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29-Jul-2010
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RBS acquisition:SBP grants NOC to Faysal Bank |
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The State Bank of Pakistan (SBP) on Wednesday granted No Objection Certificate (NOC) to Faysal Bank Limited for the purchase of Royal Bank of Scotland Pakistan operation. Faysal Bank Limited (FABL) has already entered into an agreement to acquire 99.37 percent interest in the Pakistan franchise of Royal Bank of Scotland (RBS Pakistan) for a cash consideration of EUR 41 million (equivalent to Rs 4.298 billion @ Rs 2.52 per share). |
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