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Silk Bank

On September 15, 2001, under the supervision of the State Bank of Pakistan (SBP), the institution then known as the Prudential Bank was acquired by the management and associates of the Saudi Pak Industrial and Agricultural Investment Company (Pvt) Ltd (SAPICO).

On March 31, 2008, a Consortium comprising of IFC, Bank Muscat, Nomura International and Sinthos Capital led by senior bankers Mr. Shaukat Tarin and Mr. Sadeq Sayeed acquired 86.55% stake in Silkbank for around $213 million or $0.47 per share (PKR 29.3 equivalent per share). Under the new leadership, the Bank will continue to focus on SME & Consumer financing resulting in efforts of increased profitability.