Summit Bank's major shareholder to issue fresh equity as prospective foreign investor

By MG News | September 21, 2020 at 02:22 PM GMT+05:00

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September 21, 2020 (MLN): Summit Bank Limited has issued a Public Notice to announce that the major Shareholder of the Bank, His Excellency Nasser Abdulla Hussain Lootah has issued Letter of Intent to inject fresh equity in the Bank as prospective foreign investor subject to necessary regulatory approvals in due course to ensure that the Bank meets its capital requirement as per applicable MCR and CAR.

The notice also apprised about the appointment of Mr. Waseem Mehdi Syed as Chairman of the Board of Directors, along with Mr. Wajahat Ahmed Baqai, Mr. Zafar Iqbal Siddiqui an Ms. Fauzia Hasnain as members of the Board of Directors of the Bank.

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