The State Bank of Pakistan (SBP) has granted the Bank of Punjab (BOP) in-principle approval to establish an overseas wholesale banking unit in the Kingdom of Bahrain, marking a key step in the bank’s international expansion plans.
The approval follows the bank’s earlier disclosure made in July 2024 regarding its plans to establish a presence in Bahrain.
According to the disclosure filed with the Pakistan Stock Exchange, the approval remains subject to obtaining all required regulatory clearances in both Pakistan and Bahrain, as well as compliance with applicable laws, regulations, and conditions set by the SBP.
The proposed wholesale banking unit will begin operations only after receiving a No Objection Certificate from the Central Bank of Bahrain and the necessary banking license from the State Bank of Pakistan.
The Bank of Punjab said it will continue to keep the Pakistan Stock Exchange informed of any further material developments in accordance with regulatory requirements.
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