Thursday, July 7, 2011

MCB Bank wins CFA Awards, remarkable achievement

MCB Bank Ltd has shown wonderful and excellent working by winning not one but 2 precious awards for “The Best Bank of the Year” and “The Most Stable Bank of the Year” by the Chartered Financial Analyst Association, Pakistan (CFA AP) at the ‘8th CFA Pakistan’s Annual Excellence Awards 2010’.
These awards are considered to be the most precious awards in the investment industry as CFAAP, members belong to different stock exchanges of the country,reputed brokerage houses, banks and other well-known financial institutions of Pakistan, has known reputation for promoting principled and professional standards within the financial services industry brilliantly.
It has laid down strict criteria for the said awards as each candidate must be compliant with Capital Adequacy Ratio (CAR) and Minimum Capital Requirement (MCR) together with the banks should have at least three years profitable history. The best banks were evaluated for profitability, efficiency, growth and solvency with profitability and solvency having 30% weight age each while growth and efficiency have 20% weightage each. MCB also won the Most Stable Bank of the year award by scoring 5.11 points leaving others far behind.
President MCB Bank, M.U.A Usmani told that MCB is the only bank that added more than fifty branches last year and it also has the most ATMs machines running.

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