KARACHI: BankIslami Pakistan Limited, has announced in the stock market that it is issuing 432 million shares at par to raise its capital to Rs10 billion, a statement said on Thursday.
With this offering, the bank will become second Islamic bank to meet the capital requirement of the State Bank of Pakistan, it said.
As per the financial results of the banking industry as of September 30, 2014, BankIslami commands the second largest market shares in terms of deposits, assets and branch network, consisting of 213 branches in 80 cities nationwide, it said. The bank also plans to add another 24 branches in 2015, it added.