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KUALA LUMPUR, Aug 8: Malaysia’s Maybank has bought another 5 per cent of MCB Bank for about 703 million ringgit ($213 million), raising its stake in Pakistan’s biggest lender to 20 per cent, it said on Friday.
Malayan Banking Bhd, or Maybank, which is Malaysia’s top lender, had bought a 15 per cent stake in MCB Bank for $680 million in May.
That deal included a clause whereby Maybank was obliged to buy up to another 5 per cent of MCB Bank shares within one year of the first transaction.
—Reuters
