Bank Al-Falah Limited informed Karachi Stock Exchange about disclosure of inside information of the bank in its meeting held on February 26, 2015 at Abu Dhabi. The board members authorized the bank to make equity investment up to PKR 300,000,000/- in its subsidiary M/s. Alfalah Securities Private Limited by way of subscription of ordinary shares.
The announcement is available athttp:// www.kse.com.pk/notices-updates/detail2.php?0.9233615927249326&id=4&nid=063254
Bank Alfalah Limited was incorporated as a public limited company on June 21, 1992. The foundations of the bank are laid under the Companies Ordinance 1984. The banking operations of the company commenced from November 1, 1997. The bank is owned and operated by the Abu Dhabi Group and does business through a network of over 500 branches in more than 170 cities in Pakistan. The bank has an international presence in Afghanistan, Bangladesh, Bahrain and a representative office in the UAE. The shares of the bank are quoted on the Karachi, Lahore and Islamabad stock Exchanges of Pakistan. The registered office of the company is located in Karachi.
The core operations of the bank are providing financial solutions to consumers, corporations, institutions and governments through a broad spectrum of products and services, including corporate and investment banking, consumer banking and credit, commercial, SME, agri-finance, Islamic and asset financing.
The symbol “BAFL” is being used by the stock exchanges for the shares of Bank Al-Falah Limited.