HSBC is set acquire Pakistani Prime Commercial Bank, a national retail bank, as part of its efforts to expand its operations in the region.
According to reports, the two banks have been discussing a complete HSBC takeover of the PCB’s operations, potentially offering institutions 62 more branches in Pakistan.
Though the deal has yet to be finalized, if it is approved HSBC says it would become the country’s second largest retail bank, managing PCB’s total assets of about $1.2 billion.