Internship Report on Mutual Trust Bank Limited

Internship Semester: Autumn– 2023

SUBMITTED TO
AFNAN YUSUF
Lecturer
Department of Management
School of Business and entrepreneurship
Independent University, Bangladesh

SUBMITTED BY
AKASH BISWAS
ID: 2021311

Date of Submission:7th December, 2023

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TABLE OF CONTENT

Letter of Transmittal ...................................................................................................................................... 3

Acknowledgement......................................................................................................................................... 4
Executive Summary ....................................................................................................................................... 5
C h a p t e r 1 ................................................................................................................................................. 6
1. Introduction_______________________________________________________________ ............. 6
1.1 Vision, mission, objective ................................................................................................................ 6
1.2 Corporate Division/department ...................................................................................................... 7
1.3 Details of the product lines or services____________________________________________ ... 9
1. 4 Operations details____________________________________________________________ . 10
1.5 Philanthropic activities/ CSR ____________________________________________________ . 11
C h a p t e r 2 ............................................................................................................................................... 12
2.1 Job responsibilities___________________________________________________________ ....... 12
2.2 Functions of the department___________________________________________________ ....... 14
C h a p t e r 3 ............................................................................................................................................... 15
3.1 Bank Industry analysis_________________________________________________________ ...... 15
3.2 Competitors analysis __________________________________________________________ ..... 16
3.3 Theory Analysis:______________________________________________________________ ..... 17
3.4 Recommendation: ............................................................................................................................. 20
C h a p t e r 4 ............................................................................................................................................... 22
4.1 Discussion:_________________________________________________________________........ 22
4.2 Conclusion:________________________________________________________________ ......... 22
References ................................................................................................................................................... 24
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Letter of Transmittal

7th December, 2023

AFNAN YUSUF
Lecturer,
Independent University, Bangladesh

Subject: Submission of the Internship Report.

Dear Ma’am.

I am really delighted to provide you with this final internship report. Working on this project has
provided us with a better grasp of its history as well as the opportunity to analyze where it is
heading. I've made certain that you have all of the information you require to proceed. Being a part
of this report has been a fantastic learning and personal development opportunity for me.

That is why I am writing to request your careful assessment and meaningful input on my report. I
sincerely appreciate this chance and your faith in me.

Sincerely yours,

_________________

AKASH BISWAS
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Acknowledgement

The success of this Internship report is based on the contributions of many people, particularly
those who take the time to provide thoughtful guidance and recommendations for improving the
report. I'd want to start by thanking God, for providing me with the strength I needed to compose
this report. Due to the time-consuming nature of collecting and assembling data for a study on
MTB internship experience. I would also want to thank Afnan Yusuf, my internship supervisor, for
his generosity and constant encouragement during the preparation of this report. He not only
allowed me to produce this amazing report, but he also helped me understand more about the
subject but also offered me the chance to perform some serious analysis on it. I'd want to convey
my appreciation and respect to everyone who has participated to the creation of this project, from
Bank to survey respondents to my internship colleagues and friends.
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Executive Summary

A great opportunity is advertised to understudies through internships to investigate work parts and
obligations, interpreting hypothetical information into commonsense application as they work
towards completing their BBA program. The application of hypothetical standards in real-time is
empowered by down to earth engagement. A critical part in different perspectives of common
keeping money, including account administration, check handling, credits, progresses, as well as
inclusion in venture and remote trade exercises, is accepted by MTB, a state-owned commercial
bank in Bangladesh.

The discourse is presented by the report with accentuation on vision, mission, goals, divisions,
divisions, benefit particulars, operational complexities, and charitable activities. The work
obligations and departmental capacities are illustrated within the consequent segments,
describing firsthand encounters and perceptions. Issues and challenges are recognized within the
expository section, drawing insights from suitable HR speculations. Additionally, challenges within
the enrollment prepare of Grameen Bank are highlighted.

The goal of the report has been to include comprehensive data with respect to HR forms at the
bank. Realness and clarity all through its planning were guaranteed through a concerted exertion.
The company's foundation is enveloped within the beginning area, taken after by an composition
of the internship involvement. Hence, the recognized issues and findings are nitty gritty within the
third area.

The report is characterized by its expressive and instructive nature. The think about is concluded
and references are given within the last parcel. The upgrade of capabilities through database and
program improvement is endeavored by the company, in spite of the fact that certain operational
inadequacies were identified. Inside the organization, tall potential and productivity are apparent.
The potential to direct the company in tending to challenges and correcting lacks for ceaseless
change is held by this report.
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Chapter1

1. Introduction_______________________________________________________________
Mutual Trust Bank Limited stands as a distinguished private bank situated in Dhaka, Bangladesh,
with its inception dating back to 1999. It has consistently directed its efforts towards both the
established and emerging markets within Bangladesh. By capitalizing on its core strengths, the
bank has managed to establish a commendable market reputation and offer professional customer
service. This commitment extends to the community it serves, as the bank employs these
strategies to drive growth and enhance shareholder value.

The bank`s activities are overseen by a 13-member board of directors, which manages the affairs
of the bank's 1,200 employees. Mutual Trust Bank Limited's scope of operations encompasses a
wide array of commercial banking activities, including currency exchange and various financial
services.

Legally, Mutual Trust Bank Limited operates as a private sector scheduled bank, following its
incorporation under the Company Act of 1994. Obtaining a Certificate for Commencement of
Business and a license from Bangladesh Bank on the same day, Mutual Trust Bank commenced its
banking operations on October 24, 1999. The bank's operations are in accordance with its
Memorandum of Association and are licensed by Bangladesh Bank under the Banking Companies
Act 1991.

1.1 Vision, mission, objective______________________________________________________

Vision
Mutual Trust Bank's vision is expressed at the heart of the bank's philosophy. Our aspiration is for
MTB to become a model of success for banks in Bangladesh, representing the pinnacle of financial
institutions and achieving true global standards.
Mission
Our mission is to be recognized as the highest rated financial institution in the country. As a
dynamic and innovative entity, we are customer-focused, offering a diverse range of products and
services that drive our drive for excellence and exceptional economic value.
Core Values
Central to our ethos is a belief in harnessing the innate talents of our employees and valuing their
role as equal members of our valuable financial family. We foster a collaborative environment that
respects and values the diverse backgrounds, perspectives, skills and experiences that each
individual brings to our workplace, regardless of their position.
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1.2 Corporate Division/department__________________________________________________

Figure 1: Corporate Division/Department

An organizational chart or organizational breakdown structure (OBS) is a diagram that shows the
structure of an organization, the interactions among its parts, and the relative ranking for each
position or task within the structure. there. IT, Accounting and Operations The basic objective and
driving force behind the existence of an operations department is to maintain and ensure the
overall operations of the organization run smoothly.
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Accounts Department
The general accounting area of the accounting department includes all costs related to daily
operations and payroll. The unadjusted/equalized trial balance is kept in this area. The vouchers
are recorded and then posted to the account. And the investment accounting section deals with
any irregular investment issues.

International Department
The bank's international division is a leader in foreign trade. This department strives to create a
corresponding financial relationship with a world-famous bank and attract corporate customers to
enhance import and export activities. They also signed remittance agreements with world-
renowned companies to transfer Bangladeshi employees' remittances abroad.

Audit Department
This division is run by the head office, and its responsibilities include auditing and inspecting the
bank's operations.

Human Resources Department

This department is connected to the main office of the Bank. In addition to being responsible for
employee salaries, this department is also responsible for the recruitment and selection process
as well as training, posting and promotion procedures.

Financial Administration Department

This department is responsible for ensuring that the bank's books and accounts are always kept in
a secure environment.
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1.3 Details of the product lines or services____________________________________________

RETAIL BANKING CORPORATE BANKING

Savings Account Corporate Loans & Financing

Current Account Working Capital Solutions

Fixed Deposit Accounts
Cash Management Services
Personal Loans
Trade Finance & Letter of Credit
Credit Card & Debit Card
Corporate Internet Banking
Remittance Services

Bill Payments Foreign Exchange Services

SME BUSINESS ADVISORY SERVICES

Foreign Exchange Trading SME BANKING
SME Loans & Financing
Money Market Operations

Investment in Government Securities SME Trade Finance

Interest Rate Derivatives

SME Working Capital Solutions
Equity Capital Market Operations
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1. 4 Operations details____________________________________________________________

Figure 2: Operations Details

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1.5 Philanthropic activities/ CSR ____________________________________________________

Corporate Social Responsibility (CSR) is what Mutual Trust Bank Ltd. Perform consider the
responsibility of banks because of how their actions affect people's lives, society and the
environment. To fulfill this responsibility, Mutual Trust Bank Ltd integrates health, education,
sports, environmental and other ethical concerns into its daily activities and relationships.

Education Program:

Ensuring the country's sustainable development requires prioritizing educational prosperity. MTB
Limited recognizes this importance and made a significant contribution of BDT 25 Lac to the Prime
Minister's Education Support Fund in 2017, demonstrating its commitment to support the
education sector.

Disaster Management:

MTB donated BDT 50.00 Lac to “Prime Minister's Relief Fund” to help flood victims this year. The
Bank donated around BDT 55.00 Lac to the flood victims in Northeast Bangladesh by providing
emergency goods and clothes.

Environment:

MTB is committed to protecting the environment and promoting sustainable practices. The
company has implemented a number of initiatives to reduce its environmental impact, including
reducing water consumption, increasing energy efficiency and promoting the use of renewable
energy sources.

MTB Foundation:

MTB Foundation is a non-profit organization established by MTB to support various social activities
in rural areas. The foundation focuses on areas such as education, healthcare and women's
empowerment. These are just a few examples of the charitable activities and CSR initiatives
undertaken by the bank. The bank is committed to benefiting the communities it serves and
creating a positive impact in the region.
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Chapter2

2.1 Job responsibilities___________________________________________________________

During my internship at MTB, I was responsible for supporting the office coordinator under the
direction of my supervisor. During the first month of my internship journey, my main task was to
immerse myself in the initiatives taking place in the field. This involves diving into concept notes,
strategy documents, and engaging in discussions with other members of my team. This
comprehensive approach enabled me to gain a holistic understanding of the sector's operations
within MTB.

➢ Provide excellent customer service, addressing inquiries and resolving issues:

It involves promptly and courteously addressing customers' queries and problems,
responding to them politely and quickly. To provide correct information and answers, one
must have a deep grasp of the products or services in question. It's crucial to respond
promptly, communicate clearly, and have a positive outlook. Resolving difficulties swiftly
and going the additional mile to surpass client expectations contribute to a memorable
customer experience.

➢ Assist in opening and closing accounts, updating customer information: This

entails providing accurate and efficient consumer guidance during the procedure. This
include confirming pertinent data, outlining account specifics, and making sure all essential
paperwork is finished. Maintaining data security and precisely documenting any updates
to client information need meticulous attention to detail.

➢ Handle cash transactions, including deposits, withdrawals, and currency

exchange: Effectively managing a variety of financial operations, including deposits,
withdrawals, and currency conversions, is necessary when handling cash transactions. This
entails counting money precisely, confirming client information, and making sure security
and legal requirements are followed. During these transactions, it is imperative to deliver
exceptional customer service by swiftly answering any questions or complaints

➢ Verify various documents related to account openings: Verifying account opening

documentation involves carefully going over customer-provided documentation to make
sure it complies with internal and external regulations. This entails verifying the legitimacy
of identity documents, proof of address, and any other required paperwork.
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➢ Enter customer information and transaction details accurately into the

system: This includes inputting personal details provided by the customer, such as contact
information and identification data, and recording transaction specifics like deposits or
withdrawals.

➢ Support senior staff in day-to-day banking operations and tasks: This includes
helping with different assignments to guarantee the smooth functioning of the financial
institution. This incorporates giving authoritative back, dealing with client request, and
collaborating with group individuals to achieve operational objectives.

➢ Ensure compliance with banking regulations and policies: It includes reliably

following to lawful rules and inner conventions to preserve the judgment and lawfulness
of money related operations. This includes staying upgraded on important laws, controls,
and industry guidelines.

➢ Collaborate with colleagues to achieve shared goals and deliver exceptional

services: Collaborating with colleagues to attain shared objectives includes working
together effectively and harmoniously to provide uncommon administrations. This
incorporates open communication, common bolster, and leveraging person qualities to
contribute to collective goals. Cooperation cultivates advancement, problem-solving, and
a positive work environment, eventually improving the generally quality of administrations
given.
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2.2 Functions of the department___________________________________________________

The General Department of Banking undertakes basic banking operations and manages daily
transactions in banking operations. Every day, it accepts customer deposits and fulfills their
liquidity requests. It is also responsible for opening new accounts, issuing payment orders and
assisting in the collection of various invoices, including clearing local checks for customers.
Considering the need for consistent provision of these services, the general banking department
is often referred to as retail banking. This division primarily serves the needs of individual
consumers by managing a wide range of products and services.

Accounts Department: Cash Department:

The central activity of this department is to As an integral part of the General Authority of
prepare financial reports according to standardized Banks, the Ministry of Finance manages cash
reporting formats, in accordance with government inflows from savings and current accounts, as well
policies and guidelines. Additionally, this as cash outflows, whether in the form of
department plays a central role in making withdrawals or withdrawals. Transfer funds to the
decisions regarding employee salaries and specified account. It is important to note that only
bonuses. government documents will be processed for
receipt or transfer to government accounts.

Operational Department: Clearing Department:

This department is responsible for continuously Among the intricate sections of the bank, the
monitoring the overall operations of the bank, Clearing Department takes center stage. Here,
making key decisions and supervising various cheques from both internal and external banks are
construction-related activities within MTB. received, and payments are processed for credit to
Comprised of senior executives, this department MTB customer accounts. When cheques are
plays an essential role in the strategic direction of submitted to the clearing section, accompanied by
the bank. an account holder's account details, they are
dispatched to the clearing house at the Bangladesh
Bank for processing. This centralized clearance
mechanism involves the presentation of cheques
from multiple banks, ensuring the smooth
exchange of funds.
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Chapter3

3.1 Bank Industry analysis_________________________________________________________

The banking sector in Bangladesh has changed a lot in the last few years and it has contributed a
lot to the growth of the country. Banks are multi-disciplinary teams and there are many different
kinds of banks in Bangladesh.

Currently, there are 61 banks operating in

Bangladesh. These banks can be classified as
commercial, specialized, Islamic, or foreign.
Each bank has its own unique role. Some of the
well-known banks in Bangladesh include
Bangladesh Bank, a state-owned bank, and
other private banks such as Islamic Bank Ltd.,
Agrani Bank, and Pubali Bank. The banking
sector in Bangladesh has faced challenges in
recent years. Some of these challenges include
non-repayment of loans, lack of skilled personnel, and the entry of foreign banks. However, the
banks are not letting these challenges hold them back. Instead, they are innovating and using
cutting-edge technology to improve their services and make life easier for their customers. They
act as a referee, ensuring that all banks play by the rules and that the country's monetary resources
remain stable and secure.

The banks in Bangladesh play a vital role in the development of the country. They provide financial
services to people and businesses. As the country progresses and becomes more developed, the
banks will continue to evolve. They are prepared to face new challenges and seize new
opportunities.

Strengths of the Bangladesh Banking Industry:

➢ Stable Economic Growth: Bangladesh's economy has been growing steadily for many years,
and this has had a positive effect on the banking sector. As the economy continues to grow,
so does the need for banking services, such as loans, investments, and facilitating trade.

➢ Expanding Branch Network: Banks in Bangladesh are expanding their branch network,
especially in rural areas, to reach out to the unbanked. This initiative promotes financial
inclusion and supports economic development in remote areas.
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Challenges Faced by the Bangladesh Banking Industry:

Non-Performing Loans (NPLs):

The banking industry is struggling with significant levels of non-performing loans.
The prevalence of NPLs affects banks' profits and capital safety, which can lead to risks for the
entire industry.

Liquidity Management
Liquidity management is a challenge for some banks, especially during periods of economic
volatility. Ensuring enough liquidity to meet customer needs while maintaining stability is a
constant balancing act.

Cybersecurity Risks
With the increasing adoption of digital banking and online transactions, cybersecurity has become
a major concern for banks. Cyberattacks and data breaches can undermine customer trust and
disrupt banking operations.

Financial Inclusion
A significant portion of the population remains unbanked or underbanked in Bangladesh.
Expanding financial inclusion through mobile banking, agent banking and other initiatives can
create new markets for the banking sector.

3.2 Competitors analysis __________________________________________________________

MTB operates in a highly competitive banking sector in Bangladesh, with many other domestic and
foreign banks offering similar financial products and services. Some of MTB key competitors in the
market include:

BRAC Bank Limited:

BRAC Bank is one of the leading commercial banks in Bangladesh, offering a wide range of banking
products and services to its customers. The bank has a strong presence in the SME and retail
banking segments and has expanded its digital banking services in recent years.
Eastern Bank Limited:
Eastern Bank is both one of the largest and oldest private financial institutions in the country. It
offers a full range of financial products and services to its customers. The bank places a strong
emphasis on corporate and investment banking, and in recent years has worked to expand its
service offering in the digital banking sector.

Islami Bank Bangladesh Limited:

Islami Bank is the largest Islamic oriented financial institution in Bangladesh. Sharia law guides its
operations. It targets consumers as well as commercial customers by offering a full range of choices
 P a g e | 17

in goods and services. The bank has a strong presence in the agriculture and small and medium
enterprise (SME) sectors and has expanded its digital banking services in recent years.
Dutch-Bangla Bank Limited:
Dutch-Bangla Bank is one of the largest private banks in Bangladesh. This is a joint venture between
Bangladeshi and Dutch investors. The bank has put a lot of effort into Internet banking and in
recent years has added more branches and ATMs.

BRAC BANK LIMITED EASTERN BANK

❖ Top Management ❖ Well known for private bank

❖ Variety of Services ❖ Prioritizes corporate & investment
❖ Well known for retail & SME banking. banking.

ISLAMI BANK LIMITED DUTCH BANGLA BANK LIMITED

❖ Prominent Bank ❖ Large Organizations

❖ Has share in SME sectors ❖ Foreign Investors
❖ Digital Banking ❖ Huge numbers of branches.

3.3 Theory Analysis:______________________________________________________________

Locke's goal-setting theory, developed by psychologist Edwin A. Locke, is a widely accepted theory
that emphasizes the importance of setting clear, specific, and challenging goals to improve
motivation and performance. This is a theory of motivation. This theory states that people are
more motivated when they work toward clearly defined goals, and that achieving these goals gives
them a sense of accomplishment and
satisfaction.

The motivation problem of MTB workers can be

solved by Locke's goal setting theory. According
to this belief, creating clear, defined goals
increases employee enthusiasm and
performance. Locke's theory can help MTB
employees who are demotivated by inconsistent
performance metrics and subjective judgments.

By setting clear performance goals, banks can

provide direction and goal setting for employees.
Instead of a general standard such as "meets
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expectations," banks can set role-specific benchmarks. That way, your employees will feel a sense
of accomplishment when they reach their goals.

By making these goals difficult but achievable, you can increase employee motivation and
satisfaction. Once your employees achieve a certain success rate, setting slightly higher goals can
help motivate them without overwhelming them. Motivation and commitment increase when
employees participate in goal setting. When employees help set goals, they're more likely to take
responsibility and actively pursue them. This interactive method ensures that employees
understand the criteria and reduces any sense of unfairness or subjectivity in the evaluation
process.

Locke's theory requires regular feedback and support. MTB managers can provide employees with
feedback on progress, suggest improvements, and measure success. This continuous
communication keeps people motivated and enables change.

MTB can use Locke's goal setting theory to increase employee motivation. Clear and challenging
goals, employee engagement, and frequent feedback can improve morale, performance, and job
satisfaction, solving your bank's motivation problems.

Step 1: Establish Clear and Specific Goals:

Management must work with employees to set clear, specific, and measurable performance goals.
For example, instead of using vague criteria like “meets expectations,” banks can set specific goals
for each employee, such as increasing the number of successful customer transactions by 15%.

The Mutual Trust Bank (MTB) administration group meets with each customer benefit officer to
form clear and point by point execution objectives. Rather than "assembly desires," they set
particular targets for each representative. A client benefit operator, must boost client exchanges
by 15%. The bank indicates client satisfaction-boosting exchanges. As example, Tania handles loans
inquiries. The bank requires her to handle 15% more advance demands than the past quarter.
Tania's supervisor exhorts her all through the quarter. They talk about her advance, offer back, and
recognize her endeavors towards the objective. Tania's inspiration and clarity offer assistance her
center on making a difference shopper with loans questions.

That Customer Service Officer accomplishes her objective of 15% more advance enquiries by
quarter's conclusion. The bank recognizes her devotion to client fulfillment by assessing her
execution against this clearly expressed point. Common Believe Bank sets execution objectives for
each worker based on their work and duties. MTB's execution administration strategy is more
viable and more pleasant since this methodology persuades, rouses, and clarifies individuals.
 P a g e | 19

Step 2: Make Goals Challenging:

Goals must be ambitious enough to motivate employees to go the extra mile, but must also be
achievable. For example, if an employee consistently achieves an 85% success rate in customer
transactions, setting a goal of 100% may not be realistic. Instead, aiming to improve the pass rate
to 90% will be challenging but still achievable.

An enthusiastic ATV cashier has an 85% customer success rate. This historic employee success
helps the leadership team set difficult but achievable goals. The bank decided to aim for a 90%
success rate for employees next quarter instead of 100%, which may have been impossible due
to system errors or complex customer requests.
The bank trained her in complex transactions and problem solving to help her achieve this goal.
He receives supervision and support from a senior cashier advisor. He actively uses the new
abilities acquired during training and consults his mentor in difficult situations. He stays motivated
by receiving regular feedback from his supervisor.

This employee achieved his quarterly goal with a 90% customer transaction success rate. The bank
recognized his hard work and success. Mountain biking keeps her motivated and engaged by
setting a difficult but achievable goal. He strives to improve while remaining realistic about his
abilities and other influences that could change his odds of success.

MTB's goal planning allows employees to improve and contribute to the bank's success without
feeling overwhelmed by unrealistic expectations. The challenge and achievability of empowerment
and confidence benefits banks and customers.

Step 3: Commitment:

Including employees within the goal-setting prepare may be a capable way to cultivate
commitment and inspiration at Mutual Trust Bank (MTB). When representatives have a say in
characterizing their claim destinations, a few benefits emerge. Employees feel a more prominent
sense of ownership over the objectives they offer assistance make. They ended up by and by
contributed within the results and are more committed to accomplishing them since they had a
hand in forming them. Being portion of the goal-setting handle locks in employees more effectively
in their work. They feel esteemed and recognized for their suppositions and commitments, driving
to higher levels of engagement.

Step 4: Provide Feedback and Support:

Regular feedback and support is essential to achieving goals. Managers should provide ongoing
feedback to employees on their progress, identify areas for improvement, and recognize
achievements. This way, employees stay motivated and can take corrective action if necessary.
 P a g e | 20

Sharmin, young, enthusiastic MTB loan officer. She meets with her manager to set performance
goals. She wants to be granted 20% more loans than last year. During a meeting, the manager
noticed that her approval rating had dropped slightly over the past two months. The boss offered
constructive criticism and offered training on how to evaluate loans instead of putting her down.
She attended training and used the new loan review processes with the support of her manager.
His approval ratings are rising again and he's regaining momentum toward his 20% goal. During a
team meeting, her manager praised her hard work and desire to improve.

MTB's commitment to constructive criticism and support has created a great working atmosphere
in which people feel appreciated and encouraged to achieve their goals. Communicate regularly
from managers and help drive employee and bank development and improvement.

Step 5: Task complexity:

Performance goals should not be fixed. They need to be reviewed periodically to ensure they
remain relevant and attractive. If circumstances change or new challenges arise, goals may need
to be adjusted accordingly. At Mutual Trust Bank (MTB), the management team regularly reviews
the performance targets set for each department.

When they notice a shift in customer preferences toward online banking, they will adjust their
goals to focus more on increasing the number of online transactions, ensuring that goals remain
relevant. and ambitious to respond to changing circumstances. This adaptability keeps employees
motivated and aligned with the bank's changing priorities.

Periodically reviewed targets allow MTB to be flexible and respond quickly to market changes,
thereby helping the bank overcome difficult times and make strategic adjustments to achieve
success. With updated goals, MTB strives to maintain a strong customer base and stay competitive
in the ever-changing financial landscape.

3.4 Recommendation:____________________________________________________________
From the practices mentioned in the previous paragraphs, it is clear that

• Mutual Trust Bank (MTB) has adopted a complete and successful method of goal setting
and performance management.
• Commitment to clear and specific goals, challenges and feasibility.
• Adjusting task complexity involving employees in goal setting.
• Regular feedback and support
• Motivated and engaged workforce.
 P a g e | 21

To further enhance their goal-setting process, I recommend that MTB consider the following:

Employee Development Plans:

In addition to performance goals, MTB also allows you to integrate personalized development
plans for your employees. This involves identifying the skills and competencies that employees
want to develop and aligning them with the bank's goals. By supporting employee professional
development, banks can develop a more holistic approach to achieving their goals.

Recognition and Rewards:

Feedback is important, but establishing a formal recognition and reward system can improve
motivation. Recognizing and rewarding employees who consistently meet or exceed goals can
reinforce a culture of high performance and engagement.

Regular Check-ins:

In addition to regular reviews, introducing more frequent check-ins between employees and
managers will ensure that goals remain relevant and challenging in real time. This also gives
employees the opportunity to voice concerns, seek advice, and make necessary adjustments in a
timely manner.

Training Opportunities:

Encourage employees to participate in relevant training and workshops that align with their
performance goals. This investment in skill development enables employees to efficiently achieve
their goals.
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Chapter4

4.1 Discussion:_________________________________________________________________
Locke's goal setting theory helps keep MTB employees motivated. This approach emphasizes the
need to set clear goals to improve employee motivation and performance. MTB suffers from
unequal performance evaluations and subjective judgments, but Locke's theory provides a
methodological strategy to revitalize motivation.

Banks can provide direction and purpose to their employees by setting performance goals. Instead
of “meeting expectations” you can set role-specific standards. This change gives employees a sense
of accomplishment as they can measure their progress against clear goals.

Challenging these goals while ensuring they are achievable can increase employee motivation and
satisfaction. This technique recognizes employees' past successes and encourages incremental
progress without overwhelming them.

Employees can make a difference by participating in goal setting. Encouraging employees to set
goals fosters ownership and commitment. This collaborative approach solves issues of fairness and
subjectivity and allows employees to connect their personal goals with the goals of the bank.

Locke's theory emphasizes regular feedback and support. This ensures that employees receive
ongoing support, are recognized for their progress, and are rewarded for their successes. Regular
communication increases motivation and allows for improvement.

MTB can increase employee motivation by adopting Locke's goal setting theory. Clear and
challenging goals, active employee participation, and constructive feedback can improve morale,
performance, and job satisfaction, and solve motivation problems.

4.2 Conclusion:________________________________________________________________
Mutual Trust Bank (MTB) really knows how to achieve your goals. They have a clever way of getting
things done that includes clear goals, makes things difficult but doable, and ensures that tasks are
commensurate with people's abilities. Additionally, by involving all employees and providing
continuous feedback, everyone is inspired and motivated. This approach is like a great recipe for a
highly motivated and engaged team.

During my internship at MTB, I got to see this recipe in action. I met directly with my managers and
observed how they set goals and managed performance. It was enlightening and motivating at the
same time.
 P a g e | 23

I was also able to sit in on meetings where goals were discussed and learned a lot about how to
connect everyone's work to the goals the bank wants to achieve. And you know what? It actually
works! People became better and more motivated because they received important feedback and
support. We also got to explore different areas of the bank and see how the goals are set there. It
was great to see everyone working together even though they were on different teams. They all
seem to have the same goal in mind, is what makes banks great. Seeing everyone trying to do a
better job and satisfy customers made me realize how powerful this goal is.

My time at MTB not only taught me about goals, but also gave me an insight into how banks work
from the inside. As I begin my career, I'm excited to be able to use all these great things I learned
in MTB to help other companies succeed. I can't thank her MTB enough for allowing me to be part
of their team and learn from the best.
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Mutual trust bank. (2023, August 20). Retrieved from Mutual trust bank: www.mutualtrustbank.com

Locke. (2005). Building a practically useful theory of goal setting and task motivation. Journal of Applied
Psychology,, 1-17.

Journal, W. S. (n.d.). MTB.BD | Mutual Trust Bank Ltd. Financial Statements - WSJ.

About us - Mutual Trust Bank Limited. (2021, October 12). Mutual Trust Bank Limited.

Corporate Social Responsibility - Mutual Trust Bank Limited. (2021, January 10). Mutual

Hossain, I. (2016). General Banking system: A study on Mutual Trust Bank Limited.

Products and Services - Mutual Trust Bank Limited. (2020, September 17). Mutual Trust

Mission & Vision - Mutual Trust Bank Limited. (2020, September 16). Mutual Trust

bangladeshi banker. (2023, August Sunday). Retrieved from bangladeshi banker:

https://www.bangladeshibanker.com/2020/02/top-banking-apps-in-bangladesh.html
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Figure 3: Cash Department/Desk (MTB Bashundhara Branch)

Figure 4: Working with interns in meeting room

Figure 5: Working in Front Desk

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