Karachi August 8 2024: The Board of Directors of Bank AL Habib Limited, in its meeting held yesterday, approved an enhancement in the authorized and paid-up capital of its wholly owned (100%) subsidiary, “AL Habib Exchange Company (Private) Limited, by three times, according to bank filing to the exchange.
The board approved increase in paid up capital of the exchange company from the existing PKR 1,000 million (PKR 1 billion) to PKR 3,000 million (PKR 3 billion), in order to ensure smooth existing operations and to consider future expansion plan.
The bank earned PKR 3.4 billion through foreign exchange income during the first half of 2024.
