The Bank of Punjab (KASE:BOP) entered into a Memorandum of Understanding to acquire unknown Majority stake in NRSP Microfinance Bank Limited from National Rural Support Program and others on December 29, 2021. Any actual investment by the BOP will be subject to the decision of the Board of Directors, due diligence, procurement of all applicable regulatory and corporate approvals and compliance with the requirements of the law. The board has further authorized the BOP to, subject to receipt of the prior approval of the State Bank of Pakistan (SBP), conduct due diligence of NRSP MF Bank and based on the findings of the due diligence exercise, if the management of the BOP so deems fit, proceed with the drafting and negotiations of definitive documents with the potential sellers.