Silkbank

Silkbank Limited, (سِلک بینک لمیٹڈ) 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][2]

Silkbank Limited
FormerlySaudi-Pak Commercial Bank Prudential Commercial Bank Limited
TypePublic
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

Prudential Commercial Bank Limited

The bank was founded in 1994.[3] It began commercial operations on May 7, 1995. It has a network of twenty branches.[4]

Saudi-Pak Commercial Bank

Saudi Pak Industrial and Agricultural Investment Company (Pvt) Ltd (SAPICO) acquired Prudential Commercial Bank Limited on September 15, 2001.[5] The SAPICO gave the bank a new name: Saudi Pak Commercial Bank.[6]

Silkbank Limited

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] In June 2008, the bank changed its name to Silk Bank Limited.[7]

Major Shareholding

In 2015, Arif Habib Group acquired 28.23 percent stake in the bank.[8]

Bank Motto

Yes We Can !!![9]

Awards

Silkbank was awarded Best Innovation in ‘Retail Banking Pakistan 2020’ at the International Bankers Awards.[2]

References
  1. Release, Press (2020-07-09). "Silkbank, Visa partner to further e-commerce drive". Profit by Pakistan Today. Retrieved 2020-07-12.
  2. Content, Sponsored (2020-09-10). "Silkbank – Best Innovation in Retail Banking Pakistan 2020". Profit by Pakistan Today. Retrieved 2020-09-12.
  3. "Saudi Pak Commercial Bank". DAWN.COM. 2002-07-09. Retrieved 2020-09-12.
  4. "Saudi Pak Commercial Bank". DAWN.COM. 2002-07-09. Retrieved 2020-09-12.
  5. "Status of the Company". www.silkbank.com.pk. Retrieved 2020-06-05.
  6. "Saudi Pak Commercial Bank". DAWN.COM. 2002-07-09. Retrieved 2020-09-12.
  7. "Silk Bank Limited – Business Recorder".
  8. "Arif Habib Corp acquires 28% stake in Silkbank". The Express Tribune. 9 December 2015. Retrieved 2 April 2017.
  9. Content, Sponsored (2020-09-10). "Silkbank – Best Innovation in Retail Banking Pakistan 2020". Profit by Pakistan Today. Retrieved 2020-09-12.
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