Professional Documents
Culture Documents
International Finance Investment and Commerce Bank Limited (IFIC Bank) is a banking company incorporated in the People's Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions abroad. The Government held 49 per cent shares and the rest 51 per cent were held by the sponsors and general public. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. The Government of the Peoples Republic of Bangladesh now holds 35% of the share capital of the Bank. Leading industrialists of the country having vast experience in the field of trade and commerce own 34% of the share capital and the rest is held by the general public. The Bank is being managed by a group of highly experienced professionals with diversified experience in finance and banking. The Management of the bank constantly looks after customers satisfaction and believes that a satisfied customer is a great Ambassador. The bank has already ranked as one of the quality service providers & is known for its reputation. The offers the full range of banking services for personal and corporate customers, covering all segments of society within the framework of Banking Company Act and rules and regulations laid down by our central bank. All activities of the Bank including its products and services are mainly for different economic groups of Bangladesh at home & abroad. Bangladeshi expatriates living abroad in different countries form a strong economic group who contribute greatly towards the economic development of the country.
IFIC mission is to provide service to our clients with the help of a skilled and dedicated workforce whose creative talents, innovative, actions and competitive edge make our position unique in giving quality. Service to all institutions and individual that we care for. We are committed to the welfare and economic prosperity of the people and the community. For we drive from them our inspiration and drive for onward progress to prosperity. We want to be the leader among banks in Bangladesh and make our indelible mark as an active partner in regional banking operating beyond the national boundary. In an intensely competitive and complex financial and business environment. We particularly focus on growth and profitability of all concerned.
Market Category Tax Payer Identification Number ( TIN) Vat Registration Number REGISTERED OFFICE
Auditors Name of Chairman Name of Managing Director Number of employees Number of Branches Number of Shareholder
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6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51
1011 5064 3138 6188 4166 6082 4067 2034 2054 6086 2040 2050 2035 2148 2044 1193 1006 6083 1014 1023 2152 1008 2041 1109 3151 1002 2137 9900 1005 4061 1017 1195 2031 4060 1121 4062 1025 2153 1118 1019 1094 1001 1004 3046 1115 1022
BANGSHAL BRANCH BARISAL BRANCH BEANI BAZAR BRANCH BELKUCHI BRANCH BENAPOLE BRANCH BOGRA BRANCH BORO BAZAR BRANCH BRAHMANBARIA BRANCH CDA AVENUE BRANCH CHAPAI NAWABGANJ BRANCH CHAWK BAZAR BRANCH CHOUMUHANI BRANCH COMILLA BRANCH COMPANYGANJ BRANCH COX'S BAZAR BRANCH DANIA BRANCH DHANMONDI BRANCH DINAJPUR BRANCH ELEPHANT ROAD BRANCH FARIDPUR BRANCH FATIKCHARI BRANCH FEDERATION BRANCH FENI BRANCH GHORASAL BRANCH GOALA BAZAR BRANCH GULSHAN BRANCH HATHAZARI BRANCH HEAD OFFICE ISLAMPUR BRANCH JESSORE BRANCH KAWRAN BAZAR BRANCH KERANIGANJ BRANCH KHATUNGANJ BRANCH KHULNA BRANCH KONABARI BRANCH KUSHTIA BRANCH LALMATIA BRANCH MADAM BIBIR HAT BRANCH MADHABDI BRANCH MALIBAGH BRANCH MOHAKHALI BRANCH MOTIJHEEL BRANCH MOULVI BAZAR BRANCH MOULVI BAZAR BRANCH (DIST.) MUKTARPUR BRANCH MYMENSINGH BRANCH
0808 BARI BEAN BELK BENA 0812 BORO BBAR CDAB CHAP CBZR CHOU COMI CPNY COX DANI 0814 DINA 0810 FDP FATK 0807 FENI GHO GOAL 0802 HATH HO 0799 0811 0816 KERN 0800 0804 KONA KUSH LAL MBHB MADB MALI MOHA 0796 0797 MBD MKT MSIN
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52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82
6085 1003 1110 1029 1020 1016 4163 1028 6084 1027 1173 6080 6081 1198 4065 1171 2042 1007 1092 2132 2045 3047 1090 3043 3033 1126 1091 2036 3139 3049 1024
NAOGAON BRANCH NARAYANGANJ BRANCH NARSINGDI BRANCH NAWABPUR ROAD BRANCH NAYA PALTAN BRANCH NETAIGANJ BRANCH NOAPARA BRANCH NORTH BROOKE HALL ROAD BRANCH PABNA BRANCH PALLABI BRANCH PANCHABOTI BRANCH RAJSHAHI BRANCH RANGPUR BRANCH RUPGONJ BRANCH SATKHIRA BRANCH SAVAR BAZAR BRANCH SHAH AMANAT MARKET BRANCH SHANTINAGAR BRANCH SHARIATPUR BRANCH SHEIKH MARKET BRANCH (OLD)/ NOZUMIA HAT BRANCH (NEW) SHEIKH MUJIB ROAD BR SHREEMONGAL BRANCH STOCK EXCHANGE BRANCH SUBID BAZAR BRANCH SYLHET BRANCH TAKERHAT BRANCH TANBAZAR BRANCH TERRI BAZAR BRANCH TULTIKAR BRANCH UPOSHOHAR BRANCH UTTARA BRANCH
NAOG 0798 NAR 0817 NAYA NTG 0815 NBHR PBNA PLLB PANC 0805 RANG RUP 0813 SAVR SAM SHAN SHAR NOJU SMR SMGL STOK SUBD 0803 TKHT TANB 0809 TULT UPO 0818
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1.7 PRODUCTS
Simply product is a solution of customer needs and wants. A product is an element in the market offering. Product is anything that can be offered to a market for attention.
IFIC CARDS
IFIC Card is powered by VISA, world's largest electronic payments network. IFIC Bank has been issuing VISA branded Credit Card, Debit Card & Prepaid Card. Customer can choose any of the above card according to his/her need.
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IFIC Bank VISA Debit Card can be used at any ATM displaying VISA Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of goods & services within Bangladesh. ATM transactions are to be secured by Personal Identification Number (PIN) known by the concerned customer only. POS transactions will not require PIN. However, all the transactions are to be authorized by the system electronically. IFIC debit card is issued against any individual savings/ current account maintained with any branch of IFIC Bank Limited. The designated savings/current account can be operated by using the debit card without using cheques 24 hours in a day, 7 days in a week, 365 days in a year. The customers are not required to pay any charge for transactions at Merchant Point of Sale (POS) for purchasing goods and services. For cash withdrawal from ATM/Branches, a little charge may be applied. No interest will be calculated on cash withdrawal or purchases. No minimum amount due and no hassle of payment of monthly bills.
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IFIC Bank VISA Prepaid Card can be used at any ATM displaying VISA Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of goods & services within Bangladesh. ATM transactions are to be secured by Personal Identification Number (PIN) known by the concerned customer only. POS transactions will not require PIN. However, all the transactions are to be authorized by the system electronically. Prepaid card is safer than carrying cash and more convenient than writing cheques. IFIC Prepaid card is issued by the branches instantly on filling-up the Application Form and making initial deposit. There is no need to have any account with the Bank. Prepaid card are suitable for the customers who does not maintain any account with IFIC. No interest will be calculated on cash withdrawal or purchases. No minimum amount due and no hassle of payment of monthly bills.
Bank POS are available at all the branches of the Bank. Any IFIC Card Holder can withdraw cash from any branch of IFIC Bank Ltd. through Bank POS. Credit Card Holders can withdraw cash up to 100% of their credit limit.
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Customer Care
Customers can feel free to visit our Card Division on any working day or dial 9559703 or PABX: 9563020 Ext. 500, 502 or Fax: 9570282 or email: mailto:'card@IFICbankbd.com' for further information. Please dial 9559703 or 01713229817 at any time for help.
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LEVELS OF PRODUCTS
1 POTENTIAL PROUCT
2 PRODUCTS AUGMENTED
5 CORE BENEFIT
3 EXPECTED PRODUCT
4 BASIC PRODUCTS
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Product Attributes
Branding
Packaging
Labeling
C.S.S
Attractive Brochures
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Idea Generation
Business Analysis
Business Analysis
Testing
Commercialization
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UPCOMING SERVICE
1. ATM 2. BANKING SOFTWARE 3. TELE BANKING 4. INTERNET BANKING
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CHAPTER -2
Introduction to the Report/Study
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behaviors emphasized in training programs and to apply them to their day-to-day activities. More employees today are taking advantage of the fact that training can strengthen employee commitment. Few things illustrate a firms commitment to its employees more than continuing development opportunities to better themselves and such commitment is usually reciprocated. Training has become a mandatory tool to survive in the hard facing workforce. To accelerate the over all human recourse management achievement, training works as a major part of its dimensions. The banking sector in Bangladesh is very much competitive. More over customers are becoming more demanding and sophisticated day by day. In order to meet their increasing demand the organization has to provide better services to their customer. For this reason employees and executives have to provide with modern learning and knowledge. Training is the only ways to enrich this learning. The training program o introduced by the bank could not meet the expectations of sophisticated customer. In order to develop creativity, innovativeness, and enabling capability of human resources the bank has to update their training program with the changing needs of customers. So that they can maintain their competitive edges. As such I have decided to study training and development aspects of the Bank. Different issues covered for the study to serve our purposes are: HRM Training & Development includes: o Globalization o Technology o Work force diversity o Changing skill requirements o Continuous improvement o Work process reengineering o Decentralized work sites o Employee involvement
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These types of training & development criteria are not always followed in private and public organization of Bangladesh and this is our job to find out the cause and impact of the problem.
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Secondary sources
Articles, Newspaper, magazine, Internet, IFIC Report etc.
Both primary and secondary data will be collected for the study. Primary data will be collected through standard questionnaire and interview method. The questionnaire will prepare on the basic of the objective of the study. Secondary data have been collected from the text books, annual report of the bank, published documentation of the bank, internet etc.
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CHAPTER -3
Analysis and Interpretation of the Data
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LLC. In addition, Academy has also the credit of organizing system of Bank of Maldives.
In addition to conducting courses internally, The Academy also selects candidates for nomination to various courses conducted by distinguished training organizations in the country including Bangladesh Bank Training Academy and Bangladesh Institute of Bank Management.
The Academy also re-designs its courses, programmers etc, regularly to meet the requirement of new skills arising out of various directives, guidelines of the Central Bank and significant changes in the banking sector from time to time.
3.1.1 HR POLICY
Policy is guideline to action Human Resource policy is the most vital element of corporate policy since it guides recruitment, selection, orientation training and placement of personnel. Apparently human resource policy is concerned with proper use human required for undertaking activities in order to achieve corporate goals and objectives.
Delegating of authority. Co-operation to and from employees Security of employments. Opportunity to growth. Fair salary. Objectives evaluation of work.
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Supplying proper equipment and promoting right conditions of work to facilitate production at lowest possible cost. Looking ahead and ensuring production and distribution of superior quality foods and services for catering to the rising and changing requirements of the consuming public. Rewarding star performers. Reward should be earned, not given.
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Training involves the change of skills, knowledge, attitudes or behavior of employees. Although training is similar to development in the methods used to attract learning, they differ in time frames. Training is more present day oriented; its focus is on individuals current jobs, enhancing those specific skills and abilities to immediately perform their jobs. Employee development, on the other hand, generally focuses on future jobs in the organization.
Training differs from education. Training is concerned with increase in knowledge, skills, and abilities of the employees in doing a particular job. It has a narrow aim limited to increase in knowledge and skill related to a job. Education, on the other hand, broadens the mental faculties and horizon of knowledge. It is concern with enhancing general knowledge and motivating one to understand the total environment.
Training is often understood as a learning experience. So, if employees are to understand what training can do to improve an employees job performance, employee should begin by explaining how learn.
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Training widens job related knowledge of the employee. Employees become more skilled and update their knowledge through training. Training provides necessary instructions for performing the current job efficiently. Training differs from education and development.
Imparting of training to the employees has become very much important in modern times for better performance of the job. Here it can be said that the question of training does not arise but making choice of the method of training arise.
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TOP LEVEL
MANAGERS CONFERENCE
MANAGEMENT WORKSHOPS
SPECIALIS ED COURSES ON
COURSE ON MARKETI NG
MID LEVEL
JUNIOR LEVEL
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Bangladesh Bank Training Institute (BBTA) for professional training. Sending officers abroad for higher training is regular feature. A research department also works in aid of HRD operational areas. In the year 2008, the academy has conducted 31 programmers (including training, workshop and seminar) where a total number of 1059 Executives and Officers attended. Besides, 56 Executives and Officers for BIBM training, 13 Executives and officers sent for BBTA training and 7 Executives and officers were sent abroad for foreign training.
Make available skilled and dedicated workforce within shortest possible time by reducing time required for on the job training. Develop understanding about law and practice of banking through foundation training. Impart technical skill to the operation level officers through case studies/practical exercises/ demonstration/project visit for efficient desk operation. Develop analytical & decision making skills of the officers. Develop understanding about human/conceptual skill and organization culture. Impart managerial skills to groom future executive and to keep existing Executives up-to-date with national international environment.
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3.4.7 FACULTY
The academy has built up a pool of knowledgeable/competent trainer within the bank. In addition to permanent and professional trainers, speakers are drawn from operational side so that on the job experience may be exchange and shared. Over and above, speakers from Central Bank, professional training institutions, universities, research organizations and Govt. organizations are also invited to share views and experience. Senior and retied bankers are also regularly to enhance effective of training.
3.4.8 LIBRARY
The academy has a good collection of books, journals and magazines. The books are mainly on subjects like banking, economics, accounting, management and marketing etc. As on December 31, 2008 the library had 5,653 books/titles. The books are issued t the employees usually for one month
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60% 5% 5% 30% 0%
As we found that, the analysis shows the maximum employee gives their decision with strongly agree so we can say or give my comments that it is a good organization.
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Strength:
There is much Strength in this organization from my point of view, though much strength but I would like to discuss such type of entireties:
Strength
75 Numbers of Branches
IFIC BANK LIMITED is the 1st private generation Bank in banking environment in Bangladesh & it provides customer satisfaction within 25 years. Now there are 75 Numbers of Branches in six division .There are 2251 numbers of employees allover the country & contribute of our economy by their hard and soul working, on the other hand 35% share of Govt.
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Weakness:
In my case study, I gathered some weakness in this organization which is very essential to overcome for this organization, such as
Lack of ATM
Weakness
Most of the employees are not adapted in online Banking Insufficient of paid up capital
Marketing Policy
From my point of view there are many weakness in this organization .paid up capital is not accurate in the rule of Bangladesh Bank .IFIC Bank Limited has 164.00 million instead of 200 million. Newcomer online system, for this reason they are not totally
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adapted in online Banking ATM Booth is not all over the country, they have not enough marketing team to advertising of their product line
Opportunity:
Opportunity:
Aggressive product
IFIC BANK LIMITED has a big network to capture the whole items of customer by its aggressive product.
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Threat:
Bangladesh is a third world country & practicing a democracy policy by this policy Bank are affected some hassles ,which is a big threat for a Bank .on the other hand Global recession & Rising of new generation Bank ,New generation bank are provide highest facilities for their customer which is a lack of the IFIC bank limited .
Violence
Global Recession
Govt. interference
Threat
Political system
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CHAPTER -4
Findings, Suggestions & Conclusion
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They face troubles with those clients who have not any knowledge in banking transactions and banking rules. From the clients view introducer is one of the problems to open an account. It is general problem to all Private commercial bank.
IFIC Bank has recruited high skilled employees to filling its lower and mid level position.
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IFIC Bank has proper training arrangement of employees. IFIC Bank has new technology for proper training. Clients generally complain that rate of interest for various type of credit is quite high. In many cases productivity from loaned investment is inadequate that borrower become incapable in repaying loan.
one problem is that bank always follows the policy of risk averse in the world today all the organization are moving in approach of risk taking. As a result it is facing some problems and also facing competition from other bank. The recovery of capital in small business loan section is threatened.
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4.3 SUGGESTIONS
It has a large portfolio with huge asset to meet up its liabilities and the management of this bank is accomplished with the expert bankers and managers in all level of management and with a little knowledge about banking, it is not an easy job to find out the difficulties of this branch. Rather than recommending I would like to give my opinion to improve the banking service and make the customer more satisfied.
loan processing time. For reducing loan-processing time, branch manager should be given more power to sanction loan. This power can eliminate the time. Branch should have independent appraiser for appraising term loan proposal.
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banking may be in progress. Moreover by adopting this system the bank can join in modern competition of along with e-commerce concept.
4.4 Conclusion
There are a number of Private Commercial Banks, Nationalized Commercial Banks and foreign Banks operating their activities in Bangladesh. The IFIC Bank Ltd. is one of them. For the future planning and the successful operation for achieving its prime goal in this current competitive environment this report can be helpful guideline. From the practical point of view I can declare boldly that I really have enjoyed my Internship Report on Training and development of IFIC Bank Ltd, from the first day. Moreover, Internship Report that is mandatory to complete my BBA program, although it is obviously helpful for my career building. In the last decade there has been a revolution in the communication media through the introduction of internet and other forms of secure dial-up media. This had an immense impact on all the sectors of the industry specially the banking sector. The number of banks is increasing day by day because the demand of the customer for the banking service is high .as a result there is a highly competitive situation in the banking sector and people have many option incase of taking banking services .As a central bank of Bangladesh The Bangladesh Bank always adopting measures for putting banking institution on right track and also monitors the activities of these banks to prevent from doing illegal activities. To compete in the environment of advancing technology and faster communication the IFIC should depend more heavily on the quality service and information technology. No doubt about it that IFIC achieve superior position in our banking industry but to cope with customer IFIC should think how to make it services proactive. To compete with 48 | P a g e
other banks operation in Bangladesh, IFIC should introduce easier way for faster processing of credit analysis.
Banks always contribute towards the economic development of a country. Compared with other Banks IFIC Bank Ltd is contributing more by investing most of its funds in fruitful projects leading to increase in production of the country. It is obvious that right channel of Banking establish a successful network over the country and increases resources; will be able to play a considerable role in the portfolio of development in developing country like ours. IFIC Bank Ltd playing its leading role in socio-economic development of the country. Since inception IFIC Bank Ltd has been rendering its Banking services with the needs of the nation to cope with the demands of people in the country. By doing many other works for state & society, IFIC Bank Ltd has emerged as the pioneer of playing key role in the country. As a leading bank of Bangladesh, IFIC contributes in the business with promising future. I can hope that IFIC can spread their business with increasing various scheme and other utility services.
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Bibliography
Books: Smigel, L. M. (2000). Basic Training for New Managers, Delhi: Replika Press Pvt Ltd. Noe, R. A. (2005). Employee Training and development, New York: McGraw-Hill. Jackson, S. & Schuler R. (2006). Managing Human Resources: A Partnership Perspective, South-Western Publishing. Bank Publications: Annual Reports of IFIC year 2007 Annual Reports of IFIC year 2008 Credit Risk Grading Policies of IFIC CRG Chart provided by Bangladesh Bank IFIC General Banking Policy Book IFIC Foreign-Exchange Banking policy guideline Academic Training & Research Division Report of IFIC Bank.
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Appendix Questionnaire
SECTION: A Name: Designation: Gender: Your highest level of education: (please tick one) 1. SSC 2. HSC 3. Bachelors 4. Masters 5. Others (please specify) SECTION: B Complete the following questionnaire by filling the answer that best describes your feelings about each statement. For each item, put your response according to the following.
A. Strongly Agree
B. Agree
C. Neutral
D. Disagree
E. Strongly Disagree
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QUESTIONS 1. Employee training and development is a part of organization development. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly
2. Employee training is an essential part of an organization. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly
3. Training and development is part of organizations target to achieve a goal. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly
4. Training program is very essential to support the employee career development of IFIC. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly
5. IFIC has a good training environment for their employee. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly
6. IFIC looking for employee development as long run. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree
E. Strongly
7. Employee training and development expenditure is one of organization investment A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree
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8. The relation between top level, mid level and lower level is important to achieve organizations goal. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly
9. IFIC maintain all Employee Act as well for justify employees facilities given. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree 10. IFIC use useful method for training. A. Strongly Agree B. Agree C. Neutral Disagree
D. Disagree
E. Strongly
11. Top level management evaluates the training performance of the Employees. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree 12. IFIC understand the training needs for new employee. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 13. IFIC arrange training program frequently. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 14. Training methods are understandable for employee. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 15. Employee is performing well after received training. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree
E. Strongly
E. Strongly
E. Strongly
E. Strongly
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16. Employee has opportunities to develop their skills. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 17. IFIC also arrange cross training programs. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 18. Customers are satisfied about your banking services. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree
E. Strongly
E. Strongly
E. Strongly
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