ASPECTOS LEGALES DEL CRÉDITO

At the beginning my mind was clean regarding starting deposit marketing so I sat down and started to think how to do it and from where should I starting it. For the procedure, I used to take a look around the New Baneshwor market for corporate clients and note down the potential corporate clients. Then I after divided the organization on the basis of their nature.

The decided the organization on the following basis

a. Financial Institution b. Education Consultancy c. Insurance Company d. Advertisement Company e. Pathology labs and Clinique f. Trading company

g. Tours and Travels h. Employment Overseas i. Media Houses

j. Investment Companies k. Computer services l. Automobiles Dealers.

m. School and Colleges

After dividing the potential organization, I started to analyze the available product that can be offered to those organizations.

These were the basic products which would be relevant to the corporate clients. For Financial Institution such as Saving and Co operative organization, Call account was appropriate, because as PCBL was providing interest to these accounts from 4% to 8% on daily balance, which was very appealing for them. While going for call account, we visited more thirty five financial institutions. As in term of Insurance companies, I presented Fixed Deposit Account with a better interest rate, more than published rate by taking authority and having short discussion with branch manager. One of the prime potential clients was Shikhar Insurance; where I talked with Mr. Binesh Maskey for (Fixed Deposit) FD for NPR 1 crores, but later Shikhar Insurance happen to deposit Rs 10 lakhs for period of 16 months.

For education consultancy, I planned SWIFT transfer and Current account with benefit of Staff Salary account as the possible product. Though our bank had SWIFT service, PCBL New Baneshwor didn’t have clients for SWIFT transfer, so in other words, the SWIFT service wasn’t in use. I visited most of the education consultancies situated at New Baneshwor areas and likewise, as an outcome I along with another intern, was successful in finding client Mr. Dilip Shrestha of International Multi Trade, who used SWIFT transfer service from the branch for the first time. Hence I can say that I was able to bring the first client for swift transfer, who transferred around more than 50000 Euros to Cyprus. This was one of my best achievements, during my deposit marketing experience.

Similarly, I planned to target business house, pathology labs and Clinique, media house, school and colleges, automobile dealers, and tours and travel with Current Account with Staff Salary account as complementary.

The procedure for deposit marketing, explained about can be made in following points Table 18: Procedure of Deposit Marketing

Procedure of Deposit Marketing

1. Diving the Market into Segment

2. Identify the Available Clients in the Segments 3. Understanding the Nature of Business

4. Selecting the potential clients

5. Understanding their basic Financial Service requirements

6. Determining the useful product for the Clients on the basis of their requirements

7. Explaining the benefits and Comparative advantage 8. Converting into actual clients / Taking Feed back

These are the procedure regarding deposit marketing. For deposit marketing I generally used four approach, direct marketing, door to door marketing, enterprise marketing and telephone marketing. In terms of door to door marketing I used to visit around more than ten organizations on average. Before beginning door to door marketing I used to travel around the market and understand it geography and then divide the market into Segments as per convince. Then after I used to identify the about all the positioned clients and then try to understand their business.

After identify, I used to classify the clients on the basis of their goodwill, because there are clients in the market whom can only be serve by the high profile Banks only, so I tried to eliminate those organization from my list. Clients who couldn’t be entertained by PCBL would be classified on the basis of their goodwill, organization structure and general discussion with relationship manager. For example, DHL Express. Though DHL express was within our vicinity, we knew that those companies where Multi National Corporations (MNC) whom our bank couldn’t entertain financial services in terms of cost. These are big companies who require Over Draft (OD) without collateral at lower cost. Since PCBL is new commercial bank, it cannot provide OD facility to its clients without collateral and the cost of OD at PCBL because, PCBL is new commercial bank as it hasn’t able to cater its service in larger quantity like other high profile banks such as Everest Bank, Standard Charted Bank.

Then after selecting the potential clients, I would go for door to door marketing, through general inquiry with financial manager, I used to understand their financial requirement and with which bank they are working with. After identifying their requirement, I used to offer and then present them our service with comparative advantage in general, basically explaining what other banks are offering. Study about the competitors, within the vicinity is made before approaching to the customer. When I finish my presentation, I would ask for their response, generally in big house organization, they would take time to discuss in their board meeting. Later after some couple of days I use to take feedback either from phone calls or even from visiting their office once again. Majority of time I used to take feedback from visiting the office.

This is the general procedure, how I followed during my Deposit marketing at PCBL, in order to meet the targeted objective of my internship.

SECTION V