PROJECT

PROJECT ON MCB BANK LIMITED 03143046412
MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 1

PROJECT: BANKING SECTOR

MCB BANK (Ltd.)
SUBMITTED TO:
DR. MOHAMMAD KHAN

PROFESSOR OF MANAGEMENT OF SEIENCES
MOHI-UD-DIN ISLAMIC UNIVERSTIY
AZAD JMMU & KASHIR
SUBMITTED BY:
Muhammad Aamir
MBA (Finance)
ROLL NO.
220046
SESSION:
2009-2010
REGISTERATION NO.
08-PFD-8721

Dedicated to
Holy Prophet (PBUH)

[Greatest Reformer]
&
My Precious Parents

No. Title Pages

1 Definition 05
2 History Of Bank 06
3 History Of MCB Bank 09
4 Vision 13
5 Mission 14
6 Management Committee 15
7 Marketing Mix 20
8 Product Mix & Prices 21
9 Placing Strategies 30
10 Departments 33
11 First Two Weeks 48
12 Next Two Weeks 54
13 Last Two Weeks 56
14 Financial Statement Analysis 59
15 Time Series Analysis 75
16 Swot Analysis 76
17 Suggestions 78
18 References 81

DEFINITION OF BANK
The term 'bank' is being used for a long time, yet it has no
precise definition. The basic reason is that the commercial banks
perform not just one but many types of functions. The term bank
has been defined differently by different authors. Some are as
follows:
According to Crowther,
"Bank is a dealer in debts—his own and of other people."
According to G.W. Gilbert,

"A banker is a dealer in capital or more properly a dealer in
money. He is an intermediate party between the borrower and the
lender. He borrows from one party and lends to another."
According To Bamkinh Companies Ordinance

U/s3 (B) of Banking Companies Ordinance 1962 "Banker means
person transacting the business of accepting for the purpose of
lending or investment, of deposits of money from the public,
repayable on demand or otherwise and withdraw able by cheque,
draft, order or otherwise and includes any Post Office Savings
Bank."

HISTORY OF BANKING IN PAKISTAN
The interesting point which I observed during the span of mine

internship was the historical background of Banking & Financial
sector which is the one in which great improvement and growth is
observed since the formation of Pakistan. For studying the
growth of this sector we can divide it into three stages, which are
as follows
a) Pre-Nationalization Era
b) Nationalization Era
c) Post Nationalization Era
A) Pre Nationalization Era

There were only two Muslim banks in Indo Pak before partition,
they were;
Habib Bank Ltd. (estd. in 1941 at Bombay) & Australia Bank Ltd.
(estd. In 1944 at Lahore). Hindus or Foreigners either owned all
other banks, at that time.
At the time of partition there were 631 bank branches in area,
which came under Pakistani control. But due to blood shed and
violence at large scale, mostly branches were closed and the
disparity can be assessed from the fact that on July 1948 there
were 195 branches with deposits of Rs.88 crore (880 million) only.
Also a factor lagging in Pakistani industry was a central bank of
its own, by that time Reserve Bank of India was acting as central
bank for both countries and same currency notes were used in
both territories. But Reserve Bank of India was biased and Set
down Pakistan on many occasions such as the issue of funds
transfer etc.
The private sector also responded to these changes and some
very positive changes were observed. Some of the steps taken by
the government in this regard were as under:

i. Inauguration of State Bank of Pakistan (SBP) on 1st July,

1948.
ii. Setting up of National Bank of Pakistan in November, 1949
to control the 'jute' export in East Pakistan and to act as
agent of SBP.
iii. Larger powers were given to SBP through SBP Act (1956)
for controlling purposes.
iv. Banking Companies Ordinance 1962 for protection and
guidance to banks.
v. Establishment of specialized banks, such as ADBP (1952);
a) HBFC (Nov, 1952);
b) P1CIC (Oct, 1957)
c) IDBP (Aug. 1961);
d) NDFC (Jan, 1973).
These were the steps, which built a strong banking sector in
Pakistan. This is also obvious from the facts that by 1973 there
were almost 10 foreign banks were working in Pakistan and all over
deposit position was around Rs.2300 crore (23,000 million). A bird
eye view of 5 top banks was as given below:
BANKING SECTOR IN PAKISTAN IN 1973
BANK NO.OF BRANCHES DEPOSITS

Habib Bank Ltd. 667 Rs. 6,160 (million)
National bank of 579 Rs. 5,660 (million)
Pakistan Ltd.
United Bank Ltd 497 Rs. 5,670 (million)
MCB Bank Ltd. 506 Rs. 1,640 (million)
Allied Bank Ltd. 145 Rs. 570 (million)

B) Nationalization Era:
On January 01, 1974 all Pakistani banks were nationalized through
Nationalization Act 1974. Under this law all Pakistani banks
became a public property. All small banks were merged in bigger
banks to create 5 major Pakistani banks. However the major
changes after nationalization were as follows:
 Working of banks was extended to under developed
areas.
 Market expansion for credit and deposits.
 Bank were encouraged to extend cooperation to
neglected areas
 Decrease in service level of bank officers.
 Decrease in profitability as well.
C) POST NATIONALIZATION ERA

The-three privatized banks are;
a) MCB taken up by a private group in April, 1991
b) ABL taken up by its own employees in September 1991.

c) UBL taken up by UAE party in 2002.
After these changes a large number of private and foreign banks
started their operations in Pakistan and the present status can
be seen from the following figures:
SCHEDULED BANKS
Category No. Of Banks

Nationalized Commercial Banks 3
Private / Privatized Commerce Banks 18
Public Sector Specialized Banks 4
Foreign Banks 19
Total Schedule Banks 44

HISTORY OF THE MCB BANK LIMITED
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 as well. This was the idea which
paved the way for setting up MCB Bank Ltd known as MCB. This
was the third Muslim bank in the subcontinent.
HISTORY
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 certificate
was issued at Chitagong. The first Head office of the company
was established at Dacca and Mr. G.M. Adamjee was appointed
its 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 reputation 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 1.287 and deposits amounting to as high
as Rs. 35,029 million

PRIVATIZATION
When privatization policy was announced in 1990, MCB was the
first to be privatized upon recommendations of World Bank and
IMF. The reason for this choice was the better 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 over to National Group (the
highest bidders). Initially only 26% of shares were sold to private
sector at Rs. 56 per share.
AFTER PRIVATIZATION
Ten years after privatization, MCB is now in a consolidation stage
designed to lock in the gains made in recent years and prepare
the groundwork for future growth. The bank has restructured its
asset portfolio and rationalized the cost structure in order to
remain a low cost producer.
After privatization, the growth in every department of the bank
has been observed. Following are some key developments:
• Launching of different deposit schemes to increase saving
level.
• Increased participation on foreign trade.
• Betterment of branches and staff service level.
• Introduction of Rupee Traveler Cheques & Photo Credit
Card for the first time in Pakistan.

MCB BANK TODAY
MCB today, represents a bank that has grown with time,

experience and Pakistan. A major financial institution, in scope
and size, it symbolizes a fully growing tree evergreen, strong, and
firmly rooted.
FOREIGN TRADE
The bank conducted import business during the year amounting to
RS. 54.0 billion As compare to RS. 56.4 Billion In 2009. The
export business slightly improves to RS. 36.9 Billion From RS. 35.1
Billion. In 2009. Home remittances decline to RS. 16.7 Billion
From 30.7 Billion the decline in home remittances business was
due to freezing of Foreign Currency Accounts, which has
affected the confidence of Pakistanis working overseas.
YEAR 2009 COMPLIANCE

MCB’s strength lies in providing a technological base at the gross
root level of the society with a challenge to educate and
assimilate such systems across vast cultural and economic
backgrounds. With over 768 automated branches, 263 online
branches, over 151 MCB ATMs in 27 cities nationwide and a
network of over 16 banks on the MNET ATM switch and now in
2010 all branches become online, MCB continuously innovates new
products and services that harness technology for the customer’s
benefits.
SOCIAL SECTOR
The bank activity participating in the Prime Minister self-
employment Scheme. The application received from various
applicants is being processed on merit and disposed off as quickly
as possible.

THE BUSINESS
MCB is in it’s over 50 years of operation. It has a network of
over 1,000 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
Blochistan (3%) respectively.
MCB has an edge over other local banks, as it was the first
privatized bank. The State Bank of Pakistan has restricted the
number of branches that can be opened by foreign banks, an
advantage that MCB capitalizes because of its extensive branch
network.
Nineteen years after privatization, MCB is now in a consolidation
stage designed to lock in the gains made in recent years and
prepare the groundwork for future growth. The bank has
restructured its asset portfolio and rationalized the cost
structure in order to remain a low cost producer.
MCB now focuses on three core businesses namely Corporate,

Commercial and Consumer Banking. Corporate clientele includes
public sector companies as well as large local and multi national
concerns. MCB is also catering to the growing middle class.
MCB looks with confidence at year 2010 and beyond, making

strides towards fulfillment of its mission, "to become the
preferred provider of quality financial services in the country
with profitability and responsibility and to be the best place to
work".
A major achievement of MCB is that the state bank of Pakistan
has issued a license to MCB to start Islamic banking. MCB was
setting up a 1st Islamic banking branch at 1st floor shaheen
complex, Karachi. This complex was started working from
September 1, 2003.

Vision Statement
TO BE THE LEADING FINANCIAL SERVICE PROVIDOR
PARTANING WITH OUR CUSTOMER FOR A MORE PROSPER
AND SECURE FUTURE

Mission Statement
To become the preferred provider
of quality financial services in our
country with the profitability and
responsibility and to be best place
to work

Management Committee

Board of Directors
Mian Mohammad Mansha Chairman
S.M. Muneer Vice Chairman
Mohammad Aftab Manzoor President & Chief Executive
Tariq Rafi Director

Mohammad Arshad Director
Shahzad Saleem Director
Mian Umar Mansha Director
Sarmad Amin Director
Sheikh Mukhtar Ahmed Director

ORGANIZATIONAL HIERARCHY OF MCB
PRESIDENT
SENIOR EXECUTIVE
VICE PRESIDENT
EXECUTIVE VICE
PRESIDENT
SENIOR VICE
PRESIDENT
VICE PRESIDENT
ASSISTANT VICE
PRESIDENT
OFFICERS GRADE
I II III
ASSISTANTS
CASHIER
PEONS

ORGANIZATIONAL SETUP OF MCB
HEAD QUARTER KARACHI
PROVINCIAL HEAD
QUARTERS
PUNJAB LAHORE
SINDH KARACHI
BALOCHISTAN PESHAWAR
NWFP & AZAD

QUETTA
KASHMIR
CIRCLE OFFICES
BRANCH OFFICES

MARKETING MIX OF MCB BANK LIMITED
Marketing is the task of creating, promoting and delivering goods

and services to consumers and businesses. Organizations identify
and profile distinct group of buyers who might prefer or require
varying products and marketing mixes. The customer seeks for
value and satisfaction. The organizations can increase the value of
the customer offering in several ways e.g. raising benefits,
reducing costs etc. marketing mix is a set of marketing tools that
the firm uses to pursue its marketing objectives in the target
market. These marketing tools are known as 4 ps of marketing.
These four marketing tools are viewed as 4c’s by the consumers.
4 P’s 4 C’s
Product/ Service Customer Solution
Price Customer Cost
Place Convenience
Promotion Communication
To identify the customer needs and fulfilling hem is the basic
objective of an organization. Marketing is not just satisfying your
customers, you have to delight them and this can be done by
acting upon this phrase.
“Under Promise and Over Deliver”
MCB Bank provides a winning combination of products and services
to its prime customers. It is one of the country’s leading
commercial banks, which ensures complete security, and reliability
in all-financial transactions.

PRODUCT MIX & PRICES OF MCB BANK
1.MCB Rupee Traveler Cheque
MCB Rupee Travelers Cheques are as good as

cash, infact better. Better because with
Rupee Travelers Cheques you have the power
to purchase and a feeling of security that should you lose them,
you will get a refund.
MCB Rupee Travelers Cheques are accepted at major shops,
travel agents, hotels, business establishments and MCB branches
all over Pakistan. You don't have to be an MCB account holder to
buy the Rupee Traveler Cheques. Anybody can purchase them.
It's a safe and convenient way to conduct everyday business. At a
time when thefts and robberies are on the increase, you are
better off carrying Travelers Cheques rather than money.
2.Mahnama Khushali Scheme
A 5- year fixed Deposit Scheme, targeted to persons with small
savings who would desire a regular monthly return on their
investment.
Salient Features
• Minimum amount of investment shall be Rs.0.010m and the
maximum amount of investment would be Rs. 1.000m.
• Khushali Certificates can be purchased by individuals (singly
or jointly) or by the Proprietorship/Partnership concerns or
Companies, etc. in their name
• The Khushali Certificate will be of five years maturity.
• The interim rate of profit offered will be minimum 1% per
month. If the profit declared by the bank is higher,
additional profit will be paid.

• Zakat will be deducted wherever applicable on yearly basis

whether you will be receiving your profit or encashing your
certificates.
• As per Government Directions, tax on the profit / return is
to be deducted by MCB branches at the time of payment.
3. MCB Khushali Bachat Account
Salient Features
• 8% rate of return per annum.
• Returns calculated on daily.
• Average balance and paid half yearly.
• Introduced first time in Pakistan.
• The facility of helping account holders pays utility bills
(electricity, telephone and gas) through their account. No
queues. No delays.
4.Prime Currency Account Scheme

Launched to attract deposits in
foreign currencies. US Dollars, Pound
Sterling, Euro and Japanese Yen.
Salient Features
• Owing foreign currency account under the Prime Currency

Scheme allows you to earn attractive rates of interest in
foreign currency.
• You have a choice between opening this account in your
personal name and opening it under joint names.
• Whether you are a resident or a non-resident Pakistan, MCB
Prime Currency Scheme invites all to operate a foreign
currency account.

• Foreign nationals and foreign companies can also open a

foreign currency account under the Prime Currency Scheme.
• Your foreign currency account can be opened in four global
currencies: The United States Dollar, the Pound Sterling,
the Japanese Yen and the Euro.
• Travellers Cheques and Foreign Currency Notes can also be
issued to holders of personal and Joint accounts.
• Rupee Loan facility will also available against this account.
• You can draw any amount of foreign exchange from your
foreign currency account and transfer or remit the amount
freely to any part of the world without any restrictions.
• The restrictions imposed by the State of Pakistan for the
opening of foreign currency accounts in case of passport;
Work-permit and resident Visa have been withdrawn. Your
account will be restriction free.
• The Prime Currency Scheme is exempt from all forms of
taxes including Income Tax, Wealth Tax and Zakat
deductions.
• MCB Prime Currency Scheme is a world in itself.
5.Hajj Mubarak Scheme

A saving scheme, of 2/3 years duration, for the convenience of
persons, with a limited income, who desire to perform Hajj was
introduced.
Under the 2 years scheme, a monthly deposit of Rs.2800 is
required, whereas under the 3 years scheme, the required
monthly deposit is only Rs.2200
6.Capital Growth Certificate Scheme

For long term depositors under which the amount deposited

almost doubles at the end of 5 years. For the scheme, the
minimum amount of deposits is Rs. 100000 while there is no
maximum limit.
In case of premature encashment of the certificate, the
depositor will profit at the same rates as that of PL Saving
Account.
7.Fund Management Scheme
This scheme is offered to corporate and customers and is aimed
at providing better rate of return up to 15% per annum. One of
the objectives of the scheme is to develop secondary market for
Government Securities.
8.Consultancy Services
In the process of privatization of public sector units, prospective
buyers need professional assistance and MCB, with its expertise,
offers to them specialized service for valuation of the market
value of the industrial unit, preparing bid documents and
arranging finance for the purchase of the unit.
9.Self Supporting Scheme
For the benefits of genuine worker/borrowers who are poor and
needy and for small entrepreneur the bank as evolved a self
supporting scheme: maximum amount of loan Rs.25000 and
minimum Rs.5000 per individual. Loan will be totally free of mark-
up.
10. Fax Press
This product was first of its kind
introduced by using modem technology
of The Fax Machine. It facilitates
speedy transfer of funds within
Pakistan.

The service guarantees transfer of from one city to another,

within an hour.
11. Utility Bill Collection
With the aim of extending this service

to wider range of customers, the
number of MCB branches collecting Utility Bills more than 900.
12. MCB Mobile Banking

At the forefront of technological excellence, MCB proudly
introduces MCB MOBILE BANKING*. The convenience of
accessing account balance information and mini statements
whenever want or wherever may need them, with comfort and
peace of mind.
MCB Mobile Banking service is available to all MCB ATM
cardholders, 24 hours - 365 days.
MOBILE BANKING AT A GLANCE
MCB Mobile Banking gives easy and quick access to account(s) at a
time find convenient, including all holidays.
• WITH MCB MOBILE BANKING
· Check balance
· View the last 4 transactions of your MCB account(s).
• A FREE SERVICE
MCB Mobile Banking is a free service for MCB account holders
who have an ATM card of an SMS message if charged by the
service provider.
• BANKING AT FINGERTIPS
Dial in anytime to get information regarding balance and mini
statements.

13. MCB Islamic Banking Services

Islamic banking services through exclusive units/branches
offering a range of liability and asset based Sharia compliant
products like Musharika, Murabaha, Ijara and Istasana.
14. MCB Car Cash

Car financing and leasing at competitive rates with flexible
options Car cash finances both semi-commercial and non-
commercial vehicles for personal and business use.
15. MCB Locker

The best protection for your valuables. Lockers of different
capacities are available nationwide
16. MCB Master Card
THE FUTURE OF MONEY
Since the beginning of time, people have
tried to find more convenient ways to pay,
from gold to paper money and checks. Today, money is moving
away from distinct hard currencies and towards universal payment
products that transcend national borders, time zones, and, with
the Internet, even physical space.
Plastic or "virtual" money, credit, debit, and electronic cash
products, inevitably will displace cash and checks as the money of
the future.
MasterCard International has expanded globally in more locations

in the world than any other card. The card was introduced by
MCB Bank Limited in 1995 and now offers card members over
15 million outlets in 232 countries.

• Photo security- The first bank in Pakistan to introduce the

enhanced feature of photograph on the card limiting fraud
in case of card loss.
• Welcomed at over 3, 000 outlets in Pakistan.
• Provides up-to 45 days Free Credit.
• Joining and Annual Fees to suit you.
• 24 Hour Customer Services- Call 111-700-700 and you can

get information from our customer services representatives
on new card application or have your queries resolved
anytime of the day.
• Cash Advance Facilities
Available in Pakistan and worldwide with a network of over 1,000

branches and a team of dedicated professionals, MCB is Pakistan’s
largest private sector commercial bank.
Our Consumer Banking provides customers with innovative saving
schemes, products and services. Our ATM network is the largest
in Pakistan and our Pak Rupee Travelers Cheques are market
leaders. We were the first to introduce the photo card with the
introduction of the MasterCard.
Our Corporate Banking ensures assistance from a dedicated team
of professional financial advisors for underwriting, project
finance or corporate advisory services.
When it comes to banking practices, you can depend on us. We’ve
been around for over fifty years.
17. MCB Smart Card
MCB now brings you MCB SmartCard -a
secure and convenient instrument of

payment with unmatched functionalities. It provides 24-hour

direct access to your bank account
The convenience and flexibility of MCB SmartCard will help live a

smarter life. It not only helps you manage your expenses, but also
avoids undue interest on your day to day credit card transactions.
Your balance is always within your reach and you spend

accordingly.
MCB is the only bank to introduce a debit card that gives the
option to choose from domestic and international card for local
and global usage respectively
18. Remit Express
Fastest to Pakistan. Anywhere in Pakistan.
The fastest way of getting your money across to Pakistan. Remit

Express offers low cost remittance from U.A.E. and Saudi Arabia.
Your relatives, friends or business associates receive drafts
within 72 hours. MCB Remit Express has been specifically
designed to meet the needs of the expatriate Pakistani
community residing in the Gulf countries.
19. Easy Personal Loan
Helping You Do More
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.
20. MCB Pyara Ghar
MCB gives dream home at the lowest and
best possible mark-up rates. You can

choose either one of our two mark-up rate options- fixed or

variable.
Early repayment option tailor-made to allow making partial
prepayments at dates that suit.
Who Can Apply
Anyone who fulfills the following criteria is eligible to apply:
• Pakistani national residing in the city and area where the
product is launched.
• 25 years old or above when you apply and under 60 at the
time of maturity of the applied financing period.
• Salaried person, self-employed professional or a
businessman with a verifiable monthly income stream.
• Net take -Home income not less than Rs. 25,000 per month.
• Have 5 years or more of business or professional
experience.
• Employed with the present employer for 2 years with a total
employment history of 5 years.
• Home Purchase Home Renovation Home Construction
• Tenure 3 years to 15 years 2 years to 5 years 3 years to 15
years
21. MCB Virtual
MCB Virtual provides the continence of banking
on internet. Whether at office or home or
traveling. Log on at www.mcb.com.pk and enjoy
24 hours access of all your accounts for the largest array of
service.
22. MCB Business Sarmaya
MCB Business Sarmaya is a running finance
against your residential property. It offers
running finance up to 20 millions with low markup.
23. MCB Car 4 U
MCB car 4 u auto finance is a power move that
gets you not only a car of your own choice but

leads you best in life. It is affordable with competitive markup,

flexible conditioning and easy processing and above all no hidden
cost.
PLACING STRATEGIES OF MCB BANK
The location of the bank
plays a vital role in making
its operations profitable. If
the bank is located in some
business center then it will
be very easy for it to attract business people as its customers.
Therefore MCB has most of its branches at places where it can
reach its targets customer easily. The branch network of MCB is
Punjab 632
Sindh 232
NWFP 123
Blochistan 34
Azad Kashmir 19
Domestic 1040
Overseas 4
Total 1045
given as follows:

PROMOTION STRATEGIES OF MCB BANK
MCB Bank is actively participating in promotion of its

products and services through advertisement and other
promotional schemes.
Initially, the bank focused on the upper class customer’s
only and offered products for a limited class of people. But
now the strategy has been changed and the bank is now
targeting the middle market also. The products offered are
of diverse nature to cater the needs of maximum number of
people.
FIELDS OF ACTIVITIES
The purpose of banks is to provide some services to the general

public. And for this purpose different banks provide different
services to the people in different forms. The MCB Bank is a
commercial bank, in modern time commercial banks play a very

important role and their functions are manifold. The main

functions and services which MCB Bank Limited provides to
different peoples are as follows.
1) Open Different accounts for different peoples

2) Accepting various types of deposits
3) Accepting various types of deposits
4) Granting loans & advances
5) Undertaking of agency services and also general utility
functions, few of those are as under
• Collecting cheques and bill of exchange for the
customers.
• Collecting interest due, dividend, pensions and other
sum due to customers.
• Transfer of money from place to place.
• Acting an executor, trustee or attorney for the
customers. ‘Providing safe custody and facilities to keep
jewellery, documents or securities.
• 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.

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 there for improvement
of functions and also it is easy to control the situation. The
general division in a branch is as follows:
1. Cash department
2. Deposit department
3. Advances & credit department
4. Remittance department
5. Foreign exchange department
6. Technology department (new addition in order to cop with
the growing needs of day to day technology requirements)
CASH DEPARTMENT
The following books are maintained in the Cash Department:

• Receiving Cash Book
• Paying Cash Book
• Token Book
• Scroll 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 clerk and the Cashier make
entries in the paying book and payment is made to payee. At the
close of day, the Token Book and Paying 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 department 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 from one person and lend to another,
the difference between the rate of borrowing lending forms their
spread or gross profit. Therefore we can rightly state that
deposits 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 its 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.
TYPES OF DEPOSITS
Deposits can be segregated on two bases, one is the duration in
which there funds are expected to be with the bank and second is
the cost of getting these funds. So divide deposits in two classes
according to duration of deposits i.e.

1) Time deposits / liabilities

2) Demand deposits / liabilities
And on the basis of the cost to acquire these funds, a deposit
can be classified as any one of following four, High Cost Medium
Cost, Low Cost No Cost.
Banks has different kinds of deposit schemes in order to induce
deposits. These schemes are a mixture of the above mentioned
two types of deposits with an addition of different services &
requirements such as minimum balance' requirement, mode of
transaction, basis for calculation of profit, deductions, additional
benefits, eligibility for different groups.
In the similar fashion, MCB has a large variety of deposit
schemes and some of them are as follows:
CURRENT ACCOUNT
In this type of accounts the client is allowed to deposit or
withdraw money as and when he likes. He may, thus, deposits or
withdraws money several times in a day if he likes. There is also
no restriction of amount to be deposited or withdrawn. However,
there is requirement of minimum balance maintenance of Rs.
10000/-. Usually this type of account is opened by the
businessmen. No profit is paid by the bank and no service charges
are deducted by the bank on current deposits account. These
types of deposits are also exempt from compulsory deduction of
Zakat.
PLS ACCOUNT
This type of account is for those persons who want to make small
savings'. This type of account is opened with a minimum deposit
of Rs. 10000/-. Under this scheme deposits can be made only up
to a-costing amount and withdrawals are allowed twice a week or 8
times a month. If a big amount is required a seven days notice is

required before the withdrawal. The profit is paid on these

accounts on the minimum balance during a month for the whole of
That month. Zakat & other withholding taxes are deducted as per
rules of the government.
KHUSHALI BACHAT ACCOUNT
This is an advance form of PLS saving a/c, in this type of account.
The minimum balance requirement for this type is Rs. 10000/-.
There is also restriction on the number of withdrawals as well,
i.e. up to 4 times in a calendar month. For maintaining this extra
balance the customer gets the benefits of profit calculation on
daily product basis and also free service of standing instructions
of paying utility bills and HBFC installments. All other rules of
saving account are applicable.
PLS 365 GOLD

This is a special type of saving account in which customer
maintains a minimum balance of Rs. 300,000- and in turn he gets
the benefits of daily profit calculations and also there is no
restriction on the maximum number of withdrawals as was there
in the case of KBA. There is also another advantage of this
scheme that if balance on a particular day falls below the
minimum balance then only the product of that day is ignored
whereas in KBA, if balance falls below the minimum limit then all
the products for that month are ignored on in other words no
profit is paid for that month.
Khaunm Bachat Scheme
This is a type of term deposit, in this type of deposit an account
is deposited and monthly payments of Rs. 1000/- are made by the
account holder in this account for a minimum of 10 years. After
The expiry of term, he receives his funds along with profit for
the tenor. The distinctive feature of this product is that profit is
calculated on monthly basis and charged to account on end of each
half /ear. Then profit is also calculated on that amount of profit

which is credited to the customer's account. So we can say that

in this type of account there is a concept of accumulated profits
on profit. This ends in getting a heavy return for the depositor at
the end of tenor for his small savings. This product was actually
introduced to promote saving habits in the people. Zakat and
withholding taxes are deducted as per rules only at the time of
maturity while making payment to the customer.
Term Deposits Receipts
This is a type of term deposit in which a receipt is issued for
varying tenors ranging from 1 month to 5 years or more. These
are in the form of receipts and profit on these receipts is paid
biannually. These receipts are encashable after expiry of the
period for which they were issued. Different profit rates are
applied to different type of TDRs.
CLEARING DEPARTMENT
Every banker acts both as a 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 through the bankers clearing
house.
A clearing house is a place where representative of all banks of
the city get together and settle the receipts and payment of
cheques drawn on each other. As the collecting banker runs
certain risks in receipt of their ownership the law has provided
certain protections to 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.
Types of Cheques

• Transfer cheques: are those cheques, which are collected

and paid by the same branch of bank.
• Transfer delivery cheques: are those cheques, which are
collected and paid by two different branches of the same bank
situated in the same city.
• Clearing cheques: are those cheques, which are drawn on
the branches of some other bank of the same city or of the
same area, which is covered by a particular clearing house.
• Collection cheques: are those cheques, which are drawn on
the branches of either the same bank or of another bank, but
those branches, are not in the same city or they are not the
members of clearing house.

CLEARING PROCESS (FLOW CHART)
Cheque with slip Slip is asked & filled

given
Cheque along with slip checked, signed &

received by officer
Entries in daybooks are made
Entries checked & verified by another

officer after banking hours by officer
Cheques collected at the day end by Main

Branch’s Officials
Cheques are sent to respective banks next

day after posting in computer by Main
Branch
The same day not honored cheques are

returned to Main Branch
The day after tomorrow the banks are

informed about dishonored cheques
Provisional entries for returned cheques

are debited again in both computer &
daybooks
Party is informed about returned cheques

through Phone or personal contact
Cheques are mailed through TCS in case

of no personal contact the same day
(If there is any availability)

ADVANCES DEPARTMENT
Advances are the most important source of earning for the banks.
MCB is also giving 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 institution is in a
very much better shape than other financial institutions of
Pakistan and the credit goes to the management and the staff
who are concerned about the quantity and quality as well.
• Loans
• Cash Credits
• Overdraft
LOANS
Loans are monetary assistance by a financial institution to a
business, individual etc. The loans are granted by the bank in lump
sum, so these types called fixed or demand 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;
LOAN AGAINST GOLD
Under this type of loan, which is granted to the borrower the
Head Cashier estimates the value of Gold or Gold ornaments
through an agent (Gold smith) and keeps a margin 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 receipt for the gold ornament

taken in the demand loan ledger. This receipts states that he

ornaments 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 fully covers the
balance of the loan outstanding. The interest gold loan is to be
applied with quarterly.
LOAN AGAINST PLEDGE OF STOCKS

In case of advancing such types of loans, the following
precautions are kept in the mind:
• Stock pledged must be readily saleable
• Products should be readily saleable
• Advance should be within the borrows means
REQUIREMENTS OF LOAN
For granting loan to any party or individual, the bank checks
following particulars of the client:
 Credibility
 Feasibility Report
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.
CASH CREDIT
Such cash account is opened in the name of the customer who
borrows from the bank. Customer is granted a loan up to a certain
limit, sanctioned by the head office, from which he can draw when
he requires and interest is charged on the amount actually
utilized by the customer. In order to avoid the danger of idle
fund, the bank charges a certain rate of interest, even if the

customer does not withdraw any amount. The rate charged by

the bank on cash credit in 46 paisa per thousand on daily basis.
REMITTANCE DEPARTMENT
Remittance department performs following functions:
• Mail Transfer (MT)
• Telegraphic Transfer (TT)
• Demand Drafts (DD)
MAIL TRANSFER (MT)

When a customer requests the bank to transfer his money from
one branch of bank to another branch of the same bank or from
one city to another city to the same bank or any other bank.
Customer fills the form given by bank. If the customer has an
account with that amount as mentioned in the application form
then concerned officer will undertake the following procedure to
make the mail transfer complete.
1. Branch Mail transfer form
2. Receiving Branch Register copy
3. Issuing branch register Copy
4. beneficiary advice
5. advice to customer
In case where the customer is not account holder of the bank
then the customer will have to deposit the amount which he wants
to transfer under Mail. Then the above said procedure will be
done.

TELEGRAPHIC TRANSFER (TT)
This type of transfer is simple. After filling the application form

the concerning officer shall fill the telegraphic transfer form.
Then it is sent to the required bank which on receiving it
immediately makes the payment to the customer and afterwards
the voucher are sent to that bank by ordinary mail.
DEMAND DRAFT (DD)

Demand draft is just like cheques and issued when the customer
wants to take cash with him personally. The idea behind is to
avoid the risk and burden of currency notes in huge quantity.
Demand draft can easily be handled whatever amount it has and
the money can easily be taken from the bank when it is presented.
In fact, the bank persuades the customer to transfer money by
drafts and avoid the risk of frauds involves in MT and T.T. Draft
is only issued when the bank knows customer and bank has the
confidence in him
In case of transfer of money by drafts, the customer has to fill
an application form. Then the concerned officer fills the following
forms:
1. Customer’s advice 2. Customer’s debit form
3. Register copy 4. Cover Advice
FOREIGN DEMAND DRAFT

Foreign Demand Draft is just like demand draft. The only
difference is that a bank issues FDD to the bank of another
country. It requires foreign exchange and it involves seven forms,
which are to be filled.

TECHNOLOGY DEPARTMENT
Technological advancements are also affecting the banking

industry. The foreign banks have a competitive edge over all local
banks in their technologies' advancements and automated
systems. Local banks have also realized the gravity oil this
situation and are striving 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 even compete with foreign banks. There are more than
1045 branches of MCB all over Pakistan and out of these more
than 300 branches are fully computerized Almost all .the
branches 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 provide service to ad
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 directly using
computer systems at their own branches. Now customers do not
have to wait long 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 has the largest ATM network in the country at the moment
with almost one ATM at each online branch and also ATM
terminals at International Airports. This network covers more
than the 27 cities of Pakistan including the provincial capitals and
large commercial cities of the country.
ATMs are operated through a card issued to the valued
customers and by application of Personal Identification Number
(PIN number). A person can withdraw from any machine across
Pakistan with having an account in only one branch of MCB. This
was only possible with the help of online system. In this system all
the machines are linked to central banking host at IRM division
Karachi through either satellite or telephone controller. This
system identifies the card holder and his PIN Number.
Now MCB has also entered into a contract with Cirrus which is a
subsidiary of MasterCard. This contract will enable an ATM card
holder to use his account even when he is out of country at all the
ATMs where Cirrus logo is displayed.
Green Cards are ordinary cards with a maximum
withdrawal facility of Rs. 10,000/- in a day. The annual fee for
this card is Rs. 300/- only.
Gold Cards are special cars with maximum withdrawal limit
of Rs. 25000/- in a day. These cards are issued to the persons
having more than Rs. 500000/- as their average balance.
International Cards are issued in collaboration with Cirrus
and are useable all over the world with maximum withdrawal
facility according to the standards of Cirrus.

OTHER GENERAL INFORMATION OF THE

BRANCH
Deposits
The total deposits of this about to 170.265 million. In deposit

there is increasing trend.
Deposits
25
20
Amount
in Million
15
10
2007 2008 2009
Years

Profit
Total remittance of this branch is 220.65 million in 2009.there is
also incrasing trend in profit from 2007 to 2009 because of
higher mark up rate charged on the finances.
No. of vouchers
The vouchers which are transacted in this branch in 2009 are as
follows:
Financing & Advances

Mainly, the short term financing such as cash finance, running
finance, Demand finance, ERF II, FAFB, FBP are being dealt here.
Number of accounts
Accounts in this branch of MCB are as follows:
Current account
Total numbers of current accounts are 435.
PLS account
Total numbers of profit and loss accounts are 247.
Khushali bachat account:

These are about to 107 accounts.
Basic Banking Account (Newly Introduced by SBP for salaried

person)
There are about to 126 accounts.
MCB 365 Gold Account

There are about to 85 accounts.

ACCOUNT OPENING DEPARTMENT
Account opening and closing is the function of accounts

departments. Bank’s customers may be individuals (Single or
Joint), firms
F
(partnership/proprietorship), Autonomous
corporations, Limited Companies, Charitable Institutions,
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Associations Educational Institutions or Local Bodies.
BASICS TO OPEN AN ACCOUNT

R
S
During the span of mine internship in MCB, I learned and
observed a lot of about the opening of Tan account. Basically I
think that the opening of an account is the establishment of a
contractual relationship between the banker and the customer. By
T
opening an account at a bank a person becomes a ‘customer’ of a
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bank. Further I am going to express the basic requirements and
steps involved in the opening of an account.
O
INTRODUCTION AND PRELIMINARY INVESTIGATION
Before opening an account MCB as like the other banks in Pakistan
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ascertain whether or not the person who is going to open the
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account is a desirable customer or not. Then MCB determine the
prospective customer’s integrity, respectability, occupation and
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the nature of business by the introductory references given at
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the time of account opening. Negligence in this informal
preliminary investigation may result in serious consequences not
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only for the banker concerned directly but also for other bankers
and the general public who may be affected indirectly.

In order to further strengthen and streamline this process, the

Federal Ombudsman of Pakistan, vide his ruling on complaint No.
II/31/5186, has directed the banks to retain with the account
opening form a Photostat copy each of the National Identity
Cards of the person desiring to open an account as well as that of
the introducer. As per these directions, the concerned Branch
Managers are required to obtain the original National Identity
Cards along with their Photostat copies and then return the
original after attesting the authenticity of the retained copy.
Preliminary investigation is necessary because of the following
reasons:
Avoid Frauds: In this regard I learned that if a banker does not
make the necessary inquiries mentioned above he may enable
dishonest persons to possess cheque books for fraudulent
purposes. If any such person happens to be an undercharged
bankrupt, the banker might be placed in an awkward position for
having allowed such a person to open and open a bank account.
Safeguard against unintended overdrafts: Sometimes due to a
mistake an account may be given an overdraft, For instance, the
ledger keeper, misreading the balance of an account honors a
cheque for an amount larger than the balance. Similarly a credit
entry belonging to a customer may be made by mistake in another
customer’s account. In such situations the excess amount
withdrawn by the customer can only be realized if the customer is
a respectable person.
Inquiries about clients: Being a banker I think MCB has a
business obligation to respond to inquiries from other banks etc.
about his customer’s financial position. Though the banker gives
only a general ideal about the financial standing of his customer.
Specimen Signature
When an account is opened with MCB customer provides to the
bank a specimen of the form of signature which would appear on

all his cheques to express his authority for the payment of

cheques drawn on his banker. This specimen is taken generally on
a card specially designed for this purpose, and rule for the
customers, full name, and account number are entered on it.
If the bank has reasons to doubt the genuineness of a signature,
he should either get it confirmed for his satisfaction or return
the cheque with the remark ‘Signature differs’. If the signature
of the customer is forged the banker cannot escape his liability
because he has actually acted on his customer’s mandate.
HOW TO OPEN AN ACCOUNT (GENERAL)

Before opening an account in MCB I observed that the following
points must be considered in this regard.
• Another account holder of the bank should properly
introduce the new customer.
• The account holder should sign the account opening form in
the presence of bank officer and the signature is duly
verified.
• A copy of identity Card is required by Bank.
• Against submission of the Bank’s prescribed application
form, duly introduced in the manner provided and on
supplying such document, as may be required and account
may be opened. The Bank reserves to itself the right to
refuse to open and account without assigning any reason.
• Each account shall be allotted a distinct number that is to
be quoted in all correspondence with the bank relation to
the account.
• Minimum amount for opening and continued maintenance of
various types of accounts is as follows:
Rs.
Saving 10000
Current 10000

The bank reserves the right to change the above mentioned

minimum balance requirement at any time without any notice.
PROCEDURE TO OPEN AN ACCOUNT

According to my practice in MCB, when a customer wants to open
an account, the bank officer gives him an application form. All
information, which is necessary to be known by the bank, are
requirements of the application form. Form also requires the
essential documents to be attached by the customer.
Basically following information is required to open an account with
MCB.
• Title of Account
• Full Name of Applicant
• Occupation
• Address
• Telephone No.
• Currency of account
• Nature of Business
• Introducer’s Name, Address & Signatures
• Special instruction regarding the account
• Initial Amount of the Deposit
• Signature of the applicant
DOCUMENTS TO BE ATTACHED
Further I learned that if you wanted to open an account with MCB
then you should attach the following documents with your
application form which are different for different categories.
SOLE PROPRIETOR’S ACCOUNT
In order to open an account with MCB Sole Proprietors have to
submit their business registration certificate number.
PRIVATE / JOINT ACCOUTS
For individual or private or joint accounts National Identity Card
is required.

JOINT STOCK COMPANY

Before an account of a Public Limited Company is opened MCB
must ask the person authorized to do so to submit the certified
copies or the following documents
• Certified true copy of the Memorandum and Articles of
Association of the company.
• Certified true copy of the resolution of the board of
directors / managing committee / governing body regarding
conduct of the account.
• Certified list containing names and signatures of the
directors / office bearers.
• Certified true copy of the certificate of incorporation or
registration.
• Certified true copy of the certificate of commencement of
business (in case of public limited companies).
• Balance Sheet
• I.D. Card copy of each director
• Original is also enclosed for inspection and return
• List of persons authorized to operate the account.
• Power of Attorney in favor of the person opening account.
PARTNERSHIP FIRM ACCOUNT

Information which is required to be submitted to MCB by a
partnership firm in this case is as follows:
• Full Names
• Address
• Specimen of signatures of the partners
• Certified true copy of partnership deed
• Registration No. if the Partnership is registered

SOCIETIES / CLUBS AND ASSOCIATIONS ACCOUNT

MCB is authorized to open the accounts of the societies/clubs
and associations, These are non-trading organizations, formed for
the promotion of culture, science, education, recreational
activities and charitable purposes etc. some of these institution
are registered under the Societies Registration Act, 1866, and
are issued a certificate of registration after they have been
found fit for registration.
ISSUANCE OF CHEQUE BOOK

When a customer opens an account with the bank, he is provided
with cheque book for withdrawals from account. However, the
first cheque book is given to the customer only when all the
required documents are checked. A cheque book contains ten,
twenty five, fifty or hundred leaves. The cheque book also
carries a requisition slip for the issuance of the new cheque
book. This slip is duly filled and singed by the customer. The
signature of the customer is verified by the bank and new cheque
book is issued to the customer and serial numbers of the cheque
are duly entered in the book of the bank. Along with the
signature, person should also write his full name & address.
Usually only one cheque book is issued at a time, however big
concerns who need a number of cheque books at a time, may ask
the bank to stock as number of cheque books in their name and to
point their name on these cheque books.
The officer keeps and maintains the cheque book register Cheque
book inventory and cheque books issued are recorded in this
register.
In case of loss of cheque book or requisition slip on cheque book
the customer has to fill the Form No. 216-B to obtain a new
cheque book.

UTILITY BILLS COLLECTION

N
I worked in the utility bills collection department as the MCB
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collects utility bills on behalf of WAPDA, Sui Gas Companies, and
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Pakistan Telecommunication Corporation Limited by putting the
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stamp on the utility bills “Paid”, Date of payment, Signature of
the officer receiving the utility bills. After receiving utility bills a
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list is made on the form which is called Bills scroll form. One copy
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of the scroll is with the bank for evidence whereas the original
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copy with the receipt of the bills is sent to the billing department
of the respective corporation. The bank charge commission on the W

bills. E
E
K

CASH MANAGEMENT
The most important department of MCB which deals in money

(receiving deposits at lower rates and lend them out at higher
rates of interest). This department also called as Chest
Department and manager of it is called Cash Manager or Chest
Manager. In those branches where this department is not
separately existed, the branch manager performs the duties of
the Chest Manager.
The excess cash (More than its insured limit by the insurance
company) of the branches of the region is collected by the main
branch. The main branch is also bound to send its excess cash
(more than its insured limit) to the State Bank of Pakistan. No
branch can have cash its safe more than its insurance at any time
at the time of closing cash, if it is so the manager will be
responsible (not the insurance company) whether or not he
informed to the regional office (exception to the limit which is
insured for the day).
New Notes and Prize Bonds are also part and parcel of the Cash
Management. Keys of the Safe lockers are with the three
authorized persons each one of them is responsible for cash as at
the time of closing the cash the officers including Cash officer
presented and lock the safe after counting and scrutinize the
cash. The cash officer maintain its daily cash book with
specification of notes (Bonds are also recorded in the books in
relation with cash) and other vouchers, after being satisfied the
manager authenticates the books and vouchers regarding cash
with stamp and signature. at the end I would like to conclude that
the cash management is being done in the MCB very effectively.

ADVANCES DEPARTMENT
On my first day of Internship, Manager gives me some advice and

L
told me the ways to success. He told me that if some one wants to
A
get success in banking career then he must have the knowledge of
the one major department of the bank. I.e. Advances. So from
S
very first day I was interested to work in advances department
T
and at my request bank offer me opportunity to work in this
department last two weeks
Bank adopts the following procedure in order to grant a loan. A
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customer applies for a loan to the manager, who says him to give
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details of his property. The details of the proposal and the
photocopies of the document to the title of property are sent to
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the legal advisor of bank. The legal advisor gives his legal opinion
upon the documents. The branch manager, in the light of the
opinion received from the legal advisor, discusses the proposal
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with the advancing manager whether to give or not the loan to the
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applicant. If manager allows granting the loan all the documents
along with request letter are sent to regional office for approval.
E
In the regional office the proposal is analyzed and if the office is
K
satisfied a consent letter prepared which is signed by the
regional controller credit. This letter is sent to the branch
S
manager. After receiving it the manager finance reviews the
consent letter, and prepares a DAC (Disbursement Authorization
Certificate). DAC can be made only for people who have a bank
account.
The following documentation is made for loan.
• An application or request letter for loan by the customer
• Legal opinion of the legal advisor of the bank (for the title
deeds)

• Consent letter from the regional office

• Vetting Certificate (includes consent No., Facility whether
fund based or no-fund based, addresses etc.)
• Valuation of property any consultant or any panel of
consultants approved by State Bank of Pakistan
• Original title deed or sale deed
• Affidavit
• General power of attorney (made by advocate for the
person/owner taking loan for the company)
• Mortgage deed
• Mutation document made
• Verification of the property by the bank from the
competent authority
• Hypothecation of stock certificate (Running is to be given
against 75% margin of stock)
• IB-25R Letter of hypothecation (duly signed by the party)
• IB-12 , DP Note/Promissory Note (Bank prepared itself,
duly signed by the party, revenue stamps of Rs. 100 put on
it)
• IB-6R Agreement of finance mark up (Contract with party
for taking mark up on quarterly basis)
• IB-24 (used for title deed)
• IB-29 (used for guarantee from party)
• IB-26 (used for pledge of stock, margin is different for
different goods)
• No. IB-28 (used for lien) etc.

After that Loan is sanctioned to the party fulfilling all the terms
and conditions for the purpose. The procedure given above is for
both short and long term loans.
Following finances in which Muridke Branch is dealing.

• Running Finance
• Cash Finance (Against Pledge of Stocks of wheat & rice)
• Demand Finance (against Lien On DSC’s)
• Tractor Finance
• Foreign Bills Purchased
• Finance Against Foreign Bills
• Export Refinance I
• Export Refinance II
The exposure of Muridke Branch is more than 500 Million.
I have learnt about the documentation required for the financing.
Major focus on the financing is depending on the account turnover
and collateral offered.
While financing to the fresh client the credit proposal of the
client is elevated to the higher office. The bank’s official get the
applications form the customer and prepare the case for getting
approval for the higher office.
SECURITIES HELD AGAINST FINANCING
FOR RUNNING FINANCE

Hypothecation of Stocks (50% Margin)
Collateral security (house, land, factory etc..)
FOR CASH FINANCE

Pledge of stocks (20 to 25% Margin)

Collateral security (house, land, factory etc..)
FOR DEMAND FINANCE
Lien over Defense Savings Certificate

Lien over Deposits (TDR)
Lien over Foreign Currency deposits
FOR TRACTOR FINANCING
Joint ownership of the Tractor

Collateral security (Agri land)
FOR EXPORT REFINANCE PART I
Lien over export bills drawn under firms order or contracts

Collateral security (house, land, factory etc...)
FOR EXPORT REFINANCE PART II
Hyp & Pledge of Stocks

Lien over EE statement
Collateral security (house, land, factory etc...)

BALANCE SHEET

2008 2009
(Rupees in thousands)
ASSETS
Cash 23665549 23833253
Balance with other banks 1469333 5708323
Lending to financial institutions 9998828 10965297
Investments_ net 69481487 67194971
Advances – net 180322753 137317773
Operating fixed assets 8182454 7999821
Other assets_net 5464426 6154370
Deferred tax assets_net 19196 -------------
298776797 259173808
LIABILITIES
Deposits and other accounts 229345176 221069158
Borrowings from financial inst. 27377502 7590884
Bills payable 8536674 7566684
Other liabilities 8611600 6525999
Deferred tax liabilities ------------- 269498
Sub ordinated loans 1598080 1598720
Liabilities against assets ------------- -------------
275469034 244620924
NET ASSETS 23307763 14552884
REPRESENTED BY
Share capital 4265327 3371800
Reserve 13408005 5661553
Unappropriated profit 210662 165208
17883994 9198561
Surplus on revaluation of assets 5423768 5354323
23307763 14552884
PROFIT & LOSS ACCOUNT

2008 2009
(Rupees in ‘000)
Mark-up/return/interest earned 17756232 9083863
Mark-up/return/interest expensed 2781468 2057640
Net mark-up/interest income 14974764 7026223
Provision against non-performing loans and 1242153 442595
advances
Provision for diminution in the value of (98982) (172876)
investments
Bad debts written off directly 1184 8771
Provision for potential lease losses ---------- 1200
1144355 279690
Net mark-up/interest income after 13830409 6746533
provisions
NON MARK-UP/INTEREST INCOME
Fee commission and brokerage income 2448950 1992356
Dividend income 480344 378908
Income from dealing in foreign currencies 531455 492738
Other income 1084576 576007
Gain on Investments 866895 804478
Gain / Loss on trading in government 851 (11440)
securities
Total non-mark-up/interest income 5413071 4232988
19243480 10979521
NON MARK-UP/INTEREST EXPENSES
Administrative expenses 6459490 7244200
(Reversal) / Other provisions (72740) 149893
Other charges 178841 41864
Total non-mark-up/interest expenses 6565591 7435657
Compensation on delayed tax refund 340598 513850
PROFIT BEFORE TAXATION 13018487 4057716
Taxation – current year 4611359 1555764
Prior years (149763)
Deferred (365524) 70240

PROFIT AFTER TAXATION 8922415 2431532
Unappropriated profit brought forward 165208 195966

Transferred from surplus on revaluation of 83749 25839
fixed Assets
248957 221605

Profit available for appropriation 9171372 2653337

APPROPRIATIONS
Transfer to
Statutory reserve 892241 507999
General reserve 5500000 800000
Capital reserve ----------- -----------
Proposed cash dividend 426533 -----------
Reserve for issue of bonus shares 853065 337180
Interim cash dividend Rs 1.75 per share 649072 337180
Interim cash dividend Rs 1.50 per share 639799 505770
8960710 2488129
Unappropriated profit carried forward 210662 185208
Basic and diluted earning per share after 21.36 7.21
tax
CASH FLOW STATEMENT

2009 2008
(Rupee in 000)
CASH FLOW FROM OPERATING
ACTIVITIES
Profit/(Loss) before taxation 13018487 4057716
Less: Dividend income (480344) (378908)
12538143 3678808
Adjustments for non-cash charges
Depreciation 575538 598928
Amortization – intangible assets 60113 ----------
Provision against non-performing advances 1242153 442595
Provision for diminution in the value of (98982) (172876)
investment
Provision for diminution in the value of (72740) 149593
other assets
Bad debts written off directly 1184 8771
Gain on sale of non banking assets (24664) -------
Loss on sale of fixed assets 22114 (39324)
Provision for potential lease losses ---------- 1200
-
Surplus on revaluation of held for trading (1634) ----------
securities
1703082 988887
14241225 4667695
(Increase)/Decrease in operating assets
Lendings to financial institutions 966469 (534847)
Advances (44248317) (40570180)
Others assets 982933 26142
(455458801) (41422187)
(Increase)/Decrease in operating assets
Bills Payable 969990 (829636)
Borrowings from financial institutions 19786638 (25037087)
Deposits 8276020 9557765
Other liabilities 982933 26142
30015581 (16282816)
(1289074) (53037308)
Income tax paid (1152343) (683995)
Income tax refund ---------- 370208
----
Net cash flow operating activities (2441417) (53351095)
CASH FLOW FROM INVESTING

ACTIVITIES
Net investments in available-for-sale (20301953) 105292873
securities
Net investments in held-to-maturity 16278483 (45878054)
securities
Net investments in held-for trading (66056) --------------
securities -
Dividend received 588153 181258
Investments in operating fixed assets (1029307) (1265675)
Investment in subsidiary and associated (77) --------------
companies
Sale proceeds from non banking assets 589876 --------------
disposed of
Sale proceeds of fixed assets disposed of 127254 81308
Net cash flow from investing activities (1813827) 58411710
CASH FLOW FROM FINANCING
ACTIVITIES
Redemption of subordinated loans (640) (640)
Proceeds from issue of right shares 1390868 --------
Dividend paid (1545483) (818306)
Net cash flow from financing activities (155255) (818946)
Ex. difference in cash transactions in 3805 (56354)
foreign branches
Increase/(Decrease) in cash and cash (4406694) 4185315
equivalents
Cash and cash equivalent at beginning of 29547922 25500460
the year
Effects of exchange rate changes (6346) (144199)
29541576 25356261
Cash and cash equivalents at end of the 25184882 29541576
year
FINANCIAL ANALYSIS
"Financial statement analysis is the process of identifying of

financial strengths and weaknesses of the firm by properly
establishing relationship between the items of the balance sheet
and the profit &loss account," and it is done through ratio
analysis.
RATIO ANALYSIS
Ratio means “one number expressed in term of another a ratio is
statistical yardstick by mean of which relationship between two
or various figures can be compared or measured. Here we are
going to explain the ratio analysis of MCB.
1. PROPRIETARY RATIO
Total equity
= Total Assets
Year 2009 (000) 2008 (000)

Total Equity 23307763 14552884
Total Assets 298776797 259173808
Ratio 0.08 0.06
2. DEBT RATIO/ SOLVENCY RATIO
= Total equity
Total Assets
Year 2009 (000) 2008 (000)

Total Debts 275469034 244620924
Total Assets 298776797 259173808
ratio 0.92 0.94

3. DEBT TO EQUITY RATIO
Total Debt
= Equity
Year 2009 (000) 2008 (000)

Total Debts 275469034 244620924
Equity 23307763 14552884
ratio 11.82 16.81
4. DEBT TO TANGIBLE NET WORTH
= Total Debt
Equity
Year 2009 (000) 2008 (000)
Total Debts 275469034 244620924
Tangible net worth 23058725 14552884
Ratio 11.94 16.81
5. DEBT TO FUNDS RATIO
= Long term Debt

Long Term Funds
Year 2009 (000) 2008 (000)

Long Term Debts 41318331 22455384
Long Term Funds 64626094 37008268
Ratio 0.63 0.60
6. EXTERNAL INTERNAL EQUITY RATIO
= External Equity
Internal Equity
Year 2009 (000) 2008 (000)

External Equity 275469034 244620924
Internal Equity 23307763 14552884
Ratio 11.82 16.81

PROFITABILITY ANALYSIS
1. RETURN ON ASSETS
Net Profit after Tax
= × 100
Total Assets
Year 2009 (000) 2008 (000)

Net Profit after Tax 8922415 2431532
Total Assets 298776797 259173808
return 3.0% 0.93%
2. RETURN ON EQUITY
= × 100
Equity
Year 2009 (000) 2008 (000)

Equity 23307763 14552884
return 38.28% 16.71%
3. RETURN ON INVESTMENT

= × 100
Investment
Year 2009 (000) 2008 (000)

Investment 69481487 67194971
return 12.84% 3.62%

4. RETURN ON FIXED ASSETS

= × 100
Fixed Assets
Year 2009 (000) 2008 (000)
Fixed Assets 8182454 7999821
return 109% 30.39%
5. AVERAGE PROFIT PER BRANCH

= No. of branches
Year 2009 2008

No. of branches 1045 1045
Average Profit 8546375 2329054
6. NET PROFIT MARGIN
= Net Profit after Tax × 100

Interest Income
Year 2009 (000) 2008 (000)

Interest Income 17756232 9083863
return 50.25% 26.77%
7. INTEREST INCOME TO TOTAL INCOME
Interest Income
= × 100
Total Income
Year 2009 (000) 2008 (000)

Total Income 23169303 13316851
return 76.64% 68.21%

8. INTEREST EXPENSE TO TOTAL EXPENSE
= Interest Expense × 100

Total Expense
Year 2009 (000) 2008 (000)

Total Expense 9347059 9493097
Interest Expense 2781468 2057640
return 29.76% 21.67%
9. RETURN ON ADVANCES
Interest Income
= × 100
Total Loans
Year 2009 (000) 2008 (000)

Total Advances/ Loans 180322753 137317773
return 9.85% 6.61%

INVESTOR ANALYSIS
Investor analysis or market analysis are related to firm market

valve, as measure by its current share price to certain accounting
values. Investor analysis includes:
 Earning per share

 P/E ratio
 Dividend per share
 Dividend yield ratio
 Dividend payout ratio
 Break up value/Book value per share
 M/B ratio
1. EARNING PER SHARE

=
No. of Shares
Year 2009 2008

No. of Shares 426532700 337180000
Earning 21 7.21
2. P/E RATIO
MP Per Share
=
EPS
Market price per share is Rs.247.75 on 4th Jan.2009
Year 2009 2008

MP Per Share 247.75 247.75
EPS 21 7.21
ratio 11.80 34.36

3. DIVIDEND PER SHARE
= Total Dividend
No, of Shares
Year 2009 2008
Total Dividend 1288871000 842950000
No. of Shares 426532700 337180000
DPS 3.02 2.5
4. DIVIDEND YIELD RATIO
= DPS
MV Per Share
Year 2009 2008
DPS 3.02 2.5
MV Per Share 247.75 247.75
Ratio 0.012 0.01
5. DIVIDEND PAYOUT RATIO
= DPS × 100
EPS
Year 2009 2008

DPS 3.02 2.5
EPS 21 7.21
Ratio 14.38% 34.67%
6. BOOK VALUE PER SHARE
= Equity
No. of Shares
Year 2009 2008
Equity 23307763000 14552884000
No. of Shares 426532700 337180000
Ratio 54.64 43.16

7. M/B RATIO
= MV Per Share
BV Per Share
Year 2009 2008

BV Per Share 54.64 43.16
MV Per Share 247.75 247.75
Ratio 4.53 5.74
BANK SPECIAL ANALYSIS
Bank ratio analysis is little bit different from other organizations

and if we want to see the real picture of a bank we have to focus
on given special ratios.
 Earning assets to total assets

 Return on earning assets
 Net margin to earning assets
 Loan loss coverage ratio
 Equity to total assets
 Deposit time equity
 Loan to deposit ratio
1. EARNING ASSETS TO TOTAL ASSETS
= Earning Assets
Total Assets
Year 2009 (000) 2008 (000)

Earning Assets 261272401 221186364
Total Assets 298776797 259173808
Ratio 0.87 0.85

2. RETURN ON EARNING ASSETS
= NP before Tax × 100

Earning Assets
Year 2009 (000) 2008 (000)

Earning Assets 261272401 221186364
Net Profit before tax 13018487 4057716
return 4.98% 1.83%
3. NET MARGIN TO EARNING ASSETS
= Net Margin × 100

Earning Assets
Year 2009 (000) 2008 (000)
Earning Assets 261272401 221186364
Net Margin 14974764 7026223
Ratio 5.73% 3.17%
4. LOAN LOSS COVERAGE RATIO
= Pre tax Income + Provision for loan loss

Net Charges off + Provision for loan loss
Year 2009 (000) 2008 (000)
Pre tax Income 13018487 4057716
Provision for Loan Loss 1242153 442595
Net Charges Off 1184 8771
Ratio 11.47 times 9.97 times
5. EQUITY TO TOTAL ASSETS
= Equity
Total Assets
Year 2009 (000) 2008 (000)

Total Equity 23307763 14552884
Total Assets 298776797 259173808
Ratio 0.08 0.06

6. DEPOSIT TIME EQUITY

Debt
=
Equity
Year 2009 (000) 2008 (000)
Total Debts 275469034 244620924
Equity 23307763 14552884
Ratio 11.82 16.81
Assets
Cash and balances

w ith treasury banks
Deferred tax assets Balances with other
Operatig fixed
banks
assets
Other assets
Lendings to financial
institutions
Investments
Advances
Deferred tax
Liabilities against liabilities
Unappropriated
assets subject to
Other liabilities profit
finance lease Reserves
Share capital Borrowings from

Bills payable
Sub-ordinated loans financial institutions
Deposits and other

accounts

Ratios 2008 2009 Comments
Leverage Ratios
Proprietary Ratio 0.06 0.08 Good
Debt Ratio 0.94 0.92 Good
Debt to Equity 16.81 11.82 Good
Debt to Tangible Net worth 16.81 11.94 Good
Debt to Funds Ratio 0.62 0.63 Bad
External Internal Equity 16.81 11.82 Good
Profitability Ratios
Return on Assets 0.94% 3.0% Good
Return on Equity 16.71% 38.28% Good
Return on Investment 3.62% 12.84% Good
Return on fixed Assets 30.22% 109% Good
Average profit Per Branch 2329054 8546375 Good
Investors Ratios
EPS 7.21 21 Good
P/E Ratio 34.36 11.80 Bad
Dividend Yield Ratio 0.01 0.012 Good
Dividend Payout Ratio 34.67% 14.38% Bad
Book valve per Share 43.16 54.64 Good
Bank Special Ratios

Earning assets to Total assets 0.85 0.87 Good
Return on earning assets 1.83% 4.98% Good
Net margin to Earning assets 3.17% 5.73% Good
Loan loss coverage Ratio 9.97 times 11.47 times Good
Equity to Total assets 0.06 0.08 Good
Deposit time Equity 16.81 11.82 Good
Loan to Deposit 62.11% 78.62% Good

Swot Analysis
STRENGTH
MCB is the first Pakistani privatized bank and because of its
quality management, marketing, innovation in products and
services. Owing to all such factors they have established a good
reputation in the banking market. The name of MCB makes you
recall the highly cooperative 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 because of its modern style of banking through fully
computerized control and twenty four hour banking.
The joining of experienced people, advanced management, advance
setup and facilities gave MCB an edge over its competitors.
WEAKNESSES
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 environment 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 individual service
basis.

Mismanagement of time is another big mistake in MCB branches,

the bank official time of closing is 5:30pm but due mismanagent
of time allocation and work the staff is normally on their seats till
7:00 or 8:00 clock.
OPPORTUNITIES
As on December 31, 1998, sixty-eight scheduled banks with 9,106
branches are operating 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 people of
Pakistan are having accounts with banks while 72% are unbaked.
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 business.
THREATS
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 exist one will have to prove himself in its services
through excellent management and will have to 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 investment from the
investors in new projects can create problem for the bank
because it is working a lot in trade.

Suggestions
Bank must let potential customers know that all attractions for
banking exist. This is done by advertising on television and
obtaining press coverage, in conjunction with direct mail, window
displays, leaflet in branches and in appropriate other locations
(such as hotels, shops, etc.) and including leaflets in statement of
accounts sent to existing customers in the hope that they will tell
potential customers about the services provided by our bank.
Financially unsophisticated people might feel bank accounts,

cheque books, credit cards, etc. are difficult to understand and
to keep control thereof.
Some personal sector customers prefer not to come to branch.
They increasingly want to deal with the bank in other ways, such
as home banking or use of Automated Teller Machines (ATMs),
which need to be at the branch or some important shopping
plazas.
It is widely known that there is a substantial Black Economy in
Pakistan, Where people earn income that is undisclosed to the
revenues authorities. Payments for goods and services in the
black economy are necessarily in cash, because transactions by
cheques are more likely to be exposed to the revenue authorities.
Some people will therefore avoid bank accounts to preserve
secrecy of earnings.
One way to retain the personal sector customers is to offer a
wide range of services such as tax advice, free life insurance
equivalent to amount deposited, shares portfolio management,
fund management facility, etc., complimentary to the core
services. Banks must have a slightly different mix of services.
Banks must have a slightly different mix of services and mean of
providing these such that customers can choose the mix that
suits them best.

Arguably, there has been a little encouragement from banks to

persuade people to open a bank account. Opening hours are
restricted, and there is a commonly held belief that banks
operate for their convenience and not for the convenience of the
customers.
Logic leads to promotional campaign through employers who are

customers of the banks and their employees are paid in cash.
Such business accounts should be encouraged to open the
accounts of their employees with the banks. It might be worth
offering free banking for a specific period to new accounts or
simply publicizing the services available by means of posters at
the employer’s premises.
It might be possible to attract another type of personal

customers through business accounts, namely directors and
denier employees, etc. Again an incentive package could be put
together.
The banks may choose to make its existing products distinctive or

to introduce new products. It is often easier to benefit from
adverse changes made by other banks than to attract customers
by innovations.
A short term promotional technique is to offer price incentives,

for example, low interest rates on advances or limited issue high
profit bearing term deposits. Longer term, a Loss Leader may be
offered. For example, profit bearing current accounts are not
very lucrative but any bank can not afford not to offer these.
The reduced profits can be augmented by profits made on other
products.


http://www.sbp.org.pk/
http://en.wikipedia.org/wiki/Muslim_Commercial_Bank
http://www.google.com.pk/search?hl=en&q=+MCB+July+2009
http://www.mcb.com.pk/islamic_banking/profit_rates.asp#
http://www.mcb.com.pk/privilege/product_proposition/current_life_account.asp
http://www.mcb.com.pk

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PROJECT ON MCB BANK LIMITED 03143046412

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 1

PROJECT: BANKING SECTOR

DR. MOHAMMAD KHAN

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 2

Holy Prophet (PBUH)

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 3

No. Title Pages

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 4

According to G.W. Gilbert,

According To Bamkinh Companies Ordinance

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 5

HISTORY OF BANKING IN PAKISTAN

The interesting point which I observed during the span of mine

A) Pre Nationalization Era

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 6

i. Inauguration of State Bank of Pakistan (SBP) on 1st July,

BANK NO.OF BRANCHES DEPOSITS

Allied Bank Ltd. 145 Rs. 570 (million)

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 7

C) POST NATIONALIZATION ERA

b) ABL taken up by its own employees in September 1991.

Category No. Of Banks

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 8

HISTORY OF THE MCB BANK LIMITED

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 9

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 10

MCB BANK TODAY

MCB today, represents a bank that has grown with time,

YEAR 2009 COMPLIANCE

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 11

MCB now focuses on three core businesses namely Corporate,

MCB looks with confidence at year 2010 and beyond, making

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 12

PARTANING WITH OUR CUSTOMER FOR A MORE PROSPER

AND SECURE FUTURE

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 13

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 14

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 15

Mian Mohammad Mansha Chairman

S.M. Muneer Vice Chairman

Mohammad Aftab Manzoor President & Chief Executive

Tariq Rafi Director

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 16

Mohammad Arshad Director

Shahzad Saleem Director

Mian Umar Mansha Director

Sarmad Amin Director

Sheikh Mukhtar Ahmed Director

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 17

ORGANIZATIONAL HIERARCHY OF MCB

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 18

ORGANIZATIONAL SETUP OF MCB

HEAD QUARTER KARACHI

NWFP & AZAD

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 19

MARKETING MIX OF MCB BANK LIMITED

Marketing is the task of creating, promoting and delivering goods

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 20

PRODUCT MIX & PRICES OF MCB BANK

1.MCB Rupee Traveler Cheque

MCB Rupee Travelers Cheques are as good as

MOHI-UD-DIN ISLAMIC UNIVERSITY (AJK) 21

• Zakat will be deducted wherever applicable on yearly basis