Karachi May 25 2022: Habib Bank Limited received the approval from State Bank of Pakistan on its proposal for undertaking an equity injection of Rs 1.4 billion in its wholly owned subsidiary namely HBL Asset Management Limited, according to banks filling to the exchange.
HBL Asset Management Limited (HBL AMC) is a wholly-owned subsidiary of HBL, the largest commercial bank in Pakistan. The company was incorporated in February 2006 as a public limited company under the Companies Ordinance 1984. It was licensed for Investment Advisory and Asset Management Services by the Securities and Exchange Commission of Pakistan in April 2006.
The company launched its first fund in 2007 and has developed a track record of strong and consistent growth over the past decade. With a nationwide footprint of retail and corporate clients, HBL AMC is one of the largest private fund management companies in the country. During the year 2016, HBL AMC acquired PICIC Asset Management Company Limited which has subsequently merged into HBL AMC.
