Faysal Bank to inject Rs500 mln in Faysal Asset Management to improve its credit rating

MG News | August 23, 2019 at 12:40 PM GMT+05:00

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August 23, 2019 (MLN): The Board of Directors of Faysal Bank Limited, in its Board Meeting held on August 22, 2019 has approved an injection of Rs. 500 million capital in the Faysal Asset Management Limited (FAML), i.e. a 99.99% owned subsidiary of Faysal Bank.

The purpose and objective of injecting further capital in FAML is to facilitate the improvement in its credit rating which in turn will facilitate FAML in soliciting large ticket funds with blue chip corporates.

FAML is a strategic investment of Faysal Bank and the proposed investment will facilitate in achieving the objective of making FAML profitable and a significant player in the asset management sector as with the proposed capital injection FAML will be able to enhance its business capabilities and thereby become profitable.

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