Business & Finance Print edition: 2020-10-30

Year ended Dec 31, 2018: Summit Bank announces financial results

Published October 30, 2020 Updated October 30, 2020 02:54am

1 min

By Recorder Report

Add BRecorder as a trusted
source on Google

KARACHI: Summit Bank has recently announced its financial results after approval of the Board and has successfully concluded its AGM in Islamabad for approval of these financial results for year ended December 31, 2018.

Earlier, the Bank has also announced the appointment of Waseem Mehdi Syed as the Chairman of the Board. Further, Zafar Iqbal Siddiqi, Wajahat Ahmed Baqai and Ms. Fauzia Hasnain have also joined the Board of Directors of the Bank.

A prospective foreign investor in early April 2020 has already issued a Letter of Intent to inject the fresh equity in the Bank so that the Bank can meet its MCR and CAR requirements. The AGM was held on October 26, 2020 wherein it was mentioned that the Bank intends to convert its total operations into an Islamic bank.

Read Comments