KARACHI: Habib Bank Limited (HBL) has received the approval from State Bank of Pakistan (SBP) on its proposal for undertaking an equity injection of Rs 1.4 billion in HBL Asset Management Company Limited. HBL Asset Management Company Limited is wholly owned subsidiary of Habib Bank Limited.

“We are pleased to inform that Habib Bank Limited received the approval of 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 Company Limited, which is to be taken up as defined in SECP S.R.O. 1239 (1)/2017 dated December 6, 2017”, material information sent to Pakistan Stock Exchange on Wednesday said.

Copyright Business Recorder, 2022