Earlier- the SBP had accorded approval to Jahangir Siddiqui Company to
conduct due diligence of RBS, formerly ABN AMRO Bank Pakistan Ltd.
According to a communiqué sent to the KSE here on Friday, the JS Bank said that
the board of directors of the bank, in an emergent meeting, has authorised the
bank’s management to submit a binding bid to the Royal Bank of Scotland Group
plc. The board was of the opinion that this opportunity presents an excellent
strategy fit with long-term growth objective of the JS Bank Ltd.
The board also reviewed the proposed funding plan which may require to raise
additional equity and or debt financing. |
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