The MCB Bank has proven its great success as it stands tall by winning not one, but two precious awards for “The Best Bank of the Year” and “The Most Stable Bank of the Year” by the Chartered Financial Analyst Association, Pakistan (CFAAP) at the “Eighth CFA Pakistan’s Annual Excellence Awards 2010”, a statement said on Monday.
The CFA Annual Excellence awards are considered to be the most precious awards in the investment industry as CFAAP with members in different stock exchanges, brokerage houses, banks and other financial institutions, has known reputation for promoting principled and professional standards within the financial services industry, it said.
CFAAP has set strict criteria for the awards as each candidate must be compliant with the Capital Adequacy Ratio (CAR) and Minimum Capital Requirement (MCR) together with the banks should have at least three years profitable history.
The MCB Bank won the best bank award under the category of large banks by gaining 1.15 for profitability, 0.94 for efficiency, 0.93 for growth and 1.74 points for solvency with the weighted average score of 4.77. The MCB Bank also won the Most Stable Bank of the Year Award by scoring 5.11 points.
MCB Bank President M U A Usmani congratulated the entire team of the bank on the great achievement and dedicated the success to the honest and hard working employees working vigorously to make the MCB Bank the best bank of Pakistan.
“MCB Bank has the highest profit-before-tax among all the banks of the country in 2010 and was the only bank to add more than 50 branches to its network last year, while it also has the most ATMs in the country now after recent enhancement in IT infrastructure,” the statement quoted Usmani as saying.
0 comments:
Post a Comment