Press Release

Update on Ratings of Silk Bank Limited

Karachi, February 16, 2023: VIS Credit Rating Company Limited notes that Securities and Exchange Commission of Pakistan has further granted extension to Silk Bank Limited for convening its Annual General Meeting (AGM) and to present the latest audited financial statements till March 31, 2023.

The last entity ratings of Silk Bank Limited of ‘A-/A-2’ (Single A Minus/A-Two) with ‘Rating Watch-Negative’ Status was announced on October 12, 2020, based on financial statements of Silk Bank Limited as of June 30, 2020. Upon any further development or receipt of up to date financial statements, VIS will review the rating.

For further information on this rating announcement, please contact the undersigned (Ext: 306) at (021) 35311861-66 or email at

Faryal Ahmad Faheem
Deputy CEO

Applicable Rating Criteria: Commercial Banks Methodology (June 2020)

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