HBL to purchase 9.5% shares of Habib Allied Holding from Allied Bank

March 30, 2022 (MLN): The shareholders of Habib Bank Limited (HBL), have approved the purchase of the entire shareholding (9.5%) of Allied Bank Limited (ABL) in Habib Allied Holding Limited, UK (HAHL), subject to the approval of the State Bank of Pakistan, company’s filing on bourse showed today.

For the purpose of giving effect to the above resolution, shareholders authorized the Board of Directors of the Bank to do all such acts, deeds and things and to execute and deliver for and on behalf and in the name of the Bank all such deeds, agreements, declarations and undertakings as may be necessary or required or as they or any of them may think fit for or in connection with the aforesaid investment, including without limiting the generality of the foregoing, any approval, sanction or permission required thereof or in connection therewith, the notice said.

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