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Summit Bank nods merger with Mybank

KARACHI: The board of directors of Mybank Ltd has approved the draft scheme of amalgamation with Summit Bank Ltd (SBL), formerly Arif Habib Bank Ltd.
According to information despatched to Karachi Stock Exchange here Monday, the bank said that the board has also approved valuation and swap ratio for the issuance of 0.80 share of SBL for one share Mybank Ltd. It may be noted that SBL had already acquired Atlas Bank Ltd last week through merger, sanctioned by State Bank of Pakistan. -APP


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