Bank Makramah Limited (BML) has filed a settlement application with the relevant court for the recovery of non-performing loans (NPLs) amounting to approximately PKR 10 billion, according to a filing at the Pakistan Stock Exchange (PSX) on Wednesday.
These loans are owed by various companies of the Omni Group and its affiliated entities and will now be recoverable under the agreed terms of the settlement.
“We are pleased to inform that Bank Makramah Limited has today filed a settlement application before the relevant Court, for the recovery of non-performing loans (NPLs) owed by various companies of the Omni Group and its affiliated entities. The settlement pertains to the amount of approximately PKR 10 billion, which will now be recoverable under the agreed terms of the settlement,” the bank said in its notice to the PSX.
In a separate development, the TFC Holders of BML, during an Extraordinary General Meeting (EOGM) held on January 21, 2025, decided to continue as TFC holders of the bank. The Scheme of Arrangement for the restructuring of BML, as approved earlier by its shareholders, will also remain in place.
