China merchants bank is established in the year 1987 and the parent company of the bank is China Merchant Limited. The company has been rated among the top banks in the world. They are active not only in china but also in other parts of the world as well. They have been awarded with many accolades for their premium work in the industry. The company is customer centric and the customer service is their priority. During my short tenure with the company, I have gained lot of experience about the personal as well as corporate life. It has given me a platform to prove my capabilities and learnings.
Banking industry has shown grown in the past couple of years. The bank has become an important part in everyone’s life. The banking industry offers lots of services to the individuals as well as to the corporate. The banking industry includes retail banking, capital business and business banking. Retail banking includes checking of accounts, saving accounts, deposition in accounts, issuing and maintenance of credit cards and debit cards, personal loans are also provided by the banks, locker facilities, fixed deposits, mutual funds, loans and 24 hours ATMs. Whereas, business banking includes loans for business purpose, financing the projects, stock exchange dealings and risk management.
For my internship, I have chosen China merchants Bank, Qingdao. CMB was established in year 1987 in the city of Shekou, Shenzhen, China, which is presently the headquarters of the bank. China merchants Bank is a joint stock bank and deals in personal banking and corporate banking. CMB is among the list of top 200 banks in the world and is the sixth largest in China. CMB is not only active in china but also internationally. It has winged the Asian as well as American Market. At present CMB is located in approximately 30 cities of China and have a business network over 400.
Below shows the presence of CMB in China:
It is also associated with around 1000 banks in 80 countries or so. They have a representative office in London, Taipei and New York. This shows how effectively and fast the company is growing. China Merchants bank has also bagged the awards in the last few years like the best domestic bank in china and the most respectable enterprises of china.
The logo of China Merchant Bank:
The Brand Symbol of China Merchants bank:
China Merchants Bank is a part of China Merchant Steam Navigation Company and holds all 100% equity interest. The parent company is China Merchant group. There is motto is “we are here for you” and they consider the company as all in one net. The company’s vision is in order to maintain a blue chip status for a long time, it is important to maintain determination, courage and actions. Reflect the determination of CMB to become everlasting enterprise, reflecting the long term commitment to the community, customers and stakeholders.
The employees are encouraged to volunteer to the community in the company. In fact, most of the companies in China encourage their employees to volunteer their services to the poor and the needy people. The company do encourage by allowing them to go to volunteer the services on the paid working day. Employees are asked to donate household items to the community.
The supervisor has an autocratic style of management. He used to control our work process completely, under the guidance of the Manager. We were hardly involved in any decision making process however, he was useful in giving me the details on the functional aspect of the bank and its products. He helped me when I required his guidance in understanding any process. The environment in the bank is competitive as there are number of banks in the country and all are having cut to cut competition in terms of loan policies, interest rates, saving account policies, customer service etc. Because of this competitive environment, employees are facing lot of work pressure on the daily basis. All are working to strive for one objective and that is maintaining the position of the bank among top banks in China. Because of market competition, there is competition within the organisation as well, in terms of who is performing better. All in the company are working hard for the same perspective that is to win over the other. The internal as well as the external environment consists of competition.
As an individual I was able to perform in the bank, by putting my theoretical knowledge into practise. My skills that contributed to my successful completion of the internship were my English writing skills; I was able to make the reports in English, which were required by my supervisor. Since I had the knowledge of Computer handling, after some training on the software, I was able to operate the same under the guidance of y supervisor. Though, I need to acquire the people handling skills, as the banking industry revolves around the customer service. I was not very comfortable and confident in dealing with the customer. I also needed the in depth knowledge of the procedures and practises of the bank, as they acted as the hindrance when I wanted to communicate with the customer. I also have to develop good interpersonal skills, as one just not interacts with the customer but also with other employees. Though I was able to make my way through the employees yet I feel little more training on the same will help me in long run. I was able to understand the instructions given by my supervisor and manager.
The staff, supervisors and managers of the bank were very active and proactive as well. They were quick in handling the complaints and queries of the customer with a smile on their face at all times. That is the reason, why the customer service of the bank is always appreciated. For example, I saw an elderly woman approached the counter and had too many questions for the accountant; the accountant answered all the questions with the patience and a smile on his face, though some of the questions were not pertaining to his department. They highly believe in the statement buck stops at you. They were empathetic. They had a thorough knowledge of the products that the bank offered; in fact all the employees were equally knowledgeable about the services and products of the bank. As said earlier, the skills I lacked were the thorough knowledge of the products and services, customer service skills, showing patience at all times.
China merchant Bank is focusing on improving the operations of the bank by increasing the prices of the loan, decreasing and reducing the capital expenditure, retaining their customers and making new customers. For the same the company has come up with the refined budget to meet the goals and the objectives.
The culture of the bank is not only good for the external customers but also for the internal customers. The employees here are trusted by the managers for their work. Also, the employee culture is pleasing as during my tenure, I did not come across any incident were the staff was fighting among themselves. The interpersonal skills among the staff are very high. The dress code is business formals, though at times, we can see few in business casuals also. They celebrate together the success and works together on the failure.
The core values of the bank are Innovation, Service and sound. Innovation stands for trends in the banking industry, competition in the enterprises and the market. Be flexible to changes and challenges in terms of improvement in the work style and tolerance for any failure. Services conform that one must listen, respect and adhere to the customer and the customer requests in order to gain the customer satisfaction and maintain their expectations. All the services provided should be personalised. Apart from this, the managers of the bank should provide services to the internal customers also. Sound stresses on risk management, standardisation of operations.
Philosophy for the people is respect, care and share. As per the philosophy, employees should have respect for other employee’s dignity and should also have mutual respect towards each other in the company. Managers should care about their staff in terms of making them gain the recognition for their values and for their work; managers should pay attention to the overall development of the staff. The employees share the common platform of the bank and are the members of one big family that is China Merchants Bank; therefore, there should be a mutual respect, mutual support, mutual trust and a good and honest communication with each other.
Since, I joined the bank as an intern for few weeks; I was mentally prepared that my learning will be minimal, as all of them will be busy with their own businesses. I felt the same on the first week, may be because of my pre conceived notion. I felt that the staff was too busy to give time to the intern, because of the work pressure on them. I also felt that my learning’s will be restricted because of the same. However, my perception gradually started going wrong, as my supervisor and manager started showing interest in my learning, because I was very admen on learning new skills and processes. Since I showed interest in the work, they started giving me some works, which were helpful in increasing my learning and experience. They gave me reports to write and also some reports to analysis by putting across my theoretical skills. I was also allowed to do entries on the system to the saving accounts, I was asked to make the report on potential accounts, which could be helpful to the sales team.
The employees of the bank, worked individually to meet their goals and objectives, especially the ground staff, as they had their targets to fulfil. However, the supervisor, made sure that though they are working individually, though they maintain synergy among their teams. Though some teams, like sales employees were team players, they always took decisions in the team. All of sales employees only thought of one statement and that is, maximization of profits and maintaining the bank’s position. Though some departments worked individually, yet they were together in any crisis or in any unwanted situations. They all worked together in harmony and had respect for each other. That is the reason; I earlier mentioned that i need to learn the interpersonal skills from them.
During my tenure with the bank, i discovered lots of things about myself, which probably I won’t be able to learn in the college. During the course of action I learned that I am not a very confident person, may be because of my verbal communication, which I believe needs some honing. I need to develop interpersonal skills so that I can communicate and work more effortlessly with the staff. I need to increase the prerequisites required for the customer service skills which I had learned during the internship. Above were mentioned the skills which i learned are missing in me. However, I also learned about the skills which i already possess and did not knew about them, like my zeal to learn new things, my pro active behaviour and right implementation of the acquired knowledge. Also, after the internship, I have become more responsible as an individual and have also become a good team player. I have gained the sense of urgency and have also learned amount the time management.
My expectations were met during the internship as I got enough exposure to relate my theoretical knowledge to on the job training. I have been given work to do and also the analysis to do. I have gained lot of knowledge about the functional aspects of the bank. They had given me ample amount of opportunities to prove my mettle as an intern. If given an opportunity, I would like to work as a full time employee with the organisation, because that will make me much better person and also I will get to learn much more which I was unable to learn due to time and role constrain.
My internship was a good learning experience for me. I was able to extract maximum from the staff, supervisor and the manager. One of the analyses that were given to me was to find out potential companies list that can give good future in the business. The obstacle that I faced was how to gather the information, as I was not given and shown any channels for the findings. However I found the details from the list of transactions that happened in the month. I was able to get the list of few small entities that did not have account with us. As a result, the list was sent to sales team, which in turn approached these companies for the business. My effort for getting the list accumulated was appreciated by everyone.
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