SBP issues no objection on the valuation of KASB Bank for merger

The State Bank of Pakistan on Thursday released a “no objection” statement on the valuation of the now defunct KASB Bank which is to merge with BankIslami.

On orders of the Sindh High Court, the State Bank of Pakistan has initiated a process of inviting applications from all stakeholders as to the valuations being used for the purposes of the merger.

After an evaluation of those objections, the State Bank of Pakistan finds no reason to initiate fresh evaluations.

“Based on the assessment of the objections the evaluation conducted by the independent evaluator of the bank was considered reasonable,” said the SBP.