Pakistan Company News – Material Information of JS Bank Limited

Material Information of JS Bank Limited

Karachi, JS Bank Limited informed Pakistan Stock Exchange that the Bank has submitted an offer to its subsidiary, JS Investments Limited, for the purchase of the Officer Premises collectively measuring 27,604.5 Sq, feet, located at 7th floor, The Forum, Block-9 KDA Scheme No. 5, Clifton, Karachi. If accepted by JSIL, purchase of the Officer premises will be subject to approval of the Board of Directors of the Bank and completion of legal requirements and formalities.

JS Bank Limited is incorporated in Pakistan as a scheduled bank engaged in commercial banking and related services. It is a subsidiary of Jahangir Siddiqui and Company Limited. The bank has a branch network of 211 branches in Pakistan. The stocks of the company are quoted on the Karachi Stock Exchange in Pakistan. The registered office of the company is located in Karachi.

JS Bank Limited has been formed after the merger and amalgamation of Jahangir Siddiqui Investment Bank Limited and commercial banking operations of American Express Bank Ltd Pakistan. The bank commenced operations in Pakistan as a fully scheduled bank on December 30, 2006. It has a Primary Dealer license for government securities from the State Bank of Pakistan. The core activities of the bank are in the segment of retail and consumer banking, treasury, corporate and commercial banking and investment banking.

The symbol “JSBL” is being used by the stock exchanges for the shares of JS Bank Limited.

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