Atlas Bank Takes Back Merger Proposition with KASB Bank

Posted by 15 April, 2009 Comments Off on Atlas Bank Takes Back Merger Proposition with KASB Bank

Monday April 13, 2009: There had been news that KASB Bank Limited (KBL) has acquired ATLAS Bank Limited (ATBL) but according to a press release, Pakistan Credit Rating Agency (PACRA) has removed entity ratings of KASB Bank Limited (KBL) while ATBL ratings is still on rating watch. The removal of KBL from entity rating led to a withdrawal of merger proposition from ATBL. Boards of Saudi Pak Commercial Bank (SPCBL) and ATBL are in process of a potential merger between the banks.

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