FNBM · First National Bank Modaraba
Quarterly Progress Report for the Quarter ended September 30, 2026
- Filed
- 2 October 2026 at 3:07 pm
- Category
- Other
- Sentiment
- Neutral
- Impact
- High
AI executive summary
First National Bank Modaraba submitted its quarterly progress report for the quarter ended September 2026, detailing the nature of its non-compliance regarding accumulated losses and ongoing SECP winding-up proceedings. The management and board are finalizing a structured revival plan, supported by active NPL recoveries, to address regulatory challenges and comply with PSX regulations.
Key takeaways
- SECP filed a winding-up petition against FNBM in the Modaraba Tribunal, Lahore, due to accumulated losses exceeding 50% of paid-up capital.
- FNBM has achieved significant cash recoveries from NPLs through court-awarded decrees and settlements, leading to proportionate provision reversals.
- The board and management are finalizing a structured revival plan aimed at addressing regulatory, operational, and financial challenges with sponsorship from National Bank of Pakistan (NBP).
- FNBM expects that with continued cash recoveries and patronage from NBP, it may be able to comply with the 50% capital threshold within the next two years.
- The winding-up petition matter is currently pending adjudication before the Honorable Modaraba Tribunal, Lahore.
Filing details
Financial results
Quarterly · Unaudited
- Board and management undertook a strategic review of operations and are finalizing a structured revival plan aimed at addressing regulatory, operational, and financial challenges.
- Submitted a proposal to NBP (Sponsoring Bank) for the revival of FNBM's business.
- Prayed before the Modaraba Tribunal, Lahore, to set aside and remand the winding-up petition back to SECP to allow an opportunity for an amicable arrangement.
Dividend and entitlement
- Type
- None
- Notes
- The document is a quarterly progress report and contains no declaration of cash dividend, bonus shares, or rights entitlement.
- #fnbm
- #secp
- #winding-up
- #npl
- #revival-plan
This summary is AI-generated and may contain errors or omissions. Review the official PSX filing before making an investment decision.