The board of directors of MCB Bank on Monday approved the proposed acquisition of the Royal Bank of Scotland Limited, giving an indication that the bank was close to sign a deal.
The RBS sale in Pakistan attracted large banks, like Habib Bank and MCB Bank, while a relatively small Bank JSCL was in the race to win the RBS. The HBL later withdrew itself.
The RBS has 79 outlet networks in the country.
Analysts said the RBS has a sound customer base of 226,000 (by Dec 2007) with quality infrastructure. This could earn much higher price than the deals signed before for the sale of different banks.
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