Askari Bank Wants to Acquire Samba Bank

Askari Bank Limited has shown interest to acquire Samba Bank through the acquisition of a majority shareholding of 84.5 percent.

In this regard, the Askari Bank has received in-principle permission from the State Bank of Pakistan (SBP) to commence due diligence of the bank, according to a stock filing.

Askari Bank is the third party that had expressed its interest to acquire stakes in Samba Bank, which is being held by its parent company, Saudi National Bank.

Previously, United Bank Limited and a consortium led by Fatima Fertilizer had been given permission to undertake a regulatory requirement of due diligence of the Samba Bank by the central bank.

Askari Bank Limited is one the fastest-growing mid-tier banks in the country. Its President and CEO Atif Bokhari is one of the senior-most bankers in Pakistan. Atif was previously involved in the process of merger and amalgamation of NIB Bank into and with MCB Bank.



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