SBP allows MCB to conduct due diligence for acquiring 55% shares of Telenor Microfinance Bank

MG News | February 21, 2022 at 12:09 PM GMT+05:00

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February 21, 2022 (MLN): The State Bank of Pakistan (SBP) has granted in-principal conditional approval to MCB to conduct due diligence for a potential transaction for the purchase of 55% shares of Telenor Microfinance Bank Limited held by Telenor Pakistan BV, the bank’s filing on PSX showed on Monday.

To note, Telenor Pakistan BV is operating under the brand name Easypaisa.

The Board of Directors of MCB had already, in its meeting held on October 27, 2021, accorded its in-principle approval to conduct due diligence for the potential transaction.

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