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Islamic Finance Briefing - Categorized | Banking, Investment, Market Moves more

MCB Bank buys RBS Pakistan operations At US$87 mln

Posted on 11 August 2009

From WSJ: MCB Bank Ltd. has agreed to buy Royal Bank of Scotland Group PLC’s (RBS) operations in Pakistan for PKR7.2 billion (US$87 million), people familiar with the situation said Monday, in the latest sale of Asian assets by the Scotland-based bank.
Earlier in the day, MCB Bank said in a statement to the Karachi Stock Exchange that its board had approved a proposal to acquire the assets, but didn’t give any details other than to say the deal is subject to the signing of a share-purchase agreement and approvals from the State Bank of Pakistan and other regulators………..Full Article: Source

 
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