Central Bank OKs 2 Banks To Start Due Diligence On RBS Pakistan
22 April 2009 - 2:56PM
Dow Jones News
Royal Bank of Scotland Group PLC (RBS.LN) Wednesday said
Pakistan's central bank has allowed MCB Bank (MCB.KA) and Habib
Bank (HBL.KA) to begin due diligence on its operations in the
country.
Last week, Habib Bank Ltd. and MCB Bank separately said they are
interested in buying Royal Bank of Scotland's business in Pakistan,
called Royal Bank of Scotland Ltd. (RBS.KA).
Royal Bank of Scotland had in February announced a three- to
five-year plan to dispose of non-core assets. It had identified its
Asia assets as well as a number of businesses related to the
unprofitable global banking and markets unit for sale.
-By Haris Zamir, contributing to Dow Jones Newswires;
91-11-4356-3311; neelabh.chaturvedi@dowjones.com