UBL gets SBP’s approval to commence due diligence of Telenor Microfinance Bank

News Image

MG News | February 08, 2022 at 10:49 AM GMT+05:00

0:00

February 08, 2022 (MLN): The State Bank of Pakistan (SBP) has granted in-principle approval to United Bank Limited (UBL) to commence the due diligence of Telenor Microfinance Bank Limited (TMB) for the proposed acquisition of 55% sponsor shares in TMB, currently held by Telenor Pakistan BV (operating under the Easypaisa brand name), UBL informed through a notice to PSX today.

The above approval is subject to compliance with the applicable laws, rules, regulations.

To recall, the Board of Directors of the MCB Bank in its meeting held on October 27, 2021, had accorded its in-principle approval to conduct due diligence for a potential transaction for the purchase of 55% shares of Telenor Microfinance Bank Limited. However, this was subject to the permission granted by the SBP.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 154,439.68
241.10M
-1.09%
-1701.56
ALLSHR 94,668.16
984.91M
-0.80%
-765.63
KSE30 47,119.91
93.25M
-1.26%
-600.63
KMI30 226,125.72
147.15M
-1.17%
-2674.34
KMIALLSHR 63,569.05
456.03M
-0.92%
-592.28
BKTi 41,622.83
56.72M
-1.28%
-538.80
OGTi 31,488.79
10.15M
-1.08%
-344.95
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,850.00 117,320.00
114,850.00
1920.00
1.67%
BRENT CRUDE 66.88 68.17
65.71
0.51
0.77%
RICHARDS BAY COAL MONTHLY 84.00 84.00
84.00
-1.90
-2.21%
ROTTERDAM COAL MONTHLY 93.00 93.25
92.75
0.00
0.00%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 62.60 63.98
61.69
0.23
0.37%
SUGAR #11 WORLD 15.81 15.87
15.67
-0.01
-0.06%

Chart of the Day


Latest News
September 13, 2025 at 08:42 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


September 13, 2025 at 05:13 PM GMT+05:00

Wheat prices break past official ceilings


September 12, 2025 at 06:41 PM GMT+05:00

CCP approves AZT Foundation’s acquisition of Route2Health



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg