Pakistan, Sept. 8 -- Shareholders of The Bank of Punjab ("BOP" or "the Bank"), at an Extraordinary General Meeting held today, unanimously approved the proposed equity injection of up to PKR 30 billion by the Government of the Punjab ("GoPb") through the issuance of ordinary shares, otherwise than by way of a rights issue.

The President and CEO, Mr. Zafar Masud, addressed the questions raised by shareholders, which answered to their satisfaction.

BOP is currently the lowest-capitalised bank among Pakistan's ten largest banks, with Tier-1 capital of PKR 99.9 billion against total assets of PKR 2,952 billion, and would remain ninth even after the full equity injection. A bank's ability to grow its balance sheet depends on both the strengt...