MCB Bank gears up for the purchase of SME Bank Ltd

By MG News | February 10, 2020 at 04:04 PM GMT+05:00

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February 10, 2020 (MLN): MCB Bank limited has submitted a Statement of Qualification (SOQ) to the Privatization Commission today, for the purchase of 93.88% share capital of SME Bank Limited.

To recall, the Privatization Commission in December 2019 had advertised the privatization of SME Bank via sale of 93.88% shares therein to strategic buyer. Accordingly, MCB Limited had submitted an expression of interest to the Commission, with the latter retorting by requesting for SOQ in respect of the proposed transaction.

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