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Introduction
1.1. Origin of the report
Professor Dr. A.K.M. Saiful Majid, the Course Instructor assigned the course participants on
August 19, 2013 to prepare an analytical report on Strategic Management of the particular
company participants work for. Thus, the report has been prepared as requirement of the
EMBA Course Strategic Management at Institute of Business Administration (IBA) with a
view to relating course contents with the particular practical field the students involved with.
1.3. Methodology
The company websites, annual reports, vision & mission, values and objectives, other booklets
& manuals etc were studied to identify the strategies of the bank. Top level executives and
other employees were also consulted to have their opinion on the rationale of different
strategic moves of the company.
The theoretical bases for the reports are primarily those taught as part of Strategic
Management course. The industry competitiveness and outlook have been reviewed. The tools
and techniques such as Strategic group mapping,PESTEL analysis, Porters five forces model
of competition, SWOT analysis, Key Success Factors (KSF), five basic generic business
strategies and other strategies like alliance, diversification, etc were applied.
2. Organizational Overview
2.1. Southeast Bank Limited (SEBL) at a glance
Southeast Bank Limited is a scheduled private commercial bank established in 1995 under the
Banking Company Act 1991 and incorporated in Bangladesh as a public limited company
under the Companies Act 1994 to carry out banking business in Bangladesh. With a
commitment to bring quality and excellence in service, the Bank was established by leading
business personalities and eminent industrialists of the country with stakes in various
segments of the national economy. The incumbent Chairman of the Bank is Mr. AlamgirKabir,
FCA, a professional Chartered Accountant. Mr. M. A. Kashem and Mr. Yussuf Abdullah
Harun, two honorable board members were past Presidents of the Federation of Bangladesh
Chamber of Commerce and Industries (FBCCI). The Bank believes it is run by a team of
efficient professionals who work in a congenial environment of trust and discipline that
encourages and motivates everyone in the Bank to work together for achieving the objectives
of the Bank.
As on June 30, 2013, after 18 years of its operation, Southeast Bank Limited has consolidated
its position as one of the leading banks of the country with an asset base of Tk.126.68 billion,
deposit of Tk. 166.47 billion and before tax profit (without provisioning) of 3.12 billion with
96 branches all over the country. But most importantly, Bank has established a loyal customer
base and skilled & equipped low cost work force that may not be easier for its competitors to
imitate instantly.
Today the Bank offers the diversified financial solution according to the needs of its
customers. The Bank has developed second largest Islamic Banking operation (being
mainstream conventional bank compared to its conventional counterparts) along-side its core
conventional Banking Operation. Besides, Capital Services, SME financing. Agri-financing
and many more specialized services have been introduced by the bank in addition to its core
banking activities. Keeping pace with the emergence of modern ICT based development
around the industry, the bank has introduced mobile banking, internet banking, 24/7 ATM
service and many other e-products.
2011
10,000.00
8,317.01
10,683.05
127,178.22
107,288.56
29,846.60
99,509.01
75,982.06
25,673.90
49,544.10
19,931.91
13,846.24
6,085.66
1,912.19
2010
10,000.00
6,930.84
10,165.06
107,729.58
92,452.62
18,327.65
103,726.70
58,158.06
22,781.19
28,082.25
16,071.33
9,316.39
6,754.94
2,763.13
2009
10,000.00
3,422.64
6,504.62
96,669.05
77,497.57
21,350.23
69,582.92
46,724.47
11,916.74
23,800.00
13,702.25
9,087.79
4,614.66
1,870.19
2008
3,500.00
2,852.20
4,804.81
68,714.67
60,281.26
12,299.61
58,019.77
42,178.60
15,078.99
15,221.87
10,250.13
7,237.55
3,012.58
887.24
7,373.11
158,078.59
4,463.08
131,943.48
4,338.35
112,676.98
2,685.56
81,181.5
2012
2011
2010
2009
2008
Employee(permanent)
1855
1526
1373
1254
1080
94
84
76
56
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Branch
3.2. Mission
In harmony with the vision, the bank has tried to set its mission statements which are pivotal to
understand the present state, activities and striving of the Bank. The mission statements are
well constructed as those fulfill 03 essential key elements i.e. what is being satisfied, who is
being satisfied and how customers needs are satisfied. The mission is presented below with
relevance with above key elements:
3.3. Values
The values for the bank are as follows:
Integrity
Respect
Fairness
Harmony
Team Spirit
Courtesy
Commitment
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Service Excellence
Insight & Spirit
Enthusiasm for work
Business Ethics
Most of the banks offer same kind of values. One might argue that there are too many values.
Besides, there could have been little explanation of what these values mean to bank in its
annual report.
3.4. Objectives
Strategic objectives
Strategic objectives of the Bank are mainly designed to gain competitive advantage in the
long-run. These objectives are:
a. Achieving long term sustained growth in shareholders value and operational
relatively lower income group by expanding branch network and by way of efficient
deployment of investment resources on best economic considerations.
c. Maintaining asset quality through diversification of credit portfolio both sector wise and
client base wise, constant monitoring and follow up of the disbursed loans, nursing of
SMA accounts to regularize loans and strengthen recovery drives.
d. Establishing a fully compliant Bank, meeting all regulatory requirements, maintaining
adequate capital base through appropriately blending the set risk-reward parameters and
disclosure in line with international standard, core risk management guidelines
including green banking and environmental risk management principles.
e. Invest in Research and Development (R & D) with focus on integration of state of the
art technology to achieve (i) full automation in banking (ii) excellence in banking
operations and iii) implementation of best banking practices in line with changing
global banking scenario.
f.
Customers as first priority and company philosophy is to establish its brand image as a
customer friendly Bank through efficient and prompt Customer Service, Event
Management, product Diversification, Positioning, Repositioning etc. Striving to
establish long-term profitable relationship with its customers through providing total
banking solutions to customer problems and creating a win-win situation both for the
customers and the Bank.
(CSR) and abiding by all rules and regulations including paying taxes to the national
exchequer
i.
Produce more skilled human resource by training and development who will pledge
their head, heart and soul to establish a leading financial institution that our future
generation can be proud of.
Financial objectives
Short term objectives of Southeast Bank Limited mainly include financial objectives. For
example, the bank is aiming a profit target of Tk.750.00 Crore with 20% increase of its
deposit and credit portfolio in 2013.Financial objectives are not constant and changes every
year.
The Bank initially decided that it will limit its operation to corporate banking only
with limited number of branch not exceeding 20. Although there is a shift from that
standpoint of the bank notably in the last 06 years with expansion of branches that
reached to a number of 96, corporate banking still remains the major concentration of
financing. Corporate clients include large corporate firms involved in garments &
textiles, pharmaceuticals, ship building, leather and large scale commodity trading.
The bank has emphasize and priority for export and import business, through L/C and
BG. The objective is to increase non-interest income through fees and commission
The Bank practices a Credit Policy that only encourages financing the projects and
businesses that are productive and self-liquidating.
Although the bank finances the businesses mainly based on their cash flows, financial
strengths and creditworthiness, there is also emphasizes on obtaining collateral
security to secure the lending.
While corporate financing is main concentration on investment, the bank targets all
types of depositors such as people belong to lower income group, small and medium
business concerns and corporate clients as their depositors.
The bank is aiming to expand its SME portfolio as corporate financing has become
imbalanced capturing about 85% of the credit portfolio.
Recently, special focus is being given for taking advantage on the spread of deposit
and lending rate. Relatively lower income group of depositors have been targeted to
procure low cost deposit. High cost deposit has been identified as the major weak
point of the bank.
The success of the business model can be evaluated by comparing the return on equity (ROE)
and return on assets (ROA) with the relevant industry players. Besides, non-performing loans
(NPL) is also a key component for measuring success of the Bank.
Last 5 years ROE, ROA & NPL of Southeast Bank Limited in comparison with industry
average (Private Commercial Banks):
2008
16.04
31.1
2009
21.0
32.4
2010
20.9
37.7
2011
15.7
23.3
2012
10.17
18.9
2008
1.4
1.09
2009
1.6
1.66
2010
2.1
2.26
2011
1.6
1.32
2012
0.92
095
2008
3.9
4.12
2009
3.2
3.73
2010
2.9
4.26
2011
3.8
3.51
2012
4.58
4.47
4. Situation Analysis
4.1. PESTEL Analysis
4.1.1. Political factors
Political stability: Progression of the industry is directly related with the stability of the
government. Investors are unwilling to take new projects if the state of government is
unstable. It has been observed over the years that the position of ruling parties become
unstable in the pre-election year due to different issues raised by opposition parties.
Consequently Hartals/Strikes become the regular practice that disrupts the economic
activities. The country is at present passing such phase. Until August 2013, there were 38
Hartals called by opposition parties in the current year. Naturally economic activities suffer
and slow down resulting in slow expansion of credit by the Bank.
Uncertainty about continuation of Government Policy: Businessmen or entrepreneurs are
uncertain about the sustainability of government policies fearing possible changes of
government after election may result in major shift in policies. This hinders the entrepreneurs
to undertake new projects. Along-with the entrepreneurs, Banks are even cautious to invest in
new projects. This scenario may continue until formation of post election government, may
there be any change or not. Thus, despite recent urges of Bangladesh Bank to commercial
banks for expansion of loan flows in the economy, the prospect for the industry is slow
growth in the next 01 year. However, the situation is expected to become to its normal from
July 2014 after publication of next years budget.
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investment (as a share of GDP) will improve by 1.4 percentage points in a single fiscal year.
This further indicates that Bank will have opportunity to finance in public projects.
Inflation: Inflationary pressure is easing out in the economy. General inflation was about 7.8
percent in April 2013 compared to 10.6 percent in April 2012. Such trends suggests that
interest rate on deposit may be lower in the banking sector.
Monetary & Fiscal Policy: New monetary policy unveiled by Bangladesh bank on July 25,
2013 aimed at keeping the inflation rate at 7.0 percent while targeting 15.5 percent private
sector credit growth which may be a realistic one considering current state of political
situation. It may be mentioned here that the last monetary policy for the last January to June
period targeted 18.5 percent credit growth but achieved only around 11.5 percent. So, slow
credit growth aimed by Bangladesh Bank is setting a benchmark for private commercial
banks to fix their target. The annual development budget, taxation rate etc are outlined
through fiscal policies which affect economic activities and business growth in the country
and thereby influence the banking business. Naturally, pre-election budget includes ambitious
target in public spending which creates opportunity to invest in government financed projects
through private sector investment.
4.1.3. Socio-cultural factor
Literacy growth & religious view point plays a vital role for inclusion of people in the
banking channel. People are becoming conscious about their savings and now started
preferring banking channel for depositing their money. Recent scams of organizations like
Destiny, Unipay and cheating by number of co-operative firms have also made people
conscious about the necessity of Banks.
Due to interest elements involved in banking, many people did not used banking channel
earlier. However, emergence of number of Islamic Banks and Islamic Banking Branches of
Conventional Banks has also lifted this barrier.
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14
15
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Strength
1. Expertise in corporate financing
2. Sound Risk Management system
Weakness
1. High cost of deposit in comparison with
peer banks
Opportunities
Threat
1. Greater opportunities for financing in Ship 1. Slow credit growth aimed by Bangladesh
Building Industry, Ceramic Tableware
bank in its monetary policy may make it
Industry, Agriculture and agro processing
difficult for bank to achieve expected
business
growth
2. Southeast Bank Limited can further 2. New Banks may snatch away the
qualified employees
strengthen its Islamic Banking Operation
through its Islamic Banking Branch and IBSD 3. New Banks may capture a portion of
existing market share
3. Retail Banking Operation can be further
strengthened for mobilizing low cost deposit. 4. Capital base may need to be enhanced
with the advent of Basel iii Accord
5. Human Resource cost may increase due
to entrance of new banks
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Under broad perspective, all the PCBs can be included in Strategic Group of Southeast Bank
Limited. Most of the PCBs pursue corporate banking strategy though the structure of offering
service may be different. Some of them follow centralized process whereas other follow
decentralized branch banking process. In its business conference held in January 2013, the
bank included 16 to 17 banks in its strategic group mapping as competitors considering their
market share and performance (Annexure-I).
Bank reputation and good image: Reputation and image is vital for deposit
mobilization. People still prioritize the safety of their money before considering the
profit while depositing their money. Sound ability to mobilize deposit is the one of the
most vital key factors for success in the banking industry. Liquidity crisis is a
nightmare for any banks. Even in the financing activities, corporate clients value the
reputation of the bank as their required funding in the future would depend on the
soundness of the bank.
Effective Business strategies: A bank must have a set of strategic priorities for
business and operations and a certain business model that will generate revenue for
the bank. The business focus must be set i.e. whether to target the corporate banking,
or SME segment or Consumer banking or trade finance etc. The product offering and
pricing to be competitive
Banking Practices: Banking practices are industry standards such as how the bank
handles cash, deposits, withdrawals, payments and financial records. The successful
bank will always have statements accurate to the penny and on schedule. Although no
bank is perfect, the successful bank has a reputation for fewer mistakes and satisfied
customers. Vigilant management, conscientious employees and always improving in
areas of technology and customer service keeps successful banks in the lead.
Marketing: Banking is a business and as such must always search for new customers
and expand market share. A successful bank will market services, convenience and
financial advantages. In an increasingly competitive market, effective marketing of
banks products and offers is key to its success. Many of the old banks in Bangladesh
are lagging behind the new comers due to absence of effective marketing. Burning
example is the performance of most of the second generation banks who have already
challenged the first generation banks with limited number of branches.
Brand image plays an important role in selecting the product or bank. Banks need to
build-up its brand image and advertise to attract both asset and liability customers in
print and tele media. Banks need to conduct CSR activities that brighten the image of
the bank.
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Efficient and trained Workforce: The human resources of a bank are the main
architects of a bank. Bank needs to provide prompt customer service as well as ensure
regulatory compliances. The financing activities and financial markets, products and
risks have gradually been complex and diverse. In addition to that the number of
creditworthy customers and deposits are limited compared to number of market
players. It is the employees who need to mobilize the asset and liability marketing as
well as proper risk assessment and management, compliance etc. The pools of
efficient and trained workforces are the key to revenue generations.
Spread Management: Difference between lending rate and cost of deposit is main
earnings of the bank. Accordingly, the banks that manage higher spread do better than
their competitors.
Risk management: Banks deal with different types of risks. The sustainable growth
and long-term success of a bank solely depends on proper risk management. Risk
management is at the core of bank business and risk is generated from both external
and internal sources and may make the way hazardous for Banks existence if not
mitigated or minimized properly. Introduction of Basel II has envisioned a
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comprehensive set of Risk Management practices for a sound banking system across
the globe. Accordingly the Central Bank has identified five core areas of risk and
outlined various processes to effectively manage them.
The risk areas are:
Credit Risk
Asset and Liability/ Balance sheet Risk
Foreign Exchange Risk
Internal Control and Compliance Risk
Money Laundering Risk
The performance of a bank depends on managing all these risk prudently and efficiently.
Effective and efficient risk management system has contributed superior asset quality
and reduced the rate of non-performing or classified loans
Prudent Asset Liability management and money market operation and treasury
management
The dynamic top management and qualified employees have contributed for
operational excellence, quality service and revenue growth
Adoption of Information Technology and Online banking etc
Superior Customer service and maintenance of relationship
Risk based competitive pricing and attractive product offering
Brand image
4.9. Competencies
Corporate Financing
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Over the years bank has developed itself a bank for corporate customers in case of loan
disbursement. Corporate customers i.e. large firms, while considered to be a particular market
niche, have been main source of earning of the bank from financing activities. The employees
of the bank are well trained in serving the needs of this group of customers. Their needs are
fulfilled with utmost importance both from branch and head office level. Quick processing of
the loans with genuine assessment of the fund requirement has been special expertise of the
bank.
The genuine assessment of the fund requirement, though heard simpler, has not been easy for
many of its competitors to execute successfully as apparent from the different recent scams
related to corporate customers around the industry whereas Southeast Bank Limited stood
reasonably firm despite having a dominated portfolio of corporate customers that covers 80%
of its overall investment portfolio.
Credit Administration
Loan monitoring is one of the most crucial factors of any banks success. Southeast Bank
Limited has developed a team comprising officials who are experts in this field. While recent
years profitability of many banks were considerably higher than the bank, in the current year
most of the banks profitability are faltering after strict stance by Bangladesh Bank in respect
of rescheduling due to non-performing loans. Southeast Bank is showing impressive
performance in the turmoil situation due to its sound credit administration.
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Primary Activities
Net
Profit
Supporting activities
Human
resources
Management
Financial
Credit
Treasury
Control and Administration Operations
Accounts
Division
General
Others
Administration
Analyzing banksabove value chain, it has been revealed that cost of deposit is its weak link.
The spread of the bank compared to its competitor is very low (annexure-I). The Bank is
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falling behind in low cost deposit mobilization. Branches seem to concentrate on term deposit
mobilization rather than focusing on CD and SB account. Although deposit marketing is
performed by both retail banking division, branches are under performer here who rely
heavily on high cost term deposit. Interestingly enough there is a major flow in banks policy
making which is the main drawback for low cost deposit mobilization. Southeast bank
follows a policy that encourages branch to mobilize even high cost deposit as branches will
get 0.50% higher return that the maximum rate of FDR for idle deposit. This policy should be
reversed so that branches do not have any incentives for high cost deposit mobilization. If this
critical activity is managed well, banks profitability will increase considerably and bank
would be able to offer lower interest rates to its customers.
Basic Strategy
1. Flexibility in issuing loan facilities according to the business demand of the customer.
Many banks are reluctant to response to customers emergency requirement of fund
after sanctioning a particular facility or facilities. But Southeast Bank tries to assist
customers whenever there is a business opportunity for the customer or they are in
trouble.
2. Collateral is not a strong defense. Southeast Bank Limited follows this policy and
offers financing based on financial strengths and cash flows of the clients. Banks offer
post-import fianc, project loans, Working capital etc without collateral
3. Faster processing/approval, quick documentation, smooth disbursement, minimum
documents handling
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4. Customers having good credit rating are offered lower prices. The loan pricing is done
based on the risk of weight
5. Convenient service is provided through Online and other information Technology
related services
5.1.2. Overall low cost provider strategy
The Bank follows overall low cost provider strategy for its liability or deposit customers
especially for collecting term deposit. Low cost for depositors means providing them higher
return on their deposit. The Bank usually offers highest deposit rate available in the market to
make available required deposit ratio.
Overall low cost provider strategy for liability products is a common strategy for domestic
PCBs most of which provides similar rates against term deposit. However, the concept of
meaningful lowercosts than rivals is difficult to apply for the cases of PCBs due to
standardized deposit products across the industry. Despite this, banks that can manage low
cost deposit through its current and savings account can do better than their rivals following
this strategy. But Southeast Bank Limited has shown little success for low cost deposit
mobilization over the years which is a major weakness for the bank.
Southeast Bank Limited has strategic alliance with Dutch Bangla Bank Limited and
Brac Bank Limited for its card holders who can use the ATM booths of these 2 banks
without any cost.
Alliance with Western Union, Ria, Express Money and other moneychangers for
bringing remittance from abroad.
Agency services are provided for collection of bills, subscriptions for different
organizations like Mobile Phone companies, WASA, DPDC etc.
There is also two way influence in the above hierarchy. For example, business strategies are
complemented by different functional strategies. Similarly, operating strategies are
complemented by operating strategies. The Heads of different Functional Departments
communicate important information to the Managing Director and Managing Directors pass
the decision to Functional Departments for communication with branches.
6. Diversification
6.1. Related diversification
The Bank has chosen related diversification by choosing Islamic Banking operation in
addition to its conventional banking operation. The main aim was to explore low cost deposit
and ensure free flow of deposit in case of tight liquidity in the market in addition to
diversifying investment portfolio. Besides, this diversification through Islamic Banking is a
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strategic-fit for the bank since same employee can be used for the operation through moderate
level of training.
Islamic Banking operation initially started from 2004 through by setting 05 Islamic Banking
branches. But bank took anothers strategic move in 2012 when Islamic Banking Service Desk
was opened in every conventional branch for deposit mobilization. The aim was to explore
depositors who are inclined to Islamic Bank across the country.
As stated earlier, Southeast Banking Limited initially started with Corporate Banking.
But gradually, the Bank diversified its product lines by introducing SME products,
consumer and retail banking products.
The Bank also offers Offshore banking services through its offshore unit
Southeast Bank Capital Services Limited, which is a separate subsidiary of the bank,
carries on merchant banking operation.
An accounting and Audit firm can be acquired to offer services to other Banks and FIs
Proper staffing at the branch level is one of the key factors for implementation of these
strategies. Typically, most of the branch managers are carefully chosen who have reputation
in the industry. Corporate financing requires special marketing efforts along-with service
excellence to be rendered by the branch employees. So, both fresh and experienced
employees with good educational qualifications are recruited at lower levels for the branch
and Head Office.
They talented employees are being tried to retain by offering attractive salary, good working
environment and career progress.
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Both of the business strategies are performed mainly through branch banking where branches
are the main marketing and operating force. The bank has designed the branches to
implement these strategies with the followings:
Setting target for the branches: Branches are given target with special focuses on
deposit or loan. Some of the branches are given priorities for deposit mobilization
whereas other branches are instructed to pursue loan disbursement. There are also few
branches that are given equal priorities for maintaining adequate loan and deposit
portfolio depending on locations and performances.
Performance measuring and rewards: The Bank measures performances of both
branches and employees. Branch are ranked under category of Corporate, A, B, C, D
according to their performance. Employee performance are also measured based on Key
Performance Indicators (KPI), a tool recently used discarding age old technique of
evaluating performance through the subjective judgment of Managers.
7.3.3. Retail banking division to aid deposit mobilization and consumer financing
To aid low cost deposit mobilization and consumer financing, retail banking division has also
been set up. The marketing force of the retail banking is recruited on commission basis with
disbursement of salary subject to fulfilling the targets. This division has minimal staffing
cost.
The Bank has developed this division to fulfill the needs of its corporate customers. Besides,
this division takes decision regarding financing of corporate clients through loan proposal
processing. This division also process loan proposal of important SME clients.
Risk Management
Southeast Bank Limited takes a holistic approach to the risk associated in its banking
business knowing that one kind of risk can potentially affect others. Bank has identified some
core risk areas that are taken special care through its different divisions:
Table 7.1: Risk Management of SEBL
Type of Risk
Managed or encountered/supervised by
Credit Risk
The CSR activities of the bank mainly include scholarship programme for school, college &
graduate level students managed by Southeast bank foundation. Besides, there is assistance in
medical treatment for individual as well as in other fields. Total spending of the bank in these
stated areas was Tk. 2.27 crore (Details enclosed as annexure-II).
The CSR activity of the bank is done voluntarily though it helps in building brand image of
the bank. However, there is a traditional belief by many that banks CSR activities are directed
towards gaining tax rebate which is completely baseless. None of the banks were able to get
tax rebate in 2012-13 due to cumbersome laws of NBR. Majority portion of the banks CSR
activities are spent on education and continue to be same as there was directive by
Bangladesh bank to spent at least 30% of CSR spending in this area.
(nepotism based recruitment) with its strategy execution with an aim to achieve service
excellence.
9.2. Leadership
The Managing Director of Southeast Bank Limited plays the role of corporate leader of the
bank. Present Managing Director is a dynamic person under whose leadership the bank is
displaying better performance even at this slow growth phase for the industry. One notable
change he brought is participation of employees to provide information regarding problems
of different levels.
Different sets of questionnaires are provided on regular intervals for opinion of the
employees on different issues. There is quarterly business meeting involving all head of
branches to review their performance. He also reorganized the role of research and training
institute to strengthen existing competencies of the bank as well as turning several activities
into competencies by enhancing knowledge level of the employees. Ethical practices are
encouraged by him and any violation of it is strictly punished and circulated amongst
employees through circular. Managing Director is aided by one Additional Managing
Director and 5 deputy Managing Directors.
However, one barrier still exists for effective leadership. No doubt the present board of
directors are efficient and highly qualified in guiding the business. But they are too much
involved in decision making specially in financing related decisions which is a hindrance for
the management to work independently. The Banks performance may not that bad compared
to its competitors, but things could have been much better without interruptions of directors
in everyday banking.
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Southeast Bank Limited has the strength and opportunities to continue its success in future.
However, the Bank needs to respond to its weaknesses. The following strategic moves may
be made:
1. High cost deposit is a major problem for bank to sustain competitiveness. To overcome this
situation, low cost deposit may be mobilized by concentrating on the following:
Reversing existing policy that branches will get 0.50% higher return that the
maximum rate of FDR for idle deposit. The policy should be rectified to such that
branches would not have any incentives for high cost deposit mobilization.
2. The Bank must continue to strengthen its capital base. The fixed assets of the bank have
increased considerably. According to new directives of Bangladesh Bank, bank can maintain
fixed asset no more than 30% of its capital base. So, bank cannot increase its asset unless
capital base is increased.
3. Special attention to be provided so that existing employees are not lost to the rivals
4. Marketing activities to be conducted from corporate office as well as from branches. The
corporate assets to be originated and nurtured primarily from corporate office
5. Training Institute to be developed and equipped properly
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