KARACHI: Bank Makramah Limited has completed the sale of its remaining stake in Cullinan Tower.

The property was formerly known as Summit Tower and is located in Karachi.

The transaction was completed for a total consideration of Rs. 12 billion. The Bank confirmed receipt of the full sale proceeds.

According to a material information disclosure, the transaction concerns the Cullinan Tower property. The property is situated at Plot No. G 2, Block 2, Scheme 5, Clifton, Karachi.

The Bank submitted the disclosure to the Pakistan Stock Exchange (PSX) on September 2.

Bank Makramah said it had received the entire remaining sale consideration. The company also confirmed that the transaction had been successfully completed.

The disclosure was issued under Section 96 of the Securities Act, 2015. It was also made under Clause 5.6.1(a) of the PSX Rule Book.

The latest announcement follows an earlier disclosure by the Bank. That disclosure was issued on August 1, 2025.

The earlier announcement concerned the planned sale of the property. The latest statement confirms the completion of the remaining transaction.

The Rs. 12 billion proceeds will provide additional liquidity to Bank Makramah. The Bank is continuing efforts to improve its overall financial position.

The property sale marks a significant transaction for the financial institution. It converts the remaining interest in the commercial property into cash proceeds.

Bank Makramah did not provide further details about the use of the funds. However, the transaction is expected to support its financial management efforts.

The completion was formally communicated to the PSX through the required regulatory disclosure.

Material information disclosures help investors receive timely updates about major corporate developments. Listed companies are required to report significant transactions under applicable regulations.

The completion of the Cullinan Tower sale therefore represents an important corporate development for Bank Makramah.

The transaction also concludes the remaining sale consideration related to the Karachi property.

Bank Makramah has now received Rs. 12 billion from the completed sale. The development comes as the Bank continues its efforts to strengthen its financial position.

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The announcement was made on September 2, 2026, through the Bank’s disclosure to the Pakistan Stock Exchange.