Diamond Trust Bank wrote to the CBK on Tuesday asking to acquire Habib Bank. In a notice to Central Bank, DTB said the transaction will be completed in July. It was ranked 6th out of 41 banks with a market share of 6.1 per cent as at December 31, 2016. Habib Bank was established in 1941 in Mumbai, India and its head office moved to Karachi, Pakistan, in 1947. Read: Habib Bank may buy bigger stake in DTB

Source: The Star March 21, 2017 15:45 UTC