Silkbank has initiated negotiations for a deal with Habib Bank Ltd (HBL), the country’s largest commercial bank, to sell its consumer portfolio. — Photo courtesy: HBL website
LAHORE: Silkbank has initiated negotiations for a deal with Habib Bank Ltd (HBL), the country’s largest commercial bank, to sell its consumer portfolio, disclosed a notice sent to the Pakistan Stock Exchange (PSX) on Thursday.
HBL has approached Silkbank with a request for its concurrence to it for applying to the State Bank of Pakistan for permission to proceed with due diligence of its consumer portfolio — credit cards, personal installment loans and running finance, the exchange was informed by the company secretary through the notice.