We would like to inform you that M/s. Pakistan Housing Finance Company (PHFC), a subsidiary of M/s. Lake City Limited has expressed its in-principle interest in the injection of equity upto PKR 12,000,000,000/- (Pak Rupees Twelve Billion) into Silkbank Limited. ("Proposed Investment")
PHFC is leading a consortium of like-minded investor group, supported and backed by the well- renowned and experienced management of M/s. Burj Capital, having requisite experience in setting up and successfully managing Islamic and conventional banks in Pakistan.
PHFC has also informed the Bank that in recognition of their standing in the business community and their intent of giving the management role to banking professionals of standing, M/s. Arif Habib Group is also willing to participate in a consortium as a minority stakeholder.
In this regard, the Board of Directors of the Bank has granted its "In-principleapproval" for allowing PHFC to conduct the required due diligence of the Bank, subject to SBP approval.
Silkbank Limited
Central Office:
Ground Floor, No. 13, COM-3 Mall,
Block-6, KDA Scheme # 5
Clifton 75600, Karachi-Pakistan
PABX: 021-111-00-7455
Website: wwww.silkbank.com.pk
"Say No to Corruption"
The Proposed Investment shall be subject to the approval of the Board, shareholders, Securities and Exchange Commission of Pakistan, and State Bank of Pakistan and appropriate disclosures will be made in accordance with applicable laws, as the matter progresses.
You may please inform the TRE Certificate Holders of the Exchange accordingly.
Yours truly,
Faiz Ul Hasan Hashmi
Company Secretary
Copy to:
Company Registration Office, Securities & Exchange Commission of Pakistan, NIC Building, 63, Jinnah Avenue, Blue Area, Islamabad.
The Executive Director, Public Offering & Regulated Persons Department, Securities Market Division, Securities & Exchange Commission of Pakistan, NIC Building, 63, Jinnah Avenue, Blue Area, Islamabad.
The Director, Banking Policy and Regulation Group, and Banking Supervision Group of State Bank of Pakistan, I.I. Chundrigar Road, Karachi.
Silkbank Limited
Central Office:
Ground Floor, No. 13, COM-3 Mall,
Block-6, KDA Scheme # 5
Clifton 75600, Karachi-Pakistan
PABX: 021-111-00-7455
Website: wwww.silkbank.com.pk
"Say No to Corruption"
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Silkbank Ltd. published this content on 19 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2023 04:19:07 UTC.
Silkbank Limited (the Bank) is a Pakistan-based bank, which is engaged in providing banking services. The Bank's segments include Wholesale Banking, Treasury, and Consumer/SME Banking. The Wholesale Banking segment offers deposits, trade and other lending activities for corporates and financial institutions. The Treasury segment undertakes the Bank's treasury, money market, and capital market activities. The treasury manages the asset and liability mix of the Bank and provides customers with a range of products that meet their demand for management, of liquidity, cashflow, interest rate fluctuations and foreign exchange risks. The Consumer/SME Banking segment provides wealth management, deposits, mortgages, auto finance, unsecured lending, and small and medium-sized enterprises (SME) lending, including SME trade. The Bank also offers Internet banking. It provides working capital finance, pre and post shipment export financing, import financing, and receivable discounting.
SILKBANK LIMITED 
