Silk Bank Limited said on Thursday that Habib Bank Limited (HBL) has shown interest to acquire its consumer portfolio. According to a notification issued to Pakistan Stock Exchange (PSX) by Silk Bank Limited, HBL has requested Silk Bank Limited to provide its concurrence to HBL to apply to State Bank of Pakistan (SBP) to proceed with the due diligence of the consumer portfolio of Silk Bank Limited comprising credit cards, running finance and personal instalment loans in order to explore the possibility of HBL’s potential interest in the same.
The Board of Directors of the Silk Bank Limited, in its meeting held on April 07, 2021, accorded in principle approval, for the same, said the company. The Silk Bank further said that M/s Fauji Foundation will not be proceeding with the due diligence process of Silk Bank Limited, in pursuance of its application in this regard.
