Soneri Bank to launch asset management subsidiary
MG News | April 27, 2026 at 03:32 PM GMT+05:00
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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