Silkbank Ltd (SILK)

Silkbank Limited provides retail, corporate, and Islamic banking products and services in Pakistan. It accepts deposit products, such as current accounts, foreign currency accounts, savings accounts, and term deposits; and offers loan products, including consumer and SME loans. The company also provides corporate banking services, including working capital finance, pre and post shipment export financing, import financing, and receivable discounting, as well as trade services comprising letters of credit, letters of guarantee, standby letters of credit, etc. In addition, it offers investment banking services, such as long term and short-term debt advisory services; the placement of debt/equity issues to bank and non-bank participants; and other advisory services consisting of debt syndications, private equity, transactions, mergers and acquisitions, restructurings, and buy/sell-side advisory. Further, the company provides treasury services, including fixed income trading, forex market, and money market services; cash management services, such as payments, collections, and accounts services; and customized services to middle market customers. Additionally, it offers various insurance products; debit and credit cards; utility bills payment and remittance services; and Internet, phone, and mobile banking services. The company was formerly known as Saudi Pak Commercial Bank Limited and changed its name to Silk bank Limited in June 2009. Silkbank Limited was incorporated in 1994 and is headquartered in Karachi, Pakistan.