Senior officials from Habib Bank and Pakistan's Privatisation Commission have held talks with local business groups and institutions in Dubai ahead of a key date in the bank's privatisation.

The last date for submission of expressions of interest (EoI) is July 31.

It is learnt that at least one Abu Dhabi-based group has expressed keenness. However, a top Habib Bank official declined to comment.

"This is not a standard roadshow we are having here. What we are doing is meeting specific groups and institutions in the UAE and obtaining their interest in Habib Bank's privatisation," said Zakir Mahmood, the bank's president and chief executive.

"We did the same last week in Europe. However, it would be inappropriate at this stage to mention any of those we met here."

Six EoIs have already been received by the Privatisation Commission, though none from the Gulf so far.

The next stage will see statements of qualification being asked from the interested parties, followed by a due diligence of the pre-qualifiers. These processes will go up to end-September.

Habib Bank is divesting a minimum 26 per cent and could go up to 100 per cent "depending on investor appetite". However, more likely, the stake would be closer to 51 per cent.

"Between now and then, we have no intention to put on hold any of our plans with regard to the bank's operations. The direction is very well established, and it will be business as usual."

Habib Bank operates eight branches in the UAE, 11 in Oman, three in Bahrain, and one offshore banking unit, also in Bahrain. Its overall balance sheet from these operations is $300 million, with the UAE accounting for 60 per cent.

There are no plans to divest any of its branches in the region.

"We certainly enjoy an extensive presence in the Gulf. It is not easy to get licences these days. But we have and what needs to be done is to take much greater advantage of it.

"We are cognisant of factors such as the high cost of operations. Our operations were re-structured in recent years, and will be done further," he said.

"This will bring our ratios more in line with what is required. In the last two years, we have extensively centralised our back office operations. This has brought in more efficiencies."

As part of the transformation, Habib Bank will stress even more on consumer banking in the UAE, to add to its strengths in the middle and top-tier of the corporate market.

"The UAE economy is one of the few exceptions in a very grim global environment. This provides us opportunities for us to grow further."