MCB Bank named “Best Bank in Pakistan” by British magazine

Karachi, July 23, 2012 (PPI-OT): MCB Bank, for the 9th time has been named “Best Bank in Pakistan” by the highly respected UK based magazine, Euromoney, for the bank’s impressive performance and growth in the year.

Regarded as the flagship awards for financial services globally, Euromoney awards recognize institutions and individuals that demonstrate leadership, innovation, and momentum in the markets in which they excel.

22nd yearly Euromoney awards attracted over 600 submissions from the world’s leading banks and brokerage houses. In deciding on the award winners, Euro money’s dedicated research team and awards panel rated all the submissions on both quantitative and qualitative factors, such as KPIs, financial ratios and innovation, over the past 12 months.

Commenting on why MCB Bank was selected for the award, Euromoney Editor, Clive Horwood, explained, “The bank’s growth and success story has continued in 2011. The bank has shown resilience by managing best banking practices in a challenging economy. Its staff has shown the professional acumen that shielded the bank much better than its counter parts from any shocks.”

He said that MCB Bank provided the lead to all major banks of Pakistan that are now following the trail left by the Best Bank of Pakistan.

The President of MCB Bank, M.U.A. Usmani said, “This award recognizes MCB Bank’s record of strong organic growth, as well as our contribution to the economy and society in Pakistan. Our focus in the years to come will be geared towards building upon the impressive growth that we have achieved to date.”

He said that MCB Bank continued to be best bank in Pakistan once again this year, posting decent numbers across the board in a market that remains in a difficult transition.

He said that the transaction banking division’s performance in particular caught the eye. In consumer banking, the bank’s mobile service has registered more than 145,000 customers in a short time. The bank has also launched the first chip-based debit card in Pakistan. Within the first three months of its commercial launch, the bank has issued more than 50,000 debit cards.

Since 1992 Euromoney, the world’s leading financial markets magazine, has singled out the outstanding institutions in finance. Over the years, the Awards for Excellence have evolved with the markets they cover. They now incorporate 25 global awards for banking and capital markets; and awards for the best banks and securities houses in almost 100 countries around the world.

For more information, Contact:
MCB Bank Limited
MCB Building,
6th Floor, 15-Main Gulberg,
Jail Road,
Lahore.
Te: 111-000-622