MCB Bank is one of the oldest banks in Pakistan and was incorporated into the private sector in 1947. It was nationalized in 1974 and privatized in 1991. MCB Bank’s major shareholding is owned by the Nishat Group, a prominent business conglomerate, having diversified interests in Textiles, Cement, Banking, Insurance, Power Generation, Hotel Business, Real Estate, Agriculture, Dairy, Auto Manufacturing, and Paper Products.
To enter international capital markets, the Bank launched its Global Depositary Receipts (GDRs) in 2006. It was the first Pakistani Bank that had its GDRs listed on the London Stock Exchange. In 2008, the Bank entered into a strategic partnership with Maybank, Malaysia, which owns an 18.78% stake in MCB through Maybank International Trust (Labuan) Berhad.
In 2017, Fullerton Financial Holdings (International) of Singapore through Bugis Investments (Mauritius) Pte Ltd acquired a 5.49% stake in MCB under the merger scheme of NIB Bank with and into MCB Bank Limited.
MCB is the first Pakistani Bank that incorporated a wholly owned Islamic Banking subsidiary, MCB Islamic Bank Limited, to meet the requirements of a significant segment of society for financial solutions that conform to Shari’ah rulings and demonstrate our confidence in the potential of the Islamic Banking industry in the country.
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