<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">As per a notice issued at the Pakistan Stock Exchange (PSX),
the State Department of Financial Services (DFS) has sent a notice to Habib
Bank Ltd (HBL) in which DFS seeks to impose civil monetary penalty of up to
US$630mn on the bank. The said penalty is much higher than street expectations,
which was around US$100-300mn. The bank has stated that it will contest the
penalty.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The bank has decided to close its New York operations. As
per the notice, it will have no material impact on HBL’s business outside of
the US and HBL will continue to service the requirements of its domestic and
international customers including US Dollar business.</span></li><li><span st...
