Karachi, May 9, 2025 – BankIslami, one of Pakistan’s fastest-growing Islamic financial institutions, has acquired the 32-storey Altitude Tower in Karachi to serve as its new national headquarters. This acquisition reflects the Bank’s expanding footprint, strong financial performance, and long-term commitment to scaling innovation and operational excellence in Islamic banking.
The Altitude Tower—Pakistan’s tallest bank-owned office premises—will centralize the Bank’s executive, business, operations, technology, and innovation teams under one roof.
The announcement follows a robust first quarter of 2025. BankIslami reported a Profit Before Tax (PBT) of PKR 5.49 billion, alongside a 6.3% year-on-year growth in total income and a 98% surge in non-fund- based income. The Bank maintained a Capital Adequacy Ratio (CAR) of 22.89%, nearly double the SBP’s minimum requirement of 11.50%, and a healthy Asset-to-Deposit Ratio (ADR) above 50%. BankIslami has also launched ‘aik’, Pakistan’s first fully digital Islamic banking experience. Aik offers a Shariah-compliant, mobile-first experience that enables users to open Riba-free accounts and has already gained traction across both urban and rural markets, reflecting BankIslami’s ability to combine ethical finance with accessible, user-centric innovation.
Commenting on the developments, Rizwan Ata, President and CEO of BankIslami, said: “The acquisition of Altitude Tower represents a major strategic step forward. It strengthens our infrastructure, positions us for future scale, and reinforces our commitment to digital transformation rooted in Islamic principles. With a strong Q1 performance and the successful launch of aik, we are delivering not just growth—but meaningful, purpose-driven progress.” BankIslami currently operates a network of over 540 branches nationwide, supported by 550+ ATMs, and continues to invest in key growth segments including digital banking, home remittance, trade and investment banking, and cash management solutions. The new headquarters will also house the Bank’s Islamic Digital Innovation Lab, dedicated to developing next-generation Shariah-compliant solutions for Pakistan’s evolving financial landscape.
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