Internship Report on Muslim Commercial Bank 2016
MCB Coffer Limited (Formerly Muslim Commercial Coffer Limited) has a solid foundation of over 50 years in Pakistan, with a arrangement of over 900 branches, over 750 of which are Automated Branches, over 222 MCB ATMs in 41 cities civic and a arrangement of over 12 banks on the MNET ATM Switch.
MCB's operations connected to be automated with focus on cause of expenses, re-alignment of back-end processing to access productivity, accessory of chump account standards, action ability and controls. The Coffer has taken the advance in introducing the savant-grade abstraction of centralizing Barter Casework in the country by accoutrement centralized adopted barter casework to branches with a appearance to advance efficiency, ability and abate commitment cost.
During my internship in MCB I formed in Remittances, Advances, Adopted Exchange and Chump Account Office administration and I auspiciously completed all the task/duties that were assigned to me.
During the advance of internship I abstruse about altered functions performed by Remittances, Advances, Adopted Exchange and Chump Account Office administration and coffer as a whole. I additionally abstruse bank’s accord with their barter and aural branches. I abstruse about affidavit requirements and almanac befitting for altered activities and processes, abnormally the affidavit claim for altered kinds of costs facilities.
Details
|
2013
|
2014
|
2015
|
Total Assets
|
443,615,904
|
509,223,727
|
567,552,613
|
Deposits
|
330,181,624
|
367,604,711
|
431,371,937
|
Advances-net
|
262,135,470
|
253,249,407
|
254,551,589
|
Investments-net
|
96,631,874
|
167,134,465
|
213,060,882
|
Shareholder’s Equity
|
52,244,865
|
61,075,932
|
488,348,404
|
Profit before Taxation
|
21,867,566
|
23,154,945
|
26,253,075
|
Profit after Taxation
|
15,374,600
|
15,495,297
|
16,873,175
|
Earning per Share (Rs.)
|
22.25
|
20.38
|
22.20
|
Product Line
MCB bank of Pakistan deals in all the schemes and the services of a bank in a current scenario there are many sets of financial infrastructure with which the MCB bank is leading in providing the services to its customers.
Consumer banking
The consumer portfolio, comprising the debit card, credit cards, auto loans, personal loans and mortgages will be established phase by phase. However, we are confident that our strengths, together with our largest network of online branches, a superior technology platform, a big customer base and the Consumer Personal Banking Group (CPBG), will take the Bank’s profitability to new heights.
Commercial banking
The MCB is also doing the commercial banking and it’s leading in this department
MCB offers retail product to its consumers. The MCB main focus to introduce the various financing and investing products to its valuable clients, and contributes the steady growth to the financial industry. The commercial and the retail banking offers the verity of asset and liability –based..
Deposit Product
Saving 365 gold
The higher you save, the higher you
go. MCB Savings 365 offers you a wide range of attractive profit rates
Saving extra
Grow with MCB Savings Xtra by
saving more and earning greater profit. MCB Savings Xtra offers you a wide
range of attractive profit rates.
Smart dollar
account
Discover a suitable solution that
helps make more of your dollar savings. MCB Smart Dollar Account is a sensible
way to maintain or grow your US Dollar deposit across USD Current, Savings, or
Term Deposits.
Saving account
If you’re living large and don’t
wish to lock your funds for lengthy periods, yet still want to reap the profits
from your success, your can have the best of both world’s with an MCB Privilege
Savings Account
Current account
- Low minimum
balance requirements.
- Unlimited
cash deposit and withdrawal facility at hundreds of branches nationwide.
- Lockers
and other affordable transactional facilities.
- Network
of over a thousand branches, and hundreds of online branches, at convenient
locations.
Current life
account
- Free
comprehensive life insurance coverage.
- No joining
fees on Debit/ATM Card.
- 50% discount
of Debit Card Annual Fee at the time of renewal.
- Low
monthly average balance requirement.
- On
maintaining your Privilege relationship, all demand drafts, pay orders,
cheque books, and ATM card are entirely free of cost.
Foreign currency
account
- Available
in US Dollar, UK Pound Sterling, or Euro.
- Unlimited
transactions at your branch.
- Free
foreign currency cash deposit and withdrawal facility.
- Profit
paid into your account every six months.
- Foreign Remittances facility available.
Loans
Auto loan
Life in the fast lane can be really
slow without a car. MCB makes it a breeze to finance/lease your new/used car.
Features and benefits
- Option
for financing or leasing
- Financing
tenures from
- Option
for new as well as used cars
- Option
for local as well as imported cars
- Financing
up to Rs.20 lacs
- Option
for early payment
- Option
for replacement loan
- Minimum
documents required (2 photographs and CNIC copy)
- Up to
15% down payment only
- Priority delivery on different vehicles
Credit Cards
Accepted at over
24 million establishments worldwide in 210 countries including 10,000 in Pakistan
displaying the Credit Cards logo, you can rest assured of real value-added
benefits at home and abroad.
Visa Debit card
e. Dispatch
department
Dispatch department is the very important
sector in the bank because all inward and outward mails in which ordinary and
sensitive as well, routed or transfer to this department as the mail in the
branches consists of documents covering title to goods, cheese, inter branch
Dr. Cr. Advices, letter of credit in international banking apart from other
routine letters. So it is important to handle dispatch carefully and make sure
there is not wrong devilry
f. Clearing department
There are two type of clearing in
the bank and during my internship me doing both type of the clearing.
- Inward
clearing
- Outward clearing
g. Account department
This is
important department in which the account are maintained and also the voucher
and the books and the all the expenses or expenditure of the bank are
maintained so it is the most important department of the bank maintain all the
account of the bank is the duty of this department and this department is
working well.
h. Finance department
Financing
department is the important department because bank finance in various ways
like advancing the loan and make the profit as a excess amount in the way of interest
the MCB finance in such a way giving the loan to the customer and also buy the
share of the private organization also finance in the agriculture sector and
the private sector as well.
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