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Internship Report on MCB Bank Ltd.

MBA Finance REG:‐2007‐AG‐240
Internship Report on MCB Bank Ltd. Dijkot Road Branch (1202) Faisalabad.

Submitted By: ‐ Umar Khalil

Submitted To:‐ Sir Yasin Zia

MBA Regular, Section C Registration # 2007‐ag‐240

Dedication & Acknowledgements
I dedicate this internship report to my parents & my friend. Because
of their prayers and encouragement I have been able to complete this report.
Praise is to Allah, the most Gracious and Merciful, who blessed me with the knowle
dge and
wisdom and enabled me to overcome this task. Heartiest gratitude to my parents wit
their continuous encouragement and love I could not have accomplished this task.
I am very grateful to Mr. Amir Adnan in charge placement centre for their continuo
us help,
support and time during the entire course of my internship. I am also very gratefu
l to all the staff members at MCB Dijkot Road Branch, Faisalabad
especially Mr. Saleem and Mr.
Waheed, & Mr. Shahid for their guidance and encouragement.

Executive Summary
MCB Bank Limited (Formerly Muslim Commercial Bank Limited) has a solid
foundation of over 50 years in Pakistan, with a network of over 900
branches, over 750 of which are
Automated Branches, over 222 MCB ATMs in 41 cities nationwide and a network of ove
r 12 banks on the MNET ATM Switch.
MCB's operations continued to be streamlined with focus on rationalization of expe
nses, re‐ alignment of back‐end processing to increase productivity,
enhancement of customer service standards, process efficiency and
controls. The Bank has taken the lead in
introducing the innovative concept of centralizing Trade Services in the country b
y providing
centralized foreign trade services to branches with a view to improve efficiency,
expertise and reduce delivery cost. During my internship in MCB I worked
in Operations, Advances, Foreign Exchange and Customer Service Office
department and I successfully completed all the task/duties that
were assigned to me. During the course of internship I learned about
different functions performed by
Operations, Advances, Foreign Exchange and Customer Service Office department and
as a whole. I also learned bank’s correspondence with their customers and within b
I learned about documentation requirements and record keeping for different activi
ties and processes, especially the documentation requirement for different
kinds of financing facilities.

SR # 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

Content History and introduction Vision and mission Principal of performance

Objective Awards Corporate information Management Hierarchy Branch network
Introduction to my branch Business operation and services Products Financials
Ratio analysis Swot analysis Competitive strategy Work done by me
Recommendations conclusion

Page No 06 11 12 13 14 15 18 20 22 23 24 38 47 52 56 59 61 69

History & Introduction

The word ‘Bank’ is said to have been derived from the words Bancus
or Banque or Bank.
This history of banking is traced to as early as 2000 B.C. The priests in Greece u
sed to keep
money and valuables of the people in temples. These priests thus acted as financia
l agents.
The origin of banking is also traced to early goldsmiths. They used to keep strong
safes fro
storing the money and valuables of the people. The persons who had surplus money f
ound it safe and convenient of deposit their valuables with them. The
first stage in the development of modern banking, thus, was the
accepting of deposits of cash from those
persons who had surplus money with them.
The goldsmiths used to issue for the money deposited with them. These receipts beg
an to
pass form hand to hand in settlement of transactions because people had confidence
in the integrity and solvency of goldsmiths. When it was found that
these receipts were fully
accepted in payment of debts; then the receipts were drawn in such a way that it e
any holder to claim the specified amount of money form goldsmiths. A depositor who
is to
make the payments may now get the money in cash form goldsmiths or pay over the re
ceipt to the creditor. These receipts were the earlier bank notes. The
second stage in the development of banking thus was the issue of bank notes.
The goldsmiths soon discovered that all the people who had deposited money with th
em do
not come to withdraw their funds in cash. They found that only a few persons prese
nted the receipts for encashment during a given period of time. They
also found that most of the money deposited with them was lying idle.

Before separation of Indo Pak, the need for more Muslim banks was
felt. And
Muslims having strong financial capacity were thinking to invest in this ‘sector a
s well. This
was the idea, which paved the way for setting up MCB Bank Ltd known as MCB. This w
as the third Muslim bank in the subcontinent. MCB is one of the
leading banks of Pakistan with a deposit base of about Rs. 230
billion and total assets of around Rs.300 billion. Incorporated in 1947, MCB soon
earned the reputation of a solid and conservative financial institution
managed by expatriate
executives. In 1974, MCB was nationalized along with all other private sector ban
ks. This led to deterioration in the quality of the Bank’s loan
portfolio and service quality. Eventually, MCB was privatized in 1991.
This bank was incorporated under companies’ act 1913 on 9th
July 1947 (just before partition) at Calcutta. But due to changing
scenario of the region, the certificate of
incorporation was issued on 17th August 1948 with a delay of almost 1 year; the ce
was issued at Chit gong. The first Head office of the company was established at D
haka and Mr. G.M. Adamjee was appointed first chairman. It was
incorporated with an authorized capital of Rs. 15 million.
After some time the registered office of the company was
shifted to Karachi on August 23rd, 1956 through a special resolution,
now recently the Head office of MCB has been transferred to Islamabad
in July, 1999 and now Head office is termed as Principle Office.
This institute was nationalized with other on January 1st,
1974. At that time it had
506 branches and deposits amounting to Rs. 1,640 million. Although. MCB has a repu
of a conservative bank but nationalization also left its effects on this institute
as well and by
end of year 1991 in which it was privatized the total number of branches were 1.28
7 and deposits amounting to as high as Rs. 35,029 million.
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 privatization of
Muslim Commercial Bank 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.
When privatization policy was announced in 1990, MCB was the first to be
upon recommendations of World Bank and IMF. The reason for this choice was the bet
ter profitability condition of the organization and less risky credit
portfolio which made” it a
good choice for investors. On April 8th, 1991, the management control was handed o
ver to
National Group (the highest bidders). Initially only 26% of shares were sold to pr
ivate sector at Rs. 56 per share.
The bank remained in the private sector until January 1974.
The challenge to make this venture a success was multi‐faceted and the Nation Grou
p was
conscious of the great responsibility it had accepted. The Group constituted a man
agement team which had the managerial experience and expertise required
for meeting such
challenge i.e. reviving a business enterprises which had been under state control
for nearly two decades. Fortunate for the bank and its valued
customer, the new management comprised of well‐known professional leaders
in business and banking industry. The bank continues to benefit from
their vast and varied experience in both domestic and international
finance and industry. Details of these achievements are described in ensuing parag

Progress since privatization

The post privatization leaders brought about qualitative changes in all
shapes 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
improving and enlarging its trade finance service capabilities. The resultant siza
ble 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 if 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.
After privatization, the growth in every department of the bank has been observed.
Following are some key developments: Launching of different on foreign trade.
Increased participation of foreign service level.
Betterment of branches and staff service level.
Introduction of Rupee Traveler Cheques & Photo Credit Card for the first time in
Pakistan. 5) Extended use of information technology, which is evident
from the fact that there are 768 fully automated braches, 243 online
branches (integrated networking), 151 ATMS in 27 cities nation wide and
a M.C.B continuously innovate new product. During the last fifteen
years, the Bank has concentrated on growth through improving
service quality, investment in technology and people, utilizing its extensive bran
ch network, developing a large and stable deposit base and managing its
non‐performing loans via improved risk management processes.

1) 2) 3) 4)
Training & Development
The Bank has a highly developed training systems, which includes three
staff colleges
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 bee
n nominating its
staff in courses offered by reputable domestic as well as overseas training instit

Investment in new technology

Banking in Pakistan is becoming an increasingly more sophisticated fi
nancial service industry than it has ever been in the past. Customer
Services expectations have gone up
considerably, and to meet these expectations, technology has been acquired a pivot
al role.
Provision of prompt and efficient customer services is becoming virtually impossib
le without a quantum leap in replacing old technology inherited from the pre‐
privatization era. There is an increased reliance on
computerized operations in branch offices to
augment their capability in routine record keeping, convenience in information ret
rieval and streamlining customer services. Before privatization
MCB had only 60 computerized branches. Today, 942 branches (400 on‐line
& 542 off‐line) are computerizes. This shows the commitment of the
bank towards the efficiency and customer satisfaction and adapting to
new realities. The Bank has recently purchased new customer‐
centric global banking software called “SYMBOLS”. It
will be installed soon and will start functioning in 2004. To provide 24‐
hours cash facility to its customers, the bank has so far 214 branches with
automated Teller Machines (ATMs) in 34 cities including Karachi,
Hyderabad, Nawabshah, Larkana Sukkur, Quetta, R.Y.khan, Sadiqabad,
Bahawalpur, Multan, Sahiwal, Lahore, Wazirabad, Kamoki, Faislabaad,
Sargodha, Gujrat, Gujrawala, Sialkot, Jehlum,
Rawalpindi, Islamabad, wah, Haripur, Abbattabad, peshawaer, Nnushera, Murree and S
The Debit or Smart Card has also been added to the list of MCB products to further
the customers. MCB is also the host of MNET with 76 ATMs of 17 members making a to
tal network of 290 ATMs. From April 2004, two switches – MNET and 1‐
Link have established a joint network of over 670 ATMs in Pakistan.
The Bank 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 54 branches using SWIFT. Besides substantial saving in
cost, the use of this fast and secure communication technology has
enabled the Bank to provide quick and efficient service to its customers.

“Our vision is to be a leading financial institution and have largest network with
a niche in areas
where we have a competitive advantage With complete banking solutions. Our focus i
s on improving
performance in each of our businesses to achieve consistent and superior for our h
ighly valued customers and shareholders.”

“To become the preferred provider of quality financial services in the country
with profitability and responsibility and to be the best place to work.”

MCB is in its over 50 years of operation. It has a network of over 900 branches
all over the country with business establishments in Sri Lanka and Bahrain. The
branch break‐up province wise is Punjab (57%), Sindh (21%), NWFP (19%) and
Baluchistan (3%) respectively.

Principles of Performance
• Customer Focus Over the years MCB has developed strong relationships
its customers by understanding their needs and treating them with respect, dignity
and importance. The driving force behind its commitment and services is its focus
on customers, ensuring that it not only meets, but exceeds their expectations.
Quest for Quality MCB strives to achieve excellence by ensuring that
every moment of our time is
spent in adding value, making sure that we do things right, first time, and
every time. With this quest for quality, MCB has always taken
initiatives in bringing banking into a new arena; from cash to the
convenience of plastic; from branch banking to internet banking and
from face‐to‐face customer interaction to online accessibility.
Employees Respect MCB encourages diversity and treat each of our
employees with fairness. MCB gives constructive feedback for their
continuous development
and seek suggestions from all employees for further improvement. The bank ensures
that quality performance is acknowledged and rewarded and exercise
utmost responsibility in decision‐making with regards to our employees.
Team Based Approach MCB believes in achieving its Mission and Vision by
working together as a combined group. MCB treats its employees as its
customers and ensure that the requirements of internal customer focus are always
met. Equipped with in‐depth product knowledge, and recognizing the
strengths in each individual, the bank strives for optimum‐results from
our co‐workers and
bringing out peak performances by working towards common goals and objectives in
today's dynamic banking environment. Good Corporate Citizenship MCB seeks
to continuously improve the quality of life in our communities. The
bank realizes that it has a responsibility to the society in
which it operates and it seeks ways of playing a positive role for the betterment
of the community at large for a progressive environment, better living
and a brighter future.

The following are the objectives of MCB Bank Limited.


The first objective of MCB Bank limited is to create and manage the values, which
one of the back bone of the objective of any well organized and managed organizati


The second objective of MCB Bank is to take care of the Human capital, which is a
necessary thing for the development and prosperity of any well established organiz


The third objective of MCB Bank Limited is to make it a place, which is much feasi
and comfortable for employees of the bank. The MCB always conscious in developing
such place where employees of the bank feel easiness.

The forth objective of MCB Bank Limited is to bring new and latest technology in t
he operations of the bank. AT MCB, technology has a direct relation
with your needs; it is a means for creating value and convenience for
the customer. Over the last few years MCB
has invested heavily into strengthening its technology backbone. Today it is leadi
ng the way
in banking technology and setting new standards for the banking industry; penetrat
ing into
the local market, listening to the needs of the people and educating them of simpl
e financial products and services that create both value and
convenience. MCB’s strength lies in providing a technological base at
the grass roots level of the society with a challenge to
educate and assimilate such systems across vast cultural and economic backgrounds.
With over 768 automated branches, 243 online branches, over 151 MCB
ATMs in 27 cities nationwide and a network of over 16 banks on the
MNET ATM switch, MCB continuously
innovates new products and services that harness technology for the customer’s ben

Branch Network
Branch network has been divided into two business segments namely – Corporate & Re
tail. The consumer products are offered by both segments. The
segmentation is aimed at
providing customized service. MCB branch network is enclosed.
There are five overseas branches in the network, which are as follow:
Colombo, Sri Lanka Pettah, Sri Lanka Maradana, Sri Lanka Manama, Bahrain

MCB Bank has won many awards, which is a clear proof of its good performance. It h
as won Euromoney awards and Asia Money awards. Euromoney Awards
Best Bank In Pakistan Award 2006 Best Bank In Pakistan Award 2005
Best Bank In Pakistan Award 2004 Best Bank In Pakistan Award 2003
Euromoney Award 2003 for the "Best Bank in Pakistan".
Best Bank In Pakistan Award 2001 Best Domestic Bank Award 2000
Asia Money Awards • • The Best Domestic Commercial Bank Award 2005
The Best Domestic Commercial Bank Award 2004 • • • • • • •

Corporate Information

ORGANIZATIONAL STRUCTURE As MCB is a banking company listed in stock
exchange therefore it follows all the
legalities which are imposed by concerned statutes Mr. Muhammad Mansha is chairman
chief executive of the company with a team of 10 directors and 1 vice chairman to
help in the business control and strategy making for the company.
Operational Management of the bank is being handled by a team of 10
professionals. This team is also headed by Mr. Muhammad Mansha. The
operational departments are Consumer Banking & IT div; Financial & Inter branch di
v; Credit
management div; Commercial Banking div; Corporate Banking div; Treasury management
& FX Group and lastly Special Assets Management (SAM) Group. For effective
handling of branches, it has categorized into three segments with
different people handling each category, These categories are: a) b) c) A)
Corporate Banking Commercial Banking Consumer Banking CORPORATE BANKING:

These are branches which have an exposure of over Rs. 100 million. Usually include
s multinational & public sector companies. B) COMMERCIAL BANKING;

The branches which has a credit exposure of less than Rs. 100 million
but having a credit
portfolio of more than Rs. 20 million (excluding staff loans)
Usually branches in large markets and commercial areas come under this category.
These are the branches which have exposure up to Rs. 20 million and these include
all the branches, which are neither corporate nor commercial branches.

Recently the organizational structure was re‐designed as follows:
Corporate Consumer Commercial

20 branches

637 branches

383 branches

Punjab Sindh Nwfp Blochistan Azad Kashmir Domestic Overseas EPZ Total

632 232 123 34 19 1040 4 1 1045

Furthermore, the bank has some proposals under consideration to open

more branches in some European countries and as well as in Japan & China

Management of The Organization & Corporate Information
Board of Directors Mian Mohammad Mansha Chairman S.M.Muneer
Vice Chairman Tariq Rafi
Mohammad Arshad Shahzad Saleem
Sarmad Amin Mian Umer Mansha
Aftab Ahmad Khan Atif Yaseen
Mohammad Aftab Manzoor President & Chief Executive Advisor
Raza Mansha Audit Committee Mian Mohammad Mansha
Chairman Mian Umer Mansha
Member Aftab Ahmad Khan
Member Chief Financial Officer Ali Munir
Company Secretary Tahir Hassan Qureshi Auditors A.F.Ferguson & Co.
Chartered Accountants Riaz Ahmed & Co. Chartered Accountants

Legal Advisors Registered Office MCB Building, F‐6 / G‐6,
Jinnah Avenue, Islamabad. Principal Office MCB Tower
I.I. Chundrigar Road, Karachi. Registrar's and Share Registration Office
THK Associated (Pvt.) Ltd. Shares Department, Ground Floor,
Modern Motors House Beaumont Road, Karachi. Mandiwalla & Zafar
Advocates & Legal Consultants

Hierarchy of Management


Clerical Staff

Non‐clerical staff


Technical Staff
Dispatch Rider

Hierarchy at MCB Branch Network












The following is the Branch Network of MCB Bank Limited. Sector wise position of
circle, Consumer Sector 810 Branches

Area Head South 180 Branches

Area Head Centre 360 Branches

Area Head North 370 Branches

Commercial Sector 210 Branches

Area Head Karachi 40 Branches

Area Head South 45 Branches

Area Head Central Punjab 70 Branches

Area Head North 54 Branches

Corporate Sector 20 Branches

South Karachi 9 Branches

North Islamabad 3 Branches

Main Karachi 1 Branch

Central Lahore 7 Branches

Overseas Branches Total Branches

4 1045

I did my internship in MCB Bank Limited Dijkot Road, Faisalabad. Some important
information about my branch, which I observed, is as follows:



The branch is located at Dijkot Road, Faisalabad. The following departments are
situated at this branch: 1. Consumer Financing Department 2. Credit Department 3.
Accounts Department 4. Cash Department 5. Customer Service Department 6. Postage &
Dispatch Department

Business Operations & Services

Banking Sector Overview
Pakistan’s banking and finance sector grew by over 21 percent from July 2004‐ Marc
h 2005 amid the eight percent expansion in the services sector in Pakistan.
Financial sector in Pakistan is going through a fast‐paced transition
as new groups were buying out foreign banks’ operations in Pakistan.
The number of listed banks is also increasing. While the income from
core banking activity has increasing due to higher business volume,
earnings are also expected to improve due to ventures into consumer
finance, housing finance and enhanced lending to the agriculture sector.
In just four years the banking industry has expanded tremendously and now there ar
e more than two dozen commercial and investment banks operating in the
country. Commercial banks in the private sector had performed well
since their inception, registering overall
growth in the deposit base and profits. The banks also managed to maintain a healt
hy credit portfolio. Foreign banks have a strong presence in all major
cities and are targeting high net worth individuals and blue chip
companies. Their strategy is quite successful as they account for
about 34 percent of total sector profits, despite having only 15 percent of deposi
ts and 16 percent of advances.

MCB’s Performance Overview

The first half of 2005 was very promising for MCB, as the bank has achieved pre ta
x profits
of Rs. 4.2 billion, compared with Rs. 2.2 billion for the same period in 2004. Pro
fit after tax
has more than doubled compared to the corresponding period for 2004 and exceeds Rs
. 3
billion – highest ever profit in the history of MCB. This translates into earning
per shares of Rs. 7.43.
Advance and deposit increased to Rs. 156 billion and Rs. 241 billion reflecting a
growth of
14% and 10% respectively. Additionally the bank’s assets expanded by 16% during th
e half year ended 2005 and crossed Rs. 300 billion marks.
Bank’s equity (capital and reserves) increased by 41% during the half year, which
was due to the issue of right shares and retained earnings. Increase in
equity would improve the
lending limit and would provide the opportunity for significant growth of the bank
’s balance
sheet. This would also help to meet the capital requirement under Basel Accord II,
which will be effective from 2007.
Based on continuing growth and consistently outstanding performance, MCB has once
received the Euromoney Award 2005 for the “Best Bank in Pakistan”. MCB has become
only bank to receive the Euromoney Award for Excellence for the fifth time in last
six years.
In addition, Asia Money has also declared MCB as “The Best Domestic Commercial Ban
k in Pakistan” for the year 2005.
Fields of MCB Activities
The purpose of banks is to provide some services to the general
public. And for these
purpose different banks provide different services bank, in modern time commercial
play a very important role and their functions are manifold. The main functions an
d services which MCB BANK Limited provides to different peoples are as follows.
1) 2) 3) 4) 5) Open Different accounts for different peoples
Accepting various types of deposits Accepting various types of deposits
Granting loans & advances Undertaking of agency services and also general
utility functions, few of those are as under: a)
Collecting cheques and bill of exchange for the cuntomers. b) Collecting
interest due, dividend, pensions and other sum due to customers. c)
Transfer of money from place of place. d)
Acting an executor, trustee or attorney for the customers. ‘Providing safe
custody and facilities to keep jewellery, documents or securities. e) f)
g) h) i) For proper functioning of branches and the over all bank
has been divided in different
departments. These departments handle different jobs so that division of work is t
here for
improvement of functions and also it is easy to control the situation. The general
division in a branch is as follows: 1) 2) 3) 4) 5) Cash department
Deposit department Advance & credit department Foreign exchange department
Technology department (new addition in order to cop with the growing needs of
day to day technology requirements.)
Issuing of travelers cheques and letters of credit to give credit facilities to
travel. Accepting bills of exchange on behalf of customers.
Purchasing shares for the customers. Undertaking foreign exchange business.
Furnishing trade information and tendering advice to customers.

Cash Department
The following books are maintained in the Cash Department: 1. 2. 3.

Receiving Cash Book Paying Cash Book Cash Balance Book

When cash is received in counter, it is entered in the Scroll Book
and Receiving
Cashier Book. At the close of the day, these are balanced with each other.
When the cheque or any negotiable instrument is presented at counter for payment,
it is entered in the token book and token is issued to the customer. The token cle
rk and the
Cashier make entries in the paying book and payment Cashier Book are balanced.
The consolidated figure of receipt and payment of cash is entered in
the cash balance book and drawn closing balance of cash.
Opening Balance + Receipts – Payments = closing Balance.
This is very important department because cash is the most liquid asset and mostly
frauds are made in this department, therefore, extra care is taken in this depart
ment and
nobody is allowed to enter or leave the area freely. Mostly, cash area is grilled
and its door is under supervision of the head of that department. All
the books maintained in this department are checked by an officer.

Deposit Department
Bank deals in money and they are merely mobilizing funds within the economy. They
borrow form one person and lend to another, the difference between the rate of bor
lending forms their spread or gross profit. Therefore we can rightly state that de
posits are the blood of the bank, which causes the body of an
institution to get to work. These deposits are liability of the bank
so from point of view of bank we can refer to them as liabilities.
The total deposits of MCB are growing since is inauguration but after
privatization there is a sharp incline in over all deposits of the
bank. The increase in deposits is also a
cause of increase on total number of accounts; bank has progressed in both aspects

Account Opening:
Account opening is an agreement in which customer offers his funds
and bank
accepts these funds, therefore the nature of relation between a banker and custome
r is of a
contractual one and all the conditions applicable to this contract act are also ap

Procedure for Opening:

Procedure for opening of account is as follows:
A person, who wants to open any kind of account, has to fill in a printed form whi
is provided by the bank, free of cost. Separate account opening forms are used fo
r different types of accounts. Bank usually requires that new depositor
must be introduced by some one. An
introducer can be any person known to the bank but preferably it should be a custo
mer of
the bank. However, the manager can open the account by his own introduction.

If the manager is satisfied, it will obtain the full signature of
the customer‐ on the
form and specimen signature card, makes the first deposit, and issues the cheque b
ooks. The following are given to the customer:

Pay‐in‐slip is the proof of deposit. For every payment which is. To

be deposited in the bank, the pay‐in‐
slip is to be filled up. The object acknowledgment for receipt of money
to be credited this account. Cheque Book contains a number of cheques.
It enables a customer to make
withdrawal from this account or make payment of various parties by issue of cheque
. Pass Book is a copy of the customers account as appears in the

books of the bank. Balance is recorded in this book by the Clerk.

Clearing Department
Every banker acts both as paying as well as a collecting banker, It
is however an
important function of crossed cheques. A large part of this work is carried out th
rough the bankers clearing house.
A clearing house is a place where representative of all banks of the city get toge
and settle the receipts and payment of cheques drawn on each other. As the collect
ing banker runs certain risks in receipt of their ownership the law
has provided certain protections t the banks.
The Negotiable Instrument Act, 1881, lays down hat drawer or holder of a cheque or
draft may cross the instrument generally or specially. It further lies down that
a crossed cheque can only be paid to a banker, who collects it for a
customer in good faith and without negligence.

Advances Department
Advances are the most important source of earning for the banks. MCB is also givin
g full attention towards this aspect and it is also obvious from the
growing portfolio of
advances and from very low delinquency rate. The credit portfolio of this institut
ion is in
a very much better shape than other financial institutions of Pakistan and the cre
dit goes
to the management and the staff who are concerned about the quantity and quality a
s well. 1) 2) 3) Loans Cash Credits Overdraft.



Loans are monetary assistance be a financial institution to a business, individual

The loans are granted by the bank in lump sum, so these types called fixed or dema
nd loans. Interest is charged on the whole amount of a fixed loan.

The borrower withdraws whole the amount of loan. This type of loan
is normally granted against security of gold documents.
In case of demand loans against gold or documents, a demand promissory note for
the amount of loan is taken from the borrower loans are granted under; A)

Loan Against Gold:

Under this type of loan, which is granted to the borrower the Head Cashier estimat
the value of Gold or Gold ornaments through an agent (Gold smith) and keeps a marg
in of
40 to 50 percent. After the opening the gold loan account a token is given to the
borrower, which is a bank receipt.
On repayment of loan, the gold or ornaments held as security for it, together with
the demand promissory note duly discharged is returned to the borrower and his re
ceipt for
the gold ornament taken in the demand loan ledger. This receipts states that he or
naments returned are complete and in order. Part delivery of ornaments
is given against part
payment of a loan but care is taken that the ornaments still in banks possession f
ully covers
the balance of the loan outstanding. The interest gold loan is to be applied with
quarterly. B)

Loan Against Pledged of Stock:

In case of advancing such types of loans, the following precautions are dept in th
e mind: i) ii) iii) Requirement for Loan:
For granting loan to any party or individual, the bank checks following particular
s of the client: 1) 2)
By Credibility, bank Judges the credibility of the client by his past bank record,
CBI report etc. it is very important in making decision about giving him loan.
Feasibility report is on the running or proposed business of the
client. The report
enables the bank to judge the likely return of the business. 2) Cash Credit
Credibility Feasibility Report Stock pledged must be readily saleable
Products should be readily saleable Advance should be within the borrows means

Consider such cash account is opened in the name of the customer who borrows from
bank. Customer is granted a loan up to a certain limit, sanctioned by the head off
ice, from
which he can draw when he requires and interest is charged on the amount actually
by the customer. In order to avoid the danger of idle fund, the bank charges a cer
tain rate of
interest by the bank on cash credit in 46 paisa per thousand on daily basis.

a. b. c. d. Receiving the instruments deposited by customers
Posting the amount of instruments in credit of customer’s account
If cheque returns from the concerned bank, the customer account is debited.
Crossing stamp is put on the instrument and slip given to customer on receipt of
the instrument. Clearing stamp and “payee account credited” are put on
the instrument and the voucher.

As we know that, one of the basic economic functions of commercial banks is

to receive deposits and to honor cheques drawn upon them. So, cheque
is a most commonly used instrument for making payments by account
holder. Along with the cheques, there are some other negotiable
instruments like PO, DD, TC, PS, CDR etc.
(discussed in the next part) that are used for making payments and are drawn upon
a bank.
The question arises that how these cheques & other negotiable instruments
drawn on one bank are deposited in other banks and money is transferred from one b
ank to another. Clearing House has provided this facility.
Clearing house facilitates different
banks, on one city, to get their cheques drawn upon other banks to be cleared.
Cheques lodged in clearing constitute two types of clearing: Outward Clearing
Inward Clearing

Lodgement of Cheques In Outward Clearing

When cheques, TC’s and other negotiable instruments drawn upon their banks like MC
AMRO of the same city (as Lahore) is presented in MCBBANK LIMITED Ltd. To deposit
them in the respective payee’s accounts, these instruments are lodged in outward c
learing (o/w clg) of MCCBANK LIMITED.

Clearing Stamp:
After the cheques have been crossed specially, clearing stamp is put
on the cheques and other instruments, with the following day’s date,
as these cheques should have to be
presented in their concerned drawee banks on the subsequent day.

Endorsement Stamp:
The word endorsement is derived from Latin word ‘indorsum’ which means ‘on the bac
Ordinarily, it means anything written or printed upon the back of an instrument.
So, at the end, the cheques are endorsed in full (endorsed specially) by putting t
stamp with words describing “Payee’s account Credit5ed in BAL Circular road, Lahor

After putting these three stamps on cheques & other negotiable. Instruments, they
are sent to NIFT (National Institutional Facilitation Authority) with
Add List. NIFT after
segregating the cheques of different banks delivers them to their concerned banks,
which constitute the inward clearing for those drawee banks.

Accounting Procedure:
After lodgment of all cheques in outward clearing, Payee’s accounts are
credited by the amount of their vouchers. Drawee banks will debit the
drawer’s accounts in their inward clearing (discussed later).
As main branch Lhr. Of BAL deals with other banks through inter‐bank accounts and
we deal with our main branch. So, we (BAL Circular road) debit our
main Br. Account, maintained with us, by the total amount of outward
clearing and an IBDA (inter branch
debit advise) with a debit voucher is sent to main branch Lhr.
Local Clearing Main branch Payee’s Account Debit Credit

Return In Outward Clearing:

Some of the cheques lodged in o/q clearing are dishonored by the
branches due to some deficiencies and returned back through NIFT. This process is
carried out under main branch’s governance.
Either, these cheques are again lodged in outward clearing or returned to customer
s by canceling bank’s all stamps, based on the reasons. Now, the accounting
entries opposite to first are passed i.e. Payee’s accounts are
debited & main branch’s account is credited.

Inward Clearing
Cheque and other negotiable instruments (PO, DD, PS, CDR etc.) drawn on MCBBANK
LIMITED Circular Road, sent by other banks, constitute the inward clearing of BAL.
After having all the stamps and dates of cheques confirmed, the concerned drawer’
s accounts are debited (in BAL Circular Road) and main branch’s
account is credited by the total amount. DEBIT Drawer’s Accounts
CREDIT Local Clearing Main branch

Credit Department
In the credit department, the loans are issued only on the commercial basis, means
the loans are given to companies, partnerships and the sole
proprietorships. The
loans are issued against some securities and on a markup specified by the policies
of State Bank of Pakistan.
The branch has to send the reports about all types of customers and loans to the
head office. The branch can not take a decision to issue the loan to
any client
without prior agreement from the head office. The branch can only recommend to
grant or not to grant the credit to any client. The decision of the head office in
case of any issue is final.
The branch hires the services of different credit information service providers
to evaluate the financial position and the expected repaybility of the client.
The branch by itself prepares an eligibility score sheet to recommend to grant
or not to grant the credit to a particular customer.

Types of Credit At The Bank

Bank provides different credit facilities to its customers, in form of short‐

term credit. Following are the credit facilities that the customers
usually avail to meet their requirements.

This is the most common form of bank lending. In overdraft facility,
a customer is allowed to withdraw on his account in excess of the
balance that the borrowing customer has in credit. So, when a customer
withdraws in excess of his balance, an overdraft occurs (balance
becomes in debit). Overdraft facility can be availed for a certain
limit called OD limit and is used to meet the seasonal
requirements of cash.

Letter Of Credit

Letter of credit, whether sight or usance, is a non‐

fund based facility provided to the customers. L/C has already been
described elaborately in trade finance

section. Securities for Advances

No doubt, the advancing of credit involves a great risk for the
bank. Therefore, to cover this risk, the bank keeps different tangible
and non‐tangible securities, before sanctioning the credit facility to a
customer. The bankers prefer
such securities that carry less risk of depreciation due to market fluctuations an
d are easily saleable, even under changing market conditions.
Common securities against banker advances are as under:
Pledge is the actual delivery of the movable & tangible property to the
lender, as a security for a credit. In a pledge, the possession of movable assets
is with bank but the ownership remains with the client. Pledge is
against short‐term finances and is considered to be the best security
for the bank. The commodities
that are pledged include generally, raw material, consumables, finished good and i
n Certain Cases Work In Process (WIP).

Trade Finance Department

Though I did not work in the trade finance department, but I had got the knowledge
the international trade and the banking procedures for the handling of internation
al trade finance.

Import Operations
Valid city markets have usual importance regarding import operation
and are
considered as business and commercial hub of imports in Lahore. MCB Bank Limited C
ircular Road Lahore for being situated in such an area has great (2nd
largest in BAL) volume of foreign trade, especially imports.
The process of imports starts with the establishment of letter of credit. Before g
oing into the details of this process. I have tried to described the
letter of credit (L/C) and its basic aspects.

Letter of Credit
International trade involves numerous factors such as payment for
imports in the exporter’s country; shipment of goods within the
limitations prescribed and difficulties of
enforcing legal rights in the foreign country etc. Therefore, to overcome these im
a system has been enforced, this system is represented by ‘Letter of Credit’.
The letter of credit is today the foremost way of financing
international trade. In
simple words, a letter of credit (L/C) can be defined as:
“A bank’s written undertaking given to the exporter for payment of a certain sum o
money on behalf of the importer provided the exporter tenders to the bank, or its
overseas agents, the specified document within a specified period in
accordance with the terms of the undertaking”.
There are four basic parties involved in an L/C: 1) 2) 3) 4)
Other parties involved in L/C procession will be discussed in subsequent sections.

Importer Issuing Bank Exporter (Beneficiary) Beneficiary’s Bank

Export OPERATIONS During the two weeks in trade finance department,
I was much desirous to know
that how the export transactions are carried out through bank, along with the impo
rts. The
export transactions in BAL Circular Road were not of such extensive nature as impo
rts due
that specific area. So the processing of a normal export transaction has been disc
ussed. Conditions for Exporter:
Like an importer, there are certain conditions that a person must fulfill to becom
e an exporter. 1) The person must be an account holder of BAL. 2)
No one can export any commodity until and unless he/she is a Pakistani and has a
valid export registration with the EPB. 3) The person must process a valid
membership certificate of Trade Organization,
licensed and recognized by Federal Government like a Chamber of Commerce (e.g.
Lahore Chamber of Commerce). 4)
The person must possess a valid NTN (National Tax No.) certificate. 5)
A person cannot export any good unless he files a Form E (E stands for exports) wi
his application to the bank. The form E must be filled in writing and all specific
ations stipulated on the form, must be met. 6)
The person must have the Sales Tax Registration Certificate.
Technology Department
Technological advancements are also affecting the banking industry. The foreign ba
nks have
a competitive edge over all local banks in their technologies’ advancements and au
systems. Local banks have also realized the gravity oil this situation and are str
iving to add computerized systems to their branches.
MCB is ahead of all other local banks in this field and now it is in a position to
compete with foreign banks. There are more than 1045 branches of MCB all over Paki
and out of these more than 300 branches are fully computerized Almost all the bran
ches of big cities are computerized; therefore, the need for a
technology department at each
branch is growing. Now a day, a computer division is working in each city to provi
de service to add the branches of that area.

MCB has also introduced the now concept of online banking. There are now more
than 250 branches linked through this system and they can transact with each other

using computer systems at their own branches. Now customers do not have to wait lo
ng for
their transactions and can operate their account through all the online branches.

ATM Network:
ATM stands for Automatic Teller Machine. This machine is used to transact in one’s
account without intervention of humans. These machines are basically
used for taking cash,
confirming balances and requesting statements/Cheque books.

MCB Marketing Mix Products / Services

Due to trend setting and innovative banking, MCB Bank presents a range of quality
products with revolutionary perks and convenience. MCB provides a wide
range of products/ services to its customers, which can be compared
with any foreign, or national bank in terms of quality and reliability.
Here is an overview of different products and services formulated by MCB Bank

Accounts Offered By MCB

One of the basic function of a commercial bank is to receive deposits and to honou
cheques. Accounts offered by the banks for the deposits of customers constitute th
e basis of
their operations and develops the basic relationship between a banker and customer
. The largest network of over 315 on‐line branches in the country and growing.
Providing customers with 24 * 7 real time online transaction facilities.

Full Day Banking:

Enjoy the convenience of extended banking hours from 9 to 5, even
on Saturdays, for satisfying your banking needs at all MCB Full Day Banking
branches across the country where you are now served with a wide
range of services throughout the day.

MCB has provided the nation's largest operating switch with the highest
volume in the form of MNET. MNet is basically MCB’s Network for Electronic Transac
tions; it is an electronic hub for ATM sharing plus other touch points.
MNET enables all the member banks (members of Muslim Commercial bank)
to share
their electronic networks. This means customers of all member banks can use each o
ther's ATMs. ATM machines of MNET member banks accept cards issued by: •
MCB Bank • Citibank • Standard Chartered • HSBC • Bolan Bank •
Bank of Punjab • Prime Commercial Bank • Saudi Pak Bank Limited •
Habib Bank AG Zurich • Metropolitan Bank • Bank of Khyber • American Express •
KASB • My Bank Ltd • NDLC‐IFIC Bank Ltd
MNET customers can use over 600,000 ATMs worldwide that carry the Cirrus logo and
shop at over 5 million outlets (POS) that carry the Maestro logo

MCB ATM (24 Hour Cash): The nation’s largest network of over 210 ATMs and growing.
Get 24‐hour convenience of cash withdrawal; mini‐statement, bill payment
and funds transfer services.

MNET is an electronic hub for ATM sharing plus other touch points.
Members include 12 local financial institutions enjoying ATM sharing and
bureau services. Pakistan’s largest
operating switch with the highest transaction volume.

Mcb Smart Card:

MCB Smart Card‐ a secure instrument of payment, offering Cash Free

convenience. It provides 24‐
hour direct access to your bank account and unmatched functionalities.

MCB Mobile:
Banking at your fingertips. Dial in anytime to get information
regarding balance and mini statements.

Pyara Ghar
MCB Pyara Ghar is an idea Home Finance product that lets you
purchase, renovate or
construct your home the way you have always wanted. Financing available is up to 2
0 years for amount up to Rs. 20 million.

Islamic Banking Services

MCB Islamic Banking provides Riba Free and Shariah Compliant solutions to various
customer segments in a growing number of cities. With the help of
Shariah specialists,
lawyers and professional commercial bankers, we have the best solutions to cater t
o your needs‐ the Islamic way.

MCB Lockers

The best protection for your valuables. Lockers of different capacities are availa
ble nationwide.


Personal Banking
Deposit Accounts
• Khushali Bachat Account
Khushali Bachat Account, a Rupee savings account is one of MCB Bank’s most
popular products. Due to the low initial deposit, the account can be
opened by people from all walks of life and still avail the facility
of daily product profit calculation. • Mahana Khushali Bachat MCB Monthly
Khushali Scheme provides you with a steady income every month. Just
purchase a Monthly Khushali Certificate and you will enjoy a steady
income of your total deposit every month. • Pak Rupee Savings Account
MCB’s Pak Rupee Savings Account offers you attractive returns on your Pak
Rupee investment.
In addition, you have access to a countrywide ATM network convenient cash
accessibility 24 hours a day. The facility also provides you with
unlimited daily transactions with a limit on maximum withdrawal amount
through the ATM machines. • Pak Rupee Current Account MCB’s Pak Rupee
Current Account offers you the convenience of unlimited
withdrawals i.e. access to your funds whenever you want without any notice. There
is no limit on the number of transactions you make in a day plus
you can avail finance facility up to 75% of the total deposit.
In addition, you have access to a countrywide ATM network convenient cash
accessibility 24 hours a day. The facility also provides you with
unlimited daily transactions with a limit on maximum withdrawal amount
through the ATM machines.

• Pak Rupee Term Deposit
MCB Pak Rupee Term Deposit gives a higher rate of return. It gives you choice
of 1 month, 3 months, 6 months, 1 year, 2 years, 3 years, 4 years and 5 year term
deposits. • Saving 365
The MCB Saving 365 calculates profits on a daily product basis and gives you
the facility of unlimited withdrawals.

Foreign Currency Savings Account

• Foreign Currency Savings Account
MCB’s Foreign Currency Savings Account offers you attractive returns on your
Foreign Currency investment.
You can invest in any of the four currencies i.e. US Dollar, UK
Pound Sterling, Japanese Yen or Euro Your foreign currency account is
exempted from Zakat and withholding tax • Foreign Currency Current Account
MCB’s Foreign Currency Current Account offers you the convenience of
unlimited withdrawals i.e. access to your funds whenever you want
without any
notice. There is no limit on the number of transactions you make in a day. •
MCB Foreign Currency Term Deposit
MCB Foreign Currency Term Deposit gives a higher rate of return. It gives the
choice of 1 month, 3 months, 6 months, 1 year, 2 years, 3 years, 4 years and 5 yea
r term deposits. • Dollar Khushali Account
The Dollar Khushali Account, a Dollar based account was introduced in 1993 at
selected MCB Bank branches. Today, you can open a Dollar Khushali
Account at over 200 branches in Pakistan.

Loan Products
• MCB Business Sarmaya “MCB Business Sarmaya” is the best Running Finance
facility against your
residential property which empowers you to manage your business dealings better.
So act today and get MCB Business Sarmaya and thus improve your business, avail
lucrative opportunities and expand your business, with absolute satisfaction of ca
sh flows. • MCB Car4u Life is like a chess board. You plan your
career options. You analyze your
business moves. But when you really want to improve your life, you make a power
move. MCB CAR4U Auto Finance is the power move that assists you in
more ways than you ever imagined. It is affordable, with lowest mark
up, flexible conditions, easy processing and above all, no hidden costs. •
MCB Pyara Ghar
Some destinations require a long wait. Like waiting for a home of your own.
But with MCB Pyara Ghar it is now easy to step into your home and start living a r
eal life. MCB Pyara Ghar is an ideal Home Finance from your own bank
that lets you Purchase, Renovate or Construct your home the way you
have always wanted. Having your own home was never so easy •
Easy Personal Loan MCB Easy Personal Loan provides you with the
financial advantage to do things you've always wanted to but never had
the sufficient funds for. Take that much‐
needed holiday. Buy a car. Refurnish your house. Purchase a new TV. Finance
a better education for your children. • MCB Master Card
Since the beginning of time, people have tried to find more convenient ways
to pay, from gold to paper money and cheques. Today, money is moving away from
distinct hard currencies and towards universal payment products that
national borders, time zones, and, with the Internet, even physical space. Plastic
or "virtual" money, credit, debit, and electronic cash products,
inevitably will replace cash and cheques as the money of the future.

MCB Rupee Traveler's Cheques
MCB Rupee Traveler's Cheques were first introduced in 1993 as safe cash for travel
ing and
travel related purposes. The product has been extremely popular and is preferred o
ver cash by customers while traveling and in all walks of life.
MCB Rupee Traveler's Cheques‐ The safest way to Carry Cash

Corporate Banking
• Cash Management Services MCB’s network of over 900 branches in Pakistan
enables it to collect and disburse
payments efficiently with its cash management services. This also enables it to of
fer you a choice of paper based or electronic fund transfer solutions
including collection amounts, cross branch on‐ line transactions etc. •
Working Capital Loans

Based on the customer’s specific needs, the Corporate Bank offers a

number of
different working capital financing facilities including Running Finance, Cash Fin
ance, Export Refinance, Pre‐shipment and Post‐ shipment etc. Tailor‐ made
solutions are developed
keeping in view the unique requirements of your business. • Term Loans

MCB offers Short to Medium Term Finance to meet capital expenditure

and short
term working capital requirements of our customers. The loans are structured on th
e basis of underlying project characteristics and cash flows of the business. •
Trade Finance Services

Under Corporate Banking MCB offers trade finance services that include
an entire range of import and export activities including issuing
Letters of Credit (L/Cs), purchasing
export documents, providing guarantees and other support services.

Online Services
• MCB ATM Services
With a solid foundation of over 50 years in Pakistan, with more than 750 automated
branches, 269 online branches, over 222 MCB ATMs in 41 cities nationwide and a ne
twork of over 12 banks on the MNET ATM switch, MCB is positioned at
the forefront of the
banking industry in Pakistan. This success has been possible because of a never‐
ending drive
to achieve higher levels of excellence, constantly striving to raise the level of
performance. • MCB Mobile Banking

At the forefront of technological excellence, MCB proudly introduces MCB

MOBILE BANKING. The convenience of accessing your account balance
information and mini
statements whenever you want or wherever you may need them, with comfort and peace
of mind.

MCB Call Center

Keeping up with banking services can be tedious but not with MCB
Bank, where phone
service is at your fingertips. Just dial our Call Centre from the comfort of your
home or office or wherever you happen to be. It offers basic banking
services for your convenience,
eliminating the need for you to make unwanted trips to your branch. •
MCB Smart Card

MCB now brings you MCB SmartCard ‐a secure and convenient instrument of payment wi
th unmatched functionalities. It provides 24‐
hour direct access to your bank account. The convenience and flexibility of
MCB SmartCard will help you live a smarter life. It not
only helps you manage your expenses, but also eliminates undue interest on your da
y to day credit card transactions. Your balance is always within your
reach and you spend accordingly. • MCB Debit Card

Now MCB brings a secure, convenient and quick payment facility that
enables you to do
purchasing by using your existing MCB ATM / MCB Smart Card as a DEBIT CARD. •
Virtual Banking

MCB Virtual Internet Banking offers you the convenience to manage and
control your banking and finances – when you want to, where you want
to. MCB’s Virtual Internet
Banking facility is simple and secure. And its free of cost. With MCB Virtual Inte
rnet Banking
you can access any of the banking services, 24 hours a day, 7 days a week and thro
ughout the year.
MCB Virtual Internet Banking offers a wide range of online services which makes yo
ur banking accessible anytime and from anywhere.
Detailed Account Summary of all listed accounts. Mini‐
statements of each of the listed accounts showing recent
transaction history for that account(s). Statement‐by‐
Period of each of the listed accounts, based on the period specified.
Immediate or Scheduled Transfer of Funds between your own accounts,
as well as to third‐party accounts setup as beneficiaries, maintaining
accounts with MCB. Scheduling of ‘One‐
Time’ as well as ‘Recurring’ Funds Transfers.
Payment of utility bills for registered Utility Companies.
Immediate or Scheduled Bills Payment. Scheduling of ‘One‐Time’ as well
as ‘Recurring’ bill payments. Option for ‘Full’ or ‘Partial’ payment based
on the payment conditions specified by a particular Utility Company.

Bulk Salary Transfer for Corporate Customers, to facilitate them in paying
salary to the corporate employees, who maintain accounts with MCB.
Bulk Funds Transfer for Corporate Customers.
Cheque Book Request for any of your listed accounts.
Payment/Transfer Alerts for reminding, in advance, prior to the
processing of specified payments and transfers.
Personal Alerts for reminding of pre‐specified events and occasions.

Islamic Banking
Deposit Schemes
For customers who are looking for a deposit opportunity where they can purse their
funds and reap halal returns on it, we offer the following products: o Al‐
Makhraj Saving Account o Al‐Makhraj Ianat Account o Al‐Makhraj Term Deposit
Fund Based Facilities Ijarah Products
MCB’s Islamic Ijarah, analogous to the English term 'leasing’, is based on the ‘Ij
wa Iqtina’ concept which means the sale of the asset to the lessee after the Ijara
h has matured. Under this scheme, MCB will be the owner of the
asset, and the
customer (lessee) will be given the asset to use for a certain period of time in r
for monthly rental payments. MCB will give a separate unilateral undertaking that
it will offer to sell the asset to the customer (lessee) at the
maturity of the Ijarah
agreement at a price that may be equal to the security deposit amount, hence the
term ‘Wa Iqtina’. • Types of Ijarah o Car Ijarah o Equipment Ijarah

Financial of MCB

Balance Sheet As at December 31, 2008
cash and balances with treasury banks balances with other banks
lending’s to financial institutions investment‐net advances‐net
operating fixed assets deferred tax assets‐net other assets‐net
Liabilities Bills payable borrowings deposits and other accounts sub‐
ordinate loan liabilities against assets subject to finance lease
deferred tax liabilities‐net other liabilities Net assets
Represented by: Share capital Reserves Unappropraited profit
Surplus on revaluation pf assets‐net of tax 2006 2007 39683883 3807519
1051372 113089261 218960598 16024123 0 17868761 410485517 10479058
39406831 292098066 479232 0 1180162 11722493 355365842 55119675
6282768 34000638 5130750 45414156 9705519 55119675 2008 Rupee's in 000
39631172 4043100 4100079 96256874 262510470 17263733 0 19810476 443615904

32465976 6577017 21081800 63486316 198239155 9054156 172373 11031450 342108243

7089679 23943476 257461838 1597440 0 0 11171496 301263929 40844314

10551468 22663840 330274155 0 0 437137 21253250 385179850 58436054

5463276 24662426 5530973 35656675 5187639 40844314

6282768 36768765 9193332 52244865 6191189 58436054

Profit and Loss Account For the year ended December31, 2008. Mark‐
up/ return / interest earned Mark‐up/ return / interest expensed Net mark‐
up/ interest income Provision for diminution in the value of investments‐net
Provision against loans and advances‐net Bad debts written off directly
Net mark‐up/ interest income after provision Non mark‐up/ interest income
Fee, commission and brokerage income Dividend income
Income from dealing in foreign currencies Gain on sale of securities‐net
Unrealized loss on revaluation of investments
classified as held for trading Other income‐net Total non‐mark‐
up/ interest income Non‐mark‐up/ interest expense Administrative expenses
Other provisions/ (reversal)‐net Other charges Total non‐mark‐
up/ interest expense Extra ordinary/ unusual item Profit before Taxation
Taxation ‐ Current year ‐ Prior years ‐ Deferred
Profit after Taxation Unappropriated profit brought forward Transfer from
surplus on revaluation of fixed assets‐net of tax
Profit available for appropriation
Basic and diluted earnings per share ‐ after tax

2006 25778061 4525359 21252702 121197 1014540 47000 1182737 20069965

2311235 811801 692010 605865 570505 4991416 25061381 6482592 11411
66708 6560711 0 18500670 5701443 593497 63332 6358272 12142398 4990260

2007 31786595 7865533 23921062 105269 2959583 199 3065051 20856011

2634610 632300 693408 1500865 ‐13105 1000149 6448227 27304238
5426116 ‐3743 573830 5996203 0 21308035 6442356 ‐1294473 894590
6042473 15265562 5530973 11855

2008 40043824 11560740 28483084 2683994 1335127 0 4019121 24463963

2866729 617554 727564 740429 ‐103198 942362 5791440 30255403 7546878
10120 830839 8387837 0 21867566 7341257 ‐864824 16533 6492966 15374600
5130750 21319

5022426 5542828 5152069 17164824 20808390 20526669 23.4 24.3 24.47

Balance Sheet
Vertical Analysis

Balance Sheet As at December 31, 2008 cash and balances with treasury banks
balances with other banks landings to financial institutions investment‐net
advances‐net operating fixed assets deferred tax assets‐net other assets‐net
Liabilities Bills payable borrowings deposits and other accounts sub‐
ordinted loan liabilities against assets subject to finance lease
deferred tax liabilities‐net other liabilities Net assets
Represented by: Share capital Reserves Unappropraited profit
Surplus on revaluation pf assets‐net of tax

2007 39683883 3807519 1051372 113089261 218960598 16024123 0 17868761

410485517 10479058 39406831 292098066 479232 0 1180162 11722493
355365842 55119675 6282768 34000638 5130750 45414156 9705519

2008 39631172 4043100 4100079 96256874 262510470 17263733 0

19810476 443615904 10551468 22663840 330274155 0 0 437137
21253250 385179850 58436054 6282768 36768765 9193332 52244865
6191189 58436054

2007 % 9.67 0.93 0.26 27.55 53.34 3.90 0.00 4.35 100.00 2.95
11.09 82.20 0.13 0.00 0.33 3.30 100.00

2008 % 8.93 0.91 0.92 21.70 59.18 3.89 0.00 4.47 100.00 2.74
5.88 85.75 0.00 0.00 0.11 5.52 100.00

Profit and Loss Account Vertical Analysis
For the year ended December31, 2008. Mark‐up/ return / interest earned Mark‐
up/ return / interest expensed Net mark‐up/ interest income
Provision for diminution in the value of investments‐ net
Provision against loans and advances‐net Bad debts written off directly
Net mark‐up/ interest income after provision Non mark‐up/ interest income
Fee, commission and brokerage income Dividend income
Income from dealing in foreign currencies Gain on sale of securities‐net
Unrealized loss on revaluation of investments
classified as held for trading Other income‐net Total non‐mark‐
up/ interest income Non‐mark‐up/ interest expense Administrative expenses
Other provisions/ (reversal)‐net Other charges Total non‐mark‐
up/ interest expense Extra ordinary/ unusual item Profit before Taxation
Taxation ‐ Current year ‐ Prior years ‐ Deferred
Profit after Taxation Unappropriated profit brought forward Transfer from
surplus on revaluation of fixed assets‐ net of tax
Profit available for appropriation
Basic and diluted earnings per share ‐ after tax

2007 31786595 7865533 23921062 105269 2959583 199 3065051 20856011

2634610 632300 693408 1500865 ‐13105 1000149 6448227 27304238
5426116 ‐3743 573830 5996203 0 21308035 6442356 ‐1294473 894590 6042473
15265562 5530973 11855 5542828 20808390 24.3

2008 40043824 11560740 28483084 2683994 1335127 0 4019121 24463963

2866729 617554 727564 740429 ‐103198

2007 100 24.745 0.3312

2008 100 28.87 6.7026 3.3342 0 61.093 49.499 10.663 12.563 12.785 ‐
1.7819 16.272 100 49.087 0.0658 5.404 54.556 0 142.23 47.749 ‐5.625 0.1075
42.232 100

9.3108 0.0006 65.613 40.858 9.8058 10.753 23.276 ‐ 0.2032 942362 15.51
5791440 100 30255403 7546878 35.545 10120 ‐ 0.0245 830839 3.759
8387837 39.279 0 0 21867566 139.58 7341257 42.202 ‐864824 ‐ 8.4797 16533
5.8602 6492966 39.582 15374600 100 5130750 21319 5152069 20526669
Ratio Analysis
Ratio Analysis is an important and age‐old technique of financial
analysis. Ratios are important and helpful in the reference that:
These simplify the comprehension of financial statement and tell the whole story o
f changes in the financial conditions of the business. These provide data
for inter‐firm comparison. The ratios highlight the factors
associated with successful and unsuccessful firms, also reveal strong and weak fir
ms. These help in planning and forecasting, these can assist management
in its basic functions of forecasting, planning, coordination and control.
These help in investment decision in case of investor and lending decision in case
of Bankers etc. However, the ratios are only indicators, they cannot be
taken as final regarding good and
bad financial position of the business other things have also to be seen.

Key Ratios
1. RETURN ON EQUITY N.P.A.T * 100 Shareholder equity 2008
2007 = = 29.42% 33.61%

2. RETURN ON ASSETS: N.P.A.T * 100 Total Assets 2008 2007

= = 3.60% 4.60%

No. Of outstanding shares 2008 2007 = 24.47% 24.30 %

4. RETURN ON DEPOSIT: N.P.A.T * 100 Total Deposit

2008 = 2007 =
4.65 % 5.22 %

5. CASH/DEPOSIT RATIO: Cash Total Deposit

2008 = 2007 = 11.99 % 13.58 %


Total Income 2008 = 2007 =
87.36 % 83.13 %

7. NET PROFIT MARGIN: N.P.A.T * 100 Total Income
2008 = 33.54%

2007 = 39.92 % 8. AVERAGE PROFIT PER BRANCH:

Profit Net No. Of Branches 2008 =
Rs. 14,984,990.25 2007 = Rs. 14,878,715.4

9. OPERATING EXPENSE RATIO: Non markup expense Gross income

2008 = 27.72 %
2007 = 21.96 %

10. TOTAL ASSET TURNOVER: Interest/markup earned*100 Total asset

2008 =

9.02 % 7.74 %

2007 =
11. RISK ASSETS TURNOVER: Net interest income after provision
Risk assets 2008 = 65.98 %
2007 = 68.11%


Total deposits 2008 = 79.48 %
2007 = 74.96 %

13. DUE FROM BANK TO DUE FROM BANK: Landing to financial institution* 100
Borrowing from financial institution 2008 =
2007 =

18.09 % 2.66 %
Swot Analysis

Strengths • • • • • • •
MCB is the first Pakistani privatized bank and because of its quality management,
innovation in products and services. Owing to all such factors they have establish
ed a good
reputation in the banking market. The name of MCB makes you recall the highly coop
and professional individuals ready to serve you with maximum zeal and zest.
MCB have faster banking services that are making it more prominent in the banking
industry especially in operations and Foreign exchange. The customer
prefers this bank not only
because of its faster speedy service rather due to reasonable service charges.
MCB in Pakistan is the also in the list of highly automated banks like Emirates be
cause of its
modern style of banking through fully computerized control and twenty four hour ba
nking. The joining of experienced people, advanced management, advance
setup and facilities gave MCB an edge over its competitors. Weakness • • •
Staff is not sufficient Too much workload on one person Though innovation and
technological products have been introduce not fully
equipped with latest technology Innovative products New technology
High customer satisfaction Best possible customer facilities
Branches almost every where in Pakistan Fast and efficient system
Has the potential to provide better services.

The majority of people are not well aware about the products of MCB. Therefore it
should advertise extensively especially RTC and Master Cards.
A behavior has been noted that bank tries to feel at ease with good
looking, rich and
educated people and the poor looking customers feel some bit strange in the enviro
nment of the bank. The bank employees should try to accommodate
behaviorally all type of customers. In MCB there is lack of
specialized skill because of job rotation policy of human resource
department. The bank should concentrate upon increasing its abilities on individua
l service basis
Mismanagement of time is another big mistake in MCB branches, the bank official ti
me of
closing is 5:30pm but due mismanagement of time allocation and work the staff is n
ormally on their seats till 7:00 or 8:00 clock. Opportunities •
Can move far ahead from the competition because it has a lot of potential. •
If the branches are fully equipped with new technology. It can gain even more. •
Can become the leading exemplary bank of Pakistan.
As on December 31, 1998, sixty‐eight scheduled banks with 9,106 branches are opera
ting in Pakistan. As on this date, total population of Pakistan is
140.03 million. Total number of personal accounts with all scheduled
banks as on December 31,1997, are 28.98 million. If we consider the
population statistics of working age group as on December 31,1997, it
stands to the figure of 96.64 million. Thus we can say those 28% of working age pe
ople of Pakistan are having accounts with banks while 72% are unbanked. The
need of privatization has made people to switch to banks to satisfy
their needs of
lending and borrowing. This not only increases the deposits but also the credit bu
siness. Threats • Unstable economy • Local competitors •
Non availability of sufficient staff in branch
Change in government policies has affected the banking business. Still banks have
to wait to
get permission of state bank. The freezing of foreign currency accounts is a vital
example of letting people not to trust on banks.
The Competition has become severe by the entrants of so many banks, So to exis
t one will
have to prove himself in its services through excellent management and will have t
o satisfy its shareholders. Otherwise he will be out the market. The
decrease purchasing power of consumer in the current economic situation
of the
country affecting the business activity speed too much and the result is the low i
from the investors in new projects can create problem for the bank because it is w
orking a lot in trade.

MCB’s Competitive Strategies
To be competitive the Bank has further reinforced its position in the
Consumer Banking arena by streamlining and re‐launching the consumer
financing products and introducing more convenience based solutions. With
the re‐launch of auto finance and house finance products, the Bank
pushed the products with full thrust. The Bank has also launched a
running finance facility against mortgage of property. Technology continued to
play an important role in improving and expanding product offerings.
The Bank introduced more IT based products to cater to the changing
lifestyles and needs of the customers. MCB Virtual‐
Internet Banking was launched with wide ranging
banking solutions for the customers ranging from individual to corporate customers
and it has become the most preferred Internet banking solution in the country.
MCB also had the privilege of being the first Bank in Pakistan to launch the compr
bill payment facility through its alternate delivery channels which include Intern
et Banking, ATMs and MCB Call Centre, currently with six payment
partners. Similarly, the Bank also took initiatives to increase the
usage of debit facility. To provide timely and updated information, MCB
has also provided a new look to its website which is user friendly
and considerably easy to browse. The Islamic Banking initiative has been
very successful in attracting new customer, both individuals and
companies. Similarly, those relationships, which were confined only to
current account facility, have grown into stronger business
relationships. The branch network was expanded to Lahore and Multan
during the last year and recently been
extended to Hyderabad and Faisalabad. The Bank plans to further expand its Islamic
Banking branch network to other metropolitan areas and also to
introduce new sharia compliant
banking solutions to a wider range of customers for satisfying their individual an
d business needs. Some wide‐
ranging new strategic initiatives were also taken up which will be important for
the Bank in years to come. A private company has been formed in Hong Kong (fully o
wned subsidiary of MCB) in partnership with Standard Chartered Bank,
handling trade transactions of select countries in the Asia‐Pacific
region. It is projected to earn US$ 1
million in its first year of operations. To increase its international presence, t
he Bank will be opening its representative office in Dubai and entering
into major strategic alliances with
banks in the UAE/ especially for marketing our consumer banking products to non‐
Pakistanis. Furthermore, feasibility is also being carried out for entering other
international markets.
MCB's operations continued to be streamlined with focus on rationalization of expe
nses, re‐ alignment of back‐end processing to increase productivity,
enhancement of customer service standards, process efficiency and
controls. The Bank has taken the lead in
introducing the innovative concept of centralizing Trade Services in the country b
y providing
centralized foreign trade services to branches with a view to improve efficiency,
expertise and reduce delivery cost.
Management of Human Resources has been one of our core focus areas. MCB is committ
ed towards attracting, retaining and motivating outstanding people.
Challenge for MCB is to provide an environment in which employees can
better realize their potential. The Bank introduced 'reward for
performance' where high potential officers were identified and rewarded
accordingly. In view of the competitive environment, the Bank is
focusing on
performance and introducing a more robust performance management system. MCB is al
so strongly committed to training its staff at all levels.
The Bank will also be implementing the full suite of the latest version of SYMBOLS
Version 8. MCB Bank will run SYMBOLS eFinance modules to deliver
personalized services to its customers over multiple delivery channels,
while SYMBOLS Enterprise Operations Center will serve as its core
banking transaction‐processing engine. By implementing SYMBOLS, MCB Bank
aims to raise the level of its customer service and its time to
market in new product offerings for its three core banking businesses
in Corporate, Commercial and
Consumer Banking ‐ retaining its market leadership as Pakistan's progressive Bank.


In the MCB Bank Limited I really enjoyed working with the staff of Dijkot Road and
having a
wish to be the employee of MCB. It was almost impossible to work in all the depart
ments within that limited time. But on my request, the staff of the
branch provided me the
opportunity to work in the different departments for the sake of practical knowled
ge. I feel highly indebted to work in there. During my internship training
in the MCB as I early mentioned that I have worked in
different departments & seats and learnt followings. UTILITY BILLS COLLECTION
MCB Bank Limited collects utility bills on behalf of WAPDA, Sui Gas Companies, and
Pakistan Telecommunication Corporation Limited by putting the stamp on
the utility bills “Paid”,
Date of payment, Signature of the officer receiving the utility bills. After recei
ving utility bills
a list is made on the form, which is called Bills scroll form. One copy of the scr
oll is with the bank for evidence whereas the original copy with the
receipt of bills is sent to the billing
department of the respective corporation. The bank charge commission on the bills.
During the span of my internship in MCB I learned and observed a lot of about the
opening of an account. Basically I think that the opening of an
account is the establishment of a
contractual relationship between the banker and the customer. By opening an accoun
t at a bank, a person becomes a ‘customer’ of a bank. Further I am
going to express the basic
requirements and steps involved in the opening of an account.

Learning as a Student
• Duties & Accomplishments During my internship in MCB I worked in
Operations, Advances, Foreign Exchange and Customer Service Office
department and I successfully completed all the task/duties that
were assigned to me.
The duties that I performed and the thing I learned each day are given as follows:
• July 15, 2005 Learned basic operations of remittance department
Learned how to make entries and vouchers for Incoming TT(Telegraphic Transfer)
Made vouchers and entries for Incoming TT
Observed other operations e.g. PO (Pay Order), DD (Demand Draft) July 16, 2005
Learned bank charges for PO, DD, TT & MT (Mail Transfer)


Learned how to make entries and vouchers for Outgoing TT(Telegraphic Transfer)
Made few Outgoing TT Learned & Made Inter‐
Branch Credit Advices against the checks received from outer city branches
July 18, 2005 Learned about the payment against PO & DD received from other
branches (usually the first activity in the remittance dept.)
Learned how to issue a PO Made entries against the TT and MT in the Day Book
Made Incoming and Outgoing TT Made Inter‐
Branch Credit Advices against the checks July 19, 2005
Made Debit vouchers against the TT, PO & DD charges
Made Credit vouchers (contra) against the TT, PO & DD charges
Made Incoming and Outgoing TT Made Inter‐
Branch Credit Advices against the checks Made entries in the Day Book
July 20, 2005 Learned Incoming & Outgoing TT Entries in the Daily Voucher Record
Sheet Learned how to make DD and PO
Made Debit vouchers against the TT, PO & DD charges
Made Credit vouchers (contra) against the TT, PO & DD charges
Made Incoming and Outgoing TT July 21, 2005
Learned basics of Remittance Software System
Made DD and PO entries in the Daily Voucher Record Sheet Made Inter‐
Branch Credit Advices entries in the Daily Voucher Record Sheet
Made Incoming and Outgoing TT Made Inter‐
Branch Credit Advices against the checks Made entries in the Day Book
July 22, 2005 Learned about different Stamps on the PO
Learned and made entries and vouchers against Incoming MT
Made Incoming and Outgoing TT Made Inter‐
Branch Credit Advices against the checks Made entries in the Day Book
July 25, 2005 Learned and recorded the entries against Incoming MT
Made Incoming and Outgoing TT Made Inter‐
Branch Credit Advices against the checks Made entries in the Day Book
Issued Credit Advices against DD July 26, 2005
Learned PO and DD issuance in detail

Made the entries against Intercity Received Checks Made Incoming and Outgoing TT
Made Inter‐Branch Credit Advices against the checks July 27, 2005
Got more information about Remittance Software System
Learned how to make cancellation entries in the Remittance Software
System in case of any discrepancy
Made Debit vouchers against the TT, PO & DD charges
Made Incoming and Outgoing TT Made Inter‐
Branch Credit Advices against the checks July 28, 2005
Learned how to cancel a DD Made Incoming and Outgoing TT
Made vouchers for incoming MT Made Inter‐
Branch Credit Advices against the checks Issued Credit Advices against DD
July 29, 2005 Learned how to make entries against the incoming TT for which the
beneficiary’s account in some other bank Made Incoming and Outgoing TT
Made Inter‐Branch Credit Advices against the checks Made entries in the Day Book
July 30, 2005
Was moved to Credits, got basic information about different operations
of Credits department
Learned about Running Finance against the Saving Certificates also called
Instant Finance Studied few pages of Credit Manual
Studied a Instant Finance Case
Learned about the entries against Monthly Installment for Car Financing
Made Daily Voucher Sheet August 1, 2005 Learned basic types of financing
Read Running Finance in detail from manual Studied a Running Finance Case
Made Vouchers Made Daily Voucher Sheet August 2, 2005
Learned about the different documents required for Credit Investigation
Learned about the documents required for Running Finance
Learned the Concepts of Demand and Cash Finance Made Vouchers
Made Daily Voucher Sheet

August 3, 2005 Studied Export Refinancing from Manual

Made voucher for partial Adjustment of CF (Cash Finance)
Filled ‘’Credit Proposal cum Sanction Advice MCB Instant Financing, BBFS
(Borrower Basic Fact Sheet) and Application for Finance for renewal of 3
cases of CF. Made Lease Statement Made Daily Voucher Sheet August 4, 2005
Studied Documentation/Collateral Guidelines Made ‘’Disbursement Status‐
Leasing” Statement Made CF Vouchers Made Voucher Sheet
Made entries for monthly mark up against RF (Running Finance) August 5, 2005
Studied other types of Export Financing e.g. FAFB (Finance Against
Foreign Bills), FBP (Foreign Bills Purchased)
Studied ‘’Sanction Advice” & ‘’Approval for Financing”
Made Voucher and Voucher Sheet Studied a Credit Report August 8, 2005
Learned “General Documentation” for financing
Learned about FIM(Finance against Imported Merchandise) Made Daily Voucher Sheet
August 9, 2005 Learned documentation requirement for each type of financing
Made Vouchers Made Daily Voucher Sheet August 10, 2005
Made monthly entry in the ‘Mark‐up Recovery Register’ Made ‘Letter to Auditor’
Made Vouchers Made Daily Voucher Sheet August 11, 2005
Learned about L/C documents Learned basics of Foreign Exchange operations
Made Voucher Sheet
August 12, 2005 Learned about different L/C related terms and definitions
Learned about Payment against Foreign Currency Checks
Learned about Foreign Inward Telegraphic Transfer Made Voucher Sheet
August 13, 2005 Made vouchers for Foreign Currency Cash withdrawal
Made vouchers for FITT(Foreign Inward Telegraphic Transfer) Made Voucher Sheet
August 15, 2005 Learned about bank charges against L/C
Learned diff. types of SWIFT messages Made Vouchers Made Daily Voucher Sheet
August 16, 2005
Worked as CSO(Customer Service Officer) because CSO was on leave and
performed the following activities: o Attended phone calls
o Attended customer inquiries o Received ATM forms
o Received and entered daily DAK o Issued ATM cards
o Issued balance Certificates and Bank Statements
o Made charges vouchers for TT/DD/PO August 17, 2005
Studied few chapters of Foreign Exchange Manual
Learned about diff. types of L/Cs Learned about diff. parties involved in L/C
Learned about Payment modes for L/C Made Vouchers Made Daily Voucher Sheet
August 19, 2005
Worked on the seat of A/C Opening/Check Collection/Lockersbecause
the Madam on this seat was on leave, so learned and performed the
following activities:
o Opened three accounts o Issued check books
o Received ‘Check Book Issuance Requisition’ August 20, 2005
Opened new accounts Issued check books
Received ‘Check Book Issuance Requisition’ Made CCs(Check Collection)
Made Vouchers August 22, 2005 Opened new accounts Issued check books
Received ‘Check Book Issuance Requisition’ Made CCs Made Vouchers
August 23, 2005 Worked as CSO(Customer Service Officer) August 24, 2005
Opened new accounts Issued check books
Received ‘Check Book Issuance Requisition’ Made CCs August 25, 2005
Opened new accounts Issued check books
Received ‘Check Book Issuance Requisition’ Made Vouchers August 26, 2005
Sorted Foreign Currency Signature Verification Cards Opened new accounts
Issued check books Received ‘Check Book Issuance Requisition’
Made CCs(Check Collection) Made Electricity Bills Vouchers
August 27, 2005 Opened new accounts Issued check books
Received ‘Check Book Issuance Requisition’ Made CCs(Check Collection)
Made SUI GAS Bills Vouchers Made Telephone Bills Vouchers
Made Electricity Bills Vouchers


From the Quantum of the profit and its financial data it can be
easily judged that
after privatization, MCB BANK is performing well. Its deposits are growing day by
day and so its profitability. The controlling body is responsible for
the productive performance of the Bank.
I spent 8 weeks of my internship in MCB Dijkot Road. During these six weeks, I fe
lt myself to
be a part of MCB. Even, this was my first experience of working in a banking organ
but I learned a lot from this experience. Based on my experience & observation reg
the operations and policies of MCB Bank, I have tried to stipulate some recommenda
tions for further improvement.

Enhanced Computer Network

The bank should emphasize much on computer technology. Like other banks, MCB
should enhance its on‐line services. Bank, also should concentrate on E‐banking an
d use of
ATM. Moreover, bank should also emphasize on enhancing its website information.

Training Facilities And Seminars

Human resource constitutes the most valuable asset for an organization. To improve
the professional skills and quality, MCB has started six‐months
comprehensive training
program that is really a commendable step taken by MCB. Bank, apart from this prog
conduct some training programs for existing employees to improve their proficiency
. Also, MCB Bank should arrange some seminars to make its visions
and objectives, clear to every one. Equal Status Of Branches One major &
alarming drawback that I observed in Dijkot Road, is the inferiority
complex faced by some employees. MCB Dijkot Road, for being situated
in business and commercial hub, has its unusual importance. But I
observed some employees to be the
victim of complex. So, to avoid such discrepancies, seminars should conduct to sig
nify the importance of each branch.


It is evident from this report and the financial statements of MCB

that it is making
progress by leaps and bounds. The profits of MCB have grown considerably during th
e last few years and this trend is expected to continue into the
future. Therefore we conclude that MCB has a very prosperous present
and future, which assures the
shareholders of wealth maximization. Side by side of it I think that if bank would
be able to cover and control on the above mentioned recommendations
then it would be in
such a situation that will really lead it towards the road of prosperity, developm
ent and integrity. And with the above mentioned sentences I think there
is too fault of the
customers and in order t\o make the proper working of the bank the customers shoul
d also cooperate with the bank which will be really a good, ambitious
and diligent
condition for the bank. And then bank will be really in such a situation and posit
ion to
compete its competitors in the country as well as on international level.
Websites http://www.mcb.com.pk


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