Imran Maqbool Appointed as CEO and President of MCB Bank for the 3rd Time

Imran Maqbool has been appointed the President and CEO MCB Bank for the third time. 

Imran Maqbool assumed the charge in 2013 and drew an annual salary of Rs. 54.303 million including bonus, managerial fee, house rent and maintenance, retirement and settlement benefits.

His salary witnessed a tremendous growth to stand at Rs. 95.44 million over the course of 5 years. The number might cross the mark of Rs. 100 million in 2018 and that will be confirmed after the release of numbers for the latest financial year.

Not to mention there are other privileges such as company maintained cars, household equipment and etc.

Imran Maqbool, the IBA alumnus, is not only the CEO of MCB Bank but also serves as the Director for a few companies including Adamjee Insurance Company Limited, MNET Services (Pvt.) Limited, MCB Financial Services Limited, MCB Employees Foundation, and Pakistan Tobacco Company Limited. 

Maqbool was appointed as the top banker of MCB Bank in 2012 and assumed the charge in 2013 replacing M U A Usmani. He completed his first tenure of three years in 2016 and was then reappointed for the second term.

He will remain President and CEO MCB Bank for the next three years from 2019 onwards.

Imran Maqbool’s Achievements

During the period of his service, Maqbool has expanded the bank’s business with the network, customers’ base, and profits.

According to financial reports, the net profit increased to Rs. 22.4 billion from Rs. 21.5 billion during 2013 to 2017. The growth in profit was a challenge due to lower interest rate regime and the expansion of the operations and business through long-term roadmaps. Earning per share also improved slightly to Rs. 19.56 from Rs. 19.31.

The assets of the bank grew from Rs. 59.9 billion to Rs. 1.33 trillion.  Bank branches grew from 1217 to 1456 from 2013 to 2017.

Imran Maqbool along with other directors and team management achieved two major successes in this period which no bank of this level could match in recent years: the merger of NIB Bank with MCB Bank in 2017 and the establishment of the separate subsidiary of MCB Islamic Bank in 2015.