Material Information of Standard Chartered Bank Pakistan Limited (Updated on 08-06-2020).

Karachi: Standard Chartered Bank Pakistan Limited informed Pakistan Stock Exchange that the Board of Director of the Bank has appointed as Mr. Rehan Shaikh as the new CEO/Director of the Bank in place of Mr. Shahzad Dada, subject to necessary regulatory approval.

Standard Chartered Bank Pakistan Limited was incorporated in Pakistan on July 19, 2006. It was granted approval for commencement of banking business by State Bank of Pakistan, with effect from December 30, 2006. The ultimate holding company of the Bank is Standard Chartered PLC which is incorporated in England. The Bank commenced formal operations on December 30, 2006 through amalgamation of entire undertaking of Union Bank Limited and the business carried on by the branches in Pakistan of Standard Chartered Bank, a bank incorporated by Royal Charter and existing under the laws of England. The scheme of amalgamation was sanctioned by State Bank of Pakistan vide its order dated December 4, 2006. The registered office of the bank is located in Karachi.

The bank serves retail, corporate and institutional banking customers. Retail banking provides credit cards, personal loans, mortgages, deposit taking...