MCB Bank Annual Report 2015
Total Page:16
File Type:pdf, Size:1020Kb
Vision & Mission 3 Investor Grievances 88 Strategic Objectives 5 MCB Calendar 89 Core Values 17 Issues Raised in Last AGM 90 Awards 19 Profile of Shari’ah Advisor Board 91 Products and Services 20 Directors’ Report to the Members 92 Corporate Information 27 Corporate Sustainability Report 110 Board of Directors 28 Social & Environmental Responsibility 113 Profile of the Board of Directors 30 Human Resource Management 114 Board Committees 39 Managing Conflicts of Interest 115 Organizational Structure 43 IT Governance 116 Management Committee 44 Whistle Blowing Policy 118 Other Senior Management 47 Record Management Policy 118 Corporate Profile of the Bank 49 Risk & Opportunity Report 119 Chairman’s Message 50 Stakeholder’s Engagement 121 President’s Review 51 Code of Conduct 122 Entity Credit Rating 54 Statement on Internal Controls 125 Statement of Compliance with the Code of Corporate Governance 126 Stakeholder’s Information Auditors’ Review Report to the Members on Code of Corporate Governance 128 Highlights 2015 55 Report of the Audit Committee 129 Financial Performance 2005-2015 56 Management Objectives and Critical Performance Indicators (CPI) 57 Unconsolidated Financial Statements Forward Looking Disclosure 58 Auditors’ Report to the Members 132 Commentary of Six Years’ Performance 60 Statement of Financial Position 133 Six Years’ Financial Summary 63 Profit and Loss Account 134 Six Years’ Non Financial Summary 65 Statement of Comprehensive Income 135 Six Years’ Summary of Concentration & Maturities 66 Cash Flow Statement 136 Concentration of Advances, Deposits, NPLs and Off Balance Sheet Items 67 Statement of Changes in Equity 137 Maturity Analysis of Assets and Liabilities 68 Notes to and forming part of the Unconsolidated Financial Statements 138 Key Interest Bearing Assets and Liabilities 68 Annexure 206 Graphical Presentation of Financial Statements 69 Statement of Value Added 70 Consolidated Financial Statements Summary of cash flows 71 Directors’ Report on Consolidated Financial Statements 234 Commentary on Six year cash flows 71 Auditors’ Report to the Members 235 Cash Flow Statement Direct Method 72 Consolidated Statement of Financial Position 236 Groupwise Deposits & Advances 73 Consolidated Profit and Loss Account 237 Non Performing Loans 74 Consolidated Statement of Comprehensive Income 238 Investments 75 Consolidated Cash Flow Statement 239 Markup & Non Markup Income 76 Consolidated Statement of Changes in Equity 240 Administrative Expenses 77 Notes to and forming part of the Consolidated Financial Statements 241 Vertical Analysis 78 Annexure 315 Horizontal Analysis 79 Commentary on Six year Horizontal & Vertical Analysis 80 Others Quarterly Performance 81 Branch Network 325 Quarterly Analysis - 2015 82 Pattern of Shareholding 327 Capital Structure 84 Categories of Shareholders 327 DuPont Analysis 85 Pattern of Shareholding under CCG 328 Segment Analysis 85 Notice of 68th Annual General Meeting 330 Statement of Charity and Donation 86 Glossary of Terms 336 Market Statistics of MCB’s Share 87 Investors’ Awareness 338 Share Price Sensitivity Analysis 88 Form of Proxy 339 Vision & Mission 3 Investor Grievances 88 Strategic Objectives 5 MCB Calendar 89 Core Values 17 Issues Raised in Last AGM 90 Awards 19 Profile of Shari’ah Advisor Board 91 Products and Services 20 Directors’ Report to the Members 92 Corporate Information 27 Corporate Sustainability Report 110 Board of Directors 28 Social & Environmental Responsibility 113 Profile of the Board of Directors 30 Human Resource Management 114 Board Committees 39 Managing Conflicts of Interest 115 Organizational Structure 43 IT Governance 116 Management Committee 44 Whistle Blowing Policy 118 Other Senior Management 47 Record Management Policy 118 Corporate Profile of the Bank 49 Risk & Opportunity Report 119 Chairman’s Message 50 Stakeholder’s Engagement 121 President’s Review 51 Code of Conduct 122 Entity Credit Rating 54 Statement on Internal Controls 125 Statement of Compliance with the Code of Corporate Governance 126 Stakeholder’s Information Auditors’ Review Report to the Members on Code of Corporate Governance 128 Highlights 2015 55 Report of the Audit Committee 129 Financial Performance 2005-2015 56 Management Objectives and Critical Performance Indicators (CPI) 57 Unconsolidated Financial Statements Forward Looking Disclosure 58 Auditors’ Report to the Members 132 Commentary of Six Years’ Performance 60 Statement of Financial Position 133 Six Years’ Financial Summary 63 Profit and Loss Account 134 Six Years’ Non Financial Summary 65 Statement of Comprehensive Income 135 Six Years’ Summary of Concentration & Maturities 66 Cash Flow Statement 136 Concentration of Advances, Deposits, NPLs and Off Balance Sheet Items 67 Statement of Changes in Equity 137 Maturity Analysis of Assets and Liabilities 68 Notes to and forming part of the Unconsolidated Financial Statements 138 Key Interest Bearing Assets and Liabilities 68 Annexure 206 Graphical Presentation of Financial Statements 69 Statement of Value Added 70 Consolidated Financial Statements Summary of cash flows 71 Directors’ Report on Consolidated Financial Statements 234 Commentary on Six year cash flows 71 Auditors’ Report to the Members 235 Cash Flow Statement Direct Method 72 Consolidated Statement of Financial Position 236 Groupwise Deposits & Advances 73 Consolidated Profit and Loss Account 237 Non Performing Loans 74 Consolidated Statement of Comprehensive Income 238 Investments 75 Consolidated Cash Flow Statement 239 Markup & Non Markup Income 76 Consolidated Statement of Changes in Equity 240 Administrative Expenses 77 Notes to and forming part of the Consolidated Financial Statements 241 Vertical Analysis 78 Annexure 315 Horizontal Analysis 79 Commentary on Six year Horizontal & Vertical Analysis 80 Others Quarterly Performance 81 Branch Network 325 Quarterly Analysis - 2015 82 Pattern of Shareholding 327 Capital Structure 84 Categories of Shareholders 327 DuPont Analysis 85 Pattern of Shareholding under CCG 328 Segment Analysis 85 Notice of 68th Annual General Meeting 330 Statement of Charity and Donation 86 Glossary of Terms 336 Market Statistics of MCB’s Share 87 Investors’ Awareness 338 Share Price Sensitivity Analysis 88 Form of Proxy 339 02 ANNUAL REPORT 2015 MCB | BANK FOR LIFE 03 VISION To be the leading financial services provider, partnering with our customers for a more prosperous and secure future. MISSION We are a team of committed professionals, providing innovative and efficient financial solutions to create and nurture long-term relationships with our customers. In doing so, we ensure that our shareholders can invest with confidence in us. 02 ANNUAL REPORT 2015 MCB | BANK FOR LIFE 03 VISION To be the leading financial services provider, partnering with our customers for a more prosperous and secure future. MISSION We are a team of committed professionals, providing innovative and efficient financial solutions to create and nurture long-term relationships with our customers. In doing so, we ensure that our shareholders can invest with confidence in us. 04 ANNUAL REPORT 2015 MCB | BANK FOR LIFE 05 STRATEGIC OBJECTIVES • Delivering remarkable returns to stakeholders, sustainable performance, exceeding market and shareholder expectations • Providing value added services through operational expansion, geography and upgraded system • Building a corporate culture of equality, trust and team spirit as we remain dedicated to being a socially responsible organization 04 ANNUAL REPORT 2015 MCB | BANK FOR LIFE 05 STRATEGIC OBJECTIVES • Delivering remarkable returns to stakeholders, sustainable performance, exceeding market and shareholder expectations • Providing value added services through operational expansion, geography and upgraded system • Building a corporate culture of equality, trust and team spirit as we remain dedicated to being a socially responsible organization Life symbolizes love, laughter, sorrows and its many highs and lows. It signifies a constant struggle to achieve certain goals in life. Sometimes along the journey there comes a time when one loses hope and faith; there seems to be no light at the end of the tunnel. MCB Bank is proud to provide hope which aspires one to bring dreams into reality with the promise to aim higher, filling up your life with positivity all along. It thus makes your life smooth and helps it stay beautiful. Life symbolizes love, laughter, sorrows and its many highs and lows. It signifies a constant struggle to achieve certain goals in life. Sometimes along the journey there comes a time when one loses hope and faith; there seems to be no light at the end of the tunnel. MCB Bank is proud to provide hope which aspires one to bring dreams into reality with the promise to aim higher, filling up your life with positivity all along. It thus makes your life smooth and helps it stay beautiful. 08 ANNUAL REPORT 2015 09 08 MCB | BANK FOR LIFE 09 MCB Bank provides you the buoyancy to navigate through the crests and troughs of life. Its practical banking solutions help you in rowing gently towards achieving your milestones. 10 ANNUAL REPORT 2015 11 10 MCB | BANK FOR LIFE 11 MCB Bank provides security to your savings and protects your investments, thereby giving you the freedom to live a better life. 12 ANNUAL REPORT 2015 MCB | BANK FOR LIFE 13 Stay secure on the go. MCB Bank is committed to help its customers manage their money. It works hard to secure your savings, protect your investments, thereby giving you the freedom to dream bigger and do better. 12 ANNUAL REPORT 2015 MCB |