JS Bank Successfully Completes Acquisition of Majority Shares in BankIslami Pakistan Limited

Karachi, JS Bank Limited, following the Public Announcement of Offer, confirms the successful completion of its acquisition endeavor. The bank, with Next Capital Limited as the Manager to the Offer, had initiated the process on June 27, 2023, with the goal of acquiring a majority of voting shares and control over BankIslami Pakistan Limited (BIPL).

With agreements in place and a public offer in motion, JS Bank has triumphantly secured 67.33% of ordinary shares in BIPL, marking a significant milestone in its strategic expansion and strengthening its position in the banking industry.

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