Summit Bank 'scheme of Amalgamation' approved by shareholders

Shareholders of the Summit Bank Limited have approved the ‘Scheme of Amalgamation’ for the merger of the Summit Bank with and into Sindh Bank Limited, in accordance with the provisions of the section 48 of the Banking Companies Ordinance, 1962.

The approval was granted at the Extraordinary General Meeting of the Shareholders of the company held on August 31, 2018.

The completion and implementation of the aforementioned amalgamation is subject to obtaining of all necessary regulatory approvals and compliance, including without limitation, with any direction of the State Bank of Pakistan and the permission of the Honorable Supreme Court of Pakistan.