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Silkbank Limited

[REDACTED]
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. −8.283 billion (US$−29 million) (2023)
Operating income	Rs. −20.655 billion (US$−72 million) (2023)
Net income	Rs. −12.786 billion (US$−44 million) (2023)
Total assets	Rs. 292.070 billion (US$1.0 billion) (2023)
Total equity	Rs. −26.352 billion (US$−91 million) (2023)
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 2023

Silkbank Limited 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 Corporation acquired 28.23 percent stake in the bank.

References

1. "Silkbank Annual Report 2023" (PDF). Retrieved 10 January 2025.
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.

v t e Banking in Pakistan
Central bank	State Bank of Pakistan
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Commercial banking	Public sector Bank of AJK Bank of Khyber Bank of Punjab First Women Bank Industrial Development Bank Karakoram Cooperative Bank Punjab Provincial Cooperative Bank Limited Sindh Bank Zarai Taraqiati Bank Limited Private sector Allied Bank Askari Bank Bank AL Habib Bank Alfalah HabibMetro JS Bank Soneri Bank Standard Chartered Pakistan
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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 formerly listed on the Pakistan Stock Exchange
• Banks established in 1994
• Pakistani companies established in 1994