KARACHI: In a significant development, Summit Bank Limited (SMBL) has undergone a transformation and re-branded itself as Bank Makramah Limited (abbreviated as BML), the new name and logo shall be effective and visible across all platforms from November 27, 2023.

The Pakistan Stock Exchange (PSX) has duly notified all participants regarding the new name. Moreover, the National Clearing Company of Pakistan Limited (NCCPL) responded to the bank’s request by assigning the new security symbol ‘BML’ in alignment with the re-branding initiative.

This shift in identity follows the decision made by the Board of Directors (BoD) on July 17, 2023, to redefine the bank’s name. This change has been officially communicated through a notice issued by the local bourse.

Copyright Business Recorder, 2023