Practical Training As An Intern Mcb Bank Essay Example

as the first privatized bank. Customers can conveniently apply for our Online Services and access their accounts using our user-friendly platform.

The State Bank of Pakistan has imposed limitations on the number of branches foreign banks can open, which MCB takes advantage of due to its wide branch network. MCB, which is now in a consolidation phase after ten years of privatization, aims to secure the progress achieved in recent years and lay the foundation for future expansion. The bank has reorganized its asset portfolio and streamlined its cost structure to maintain its position as a cost-effective producer. MCB's primary focus is on three key areas: Corporate, Commercial, and Consumer Banking. Its corporate clients include public sector companies as well as large local and multinational businesses.

MCB is catering to the growing middle class by offering new asset and liability products. The Bank has the largest ATM network in Pakistan, with over 197 ATM locations in 30 cities, providing 24-hour banking convenience. The Bank's Rupee Travelers Cheques have been market leaders for the past six years, and they have recently introduced their Gift Cheques Scheme. MCB is optimistic about the future, aiming to fulfill its mission of becoming the preferred provider of quality financial services in the country while maintaining profitability and responsibility. They also strive to be the best place to work. The Chairman of MCB is Mian Mohammad Mansha.

M. Muneer, Vice Chairman, Tariq Rafi, Sheikh Mukhtar Ahmed, Mohammad Arshad Shahzad Saleem, Sarmad Amin, Mian Umer Mansha, and Aftab Ahmad Khan serve as members of the Board of Directors. Mohammad Aftab Manzoor holds the position of President & Chief Executive.

Significant Brands

• MCB Smart Card.

M CB Cash Plus.< / li >
<< l i >M CB Khushali Bachat Account.< / li >
<< l i >M CB Remit Express.< / li >

S WOT Analysis

S trengths

< < l i >L argest banking network in Pakistan.< / li >
<< l i >W ide A.T.M network.< / li >
<< l i >4 time winner of Euro Money Award.< / li >
<< l i >M CB is localized as well as globalized.
< / li >< < l i >< span style="font - weight: bold; ">One of the Oldest Banks of Pakistan.< /

span >< / li >< < l i >Leadership in Rupee Traveler Cheques.
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< h3>< p style="font - weight: bold; ">Weaknesses

< l i >N ot involved in personal financing.< / li >
<< l i >N o refresher courses held by MCB.< / li >
<< l i >N o application of computer system.< / li >
<< l i >N o application of Islamic Banking in its real sense.
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< h3>Opportunities

< l i >H igh market share and potential for increase.
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• We have invested 20% out of 100% in Pakistan.
• We require a high skilled force for the new age.
• We are hiring Citi Bank employees by offering special salaries.
• We are enhancing online banking services.

Threats

1. The state bank markup on every financing is high.
2. There is a high number of competitors in the market.

BCG Matrix

HighLow Explanation of BCG Matrix: As Health Recovery Loan, we place this brand in the Question Mark category because it has low market share and high market growth. As Bank brands: MCB Smart Card is a Cash Cow. MCB Apna Ghar is in the growth process. MCB Business Sarmaya is a new product with low market share. MCB Car Financing is a Cash Cow.

1. MCB Debit Card is a Cash Cow.
2. MCB Call Center is a Dog.
3. MCB Mobile Banking is a Dog.
4. MCB Cash Plus is a Cash Cow.

+ remaining list items +

5. Remit express is a dog in terms of its low market share and growth. However, its core distinctive competency lies in the low markup of 9%.

If any other bank were to introduce this brand, they would not be able to afford such a low mark-up.

Porter’s Five Forces

Explanation of Porter’s Five Factors for the Health Recovery Loan

1. The threat of new entrants is high because it is the first time any bank has introduced the Health Recovery Loan, opening up opportunities for other banks to enter this specific field.
2. The bargaining power of buyers is low due to the limited number of substitutes available.
3. There is low internal rivalry as there are no competitors in the market offering the Health Recovery Loan.
4. The bargaining power of suppliers is high as this bank is the only one providing this facility.

MCB's Perspective

1. The threat of new entrants is high as Pakistan's banking system is attractive and well-known in Asia.
2. There is high internal rivalry as there are already many competitors in the market.
3. The bargaining power of buyers is high due to the availability of numerous substitutes.
The bargaining power of suppliers is low as customers have the option to go to other competing banks.Current Marketing SituationThe current market situation for launching the Health Recovery Loan is favorable because no bank has yet launched a brand like this. The Health Recovery Loan holds significant value for individuals in lower and middle income groups who cannot afford it.There is a strong demand for the loan in today's marketing scenario.

Goals and Objectives “To provide the facility of Health Recovery Loan for profit to those people who can not meet their Medical expense.

Marketing Strategy


For the awareness of dowery to people we make advertisement and making the market segmentation, after segmentation target the market of emale and positioned the product in the mind of target market.

Action Programmes


1. Brand

Manager: First of all to launch a product, the responsibility will be given to the brand manager.

Budget

INTERNAL BUDGET: Rs TOTAL STAFF REQUIRED = 4 PERSONS / BRANCHSALARY = 6000 =120,000 PROMOTIONS BUDGET: ADVERTISMENT ON T.V =200,000 INTERNET=100,000. NEWSPAPERS=150,000. PRINTING=250,000 TOTAL=820,000 Control

Measures 1 - Integrating a Safety Program

A successful safety program is integrated at all stages of product development. It begins with involving product-safety personnel in engineering planning and feasibility meetings, ensuring that safety principles are considered.

Product-safety personnel should also be involved as the product development team goes through needs assessment, internal hazards analysis, and design reviews. This involvement helps to ensure that the product's progression from concept to alpha and beta releases prevents the costly wasting of resources at compliance time.

Measures 2 - Separate audit department

We hire a person for internal audit who checks all the records and procedures and detects errors and frauds. If any fraud in maintaining the records or any other fraudulent activity is detected, we take corrective and appropriate actions.

Projected Market Share:
Pakistan is an underdeveloped country, and most of the population belongs to the low and middle-income group. We estimate that the projected market share is high because people belonging to the low and middle-income group will highly appreciate this brand

and avail this facility from the bank.

Profit Margin:
Amount left for financing = (50,000,000 - 820,000) = 49,180,000
Total number of customers = (49,180,000 / 75000) = 655
Profit per customer = (75,000 * 9 %) = 6750
Profit from customers = (6750 * 655) = 4,421,250
Total profit = (4,421,250 + 4,,9180,,000) = 53,,601,,250
Net profit = 53,,601,,250 - 50,,000,,000=3,,601.,,,,250

Market Segmentation

Low and middle-income group; male,female..

Female individuals in the low and middle income groups have a strong desire for dowry and show favorable response to dowry financing.

Target Market

Our target market comprises of females belonging to the low and middle income groups. We promote the Health Recovery Loan extensively through advertising on multiple media platforms including TV, Internet, Signboards, etc.

In order to make sure that our target market fully comprehends the entire process (markup, installment, down payment and total package), we have integrated advertisement marketing into our promotion strategy. In terms of the marketing mix, we have set the price of the Health Recovery Loan between 50000 to 75000, which makes it affordable for individuals with low or middle incomes. Additionally, our product offering includes dowery as well in recognition of the challenges faced by low income individuals when trying to obtain dowery all at once. To tackle this issue, we have introduced a facility that allows customers to pay only the down payment and complete remaining payments through installments at a low interest rate. Moreover, currently our product is available in the main branches located in four provinces (Karachi, Lahore, Peshawar, Quetta and Islamabad). If we receive positive feedback on this offering, we plan to extend availability to all branches of our bank.

Promotion: Various advertising methods such as Television,

Internet, Signboard, etc. will be utilized to create awareness among people about the product and its processes.

Conclusion

We are introducing the Health Recovery Loan in MCB with the expectation that the brand will gain a significant market share and experience growth in the future. As there is no competition in the current market and the current market situation is favorable, an increase in market share will lead to higher profit margins.

References: Khawlah Gultasab, Brand Manager, M.

Zulifkar Ali Khan is the Brand Manager and Muhammad Omer Ata is the Country Collection Manager.