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MCB Bank Limited formerly known as Muslim Commercial Bank Limited 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 with a view to provide banking facilities to the business community of the South Asia..خوشآمديد

MCB Bank Limited


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MCB Bank Limited formerly known as Muslim Commercial Bank Limited 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 with a view to provide banking facilities to the business community of the 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 Mr. Atif Bajwa (previously with Citi Bank).

Founded in 1948, Nishat Group is one of the leading and most diversified business groups in Pakistan. The group has strong presence in the most important business sectors of the country such as banking, textile, cement and insurance.

Mian Mohammad Mansha is the Chairman of the group (and also MCB) and has played instrumental role in its success. In recognition of Mr. Mansha’s contribution, the Government of Pakistan has conferred him with "Sitara-e-Imtiaz", one of the most prestigious civil awards of the country.


MCB is Pakistan’s fourth largest bank by assets having an asset base of US$ 5.9 billion, and the largest by market capitalization having a market capitalization of US$ 1.8 billion. The Bank has a customer base of approximately 4 million and a nationwide distribution network of 1,081 branches, including 8 Islamic banking branches, and over 300 ATMs, in a market with a population of over160 million.

In 2009, MCB reported a profit after tax of PKR 15.5 billion (appx.US$183 million) and generated a return on average equity of 27.35% and a return on assets of 3.25%. The Bank’s asset quality is strong with a gross NPL ratio of 8.62%.

During the last fifteen years, the Bank has concentrated on growth through improving service quality, investment in technology and people, utilizing its extensive branch network, developing a large and stable deposit base and managing its non-performing loans via improved risk management processes.

MCB has 1081 branches (as of 31st December, 2009) 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. MCB has been successful in turning around its operations since its privatization and is moving forward to set high performance standards with the continuous support of its customers and leadership in banking technology. To further strengthen its financial services base, MCB has also incorporated an Asset Management Company in the year 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) The Bank has achieved this success, especially in the last few years, through consolidating corporate banking operations, strengthening retail banking, launching diversified and innovative products, giving more focus to consumer financing and investing in IT.

Business Strategy

The business strategy of MCB is to provide financial solutions to major segments of its customer base, namely retail and corporate. Separate business groups have been set up to ensure a more focused approach in satisfying the diversified customer segments. 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 plan for future is to further realize the capacity of Islamic Financial Systems and to bring Shariah compliant network parallel to current retail network of traditional banking.

Wholesale Banking Group caters to the top tier local and multinational companies. As a result of organizational restructuring, including reinvigorating Investment Banking and beefing up relationship teams, the Group is in line with the industry’s best practices. MCB has closed some large deals and is currently working on a number of large transactions including advisory business. It is a strong competitor in cash management and structured financing activities.

Retail Banking Group focuses on trading and middle market segment primarily for building risk assets and trade related business. MCB caters to their needs of financing 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. A separate SME Financing Division has been set up to provide customized financing solutions to this very important segment of the economy. The Group also focuses on the development of innovative consumer asset products for satisfying the personal needs of the customers. MCB has a significant share of consumer financing business with its House and Car Financing schemes. The recently launched 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. With the experience gained in the past few years, the Bank is fast progressing towards becoming the leading bank in consumer business.

Information Technology

MCB’s name is synonymous with ATM facility in the country as the Bank has been a pioneer in introducing 24-hour cash withdrawal facility and on-screen transactions. MCB ATM/Debit Card, the most multifunctional card of the country, with its collaboration with Cirrus and Maestro can be used globally. The Bank has also deployed an extensive network of Point of Sale Terminals at thousands of merchants in major cities of the country, thus having the privilege of being the first and only bank with full-fledged card acquiring and issuing systems. The Bank also pioneered the idea of sharing its ATM network with other banks by establishing an electronic platform for enhanced network accessibility and secure on-line transactions. This step has also played an important role in interconnecting all ATMs of the country.

MCB mobile banking was launched in mid-CY09, and volumes on the platform have already crossed the PKR 1 billion mark. While the services are free for now, going forward this entails improvement in fee income as well as generation of sticky zero-cost deposits.

Technological leadership has helped the Bank in providing multiple delivery channels to the customers and satisfying their needs anytime & anywhere in the world. MCB offers the most comprehensive Internet banking solution in the country. MCB Virtual-Internet Banking with its wide ranging banking solutions for the customers for individual as well as corporate customers has become the most preferred Internet banking solution in the country.

Recognition at Home & Abroad

MCB at home is recognized as a successful model of privatization. It has completed almost nineteen successful years of privatization in 2010 and its growth and stability is a case study for prospective government institutions waiting to be privatized.

The consistency in growth and the resilience MCB has shown during the past few years, especially at uncertain economic times is by all means outstanding. The acknowledgements do not end at home. MCB Bank Limited received Euromoney Award for Excellence seven times in the last eight years, which include “Best Bank in Asia” in 2008; four times “The Best Bank in Pakistan” award and one time “The Best Domestic Bank” award besides being declared the “The Best Domestic Bank in Pakistan” by Asia Money for the last two years. MCB Bank also received the “The Strongest Bank 2010” award by The Asian Banker for being Pakistan’s best-performing financial institution in 2010. President and CEO MCB Bank, Atif Bajwa, has been awarded “The Qatar Financial Centre Asian Banker Leadership Achievement Award 2010”.

MCB & Maybank

In 2005, the management of the bank abbreviated its name from Muslim Commercial Bank Limited to MCB Bank Limited to explore international markets; they were facing resistance due to the word Muslim especially from Western Countries to avail license. In 2008 the head office of MCB was shifted from Karachi to Lahore in a newly constructed building, namely MCB House located at Sharea Ghous-ul-Azam, commonly known as Jail Road.

The MCB Tower in Karachi serves as the MCB's headquarters, and is also the tallest building in Pakistan. MCB, advised by Merrill Lynch, became the fourth Pakistani Company (the other three being Hubco, PTCL and Chakwal cement - they all have been delisted) to list on the London Stock Exchange when it raised US$150 million global depositary receipts.

In May 2008 Malaysian bank, Maybank and MCB signed an agreement, whereby Maybank acquired 20% of the ordinary shares in MCB from Nishat Group. The acquisition is in-line with Maybank’s strategy, as Malaysia’s financial services leader in the region, to build its presence in key growth markets across the region. It also paves the way for MCB, one of Pakistan’s premier financial services groups, to engage Maybank as its exclusive foreign commercial bank strategic partner.

Maybank initially acquired from Nishat Group 94,241,527 ordinary shares in MCB, representing a 15% stake in the Bank, for a cash price of PKR470 per share. The total consideration paid was approximately US$686 million. The purchase price represented an 11.4% premium to MCB’s closing share price of PKR 422 on May 2, 2008, and a premium of 12.9% to the average closing share price for MCB over the 30 trading days immediately preceding the date of this announcement.

Based on MCB’s December 31, 2007 audited book value, the purchase price represents an implied price to book value multiple of 5.13x, a price to 2007 earnings multiple of 18.0x and a price to 2008 earnings multiple of 15.2x. In July 2008 Maybank exercised its right to increase its stake to 20%.

The stake in MCB allows Maybank the right to appoint two Directors to represent its interest on the Board of MCB. One of these Directors was to be appointed immediately and the second Director will be appointed upon completion of the term of the existing Board, scheduled to be on March 27, 2009.

As part of the transaction, Maybank and MCB are also expected to enter into a business cooperation arrangement which will include, among others, Islamic banking, retail banking, credit cards, asset management and SME banking. Leveraging Maybank’s leadership and experience in these segments coupled with MCB’s brand and broad distribution network, Maybank and MCB believe that significant revenue synergies can be attained. Both Maybank and MCB are also expected to benefit from increased business ties and trade flows between Pakistan and Malaysia



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