Deals Mergers

NayaPay (Pvt.) Limited (NayaPay) has joined 1LINK (Pvt.) Limited’s (1LINK) PayPak scheme as an Affiliate Member, with Meezan Bank Limited as the settlement bank. Mr. Danish Lakhani, CEO, NayaPay and Mr. Najeeb Agrawalla, CEO, 1LINK signed an agreement to this effect at 1LINK’s office in Karachi. An applicant for the recently introduced E-Money Institution (EMI) […]

Allied Bank Limited (ABL) and Avanza Premier Payment Services (APPS) have collaborated to revamp online transactions through Payfast; APPS’ payment gateway. Payfast will allow the customers of ABL to shop on APPS’ vast merchant network which ranges from schools, billers, mutual funds, marketplaces and other entities via their, bank accounts. Allied Bank is the 5th […]

LAHORE – The NIB Bank Ltd (NIB)’s merger with and into MCB Bank Ltd (MCB) has come into effect from close of business. This merger has taken place under a share swap arrangement in accordance with the Scheme of Amalgamation as approved by State Bank of Pakistan on June 13, 2017, without involving any foreign […]

KARACHI: A high-powered body of two apex financial and banking regulators the Securities and Exchange Commission of Pakistan and the State Bank ofPakistan-onWednesday decided to seek cooperation of law enforcement agencies in curbing unregulated lending operations, particularly at the country`s stock exchange where certain brokers are said to use investors` money in illegal badla financing. […]

KARACHI: Sindh Bank Limited and Summit Bank have begun talks for a potential merger, which, if materialises, will be the second such deal in 2017, industry officials said on Thursday, “Due diligence exercise has started,” said a senior banker, requesting anonymity. “The proposed merger, however, depends on the financial and legal due diligence as well […]

Pakistan’s premier banking institution Bank Alfalah has entered into partnership with – a prominent e-commerce website – for issuance of Pakistan’s first ever discount debit card ‘Go Lootlo Wallet’.

Pakistan’s premier banking institution, Bank Alfalah has struck a historic deal with the country’s first and the largest branchless banking service, Easypaisa to bring the unbanked population of the country within the fold of financial inclusion. The agreement also entails joint efforts from both the corporate giants to promote and strengthen digital payments in the […]

KARACHI: MCB Bank and NIB Bank announced Wednesday their merger to operate as a single entity, as the Singapore-based majority shareholders of NIB have agreed to acquire one share of MCB in exchange of every 140 shares held by them, according to bourse filings. The amalgamation deal is subject to a number of regulatory approvals. “As […]

ISLAMABAD: National Bank of Pakistan (NBP) would facilitate customers of JS Bank at designated NBP branches across Pakistan to further facilitate the customers, under a Cash Management Agreement with JS Bank Limited that was recently signed between the two banks. According to a press release issued here Friday, the NBP has over 1,400 branches nationwide […]

Summit Bank’s board of directors said that merger with Sindh Bank will be disclosed as per official rules and regulations. According to the stock filing, the board members have decided to evaluate the information released by Sindh Bank to the public related to its merger with Summit Bank. The news about the merger of two […]