BankIslami issuing 432 million shares to meet MCR

Karachi January 1,2015: BankIslami Pakistan Limited, has announced in the stock market that it is issuing 432 million shares at par to raise its capital to Rs. 10 billion. With this offering, the Bank shall become second Islamic bank to meet the capital requirement of State Bank of Pakistan. As per financial results of the banking industry as at September 30, 2014, BankIslami commands the second largest market shares in terms of deposits, assets and branch network which consists of 213 branches in 80 cities nationwide. It is planning to add another 24 branches in 2015