Bank Alfalah (BAFL) has joined the race for the acquisition of SBL’s personal loans, running finance and credit card business on Monday. Screengrab
LAHORE: Silkbank Ltd’s consumer finance portfolio appears to be attracting a lot of interest from other banks these days with Bank Alfalah (BAFL) joining the race for the acquisition of SBL’s personal loans, running finance and credit card business on Monday.
Habib Bank Ltd (HBL) is already carrying out due diligence of SBL’s consumer portfolio for almost two weeks now.
Two separate bourse filings say BAFL has approached the Silkbank management for its concurrence to apply for permission from the State Bank of Pakistan to start due diligence.
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.
Fauji Foundation keen to buy Silkbank
Bank has opened doors for conglomerate to evaluate its possible price
Fauji Foundation, a leading group of companies in Pakistan, has expressed interest in buying Silkbank in a bid to expand its footprint in the diversified business as the bank has opened doors for the conglomerate to evaluate its possible price. We would like to inform … Fauji Foundation has expressed interest in acquiring a majority stake in Silkbank Limited, Silkbank Company Secretary Faizul Hasan Hashmi said in a notice sent to the Pakistan Stock Exchange (PSX) on Thursday.
As part of the process, Silkbank has been requested to allow Fauji Foundation to conduct due diligence of the bank and in this regard Fauji Foundation intends to apply to the State Bank of Pakistan (SBP) for requisite approval of the same.