The news is rocketing high in skies! NIB Bank’s Board of Directors are all set to check MCB’s proposal of amalgamation in a vital meeting, to be done today in Karachi.
According to the market news, the Board of Directors of NIB Bank are probable to accept the proposal of merger from MCB Bank. The bank had previously sent notice to PSX – Pakistan Stock Exchange about its board of directors developing meetup on 7th December, 2016 in Karachi. The notice talked about matters concerning the amalgamation of NIB with MCB as per the Section 48 of Banking Campanies Ordinance, 1962.