Banking

Industry
Capital Markets
Founded 1947
Registered Office: Islamabad,
Headquarters
Principal Office: Lahore Pakistan
Key people Husnain Ijaz (Chairman)
Loans, credit cards, savings,
Products
consumer banking etc.
66.43 billion (US$650 million) -
Revenue
2015[1]
25.55 billion (US$250 million) -
Net income
2015[1]

Mcb Bank:History
(formerly Muslim Commercial Bank) previously named as a (Manjoo Co-operative Bank)
was incorporated by the Adamjee Group on July 9, 1947, under the Indian Companies Act,
VII of 1913 as a limited company. The bank was established to provide banking facilities to
the business community of South Asia. The bank was nationalized in 1974 during the
government of Zulfikar Ali Bhutto. This was the first bank to be privatized in 1991 and the
bank was purchased by a consortium of Pakistani corporate groups led by Nishat Group. As
of June 2008, the Nishat Group owns a majority stake in the bank. The president of the bank
is Imran Maqbool.

The group has a presence in business sectors of the country such as banking, textile, cement
and insurance.

Mian Muhammad Mansha is the Chairman of the group (and also MCB).

Profitability
MCB is Pakistans second largest bank by assets having an asset base of US$7 billion as at
quarter 1, 2012, and the largest by market capitalization having a market capitalization
recorded at $1.2 billion at year end 2011, which was comparatively lower than $1.8 billion
the year before, mainly on account of lower market value.[citation needed]
The bank has a customer base of approximately 4 million and a nationwide distribution
network of 1,190 branches, including 22 Islamic banking branches (December 31, 2011)
within Pakistan and eight branches outside the country (December 31, 2011 including the
Karachi Export Processing Zone Branch), and over 650 ATMs in 110 cities, in a market with
a population of over 190 million.

In 2011, MCB reported a profit after tax of PKR 19.4 billion (approximately $205 million)
and generated a return on average equity of 26.23% and a return on assets of 3.18% (2010:
3.13%) The banks asset quality is strong, with a gross NPL ratio of 8.64%.

MCB has 1165 branches (December 31, 2011), including local branches, and business
establishments in SriLanka and Bahrain, including newly established Rep. Office in Dubai,
UAE. The bank has also formed a private company in Hong Kong (fully owned subsidiary of
MCB) in partnership with Standard Chartered Bank, handling trade transactions of select
countries in the Asia-Pacific region. To further strengthen its financial services base, MCB
incorporated an asset management company in 2005 known as MCB Asset Management
Company. MCB has also incorporated a leasing company in Azerbaijan in 2009.

Fully owned subsidiaries of MCB are:

Muslim Commercial Financial Services (Private) Limited,

MNET Services (Private) Limited,

MCB Trade Services Limited,

MCB Asset Management Company Limited,

MCB leasing (Closed Joint Stock Company).

Business strategy
The bank has also established an Islamic Banking unit to offer Shariah compliant products
and services, with dedicated Islamic banking branches in six cities.

The Wholesale Banking Group caters to local and multinational companies.[citation needed]

The Retail Banking Group focuses on trading and middle market segment primarily for
building risk assets and trade related business. MCB caters to the financing of foreign and
local trade, funds transfer and other seasonal requirements. The Bank has renovated a large
number of branches and staff has been trained for meeting the requirements of SMEs and
other retail customers.[citation needed]

An SME Financing Division has been set up to provide customized financing solutions. The
group also focuses on the development of consumer asset products. MCB has a significant
share of consumer financing business with its House and Car Financing schemes. The
running financing facility against the mortgage of property is also expected to go a long way
in increasing the quality consumer credit portfolio of the bank.[citation needed]

Other areas such as Bancassurance set newer records as well by crossing the Rupees 1 billion
benchmark in 2011.[citation needed] Islamic Banking outperformed in terms of improved
profitability and volumes with introduction of additional 11 products and expansion with 8
new branches in 2011 and Privilege Banking, an elite setup, is a benchmark in the industry.
[citation needed]
They have nine branches across major cities.

Requirement of opening aaccount in mcb

Each bank has its own criteria for opening a current account. However, all
commercial banks in Pakistan now offer a Basic Banking Account(BBA) that
requires a minimum initial deposit of Rs. 1000. The State Bank of Pakistan
(SBP)has defined a minimum set of features (BPD Circular No. 30 of 2005) that all
banks have to provide with the BBA account. These features are listed below:

a. The minimum initial deposit will be Rs 1000.

b. Will be non-remunerative account.
c. No limit on minimum balance. In cases, where balance in BBA remains nil for
a continuous six-month period, such accounts will be closed.
d. No fee for maintaining BBA.
e. Maximum two deposit transactions and two chequing withdrawals are allowed,
free of charge, through cash/clearing per month.
f. Unlimited, free of charge, ATM withdrawals from the banks own ATMs. In case
of withdrawal from BBA through the ATM machines of other banks, the
respective/other bank may recover charges for such transactions.
g. For the existing banking accounts, banks may get the consent of all their
customers whether they wish to maintain a BBA with them or a regular full
service banking account with its accompanying terms and conditions. In case an
account holder does not give his/her consent for a BBA, his/her account will be
treated as a regular full service banking account.
h. Statement of account will be issued once in a year.

Methords of International payments

Home Remittance
Send FREE, Receive FREE
MCB Home Remittances offers an unmatched service for overseas Pakistanis to send money
home FAST and FREE across Pakistan within our large network of over 1200 branches.

MCB Home Remittance Service is FREE & INSTANT throughout our

network of international send-agents like "MoneyGram", "Xpress Money"
and "Samba Speed Cash Now". Pick up your remittances from any MCB
Bank branch displaying these logos.
 MCB Burqraftaar Transfer (Straight to Account!) enables you, the
Non-Resident-Pakistanis, to send money to your loved ones in Pakistan
through our hassle free straight to account credit service.

MCB Burqraftaar Cash (Cash in Hand!) is available via MCB's entire

branch network. Payments can be made at any MCB Bank branch to walk-
in customers simply with the provision of their Xpin code and CNIC (No
account number is required for such transactions).Home Remittance
Yaani MCB Bank !

*For SMS alert a valid mobile number of the beneficiary is required.

Main investment options

Investment Plans Single Premium Plans

Objective
The objective of the investment is to provide the customer with the convenient hassle free
single investment option with the added advantage of life. The purpose is to maximize the
return for the investor by the strategically investing in one of two funds with different
combinations of investments keeping in mind the individual risk appetite and return
expectation. The plan also provides built in natural and accidental death coverage to cater to
the production needs of the customer.

Description
This is a flexible single premium unitized investment linked insurance plan that gives the
investor access to the professionally managed Unit Linked Fund with the benefit of life
insurance cover package in. Free accidental coverage of twice the investment amount is also
provided with an upper limit of PKR 5 million.
Premium/investments are mainly used to purchase units in Funds. Additionally the individual
have to make just a onetime investment and the Plan will continue till maximum 25 years
term or 85th birthday whichever comes first.
The cash value of the plan will vary directly with the investment performance of the Funds.
To cater to the investors changing needs, the plan provides many flexible options such as
altering his/her investment and protection level, topping up, switching among units Funds,
etc.