Silkbank

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Silkbank Limited
FormerlySaudi-Pak Commercial Bank
Prudential Commercial Bank Limited
TypePublic
IndustryBanking
Islamic Banking
Founded1994; 28 years ago (1994)
HeadquartersKarachi, Pakistan
Key people
Shahram Raza Bakhtiari (CEO)
Products
  • Loans
  • Credit Cards
  • Debit Cards
  • Savings
  • Consumer Banking
  • Islamic Banking
Parent
SubsidiariesSPI INSURANCE COMPANY LIMITED
Websitehttps://www.silkbank.com.pk/

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]

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. ^ a b "Silkbank – Best Innovation in Retail Banking Pakistan 2020". Profit by Pakistan Today. 2020-09-10. 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. ^ a b "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. ^ "Silkbank – Best Innovation in Retail Banking Pakistan 2020". Profit by Pakistan Today. 2020-09-10. Retrieved 2020-09-12.


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