MCB Bank is one of the oldest banks of Pakistan and was incorporated in private sector in 1947. It was nationalized in 1974 and privatized in 1991. MCB Bank’s major shareholding is owned by the Nishat Group, a prominent business conglomerate, having diversified interests in Textiles, Cement, Banking, Insurance, Power Generation, Hotel Business, Real Estate, Agriculture, Dairy, Auto Manufacturing and Paper Products. To enter in international capital markets, the Bank launched its Global Depositary Receipts (GDRs) in 2006. It was the first Pakistani Bank that had its GDRs listed on the London Stock Exchange. In 2008, the Bank entered into a strategic partnership with Maybank, Malaysia, which owns 18.78% stake in MCB through Maybank International Trust (Labuan) Berhad. In 2017, Fullerton Financial Holdings (International) of Singapore through Bugis Investments (Mauritius) Pte Ltd acquired 5.49% stake in MCB under merger scheme of NIB Bank with and into MCB Bank Limited. MCB is the first Pakistani Bank which incorporated a wholly owned Islamic Banking subsidiary, MCB Islamic Bank Limited, to meet requirements of a significant segment of society for financial solutions that conform to Shari’ah rulings and demonstrate our confidence in the potential of the Islamic Banking industry in the country.
The Bank operates a strong and vast network of over 1,400 Branches and over 1,350 ATMs in Pakistan and 11 branches overseas with a footprint in UAE, Bahrain and Sri Lanka. With a customer base of over 7 million, MCB leads the banking & financial services sector in Pakistan and customers across the globe have 24/7 access to MCB Bank via our World Class Internet Banking. On a consolidated basis, MCB Bank is operating the 2nd largest network of more than 1,550 branches in Pakistan. The Bank enjoys highest local credit ratings of AAA / A1+ categories for long term and short term respectively, based on PACRA notification dated June 27, 2019.
In 2015, MCB Bank launched its first wholesale banking branch in the UAE. Through this flagship UAE branch, MCB Bank provides customized business solutions, which include business accounts, finance and trade products. MCB Bank UAE aims to address the growing financing requirements of the business community of the region and endeavours to contribute towards further expansion and growth amid the country’s flourishing economy.