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05-Mar-2010
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Due diligence of RBS:two banks allowed by SBP |
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The State Bank of Pakistan has given green signal to the two banks for commencing due diligence for the acquisition of Royal Bank of Scotland (RBS). The SBP has allowed Faysal Bank and Egypt EFG-Hermes to conduct due diligence on RBS Pakistan operations. The RBS has put on sale its business in 36 countries including Pakistan after world-wide losses of $38 billion in 2008 due to the global economic recession. |
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