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habib bank

Aga Khan fund intends to acquire additional shares of HBL worth nearly Rs3.5bn 2023-08-02

Habib Bank Pakistan
Source: 
brecorder.com

Habib Bank Limited announced on Wednesday that one of its key sponsors – the Aga Khan Fund for Economic Development (AKFED) – has expressed its intention to purchase additional shares of the bank amounting to nearly Rs3.5 billion from the open market.

The development was shared by HBL in its notice to the Pakistan Stock Exchange (PSX).

Aga Khan Fund Shows Interest to Buy HBL Shares Worth Rs. 3.53 Billion 2023-05-02

AKFED-HBL-.jpg
Source: 
propakistani.pk

On Tuesday, Habib Bank Limited (PSX: HBL) informed the Pakistan Stock Exchange that its sponsor, the Aga Khan Fund for Economic Development (AKFED), has shown its interest to buy additional shares in the bank against an investment of Rs. 3.53 billion.

According to the stock filing, AKFED has informed HBL vide its letter dated May 1, 2023, of its intention to acquire additional shares of the commercial bank from the open market by utilizing the accumulated dividends that have not been repatriated, amounting to Rs. 3,534,747,825.

PM, Aga Khan Fund director discuss economic situation, development projects 2022-09-14

Chairman of Habib Bank Limited and Director of the Aga Khan Fund for Economic Development Sultan Ali Allana called on PM Sharif
Source: 
www.pakistantoday.com.pk

ISLAMABAD: Chairman of Habib Bank Limited and Director of the Aga Khan Fund for Economic Development Sultan Ali Allana called on Prime Minister Muhammad Shehbaz Sharif on Wednesday.

The prime minister conveyed his respects to Prince Raheem Aga Khan and expressed his gratitude for the generous contribution to the flood relief efforts in Pakistan.

During the meeting, they discussed the areas of mutual interest including economic situation in the country and areas of development.

HBL reports almost 14 times profit per share (AKFED subsidiary) 2020-07-24

Photo: Samaa Digital
Source: 
SAMAA

Amid variable interest rates, the Habib Bank Limited reported a net profit of Rs11 billion or Rs7.53 per share for the quarter ending June 2020, which is 13.8 times of Rs750 million or Rs0.44 per share it earned in the same quarter of the previous year, the company’s financial results revealed Friday.

The largest bank of the country saw its net interest income (NII) increase by 44% to Rs35 billion between April and June 2020, compared to Rs24 billion for the same quarter of the previous year.

PC hands over Habib Bank to Aga Khan Fund

Prime Karm Aga Khan IV with Prime Minister Shaukat Aziz  2006-01-01
Source: 
dawn.com

ISLAMABAD, Feb 26: Pakistan on Thursday handed over its second largest bank - Habib Bank Limited (HBL) - to Aga Khan Fund for Economic Development (AKFED) against a two-phased Rs22.409 billion highest bid for 51 per cent shares along with management control received in December last year.

Secretary Privatization Ahmed Waqar and Sultan Allana signed the transfer of management agreement on behalf of the Privatization Commission and AKFED respectively. Finance Minister, Shaukat Aziz and Privatization Minister Abdul Hafeez Shaikh witnessed the signing ceremony.

AGA KHAN FUND OFFERS HIGHEST BID FOR PAKISTAN'S LARGEST BANK - 2003-12-30

AKFED invested in Habib Bank Ltd., which was privatised by the Pakistan government.  2004-02-26

ISLAMABAD: The Aga Khan Fund for Economic Development (AKFED) on Monday gave the highest bid of Rs 22.409 billion ($389 million) for acquiring 51 per cent strategic stake in Habib Bank Limited (HBL). It was the biggest transaction in the history of Pakistan.

(AKDN reports below)


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