Bidding for RBS likely this month

KARACHI: Bidding to buy stakes in the Royal Bank of Scotland (RBS) is likely to take place during the last week of this month, said banking industry sources.

“Bidding to buy strategic stakes in the Royal Bank of Scotland Pakistan is expected to take place between April 28 and April 30,” said the sources.

MCB-RBS deal cancelled as deadline passes

KARACHI: Muslim Commercial Bank (MCB) and Royal Bank of Scotland (RBS) acquisition deal has been cancelled as the deadline of December 31 set by the State Bank for MCB has passed, DawnNews reported.

MCB failed to meet the legal obligation set by the State Bank of Pakistan regarding the sponsor’s shares with the Central Bank.