Habib Bank Limited (HBL): Closure of New York branch in 1QCY20 – By Foundation Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Habib Bank Limited (HBL PA) has notified the voluntary closure of its New York branch before or by March 31, 2020 in coordination with New York State banking regulator.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">In the latest development related to New York (NY) branch, HBL has notified Pakistan stock exchange about the voluntary closure of its NY branch before or by March 31, 2020 in coordination with New York State banking regulator.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">This will reduce the risk of any additional penalty on NY branch as the bank was undergoing a lookback period.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:...