May 2005: MCB has once again received the award of the “Best Domestic Commercial Bank in Pakistan” from Asia Money. This is the second consecutive year that the bank has earned this prestigious award for its leadership position in the banking industry of the country.
The award has been conferred up on the Bank for its consistent growth and staying ahead of the increasing competition. Asia Money commends the Bank’s strategy of focusing on fee based income by expanding its investment banking and cash management services at the time of low interest rates during the past year to increase its revenue and profitability. It further elaborates that the Bank has introduced several new derivative and hedging products for its corporate clients, which were previously offered only by a few foreign banks. It added that now Pakistan’s top corporates depend on MCB to provide first rate syndicated lending services.
MCB is the only bank that has received two Asia Money Awards for the best domestic bank in Pakistan besides four Euromoney Awards in the last five years for “The Best Bank in Pakistan” in recognition of its consistent and enviable performance.
