MCB Bank to open new vistas via launch of online banking

MCB Bank Ltd. is set to launch vBanking (Virtual Banking), its internet banking product in Sri Lanka.  

vBanking provides a range of innovative services and features that have yet to be offered in the Sri Lankan market, which clearly differentiate it from any other internet banking product. The Bank promises that these innovative features will change how its customers bank, providing a level of convenience and flexibility, thus far not experienced.

MCB envisions vBanking, which offers comprehensive online banking solutions to both individuals and corporate’s, becoming the preferred internet banking solution in the country.

President of MCB Bank Ltd. Pakistan M.U.A. Usmani will be in Sri Lanka to officially launch the internet banking product on 22 November 2010.

Usmani has over 45 years of banking experience. He started his career with American Express Bank Ltd (Karachi), where he worked for nearly thirty years and headed the Country Treasury Department and was also Senior Director Financial Institutions, Middle East and Pakistan.

Ahead of the launch Usmani said: “With the present economic stability and growth opportunities in Sri Lanka, this is the most opportune time to launch internet banking. This launch will be the first of many other innovative products we hope to introduce and is part of our aggressive expansion plan.”

MCB Bank, one of the largest Banks in Pakistan, has been in operation in Sri Lanka since 1994. It currently has five branches located in Fort, Maradana, Pettah, Kandy and Wellewatte and offers both conventional and Islamic banking solutions.

vBanking, part of MCB’s  efforts to extend their services to the virtual level will  provide facilities such as account information, local and overseas fund transfer, schedule standing orders and payments, cheque control, set alerts, inbox and document upload facility, trade services, loan settlements, bulk transactions  and maker-checker facility.

Country General Manager MCB Bank Ltd. Sri Lanka Raheel Ijaz said: “Customer convenience is our priority and hence we are committed to giving customers the innovations necessary to face today’s fast paced world”.  vBanking is designed to put the customer’s bank account within reach at all times.

In Pakistan, MCB Bank is the largest Bank in terms of market capitalization. The Bank has a customer base of approximately 4 million and a nationwide distribution network of 1,081 branches, including 8 Islamic banking branches, and over 450 ATMs in a market with a population of over160 million.

It also has business establishments in Bahrain, a Rep office in Dubai, UAE and operates a fully owned subsidiary in Hong Kong, in partnership with Standard Chartered Bank, handling trade transactions in the Asia-Pacific.

During the last 15 years, the Bank has concentrated on growth through improving service quality, investment in technology and people, utilising its extensive branch network, developing a large and stable deposit base and managing its non-performing loans via improved risk management processes.  

MCB Bank Ltd. Sri Lanka is committed to expanding its operations around the Island and strives to offer the best possible service to its customers.