Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd”Chapter One Introduction 1 Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Introduction IDLC Finance Ltd, a leading Non-Banking financial institution (NBFI) The company's wide array of products and services range from retail products, such as home and car loans, corporate and SME products including lease and term loans, deposit schemes, structured finance services and so on. The company's wide array of products and services range from retail products, such as home and car loans, corporate and SME products including lease and term loans, deposit schemes, structured finance services ranging from syndications to capital restructuring and capital market services. The company also strengthened its presence in the country's growing stock market with launching a subsidiary-IDLC Securities Limited-which is offering full-fledged brokerage service for retail and institutional clients. From last 2 years, they are getting more and stronger. With a strong organizational structure, they are on the way to be the number one leasing company in Bangladesh. A. Background The main objective of BBA program is to create skillful professionals for the business sector in Bangladesh specially in banking sector. To become skilled in any field a person should know the pros & cons of that particular area. However, it cannot be achieved only through the reading the book. There is a gap between thing mention in the book and real life situation. Keeping this fact in mind, BBA program is design to reduce this gap between this two and to reinforce the theoretical knowledge acquired so far from BBA program. Therefore every student of BBA program is sent to different organization for practical orientation at the end of the program and they require to submitting a report after completion of the practical orientation. I am very glad for getting the opportunity to accomplish my practical orientation at the IDLC Finance Company Ltd. 1.1 Objectives of the study/research The objectives of the report are as follows: The basic objective of this paper is to be acquainted with how a financial institution evaluate individual and corporate potential client to serve them consumer loan services, to sanction different types of loan and advance of different limit to different customer and charges different 2 Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” interest rate to different borrower as well as helping in transaction. That is what factors determines these decision. The specific objectives are: 1. To fulfill the partial requirement of BBA program. 2. To be acquainted with the background of the Finance Company, IDLC Finance Company Ltd. 3.To know more about Consumer Loan policy and the credit sanctioning policy . 4. To have an adequate knowledge about which factors mostly affects the loan sanctioning decisions, what amount of loan should be sanctioned to a particular loan applicant depending on his credit worthiness. The basic objective of this paper is to be acquainted with how a non banking financial institution evaluate individual potential borrower - based on which sanction different of credit limit to different customer and charges different interest rate to different borrower. That is what factors determine this decision. 1.2 Methodology In order to accomplish the study objectives a number of variables were identified for exploration. The study is primarily a descriptive and an empirical one. No major statistical analysis and advanced technique was used to reach the findings. Rather logical judgment was used to reach at the conclusions. Sample Information Samples are collected from the corporate client of IDLC finance Ltd of Consumer Division.Here, the samples had been picked up on a judgmental basis. For the organization part, much information had been collected from different published articles, journals, brochures and web sites. All the information incorporated in this report has been collected both from the primary sources and as well as from the secondary sources. 1.3Rationale of the Study 3 Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Theoretical knowledge is not enough for a business student. Because there is a far gap between theoretical knowledge and practical field, our internship program has been launched mainly to bridge this gap. Bangladesh is one of the developing countries with a large unemployed population. As the opportunity to expand agricultural sector is limited, so we have to incline to expand industrial sector to overcome our existing problems like unemployment, low economic growth and low living standard. Here industrial sector is very weak. To consider the real situation government has established Bangladesh Shilpa Bank to stimulate industrialization. This bank provides term loan to different industries and entrepreneurs. The purpose of Bangladesh Shilpa Bank is not only to grant credit but also to develop the country through industrialization by selecting correct project and provides assistance in different ways to implement the selected project successfully 1.4 Scope and Limitation The scope of the report was to find the financial aspect of the operation of the bank. In addition, the report was done to find the effectiveness of the different Department’s services. Further more, the report also focused on the feasibility study and practical market issues about new ventures and operational procedures of Financial Institutions. An infrastructure of organization has been detailed, accompanied by company corporate perceptive and look into the future. The scope of this report is limited to the overall descriptions of the bank, its services, and its position in the industry, and its competitive advantage. The scope of the study is limited to organizational setup, functions, and performances. Limitation, which I have faced while doing my internship report are discussed below: * As, I had more dependence on the primary sources, so there might be some level of inaccuracy with those collected information. Though, adequate verification and cross- checking was used, to minimize the error level. 4 Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” * Confidential information regarding past profit or product cost, financial information was not accurately obtained. Alike all other banking institutions, DBBL is also very conservative and strict in providing those information. In those cases, I have relied upon some assumptions, which in result have created certain level of inaccuracy. Still, I had tried my best in obtaining those sensitive information, as much as possible. * Next, many of the analysis on the obtained data are based upon my sole interpretation. This in result might bring some biases, as lack of knowledge and depth of understanding might hinder me to produce an absolute authentic and meaningful report 5 Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Chapter Two Industry Information 6 . such as investment.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Non-banking financial Sector of Bangladesh 2. has increased from 20 percent to 34 percent during the same period implying increased focus on the former. The share of term loans. Lease financing. Examples of these include insurance firms. contractual savings. NBFIs facilitate bank-related financial services. and micro loan organizations.2 Non-banking financial institutions in Bangladesh : Non-banking financial institutions 7 . currency exchanges. though some are also diversifying into other lines of business like term lending. respectively. 2. merchant banking. pawn shops.1 Overview of non-banking financial institution: A non-bank financial institution (NBFI) is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. and market brokering. cashier’s check issuers. on the other hand. term lending and housing finance constituted 94percent of the total financing activities of all NBFIs up to June 2006. housing finance. venture capital financing etc. A break-up of their financing activities reveals that the share of leasing and housing finance in the total investment portfolio of NBFIs has gradually decreased from 59 and 15 percent. The evolvement of NBFI business. as they provide “multiple alternatives to transform an economy’s savings into capital investment act as backup facilities should the primary form of intermediation fail. check cashing locations. The major business of most NBFIs in Bangladesh is leasing. in 2002 to 46 and 14 percent in June 2006. Alan Greenspan has identified the role of NBFIs in strengthening an economy. equity financing. risk pooling. Agrani SME Finance Co.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 1. Infrastructure Development Company Limited (IDCOL)¿ 18. Uttara Finance and Investments Limited 2. National Finance Ltd 13. 30. Prime Finance & Investment Ltd 8. Hajj Finance Company Limited 22. Industrial and Infrastructure Development Finance Company (IIDFC) Limited 20. The UAE-Bangladesh Investment Co. Ltd. International Leasing and Financial Services Limited 17. 15. People's Leasing and Financial Services Ltd 11. IDLC Finance Limited 21. Phoenix Finance and Investments Limited 10. First Lease Finance & Investment Ltd. National Housing Finance and Investments Limited 12. United Leasing Company Limited (ULCL) 3. Industrial Promotion and Development Company of Bangladesh Limited(IPDC) 19. Saudi-Bangladesh Industrial & Agricultural Investment Company Limited (SABINCO) 6. Reliance Finance Limited 7. LankaBangla Finance Ltd. Premier Leasing & Finance Limited 9. 24. Ltd 5. Bay Leasing & Investment Limited 28. Union Capital Limited 4. Bangladesh Industrial Finance Company Limited (BIFC) 29. Delta Brac Housing Finance Corporation Ltd. MIDAS Financing Ltd. GSP Finance Company (Bangladesh) Limited (GSPB) 23. FAS Finance & Investment Limited 25. Fareast Finance & Investment Limited 26. Ltd. Islamic Finance and Investment Limited 16. Bangladesh Finance & Investment Co. (DBH) 27. (MFL) 14. 8 . Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Chapter 3 Organization Part 9 . and is a standard bearer in this regard in the financial sector of Bangladesh. IDLC is highly respected by its clients. IPDC of Bangladesh Limited. IDLC Investments Limited and IDLC Securities Limited for carrying out its capital market operations. as the first-ever leasing company of the country.). home loans.. As the company evolved over the years. and its strong ethical practices. and Brokerage services. With significant growth in its business and profit over the last few years. Rights Shares Offering etc. through the collaboration of IFC. German Investment and Development Company (DEG). employees and regulators for its professional pool of resources. RPO. the foreign shareholding gradually moved out and the last foreign shareholding was bought out by local sponsors in 2009. The current product portfolio consists of Corporate and Structured Finance solutions for local and multinational corporate houses. its progressive and enabling work environment. IDLC Finance Limited is at present the largest multi-product Non-Bank Financial Institution in Bangladesh. its silver jubilee year. Kookmin Bank and Korean Development Finance Corporation. the Aga Khan Fund for Economic Development. peers. Retail. the company has consistently demonstrated exemplary corporate governance and strict statutory compliance. IDLC’s strong focus on revenue diversification has led to the establishment of different client segments in the Corporate. Moreover. Personal financing products such as deposits.1 Overview IDLC Finance Limited was established in Bangladesh in 1985. Bond Issuance. car loans. IDLC has decided to step up its 10 . financing facilities for Small and Medium Enterprises. With this diversified array of products. Merchant Banking solutions such as Portfolio Management and Investment Banking (IPO. The Group is represented by over 609 employees working in 26 branches in the major cities of the country. the City Bank Limited. SME and Capital Markets of Bangladesh. personal loans etc.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 3. starting from 2010. having two wholly-owned subsidiaries. and SadharanBima Corporation. IDLC employees shall: 11 . the UN Global Compact (UNGC) and the UN Environment Program Finance Initiative (UNEP FI). As part of this commitment. IDLC is now active in promoting responsible practices among its stakeholder groups. while it is streamlining its own policies and practices to emerge as a truly responsible brand.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” commitment to sustainable business practices. It has subscribed to a number of leading local and international sustainability initiatives including the Bangladesh CSR Centre. mostly its employees and clients. superior customer experience and sustainable business practices Vision IDLC will be the best financial brand in the country. and IDLC is the first company to become a member of UNEP FI from Bangladesh. Strategic Objectives Grow and develop our talent pool Fully leverage the new core banking platform Optimise distribution points Grow and diversify funding sources Grow sales and service capabilities in the Consumer Division Aggressively grow the SME portfolio Focus on top-tier clients in the Corporate segment Consolidate capital market operations and enhance capabilities Embrace internationally-accepted corporate governance and sustainable business practices Core Values Integrity Customer Focus Trust and Respect Equal Opportunity Eco-friendly Passion Simplicity Code of Conduct and Ethics In accordance with the approved and agreed Code of Conduct. with particular focus on environmental and social development. Mission IDLC will focus on quality growth. agencies and public Act and encourage others to behave in a professional and ethical manner that will reflect positively on IDLC employees. competence. their profession and on IDLC at large Strive to maintain and improve the competence of all in the business Use reasonable care and exercise independent professional judgment Not restrain others from performing their professional obligations Maintain knowledge of and comply with all applicable laws. deceit or misrepresentation or commit any act that reflects adversely on their honesty. rules and regulations Disclose all conflicts of interest Deliver professional services in accordance with IDLC policies and relevant technical and professional standards Respect the confidentiality and privacy of customers.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Act with integrity. dignity and in an ethical manner when dealing with customers. people and others with whom they do business Not engage in any professional conduct involving dishonesty. prospects. fraud. trustworthiness or professional competence Organogram : Organization 12 . colleagues. Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 3. 1985 under the Companies 13 .2 Company Information Registered Name of the company IDLC Finance Limited IDLC stand for Industrial Development Leasing Company Legal Form A public limited company incorporated in Bangladesh on May 23. respectively.idlc. 3. The company licensed as Financial Institution Act. Company Registration No C 14218/1992 of 1984-1985 Bangladesh Bank License No BCD (Non-Banking)/Dhaka/2/1995 Tax Identification Number (TIN) 210-200-1222/LTU/Dhaka VAT registration Number 9011043908 Registered Office and Mailing Address IDLC Finance Limited st Bay’s Galleria (1 Floor) 57 Gulshan Avenue. IDLC always endeavors to diversify into other financial 14 .3Products and Services of IDLC : To ensure steady and long term growth as well as to sharpen its competitive edge in a changing and challenging business environment. 1993 on February 7.com Email address:mailbox@idlc. Citibank N. 883 5887 Corporate Website: www. Gulshan 1 Dhaka 1212. Bangladesh Tel: +880 2 883 4990 (Auto Hunting) Facsimile: +880 2 883 4377.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Act 1913 and listed with Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited on March 20. 1993 and November 25.com Auditor HodaVasi Chowdhury & Co. Chartered Accountants BTMC Bhaban (Level 8) 7-9 KaziNazrul Islam Avenue Karwan Bazar C/A. 1995. A. Dhaka 1217 Principal Bankers: Standard Chartered Bank. 1996. Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” services which have long term prospects. 6 Factoring: Under this scheme. The payment is collected from the customers and the balanced 15 . IDLC finances receivables of supply of goods or delivery of services on credit to help the clients realize the maximum portion of their payment soon after they have made the delivery to the buyer. 3 Equity Financing: IDLC invests money into equity of both publicly traded and non-traded companies for dividends and capital gain. 2 Term Loan: The customers are offered loan facilities for a determined term at a negotiated rate. corporate financing and other investment banking related services. issue management. In early 1999. In 1997. 1 Leasing: Assets are leased to clients on predetermined rental basis for a fixed term with a purchase option at the end. IDLC started its operation of underwriting. which have broadened its customer base and have contributed significantly to IDLC’s growth and profitability. after getting license of Merchant Banking from Securities and Exchange Commission.Revolving ICD which consists of single disbursement of funds b) Revolving ICD where multiple disbursements and collections take place 5 Work Order/ Purchase Order Financing: The clients are financed against their work order or purchase order on a revolving basis. it expanded its range of services by introducing Housing Finance and Short Term Finance. The products and services are as follows. 4 Inter Corporate Deposit (ICD): This disbursement scheme is offered to clients under two variations: a) Non. 8 Securitization: IDLC sell financial instruments of organizations in local financial market backed by their asset/cash flows such as loan. debenture. 11 Deposit Schemes: IDLC offer different variety of deposit schemes for clients. 16 . 7 Syndication: IDLC helps to raise fund for clients with huge financial requirement through syndication and also help them with the documentation. 10 Cap Invests: IDLC maintains a non-discretionary portfolio account for clients where they have absolute power to make investment decisions. lease. lease etc. for their personal use and the ownership is transferred on loan repayment. The portfolio manager provides margin loan to clients and also prepares the list of securities in which they can invest. 9 Bridge Finance: This refers to short-term finance (maturity of not more than 12 months) in anticipation of immediate long term financing such as public issue. brand new or reconditioned. private placement. loan. execution and administration of the syndicated finance.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” amount is re-reimbursed to the clients. o Cumulative Term Deposit o Annual Profit Term Deposit o Monthly Earner Deposit o 500 Days Term o Double Money Deposit o Triple Money Deposit 12 Car Loan: Term loan are offered to clients for acquiring car. syndication. etc. for office chamber/space for professionals etc. 16 Underwriting: IDLC makes a univocal and irrevocable commitment with an issuing company to subscribe to the securities of that company when the existing shareholders or the general public do not subscribe to the securities offered to them. under two different schemes: Developer’s Finance Scheme Corporate Finance Scheme 15 Private Placement: IDLC places the shares/debenture with both domestic and overseas investors (institutions or individuals) on private placement basis. 18 Financial Advisory Service: IDLC help the existing venture or a new venture by providing various advisory services such as 17 . debentures etc Right Issue Underwriting of public securities-loan. IDLC plan. 14 Real Estate Finance: IDLC finances clients to construct house. coordinate and control the entire issue activity of clients and direct other agencies for successful marketing of securities. debenture 17 Issue Management: Under this activity. lease.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 13 Home Loan: IDLC offers loans to purchase apartment to individuals for their personal use. preferred stock. The different types of underwriting offered are: Initial Public offering (IPO) of common stock. renovate and extend house. financial engineering etc. project counseling.4 Subsidiaries IDLC Securities Limited (IDLCSL) 18 .Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” corporate counseling. capital restructuring. Product List NANE OF PRODUCT LINE PRODUCT NAME Syndication Advisory Services Structure Financing Merger & Acquisition Securitization Local Enterprise Investment Center Real Estate Finance Real Estate Financing Home Loan Short term Financing Factoring of Account Receivable Work order Finance Cumulative Term Deposit Annual Profit Earner Deposit Deposit Schemes Monthly Earner Deposit Double Money Deposit 3. issue management. underwriting of securities and advisory services. 2010 in the name and style “IDLC Investments Limited” to transfer its merchant banking activities. a fully owned subsidiary of IDLC. the Company formed a separate subsidiary on May 19. It is also a Depository Participant (DP) of Central Depository Bangladesh Limited (CDBL). 1993 25-Nov-96 Listed with the Chittagong Stock Exchange Limited 15-Jan-99 Commencement of Corporate Finance and Merchant Banking operations 22-Nov-04 Launching of Investment Management Services "Cap Invest" 2-Jan-06 Opening of first SME focused branch at Bogra 19 . offers full-fledged international standard brokerage service for retail and institutional clients. IDLC Investments Limited (IDLCIL) As required by the Bangladesh Securities & Exchange Commission (BSEC).Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” IDLC Securities Limited. 2011 and commenced its business on August 16. The Company obtained license from BSEC on August 02. 3.5History (Key Milestone) Date Description 23-May-85 Incorporation of the Company 22-Feb-86 Commencement of leasing business 1-Oct-90 Establishment of branch in Chittagong. 2011. The main businesses of the company are portfolio management. the main port city 20-Mar-93 Listed with the Dhaka Stock Exchange Limited 7-Feb-95 Licensed as Non-Banking Financial Institution under the Financial Institutions Act. It has seats on both Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited. a wholly owned subsidiary of IDLC 5-Aug-07 Company name changed to ‘IDLC Finance Limited’ from ‘Industrial Development Leasing Company of Bangladesh Limited’ 6-Jan-09 Opening of Sylhet Branch 26-Aug-09 Opening of Gazipur SME Booth 24-Feb-10 Inauguration of Savar Branch 8-Aug-10 IDLC opened its 2nd branch in Chittagong at Nandankanon 27-Oct-10 IDLC stepped in Comilla 27-Dec-10 Opening of Keraniganj Branch 15-Jun-11 IDLC started its operation at Mirpur 9-Aug-11 Inauguration of Tongi Branch 16-Aug-11 Commencement of operation of IDLC Investments Limited. a wholly owned subsidiary of IDLC 18-Jan-12 Opening of Jessore Branch 11-Mar-12 IDLC re-brands 8 Jun 2014 Opening of the Khulna Branch 28 Oct 2014 Opening of the Bhulta Branch 20 .Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 6-Apr-06 Opening of Uttara Branch 1-Jul-06 Relocation of Company's Registered and Corporate Head Office at own premises at 57 Gulshan Avenue 18-Sep-06 Commencement of operation of IDLC Securities Limited. Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 10 Nov 2014 Opening of the Natore Branch Enter Corporate Deposit Issue Management Underwriting Private Placement Merchant Banking Services Portfolio Management Trust ship Management Car Loan Personal Loan Personal Loan Small Business Medium Business Supplier Finance SME Loan Women Entrepreneur Loan Commercial Vehicle Loan Capital Market Portfolio Management Investment Banking Market Commentary Brokerage 21 . Production costs: As the buyers are aware of cost. (B) Threat of new entrants: Established companies: all the companies are already established and they are performing highly. Fixed rate: In this industry. D) Bargaining power of suppliers: 22 . here the bargaining power of buyer is high. So.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 3. Legal Barriers: The threat of new entrants is low because of high legal restrictions. Access to channels of distribution and relationships: Existing good relationships between companies and customers in banking and non-banking industry will make it difficult for new companies to enter in this industry. Overall consideration shows that the average threat of new entrant for IDLC Finance Banking industry is low. (C) Bargaining power of buyers: Buying volume: For Some buyers who can invest in large volume have the bargaining power very high. So the threat of new entrants is low. So.6External Environment Porter’s 5 forces Model A) Rivalry among the existing firms: Number of competitors: In banking and non-banking financial institution industry. the intra-industry rivalry is high. the bargaining power of buyers is high. Product differentiation: Most of the products offered by different firms in the industry are virtually identical. So. the number of firms is high. the intra-industry rivalry is high. large percentage of cost is fixed. 3. the bargaining power of suppliers is high.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Forward integrate: As the Suppliers can forward integrate. while at the same time running the business profitably. the bargaining power of suppliers is high. The policy requires much more than just 23 . green banking ensures the utilization of organizational resources in favor of the environment and the community at large and in the process. E) Threat of substitutes: Substitute products/service could be offered by Co-operative Society In online. Product differentiation: Some of the products of suppliers are highly differentiated. The concept endorses environment-friendly banking practices and deals with financial products. Because this business depends on believes and the faith of people. plays a critical role in finding solutions that aligns the interests of our stakeholders. especially our customers and shareholders. we found that the Bargaining power of IDLC Finance is high. ad-word. But still the threat of substitute products is low. IDLC’s journey on the green path The Green Banking Policy Guidelines issued by the Bangladesh Bank has opened up a number of avenues for IDLC in its quest to become green. the bargaining power of suppliers is high. like facebook. So. services and processes with the ultimate objective of reducing the carbon footprint and managing the environment in an intelligent and sustainable manner. in this case. with the broader interests of the planet. Originating in the west.7Internal Environment Green Banking ‘Green banking’ has become one of the most discussed concepts globally. By considering all the points. ad-sense. are providing account with very easy steps to use those in playing game. Hence. but now a days even you can with draw this money or you could buy products from online. Percentage of suppliers’ business: As the big depositors are low in number. it is now practiced across emerging and developing economies around the world as well. These three projects are expected to produce 300. technologies and initiatives that manage environmental impacts better. thereby providing electricity to around 20. Communication and branch level connectivity through video conferencing and Microsoft Lync has largely reduced physical travel requirements by employees. in fact. IDLC adopted server virtualization.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” pursuing green projects. the concept has come to mean a complete change in the organization’s DNA by embracing holistic policy formulation and governance IDLC undertook a number of projects that would substantially increase our share of the green portfolio In 2014.5 million for three energy-efficient environment-friendly brick kiln projects.000 people living in off-grid areas of rural Bangladesh while creating livelihood opportunities for 200 families IDLC is also in the process of raising a fund of Taka 934. IDLC financed renewable energy projects to generate 300 KW of electricity from solar energy. largely reducing power consumption and CO2 emissions every year. thus saving significant travel time and fuel consumption 24 .000 bricks per day with close to zero emission. 1Current Performance (Ratio analysis) Particulars 2013 2014 Return on Investment (ROI) 2.66 25 .31 2.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Chapter 4 Financial Highlights 4. 03 5.88% Term deposit balance 12.84 2.56 Particulars 2010 2011 2012 2013 2014 Growth Debt equity ratio (Times) 8.745 25.43 2.09 1.24 Cost of fund 12.76 19.39 Return on shareholders’ equity 35.951 51.39 1.37 3.00 2.492 43.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Return on Assets (ROA) 2.26 Non-performing loan ratio (%) 2.89%) Financial expenses coverage ratio 1.92 Loans to deposit ratio (total loans/total deposits) 1.88% Return on total assets (%) 3.25% 26 .23% Financial Ratios (Times (%) Earnings per share* 4.81 1.85% Long term liabilities 21.28 1.13:1 (0.828 22.24 22.2Financial Performance Taka in million Financial Performance 2010 2011 2012 2013 2014 Growth Total assets 26.38 9.04 (4.92 2.93 4.37 10.373 16.31:1 1.165 37.371 16.50 9.74 42.21:1 1.784 50.51 16.65 8.63 2.32 2.299 32.39:1 1.930 31.99 27.02 0.14:1 1.16 8.240 21.13 4.34 1.77 1.00% Current ratio (Times) 1.064 35.008 29.429 58.33 1.18 1.45 8.927 16.18 0.01 4.93 1. 48 43.403 2.956 1.46% 966 913 1.325 2. 2014 Types of Shareholders 2013 No.4Market Shares Comparative Shareholding Structure of IDLC as on December 31.00% Net profit after tax 1.464 17.761 3.04 (6.71% Financial expenses 1.750 100.816.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 4.822 2.575.04 Individuals 34.246 86.243 1. 2014 27 .364 3.16 58.88 43.058 1.423 63.253.07 49.047 2.252 1.668.05% Average effective tax rate 32.548 21.46 Institutions 23.82 121.079 16.000 100.327 500 713 669 1.3Operational Performance Taka in million Operational Performance 2010 2011 2012 2013 2014 Growth Operational income 3.658 32.217 1.54 32.50 Total shares held 160.138 4.187 65.64 47.875.160 2. of shares held 2014 % of total No.00 201.029 14. of shares shares held % of total shares Sponsor/Direct or 102.525 60.543 9.00 Top ten shareholders of IDLC as on December 31.390.80% Profit before tax 1.103 4.093.265.44) Operational expenses 4.146 23. 600 3.910 3.654.566.673.750 1.331 7. of % of total held shares shares held shares 45. 11.257.62 Mercantile Bank Limited 12.598 28.500 8.082.37 50.937 1.32 Sadharan Bima Corporation 12.625 7.562 7.065.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Types of Shareholders 2013 2014 No.00 Bangladesh Fund 5.634. of shares % of total No.283.145.62 15.456.123.00 16.608.32 2.321.50 Reliance Insurance Co.00 2.83 The City Bank Limited Transcom Group Limited IDLC’S share price as on December 31 Particulars 2011 2012 28 2013 2014 .870.550 1.100 1.070.261.00 Eskayef Bangladesh Ltd 12.00 14.437 1.010.335 4.00 Pubali Bank Limited 2.60 1.00 Transcraft Limited 6.076.20 Marina Apparels Limited 1.250 7.01 Bangladesh Lamps Ltd 2.031 7.065 7.432.000 8.20 6.078 0.087.01 8.418 4.246 25.50 15. The unit was established with an aim to facilitate syndication arrangements. Presently.9 74.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Highest (Taka) 140. the department has continued to arrange syndication deals in the form of term loans and working capital facilities.10 93.200 27.5 73.7 Closing (Taka) 138.000 244.30 91. working capital facilities. arranging onshore as well as offshore structured finance. SFD is involved in deals that require various modes of financing.40 62. Investment Promotion and Financing Facilities (IPFF) and subordinated bonds for Tier- 29 .42 (No. the department arranges financing through a wide range of products that include term-loans (both local and foreign currency). Over the years.5Corporate Resources: Structured Finance (STD) The Structured Finance Department (SFD) is a specialized business unit of IDLC under its Corporate Division. Being one of the leading structured finance solution providers.7 Shares traded 79.037 2. The department commenced operations through loan syndication in 2000 to meet the increasing demands for the product for large industrial and infrastructure project financing.50 91.5 75.47 51.400 685.90 64.90 62. agency and trusteeship services and pre-investment feasibility studies.710 11.49 15.7 Lowest (Taka) 137.) Market Turnover (Taka in million) 4. The department arranged a seminar on syndication titled ‘Syndication Financing in Bangladesh: Past. The department arranged 02 (Two) coupon bearing Tier-II subordinated bonds for two major banks in order to fulfill their regulatory capital requirement under the BASEL-II framework. 30 .’ The goal of the seminar was to bring all the stakeholders under a single platform and discuss different issues with regards to syndication. A significant part of our business accrued out of arranging Tier-II subordinated bonds for commercial banks. among Achievements in 2014 In 2014. While many other players in the industry were struggling to survive. In addition to the regular business.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” II regulatory capital requirement of commercial banks. The seminar received numerous accolades from various industry stakeholders and a review was published in the renowned national daily. Present and Beyond. ‘The Daily Star’. the SFD demonstrated impressive business growth despite an adverse market scenario. the SFD established several innovative ideas. we witnessed tremendous earnings growth. 1C O N S U M E R D I V I S I O N IDLC’s Consumer division was established in 1997 as part of the Company’s diversification towards the establishment of an alternative cost-effective source of funds for providing financial services to customers. the Consumer division is the second largest business segment of IDLC in terms of 31 . At present.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Chapter 5 Sectional PartConsumer Loan Services system 5. 2014: Taka 8. they will effect changes to the organizational structure. Some of their other initiatives include the following: We intend to continue to expand our geographical coverage. 2014: Taka 35.950 million) New Disbursements. 2014: Taka 12.519 million (2013: Taka 12.241 million (2013: Taka 29.598 million) Deposit Sourcing CAGR over the past five years: 22% Total number of relationship for Deposit: 6.164 million) New Deposit Sourcing. Loan Against Deposit and Term Deposit Loan Portfolio.355 5. They will implement a new and improved model for loan appraisals. 2014: Taka 17.3 Consumer Loan: 32 .402 Deposit Portfolio. 5. As they grow bigger and better.669 million (2013: Taka 10.258 million) Disbursements CAGR over the past five years: 37% Total number of relationships for Loan: 7. Overall. they plan to reach Taka 50 billion worth of portfolio by the end of 2017.587 million (2013: Taka 6. Personal Loan.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” asset portfolio and the largest with regards to funds under management (advances and deposits).2 Overview of Consumer Division Status within company: Second (in terms of Portfolio) Largest (in terms of Fund Under Management) Products and Services: Home loan. creating a leaner and more flexible division. Car Loan. car loans and personal loans) and deposit products (flexible term deposit packages and regular earner packages). thereby driving automation and infusing scalability into their operations. The significance of the division can be gauged from the fact that it works as a brand ambassador of the Company for the retail segment by reaching at the doorstep of the targeted market with its wide range of lending (home loans. Four-party Agreement Loan (FLA) RM BLA 90 days/180 days RM TLA 90 days/180 days Car loan ---------------------- Personal Loan ------------------------ Loan Against Deposit ------------------------------------ Consumer Loan Disbursements Taka in million Year 2010 2011 2012 2013 2014 2015 Taka 2439 2867 4201 6258 8587 9020 Total Number of Loan Customers 33 .Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Loan PACKAGE: IDLC Finance Limited offers a total 4 types of consumer loan LOAN PACKAGE CLASSIFICATION Home Loan 1. Tripartite Agreement Loan (TLA) 3.Biparty Agreement Loan (BAL) 2. A number of factors are such as 34 .Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Year 2010 2011 2012 2013 2014 2015 Numbers 2556 3525 5168 6013 7402 9482 Number of Car Financed (CL) Year 2010 2011 2012 2013 2014 2015 Number 118 124 93 327 680 690 Home Loan IDLC becoming the leading Home Loan Provider in Bangladesh Home Loans Available For Purchase of apartment/ house/ commercial space/ approved housing plots Construction of residential/ commercial building Renovation or extension of residential house Home Equity loan against mortgage of property Eligibility You are eligible if you are: 25 years and above but not more than 60 years of age Earning regularly from a sustainable source of employment or business Factors Affecting Your Loan Amount The home loan amount depends on your repayment capability. 308 Car loan 343 388 Personal loan 213 213 414 190 2014 Growth over 2013 15. Loan Term Residential Purpose Category Maximum Term Maximum Age Professional & Service Holders 20 years 60 years 35 .025 8. age.006 33% 787 1. value of the immovable property. number of family members and dependents.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Number of Homes Financed Year 2010 2011 2012 2013 Number 1077 1024 1053 1519 2014 2015 2083 1995 Product-wise Asset (Taka in million) Particulars 2010 2011 2012 Home loan 5.366 11. Commercial Purpose: 70% of the purchase price including registration cost. qualifications. Residential Purpose: 70% of the purchase price including registration cost or 80% of the construction cost of residential house. monthly expense. other fixed obligations.813 130% 166 142 (14%) 2013 Monthly net disposable income. nature of job / business and savings habit are taken into considerations.645 7. Interest Rate & Fees IDLC offer their clients a competitive interest rate and low fees. Employed Recent passport size photo.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Businessmen 15 years 60 years Non Resident Bangladeshi (NRBs) 10 years 60 years Commercial Purpose: For any profession. They set individual rates on the basis of a customer’s financial status. Property Insurance Mortgaged asset should have fire or earth quake insurance by any IDLC nominated insurance company. maximum 7 years Repayment Mode The entire loan to be repaid by Equated Monthly Installments (EMI) Security Mortgage of the property itself or any other equivalent security acceptable to IDLC. copy of National ID Card and Bio data Latest salary slip/salary certificate Bank statement for one year Statements of assets with copies of evidence Evidence of other income (if any) CIB Application Form Allotment agreement with developer/ owner Money receipts of amount already paid to developer/owner 36 . Documentation Required to Apply a. amount borrowed and repayment terms. Self Employed Recent passport size photo. Employment-contract Residency permit or latest work permit (if applicable) Copy of continuous discharge certificate (CDC) for merchant mariners Overseas and local bank account statements for last 12 months. Bio data and family background. 37 . Non-resident Bangladeshi (NRB) One copy recent passport size photograph Latest salary slip/salary certificate showing all deductions.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” b. copy of National ID Card and Bio data Tax assessment paper for last 3 years (Tax return & Assessment order) Profit & Loss account and Balance sheet of business for last 3 years Evidence of presents work in hand and value Bank statement for the last one year Statement of assets with copies of evidence Evidence of other income (if any) CIB Application Form Money receipts of amount already paid to developer/owner c. 11 Home Loan Shield Home Loan Shield is a specially designed Group Life Insurance Scheme. please get it translated into English and attested by the Bangladesh Embassy. IDLC Construction Loan IDLC offer loan for construction project.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Company Profile/Brochure/ Web Mail Address Power of Attorney (POA) to a Bangladeshi resident as per IDLC’s format. Benefits Borrower’s family is secured from loan burden at the unfortunate death of main earner of the family Lowest possible single premium Free of cost medical examination from recognized hospitals (cost will be borne by the 38 . or any other security acceptable to IDLC 3. The shield takes over the outstanding principal amount of their home loan with IDLC thus protecting their beloved family from burden of repayment. that requires financing.4. which protects Clients family in their unfortunate death. client can get it funded with IDLC Construction Loan Loan Term Maximum 20 years Eligibility Service Holder Professional Self-employed Landlord Business person Security of the Loan Registered Mortgage of the property to be financed. either new or existing. POA will also provide Personal Guarantee to the loan (Attachment) For the above document in a language other than English. 000/.000/. 4. if required) Income Tax relief on premium payment Eligibility Applicant’s Monthly gross income is within Tk.(this will include income of spouse in case of joint application) A minimum of two (2) years of service A resident of Dhaka or Chittagong Loan Amount IDLC provide both brand new and re-conditioned cars.000/ Applicant’s those who have no house/ apartment either in their name or their spouse/ children’s name in the areas specified above Applicant’s those who have not yet availed home loan from any bank/ financial institutions For salaried applicants. Maximum size of apartment is 1250 sft.to Taka 10. 2015 39 . 50.to Tk. 2. 25.000.000/Maximum loan term is 20 years The insurance coverage ranges from Taka 200.or 70% of the value of their car (including registration cost).000.000/.000/-. officially those who have no employee housing loan scheme or those have so but still not avail the facilities are eligible for this loan The property itself will be kept mortgaged as security Features Maximum loan amount is Tk. Moratorium period is 1 year Entire loan can be disbursed within one year from the date of first disbursement Car Loan Eligibility A salaried executive or professional or a businessman Between 22 and 60 years of age Minimum monthly income of Tk.000.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” borrower only when application is turn down by the insurer) Proportion return of premium for early loan foreclosure Financing of the premium is also available (IDLC will provide.000/. Clients can avail car loan from Tk 200. Home loan variable Interest rate matrix (%) Effective from February. 50% 13.75% ** Conditions applied Customers Segments Segments A & B Salaried Executives of large local/international/multinational organizations. 10yrs<15 yrs. professionals/ executive NRB. high commissions. prominent NGOs. 15 yrs. teacher. Fee for application form N/A Tk.00% 30 M & above 14.25% 14.+ Below 10M 12. physicians. businessmen (mid & small segment) Cost specifically Sl Title Home Loan Car Loan Personal Loan Loan Against Deposit 01. 15 yrs.50% 20 M< 30 M 13.+ Below 10M 12.75% 14. embassies.75% 13.75% 14.00% 13.50% Segment B Loan Amount Below 10 yrs.50% 13.25% 14.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Segment A Loan Amount Below 10 yrs.25% 13. official serving in government/semi government organization. multinational bodies having at least 3 vest of operation. UN organizations. autonomous body independent/salaried professional comprising accounting professionals. 10yrs<15 yrs.00% 14.50% 14.25% 30 M & above 14. marine engineer faculty members of renewed universities/school. local corporate (mid segment).75% 12.00% 13. 500+VAT 40 N/A N/A .25% 10 M<20 M 13. corporations.75% 20 M< 30 M 13. banks and financial institutions.00% 14.25% 13.00% 10 M<20 M 13. foreign NGOs & agencies. dentist.75% 13. 500 + N/A VAT Tk. Insurance claim N/A N/A settlement on behalf of VAT Customer 13.500 + .500 + VAT 41 Tk.2000 + N/A N/A Tk.50% or BDT 200.500 + Tk. Duplicate issue of N/A Tk.830 + transfer documents 10. Prepayment Charges 07.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 02.500 VAT VAT + VAT Tk. 03. Change of quotation of 0.500 + Tk. Issuance of Certified Tk. Documentation fee Processing fee 04.1000 + Tk. Photocopy of land N/A Tk.50% or BDT 0.At Actual 06.500 + VAT Tk. Duplicate tax certificate 11.000 whichever is whichever is whichever is lower + VAT lower + VAT lower + VAT Upto1% + VAT Upto1% + Upto 1% + VAT VAT BDT 1000 + N/A N/A N/A N/A Up to Up to N/A 2%+VAT 2%+VAT Up to Up to 2%+VAT 2%+VAT At actual At actual N/A car loan asset after N/A N/A VAT Approval 05. Change in agreement due to customer request Stamp Charge- Stamp At Actual Charge.1000 + N/A VAT VAT Tk.50% or BDT 0.000 200.000 200.1000 + VAT Documents 12. Reimbursment of Up to 2%+VAT Up to 2%+VAT At actual cheque management N/A At actual Charge 09. Foreclosure Fee 08. Duplicate tax certificate (current year) 19.500+VAT Tk.500+VAT Tk.300 Tk.1000 N/A N/A N/A b.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Mortgage Deed (City VAT VAT Tk.At Actual Actual Corp) 14. 42 .500 Tk.500+VAT N/A Tk. Charge of Mortgage Tk.500+VAT Tk.500 N/A Tk. Duplicate tax certificate (any pervious year) 27. Title deed Tk.500+VAT N/A N/A N/A Execution 31.300 Tk.300 Tk.500+VAT Tk. 28. Sanction letter Tk.500+VAT N/A b.500+VAT Tk. Mortgage Deed Tk. loan statement Tk. CIB inquiry charge(inclusive VAT) 16.500+VAT N/A Redemption of Stamp Charge- Stamp Stamp N/A Mortgage At Actual Charge.500 Tk. Copies of charge Tk.500+VAT Tk.500+VAT Tk.300 Tk.500 N/A N/A N/A c.500 N/A N/A N/A 30. Follow Up Charge against delinquent customers (inclusive VAT) 18.500+VAT N/A c. POA Tk.At Charge.1000+VAT N/A N/A N/A Home Loan Conversion 1% of the N/A N/A N/A Fee URPA +VAT a. Delivering of service BDT BDT BDT against facility closed 3000+VAT 3000+VAT 3000+VAT N/A before Five Years of More a.500+VAT Tk. Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” deed. etc. certified tittle deed. title deed. other ownership documents. ACTUAL TASK PART 43 . Assistant officer AbdullahAl-Mamun & Officer Irfan Bappy.Sharna Islam Khan. In Consumer Division (CD) my task was supervised by Officer Syed Atif Ahmed (Operation in Charge) . 44 . Liability operation is a part of consumer division.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” During my internship period I was assigned to Uttara Branch. Mainly I was assigned to work with liability operation. I am going to describe my working. I had opportunity to know various type of working environment. I have done some activities there. TLA (Triparty Loan Agreement). CIF no. RM BLA. all these file needs to find by myself. RM TLA or which kind of home loan it is or wither it is car loan or personal loan I check the file’s Term. it is BLA (Baiparty Loan Agreement). Then I need to open the security of the file and collect all the cheques and those in a envelop with the borrower some important information’s. disbursement amount. there is indexing. it is BLA (Baiparty Loan Agreement). Then I need to check the file itself. indexing and summarizing. I write down the name of the file type on the file. than I had to open another folder with a tracking number. every file passed to me for rechecking. because. I check the file’s Term. Than in excel sheet. TLA (Triparty Loan Agreement). sanctioned amount. If there is not available folder for the file.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Indexing After disbursement of a home loan file. I had to put the basic information of the file such as. In indexing. I cannot make mistake here. There is a list given in the box about what are the things I need to go through over a file. Disbursement date. all the file that I’m indexing and arranging. particulers & explanation 1 Things for check Counter part final receipt copy both for client and Need to be stapled with disbursement paper. account number. agreement date etc. There are more than thousand files. The most important part is. 45 . RM TLA or which kind of home loan it is or wither it is car loan or personal loan. RM BLA. (if not given then collect those document. co-applicants signature with date S.V.000m.000. and Applicant. also check the clients signature that correspondent with the real signature.(seen original) sign by RM 46 . for example. (if not given then collect those being paid in their first from them) installment/disbursement. but IDLC agreed on 5. (relation manager).Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” check the signature of client and RM IDLC. 3 Signature of Credit administrative Document Status (consumer division) officer and assistant Stapled with disbursement officer. their request for 7.000.000m which is called sectioned amount. 2 Signature of Credit administrative Disbursement paper this paper is the document of what (consumer division) officer and assistant is the loan amount the client is officer. from them) 4 Signature of Credit administrative Sanction letter (consumer division) officer and assistant The letter confirm and accept the officer. this amount could be disbursed to the client in several disbursement or a single disbursement based on the risk factor of the company. (if not given then collect those request for the loan of the client from them) with their own seals. it means the client received the disbursement amount. some time it could be 13 digit! O. (seen original) by RM An Android apps is been provide to us to check the TIN wither it is fake or not. then need a digital one too. (seen original) by RM Resume and other related and importatn documents 11 Home Loan Apllicatns Form Signature of the Head of uttara Branch with seal RM signature and seal 47 . and it is a very important document. 9 TIn number should be 12 Digit (if TIN Certificates digital) or 10 digit.(seen original) sign by RM 7 E-mail hard copy with Apllicants Staped with ledger Signature of credit Analysts 8 Ledger Signature of Cluster/HoCRM-CD Signature of credit Analysts All the most important informatons are summarized in the ledger bery shortly. Applicant and Co-applicant must have TIN certificates 10 O.S. if its 10.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 5 Terms & Condition papers Applicant.S. co-applicants signature with date Signature of Sales team head or 6 Check list manager S.V. Deed of mortgage S. Applicants. co-applicants and RM’s signature behind Applicant. RM and also (100tk deed paper) the Signature of Credit administrative (consumer division) officer. 48 . Co-applicant and guarantor must have NID or birth certificates. co-applicants. Applciants signature need to corospond with the NID. Personal Guarantors (PG) Applicant and RM’s signature behind PG’s photo. there will be signature of Applicants.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” Head of Sales departments signature and seals Applicant. Term and Conditions Applicant and co-applicants signature CFF (Clients FeedBack Form) Authorised and applicants signature Need to file up if its not filled up CAF (Clients Acknowledgement Authorised and applicants signature form) Need to file up if its not filled up Signatue maching need to match the signature of applicants. 12 NID (National ID Card) O. Security invelup 13 Agreement paper In every page.V Need to check this paper and also the property that mortgage. co- applicants photo. guarantors with the NID.S. co-applicants. A summary need to input into the excel sheet. Preparing files Cheque: I had to write all the deposit paper for the cheques Scan: Scanning important files. Conclusion IDLC Finance Limited is a one of the top leasing company in Bangladesh. With their strong corporate governance body. strategies are improved. Their core value. they are working very well. However.V. then needs to contact with respective persons with the missing things in the files :Deposit indexing every files. which is credit risk management department.V. Year 2013 and the year 2014 is become an exemplary to their growth. PG (Personal Guarantor Signature of RM Signature of gurantors and witness DP note or Deman note S. irrevocable power of attorny S.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” S. After reviewing the report.V. Their most strong department is their CRM.V. Stampes need to check S. you can see that the company is really growing very fast from 2 years. indexing loan file and deposit files are different with each other. After cheking all this. In 49 . sending to the head office. http://www. IDLC finance (2015). While working with IDLC Finance Limited.com/Home-Loan_home. supervised learning experience.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” every financial organization loans and advances are the most important assets as well as a primary source of earning. About the Home Loan. With the primary research. My internship helped me to develop essential skills and build the confidence by performing essential tasks in the organization.idlc. Car Loan [Online] February 18. I had a great exposure while working in a Nonbanking environment.idlc. I have developed good organizational and communication skills. It was a pleasure to work with a supervisor & others executive officers. they are now top in Bangladesh only in term of the disbursed amount of Home Loan in Bangladesh. Today’s global challenge is how to reduce the operating costs and how to increase the operating profit. Doing my internship provided me with the opportunity to gain hands on work experience that was not possible achieve in the classroom.php [Accessed: 1 March.php [Accessed: 1 March. Some issues we have find that need to improve. IDLC finance (2015). 2014. To keep the same position in this sector they need to be very positive with their clients and prospects. Home Loan [Online] February 18. 2015] 50 2014. we have got the perception of their clients.Available from: . Appendix Part Reference from websites: 1. This internship was an on-the-job learning experience which enhanced my chances for early career success. If anybody can effectively manage these things he can reduce the huge operating cost.com/Car-Loan. It provided me with a realistic work preview and offered practical. In every financial organizations deposit can be an independent source of input for their various financial products or services. 2015] 2.Available from: http://www. New York: McGraw – Hill. (7th edition).idlc. 4. 2015] 4. Randolph W. International Finance Corporation. 04-122. Car Loan [Online] February 18. 2015] Reference from books. PP. “Internship Paper on IDLC” Scribd. 2014 available from: http://www. [Accessed: 1 March. IDLC Finance Limited.assignmentpoint.Zikmand William. Westerfield. 2014 available from: http://www. . available from: from: 5. PP. http://www. annual reports and other 1. IDLC Finance Limited.Internship Report-“As a nonbanking finance company consumer loan services system of IDLC finance Ltd” 3.com/ Personal Loan [Accessed: 1 March. Annual Report (2012). New Delhi: Tata McGraw-Hill Publishing Company Limited. . “Business Research methods”. 2015] 6. John V Lesiker..html [Accessed: 25 February.. 04-122. Ohio. PP. IDLC finance (2015). .) Corporate Finance. Business communication. Annual Report (2013).com/business/internship-report-on-non-banking-financialactivities-and-performance-of-idlc-finance-limited. Annual Report (2014). 6. Retrieved June 14. Japan.scribd. PP. Retrieved June 1.org/annualreport [Accessed: 5 March.com/doc/114646709/IDLC [Accessed: 20 March. Jeffrey. (2003). 51 .Available (2004). PP. (Eds. SouthWestern Mason. 2004. 3. “Non-Banking financial activities and performance of IDLC finance Limited” Assignment Point.ifc. Ross. 26-31. 2015] 2. 158-163. Jeffe. th 5. (11 Edition). G. Annual Report www. 2015] 2014. Stephen A. 2003. . IDLC Finance Limited. 223-241. 04-122.
Report "Report on Consumer Loan Services System of IDLC"