Euromoney declares MCB best bank in Pakistan
RECORDER REPORT
KARACHI (July 16 2004): The Euromoney Magazine has declared that Muslim Commercial Bank is the best bank in Pakistan. In the last five years, MCB has been given fourth time the Euromoney Award for Excellence which makes the MCB only Bank in the country.
The esteemed banking award was given in a ceremony held at London where Aftab Manzoor, President and CEO of the MCB received the award.
MCB has shown consistent growth with diversified products and services portfolio. With a network of almost 1000 branches, the bank continuously endeavours to achieve leadership in innovation and customer convenience.
Its emphasis has always been on multi delivery channels. Apart from the first bank to launch comprehensive Internet Banking, it has the largest network of automated and online branches, POS terminals and ATM's in Pakistan.
The bank is also the largest issuer of plastic with the largest share in ATM and Debit transactions in the country.
The bank has strong presence in Corporate Banking, having closed some large deals and currently working on a number of large transactions including advisory business.
It is a strong competitor in cash management and structured financing activities. The bank has renovated a large number of branches and staff has been trained for meeting the requirements of SME's and other retail customers.
MCB also commenced its Islamic Banking operations last year. The results have been very encouraging and now the bank is expanding it in other parts of the country.
In the Consumer Banking arena, the bank's performance has been impressive and puts the bank in top echelons on consumer financing. Overall from the risk management perspective, MCB follows a conservative approach given the requirement of the prevalent economic and social environment, however the bank balances it out by catering to the specific business needs of each sector of the economy.
MCB has also been active in debt and equity markets, which also contributed a significant share in its profit growth.
Copyright Business Recorder, 2004