Karachi, First Credit and Investment Bank Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on April 27, 2019.
The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2019 which portrayed a profit of Rs. 5,591,826 with earnings per share 0.09 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
First Credit and Investment Bank Limited was incorporated in Pakistan on August 31, 1989. It is a joint venture company of National Bank of Pakistan and Water & Power Development Authority structured under the Companies Ordinance, 1984 as a private limited company. In November 2003 the company was converted to a public limited company. Subsequently in 2004 it acquired an Investment Banking Services license from the Securities and Exchange Commission of Pakistan. The functions of the business include developing the capital market and corporate debt instrument market of Pakistan. The registered office of the company is located in Karachi. The shares of the company are quoted on the Karachi Stock Exchange.
The bank is engaged in providing both fund and non fund based facilities and advisory services to its customers. The company is also licensed to undertake business of investment finance services as a Non-Banking Finance Company under the Non-Banking Finance Companies rules 2003 issued by the Securities and Exchange Commission of Pakistan.
The symbol “FCIBL” is being used by the stock exchange for the shares of First Credit and Investment Bank Limited.