Temasek, a Singapore-based investment company, through its subsidiary, Asia Finance Holdings (AFH), increased its stake in NIB from 25 percent to 72.6 percent. The transaction was completed on June 30. Temasek, which enjoys a AAA (triple A) rating by Moodys' and AAA rating by Standard and Poors, will significantly improve the NIB's capital adequacy and fund mobilising ability.
This fresh allotment of shares will also catapult the NIB into the 'top ten league' in terms of paid-up capital among all local and foreign banks operating in Pakistan.-PR
Comments
Comments are closed.