MCB Bank Limited and NIB Bank Limited enter preliminary discussions for merger

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MCB Bank Limited (“MCB”) announced today that MCB and Fullerton Financial Holdings Pte. Ltd (“FFH”), being the majority shareholder of NIB Bank Limited (“NIB”) through its wholly-owned subsidiary Bugis Investments (Mauritius) Pte. Ltd., are in preliminary non-binding discussions for a merger between MCB and NIB.

The terms of the transaction are in preliminary stages of discussion and are subject to, among other things, due diligence and all necessary regulatory and shareholder approvals.

There is no assurance that any discussions will result in any definitive agreement or transaction, or that any offer for NIB by MCB will be made or as to the terms on which any such offer might be made.

MCB Bank remains committed to providing top quality financial and wealth solutions to its customers. MCB and NIB will make an appropriate announcement in the event there are any material developments.

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The author and admin of this site is Umar Khitab Khan. Have 20 years experience in media industry, he wrote many scripts for TV, write ups and features for magazines and news papers. A book based on biographies of celebrities also on his credit. His magazine Monthly Metro Live very popular in intellectuals but also in masses, He is affiliated with many social and professional organizations like Arts Council of Pakistan and Karachi Union of Journalists. He is also a film critic and member of SBFC (Sindh Board of Film Censors).

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