Karachi: BankIslami Pakistan Limited has announced the successful acquisition of KASB Altitude for its office premises following comprehensive due diligence and securing necessary approvals, according to a formal disclosure in compliance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations. The acquisition marks a significant move for the bank as it continues to expand its operational footprint in Karachi.

The transaction was completed after a series of meticulous steps, including structural testing, obtaining consents, completing required formalities, and executing the appropriate contracts. This acquisition underscores BankIslami’s strategic focus on enhancing its infrastructure to support its growth trajectory.

According to information available from the Pakistan Stock Exchange (PSX), the completion of this acquisition aligns with the bank's plans to strengthen its presence in the financial hub of Pakistan. The KASB Altitude location is considered strategically advantageous, providing enhanced accessibility and visibility in the market.

BankIslami’s adherence to the regulations set forth by the Pakistan Stock Exchange and the Securities Act ensures transparency and compliance in its operational activities, reflecting its commitment to maintaining high standards in its business practices. The disclosure was made to inform the TRE Certificate holders of the exchange accordingly, as required by the relevant regulatory framework.