MCB Bank Limited

The Best Bank in Pakistan

Corporate Profile

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MCB Profile
Our Mission
To become the preferred provider of quality financial services in the country with profitability and responsibility and to be the Best Place to Work. It is a continuing endeavour to which we all are firmly committed. Euromoney Magazine has declared MCB the Best Bank in Pakistan in 2004. This makes MCB the only bank in Pakistan that has been awarded the Euromoney Award for Excellence four times in the last five years. Now, we present a brief profile of MCB Bank Limited.

MCB Profile - updated in Nov 2005

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MCB was established in Calcutta in July 1947 by two of the most

enterprising business houses of pre-partition India viz. Isphahanis and the Adamjees. Soon after participation, the headquarters of the bank were shifted initially to Dhaka in August 1948, former East Pakistan and later, in 1956, to Karachi.
The bank remained in the private sector until January 1974. Between January 1974 and March 1991, it remained in the public sector as a Nationalized Commercial Bank for a period of over 17 years. It was privatized on April 8, 1991. The privatisation of MCB Bank Limited marked the beginning of the privatization era in Pakistan, as MCB was the first public sector enterprise to be privatized. This large and highly successful privatization event represented a quantum leap towards deregulating the economy, more so as MCB was the largest private commercial bank in Pakistan. The challenge to make this venture a success was multi-faceted and the National Group was conscious of the great responsibility it had accepted. The Group constituted a management team which had the managerial experience and expertise required for meeting such challenges i.e. of reviving business enterprises which had been under state control for nearly two decades. Fortunate for the bank and its valued customers, the new management comprised of well-known professional leaders in business and the banking industry. The bank continues to benefit from their vast and varied experience in both domestic and international trade, finance, and industry. Details of these achievements are described in ensuing paragraphs. Progress since privatization The post privatization leaders brought about qualitative changes in all spheres of management to reinvigorate the bank for meeting the challenges posed by pressures generated by free market forces. MCB remained conscious of the serious economic challenges Pakistan had been facing, and its marketing thrust has been directed at

MCB Profile - updated in Nov 2005

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improving and enlarging its trade finance service capabilities. The resultant sizable increase in the bank's share of foreign trade business of both national and multi-national corporations has been very encouraging. Besides this commendable success, the bank has also pioneered marketing of a much wider variety of saving and investment products, and has also set-up investment banking and portfolio management services. The aim of these efforts is to speed up mobilization of savings for channeling them into ever expanding investment needs of a de-regulated economy. Business Management Achievements MCB's progress since privatisation has been exemplary. The salient features of this progress have been tremendous growth in its deposit base, assets, and quantum of business routed through it. These extraordinary results were achieved due to significant changes in manpower management practices, investment in technology, development of new products and services, and expansion of operations in foreign markets. Manpower development Conscious of the requirements of building a solid human resource, the management has been regularly inducting qualified and trained manpower, while significantly improving the skills, working conditions and remuneration packages of the existing employees. This is largely depicted through the induction of batches under various recruitment schemes such as Probationary Officers, Management Trainees, Credit Administration Officers, Customer Service Officers, Auditors, and Cash Officers etc. in the work force. These schemes of fresh induction played an important role in supporting and strengthening the middle management cadre and providing them the space for preparing themselves for shouldering the senior management positions in due course. Training & Development The Bank has a highly developed training system, which includes three Training Centres at Karachi, Lahore and Islamabad providing internal training at all levels of the Bank in order to continually improve efficiency, banking skills and customer service. Cognizant of the specific training needs of its staff, the Bank has been nominating its staff in courses offered by reputable domestic as well as overseas training institutions.

MCB Profile - updated in Nov 2005

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Investment in new technology Banking in Pakistan is becoming an increasingly more sophisticated financial service industry than it has ever been in the past. Customer service expectations have gone up considerably, and to meet these expectations, technology has acquired a pivotal role. Provision of prompt and efficient customer services is becoming virtually impossible without a quantum leap in replacing old technology inherited from the pre-privatisation era. There is an increased reliance on computerized operations in branch offices to augment their capability in routine record keeping, convenience in information retrieval and streamlining customer services. Before privatisation MCB had only 60 computerized branches. Today, 780 branches (267 on-line & 513 off-line) are computerized. This shows the commitment of the bank towards improving efficiency and customer satisfaction and adopting to new realities. The bank has recently purchased new customer-centric global banking software called SYMBOLS. To provide 24-hours cash facility to its customers, the bank has so far 225 branches with Automated Teller Machines (ATMs) in 41 cities including Karachi, Hyderabad, Nawabshah, Larkana, Sukkur, Quetta, R.Y.Khan, Sadiqabad, Bahawalpur Multan, Sahiwal, Lahore, Wazirabad, Kamoki, Faisalabad, Sargodha, Gujrat, Gujranwala, Sialkot, Jhelum, Rawalpindi, Islamabad, Wah, Haripur, Abbottabad, Peshawar, Naushera, Murree and Swat. The Debit or Smart Card has also been added to the list of MCB products to further facilitate the customers. The bank has also started replacing conventional telex messaging system for funds transfer, L/C opening etc., by connecting on-line with the world wide Inter-bank Financial Telecommunication Network (SWIFT). So far, MCB has over 54 branches using SWIFT. Besides substantial savings in costs, the use of this fast and secure communication technology has enabled the Bank to provide quick and efficient service to its customers. Modernization of branch premises Most of the branches of the Bank have been face-lifted, refurbished and air-conditioned to provide greater comfort and confidence to our customers. The modernization of branches is an expensive proposition but is now in the face of competition, which

MCB Profile - updated in Nov 2005

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requires urgency. The Bank plans to continue this modernization process over the next years to make the branches equipped to meet emerging customer needs and preferences. Branch Network Branch network has been divided into two business segments namely - Retail & wholesale. The consumer products are offered by the retail segment. This segmentation is aimed at providing customized service. MCB branch network is enclosed. There are five overseas branches in the network, which are as follows: 1. Colombo, Srilanka 2. Pettah, Srilanka 3. Maradana, Srilanka 4. Manama, Bahrain 5. EPZ in Pakistan Trade Finance Centres To expedite the internal trade business routed through MCB, 7 Trade Finance Centres have been established. These centres are located at Karachi, Lahore, Rawalpindi, Faisalabad, Gujranwala, Sialkot & Peshawar. By their creation the bank is reaping the following benefits: Reduction in turnaround time Reduced Cost Improved customer service

Products and services The most significant qualitative change in the management philosophy of the Bank has been a shift in favour of experimenting with new ideas, products and financial services. Since privatisation, MCB has introduced greater number of new products and services than any other bank in Pakistan. MCB offers a wide range of financial products & services; especially designed to meet particular requirements of various customer segments. The list of these products & services is enclosed.

MCB Profile - updated in Nov 2005