Askari has announced its decision to redeem Term Finance Certificates (TFCs) worth Rs. 6 billion. The move comes through the exercise of a Call Option.
The full redemption will take place on September 17, 2025, according to the official notice issued to the Pakistan Stock Exchange (PSX). This step is being taken in line with Clause 3.12 of the Trust Deed signed on December 24, 2019, and Clause 27 of the Terms and Conditions.
Askari will repay the entire principal amount, along with any accrued profit. The payment will be subject to applicable deductions for Zakat and tax.
The transfer books will remain closed from September 2 to September 16, 2025 (both days inclusive). TFC holders eligible for the Call Option will be determined based on transfers received by the Registrar, CDC Share Registrar Services Limited in Lahore, by the close of business on September 1, 2025.
These TFCs are rated, subordinated, and unsecured. They were originally issued as part of Askari’s long-term financial planning. The early redemption shows the bank’s confidence in its current financial position.
According to market analysts, the move also reflects Askari’s intent to strengthen its capital structure and reduce financing costs.
Investors have welcomed the clarity and timely communication regarding the redemption. It helps reinforce confidence in Askari’s financial policies and strategic direction.
Askari continues to be a key player in Pakistan’s banking sector, showing commitment to transparency and efficient capital management.
This planned redemption marks another milestone in Askari’s efforts to maintain a balanced and sustainable growth model.
In other related news also read Askari Bank To Establish Its Own Currency Exchange Firm
