SME Bank Board Approves Action Plan to Wind Down SME Leasing

The Board of Directors at SME Bank Limited has given the green light to an action plan focused on the winding down of SME Leasing operations.

In a notification to the Pakistan Stock Exchange, the company stated that alongside approving the action plan for winding down SME Leasing—with the possibility of selling it as a separate entity—the SME Bank Board has directed management to update the Securities and Exchange Commission of Pakistan (SECP) on the bank’s liquidation status. They also requested SECP to postpone the scheduled hearing for SME Leasing until the appointed liquidator can properly evaluate SME Leasing’s financial matters.

According to the notification, the State Bank of Pakistan (SBP), in accordance with an Islamabad High Court directive, has appointed Adnan Imran, Chief Manager of the Islamabad Office, as the Liquidator of SME Bank Limited, effective immediately.

Information on the company’s official website indicates that SME Leasing Limited was established in Pakistan in July 2002 and was listed as a public company in December 2006.

SLL operates as a subsidiary of SME Bank Limited, which possesses 73.14% of the company’s shares. It is licensed to conduct leasing activities as a Non-Banking Finance Company (NBFC) under the regulations established by the Securities and Exchange Commission of Pakistan.