{"id":5531,"date":"2024-05-31T14:31:04","date_gmt":"2024-05-31T09:31:04","guid":{"rendered":"https:\/\/ksestocks.com\/blog\/?p=5531"},"modified":"2024-05-31T14:31:11","modified_gmt":"2024-05-31T09:31:11","slug":"fabl-shareholders-approve-75-stake-sale-in-fbl-to-gfh","status":"publish","type":"post","link":"https:\/\/ksestocks.com\/blog\/fabl-shareholders-approve-75-stake-sale-in-fbl-to-gfh\/","title":{"rendered":"FABL shareholders approve 75% stake sale in FBL to GFH"},"content":{"rendered":"\n<p>In a notification sent to PSX on 31\/05\/2024, <a href=\"https:\/\/ksestocks.com\/blog\/tag\/fabl\/\" target=\"_blank\" rel=\"noopener\" title=\"FABL\">Faysal Bank Limited (FABL)<\/a> has announced the growth strategy continues amidst stake transfer, expansion, and the customer service focus.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>At an Extraordinary General Meeting (EOGM) of Ithmaar, shareholders approved the sale or transfer of <strong>75%<\/strong> of Ithmaar&#8217;s stake in FBL to GFH or its subsidiaries\/nominee companies. This would constitute around <strong>50%<\/strong> of FBL&#8217;s total outstanding shares, giving GFH controlling interest. The transaction is contingent upon regulatory approvals and compliance with legal requirements in Pakistan and Bahrain. An agreement is expected to be finalized soon, pending these approvals.<\/p>\n\n\n\n<p>Despite the transaction, FBL intends to maintain its current growth strategy. This includes expanding its branch network, focusing on human resources, investing in technology and digital channels, and providing top-tier customer service with a wide range of Shariah-compliant products. FBL aims to remain the premier Islamic bank in Pakistan.<\/p>\n<\/blockquote>\n\n\n\n<p><a href=\"https:\/\/ksestocks.com\/blog\/tag\/fabl\/\" target=\"_blank\" rel=\"noopener\" title=\"FABL\">FABL<\/a> shares were last trading at <strong>Rs. 44.90<\/strong> today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Faysal Bank Limited (FABL) has announced the growth strategy continues amidst stake transfer, expansion, and the customer service focus.<\/p>\n","protected":false},"author":11,"featured_media":5534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[152],"tags":[295],"class_list":["post-5531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-material-information","tag-fabl"],"featured_image_src":{"landsacpe":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/05\/FABL-Material-Information-1140x445.png",1140,445,true],"list":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/05\/FABL-Material-Information-463x348.png",463,348,true],"medium":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/05\/FABL-Material-Information-300x188.png",300,188,true],"full":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/05\/FABL-Material-Information.png",1920,1200,false]},"_links":{"self":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts\/5531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/comments?post=5531"}],"version-history":[{"count":0,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts\/5531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/media\/5534"}],"wp:attachment":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/media?parent=5531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/categories?post=5531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/tags?post=5531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}