Pakistan News

BankIslami profit jumps

KARACHI: BankIslami Pakistan Ltd announced a profit-after-tax at Rs1.70bn translating into earnings per share at Rs1.54 for the year ended Dec 31, 2020, up 41.3pc from PAT at Rs1.09bn and EPS at Rs1.06 the previous year.

Financing in FTMM converted into equity

Treet Corporation Ltd stated in a notice to the PSX that the SECP had given its no objection to converting the Rs6.88bn financing in the First Treet Manufacturing Modaraba (FTMM) into equity by issuance of 688m shares, other than right certificates of FTMM at Rs10 each (at par) to Treet Corporation Ltd without offering the same to the existing members of the Modaraba (FTMM) as provided in Section 83(1)(b) of the Companies Act 2017.

Published in Dawn, March 4th, 2021

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