National Bank

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GENERAL BANKING

It is backbone of banking It is one of the major department of MCB. It consist of following departments:

  • Accounts Department
  • Current Department
  • Remittance Department
  • Clearing Department
  • Cash Department

ACCOUNTS DEPARTMENT

Every transaction which takes place recorded in the computer so all transactions in different departments are forwarded to account department. Since all vouchers from different departments are forwarded to current department so this department tallies all such transactions with current department after maintaining the ledger of each department.  Following are different functions performed by this department:

  • Preparation of Financial Statements for different time span
  • Maintain all accounts of different departments
  • Calculation of profit on different schemes
  • Calculation of markup on  different advances
  • Preparation Different types of reports for State Bank
  • Daily position of cash & every accounts
  • Matching daily summaries of all departments with ledger

CURRENT  DEPARTMENT

This department maintains all formalities of the accounts and account holders like it account name, account holder’s name, code number and full address. Different cheques debit and credit voucher come form different departments like Token, Clearing, Remittances, Cash, Foreign Exchange, Advances and posted against different accounts.

A working Journal called Manual is prepared daily which shown the balance accounts of all parties. Mark-up and profit are calculated daily. That would be debited at credited from or to account holder’s account after specific period of time.

Markup is debit from the account after every three month profit is credited to accounts after every six month. New accounts are also opened in this department. The fund deposited in the MCB bank can be classified under the main heads:

  • CURRENT ACCOUNT
  • SAVING ACCOUNT
  • TERM /CALL DEPOSITS

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