BoP to set up ‘Wholesale Banking Unit’ in Bahrain

KARACHI: The Board of Directors of the Bank of Punjab has approved the business plan to establish a Wholesale Banking Unit in the Kingdom of Bahrain and a representative office in the United Arab Emirates.

However, these plans are subject to approval from the State Bank of Pakistan (SBP) and other regulators, material information sent to Pakistan Stock Exchange on Thursday said.

Following approval from the SBP, the bank will approach other regulatory authorities to establish a Wholesale Banking Branch in Bahrain and representative office in UAE, it added.

Copyright Business Recorder, 2024