State Bank of Pakistan Approves Faysal Bank's Purchase of RBS' Local Unit

Pakistan’s central bank approved Faysal Bank Ltd.’s purchase of RBS Pakistan Ltd., Syed Wasimuddin, a spokesman for the State Bank of Pakistan, said by telephone from Karachi today.

Faysal bought a 99.4 percent stake in RBS Pakistan on June 16 for 41 million euros ($50.5 million).

To contact the reporter on this story: Farhan Sharif in Karachi at fsharif2@bloomberg.net

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