MCB Bank Limited was incorporated

Incorporation (business)

Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...

 by the Adamjee Group

Adamjee Group

Adamjee Group is a conglomerate based primarily in Pakistan.The group was founded by Sir Adamjee Haji Dawood who also played a vital role in the birth of the state of Pakistan by acting as a financial advisor and supporter to Quaid-e-Azam Mohomed Ali Jinnah- the founding father of Pakistan...

 on July 9, 1947, under the Indian Companies Act, VII of 1913 as a limited company. The bank was established with a view to provide banking facilities to the business community of the South Asia. The bank was nationalized in 1974 during the government of Zulfikar Ali Bhutto

Zulfikar Ali Bhutto

Zulfikar Ali Bhutto was 9th Prime Minister of Pakistan from 1973 to 1977, and prior to that, 4th President of Pakistan from 1971 to 1973. Bhutto was the founder of the Pakistan Peoples Party — the largest and most influential political party in Pakistan— and served as its chairman until his...

. This was the first bank to be privatized in 1991 and the bank was purchased by a consortium of Pakistani corporate groups led by Nishat Group.