State Bank of Pakistan approved the merges between NIB Bank and MCB Bank.
Finally State Bank of Pakistan approved their amalgamation between NIB bank and MCB bank.
In December 2016, MCB bank and NIB bank decided and announced their merger, both banks operate as single entity. NIB bank is Singapore-based bank agree with the MCB bank. According to the Bourse Filings, the bank agreed with every 140 shares by them.
So the both banks decided to merge their banks, the agreement held between the owners and shareholders of the two banks. MCB bank is Pakistan-based bank, MCB is one of the oldest Pakistan leading bank. Bank operating from the more than half century of Pakistan.
MCB Bank perform the pivotal role in the country, the bank also carries AAA (long term) and A1+ (short term), these rating is one of the highest category rating by Pakistan Credit Rating Agency (PACRA).
Now the State bank of Pakistan announced on 13, June 2017. They approved the merge between MCB Bank and NIB Bank.