KARACHI – A meeting of the Board of Directors of Sindh Bank Sundayapproved merger with Summit Bank which is under investigations for moneylaundering scam.

The management of both the banks will now approach the Supreme Court forissuance of NOC.

Following the approval, the next step would be to take permission fromState Bank of Pakistan.

Summit Bank has 193 branches across the country, while Sindh Bank has 225branches across Pakistan.

After integration, the total number of branches will be 418.