Mubasher: Ithmaar Holding, the newly listed on the Dubai Financial Market (DFM), has confirmed the recent news regarding plans to expand in Pakistan, according to a bourse filing on Wednesday.

The expansion plans in 2018 include opening 50 branches in Pakistan to boost its business in the country.

Ithmaar, which is also listed on Boursa Kuwait and Bahrain Bourse (BHB), has operated previous expansion plans through the subsidiary Faysal Bank Limited by launching more than 100 branches across Pakistan in the past two years.

Ithmaar Bank owns 66.6% of Faysal Bank Limited, a retail bank in Pakistan.