by Wadsam | March 31, 2019 7:24 am
Pakistan’s largest bank by asset and the country’s biggest lender, the Habib Bank Limited (HBL) has announced its exit from Afghanistan by third quarter 2019.
“HBL’s exit from Afghanistan is expected to be completed latest by third quarter 2019 and will be done as per the regulatory requirements of Afghanistan and in consultation with the central bank of Afghanistan (Da Afghanistan Bank),” the bank’s spokesman said. “HBL’s international footprint is important for the bank to service its domestic and international clients even better and this role will only strengthen in 2019.”
According to a public notice, the bank stopped accepting deposits effective March 11, 2019. “All depositors are requested to withdraw/transfer their funds and close their accounts with Habib Bank Afghanistan on or before June 10, 2019,” the notice says.
HBL began its operations in Kabul, where the bank’s only branch exists, in April 2004.
The bank has branches in Bahrain, Bangladesh, Belgium, China, Lebanon, Maldives, Mauritius, Oman, Singapore, Sri Lanka, Turkey, UAE and USA. It’s operating with a representative office in Beijing. HBL has around 1,800 domestic and international branches.
Source URL: https://wadsam.com/afghan-business-news/pakistans-biggest-lender-habib-bank-to-end-operations-in-afghanistan-soon/
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