Standard Chartered dismisses rumors about winding up operations in Pakistan

MG News | July 09, 2019 at 10:40 AM GMT+05:00

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July 9, 2019 (MLN): Standard Chartered Bank has shut down all rumors regarding winding up its operations in Pakistan, via an announcement on its official social media handle.

Rumors about the bank’s decision to transfer its accounts to Habib Bank Limited (HBL) and closing down operations in Pakistan have been doing the rounds lately.

However, the banking authorities took to their social media handle to address the rumor with a clear denial. They further added that, “Standard Chartered has been operating in Pakistan for over 150 years and is absolutely committed to the country. We are very proud to serve our clients in this country.”

Standard Charted first established its operations in Pakistani back in 1863 and merged its subsidiary Standard Chartered Bank Pakistan with Union Bank in 2006, to create the country’s sixth largest bank.

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