Silkbank
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| Formerly | Prudential Commercial Bank (1994–2001) Saudi-Pak Commercial Bank (2001–2008) |
|---|---|
| Company type | Public |
| PSX: SILK | |
| Industry | Banking |
| Founded | June 1994 |
| Headquarters | Karachi-75600, Pakistan |
Key people | Shahram Raza Bakhtiari (CEO) |
| Products |
|
| Revenue |  Rs. 7.817 billion (US$27 million) (2020) |
 Rs. −9.691 billion (US$−34 million) (2020) | |
| Rs. −6.571 billion (US$−23 million) (2020) | |
| Total assets | Rs. 267.678 billion (US$930 million) (2020) |
| Total equity | Rs. 4.869 billion (US$17 million) (2020) |
| Owner |
|
| Website | silkbank |
| Footnotes / references Financials as of 31 December 2020[update] [1] | |
Silkbank Limited (Urdu: سِلک بینک) is a Pakistani commercial bank headquartered in Karachi.[2] It is the smallest bank of Pakistan.[3][4]
History
[edit]Silkbank was founded in 1994 as Prudential Commercial Bank.[5] It began commercial operations on May 7, 1995.[5] It was subsequently listed on the Karachi Stock Exchange.[6]
In September 2001, Saudi Pak Industrial and Agricultural Investment Company acquired Prudential Commercial Bank and renamed it as Saudi Pak Commercial Bank.[7][5]
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.[8][9] In June 2008, the bank changed its name to Silk Bank Limited.[8]
In 2015, Arif Habib acquired 28.23 percent stake in the bank.[10]
Branches
[edit]- Karachi
- Lahore
- Islamabad/Rawalpindi
- Peshawar
- Quetta
- Multan
- Faisalabad
- Sialkot
- Hyderabad
- Sukkur
- Gwadar
- Muzaffarabad AJK
- Gilgit
References
[edit]- ^ "Silkbank Annual Report 2020". Retrieved 14 September 2024.
- ^ 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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