Mybank Limited has an authorised capital of Rs 7 billion with a paid up capital of Rs 2 billion, to be raised to Rs 3 billion by the end of third quarter 2006. It has broken all previous records ever set in the country by any of its peer banks including the increase in the number on deposits, advances, profit and all other financial ratios from 2005 until now.
The name changed from Bolan Bank Limited to Mybank Limited became effective from July 4, 2005. Mybank Limited has a 50-branch network throughout the country. Acquired by leading entrepreneurs of the country on March 4, 2004. Mybank Ltd was taken up as a challenge by the new and well-experienced senior management comprising foreign bankers in November 2004.
This new and dynamic team has brought in decisive leadership, professional management style and visionary strategic direction, which has been the formula of a true success story in the banking industry.
Mybank Limited has achieved a two-notch upgrade in its 'Long Term Credit Rating' in 2005 within a year, after its new ownership assumed charge. The bank for the first time in its history declared a cash dividend for the first quarter of 2006.
The new management has rebuilt the image of the organisation by providing excellent customer services, refurbishing and renovating their branch network and offices, including branch relocation to some strategic areas such SITE Industrial Area and the Karachi Stock Exchange boosting its clientele base.
It is implementing the world-renowned, UK based core banking and front-end IT system, MISYS to further automate its operational processes. The bank has also been investing in Human Resources by hiring qualified, professional MBAs and extending training to them from reputable banking institutes such as the Institute of Bankers of Pakistan.
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