Practices of Compensation Management System of UCB Bank Ltd.
Introductory background: Compensation is the remuneration received by an employee in return for his/her contribution to the organization. It is an organized practice that involves balancing the workemployee relation by providing monetary and non-monetary benefits to employees Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness. The subject matter of the Term paper is practices of Compensation management system of the UCB bank ltd.
1.1 Statement of the Research problem: Compensation management is an important element of HRM. The success of an organization depends on effective compensation management. The subject matter of the Term paper is practices of Compensation management system of the UCB bank ltd. In this Term paper I tried to represent the major issues that are related to practices of compensation management system of UCB bank ltd.
1.2 Scope and Objectives of the study:
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Scope: Theoretical Background of Compensation management.
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Compensation management practices of UCB bank organization.
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Problem of Compensation management
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How to solve this problem.
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Objectives :
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The objective of the study id to analyze the compensation management practices of UCB bank ltd.
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To gather practical knowledge about the compensation management.
Chapter-2: Discussion (Theoretical background of compensation management) 2.1 Definition of Compensation Management: Compensation is the remuneration received by an employee in return for his/her contribution to the organization. It is an organized practice that involves balancing the work-employee relation
by
providing
monetary
and
non-monetary
benefits
to
employees.
Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness. Compensation is a systematic approach to providing- Monetary rewards [Extrinsic rewards] Direct ( Salary , bonuses , Incentive ) , Indirect ( social security , pensions , insurance, training , sick days , vacations , holiday , rest periods , Legal advice , Elder care ) & Nonmonetary rewards [Intrinsic rewards] ( Job security , Status symbol , Social Rewards ) to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction compensation management, also known as wage and salary administration, remuneration management, or reward management, is concerned with designing and implementing total compensation package.
2.2 Necessities of Compensation Management: •
A good compensation package is important to motivate the employees to increase the organizational productivity.
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Unless compensation is provided no one will come and work for the organization. Thus, compensation helps in running an organization effectively and accomplishing its goals.
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Salary is just a part of the compensation system, the employees have other psychological and self-actualization needs to fulfill. Thus, compensation serves the purpose.
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The most competitive compensation will help the organization to attract and sustain the best talent. The compensation package should be as per industry standards.
Motivatio n
Compensation Package
Employee Retention
Need satisfaction
2.3 Responsible persons to conduct Compensation Management: Compensation managers are responsible for researching, establishing, and maintaining a company's pay system. In performing this significant function, the compensation manager has to research and understand the current and upcoming competitive markets for employee pay and benefits. They must find ways to ensure that pay rates are fair and equitable to retain and recruit employees. The compensation manager may specialize, in larger organizations, in specific areas such as job classification or market pay studies. At a government or civil service employer, the manager establishes the pay grades that govern employees' level and amount of pay. A compensation manager, in a larger organization, is often assisted by staff specialists. They may conduct salary surveys to see how their pay rates compare with those of other
companies. They may also work with established online sites that specialize in compensation to do market comparisons of pay by region, number of employees, and job responsibilities. It is the compensation manager's job to see that the company's pay scale complies with ever changing state and Federal laws and regulations. In addition, depending on the needs of the organization, compensation managers may oversee their company's performance evaluation system. They may also handle employee benefits. Employee reward systems such as bonuses, merit raises, and pay-for-performance plans may also fall within their responsibility.
2.4 Process of Compensation Management: 1. Define the internal value of jobs and positions. One can enter data from external job evaluation systems and salary surveys. 2. Define compensation components and group them 3. Define guidelines and eligibility rules and associate them to the plans 4. Perform budgeting for compensation management 5. Plan and administer compensation policies 6. Approve compensation adjustments 7. Administer approved compensation
2.5 Steps of effective Compensation Management:
1. Job analysis: Job analysis is done for identifying the skills and experience required to perform the work clarifies hiring and promotion standards and identifies training needs. A Good activities, constraint on action, performance criteria, critical incidents, demand, working conditions. Data collected related to employee. Like professional Knowledge, manual skills, verbal skills, written skills, quantitative skills, mechanical skills, conceptual skills, managerial skills, leadership skills, international skills, and employee international Relationship with boss and Other superiors, peers& subordinates and employee external Relationship with suppliers, customers, Regulatory professional industry, community, union, employee group. 2. Job description: The information collected should be organized and summarized and documented. That summary of the Jobs is the Job description. The Job description provides a word picture of the job . 3. Job evaluation: Job evaluation is the process of systematically determined the relative wroth of Jobs to create a job structure for the Organization. They are different methods to evaluate the job. They are ranking, paired Comparison, Print method. 4. Job structure: The final result of the Job analysis, Job description Job evaluation process is a structure. 5. Pay structure: In designing pay structure it includes steps like specify the employer's competitive pay policy, define the purpose of the survey ,select relevant market competitors, design the survey, interpret survey results and construct the market line, construct a pay policy line that reflects external pay policy and balance competitiveness with internal alignment through the use of ranges flat rates. Pay structure Undertake training. Increase
experience. Facilitate career progression. Facilitate performance. Reduce pay - related grievance. Reduce pay - related work stoppage. 6. Compensation: Is the remuneration received by an employee in return for his/her contribution to the organization. It is an organized practice that involves balancing the workemployee relation by providing monetary and non-monetary benefits to employees
2.6 Methods of Compensation Management: Compensation management needs some methods. These are given below: 1. Time rate method 2. Piece rate method 3. Increase piece rate method 4. Measured day work method 5. Time saving method 6. Emerson’s efficiency bonus plan 7. Group plan 8. Halsey plan 9. Rowan plan 10. Beaux plan 11. Differential piece rate system 12. Gantt’s task plan 13. Multiple piece rate system 14. Scanlon plan 15. Share of production plan 16. Profit sharing plan 17. Employee stock ownership plans (ESOP) 18. Modern income security plans
19. Suggestions system 20. Sliding plan In Bangladesh organizations both public and private, many of these methods may be used for payments of wages to the employees and managers.
2.7 Errors or problems of Compensation Management: •
Forms of Pay:
Employee pay begins with a cash base and bonus pay, but may also contain non-cash forms of compensation. The valuation of non-cash compensation is often most difficult for employees to appreciate, but it offers the most opportunity for creativity on the part of the organization. •
Pay Philosophy:
"All organizations pay according to some underlying philosophy about jobs and the people who do them", says KP Kanchanalak, a professor at CFAI National College in Bhopal, India. Compensation programs must consider and value the work of those who provide internal support to the organization as well as those who directly impact financial results. An organization's compensation strategy will dictate the rate and timing of pay increases, which jobs are eligible for bonuses, and the level of competitiveness with similar organizations. •
Employee Incentive:
Pay-for-performance has become increasingly popular. Companies use compensation to reward and boost the morale of high-performing employees, but also to motivate underachievers.
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Presentation of Compensation:
How a manager speaks regarding pay can inadvertently create ill will when the intention was to deliver good news. It is important to use specifics when speaking with employees rather than categorize any pay increase as "good", "significant" or some other qualifier. Employee perceptions of compensation are based on individual values, needs and expectations.
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Pay Competitiveness:
Businesses wishing to compete for the best of the available talent pool must offer a competitive compensation p rogram compared to other companies within their industry and at large.
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Automation and Outsourcing:
Automating compensation, including outsourcing some compensation functions, enables businesses to standardize its system throughout the organization, eliminate paperwork and help departments to communicate more effectively. It minimizes payroll errors and makes it easier to compensate performance based on quantifiable measures. Organizations may also use technology to benchmark jobs and survey employees. •
Generational Differences:
People are living longer, and thus, working longer. In a look at physician compensation, Max Reboot of The Coker Group noted a difference in work ethic and expected compensation that fell along generational lines. Older workers were more likely to work longer hours in exchange for their pay while younger workers expected high levels of pay even when their productivity was aided by technology.
2.8Factors affecting Compensation Management: From the perspective of the employer, the factors that affect compensation are-
1.The Overall Macroeconomic situation where in the state of the economy of the country in which the firm is situated plays a major role in determining the compensation to be paid. For instance, if an economy is booming or is in a high growth trajectory, chances are that the employers would pay the employees more and conversely, if the economy is in a downward trajectory, chances are that the employers would pay the employees less. We often hear about how because of the recession, salary hikes have been deferred or cut down. This is a direct result of the linkage between firm performance and the performance of the economy
2.The Demand for a particular skill weights heavily on the way in which the employer fixes the compensation for the employee. For instance, premium skills like Consulting and
Accountancy are paid more as are the Technology Professionals who might be experts in their chosen field.
3.The Position of the company in the Business Cycle often determines how much the company is willing to offer to the employee. For instance, if a company is a start-up, chances are that the company would pay more because of the need to get the best possible talent into the company. Further, many start-ups give their employees ESOP’s or Employee Stock Option Plans wherein the employees can redeem their stocks after the lock-in period. Finally, the urgency of the firm in filling up the position plays an important role in determining how much the employer is willing to pay the employee and in many cases, if the time to get on board the employee is less, staffing managers along with the line manager in charge of hiring the employee might decide to pay more because they want the employee to come on board as quickly as possible. These are some of the factors that determine the compensation to be paid to the employee from the perspective of the employer.
Employee: Numerous employees related factors also influence his or her compensation. These include the following: •
Performance- It is always rewarded with pay increase and as a result it motivates the workers to do better in future.
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Experience- This makes a person perfect by providing valuable insights and thus rewarded also. Today companies are demanding for 10 to 20 years experience candidates especially for the executive positions. The companies presume that experience candidate posses leadership skills which influence the other behavior and performance. Generally experience candidate perform the job without need of training which is time consuming and deals with matter of cost to company. Hence the experience candidates demand more pay than an inexperienced candidate.
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Seniority- In today's environment seniority of employee making difference in payment of compensation compared to Jar employees. Naturally senior employees demands for more salary than fresher because of their.
On the basis of Environment the factors influencing compensation management are broken into two categories: Internal and External.
Externa l factors
Internal factors
1. Community culture
1.Corporate philosophy
2. Competition
2.Corporate mission
3. Economics
3.Bsusiness Strategy
4. Industry characteristics
4.Human resource
5. Labor market
5.Philosopy and strategy
6. Legal/regulatory
6.Total reward philosophy
7. Technology 8. Globalization
and strategy 7. Corporate Culture 8. Shareholder
Expectations 9. Corporate Structure 2.9 Essential elements of Compensation Management: Wages: One key element of a compensation plan is employee classification and wages. Hourly wages are listed for non-exempt employees and salaries are listed for exempt employees. Under the Fair Labor Standards Act, employees classified as non-exempt are entitled to overtime at one and a half times their hourly rates, if they work over 40 hours in one work week. Exempt employees are excluded from this rule. Employers do not have to track their hours or pay them overtime, no matter how many hours they work. Health Insurance: Compensation plans also contain detailed information about medical, dental and vision benefits. There are usually several different plans offered for each benefit, varying in price and coverage. Differences lie in deductible amounts, percent coverage and network providers. Higher-priced plans usually have lower deductibles, higher coverage and a wider variety of
providers. The compensation plan also includes rates for insuring spouses and dependents. The cost of health insurance is deducted on a pre-tax basis from the employee's paycheck. Paid Time Off: Both non-exempt and exempt employees qualify for paid time off. Paid time off includes vacation and sick days, holidays and personal days. The compensation plan lists how many vacation and sick days the employee is entitled to and at what point the employee earns more. Most firms base the amount of vacation and sick time on years of service. For example, an employee with 5 years of service receives 3 weeks of vacation, whereas an employee with 1 year of service receives 2 weeks of vacation. The plan will state which days are designated holidays and how many personal days (also called personal choice holidays) the employee. Other Aspects: Today it is common for many companies to offer tuition reimbursement, profit sharing, employee stock purchase plans and retirement plans as part of the compensation plan. Tuition reimbursement is usually contingent on the employee completing a management-approved course at a higher education institution and earning an acceptable grade. Profit sharing is based upon a percentage of the employee's salary and her years of service. Employee stock purchase plans are an often overlooked, but valuable, form of compensation. They allow employees to purchase shares of stock at a discount. Retirement plans allow the employee to contribute a percentage of his earnings into an investment account and receive a company
Chapter-3: Data Base Chapter-3: Data
Base bBaBase 3.1 Sources of Data: The study is based on the both primary and secondary data. Secondary data and information were collected basically from the internet browsing, the annual report of UCB bank ltd and various book. Primary data were collected through survey with the help of questionnaire.
3.2 Questionnaire that is uses to collect information: 1. Please mention the name of your organization in full. 2. What types of work done by your organization? 3. Please mention the name of the department that looks after the HRM functions? 4. What is the total number of employees in your organization? 5. Does your organization conduct compensation management?
6. If yes, who conduct compensation management? 7. What are the principles of compensation management in your organization? 8. What types of compensation you get? 9. Please mention the name of compensation management methods which are used in your organization? 10. What purpose does the results of compensation management service? 11. Are you facing any difficulty in conducting compensation management in your organization?
3.3 Steps of preparing the term paper: To prepare the term paper the following flow chart at data base is followedIndentifying data and information. ↓ Collection, analysis, interpretation, presentation of data and information. ↓ Draft submission. ↓ Final report preparation and submission.
3.4 Limitations of the study: •
My limited knowledge and inexperience is a limiting factor in this report.
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The study require extensive data or information about compensation management practices . But information was not available in the desired form.
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Due to time constraint , I could not make the report a more detailed on.
Chapter-4: Findings and Analysis of Study 4.1 Overview of UCB Bank Ltd. Sponsored by some dynamic and reputed entrepreneurs and eminent industrialists of the country and also participated by the Government, UCBL started its operation in mid 1983 and has since been able to establish one of the largest networks of 125 branches among the first generation banks in the private sector. With its firm commitment to the economic development of the country, the Bank has already made a distinct mark in the realm of Private Sector Banking through personalized service, innovative practices, dynamic approach and efficient Management. The Bank, aiming to play a leading role in the economic activities of the country, is firmly engaged in the development of trade, commerce and industry thorough a creative credit policy. United Commercial Bank Limited incorporated on 26 June 1983 as a public limited company with limited liability under the Company Act 1994. The Bank obtained permission to commence business with effect from 26 June 1983 and started banking operations on 29 June 1983 with an authorized capital of Tk. 100 million ordinary shares of TK 100 each. The paid up capital was Tk. 35.5 million but now 119.8 cores. Later, both authorized and paid up capital were increased several times. Reserve funds of the bank comprised statutory reserves and general reserves of Tk. 334.78 million in 1999 as against Tk. 85.88 million in 1990. The bank is listed with Dhaka and Chittagong Stock Exchange. The Bank has in its Management a combination of highly skilled and eminent bankers of the country of varied experience and expertise successfully led by Mr. M. Shahjahan Bhuiyan, a dynamic banker, as its Managing Director and well educated young, energetic and dedicated officers working with missionary zeal for the growth and progress of the institution. The Company started its banking operation and entitled to carry out the following types of banking business. a. All types of commercial banking activities including Money Market operations. b. Investment in Merchant Banking activities. c. Investment in Company activities. d. Financiers, Promoters, Capitalists etc. e. Financial Intermediary Services. The Company (Bank) operates through its Head Office at Dhaka and 125 branches. The Company/Bank carries out international business through a Global Network of Foreign Correspondent Banks. The Registered Office of the Bank is: Plot: CWS (A)-1, Road: 34 Gulshan Avenue, Dhaka, Bangladesh. PABX: +88-02-8852500. E-Mail: info@ucbl.com.
4.1.2Our Mission and vision To offer financial solutions that create, manage and increase our clients’ wealth while improving the quality of life in the communication we serve.
Mission Statement: I shall be at the forefront of national economic development by: •
Setting industry benchmarks of world class standard in delivering customer value through our comprehensive product range, customer service and all our activities.
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Maintaining the highest ethical standards and a community responsibility worth of a leading corporate citizen.
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Anticipating business solutions require by all our customers everywhere and innovatively supplying them beyond expectation.
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Continuously improving productivity, and thereby enhancing shareholder value.
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Building an exciting team-based working environment that will attract, develop and retain employees of exceptional ability who help celebrate the success of our business, of our customers and of national development.
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Wants to be leader among banks in Bangladesh and make its indelible mark as an active partner in regional banking operating beyond the national boundary.
Our Vision
To be the bank of first choice through maximizing value for our clients, shareholders & employees and contributing to the national economy with social commitment.
Vision Statement: Philosophically a bank is a financial institution, which accepts depositor’s money for the safe keeping and contracts with depositors to lend this money as interest to individuals who are in need of its use and who can give ample security that the loans will be paid, from the profits made lending money at Interest the banker agrees to pay the legitimate depositors a fixes sum of interest beside safe guarding the deposits. The satisfaction of the client and customer can gain by providing different services.
Core Strength •
Transparent and quick decision making
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Efficient team of performers
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Satisfied customer
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Internal control
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Skilled risk management
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Diversification
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We put our customers first
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We emphasize on professional ethics
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We maintain quality at all levels
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We believe in being a responsible corporate citizen
Core Values
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We say what we believe in
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We foster participative management
Core Competencies •
Knowledge
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Experience and Expertise
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Customer focus
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Transparency
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Determination
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Zeal for improvement
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Pursuit of Disciplined growth strategy
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Reliability
Objective: The objective of United Commercial Bank Limited is specific and targeted to its vision and to position itself in the mindset of the people as a bank with difference. The objective of United Commercial Bank Limited is as follows
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To understand the Credit Policy of United Commercial Bank Limited.
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To identify the problems of Credit Policy of United Commercial Bank Limited.
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To find out the problem of client and employees to changes in credit policy in United Commercial Bank Limited.
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To understand Credit Risk Management Policy of United Commercial Bank Limited.
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To identify the problem of CRM in United Commercial Bank Limited.
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To provide suggestions for the improvement of Compensation management Policy of the Bank.
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To compare the credit operation of bank with the literature statement
4.1.3 Organizational structure of UCBL Chairman Board of Directors Executive Committee Managing Director Deputy Managing Directors Senior Executive Vice President Executive Vice President Senior Vice President Assistant Vice President First Assistant Vice President Senior Executive Officer Executive Officer Principle Officer
Senior Officer Management Trainee Officer Junior Officer
Structure of a Branch: •Head of Branch (Manager) •Assistant Manager •Senior Executive Officer •Officer •Junior Officer •Officer Cash •Cash Officer •Assistant Cash Officer •Customer Service Officer •Retail Marketing Officer Product & Service UCB Bank: United Commercial Bank is playing a pioneering role among its competitors in providing real time online banking facilities to its customers. United Commercial Bank online banking offers a customer to deposit or withdraw any sum of money from any branch anywhere. Any account holder having a checking account with the bank can avail this service.
UCB Multi Millionaire UCB Money Maximizes UCB Earning Plus UCB DPS Plus Western Union Money Transfer SMS Banking Service Online Service Credit Card One Stop Service Time Deposit Scheme Monthly Savings Scheme Deposit Insurance Scheme Inward & Outward Remittances Travelers Cherubs Import Finance Export Finance Working Capital Finance Loan Syndication Underwriting and Bridge Financing
4.2 Practices of Compensation Management of the UCB Bank Ltd. The Bank is committed to follow a fair, competitive and flexible remuneration policy. The Board is the final authority for approval of this policy and will amend and review the policy on recommendation of the Managing Director / Management Committee periodically.
4.2.1 Responsible persons to conduct Compensation Management of the UCB Bank Ltd. The remuneration policy of the bank will cover all persons engaged in permanent service of the bank. The different job grades at UCB Bank are as follows: •
Deputy Managing Director
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Executive Vice President Senior Vice President
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Vice President
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Senior Assistant Vice President
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First Assistant Vice President
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Assistant Vice President
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Senior Principal Officer
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Principal Officer
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Senior Officer
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Management Trainee Officer (Direct Recruit)
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Officer Grade II
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Officer Grade I
The Salary structure of the Bank is based on the aforementioned Job Grades. Job grades are decided on the basis of an analytic assessment of the position based on the size, responsibilities, decision-making authorities and the nature of the job.
4.2.2 Methods of Compensation Management of the UCB Bank Ltd. The remuneration of employees consists of: •
Basic Salary
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House Rent and
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Medical Allowance
Salaries are confidential between the employees concerned and the Management. The salary ranges for these job grades are reviewed from time to time. HR Temporary & outsource staff do not have any assigned job grade. The contracts get a consolidated payment per month and there are no other entitlements applicable except commission based on job criteria. Basic Pay: Basic Salary Ranges (BSRs) is commensurate with the job grades and is determined by the Board on the recommendation of the Managing Director. The Board reviews the BSR at least once every two/three years. House rent allowance: House Rent Allowance may be paid to the employees at such rates and on such conditions as may be prescribed by the Competent Authority from time to time. Medical allowance:
Medical Allowances may be paid in accordance with the job grades and on such conditions that may be prescribed by the Competent Authority from time to time. Festival Bonus: All regular and confirmed employees get two bonuses each year. One in Eid-Ul-Fitr and another during Eid-Ul-Azha only for Muslims and employees of different religion gets that bonus during their respective religious festival. There is also a performance bonus system maintained by the Compensation, Pay & Benefits wing. But final evaluation is always decided by the MANCOM. Other than the above benefit there is a Provident Fund System, a Gratuity System, Group Hospitalization Insurance Policy, Employee Security and Welfare Fund maintained by the Bank. Regular and confirmed employees can apply for House Building Loan and Car Loan. Allowances are also available to only regular and confirmed employees but Car Allowances are only for the grades above Senior Princip1al Officer (SPO). There is an annual increment for all regular and confirmed employees on their joining anniversary. Festival Bonus will be paid to all confirmed officers/staff at one month basic salary which will be reimbursed twice in each calendar year. All confirmed employees would get one bonus during Eid-ul-Fitre and another one for Muslims during Eid-ul-Azha and for others based on their respective religious festival. Non-confirmed employees will be entitled to get Festival bonus as pro rata basis depending on his/her BBL joining Date. HR Contract & Outsource Staff would get 1 bonus, which is 50% of this gross salary. The Board of the Directors will decide the annual salary revision and recommendation will be based on: • Revised Pay Scale, and/ or • Inflation adjustment rate • Performance
4.2.3 Errors or problems of Compensation Management of the UCB Bank Ltd. •
The salary structure is not high enough according to the workload of the employee. This discourages the employees to work hard and also increases turnover rate.
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The salary structure of this bank is not acceptable by all employees.
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Payment on the basis of seniority may discourage efficient and active employees.
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Lack of information about the employee performance.
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Overall economic condition sometimes hampers the payment decisions of the bank.
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In the salary package of UCBank ltd., House rent allowance is not sufficient for the employee.
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The overall situation of Human Resource for a company like UCB Bank Limited is not that much controlled to be used and utilized it perfectly. Compare to the workload there is not sufficient amount of refreshments. Too much work pressure on the employees sometimes makes them depressed towards teir work
• Chapter-5: Recommendation and conclusion Recommendations Through this study I myself gained some practical knowledge about credit business in Bangladesh and other banking stuffs. I want to put some suggestion here which I think if followed would definitely help United Commercial Bank Ltd. to promotion in credit business and also their banking system. •
In the credit department, strict supervision is necessary to avoid loan defaulters. The bank official should do regular visit to the projects.
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To attract more clients United Commercial Bank Ltd. should sought new marketing strategy, which will increase the total export and import business.
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Introduction of various incentives to increase remittance.
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Effective and efficient initiative is necessary to recover the default loans.
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To increase the knowledge and work with confidence, there is no alternative of training. Training programs increase the working capability of employees. The bank should arrange adequate Training programs for employees.
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The bank has to increase their advertisements and also increase their social activities.
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The bank must also open more branches in those places where people need banking facilities. Management should consider about the location to set up a new branch.
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Workload on the same level employees is not same; in this case management should distribute the work more carefully.
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Each and every branch should establish an information cell with one/two smart executives who will be able to provide all sort of information regarding banking and respective branch.
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Digital indicators can be set up inside the branch so that the customers do not get confused when they need to move from one section to another section. This will also enhance the branch premise more professional.
5.2 Conclusion : UCBL started its journey on 26 June, 1983 with the commitment of economic and social development of Bangladesh. After passing almost 29 years, UCBL still have a distinguished place among the finest banks in Bangladesh. The bank has 125 branches, 2783 dedicated employees and more than 5, 00,000 valued clients. The bank is always committed to deliver utmost satisfaction to the customers. The bank is dedicated to provide unique service to its customers, come up with timely and innovative products and services while emphasizing on the latest technology. The management of UCB is taking strategic steps to enable the bank to emerge as a strong and progressive institution. With a bulk of qualified and experienced human resource,
the bank can exploit any opportunity in the banking sector. It is continuing to make efforts to refine its products and operations to make them more compatible. New deposit schemes have been introduced and action plans have been taken to maintain revenue growth in future. The image created by the bank is very good and the total condition is almost within their control. UCB have the capacity to utilize all its resources. If it can utilize its all resources, it can earn more profit and can acquire the highest position among the banks inside Bangladesh. I am quite satisfied with their overall performance so far and wish a good success and bright future of the United Commercial Bank limited.
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