Faysal Bank Purchases RBS Pakistan

Faysal Bank Pakistan (FBP) has purchased Royal Bank of Scotland (RBS) Pakistan Operations. According to notice issued by Karachi Stock Exchange (KSE), FBP bought 99.37 per cent shares of RBS for Rs 4.29 billion with Rs 2.50 per share.

Earlier the similar deal was signed between RBS and MCB Bank but later Pakistan's Central Bank didn't approved the deal and the deal got cancelled.