Silkbank signs accord with Arif Habib

KARACHI: Silkbank has entered into an underwriting arrangement with Arif Habib Limited as part of its capital raising initiative through the recently announced Rs 10 billion rights issue, a statement said on Tuesday.
This will provide substantial capital adequacy to Silkbank for it to pursue its long term growth objectives besides ensuring regulatory compliance, it said.
With the conclusion of this arrangement the aforementioned rights issue is expected to be completed in the next 45 days. All relevant regulatory approvals in this regard have already been obtained by the bank, it added.