Karachi: In a significant development reported on August 7, 2024, Bank AL Habib Limited has announced an increase in the authorized and paid-up capital of its fully owned subsidiary, AL Habib Exchange Company (Private) Limited. According to information available from the Pakistan Stock Exchange (PSX), the capital will be raised from the current Rs. 1 billion to Rs. 3 billion.

This financial enhancement aligns with the Bank's strategic plan to bolster the operations of AL Habib Exchange Company and prepare for prospective expansion activities. The decision was ratified during the Board of Directors meeting of Bank AL Habib Limited, confirming their commitment to scaling the subsidiary’s capabilities in response to growing business demands.

The disclosure complies with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited, ensuring transparency and regulatory adherence in the dissemination of material information that affects listed securities. TRE Certificate Holders of the Exchange have been informed accordingly, as part of the Bank’s obligations to maintain open and timely communication with its investors.