JS Bank Limited (KASE:JSBL) agreed to acquire additional 7.8% stake in BankIslami Pakistan Limited (KASE:BIPL) from Emirates NBD Bank PJSC (DFM:EMIRATESNBD) for PKR 1.1 billion on March 10, 2022. JS Bank Limited will acquire 86,316,954 shares at the rate of PKR 13.24 per share. The acquisition is subject to approval by the shareholders of JS Bank Limited by way of special majority at upcoming Annual General Meeting which is proposed to be held on March 30, 2022 as well as permission of the State Bank of Pakistan and the Competition Commission of Pakistan and final consent from Emirates NBD Bank PJSC. As of October 6, 2022 the transaction is approved by Bank of Pakistan.

JS Bank Limited (KASE:JSBL) completed the acquisition of additional 7.8% stake in BankIslami Pakistan Limited (KASE:BIPL) from Emirates NBD Bank PJSC (DFM:EMIRATESNBD) on November 11, 2022.