A Business Strategy Analysis on National Bank Ltd

Prepared For

Dr. A. K. M. Saiful Majid

Professor
Course Instructor: Business Strategy (W650)

Prepared By
Nirjhar Barua [Roll-04]
Md. Irfanul Quader [Roll-12]
Sagor Paul [Roll-15]
Md. Mostafizur Rahman [Roll-21]
Amirus Saleheen [Roll-23]
(MBA-49D)

Institute of Business Administration

University of Dhaka

Date of Submission: November 2, 2014

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LETTER OF TRANSMITTAL

November 2, 2014
Dr. A.K.M. Saiful Majid
Professor
Institute of Business Administration
University of Dhaka

Dear Sir,
With all due respect we are submitting our group report on National Bank Ltd as a partial
requirement of the course Business strategy as instructed. This interesting project has
provided us with the opportunity to have a detailed insight of the application of different
strategy theories with reference to National Bank Ltd.
With our utmost dedication and your precious guidelines, we believe that our effort will be a
success and our ultimate group work will be appreciated by you. We would be glad to
answer any queries if needed.

Sincerely,
NirjharBarua (Roll- 04)
IrfanulQuader (Roll- 12)
Sagar Paul (Roll- 15)
MostafizurRahman (Roll- 21)
Amirus Saleheen (Roll- 23)
Batch- MBA 49D

CONTENTS
Executive Summary

1. Introduction

1.1. Origin of the Report

2. Objectives

2.1. Broad Objectives

2.2. Specific Objectives

3. Methodology

3.1. Data collection and Analysis

3.2. Limitation

4. Company Profile

5. Vision, Mission Analysis of NBL

5.1. Vision Analysis

5.2. Mission Analysis

6. Differentiation strategy for National Bank Ltd

6.1. Strategic alliances and partnership

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6.2. Strategic advantages and disadvantages of National Bank

11

6.3. Outsourcing strategies for National Bank Ltd

12

7. Evaluating Resource and Position of National Bank Ltd.

12

7.1. How well the present strategy is working for National Bank Ltd

12

7.2. SWOT Analysis for National Bank Ltd.

13

7.3. PESTEL Analysis of NBL

14

7.4. Value chain of National Bank Ltd

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8. Conclusion

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9. References

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Executive summary
National Bank Limited is one of the thirty-eight private commercial banks in Bangladesh, a
fully Bangladeshi-owned private bank, formed in the year 1983. In this study we have looked
into the various business strategies taken by National Bank limited, with gathering and
compiling all relevant data regarding banking sector in Dhaka and provide accurate depiction
of the recent strategic development in this sector relating to business strategies concepts. A
hypothesis was developed and data was collected, with data being collected from primary
sources and secondary sources.
Its Vision as an organisation has been analysed as being too long and not in focus, also that
the vision statement could have been shortened into one sentence, making it memorable.
Whereas the mission statement although, contains most points and can be accepted as proper
mission statement. It has been seen that NBLs core valuesintegrity, open communication,
performance driven, continuous self-improvement, quality, teamworkare not representative
of the vision of the bank and vision of the bank not representative of the vision.
It has been seen that NBL, even with various setbacks in the economy NBLs strategy can be
termed satisfactory in respect to deposit mobilization and profit earning. The SWOT analysis
pointed out various strengthsnamely efficient management group, better financial position.
The Weaknesses were namely absence of diversified range of products and income being
dependent on shares on the retail market, and the opportunitiesnamely sophisticated
customer service being one. The Threats were technology, competitiveness, regulation etc.
The PESTEL analysis showed the effect of political, economical, social, technological,
environmental and legal aspects or effects on NBL. The value chain of NBL is based around
the production of its services, where raw material are lender and borrowers and are also
considered to be the end products as well and the process is transfer of savings into
investment.

1. Introduction
The banking industry in Bangladesh has flourished, in a modern sense over the last few
decades yielding, illustrious records as making double-digit profit percentages, sustaining
growth and surviving cut-throat competition while providing attractive returns to
shareholders. The rapid industrial growth and infrastructure elaboration of the country can be
largely attributed to the prominent evolution of banking sector. The banking system is
composed of four state-owned commercial banks, five specialized development banks, thirty
eight private commercial Banks and nine foreign commercial banks. Bangladesh Bank is the
chief regulatory authority in the arena of banking in the country.
Employees in todays service economy are required to interact with people, work in teams, be
responsive to customers, have an orientation for quality and deliver services quickly. So, for
enhancing the professional skills of the employees, both local and international banks are
coming up with their own business strategies.
The study is an attempt to investigate the business strategy followed by the banks of
Bangladesh with reference to National Bank Bangladesh Limited. Analysis of existing
strategies and plans and their importance in the banking sector of Bangladesh has been
performed. The research attempted to evaluate existing core strategies and to recommend
several suggestions to meet the employees and customers needs in the financial service
institutions of the country.
The study is built upon by providing intensified details of Banks core strategies, their
resources, capabilities and competitiveness as well as ethical values, CSR and environmental
sustainability which ultimately build up the whole strategic framework. Banking is an
industry in transition all around the globe. Innovative business strategies and their practices in
the form of practical output can make it much easier for services to meet the emerging quality
demands of the customers. The best answer to the intensified strife in contemporary financial
services is a quality-of-service oriented banking paradigm.

1.1. Origin of the Report

The report titled Application of Business Strategies and Practices in the Banking
Industry of Bangladesh with reference to National Bank Bangladesh Limited has been
prepared for Dr. A. K. M. Saiful Majid, Professor & Senior Fulbright Scholar, as a partial
requirement for completion of the course Business Strategy (W650).
2. Objectives
2.1. Broad Objectives
The broad objective of this paper was to carry out an intensive study on National Bank
Bangladesh Limited (mostly concentrated in Dhaka), i.e. gather and compile all possible
relevant data regarding the banking sector in Dhaka and provide an accurate depiction of the
recent strategic development in this sector relating to the concepts of Business Strategies
learned in classroom sessions till date.
2.2. Specific Objectives
Find out the over-all strategic infrastructure of the bank and its comparison with the
standard business model.
Analyze the Companys vision, mission, goals and objectives with respect to the
customers as well the shareholders.
Try to evaluate the Companys both internal and external environment.
Find out the Banks resources, capabilities and market competitiveness with a view to
proper judgment
Familiarize with the five generic competitive strategies and specify the Banks
position.
Find out the key factors to strengthen the Banks competitive position in the
international markets.
Get an idea about the Banks corporate strategy, corporate culture and leadership
Evaluate the Banks ethical values, corporate social responsibilities, and
environmental sustainability.

3. Methodology
Methodology is a systematic procedure, which is used to solve a problem easily in a
particular area. It starts which problem makes hypothesis and conclude decision finally. If
covers collection, censuring, analyzing and interpreting of data to lead decision, i e.
methodology includes why a study we have been undertaken, how the problems have been
defined in what way and why the hypothesis has been formulated what data have been
collected and what particular method has been adopted, why particular technique of
analyzing data has been used and a host of similar other questions are usually answered when
we take about methodology concerning a problem or study.
3.1. Sources of Data
Data have been collected in the following ways.
a)

Primary source

b) Secondary source

a) Primary source: The data, which are directly collected from the study field, are called
primary data or raw data.

Primary data have been collected under the following methods:

(i) Observation methods:
(ii) Interviews
(iii) Questionnaire.

b) Secondary source: We have collected secondary data form the following sources.
(i) Annual report of the bank.
(ii) Circular letter and journals
(iii) Published papers on Micro credit
(iv) Internet search.

3.2. Limitations
The present study was not out of limitations. But as students it was a great opportunity for us
to know the banking activities in Bangladesh especially National Bank Limited. Some
constraints are appended below:
The main constraint of the study is inadequate access to information.
The employees did not disclose much information for the sake of the confidentiality of the
organization.
Since the banks personally were busy, they could provide us very little time.
The clients were too busy to provide us much time for interview.
Though we have prepared many reports before, but lack of experience is one of the main
constraints of the study.
Limitation of time was a major constraint in making a complete study. It was too limited to
cover all the banking area. Many aspects could not be discussed in the present study.
Lack of comprehension of the respondents was the major problem that created a lot of
confusion regarding verification of conceptual question.
Confidentiality of data was another important barrier that was faced during the process of
this study.
As the outsiders of the bank, it also created some problems as we were unable to acquire
correct data from all the departments, due to the banks policy of maintaining secrecy.

4. Company Profile
National Bank Limited is regarded as the pioneer in the private sector banking of Bangladesh.
National Bank started its journey with the noble vision of diversifying banking activities into
different activities of client service. The bank is also committed to fulfill its responsibilities to
the society and the country.
National Bank Limited has its prosperous past, glorious present, prospective future and under
processing projects and activities. Established as the first private sector Bank fully owned by
Bangladeshi entrepreneurs, NBL has been flourishing as the largest private sector Bank with
the passage of time after facing many stress and strain. The member of the board of directors
is creative businessman and leading industrialist of the country. To keep pace with time and
in harmony with national and international economic activities and for rendering all modern

services, NBL, as a financial institution automated all its branches with computer network in
accordance with the competitive commercial demand of time.
Moreover, considering its fourth-coming future the infrastructure of the Bank has been
rearranging. The expectation of all class businessman, entrepreneurs and general public is
much more to NBL. Keeping the target in mind NBL has taken preparation to open new
branches by the year 2000-2001.

From the very inception it is the firm determination of National Bank Limited to play a vital
role in the national economy. We are determined to bring back the long forgotten taste of
banking services and flavors. We want to serve each one promptly and with a sense of
dedication and dignity. The then President of the People's Republic of Bangladesh Justice
Ahsanuddin Chowdhury inaugurated the bank formally on March 28, 1983 but the first
branch at 48, Dilkusha Commercial Area, Dhaka started functioning on March 23, 1983. The
2nd Branch was opened on 11th May 1983 at Khatungonj, Chittagong. Today they have total
76 Branches all over Bangladesh.

Since the very beginning, the Bank exerted much emphasis on overseas operation and
handled a sizeable quantum of homebound foreign remittance. The Bank established
extensive drawing arrangement network with Banks and Exchange Companies located in
important countries of the world. Expatriates Bangladeshi wage earners residing in those
countries can now easily remit their hard-earned money to the country with confidence,
safety and speed.

In the year 2000, the Bank managed to procure foreign remittance business to the tune of
US$88.44 million dollar equivalent to Tk.4,662.10 million compared to Tk.3,986.20 million
in the previous year indicating a growth of 16.96%Considering the need for remittance by the
expatriates Bangladeshis residing abroad the Bank during the year established drawing
arrangement with the Pacific Bank Berhad, Malaysia (now May Bank), Security Exchange
Company Limited, State of Kuwait and Dalil Exchange, State of Bahrain.

4.1. Board of Directors

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5. Vision and Mission statements of National Bank ltd

5.1. The vision of National Bank:
Ensuring highest standard of clientele services through best application of latest
technology, making due contribution to the national economy and establishing
ourselves firmly at home and abroad as a front ranking bank of the country are
cherished vision.
Analysis of the Vision statement:

As all vision statements should, the statement of National Bank presents the future
business scope and long term aspirations

The vision statement was a bit too long and was considered not to be memorable, due
to its length and construction

Superlatives such as highest and best should have been avoided

It was forward looking and did not dwell in the past

It is feasible and makes good business sense

Although, complete, the statement should have been more spot on and not vague,
touching on so many aims.

There were three parts, one was Ensuring highest standard of clientele services through best
application of latest technology, others were making due contribution to the national
economy and establishing ourselves firmly at home and abroad as a front ranking bank of
the country are cherished vision. Trying to fit in three aims, the banks vision statement
seems to have lost focus. Simply saying establishing ourselves firmly at home and abroad as
a front ranking bank of the country are cherished vision would have sufficed, as it would
carry the previous two aims with it, as front ranking bank would have both highest standard
of clientele service with technology and would make due contributions to the economy.

5.2. Mission statement:

Efforts for expansion of our activities at home and abroad by adding new dimensions
to our banking services are being continued unabated. Alongside, we are also putting
highest priority in ensuring transparency, accountability, improved clientele service as
well as to our commitment to serve the society, through which we want to get closer
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and closer to the people of all strata. Winning an everlasting seat in the hearts of the
people as caring companion in uplifting the national economic standard through
continuous up gradation and diversification of our clientele services in line with
national and international requirements is the desired goal we want to reach.

The mission statement analysis:

States current business scope and dwells in the present

It does not mention--who we are, but does mention what we do i.e. provide
banking service

Mentions why are we here as they are to serve society

What is being satisfied is hinted at as Banking services indicate a banking need

People of all strata are their customers or are the people being satisfied

how are they being satisfied is mentioned citing improved clientele, service,
accountability and so forth

5.3. Relationship between company value and vision statement:

National banks core values are as follows:

Integrity

Teamwork

Open
Communication

Quality
Core

Values

Continuous self
improvement

Performance
Driven

In integrity, NBL indicates how it will protect its customers information, treat everyone
equally, and create environment to maintain customer trust. This could be included in the
highest standard of clientele service part of the vision statement.

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With Open Communication, it pledges to build customer relationships based on integrity

and respect, offer various products, and committed to prosperity of the customer and
shareholders. This could again be attributed to the highest standard of clientele service.
The Performance Driven Value talks about how customers and employees are judged in
terms of their performance.
Continuous self improvement talks about continuous learning, self-challenge of the NBL
workforce.
Quality talks about hassle free better service and of quality assets, which can be attributed to
the highest standard vision.
Teamwork speaks about interaction, open communication, and maintaining a positive
attitude.
Although the core values of NBL are highly desirable, they do not reflect nor come from the
vision of NBL. Core values do not reflect their commitment to the national economy and
becoming one of the leading banks in Bangladesh.

6. Differentiation strategy for National Bank Ltd:

In a diversified bank the strategy making challenge involves assessing multiple industry
environments and developing a set of business strategies, one for each industry arena in
which the company operates. In most diversified banks corporate level executive delegates
considerable strategy making authority to the head of each business, usually giving them the
latitude to craft a business strategy suited to their particular industry and competitive
circumstances for holding them account for the good result.
National bank is currently operating in 175 brunches in Bangladesh and there is a single
brunch manager in every brunch. Each brunch manager has to take the responsibilities of that
particular brunch. He has to follow the central rules and regulation set up by the central
authorities but in some cases they have to take their own decision. The task of crafting
National Banks overall or corporate strategy falls squarely in the lap of top level executives
and involves four distinct facets

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1) Picking new industries to enter and deciding on the means of entry:

National bank has to take continuous decisions whether to invest in new industries or whether
to buy some new securities of a new company. They always have to calculate the financial
condition of a company seeking loans from them. Besides this the bank managers also have
to be able to predict the future financial outcome of that company and that industry as well.
The bank also spreads its own shares in the market for collecting deposits from the
customers. For this purpose they have to attract the potential depositors through different
deposit schemes.
2) Initiating actions to boost the combined performance of the businesses the bank has
entered:
Central authorities of National Bank always help their brunch subsidiaries by supplying
missing skills, financial resources and technological know-how or managerial expertise to
better perform key value chain activities and by providing new avenues for cost reduction.
They can also acquire different securities of different company and merge them to get a
stronger return. Usually a diversified Bank will pursue rapid growth strategies in its most
promising businesses.
3) Pursuing opportunities to leverage cross business value chain relationships and strategic
fits into competitive advantage:
The authorities of national bank spends considerable time trying to capitalize on cross
business opportunities such as transferring skills or technologies from one brunch to another,
reducing cost via sharing use of common facilities and resources and utilizing the companys
well-known brand names and distribution muscle to grow the sales of newly acquired
products.
4) Establishing investment priorities and steering corporate resources into the most
attractive business units:
National Banks different brunches are usually not equally attractive from the standpoint of
investing additional funds. It is incumbent on corporate management to a) decide on the
priorities for investing additional funds in the companys different businesses b) channel
resources into areas where earning potential are higher and away from areas where they are

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lower and c) divest business unites which are chronically poor performer or are increasingly
in unattractive industry.
6.1. Strategic alliances and partnership:
Building organizational bridges with external allies is accomplished by appointing
relationship managers with responsibility for making strategic partnership. National Bank has
sufficient number of relationship managers in its every brunch. These relationship managers
help maintain a trustworthy relationship with the giant customers. Relationship manager of
National Bank has many roles to play like a) getting the right people together b) promoting
good rapport c) seeing that plans for specific activities are developed and worked out d)
helping adjust internal organizational procedures and communication system e) ironing out
internal operating dissimilarities and f) nurturing interpersonal cooperation. National Bank
has strategic alliance with several other banks for facing the liquidity crisis. It can take loans
from those banks in case of liquidity shortage. National bank has also strategic alliance with
some brokerage house and some law firms to deal with the legal issues successfully.

6.2. Strategic advantages and disadvantages of National Bank

NationalBank is a centralized organization. Decisions on most matters are pushed to
managers up the lines who have the experience expertise and judgment to decide what is the
wisest or best course of action. As a result it has some advantages and disadvantages as well
Chief advantages:
a) Tight control from the top fixes accountability
b) Facilitate cross business coordination and capture of strategic fits in a diversified
bank.
Primary disadvantages:
a) Lengthens response times because management bureaucracy must decide on a course of
action
b) Does not encourage responsibility among lower level manager and rank-and-file
employees

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c) Discourage lower level managers and rank-and-file employees from exercising any
initiatives they are expected to wait to be told what to do.

6.3. Outsourcing strategies for National Bank Ltd:

National bank has some outsourcing strategies. When an organization applies for loans to
national bank, it checks the balance sheet and the financial report of that organization by
some audit firms. This kind of financial analysis is outsourced to some esteemed audit
firms. Besides this national Bank has to deal with some legal issues continuously which
they usually outsource to some law firms. To maintain these outsourcing activities they
have to keep good relationship with those firms. National Bank has several ATM booths
inside and outside Dhaka city. To carry cash to those booths is a very security concerned
issue and national Bank outsource this job to some private security ensuring organizations.

7. Evaluating Resource and Position of National Bank Ltd.

7.1. How well the present strategy is working for National Bank Ltd.
Established as the first private sector Bank fully owned by Bangladeshi entrepreneurs, NBL
has been flourishing as the largest private sector Bank with the passage of time after facing
many stress and strain. The member of the board of directors is creative businessman and
leading industrialist of the country to keep pace with time and in harmony with national and
international economic activities and for rendering all modern services.
Despite various setbacks in economy, performance of National Bank Limited may be termed
as satisfactory in respect of deposit mobilization and profit earning. It has both conventional
and various credit schemes including small business loan, housing loan, festival loan that
help in catering to the needs of a large number of customers with diversified sectors and
ensures steady earnings for the bank. As a commercial bank NBL is to manage their foreign
currency exchange risk to overcome the challenges of loss of foreign exchange business.

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7.2. SWOT Analysis for National Bank Ltd.

Strengths:
NBL is a very competitive organization. It is operated by a very efficient
management group. There is a good employee-employer relationship in its head office and
also its all b r a n c h e s . I t h a s a h e a l t h y d i s l i k e o f i t s c o m p e t i t o r s . N B L h a s
s p o n s o r e d t o t h e t o p programs, seminars, writing competition and gained valuable
coverage. I t h a s a b e t t e r f i n a n c i a l p o s i t i o n t h a n o t h e r s i n t h e b a n k i n g
b u s i n e s s . I t i s s t r o n g a t r e s e a r c h a n d development, as is evidenced by its
evolving and innovative product & service range. NBL has more social awareness
than other banks in Bangladesh right now.

Weaknesses:
The organization does not have a diversified range of products & services. Still the bank is
not fully computerized. Manual registers are used in some cases. However, the income of the
business is still heavily dependent upon its share on the retail market. This may leave it
vulnerable if for any reason its market share erodes. The retail sector is very price sensitive.
But it pays very less interest than other banks. It has less promotion campaign than the
other banks, because they believe brand value is the top promoting entity for the company.
Opportunities:
NBL has a goodwill that it provides different banking services to the people with a minimum
cost and cut a very little charge on its transactions. It has the opportunity to build up
more branches to make more convenient for the customers. The banking business of NBL
and its other social activities have increased day by day. Sophisticated customer service
scheme of the NBL is preferable to customers than other banks. Products & services
development offers NBL many opportunities. There is the opportunity to develop products
and services such as insurance business & huge investment in capital market etc. Such high
value items will tend to have associated with them, high profits.
Threats:
The new technology emerges to protect the currency value & use options for better credit rate
earnings. The market for banking sector is very competitive. Competitors are developing
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alternative brands to take away the market share of NBL. The roles and regulation of the
government and conventional laws of Bangladesh are also act as threats for the growth of
banking business development in Bangladesh. As discussed above in weaknesses, the retail
banking sector is becoming price competitive. This ultimately means that retail consumers
are transacting in bank around for a better deal. So if NBL charges a comparative high price
for a bank account service, or loan rate service, then the customers could go to the other bank
to compare fees &charges for the exactly the same services, and will take decision the
cheaper of the two.

7.3. PESTEL Analysis of NBL

Political:

The paid up capital of NCC bank shall not be less than taka 400.00 Core as required
under Bank Company Act 1991. The share capital will be formed with ordinary shares
only.

Bangladesh Bank is constantly monitoring the activities of National bank.

Political disorder strongly affected NBLs Performance.

Deposits, Investments are going decrease due to Hartal and strikes.

Whenever Bangladesh Bank issues Bonds, NBL has to buy some of those bonds

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Economical:

Bangladesh has a slow moving economic growth. In 2012 it was 6.30%. As economic
growth is lowering people have less money thus bank like NBL faces problem to
collect deposit from client.

Inflation rate is 7.74% which indicates that people spend more money. Thus they are
unable to save and for that reason bank faces liquidity crisis.

Foreign Currency Reserve is increasing for that reason Exchange Rate is decreasing.
As a result taka value is depreciated in terms of other Foreign Currency.

Social:
Population is one of the major factors affecting the industry as the growth in population will
indirectly help the bank to capture more market with more people. Life styles is another
factor which affect the industry, the current life styles of the people in Bangladesh are
increasingly becoming like nuclear families, as both the parents would be working there
would be a possibility of more bank accounts, which would mean more sales for the
company. The third factor is the level of education, as Bangladesh is still a developing
country more than 50% of the population is illiterate; creating the awareness for the product
is a big challenge and one of the more contributing factors.

Technological:

NBL bank very promptly started their online banking service.

NBL bank also offers SMS banking service.

NBL bank has fully computerized baking system.

NBL bank is also using intranet connection. Through this intranet connection all the
branches of NBL get access to shared information.

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Environmental:

If a garment has ETP in that case National bank does financing to that garment.

NBL bank encourages online banking to protect environment. Thus NBL promptly
started online banking system which took less than one year to start.

To reduce paper use NBL start SMS banking.

NBL also tries to follow green banking.

Legal:

For loan and Advance NBL have to follow Bangladesh banks instruction.

NBL has its own loan policy. But they cannot directly implement that policy. They
have to compile their own policy with the Bangladesh banks instruction.

Bangladesh bank acts as a regulatory body of NBL.

NBL has both internal and external auditors to protect corruption.

Bangladesh Bank do off sight supervision on NBL based on quarterly financial report.

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7.4. Value chain of National Bank Ltd.

Figure: Value chain model for NBL

The value chain in National Bank Ltd is unique because it is based entirely around the
production of services. In this bank, the "raw materials" are lenders and borrowers
(private/public firms and individuals) that appear at both the beginning and the end of the
chain. The products provided are divided between credit intermediaries (both depository and
non-depository) and financial intermediaries. It primarily collect funds through deposits and
lend funds by issuing loans. The banking transaction does not represent the end of the
relationship between the lender and the borrower. Banking services generally entail the
establishment of a relationship between the two and as a result, firms perform a variety of
activities before and after the sale of a product, which allow for multiple streams of value
capture.
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8. Conclusion
Now NBL is on line to establish trade and communication with the Prime International
banking companies of the world. As a result NBL will be able to build a strong root in
international banking horizon. Bank has been drawing arrangement with well conversant
money transfer service agency "Western Union". It has a full time arrangement for speedy
transfer of money all over the world.
The emergence of National Bank Ltd. in the private sector is an important event in the
Banking arena of Bangladesh. When the nation was in the grip of severe recession, Govt.
took the farsighted decision to allow in the private sector to revive the economy of the
country. Several dynamic entrepreneurs came forward for establishing a bank with a motto to
revitalize the economy of the country. National Bank Limited was born as the first hundred
percent Bangladeshi owned Bank in the private sector.

9. References
1. Annual report of National bank ltd.-2012-13
2. www.nblbd.com.www.nblbd.com
3. Weirich Heinz & Koontz Harold, Management 10th Edition, McGraw Hill. Inc.
4. Money and Banking: Md. Abdul Hamid.
5. Decenzo David A. & Robbins, Stephen P. -Human Resource Management, 7th
edition. John Wiley & Sons, Inc.
6. Chase& Acquilano Operations Management
7. Krajewski. Lee, J& Ritzman, Larry P. Operations Management 6th Edition, Pearson
Eucation.
8. Banking Theory and Practice: K.C. Shekher.

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