FUNCTIONAL STRUCTURE OF PBL:

Prime Bank Ltd. has the following functional departments in its head office.

Logistic & Support Services Division (L&SSD)
This Division was formerly known as General Services Division (GSD). Their main function relates to procurements and supply of all tangible goods and services to the Branches as well as Head office of Prime Bank Limited. This includes

i. Every tangible functions of Branch opening such as making lease agreement, interior decoration etc.
ii. Print all security papers and Bank Stationeries.
iii. Distribution of these stationeries to the branch
iv. Purchase and distribute all kinds of bank’s furniture and fixtures.
v. Receives demand of cars, vehicles, telephones etc from branched and different divisions in head office and arrange, purchase and delivery of it to the concerned person / Branch.
vi. Install & maintain different facilities in the Branches.

Financial Administration Division (FAD)
Financials Administration Division mainly deals with the account side of the Bank. It deals with all the Head Office transactions with bank and its Branches and all there are controlled under the following heads:

i. Income, Expenditure Posting: All income and expenditures are maintained and posted under these heads.
ii. Cash Section: cash section generally handles cash expenditure for office operations and miscellaneous payments.
iii. Bills sections: this section is responsible for inland bills only.
iv. Salary & Wages of the Employee: Salary and wages of the Head Office executives, Officers 7 Employees are given in this department.
v. Maintenance of Employee Provident Fund: Employee provident fund accounts are maintained here.

Consolidation of Branch’s Accounts: All branches periodically (especially monthly) sends their income and expenditure i.e. profit and loss accounts and Head Office made the consolidation statement of income and expenditure of the bank. Here branch Statements are reviewed. This division also prepares different monthly, quarterly, half-yearly statements and submits to Bangladesh bank. It also analyzes and interprets financial statements for the management and Board of director.

Credit Division
The main function of this division is to maintain the Bank’s credit portfolio. A well reputed and hard working group of executives & officers runs the functions of this division. Other major functions are the following:

i. Receives proposals
ii. Proposes and appraises.
iii. Get approval
iv. Communication and Sanction
v. Monitoring and follow-up.
vi. Set price for credit and ensure effectiveness of it.
vii. Prepare various statements for onward submission to Bangladesh bank.

 International Division
The objective of this division is to assist management to make international dealing decisions and after decision is made, guide Branches in their implementation. Its functional areas are as follows:

i. Maintaining correspondence relationship.
ii. Monitoring foreign exchange rate and exchange dealings.
iii. Maintaining Nostro A/Cs and reconciliation.
iv. Authorizing of signing and test key.
v. Monitoring foreign exchange returns & statements.
vi. Sending updated exchange rates to concern branches.

Computer Division
Prime Bank operates and keeps records of its assets and liabilities in computers by using integrated software to maintain client Ledger and general Ledger. The main function of this division is to provide required Hardware and Software. The functions of this division are:

i. Designing software to support the accounting operation.
ii. Updating Softwares, if there is any lagging.
iii. Improvisation of software to get best possible output from them.
iv. Hardware and Software troubleshooting.
v. Maintain Connectivity in through LAN, Intranet & Internet.
vi. Provide updated CD’s of Online Accounts to the Branches
vii. Routine Checkup of Computers of Different Branches.

Public Relations Division
It has to perform certain functions related to all types of communication. The broad routine functions can be enumerated as follows:

i. Receiving and Sanctioning of all advertisement application
ii. Keeping good relation with different newspaper offices.
iii. Inviting concerned ones for any occasion.
iv. Keeping good relation with different officers of electronic media.

Marketing Division
Marketing Division is involved in two types of Marketing.

Asset marketing: Marketing of assets refers to marketing of various kinds of loans and advances. In-order to perform this jobs, they often visits dome large organizations and attract then to borrow from the Bank to finance profitable ventures.

Liability Marketing: The process of Liability marketing is more of less same as Asset marketing. In this case different organizations having excess funds are solicited to deposit their excess fund to the Bank. If the amount of money to be deposited is large, the Banks sometimes offer a bit higher price than the prevailing market rate.
 
Human Resources Division
HRD performs all kind of administrative and personnel related matters. The broad functions of the division are as follows:

i. Selecting & Recruitment of new Personnel.
ii. Prepare all formalities regarding appointment and joining of the successful candidates.
iii. Placement of Manpower.
iv. Deal with the transfer, promotion and leave of the employees.
v. Training & Development.
vi. Termination and retrenchment of the employees.
vii. Keeping records and personal file of every employee of the Bank.
viii. Employee welfare fund running.
ix. Arranges workshops & trainings for employee & executives.

Inspection & Audit Division
Inspection and Audit division works as internal audit division of the Company. The officers of this division randomly go to different Branches, examine the necessary documents regarding each single accounts. If there is any discrepancy, they inform the authority concerned to take care of that/those discrepancies. They help the bank to comply with the rules and regulation imposed by the Bangladesh Bank. They inform the Bangladesh Bank about the Current position of the rules and regulation followed by the Bank.

Credit Card Division
Prime Bank obtained the principal membership of Master Card International in the month of May, 1999. A separate Division is assigned to look after this card. The Marketing Team of this division goes to the potential customers to sell the card. Currently Prime Bank Ltd. offers four types of card:

(1) Local Silver Card.
(2) International Silver Card
(3) Local Gold Card
(4) International Gold Card

Recently Prime Bank has obtained the membership of VISA credit Card and soon they will start marketing of it.

Merchant Banking and Investment Division
This division concentrates its operation in the area of under writing of initial public offer (IPO) and advance against shares. This division deals with the shares of the Company. They also look after the security Portfolio owned by the Bank. The Bank has a large amount of investment in shares and securities of different corporations as well as government treasury bills and prize bond.

Conclusion

Management will have to keep close coordination with other banks as well as the Bangladesh Bank to find out how to solve the problems related to Documentary Credit operations. Coordination with Bangladesh Bank is an absolute necessity as Documentary Credit related activities of all Authorized Dealer (AD) branches of all commercial banks are strictly regulated by Bangladesh Bank. Still banks have little to do to tackle the problems caused by the external factors. But banks can do something to minimize the problems caused by the internal factors. Necessary measures include automation, establishing remittance-drawing arrangements with foreign exchange houses and banks, regular performance appraisal and promotions depending on that will minimize mistakes by the employees to a great extent.