MCB Bank Limited

MCB Bank Ltd.

MCB Bank headquarters in Karachi
Traded as	: MCB, :, : [2]
Industry	Banking Capital Markets
Founded	1947
Headquarters	MCB Tower, Karachi, Sindh, Pakistan
Key people	Husnain Ijaz (Chairman)
Products	Loans, credit cards, savings, consumer banking etc.
Revenue	₨66.43 billion (US$630 million) - 2015
Net income	₨25.55 billion (US$240 million) - 2015
Website	www.mcb.com.pk

MCB Bank Limited (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).

MCB is Pakistan’s 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.

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 bank’s 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 Sri Lanka 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: