Silkbank Limited, () formerly known as Saudi-Pak Commercial Bank, is a Pakistani

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

which is based in

Karachi Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former cap ...

, Pakistan. It has a branch network of 111 in 29 cities.

History

Prudential Commercial Bank Limited

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

Saudi-Pak Commercial Bank

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

Silkbank Limited

In March 2008, a consortium comprising

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of t ...

Bank of Muscat Bank Muscat is a financial services provider in the Sultanate of Oman providing corporate banking, retail banking, investment banking, treasury, private banking and asset management. The bank, with assets worth US$ 31.9 billion in 2018, has t ...

, Nomura and Sinthos Capital led by Pakistani banker

Shaukat Tarin Shaukat Fayyaz Ahmed Tarin ( ur, ; born 1 January 1953) is a Pakistani politician and banker who served as Finance Minister of Pakistan from 2008 to 2010 in the Gillani cabinet also and worked with the help of the Pakistan People’s Party's ...

acquired a majority stake in Saudi Pak bank for $213 million. In June 2008, the bank changed its name to Silk Bank Limited.

Major Shareholding

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

Bank Motto

Yes We Can !!!

Awards

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

References

Companies based in Karachi Banks of Pakistan Companies listed on the Pakistan Stock Exchange Banks established in 1994 Pakistani companies established in 1994 Pakistani subsidiaries of foreign companies {{Pakistan-company-stub