KARACHI, Oct 6: The top management of Pakistan Industrial Credit & Investment Corporation (PICIC) held a detailed meeting here on Monday with Executive Director of ICICI Bank, India, to share their experience of mergers and establishment of a corporate trust.

The aim was to discuss proposed merger of PICIC and PICIC Commercial Bank Ltd with reference to merger of Industrial Credit & Investment Corporation of India (ICICI) with ICICI Bank and preparation of scheme of amalgamation particularly PICIC’s shareholding and transferring it to a trust.

The Executive Director of ICICI Bank, Ms Kalpana Morparia held day-long meeting with the Managing Director of PICIC, Mohammed Ali Khoja and top executives of the Corporation at its head office here.

Ms. Morparia also visited State Bank of Pakistan (SBP) head office and called on Governor Dr. Ishrat Husain and the Deputy Governor SBP, Towfiq Hussain.

The managing director of PICIC was also present in the meeting.—APP