Material Information of Silk Bank Limited

Karachi, Silk Bank Limited informed Pakistan Stock Exchange that Due to the delay in the closure of the valuation process and its resultant impact on the financial statements of the Bank, the Bank has requested the SBP that the approval and disclosure of third Quarter of 2019 financials of the Bank, be allowed to be extended till March 31, 2020. Consequently the approval and disclosure of Annual Accounts of 2019, be also allowed to be extended till April 30, 2020.

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.