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SBP Allows HBL to Establish an Agri Subsidiary

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The State Bank of Pakistan (SBP) has approved the establishment of ‘HBL Zarai Services Limited’ by Habib Bank Limited (PSX: HBL), the bank told the Pakistan Stock Exchange on Friday.

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According to the filing, HBL Zarai Services Limited will be a wholly-owned subsidiary of the Bank, subject to conformity with all applicable laws and regulations. Notably, HBL intends to form the firm to enhance Pakistan’s agriculture sector.

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