Habib Metro Bank Starts Its Currency Exchange Operations

Habib Metropolitan Bank Limited (PSX: HMB) has started its currency exchange operations, the bank informed the Pakistan Stock Exchange on Tuesday.

“We are pleased to inform that M/s. HABIBMETRO Exchange Services Limited, wholly owned subsidiary of Habib Metropolitan Bank Limited, has formally commenced its operations,” the stock filing stated.

HMB first announced in October 2023 that it was going to set up its own Exchange Company with an authorized capital of Rs. 1 billion.

Besides HMB, other banks namely United Bank Limited (PSX: UBL), Meezab Bank Limited (PSX: MECL) and Bank Al Habib (PSX: BAHL) have commenced their currency exchange operations in the country. Other banks who have registered an entity for this purpose are expected to start their operations in the coming weeks.