Karachi, Askari Bank Limited informed Pakistan Stock Exchange to acquire up to 84.51% shares of Samba Bank Limited (*Target Company’) held by Saudi National Bank (‘SNB’), subject to receipt of regulatory and other approvals (*Transaction’) .
SNI3, in its capacity as the immediate parent company of the Target Company, has decided to terminate the process and accordingly the Transaction, for the sale of SNIVS equity stake in the Target Company citing considerable uncertainty in market conditions.
Askari Bank Limited was incorporated in Pakistan in 1991, as a Public Limited Company. The commenced operation of the Company on April 01, 1992. The bank is principally engaged in the business of banking, as defined in the Banking Companies Ordinance, 1962.
Askari Bank Limited is listed on Pakistan Stock Exchange, and the shares of the Company are quoted in Pakistan Stock Exchange, with the symbol “AKBL” of the Company.
The total number of shares the company has issued are 1,260,260,180. Earnings Per Share in 2020 is 8.57 which was 5.57 in 2019. The Profit After Taxation has increased in 2020 and is 10,800,375,000 whereas it was 7,017,022,000 in 2019.