BankIslami Pakistan
ISLAMABAD: JS Bank accomplished the collection of applications for 483 million shares of BankIslami Pakistan Limited. It surpassed the initial offer size of 276 million shares.
This achievement resulted from a public offer that initiated on August 15, 2023, and concluded on August 21, 2023.
The bank’s manager reported that all shareholders who submitted 500 or fewer shares had their applications accepted.
For applications exceeding 500 shares, a pro-rata ratio of 57.06% was applied.
Furthermore, the bank ensured the return of surplus shares to the shareholders and completed payments for the accepted shares.
The bank conducted payment transactions through direct transfers to the IBANs listed in the eligible shareholders’ roster.
In cases where IBANs were unavailable, the bank issued pay orders on August 24, 2023, to the respective addresses specified in the Acceptance Letter.
The bank’s manager also confirmed the acquirer’s adherence to all obligations pertaining to the public offer as outlined in the Securities Act, 2015, and the Takeover Regulations.
Additionally, the bank stated its intention to release the security furnished by the acquirer in accordance with the applicable regulations.
12 Banks show record profit of 585 billion
Meanwhile, in sharp contrast to the ongoing economic crisis in Pakistan, 12 banks operating in Pakistan reported a record profit of 585 billion rupees in the calendar year 2022.
It is the pre-tax profit the banks reported to the State Bank of Pakistan and the Pakistan Stock Exchange in recent days.
This time and, in fact, for the first time, Meezan Bank took the lead over all other leading banks in earning profit in 2022. Meezan Bank earned Rs 88 billion profit before tax for the year 2022.
The second highest profit-making bank in Pakistan was Habib Bank Limited. It reported 77.02 billion rupees in profit before paying taxes to the government. MCB Bank closely followed the HBL with 75.34 billion rupees in profit in the calendar year 2022.
United Bank Limited is the fourth largest bank in terms of profit-taking. It reported 68.43 billion rupees pre-tax profit last year.
The state-run largest commercial bank in size _ the National Bank of Pakistan earned 63.60 billion in profit before tax.
In profit-making, Allied Bank Limited and Bank Al-Falah Limited remained far behind their competitors. Allied Bank reported 46.78 billion rupees profit while BAFL earned 36.67 billion profit before taxation.
Similarly, Bank Al-Habib emerged as the seventh largest bank in the country and it earned 33.05 billion pre-tax profit in 2022.
Askari Commercial Bank reported a 27.47 billion rupees profit while Habib Metropolitan Bank earned 28.46 billion rupees pre-tax profit last year, followed by Faysal Bank with a 22.39 billion profit. Bank of Punjab also earned 18.37 billion in profit before tax for the year 2022.
