Habib Bank (HBL): Final penalty of US$225mn imposed: Reinstate 'BUY' – By Topline Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Department of financial Services (DFS) has fined Habib Bank's New York branch for failure to comply with New York Laws and regulations designed to combat money laundering, terrorist financing and other illicit financial transactions, as per the statement released by DFS on Sep 7, 2017.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Earlier as per HBL's notice dated "Aug 28, 2017", DFS sought to impose penalty of up to US$630mn which has now been set at US$225mn. HBL bank shall have to pay the entire amount within 14 days of executing this Consent order.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">As per DFS, no provision of the Consent Order is subject to review in any...