Silkbank

Silkbank Limited
Formerly	Prudential Commercial Bank (1994–2001) ; Saudi-Pak Commercial Bank (2001–2008)
Company type	Public
Traded as	PSX: SILK
Industry	Banking
Founded	June 1994; 30 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;
Revenue	Rs. 7.817 billion (US$27 million) (2020)
Operating income	Rs. −9.691 billion (US$−34 million) (2020)
Net income	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	Arif Habib Corporation (28.23%); Shaukat Tarin (11.55%); Zulqarnain Nawaz Chattha (7.75%); International Finance Corporation (7.74%); Nomura (3.93%); Bank Muscat (3.48%);
Website	silkbank.com.pk
	Footnotes / references; Financials as of 31 December 2020

Silkbank Limited (Urdu: سِلک بینک) is a Pakistani commercial bank headquartered in Karachi.^[2] It is the smallest bank of Pakistan.^[3]^[4]

History

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

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

References

^ "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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[AR2020-1] "Silkbank Annual Report 2020". Retrieved 14 September 2024.

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

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

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

[auto1-5] "Saudi Pak Commercial Bank". DAWN.COM. 2002-07-09. Retrieved 2020-09-12.

[6] "History of Silkbank".

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

[auto-8] "Silk Bank Limited – Business Recorder".

[9] "MEED | Omani bankers".

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

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