Board of directors meeting of Silkbank Limited

Karachi, Silkbank Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on December 20, 2016 at Karachi. The agenda of the meeting will to consider the budget and strategy 2017 of Bank along with allotment of right shares to the prospective shareholders. Further, the bank Has declared the closed period from December 14, 2016 to December 20, 2016 (both days inclusive) Silk Bank Limited was incorporated in Pakistan on April 4, 1994 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The bank commenced its commercial operations on May 7, 1995. The bank is engaged in the banking services as described in the Banking Companies Ordinance, 1962. The bank operates through 88 branches including 10 Islamic Banking branches in Pakistan. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the bank is located at Karachi. The major share holding of the bank i.e. 82.406% in the bank as on September 30, 2013 is held by a consortium comprising of International Finance Corporation, Nomura European Investment Limited, Bank Muscat S.A.O.G. and executives of the Sinthos Capital Advisors Limited. The symbol “SILK” is being used by the stock exchanges for the shares of Silk Bank Limited.