Askari Bank Limited Perpetuates Stability with Tier-I Debt Security

Karachi, Askari Bank Limited continues to strengthen its financial base with the perpetual debt security, “AKBLTFC 6.” According to information available from the Pakistan Stock Exchange (PSX), this Tier-I Term Finance Certificate (TFC) carries a profit rate pegged to the 6-month KIBOR plus 1.5%. With a total issue size of PKR 6 billion, the security maintains an outstanding principal of PKR 6 billion, with the next coupon due on July 3, 2024. The security is traded with a market lot of 1 and a high face value of PKR 1,000,000, reflecting its targeted investor base.