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Harbin Bank the System of Lending Money - Assignment Example

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This paper 'Harbin Bank – the System of Lending Money" focuses on the fact that this summer, the author was working at Harbin Bank, which is an outstanding bank in the Northeast of China. Harbin bank rose in recent years abruptly as a result of joint stocks. …
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Harbin Bank the System of Lending Money
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Download file to see previous pages The banker’s magazine of China ranks Harbin bank at position 9 among the companies that trade with assets of more than 80 billion Yuan in the whole country. Harbin bank’s mission statement is “to create profits to her shareholders, make customers get more value, make the employees have hope in their future and also create wealth to the society”. This is in line with her philosophy of “inclusive finance and harmoniously getting rich”. Being based in the Northeast of China, Harbin bank is geared to supporting the SME’s and also in creating an international microcredit bank which is renowned. Harbin bank made a wise decision to offer loans to small and medium-sized enterprises (SME’s) since 2004 and the shifting of the focus to the SME’s has solved the financial problems of the SME’s. Harbin bank’s small loans are classified into four main parts, namely, loans for farmers, loans for small enterprises, loans for personal consumption, and loans for micro-enterprises. According to the bank's financial statement, by the end of 2009, the small loan bank balance was 18.933 billion Yuan. This accounted for 60% of the bank’s total credit asset. 

As I explained above, Harbin bank enrolled a system of lending money to SME’s since the year 2004. These types of loans as explained above includes loans for farmers, loans for small enterprises, loans for personal consumption, and loans for micro-enterprises. When I was working at the Harbin bank which is a local bank during my internship, my job was mostly to assist in the process of lending the money to small and the medium-sized companies.
The focus of my work specifically was in issuing of loans to the small and the medium-sized enterprises. As part of the orientation to the company and to renaissance myself to the processes in the bank, the manager assigned one of the employees who was knowledgeable and very familiar with the processes of lending of the money to help me with most of the work. After some time, with the assistance I got from her, I got the whole idea and came to learn the whole process of issuing the loans. This improved the rest of my working days with the bank.
The initial step in the process of lending was communication between the customer with the bank. Moreover, the company which needs the money need to have a meeting with the bank for the purpose of sharing information between the bank and the company. The information arrives at a common agreement on the laid down conditions between the two parties. During this process, we ask questions concerning the condition of the company. For instance, how much they need, their plans for the loan, the number of creditors and the number of the debtors and the collateral they plan to pledge. After analyzing their application and their documents, we give them information on how much the bank is willing and capable of lending them and their required payback amount. If the two parties strike common ground in the negotiation table then, we ask the company to prepare materials for the bank to process the loan. The documents we always request to be provided are supposed to be original and their copies and they include company ownership documents, licenses of the business, loan application, financial report capital verification report, tax registration certificate among others.    ...Download file to see next pagesRead More
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