Bank Makramah approves Nasser Lootah $36mn investment

Bank Makramah Limited (BML) has approved a further Rs10 billion injection from its sponsor, Nasser Abdulla Hussain Lootah, equal to over $36 million. The bank told the Pakistan Stock Exchange on Tuesday that the funds will strengthen its capital base while it meets regulatory requirements. The board's 159th meeting, held on August 18, 2026, also authorised the President and CEO to sign the deposit agreement.

According to Business Recorder, the sum will be booked as an advance against share subscription until approvals for issuing shares to the sponsor, other than through a rights issue, are obtained. The lender, formerly Summit Bank Limited (SMBL), came under the control of a UAE investor in April 2023, after subscribing to 3.98 billion new shares for Rs10 billion.

Last November, the Islamabad High Court approved a restructuring plan letting the bank meet SBP minimum capital requirements, with the sponsor proposing a cut in his holding from 86.1% to 75.8% based on a share value of Rs6.25. In January, BML said the court-sanctioned restructuring had been implemented, clearing accumulated losses.