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Business

Lootah expresses intention to acquire some 51pc shares in Summit Bank

The Biz Update5 years ago1 year ago07 mins

Islamabad, March 30, 2020: A Dubai based business tycoon, Nasser Abdulla Hussain Lootah, has expressed intention to acquire some 51 percent share of the Summit Bank Limited. The consummation of the transaction is subject to receipt of all regulatory and corporate approvals, including but not limited to approvals from the State Bank of Pakistan (SBP),…

Business

Sindh Bank & Summit Bank Under Attack

The Biz Update5 years ago04 mins

Karachi, July 17, 2019: Panic gripped among the customers and stakeholders of the two banks — Sindh Bank and Summit Bank — as the government ministers imposed allegation on the banks declaring them as Benami Banks developed purposefully for exercising money laundering. Customers of the two banks are getting worried from the serious level allegation…