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Best bank: Muslim Commercial Bank Best investment bank: KASB Securities/Merrill Lynch |
Muslim Commercial Bank is again nominated best bank in Pakistan. Moreover, MCB has proven itself to be one of the best-performing banks in Asia, and garners our award this year for best overall regional bank in Asia. The award is well deserved. MCB posted a 26% rise in full-year 2007 profits, to PRs15.3 billion ($242 million). Analysts attribute the strong performance to an aggressive foray into consumer finance and low administrative charges. MCB is well placed geographically and financially. Its return on assets at March 31 2008 stood at 5.69% – one of the highest rates in the world – and its solid financial performance continued this year, with profit after tax rising to PRs4.1 billion in the first quarter of 2008, up more than 10%.