The Muslim Commercial Bank (MCB) has again received the esteemed Euromoney Award for the "Best Bank in Pakistan". It is the only bank to receive the Euromoney Award for Excellence for the fifth time in six years.
The prestigious banking award was conferred on the MCB in a ceremony held in London which was attended by the distinguished bankers representing leading banks and financial institutions of the world. MCB President and Chief Executive Mohammad Aftab Manzoor received the award.
MCB continues to expand its retail and corporate banking with diversified products and services portfolio. The Bank continuously endeavours to achieve leadership in innovation and customer convenience. Its emphasis had always been on multi-delivery channels. Along with its easily accessible branches, the bank provides the largest network of automated teller machines (ATMs) and the most comprehensive Internet banking solution.
It is also the largest issuer of plastic with the largest share in ATM and debit transactions in the country.
The Bank has made strong inroads in the corporate banking arena, having closed some large deals and a number of large transactions, including advisory business, besides actively participating in various syndicated arrangements.
It has also provided innovative cash management solutions and structured financing activities to a large number of top corporations of the country. In the low interest rate environment of the last year, MCB introduced various initiatives to increase its fee-based income and has successfully managed to show growth in its bottom line. It has ended the monopoly of select foreign banks in the areas of hedging and derivative products by offering innovative solutions to the corporate clients.
Parallel to the traditional mode of banking, MCB has also been expanding its Islamic banking operations across the country. It has also been active in debt and equity markets, which also contributed a significant share in its profit growth.
The consistency with which the Bank has been receiving international accolades makes MCB truly the best bank in Pakistan.-PR