Escort Investment Bank, which is recently been acquired by Bahria Town’s Malik Riaz, is ready to go with a new management and administrative board showing a promising future , at the new branch in Bahria Orchid Lahore. Ali Riaz has recently inaugurated the bank and would be functioning along as its CEO.
This would certainly take over the previous issues with the bank as the new and rejuvenated board of directors would be coming in place to infuse a new life in the establishment. Moreover, the list includes names like Umair Rafique Vadria, Karim Hatim, Zain Malik, Naveed Amin, Rashid Ahmed, Tahir Saeed Effendi.
Moreover, it took almost a year for Bahria Town to take over the investment bank, because of some compliance and regulations issues in the middle.
The real estate brand is known for its strong financial health which was reasonable enough to convince the regulator to permit the investment bank’s operations, after a worst financial situation earlier.
While SECP approved the bank to not only take over the major shareholding (71%) in the bank but also taking over its brokerage house, Escort Capital Limited, at a negotiable price of Re1 along with all the coming liabilities.
On the other side, market analysts do believe that the Escort Investment Bank by Bahria Town is likely to deliver the profitability as promised not only to the bank but for the whole investment banking sector. Moreover, it will largely be depending on the caliber and efficiency of the directors to take the company out from the losses towards the profits.
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