Karachi: JS Bank has bought the operations of one of the world’s leading bank ‘SHS Bank’ in Pakistan, local newspaper reported. The report referred the Banking circular released on Monday which told that the bank as 10 branches here in Pakistan.
According to the sources, the worth for which the operations of bank has been sold out was still not confirm but it was expected that the bank has been bought for about 50 to 60 million dollars. The headquarter of SHS bank is in London and its assets are amount to be about 635 million dollars.
JS Bank Limited (Jahangir Siddiqui Bank) is a subsidiary of JS Group and is considered as progressive financial service groups in Pakistan.
[junkie-alert style=”white”]In October 2014 Meezan Bank acquired HSBC Pakistan Operations [/junkie-alert]