The Bank of Punjab has received in-principle approval from the State Bank of Pakistan (SBP) to establish an Overseas Wholesale Banking Unit in the Kingdom of Bahrain, marking a key step in the bank's international expansion strategy.

According to the bank's disclosure to the Pakistan Stock Exchange (PSX), the SBP granted the in-principle approval through its letter dated August 5, 2026, subject to obtaining all necessary regulatory approvals from the relevant authorities in both Pakistan and Bahrain, as well as compliance with applicable laws, regulations, and conditions stipulated by the central bank.

The proposed Overseas Wholesale Banking Unit will commence operations only after the bank secures all required approvals, including a No Objection Certificate (NOC) from the Central Bank of Bahrain and the issuance of the necessary banking license by the State Bank of Pakistan.

The disclosure follows the bank's earlier announcement made on July 4, 2024, regarding its plans to establish a banking presence in Bahrain.