ADVANCE RESEARCH ON THE FUTURE OF FLAT STEEL INDUSTRIES OF BANGLADESH – A RESEARCH REPORT OF STANDARD CHARTERED BANK

Abstract

This report on “Advance Research on the future of Flat Steel Industries of Bangladesh – A research report of Standard Chartered Bank”, aims to present the knowledge and experience accumulated from the internship program at Standard Chartered Bank. During the short period of Internship Program, the internee had the opportunity to work hard with the professionals in one of the biggest multinational bank in the country. As defined, the internship program has given the internee a chance to see the practical business world while acting as an integral part of it. Demand of steel in Bangladesh is steadily growing in line with the country’s economic development and general increase in purchasing power. As a measure of the increasing usage of steel annual spending in the construction industry has nearly doubled in the last five years. Steel usage is projected to increase further in the intermediate future as the Government of Bangladesh plans to undertake massive infrastructural projects to keep pace with the rapidly expanding economy. With the growing urbanization, there is substantial demand from the housing industry as numerous development projects will be taken up in our major cities, satellite towns and tourist spots. Such projects result in significant increase in demand for steel and steel products along with other construction materials. Credit Risk means uncertainty to meet financial obligations as per agreed terms by the borrowers during the tenure of the credit facilities. For maintaining steady growth rate of the bank and economic development of the country, Standard Chartered Bank manages the Credit Risk properly. Standard Chartered Bank extends credit facilities to different clients in different sectors after doing due diligence and mitigating risk factors properly as per guidelines/standard set by Bangladesh Bank, Executive Committee of the Board of Directors and Management Credit Committee of the Bank. The role of credit approval procedure of the corporate banking of the Standard Chartered Bank focus on the assessment criteria in measuring risk and pricing while providing credit facility to its corporate customers. Customer satisfaction is one of the core objectives of the Standard Chartered Bank. To smooth the whole process the work is divided. So, before making a decision the every necessary information is carefully scrutinized by different departments and different people who have gained expertise in their related field. Thus, it helps both in making correct decision and smoothen the process to satisfy the customer need quickly.