KARACHI: The board of directors of Habib Metropolitan Bank Limited has approved the establishment of an Exchange Company with an authorized capital of Rs 1.0 billion, subject to the approval/clearance by State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP) and completion of other regulatory compliance requirements.

This Exchange Company will be a wholly-owned subsidiary of Habib Metropolitan Bank Limited, material information sent to Pakistan Stock Exchange on Tuesday said.

Copyright Business Recorder, 2023