Soneri Bank to launch asset management subsidiary

MG News | April 27, 2026 at 03:32 PM GMT+05:00

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April 27, 2026 (MLN): Soneri Bank Limited (PSX:SNBL) has secured board approval to establish a wholly owned Asset Management Company (AMC) as a subsidiary, marking a significant step toward diversifying its business operations.

The decision was taken at the bank's 216th Board of Directors meeting held in Karachi, according to the company’s filing to the Pakistan Stock Exchange.

The proposed AMC will be incorporated with an initial paid-up capital of Rs1 billion (Rs1,000,000,000), to be fully subscribed and funded by the bank.

The move is subject to obtaining all requisite regulatory approvals and licenses from the Securities and Exchange Commission of Pakistan (SECP) and other relevant authorities.

Soneri Bank added that further developments will be communicated to the exchange as and when they become material.

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