Bank of Punjab expands international footprint with Bahrain unit

The Bank of Punjab has received in-principle approval from the State Bank of Pakistan (SBP) to establish an Overseas Wholesale Banking Unit in Bahrain, marking a key step in the lender’s plans to expand its international footprint.

The listed bank disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday.

“We wish to inform you that the (SBP), vide its letter dated 05 August 2026, has granted in-principle approval to the bank for the establishment of an Overseas Wholesale Banking Unit in the Kingdom of Bahrain, subject to obtaining all requisite approvals from the relevant regulatory authorities in Pakistan and the Kingdom of Bahrain, and compliance with the applicable laws, rules, regulations, and conditions stipulated by the SBP,” read the notice.

Back in 2024, BoP received approval from its Board of Directors to establish a Wholesale Banking Unit in the Kingdom of Bahrain and a representative office in the United Arab Emirates (UAE).

In its notice on Thursday, BoP said that the proposed Overseas Wholesale Banking Unit in Bahrain shall commence operations only after obtaining all requisite regulatory approvals, including the necessary No Objection Certificate (NOC) from the Central Bank of Bahrain and the issuance of the requisite banking license by the SBP.

Wholesale banking involves providing financial services to large clients, including other banks, financial institutions, government agencies, large corporations, and real estate developers.

The Bank of Punjab (BOP), established in 1989, is a prominent public sector commercial bank in Pakistan. It has grown significantly, becoming the second-largest public-sector commercial bank in the country.