BankIslami Acquires Pakistan’s Tallest Bank Building in Karachi

BankIslami Pakistan Limited (PSX: BIPL) has acquired a 32-storey commercial building in Karachi to use as its office premises, the bank informed the main bourse on Tuesday. “Pursuant to satisfactory due diligence, obtaining the requisite approvals, structural testing and consents, completing the necessary formalities, and execution of appropriate contracts, the Bank has successfully acquired KASB Altitude, a strategically located 32-storey commercial building in Clifton Block 1, Karachi, for the Bank’s office premises,” the stock filing read. The Bank is principally engaged in corporate, commercial, consumer, retail banking and investment activities.