Islamabad, 6 May, 2025: BankIslami Pakistan Limited has acquired KASB Altitude, a 32-storey commercial tower in Clifton Block 1, Karachi, to serve as its new office space.
The bank shared the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday but did not disclose the transaction’s financial details.
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“After completing due diligence, securing approvals, conducting structural tests, and finalizing all required contracts, the bank has acquired KASB Altitude as its office premises,” the official notice stated.
This major move follows the bank’s strong financial showing in 2024.
BankIslami recorded a 24.4% jump in pre-tax profits, reaching Rs25.5 billion. Despite economic challenges, its net profit climbed 7.1% to Rs11.8 billion.
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At the time of the announcement, BankIslami’s share price was Rs20.27, marking an increase of Re0.07 or 0.35% on the PSX.
The Bank is involved in corporate, commercial, consumer, retail banking and investment activities.
