This report is about bank, history and functions contains what I have learned in my six week internship at MCB (Ltd). It starts with its success story and brief introduction of management. This report contains detail about business practices in MCB, its current financial statement, position, working of its different departments in MCB Gojra Branch and about of how a letter of credit is used in bank. The purpose of exercise was to learn while working in practical field, especially the knowledge related to the general banking.
This report contains its consumer products, SWOT analysis and at last conclusion and recommendations.
MCB-ITS SUCCESS STORY
MCB Bank Ltd. Unfolds 52 years’ growth. MCB is not an overnight success story. The bank started corporate life in Calcutta on July 9, 1947. After the partition of the Indo-Pak Subcontinent, the bank moved to Dhaka from where it commenced business in August 1948. In 1956, the Bank transferred it Registered office to Karachi, where the Head Office is presently located. Thus, the bank inherits a 52-years legacy of trust in its customers and the citizens of Pakistan.
In January 1974, the government of Pakistan nationalized MCB following the banks Act 1947; Premier bank Limited merged with MCB.
A wave of economic reforms swept Pakistan in the late 1990, introducing the need for privatization of state owned banks companies. In April 1991, MCB became Pakistan’s first privatized bank. The government of Pakistan transferred the management of the Bank to National Group, a group of leading industrialists of the country by selling 26% shares of the bank. In term of agreement between the government of Pakistan and the National group, the Group, making their holding 50% has purchased additional 24% shares.
MCB Bank Limited TODAY
MCB today, a represents a bank that has grown with time, experience and Pakistan. A major financial institution, in scope...