MCB Bank to conduct Silkbank’s due diligence

KARACHI: The Board of Directors of MCB Bank has accorded its in-principle approval to the management of the bank to conduct a detailed due diligence of Silkbank Limited, a commercial bank listed on the Pakistan Stock Exchange, subject to the approval of State Bank of Pakistan.

However, the potential transaction will be pursued subject to favourable outcome of due diligence, internal and regulatory approvals and definitive documents, material information sent to PSX on Monday said.

Copyright Business Recorder, 2023