Security Investment Bank receives loan to bolster minimum capital requirement

KARACHI: A bourse notification filed by Security Investment Bank Limited (SIB) revealed it will be receiving funds in form of subordinate loan for three years to meet its minimum capital requirement.

In a board meeting of SIB on 23rd January, it was decided that funds will be received from sponsors/directors in form of subordinate loan for three years with profit six months KIBOR, read the notification.

Also, SIB simultaneously will start process for issuance of right shares, read the notification. Security Investment Bank Limited (SIB) is a Pakistan-based non-banking finance company (NBFC). The Company offers various services, which include corporate financing, car financing and corporate advisory services.

It was sponsored by Yunus Brothers and Gul Ahmed groups in 1992.

SIB shares were trading at Rs6.30 and KSE-100 index was trading at 45,111.75 points, up 204.55 points from its close Tuesday.

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