Bank Makramah Limited (BML) has announced a series of major developments that underscore its ongoing recapitalization and strategic turnaround, signaling renewed financial strength and long-term growth for the institution.
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A key milestone in this transformation is the receipt of a PKR 5 billion deposit from His Excellency Nasser Abdulla Hussain Lootah, the Bank’s principal Sponsor. This latest capital infusion, recorded as an advance against share subscription pending regulatory approval, follows an earlier PKR 10 billion injection made in 2023—bringing his direct capital support to PKR 15 billion to date.
In a further show of commitment, the proposed merger of Global Haly Development Limited—a company also owned by the Sponsor—into BML will significantly expand the Bank’s capital base. Once completed, this combined effort will represent a monumental PKR 41 billion contribution from the Sponsor alone, demonstrating a profound belief in BML’s potential and the future of Pakistan’s banking landscape.
Alongside these capital initiatives, BML’s Board of Directors has approved the sale of Cullinan Tower, a prominent property located in Clifton, Karachi. The PKR 12 billion transaction will generate meaningful liquidity and unlock considerable capital gains for the Bank, further reinforcing its balance sheet.
Additionally, the Bank is in the final stages of recovering over PKR 13 billion in legacy non-performing loans. This development is expected to significantly boost BML’s profitability and enhance its capital adequacy.
Combined, these strategic moves are projected to increase Bank Makramah’s net assets by approximately PKR 50 billion. The Bank expresses its deepest gratitude to His Excellency Nasser Abdulla Hussain Lootah for his continued leadership and commitment to strengthening the financial future of both BML and Pakistan’s wider banking sector.
