Silk Bank Limited has been a notable name in Pakistan’s banking industry, especially known for its focus on consumer banking, credit cards, and SME (Small & Medium Enterprises) financing.
With its tagline “Yes We Can,” Silk Bank built a reputation for innovation, service quality, and accessible banking solutions across the country.
In 2025, Silk Bank entered a new era after its official merger with United Bank Limited (UBL)—a move that marks a significant transformation in Pakistan’s financial landscape.
🏦 History of Silk Bank
Silk Bank began its operations in Pakistan in 2001 as Saudi Pak Commercial Bank. In 2008, it was rebranded as Silk Bank Limited after acquisition by a consortium of international and local investors, including the International Finance Corporation (IFC, a member of the World Bank Group).
Over the years, Silk Bank focused on becoming a leader in retail banking with strong product lines including:
- Personal loans
- Credit cards
- Term deposits
- Islamic banking
- SME & corporate banking solutions
💼 Services Offered by Silk Bank
Silk Bank offered a wide range of financial services for both individuals and businesses:
Personal Banking
- Current & savings accounts
- Credit cards (Platinum, Gold, and Cashback)
- Personal loans
- Digital banking through SilkMobile
Business & SME Banking
- Trade finance
- Working capital loans
- Business accounts
- Merchant payment solutions
Islamic Banking
Silk Islamic offered Shariah-compliant financial services under a dedicated Islamic window with products like:
- Islamic current/savings accounts
- Auto Ijarah (car leasing)
- Diminishing Musharakah for home financing
🔁 Merger with United Bank Limited (UBL) – 2025
In early 2025, Silk Bank officially merged into UBL after receiving regulatory approval from the State Bank of Pakistan (SBP). This merger was part of UBL’s strategy to expand its retail banking portfolio and customer base.
What This Means:
- Silk Bank no longer operates independently.
- All Silk Bank customers, employees, and assets have transitioned under UBL.
- Future services and job opportunities will be offered through UBL’s platforms.
🌐 Official Career Portal
Looking to apply for banking jobs that were previously under Silk Bank?
👉 Apply Now via UBL Careers:
🔗 https://www.ubldigital.com/Careers
📊 Silk Bank’s Legacy in Numbers
Before the merger, Silk Bank had:
- 120+ branches across major cities
- A strong credit card portfolio
- Active customer base in consumer and SME markets
Though no longer operating under its own name, Silk Bank’s legacy continues through UBL, with improved access to digital banking, nationwide services, and international operations.
Final Words
Silk Bank played a key role in Pakistan’s modern banking evolution, especially in digital credit products and personalized banking. Its merger into UBL signifies growth, consolidation, and better service delivery for Pakistani customers. While the name may have changed, the spirit of Silk Bank lives on through expanded services at UBL.