Askari Bank obtains SBP’s approval on issuance of TFCs to raise PKR 7 billion

MG News | October 11, 2019 at 03:48 PM GMT+05:00

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October 11, 2019: Askari Bank Limited has obtained in-principle approval from the State Bank of Pakistan, to raise up to Rs. 7 billion via issue of Term Finance Certificates.

Upon successful issuance of the aforementioned proposed TFCs, the bank shall be permitted to exercise the Call Option in full in relation to the subordinated Term Finance Certificate issue in the amount of Rs. 4 billion issued by the Bank on September 30, 2014.

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