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Summit Bank board approves new swap ratio for Sindh Bank deal

Summit Bank Ltd.'s directors approved a new share swap ratio for Sindh Bank Ltd.'s acquisition of the bank.

The transaction will now take place through a swap of 1 ordinary share of Sindh Bank for every 4.17 ordinary shares of Summit Bank, from the previous ratio of 1 Sindh Bank share for 3.85 Summit Bank shares.

The revised swap ratio is subject to regulatory and shareholder approval.