August 28, 2017 / 5:27 PM / a year ago

New York bank regulator says Habib Bank to shutter New York branch

WASHINGTON (Reuters) - Habib Bank Ltd (HBL.KA) plans to surrender the foreign bank license for its New York branch, New York bank regulators said on Monday, adding that they intend to expand their review of the Pakistan-based bank’s transactions.

Representatives for Habib must also appear at Sept. 7 hearing, according to documents from the New York State Department of Financial Services.

Reporting by Karen Freifeld and Carmel Crimmins; Writing by Susan Heavey; Editing by Jeffrey Benkoe

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