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From Wikipedia, the free encyclopedia
Silkbank Limited, (Urdu: سِلک بینک) 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]
Formerly | Saudi-Pak Commercial Bank Prudential Commercial Bank Limited |
---|---|
Company type | Public |
PSX: SILK | |
Industry | Banking Islamic Banking |
Founded | June 1994 |
Headquarters | Karachi-75600, Pakistan |
Key people | Shahram Raza Bakhtiari (CEO) |
Products |
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Parent |
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Website | silkbank |
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]
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