The Bank of Punjab (BoP) has taken an important step toward expanding its operations beyond Pakistan. The bank has received in-principle approval from the State Bank of Pakistan (SBP) to establish an Overseas Wholesale Banking Unit in Bahrain.
The approval could strengthen BoP’s international presence and support its broader regional expansion plans. However, the bank must secure additional regulatory approvals before starting operations.
BoP Plans Bahrain Wholesale Banking Unit
The listed bank disclosed the development through a notice to the Pakistan Stock Exchange on Thursday.
“We wish to inform you that the (SBP), vide its letter dated 05 August 2026, has granted in-principle approval to the bank for the establishment of an Overseas Wholesale Banking Unit in the Kingdom of Bahrain, subject to obtaining all requisite approvals from the relevant regulatory authorities in Pakistan and the Kingdom of Bahrain, and compliance with the applicable laws, rules, regulations, and conditions stipulated by the SBP,” read the notice.
BoP had already received approval from its Board of Directors in 2024. That approval covered a wholesale banking unit in Bahrain and a representative office in the United Arab Emirates.
The bank said the Bahrain unit will begin operations only after meeting all regulatory requirements. These include obtaining a No Objection Certificate from the Central Bank of Bahrain.
BoP will also need the required banking license from the SBP before launching its operations.
What Wholesale Banking Means
Wholesale banking focuses on financial services for large institutional clients. These include banks, financial institutions, government agencies and major corporations.
Real estate developers and other large businesses can also use wholesale banking services. Therefore, the Bahrain unit could help BoP serve institutional clients in the region.
BoP Expands Its International Footprint
Established in 1989, the Bank of Punjab is a prominent public-sector commercial bank in Pakistan. Over the years, it has expanded significantly and become the country’s second-largest public-sector commercial bank. The planned Bahrain operation represents another step in that growth. Moreover, the move could strengthen BoP’s regional reach once the bank completes the required regulatory process.
