HBL Eyes Silkbank After Fauji Foundation Drops Interest
Karachi: The owner of Askari Bank, Fauji Foundation, sought to acquire Silkbank. Silkbank reports that Fauji Foundation is no longer cooperating with Silkbank’s due diligence in a notice to the PSX.
Habib Bank Ltd (HBL), a potential new buyer, has asked Silkbank Limited to submit an application to the State Bank of Pakistan in order to move on with the due diligence of the bank’s Consumer Portfolio, which consists of credit cards, running finance, and personal installment loans.
This was approved on April 7, 2021 by the Silkbank Ltd Board of Directors.
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