BMB cumulative distribution to investors reaches $20.7m

Commenting on the distribution, the CEO of BMB Mr. Akbar Habib said, "We are very pleased with being able to announce the 'thirteenth' consecutive quarterly distribution despite challenging and unfavorable market conditions. This extra-ordinary feat remains testament to the vigorous and relentless endeavours as undertaken by the present management to restructure the Bank which was facing many challenges which included - amongst other - an obsolete and third-party dependent business model."

He added, "At present, the bank has been transformed to encompass multiple-line business platform that has achieved remarkable success as evident by its consistent and sustained net positive operating performance over the last three years. This has been duly recognized by Fitch who recently upgraded BMB's Outlook to Positive - which puts the Bank at its highest ever rating in its history. Therefore, we now look to the future with a great degree of confidence and optimism."