NIB bank gets delisted from PSX


Karachi: NIB bank has been delisted from the Pakistan Stock Exchange (PSX) today, in a notification sent by the entity to the bourse.

Last month, the State Bank of Pakistan had given the approval for the merger of Muslim Commercial Bank (MCB) and NIB Bank Limited.

And earlier this month, NIB Bank Ltd (NIB)’s merger with and into MCB Bank Ltd (MCB) had come into effect from close of business on 7th July 2017.

All properties, assets, liabilities, rights, and obligations of NIB stood amalgamated and now vest permanently in MCB. It was announced for foreseeable future, no changes would be made to the banking services of former NIB customers who will be able to conduct their banking transactions as usual.

Once the full integration of both banks is complete, the merger will provide additional synergies, banking services and added convenience to customers of both Banks.

Former NIB customers will gain direct access to MCB’s extensive network of branches and ATMs alongside an enhanced portfolio of products and services.