. SEBL has also achieved tremendous success in deposit collection with in a short period of time. The growth rate in deposit is 20.38% compared to last year. This growth rate might be termed as remarkable achievement considering the volatile economic scenario of the country during the part of 2007. Finally, a set of recommendations have been provided for overcoming the problems of SEBL.