The MCB believes that business growth should go hand in hand with community development...
CORPORATE PHILOSOPHY
The MCB has had a tradition of being a leader adapting to changes and innovating to satisfy customer needs. Our Vision, Mission and Corporate values are aligned to maintain this stance. We fully understand that our future success will depend on our ability to deliver a comprehensive range of services quicker, cheaper and in a more efficient manner to our increasingly sophisticated and global customers. Towards that end, the Bank is investing heavily in human and technological resources.
Other axes of our competitive strategy are further product differentiation and regional diversification. Given the limited potential for growing market shares domestically, particularly in a context of subdued economic expansion , the Group, while consolidating its market presence in domestic banking services, has embarked on a two-pronged diversification programme. One arm of the diversification strategy involves furthering the extension of domestic activities into the provision of non-banking financial services from the existing base. Our goal is to serve as a single window offering a full-fledged package of financial services. We hope in the process to reinforce customer loyalty. The other arm of the diversification strategy involves strengthening and deepening our presence in foreign markets, which offer interesting investment opportunities as may be gauged from the growing success of our foreign subsidiaries thus far.
Basically, the gist of our competitive strategy is to substantially increase the contribution of subsidiaries and associated companies to the Group's profit.
Ultimately, we strongly believe that the successful entrenchment of our strategies will lead to the reinforcement of a virtuous circle within our Group thereby providing higher quality service to clients while fostering greater staff satisfaction and yielding additional shareholder value. The key, of course, lies in striking the proper balance and the MCB already has its 167-year track record as testimony thereof.