Bank Alfalah to explore possibility of acquiring Silkbank’s Consumer Finance Portfolio

MG News | April 26, 2021 at 11:21 AM GMT+05:00

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April 26, 2021 (MLN): The Board of Directors of Bank Alfalah Limited ("the Bank"), in its meeting held on 22nd April 2021, has authorized the Management of the Bank to explore the possibility of acquiring the Consumer Finance Portfolio of Silkbank Limited comprising of credit cards, running finance and personal loans and to conduct due diligence of the same, subject to State Bank of Pakistan's approval.

In this regard, the Bank has approached Silkbank to provide its concurrence to enable the Bank to apply to SBP for its approval to conduct due diligence on the Silkbank Consumer Finance Portfolio.

Earlier, Habib Bank Limited (HBL) had requested Silkbank Limited to provide its concurrence to HBL to apply to State Bank of Pakistan to proceed with the due diligence of the Consumer Portfolio of Silkbank Limited.

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