Updated at: 1508 PST, Wednesday, October 22, 2008
KARACHI: The paid up capital of KASB and Atlas banks is expected to cross Rs12.5 billion after their merger.This was stated by President KASB Muneer Kamal in Geo News programme Tezi Mandi.
Kamal said that before the merger, KASB’s paid up capital stood at Rs8.5 billion and after the merger of the two banks, their equity would spur, leading to restoration of confidence in account holders.
The paid up capital of the banks has been on the rise since the tenure of former Governor State Bank of Pakistan (SBP) Dr Ishrat Hussain, Kamal observed
He said the banks may be merged if their paid up capital fails to meet the target set by the SBP.
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