Barclays Bank commences operation in Pakistan: Daily Times

By Arshad Hussain

KARACHI: Barclays Bank Plc., a prominent bank of the United Kingdom, has become a scheduled bank in Pakistan from July 23 by opening its four branches, said Shazi Ashraf, head of corporate affairs of the Bank.

"The Bank has commenced its two-branches in Karachi, one in Lahore and one in Islamabad from Wednesday (July 23) and the people are joining bank by opening their accounts," she said. "These branches are absolutely new and we have hired staff in every section of the bank," she said. Ms Shazi said, "the bank is neither interested to acquire any Pakistani bank till now nor it is negotiating for any merger."

Barclays Bank Plc entered into Pakistan with an initial investment of $100 million aiming to open ten branches throughout the country. It has commenced four branches in Pakistan while other six branches would be started by the end of this year.

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