MCB BANK

The name of convenience

SHABBIR H. KAZMI, Special Correspondent
Sep 11 - Sep 17, 2006

MCB Bank (formerly Muslim Commercial Bank) is one of the leading banks of Pakistan with a deposit base of about Rs 230 billion and total assets of around Rs 300 billion. Incorporated in 1947, MCB soon earned the reputation of a solid and conservative financial institution managed by expatriate executives. In 1974, MCB was nationalized along with all other private sector banks. This led to deterioration in the quality of the Bank's loan portfolio and service quality. Eventually, MCB was privatized in 1991. During the last fifteen years, the Bank has concentrated on growth through improving service quality, investment in technology and people, utilizing its extensive branch network, developing a large and stable deposit base and managing its non-performing loans via improved risk management processes.

Ever since its privatization, the Bank has been investing heavily in the technology. The p[rime objective of this investment is to provide convenience to its customers. Not only that the Bank has been offering innovative products and services, it has also been focusing on retail customers. While the number of account holders is on the rise customer traffic at branches is on the decline. The reason being that now customers can withdraw cash without visiting any branch and at any time.

With an ever growing number of ATMs operating across the country, the MCB ATM network has emerged as the largest and most advanced of its kind in the country. It is part of MCB's continuing efforts to provide customers convenience that suits them the most. Lately, the MCB ATM has gone global. MCB's affiliation with Master Card International brings about added facilities for the MCB traveler abroad with the Cirrus and Maestro networks.

The MCB ATM Regular Card allows withdrawal of up to Rs. 10,000 per day and a maximum of 3 withdrawals per day per card. The MCB ATM Gold Card allows withdrawal up to Rs. 25,000 per day and a maximum of 6 withdrawals per day per card. The cardholder has to make at least two transactions to withdraw the full amount of Rs. 25,000.

NUMBER OF TRANSACTIONS (000)

VARIABLES

Q2 FY 05

Q3 FY 05

Q4 FY05

Q1FY06

Q2FY06

Q3FY06

Electronic

10,571

11,467

13,474

13,928

14,004

15,474

Paper Based

54,257

48,078

53,446

63,727

80,030

72,255

% COMPOSITION

Electronic

16%

19%

20%

18%

15%

18%

Paper Based

84%

81%

80%

82%

85%

82%

AMOUNT OF TRANSACTIONS (BILLION)

VARIABLES

Q2FY 05

Q3FY 05

Q4FY05

Q1FY06

Q2FY06

Q3FY06

Electronic

299

350

404

577

959

1,347

Paper Based

17,959

19,165

16,210

18,187

20,710

23,363

% COMPOSITION

Electronic

2%

2%

2%

3%

4%

5%

Paper Based

98%

98%

98%

97%

96%

95%

The MCB ATM card provides access to cardholder's account from anywhere around the globe. This card is accepted at about 635,000 locations where there are Master Card or Cirrus logos. ATM allows the cardholder a daily withdrawal limit of US$ 200 (or equivalent in other currencies) on availability of funds in his/her account. Additionally there is convenience of shopping through over 5 million Maestro POS (Point of Sales) terminals globally.

MCB Bank has the largest ATM Network in Pakistan with more than 200 ATMs and over 300 online branches. The MCB ATM card can be used in over 35 cities in Pakistan. Whether one want to withdraw cash or ask for a mini-account statement or even use it as a debit card at Maestro POS terminals, the Card offers instant access to cardholder's bank account, anytime, anywhere.

The M-NET enables all the member banks to share their electronic networks. This allows customers of member banks to use MNET as well as 1-Link ATMs throughout the country. MNET member banks ATM machines accept cards issued by MCB Bank, Citibank, Standard Chartered, HSBC, My Bank, Bank of Punjab, Prime Commercial Bank, Saudi Pak Bank, Habib Bank AG Zurich, Metropolitan Bank and First Women Bank. M-NET customers can use over 600,000 ATMs worldwide that carry the Master Card logo and shop at over 5 million outlets that carry the Cirrus logo.

M-Net switch has currently over 400 ATMs in 50 cities in Pakistan. It is considered to be one of the largest networks for secure online real time financial transactions. MCB plan to have the network grow in faster pace in future as MCB itself will be adding more machines. The ATM deployment has been planned in such a manner that a customer will be only a few minutes away from an ATM in major cities. This coupled with geographic coverage provides the largest convenient spread in the country. The Bank is strongly concentrating on diverse coverage and convenience.

M-Net Switch ATMs are present in all the major cities of the country. They are available in the hilliest and northern areas of the country such as Murree, Abbottabad and Swat etc. thus providing convenience of accessing 24 hours cash to the customers across the country. M-Net switch also has its Service Centers in the main cities of the country providing support to member banks customers. M-Net Switch ATMs are also present at the three main Airports of Pakistan, Jinnah Terminal (Karachi), Allama Iqbal International Airport (Lahore) and Islamabad International Airport.

MCB now brings you MCB SmartCard a secure and convenient instrument of payment with unmatched functionalities. It provides 24-hour direct access to your bank account. The convenience and flexibility of MCB SmartCard allows the cardholder to live a smarter life. It not only helps him/her manage expenses, but also eliminates undue interest on day to day credit card transactions. The balance is always within reach and allows spending accordingly. MCB is the only bank to introduce a debit card that gives the option to choose from domestic and international cards for local and global usage respectively.