It was in the news, in the stock market, for quite some time that Silk Bank was to sell off a major chunk of its shares i.e. 75% to Gourmet Group. Not only that, State Bank of Pakistan agreed to this decision as well. Recently, when the details related to this matter were inquired from the higher managerial level professionals of Gourmet Group and Silk Bank, and they denied the entire news. At another point, it was also shared that the possible reason behind the speculation of such false statement was to create the excitement about Silk Bank in the stock market for investors to order intra-day profits.
State Bank of Pakistan’s Take On Silk Bank‘s News
Plus, officials from the State Bank of Pakistan also rejected the sharing of such news which discussed any acquisition. Such kind of news which is speculated in the financial market can affect the business; it is always beneficial to cross-check the news and then share in the surroundings, after gaining trust on the authenticity of the news.
Although, the fact is, previous year Silk Bank received a boost of funds when Gourmet Group purchased 12.05% of the bank. Later, Silk Bank grew up its clientele by launching new products.