Bank Makramah secures court approval for restructuring

Bank Makramah Limited (BML) has received approval from the Islamabad High Court for its restructuring plan, which paves the way for the bank to comply with the State Bank of Pakistan’s (SBP) minimum capital requirements.

The bank disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.

“Consequent to the filing of the Scheme of Arrangement filed under Sections 279 to 283 and 285(8) of the Companies Act, 2017, between Bank Makramah Limited (BML) and Global Haly Development Limited (GHDL), for the restructuring of BML before the Islamabad High Court (IHC), the IHC has graciously passed an order granting its sanction for the scheme.

“Following such sanction of the scheme, BML will now be compliant with the minimum capital requirement (MCR) prescribed by the SBP,” read the notice.

According to the company, the implementation of the scheme will trigger several key changes. BML will issue and allot fully paid ordinary shares to shareholders of GHDL as part of the restructuring process.

The bank will also undertake a reduction of its existing share capital “through cancellation of the share capital unrepresented by available assets.”

Following these adjustments, BML’s issued and paid-up capital will stand at Rs10 billion, divided into one billion ordinary shares with a face value of Rs10 each, effective from the date specified in the court-approved scheme.

“To give effect to the Scheme of Arrangement, book closure will be announced in due course after consultation with the exchange,” read the notice.

On the financial front, BML posted a profit before tax of Rs1.75 billion for the nine months ended September 30, 2025, compared to a loss of Rs5.05 billion in the same period last year.