Silkbank

Silkbank, formerly known as Saudi-Pak Commercial Bank, is a Pakistani commercial bank which is based in Karachi, Pakistan. It has a branch network of 123 in 39 cities.[1]

Silkbank
Formerly
Saudi-Pak Commercial Bank Prudential Commercial Bank Limited
Public
IndustryBanking
Founded1994 (1994)
HeadquartersKarachi, Pakistan
Key people
Shahram Raza Bakhtiari (CEO)
ParentArif Habib Group

International Finance Corporation

Bank Muscat

Nomura International

Sinthos Capital
SubsidiariesSPI INSURANCE COMPANY LIMITED
Websitehttps://www.silkbank.com.pk/

History

The bank was founded in 1994.

Saudi Pak Industrial and Agricultural Investment Company (Pvt) Ltd (SAPICO) acquired Prudential Commercial Bank Limited on September 15, 2001.[2]

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.[3] In June 2008, the bank changed its name to Silk Bank Limited.[3]

In 2015, Arif Habib Group acquired 28 percent stake in the bank.[4]

gollark: I remember a poster in my Economics class saying that the worst hyperinflation was in... Hungary, or something?
gollark: Quickly, someone send dalevn a million Zimbabwean dollars!
gollark: That's... *a* view.
gollark: If you *are* a millionaire, remember that said $5 snack costs a mere 200000th of your net worth.
gollark: That's not true. I can think of them giving me a million pounds.

References
  1. Release, Press (2020-07-09). "Silkbank, Visa partner to further e-commerce drive". Profit by Pakistan Today. Retrieved 2020-07-12.
  2. "Status of the Company". www.silkbank.com.pk. Retrieved 2020-06-05.
  3. "Silk Bank Limited – Business Recorder".
  4. "Arif Habib Corp acquires 28% stake in Silkbank". The Express Tribune. 9 December 2015. Retrieved 2 April 2017.
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