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Goodbye: Pakistan’s biggest lender exits Afghanistan

Goodbye: Pakistan’s biggest lender exits Afghanistan

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Mar 29, 2019 - 09:55

PESHAWAR (Pajhwok): The Habib Bank Limited (HBL) is winding down its operations in Afghanistaninfo-icon in line with the regulatory requirements in the neighbouring country, an official said on Thursday.

The exit of Pakistaninfo-icon’s biggest lender from Afghanistan may be completed by the third quarter if he current year in consultation with the Da Afghanistan Bank.

A spokesman for the bank told The News: “HBL’s international footprint is important for the bank to service its domestic and international clients even better.”

With a solitary branch in Kabulinfo-icon, HBL was given a business licence by the Afghanistan Investment Support Agency in April 2004, which is valid till July 30, 2020.

HBL is closing operations in Afghanistan to focus on select markets, which meet client requirements. He bank will be rightsizing operations in some markets.

mud

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