QTECH clears banking debt, settles liabilities with BOP, HMB

According to Mettis Global, QTECH has closed out every obligation it owed to The Bank of Punjab and Habib Metropolitan Bank, so no bank debt remains outstanding. The company described the arrangement as a significant milestone in restoring its finances, with its legacy lender commitments now resolved. No settlement amount, date or terms were disclosed in the notice.

Management expects that clearing the bank borrowings will strengthen the company's financial standing by lowering its obligations and widening its room for decisions. With lender matters no longer demanding attention, the company can now channel more management time into its transformation agenda, fresh commercial openings and technology alliances. The firm also reiterated its openness, measured financial stewardship and aim of building lasting gains for shareholders.