citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . june 2007 learn how and when to remove this template message mcb bank ltd. traded as kse mcb lse 1 ise 2 industry banking capital markets founded 1947 headquarters registered office islamabad principal office lahore pakistan key people husnain ijaz chairman products loans credit cards savings consumer banking etc. revenue 66.43 billion us 650 million 2015 1 net income 25.55 billion us 250 million 2015 1 website www.mcb.com.pk this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . february 2016 learn how and when to remove this template message mcb bank head office mcb tower in karachi pakistan . mcb tower headquarters of mcb bank limited in karachi pakistan . 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 . contents 1 profitability 2 business strategy 3 information technology 4 mcb and maybank 5 see also 6 notes 7 references 8 external links profitability edit 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 . 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 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 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 edit 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 . information technology edit mcb s name is synonymous with atm facility in the country citation needed as the bank has been a pioneer in introducing 24 hour cash withdrawal facility and on screen transactions . mcb atm debit card with its collaboration with visa can be used globally . the bank also pioneered the idea of sharing its atm network with other banks by establishing an electronic platform for enhanced network accessibility and secured online transactions . this step has also played an important role in interconnecting all atms of the country . mcb and maybank edit 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 . citation needed 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 5.13 x a price to 2007 earnings multiple of 18.0 x and a price to 2008 earnings multiple of 15.2 x. 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 . maybank and mcb are also expected to benefit from increased business ties and trade flows between pakistan and malaysia see also edit economy of pakistan list of banks in pakistan notes edit a b mcb annual report 2015 pdf . mcb.com.pk . retrieved 10 april 2016 . references edit dawn news external links edit muslim commercial bank dawn news v t e banking in pakistan central bank state bank of pakistan big four hbl pakistan mcb bank limited national bank of pakistan united bank limited pakistan commercial banking allied bank limited askari bank atlas bank bank al habib bank alfalah bank of khyber bank of punjab faysal bank first women bank habib metropolitan bank industrial development bank js bank nib bank sindh bank soneri bank summit bank zarai taraqiati bank limited microfinance banking finca microfinance bank limited first microfinance bank pakistan khushhali bank nrsp microfinance bank tameer microfinance bank limited islamic banking bankislami pakistan burj bank dubai islamic bank pakistan limited meezan bank foreign banks barclays hsbc bank middle east royal bank of scotland standard chartered pakistan defunct banks bank of credit and commerce international kasb bank mybank picic commercial bank union bank see also list of banks in pakistan pakistan remittance initiative pakistani bankers institute of bankers pakistan national institute of banking and finance category v t e kse 30 companies of pakistan adamjee insurance arif habib corporation limited askari bank attock petroleum attock refinery bank al falah bank al habib d.g. khan cement engro corporation engro foods fatima fertilizer fauji fertilizer bin qasim fauji fertilizer company limited hbl pakistan hub power company ici pakistan js group kot addu power company lucky cement mcb bank limited millat tractors national bank of pakistan national refinery nishat mills oil and gas development company pakistan oilfields pakistan petroleum pakistan state oil pakistan telecommunication company ltd trg pakistan united bank limited pakistan as of july 2013 retrieved from https en.wikipedia.org w index.php title mcb bank limited & oldid 744212908 categories 1947 establishments in pakistanbanks established in 1947banks of pakistancompanies listed on the karachi stock exchangehidden categories articles needing additional references from june 2007all articles needing additional referencesarticles with a promotional tone from february 2016all articles with a promotional toneall articles with unsourced statementsarticles with unsourced statements from february 2016 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