By GEOFFREY IRUNGUMore by this AuthorA Sh650 billion-asset Pakistani bank has opened a representative office in Nairobi to tap into the multibillion international transaction business in its first investment in Africa. Central Bank of Kenya (CBK) said yesterday Bank Al-Habib Ltd of Pakistan (BAHLP) is opening the office in Kenya by the name BAHL-Representative Office. The banks referred to are Habib AG Zurich and Habib Bank, which DTB acquired last year. The representative office will also seek to promote growth in trade between Kenya and Pakistan,” said the CBK. According to the bank’s website, the institution has assets amounting to $6.5 billion (750 billion Pakistan rand), which makes it just about the same size as KCB Group.

Source: Daily Nation April 19, 2018 07:18 UTC