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MCB Bank, Afghan firm shortlisted for New Kabul Bank acquisition


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MCB Bank, Afghan firm shortlisted for New Kabul Bank acquisition

Afghanistan's government named Pakistan's as one of the twopreferred bidders for local lender New Kabul Bank, Bloomberg News reportedApril 6.

The other bidder is an Afghan company, according to theFinance Ministry's treasury director, Mohammad Aqa Kohistani.

MCB Bank offered the minimum guarantee of US$20 million andhad shown that it has enough funds to make the purchase. On the other hand, itslocal competitor offered to invest US$1 billion in New Kabul Bank and pledged aUS$168 million guarantee.

Kohistani said New Kabul Bank will be and sold to one of thebidders in four months.

Industry observers, however, expect the Afghan bank to besold to a local company given the tension between the two neighboringcountries, Bloomberg reported.

Muhtashim Ashai, MCB Bank's head of corporate finance andinternational banking, declined to comment on the report.