State Bank of Pakistan has granted approval for extension of the services of Muhammad Usman Ali Usmani as the Chief Executive Officer and President of MCB Bank up till September 2012. M.U.A.Usmani served MCB Bank from1999 to 2006 as Group Head of Treasury & FX and rejoined the bank after retirement as Head – Treasury & FX in 2009 and was soon promoted to the post of CEO. The bank management has requested for the extension in his services as the bank has gained new heights under his leadership.
MCB won “The Best Large Bank of the Year” and “The Most Stable Bank of the Year” awards by the CFA Association of Pakistan at ‘8th CFA Pakistan’s Annual Excellence Awards 2010’ and The Euromoney award for “The Best Bank in Pakistan”. The details of the awards show that the bank outperformed its peers during this period. MCB Bank won the Best Bank award under the category of Large Banks (more than Rs. 400 billion assets) by gaining 1.15 for profitability, 0.94 for efficiency, 0.93 for growth and 1.74 points for solvency with weighted average score of 4.77 while the runner up had 3.97 points.
The bank also won the Most Stable Bank of the year award by scoring 5.11 points with the runner up scoring 4.26 points. The Bank won another prestigious award, ‘The Euromoney Award’ for the “Best Bank in Pakistan” under his command recently which is a testament to its commitment to perform better and better by each passing day and achieve the height of success.
