VOL. XLV
No 26
1-July-2002
UAE
Emirates BankInternational Withdraws From Pakistan
Emirates Bank International (EBI) is to close its operationsin Pakistan this year following the signing of a memorandum of understandingwith Pakistans Union Bank Ltd, which will buy EBIs10 branches in the country in a deal worth $18mn. According to banking sources,the move is part of EBIs strategy to concentrate onthe Gulf market and reflects the banks success in reaching an agreement withthe Saudi Arabian Monetary...
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