Silkbank

Silkbank Limited
Formerly	Saudi-Pak Commercial Bank; Prudential Commercial Bank Limited
Company type	Public
Traded as	PSX: SILK
Industry	Banking; Islamic Banking
Founded	June 1994; 29 years ago
Headquarters	Karachi-75600, Pakistan
Key people	Shahram Raza Bakhtiari (CEO)
Products	Loans; Credit Cards; Debit Cards; Savings; Consumer Banking; Business Banking; Islamic Banking;
Parent	Arif Habib Group; International Finance Corporation; Bank Muscat; Nomura International; Sinthos Capital;
Subsidiaries	SPI INSURANCE COMPANY LIMITED
Website	https://www.silkbank.com.pk/

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[edit]

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[edit]

Karachi
Lahore
Islamabad/Rawalpindi
Peshawar
Quetta
Multan
Faisalabad
Sialkot
Hyderabad
Sukkur
Gwadar
Muzaffarabad AJK
Gilgit

References[edit]

^ 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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[1] Hussain, Dilawar (February 1, 2021). "Silkbank goes on sale". DAWN.COM.

[2] Ali, Meiryum (May 23, 2021). "HBL vs Bank Alfalah: the race to buy Silkbank's consumer lending business". Profit by Pakistan Today.

[3] Farooq, Mariam Umar (May 2, 2023). "Silkbank, UBL in talks for potential merger". Profit by Pakistan Today.

[auto1-4] "Saudi Pak Commercial Bank". DAWN.COM. 2002-07-09. Retrieved 2020-09-12.

[5] "History of Silkbank".

[6] "Status of the Company". www.silkbank.com.pk. Retrieved 2020-06-05.

[auto-7] "Silk Bank Limited – Business Recorder".

[8] "MEED | Omani bankers".

[9] "Arif Habib Corp acquires 28% stake in Silkbank". The Express Tribune. 9 December 2015. Retrieved 2 April 2017.

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