INTERNSHIP REPORT

MCB Bank Ltd.

hShahdara mor Branch, Lahore.

PRESENTED TO: IMTIAZ ALI

PRESENTED BY: MARYAM AGHA
B.COM (Hnrs)
SESSION

: 2009-2013

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB
Hailey College Of Commerce University Of The Punjab

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Dedication & Acknowledgements

I dedicate this internship report to my parents. Because of their
prayers and encouragement I have been able to complete this
report.

Praise is to Allah, the most Gracious and Merciful, who blessed

me with the knowledge and wisdom and enabled me to overcome
this task. Heartiest gratitude to my parents without their
continuous encouragement and love I could not have
accomplished this task.

I am also very grateful to all the staff members at MCB Shahdra

Morh Branch Lahore.

Executive Summary
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MCB Bank Limited (Formerly Muslim Commercial Bank Limited) has a solid
foundation of over 50 years in Pakistan, with a network of over 900 branches,
over 750 of which are Automated Branches, over 222 MCB ATMs in 41 cities
nationwide and a network of over 12 banks on the MNET ATM Switch.

MCB's operations continued to be streamlined with focus on rationalization of

expenses, re-alignment of back-end processing to increase productivity,
enhancement of customer service standards, process efficiency and controls.
The Bank has taken the lead in introducing the innovative concept of
centralizing Trade Services in the country by providing centralized foreign
trade services to branches with a view to improve efficiency, expertise and
reduce delivery cost.

During my internship in MCB I worked in Remittances, Advances, Foreign

Exchange and Customer Service Office department and I successfully
completed all the task/duties that were assigned to me.

During the course of internship I learned about different functions performed

by Remittances, Advances, Foreign Exchange and Customer Service Office
department and bank as a whole. I also learned banks correspondence with
their customers and within branches. I learned about documentation
requirements and record keeping for different activities and processes,
especially the documentation requirement for different kinds of financing
facilities.

Table of Contents
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About the Organization

1. MCB in Brief

05

1.1. History

05

1.2. The Mission

06

1.3. The Business

06

2. Principles of Performance

06

2.1. Customer Focus

06

2.2. Quest for Quality

06

2.3. Employees Respect

06

2.4. Team Based Approach

07

2.5. Good Corporate Citizenship

07

3. Corporate Information

07

4. Management Committee

09

Chapter 2

Business Operations
1. Banking Sector Overview

09

2. MCBs Performance Overview

10

3. Products and Services

11

3.1. Personal Banking

11

3.2. Corporate Banking

14

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3.3. Online Services

15

3.4. Virtual Banking

16

3.5. Islamic Banking

17

4. MCBs Competitive Strategies

17

Chapter 3

Learning asa Student

1. Duties & Accomplishments

18

Ratio analysis

23

Bibliography

24

About the Organization

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1.MCB in Brief
1.1. History
MCB Bank Limited (Formerly Muslim Commercial Bank Limited) has a solid
foundation of over 50 years in Pakistan, with a network of over 900 branches,
over 750 of which are Automated Branches, over 222 MCB ATMs in 41 cities
nationwide and a network of over 12 banks on the MNET ATM Switch, which
as a combination is considered to be the core competence of MCB.
MCB has become the only bank to receive the Euro money award for the
fourth time in the last five years. MCB won the "Best Bank in Pakistan" in
2005, 2004, 2003, 2001, and in 2000 the "Best Domestic Bank in
Pakistan" awards. In addition, MCB also has the distinction of winning the Asia
Money 2005 & 2004 awards for being "The Best Domestic Commercial Bank
in Pakistan".
Ten years after privatization, MCB is now in a consolidation stage designed to
lock in the gains made in recent years and prepare the groundwork for future
growth. The bank has restructured its asset portfolio and rationalized the cost
structure in order to remain a low cost producer.
MCB now focuses on three core businesses namely Corporate, Commercial
and Consumer Banking. Corporate clientele includes public sector companies
as well as large local and multi-national concerns. MCB is also catering to the
growing middle class by providing new asset and liability products. MCB looks
with confidence at year 2005 and beyond, making strides towards fulfillment of
its mission, "to become the preferred provider of quality financial services in
the country with profitability and responsibility and to be the best place to
work".

1.2. The Mission

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To become the preferred provider of quality financial services in the country

with profitability and responsibility and to be the best place to work.

1.3. The Business

MCB is in its over 50 years of operation. It has a network of over 900
branches all over the country with business establishments in Sri Lanka and
Bahrain. The branch break-up province wise is Punjab (57%), Sindh (21%),
NWFP (19%) and Baluchistan (3%) respectively.

2.Principles of Performance
2.1. Customer Focus
Over the years MCB has developed strong relationships with its customers by
understanding their needs and treating them with respect, dignity and
importance. The driving force behind its commitment and services is its focus
on customers, ensuring that it not only meets, but exceeds their expectations.

2.2. Quest for Quality

MCB strives to achieve excellence by ensuring that every moment of our time
is spent in adding value, making sure that we do things right, first time, and
every time. With this quest for quality, MCB has always taken initiatives in
bringing banking into a new arena; from cash to the convenience of plastic;
from branch banking to internet banking and from face-to-face customer
interaction to online accessibility.

2.3. Employees Respect

MCB encourages diversity and treat each of our employees with fairness.
MCB gives constructive feedback for their continuous development and seek
suggestions from all employees for further improvement. The bank ensures
that quality performance is acknowledged and rewarded and exercise utmost
responsibility in decision-making with regards to our employees.

2.4. Team Based Approach

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MCB believes in achieving its Mission and Vision by working together as a

combined group. MCB treats its employees as its internal customers and
ensure that the requirements of internal customer focus are always met.
Equipped with in-depth product knowledge, and recognizing the strengths in
each individual, the bank strives for optimum-results from our co-workers and
bringing out peak performances by working towards common goals and
objectives in today's dynamic banking environment.

2.5. Good Corporate Citizenship

MCB seeks to continuously improve the quality of life in our communities. The
bank realizes that it has a responsibility to the society in which it operates and
it seeks ways of playing a positive role for the betterment of the community at
large for a progressive environment, better living and a brighter future.

3.Corporate Information
Board of Directors

Mian Mohammad Mansha

Chairman

S.M.Muneer
Vice Chairman

Tariq Rafi
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Mohammad Arshad
ShahzadSaleem
Sarmad Amin
MianUmerMansha
Aftab Ahmad Khan
AtifYaseen

Mohammad AftabManzoor
President & Chief Executive

Advisor

RazaMansha

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Audit Committee

Mian Mohammad Mansha

Chairman
MianUmerMansha
Member
Aftab Ahmad Khan
Member

Chief Financial Officer

Ali Munir

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Company Secretary

Tahir Hassan Qureshi

Auditors

A.F.Ferguson& Co.
Chartered Accountants

Riaz Ahmed & Co.

Chartered Accountants

Legal Advisors

Mandiwalla&Zafar
Advocates & Legal Consultants

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Registered Office

MCB Building, F-6 / G-6,

Jinnah Avenue, Islamabad.

Principal Office

MCB Tower
I.I. Chundrigar Road, Karachi.

Registrar's and Share Registration Office

THK Associated (Pvt.) Ltd.

Shares Department, Ground Floor,
Modern Motors House
Beaumont Road, Karachi.

4.Management Committee
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from left to right
M.U.Usmani Malik Abdul Waheed Salman Ahmed Usmani Ali Munir
Mohammad
AftabManzoorShahidSattarAneeqKhawarShoaibQureshiMusaddiqIjazZafarAbrar
NaqviAamer Hassan Zaidi

Business Operations
1. Banking Sector Overview
Financial sector in Pakistan is going through a fast-paced transition as new
groups were buying out foreign banks operations in Pakistan. The number of
listed banks is also increasing. While the income from core banking activity
has increasing due to higher business volume, earnings are also expected to
improve due to ventures into consumer finance, housing finance and
enhanced lending to the agriculture sector.
In just four years the banking industry has expanded tremendously and now
there are more than two dozen commercial and investment banks operating in
the country. Commercial banks in the private sector had performed well since
their inception, registering overall growth in the deposit base and profits. The
banks also managed to maintain a healthy credit portfolio.
Foreign banks have a strong presence in all major cities and are targeting
high net worth individuals and blue chip companies. Their strategy is quite
successful as they account for about 34 percent of total sector profits, despite
having only 15 percent of deposits and 16 percent of advances.

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During the first six months of the ongoing fiscal year, total assets of all the
scheduled banks increased by Rs 239 billion. Total assets grew by 8.5 percent
from Rs 2,800 billion in June 2004 to Rs 3,039 billion in Dec 2004. During the
first six months of 2004-05, there was also an increase of Rs 277 billion in the
net advances of the scheduled banks. Net advances grew by 19.3 percent
from Rs 1,437 billion in June 2004 to Rs 1,714 billion in Dec 2004.

2. MCBs Performance Overview

The first half of 2010 was very promising for MCB, as the bank has achieved
pretax profits of PRs. 4.2 billion, compared with PRs. 2.2 billion for the same
period in 2009. Profit after tax has more than doubled compared to the
corresponding period for 2009 and exceeds PRs. 3 billion highest ever
profit in the history of MCB. This translates into earning per shares of PRs.
7.43.
Advance and deposit increased to PRs. 156 billion and PRs. 241 billion
reflecting a growth of 14% and 10% respectively. Additionally the banks
assets expanded by 16% during the half year ended 2010 and crossed PRs.
300 billion marks.
Banks equity (capital and reserves) increased by 41% during the half year,
which was due to the issue of right shares and retained earnings. Increase in
equity would improve the lending limit and would provide the opportunity for
significant growth of the banks balance sheet. This would also help to meet
the capital requirement under Basel Accord II, which will be effective from
2008.
Based on continuing growth and consistently outstanding performance, MCB
has once again received the Euro money Award 2005 for the Best Bank in
Pakistan. MCB has become the only bank to receive the Euro money Award
for Excellence for the fifth time in last six years. In addition, Asia Money has
also declared MCB as The Best Domestic Commercial Bank in Pakistan for
the year 2005.

3.Products and Services

3.1. Personal Banking
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Deposit Accounts
KhushaliBachat Account
KhushaliBachat Account, a Rupee savings account is one of MCB
Banks most popular products. Due to the low initial deposit, the account
can be opened by people from all walks of life and still avail the facility
of daily product profit calculation.
MahanaKhushaliBachat
MCB Monthly Khushali Scheme provides you with a steady income
every month. Just purchase a Monthly Khushali Certificate and you will
enjoy a steady income of your total deposit every month.
Pak Rupee Savings Account
MCBs Pak Rupee Savings Account offers you attractive returns on your
Pak Rupee investment.
In addition, you have access to a countrywide ATM network convenient
cash accessibility 24 hours a day. The facility also provides you with
unlimited daily transactions with a limit on maximum withdrawal amount
through the ATM machines.
Pak Rupee Current Account
MCBs Pak Rupee Current Account offers you the convenience of
unlimited withdrawals i.e. access to your funds whenever you want
without any notice. There is no limit on the number of transactions you
make in a day plus you can avail finance facility up to 75% of the total
deposit.
In addition, you have access to a countrywide ATM network convenient
cash accessibility 24 hours a day. The facility also provides you with
unlimited daily transactions with a limit on maximum withdrawal amount
through the ATM machines.
Pak Rupee Term Deposit

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MCB Pak Rupee Term Deposit gives a higher rate of return. It gives you
choice of 1 month, 3 months, 6 months, 1 year, 2 years, 3 years, 4
years and 5 year term deposits.
Saving 365
The MCB Saving 365 calculates profits on a daily product basis and
gives you the facility of unlimited withdrawals.
Foreign Currency Savings Account
MCBs Foreign Currency Savings Account offers you attractive returns
on your Foreign Currency investment.
You can invest in any of the four currencies i.e. US
Dollar, UK Pound Sterling, Japanese Yen or Euro
Your foreign currency account is exempted from Zakat
and withholding tax
Foreign Currency Current Account
MCBs Foreign Currency Current Account offers you the convenience of
unlimited withdrawals i.e. access to your funds whenever you want
without any notice. There is no limit on the number of transactions you
make in a day.
MCB Foreign Currency Term Deposit
MCB Foreign Currency Term Deposit gives a higher rate of return. It
gives the choice of 1 month, 3 months, 6 months, 1 year, 2 years, 3
years, 4 years and 5 year term deposits.
Dollar Khushali Account
The Dollar Khushali Account, a Dollar based account was introduced in
1993 at selected MCB Bank branches. Today, you can open a Dollar
Khushali Account at over 200 branches in Pakistan.

Loan Products
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MCB Business Sarmaya

MCB Business Sarmaya is the best Running Finance facility against
your residential property which empowers you to manage your business
dealings better. So act today and get MCB Business Sarmaya and thus
improve your business, avail lucrative opportunities and expand your
business, with absolute satisfaction of cash flows.
MCB Car4u
Life is like a chess board. You plan your career options. You analyze
your business moves. But when you really want to improve your life, you
make a power move. MCB CAR4U Auto Finance is the power move that
assists you in more ways than you ever imagined. It is affordable, with
lowest mark up, flexible conditions, easy processing and above all, no
hidden costs.
MCB PyaraGhar
Some destinations require a long wait. Like waiting for a home of your
own. But with MCB PyaraGhar it is now easy to step into your home and
start living a real life.
MCB PyaraGhar is an ideal Home Finance from your own bank that lets
you Purchase, Renovate or Construct your home the way you have
always wanted. Having your own home was never so easy
Easy Personal Loan
MCB Easy Personal Loan provides you with the financial advantage to
do things you've always wanted to but never had the sufficient funds for.
Take that much-needed holiday. Buy a car. Refurnish your house.
Purchase a new TV. Finance a better education for your children.
MCB Master Card
Since the beginning of time, people have tried to find more convenient ways to
pay, from gold to paper money and cheques. Today, money is moving away
from distinct hard currencies and towards universal payment products that
transcend national borders, time zones, and, with the Internet, even physical
space. Plastic or "virtual" money, credit, debit, and electronic cash products,
inevitably will replace cash and cheques as the money of the future.
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MCB Rupee Traveler's Cheques

MCB Rupee Traveler's Cheques were first introduced in 1993 as safe cash for
traveling and travel related purposes. The product has been extremely
popular and is preferred over cash by customers while traveling and in all
walks of life.
MCB Rupee Traveler's Cheques- The safest way to Carry Cash

3.2.Corporate Banking
Cash Management Services
MCBs network of over 900 branches in Pakistan enables it to collect and
disburse payments efficiently with its cash management services. This also
enables it to offer you a choice of paper based or electronic fund transfer
solutions including collection amounts, cross branch on- line transactions etc.
Working Capital Loans
Based on the customers specific needs, the Corporate Bank offers a number
of different working capital financing facilities including Running Finance,
Cash Finance, Export Refinance, Pre-shipment and Post- shipment etc. Tailormade solutions are developed keeping in view the unique requirements of
your business.
Term Loans
MCB offers Short to Medium Term Finance to meet capital expenditure and
short term working capital requirements of our customers. The loans are
structured on the basis of underlying project characteristics and cash flows of
the business.

Trade Finance Services

Under Corporate Banking MCB offers trade finance services that include an
entire range of import and export activities including issuing Letters of Credit
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(L/Cs), purchasing export documents, providing guarantees and other support

services.

3.3.Online Services
MCB ATM Services
With a solid foundation of over 50 years in Pakistan, with more than 750
automated branches, 269 online branches, over 222 MCB ATMs in 41 cities
nationwide and a network of over 12 banks on the MNET ATM switch, MCB is
positioned at the forefront of the banking industry in Pakistan. This success
has been possible because of a never-ending drive to achieve higher levels of
excellence, constantly striving to raise the level of performance.
MCB Mobile Banking
At the forefront of technological excellence, MCB proudly introduces MCB
MOBILE BANKING. The convenience of accessing your account balance
information and mini statements whenever you want or wherever you may
need them, with comfort and peace of mind.
MCB Call Center
Keeping up with banking services can be tedious but not with MCB Bank,
where phone service is at your fingertips. Just dial our Call Centre from the
comfort of your home or office or wherever you happen to be. It offers basic
banking services for your convenience, eliminating the need for you to make
unwanted trips to your branch.
MCB Smart Card
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 will help you live a smarter
life. It not only helps you manage your expenses, but also eliminates undue
interest on your day to day credit card transactions. Your balance is always
within your reach and you spend accordingly.

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MCB Debit Card

Now MCB brings a secure, convenient and quick payment facility that enables
you to do purchasing by using your existing MCB ATM / MCB Smart Card as a
DEBIT CARD.
3.4.Virtual

Banking

MCB Virtual Internet Banking offers you the convenience to manage and
control your banking and finances when you want to, where you want to.
MCBs Virtual Internet Banking facility is simple and secure. And its free of
cost. With MCB Virtual Internet Banking you can access any of the banking
services, 24 hours a day, 7 days a week and throughout the year.
MCB Virtual Internet Banking offers a wide range of online services which
makes your banking accessible anytime and from anywhere.
Detailed Account Summary of all listed accounts.
Mini-statements of each of the listed accounts showing recent
transaction history for that account(s).
Statement-by-Period of each of the listed accounts, based on the period
specified.
Immediate or Scheduled Transfer of Funds between your own accounts,
as well as to third-party accounts setup as beneficiaries, maintaining
accounts with MCB.
Scheduling of One-Time as well as Recurring Funds Transfers.
Payment of utility bills for registered Utility Companies.
Immediate or Scheduled Bills Payment.Scheduling of One-Time as well
as Recurring bill payments.Option for Full or Partial payment based on
the payment conditions specified by a particular Utility Company.
Bulk Salary Transfer for Corporate Customers, to facilitate them in
paying salary to the corporate employees, who maintain accounts with
MCB.
Bulk Funds Transfer for Corporate Customers.
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Cheque Book Request for any of your listed accounts.

Payment/Transfer Alerts for reminding, in advance, prior to the
processing of specified payments and transfers.
Personal Alerts for reminding of pre-specified events and occasions.

3.5. Islamic Banking

Deposit Schemes
For customers who are looking for a deposit opportunity where they can
purse their funds and reap halal returns on it, we offer the following products:
Al-Makhraj Saving Account
Al-MakhrajIanat Account
Al-Makhraj Term Deposit
Fund Based Facilities
Ijarah Products
MCBs Islamic Ijarah, analogous to the English term 'leasing, is based on the
IjarahwaIqtina concept which means the sale of the asset to the lessee after
the Ijarah has matured. Under this scheme, MCB will be the owner of the
asset, and the customer (lessee) will be given the asset to use for a certain
period of time in return for monthly rental payments. MCB will give a separate
unilateral undertaking that it will offer to sell the asset to the customer (lessee)
at the maturity of the Ijarah agreement at a price that may be equal to the
security deposit amount, hence the term WaIqtina.

Types of Ijarah
o Car Ijarah
o Equipment Ijarah
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Learning as a Student
1. Duties & Accomplishments
During my internship in MCB from 13 august 2012 to 24 september I worked
in Remittances, Advances, Foreign Exchange and Customer Service Office
department and I successfully completed all the task/duties that were
assigned to me.
The duties that I performed and the thing I learned each day are given as
follows:
Learned basic operations of remittance
department
Learned how to make entries and vouchers for
Incoming TT(Telegraphic Transfer)
Made vouchers and entries for Incoming TT
Observed other operations e.g. PO (Pay Order),
DD (Demand Draft)
Learned bank charges for PO, DD, TT& MT
Made few Outgoing TT
Learned & Made Inter-Branch Credit
Advices against the checks received from outer city
branches
Learned about the payment against PO & DD
received from other branches (usually the first activity
in the remittance dept.)
Learned how to issue a PO
Made entries against the TT and MT in the Day
Book
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Made Incoming and Outgoing TT

Made Inter-Branch Credit Advices against the
checks
Made Debit vouchers against the TT, PO & DD
charges
Made Credit vouchers (contra) against the TT,
PO & DD charges
Learned Incoming & Outgoing TT Entries in the
Daily Voucher Record Sheet
Learned basics of Remittance Software System
Learned about different Stamps on the PO
Learned and made entries and vouchers against
Incoming MT
Issued Credit Advices against DD
Learned PO and DD issuance in detail
Made the entries against Intercity Received
Checks
Learned how to make cancellation entries in the
Remittance Software System in case of any
discrepancy
Learned how to cancel a DD
Issued Credit Advices against DD
Made Inter-Branch Credit Advices against the
checks
Made entries in the Day Book

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Learned about the entries against Monthly

Installment for Car Financing
Learned about the different documents required
for Credit Investigation
Learned about the documents required for
Running Finance
Learned the Concepts of Demand and Cash
Finance
Studied Export Refinancing from Manual
Made voucher for partial Adjustment of CF (Cash
Finance)
Filled Credit Proposal cum Sanction Advice
MCB Instant Financing, BBFS (Borrower Basic Fact
Sheet) and Application for Finance for renewal of 3
cases of CF.
Studied Documentation/Collateral Guidelines
Made Disbursement Status-Leasing Statement
Made Voucher Sheet
Studied Sanction Advice & Approval for
Financing
Made Voucher and Voucher Sheet
Studied a Credit Report
Learned documentation requirement for each
type of financing
Learned about L/C documents
Learned basics of Foreign Exchange operations

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Learned about different L/C related terms and

definitions
Learned about Payment against Foreign
Currency Checks
Made vouchers for Foreign Currency Cash
withdrawal
Made vouchers for FITT(Foreign Inward
Telegraphic Transfer)
Learned diff. types of SWIFT messages
Studied few chapters of Foreign Exchange
Manual
Learned about diff. types of L/Cs
Learned about diff. parties involved in L/C
Learned about Payment modes for L/C
Worked as CSO(Customer Service Officer)
Made Vouchers
Sorted Foreign Currency Signature Verification
Cards
Opened new accounts
Issued check books
Received Check Book Issuance Requisition
Made CCs(Check Collection)
Made SUI GAS Bills Vouchers
Made Telephone Bills Vouchers
Made Electricity Bills Vouchers
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On October 30, 2011

Business volume: MCB bank limited is public limited company listed
on Karachi, Islamabad and Lahore stock exchange in Pakistan under
license number BCD(1)17_66 dated 8th December 1966 and its external
auditors M/s A.F. Ferguson & Company.(Chartered Accountants). Name
of Regulatory Body is State Bank of Pakistan (Central Bank).

Rupee in (000)
Profit before tax

26,253,075

Profit after taxation

16,873,175

Total assets

567,552,613

Total liabilities

488,348,404

Deposits

431,371,937

Investment

213,060,882

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On October 30, 2011

Ratio analysis:

(All values in 000)

Liquidity ratios:

Liquidity ratio measures firms ability to meets its current obligations.

(i)Current ratio=current assets /current liabilities
Year 2010

Year 2009

Year 2008

438,055,296/473,754,539=0.92
4

383,724,636/425,221,031=0.90
329,655,815/372,207,358=0.885
2

Working: Calculation of current assets: (rupee in thousand)

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Items

Year 2010

Year 2009

Year 2008

Cash and balances 45,407,183

with treasury banks

38,774,871

39,631,219

Balances with other 1,478,569

banks

6,009,993

4,106,526

Lending to financial 4,401,781

institutions

30,00,000

4,100,079

Investment

195,651,545

147,434,703

82,099,385

advances

177,109,599

176,203,572

186,534,891

Other assets

14,006,626

12,301,497

13,183,715

TOTAL

438,055,296

383,724,636

329,655,815

Calculations of current liabilities :( rupee in 000)

Items

Year 2010

Year 2009

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Year 2008
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Bill payable

10,265,537

8,201,090

10,551,468

Borrowings

24,601,822

43,612,813

21,613,465

Deposit and other

accounts

426,476,908

361,695,513

322,785,631

Other liabilities

12,410,272

11,711,615

17,257,794

Total

473,754,539

425,221,031

372,207,358

I calculated all these values from maturities table of assets and

liabilities and added those values that are current (fall in one year).

Bibliography
The major sources of information and help were:

Websites

http://www.mcb.com.pk

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