Bank Makramah Limited (BML) has firmly denied recent media reports and market speculation that the bank is being sold. In a statement, the bank clarified that its board of directors has granted in-principle approval to proceed with discussions and engagement with a potential investor regarding a fresh or additional capital injection into the bank.
Purpose of Capital Injection
The primary objective of this potential investment is to strengthen the bank’s minimum capital requirement (MCR) and capital adequacy ratio (CAR). By boosting these metrics, the bank aims to support its growth plans and meet regulatory requirements. Any investment in BML remains subject to satisfactory due diligence, successful negotiation and execution of definitive transaction documents between the parties, and receipt of all applicable corporate and regulatory approvals.
Commitment to Transparency
Bank Makramah Limited has reiterated its commitment to maintaining transparency with its stakeholders. The bank stated that it will make all necessary disclosures in accordance with applicable regulatory requirements as and when material developments occur. This clarification comes amid market rumors that had caused uncertainty about the bank's future ownership.
Background
Earlier, reports had circulated suggesting that Bank Makramah was being sold, prompting the bank to issue this denial. The potential capital injection is seen as a move to bolster the bank's financial position and ensure compliance with regulatory standards set by the State Bank of Pakistan.
