State Bank of Pakistan has approved this merger and by July 13, 2017, NIB and its customers will become the part of the MCB Bank.
Corporate Ambassador/KARACHI: The State Bank of Pakistan has approved the merger of NIB Bank Limited with and into MCB Bank Limited. Within a period of one month from the date of approval of the merger, 13th June 2017, NIB will merge into MCB and consequently you will become the customer of MCB.
MCB is one of Pakistan’s leading banks and is renowned for its financial strength, quality banking services, an advanced technological infrastructure and highly professional team. In its operations spanning over 70 years, MCB has developed an asset base of over PKR 1.2 trillion, a network of more than 1,240 branches and over 1,200 ATMs across Pakistan along with global operations with a customer base of over 6 million.
The Pakistan Credit Rating Agency (PACRA) has assigned MCB a long-term and short-term entity credit rating of AAA, and A1+ respectively. As a result of the merger, the customers of NIB will become part of a larger banking platform. MCB has the scale, human capital, core competencies and infrastructure to take advantage of greater opportunities in the areas of banking and finance in Pakistan. The customers of NIB will also gain access to a diversified portfolio of banking products and services to meet their financial needs.
During the integration process, NIB will be working closely with the MCB team to ensure seamless transition for all our customers, said CEO/President of NIB Yameen Kerai in a message sent to the customers of the bank. For now, no changes will be made to your banking account and services. It will be our priority to contact you as and when any change occurs and we will keep you updated with further details as the merger progresses.