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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 (1994-06)
Fate	Merged into United Bank Limited
Successor	United Bank Limited
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) was a Pakistani commercial bank headquartered in Karachi. It was the smallest bank of Pakistan.

History

Silkbank was founded in 1994 as Prudential Commercial Bank. It began commercial operations on May 7, 1995. It was subsequently listed on the Karachi Stock Exchange.

In September 2001, Saudi Pak Industrial and Agricultural Investment Company acquired Prudential Commercial Bank and renamed it as Saudi Pak Commercial Bank.

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

In 2015, Arif Habib acquired 28.23 percent stake in the bank.

References

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.
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.
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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House building	House Building Finance Company
Savings Bank	National Savings Organization
Foreign banks	Citibank Pakistan Deutsche Bank Pakistan ICBC Pakistan BOC Pakistan Bank of Tokyo Mitsubishi Pakistan
Defunct banks	BCCI Bank of Bahawalpur Burj Bank Federal Bank for Cooperatives KASB Bank NIB Bank PICIC Commercial Bank RBS Pakistan Silkbank Union Bank
See also	List of banks in Pakistan Pakistani bankers Institute of Bankers Pakistan KIBOR National Institute of Banking and Finance
Category

• Defunct banks of Pakistan
• 1995 initial public offerings
• 2001 mergers and acquisitions
• 2008 mergers and acquisitions
• Companies listed on the Pakistan Stock Exchange
• Banks established in 1994
• Pakistani companies established in 1994