Silkbank
- Arif Habib Group
- International Finance Corporation
- Bank Muscat
- Nomura International
- Sinthos Capital
Silkbank Limited, (سِلک بینک لمیٹڈ) formerly known as Saudi-Pak Commercial Bank, is a Pakistani commercial bank which is based in Karachi, Pakistan.[1] It is the smallest bank of Pakistan.[2][3]
History
Silkbank was founded in 1994 as Prudential Commercial Bank.[4] It began commercial operations on May 7, 1995.[4] It was subsequently listed on the Karachi Stock Exchange.[5]
In September 2001, Saudi Pak Industrial and Agricultural Investment Company acquired Prudential Commercial Bank and renamed it as Saudi Pak Commercial Bank.[6][4]
In March 2008, a consortium comprising International Finance Corporation, Bank of Muscat, Nomura and Sinthos Capital led by Pakistani banker Shaukat Tarin acquired a majority stake in Saudi Pak bank for $213 million.[7][8] In June 2008, the bank changed its name to Silk Bank Limited.[7]
In 2015, Arif Habib acquired 28.23 percent stake in the bank.[9]
Branches
- Karachi
- Lahore
- Islamabad/Rawalpindi
- Peshawar
- Quetta
- Multan
- Faisalabad
- Sialkot
- Hyderabad
- Sukkur
- Gwadar
- Muzaffarabad AJK
- Gilgit
References
- ^ Hussain, Dilawar (February 1, 2021). "Silkbank goes on sale". DAWN.COM.
- ^ Ali, Meiryum (May 23, 2021). "HBL vs Bank Alfalah: the race to buy Silkbank's consumer lending business". Profit by Pakistan Today.
- ^ Farooq, Mariam Umar (May 2, 2023). "Silkbank, UBL in talks for potential merger". Profit by Pakistan Today.
- ^ a b c "Saudi Pak Commercial Bank". DAWN.COM. 2002-07-09. Retrieved 2020-09-12.
- ^ "History of Silkbank".
- ^ "Status of the Company". www.silkbank.com.pk. Retrieved 2020-06-05.
- ^ a b "Silk Bank Limited – Business Recorder".
- ^ "MEED | Omani bankers".
- ^ "Arif Habib Corp acquires 28% stake in Silkbank". The Express Tribune. 9 December 2015. Retrieved 2 April 2017.
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