Individual Project # 1
Raza Mustafa – 070742/ BBA 8th- B
Sir Manzoor Awan
Dated: 4th Mar 2011
1. INTRODUCTION AND BRIEF HISTORY:
MCB Bank Limited was incorporated by the Adamjee Group on July 9, 1947, under the Indian Companies Act, VII of 1913 as a limited company. The bank was established with a view to provide banking facilities to the business community of the South Asia. The bank was nationalized in 1974 during the government of Zulfikar Ali Bhutto. This was the first bank to be privatized in 1991 and the bank was purchased by a consortium of Pakistani corporate groups led by Nishat Group. As of June 2008, the Nishat Group owns a majority stake in the bank. The president of the bank is M.U.A Usmani.
Founded in 1948, Nishat Group is one of the leading and most diversified business groups in Pakistan. The group has strong presence in the most important business sectors of the country such as banking, textile, cement and insurance.
Mian Mohammad Mansha is the Chairman of the group (and also MCB) and has played instrumental role in its success. In recognition of Mr. Mansha’s contribution, the Government of Pakistan has conferred him with "Sitara-e-Imtiaz", one of the most prestigious civil awards of the country.
2. CREATING COMPETITIVE ADVANTAGE:
| | |Vision Statement | |[pic] | |To be the leading financial services provider, partnering with our customers for a more prosperous and | |secure future. | | | |Mission Statement | |[pic] | |We are a team of committed professionals, providing innovative and efficient financial solutions to create| |and nurture long-term relationships with our customers. In doing so, we ensure that our shareholders can | |invest with confidence in us. | | |
➢ STRATEGIC GOALS:
a) Financial goals: Main financial goals of MCB are:
1. To earn profit.
2. To provide services to their customers and assistance in the development of commerce and trade.
3. To maintain reserves
4. Interest Rates & Credit Expansion
5. spread on PKR investments
b) Non-financial goals:
1. High performance
2. Innovation and growth
3. MCB also have another responsibility to give service to their communities. It watches the growth and development of his community especially the commerce and business of the area.
4. SERVICE is our ideal. We owe it to our clients, to the banking public, to the nation. They deserve no less. At MCB Service means:
The Board of Directors and the Management of MCB are pleased to announce an excellent performance in year 2001. The year 2001 posed a tough operating environment in which the Bank due to its inherent strengths and hands on management was able to post...