MCB Bank Limited

Change of name to MCB Bank Limited

In year 2005, the name of the bank was changed from "Muslim Commercial Bank Limited" to "MCB Bank Limited". This need was felt because the bank was already known and popular as "MCB" among its clients and the public, and most people would refer it to as MCB instead of its full name.

Maybank's acquisition of 20% stake in MCB

In 2008, the Maybank (Malaysia) announced acquisition of 20% of stake in MCB Bank Limited’s equity by purchasing a little more than 94 million ordinary shares from the Nishat Group.  This transaction amounted to MYR 2.17 billion (US$686 million) in value. Price paid by the Maybank was Pak. Rupees 470 per ordinary share of MCB.  As per Maybank, “The acquisition is in-line with Maybank’s strategy, as Malaysia’s financial services leader in the region, to build its presence in key growth markets across the region.”

Islamic Banking Business

In year 2000, the bank established its Islamic Banking Business Group and opened its first branch in 2003, by 2014 the Islamic Banking network had grown to 34 branches.  This was in addition to and separate from bank's 1,100 conventional banking branches.  In 2015, given the potential of Islamic Banking business, the bank proceeded to establish an independent but wholly owned subsidiary bank named "MCB Islamic Bank Limited", referred to as "MIB "in short.  MCB Bank Ltd appointed Raza Mansha as its first Chairman of the Board of Directors and Ali Muhammad Mahoon as the first President of the MIB.

Credit rating

Long Term Credit Rating of MCB Bank Ltd is June 19, 2017, maintained at AAA [Triple A] and Short-Term Credit Rating of the bank is maintained at A1+ [A one plus] by Pakistan Credit Rating Agency (PACRA).