JS BankEvaluation of the Performance Appraisal System

Introduction

JS Bank is a majority-owned subsidiary of Jahangir Siddiqui & Co. Ltd. andcurrently, operates 323 branches in 161 cities and 1 international branch inManama.

JS Bank Limited operates in the Commercial banking sector.

It is a scheduled bank engaged in commercial banking and relatedservices.

Introduction – JS Bank Pakistan

JS Bank Limited commenced operations in Pakistan as a fully scheduled bank on December 30, 2006.

JS Bank Limited also has a Primary Dealer license for government securities from the State Bank of Pakistan.

JS Bank’s focus is to provide a quality and innovative range of banking services and products. The Bank’s key activities can be categorized into these Business Units:

1. Retail and Consumer Banking

2. Treasury

3. Corporate & Commercial Banking

4. Investment Banking

History

JS Bank Limited has been formed after the merger and amalgamation ofJahangir Siddiqui Investment Bank Limited and commercial bankingoperations of American Express Bank Ltd Pakistan

In 1999, Jahangir Siddiqui Investment Bank Limited (JSIBL) was formedwhen Jahangir Siddiqui & Co. Ltd. acquired Citicorp Investment Bank(Pakistan) Limited.

JSIBL principally mobilizes funds through issuance of Certificates ofInvestment to individual investors, corporate clients, and financialinstitutions.

In 2006 the number of branches was 4, which increased to 9 in 2007. In2008 the number increased to 39 and to 101 in 2009. In 2010, the numberof branches were 129. Currently, JS Bank has 307 branches in 152 cities.

Vision of JS Bank

To provide quality and innovative range of banking services andproducts to our customers through a highly motivated team ofprofessionals, while maintaining high ethical and regulatorystandards, thereby generating sustainable returns to ourshareholders.

Mission of JS Bank

To be a preferred partner of our customers by providing completefinancial solutions exceeding service expectations, and to do sothrough a single relationship via convenient distribution channels,both conventional and non-conventional.

SWOT Analysis of JS Bank

Strengths:

1. Facility of foreign exchange to its customers.

2. Customer care center for its customers.

3. Online banking (online cash deposit and withdrawal, online balance inquiry).

4. Locker facility to customer at all branches.

5. Cooperative staff.

6. Customer satisfaction.

7. Continuous improvement.

8. Employee respect and dignity.

9. It has a reliable and easy to use internal system.

10. High context culture can only be seen in JS Bank i.e. are focused on buildingrelations with customers.

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Weaknesses:

1. Competition pressure

2. Financial Pressure

3. Individual differences

4. Low pay packages

5. Bad promotion policy

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Opportunities:

1. JS bank is covered by many competitors. It has an opportunity to do anaggressive marketing to increase its business volume.

2. Stoke exchange is very volatile and takes immediate effect, so in time of crisesinvestors return to saving deposits.

3. Extra advertising

4. Consumer banking

5. 24 hrs. ATM network

6. Foreign investment

7. New branches

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Threats:

1. Inflation

2. Government policies regarding tax.

3. Competitors in the banking sector

4. Current economy conditions of the country.

5. Weak economic conditions

6. Unpredictable future.

7. High interest rates.

8. Increase in non-performing loan.

Bank Key Activities - Retail Banking

Kamyab Business Account

• Free issuance of Pay orders and Demand drafts.

• Countrywide banking.

• Unlimited transactions.

• ATM/ Debit card facility.

• Pick and Drop facility for Pay orders and Demand drafts.

• Tele-banking

Rupee Plus Account

• 6 tiers with attractive profit rates.

• Countrywide banking facility.

• ATM/ Debit card facility.

Bank Key Activities - Treasury

The Bank's client-centric treasury endeavors to partner its customers in ensuring they use the financial markets to optimize their risk profile and enhance value to their stakeholders.

The Treasury seeks to do this by becoming the risk solutions provider of choice, offering quality treasury products, and being the leader in product innovation.

• Foreign exchange

• Primary dealership

Bank Key Activities - Corporate Banking

As a specialist service provider, They understand the expectations of their corporate customers, and provide tailor made products and services to meet their exact needs.

• Loans

• Shares

• Trade Finance

• Export Services

• Import Services

Bank Key Activities - Investment Banking

JS Bank’s investment banking group has been the pioneer of numerous landmark transactions brought to the domestic capital markets.

The group’s legacy dates back to the 90’s through a closely held partnership with the then eminent Bear Stearns.

Interview

Decision making process for goal achievement

First they set goal then arrange meeting with management team and discussabout goal and then prepare a plan for goal achievement and then execute it bydividing the staff on the basis of their expertise and then assign task to eachgroup.

Adjustment of new Employees in organization

They facilitate employee by providing friendly environment to help him adjust intheir environment fearlessly.

The process start with 1-3 months training by moving employee from desk todesk so employee would get awareness with rule and regulations and workingprocess and during this period of time management will check interest ofemployee and then assign him department according to his interest andexpertise.

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Decision and steps for market competition

They have a department of product development, this department takes feedbackfrom different stakeholders before launching the product and get informationabout the criteria of same product in different banks and then they make changesaccording to stakeholder’s feedback, and then take feedback after launching theproduct.

Maintaining relationship with employees

They arrange meeting after specific duration and discuss about employeesproblems and find solutions to them.

Change management

They facilitate positive change, if the change can bring positive effects to theenvironment and organization then that change is facilitated.

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Managing relationship with clients

They give training to their employees, how to deal with customers if loweremployee wouldn’t be able to satisfy customer than they refer customer to thehigher management.

Culture of Organization

Their culture is flexible, but they follow time and dressing constraints.

Response towards social responsibility

They focus on profit but within rules and regulations

Current position

Current positioned by Pacra AA-

Conclusion

Due to wide expansion of branches in all over the Pakistan, JS bankin the near future shall capture market in regard to its extraordinary customer services

Recommendations

Branch establishment in ruler areas.

They should offer more services for youth as in Pakistan they comprise a high percentage of 67%.

Banking should be made on Islamic basis on large scale.

Should provide proper guidance to peoples who are not their clients.