MCB Bank Ltd. (MCB.KA) said Monday its board has approved a proposal to acquire Royal Bank of Scotland Group PLC's (RBS) operations in Pakistan.

The acquisition is subject to signing of a share-purchase agreement and approvals from the State Bank of Pakistan and other regulators, MCB said in a statement to the Karachi Stock Exchange.

-By Haris Zamir contributing to Dow Jones Newswires; 91-11-43563354; meenakshi.ray@dowjones.com