HBL acquires Barclays Pakistan

Karachi: The State Bank of Pakistan approved the Habib Bank Limited (HBL) acquisition of Barclays Bank PLC, a statement said on Monday.
As per the statement, the SBP approved the acquisition of Barclays banking business in Pakistan, beginning June 15, 2015.
Earlier, HBL, Pakistan’s largest bank, had announced it entered into an agreement with Barclays Bank PLC.
On this milestone, Nauman Dar, President and CEO of HBL said, “HBL takes pride in this acquisition and we thank the State Bank of Pakistan, the Barclays Staff and the Customers for their cooperation.” The HBL CEO and president welcomed the customers and staff of Barclays to the HBL family.