Bank Makramah Limited (PSX: BML) announced on Thursday that it has received court approval for a settlement application filed jointly with the OMNI Group, aimed at recovering non-performing loans (NPLs) owed by various OMNI Group companies and affiliated entities.

In a statement to the Pakistan Stock Exchange (PSX), the bank confirmed that the court has issued a decree in its favor, allowing the recovery of approximately PKR 10 billion under the agreed settlement terms.

“We are pleased to inform that the Court has accepted the settlement application filed by Bank Makramah Limited and OMNI Group for the recovery of non-performing loans (NPLs) owed by various companies of the OMNI Group and its affiliated entities,” the filing stated.

The settlement marks a significant step for Bank Makramah, which is primarily engaged in banking operations, as it seeks to recover long-outstanding dues.