In 2021 Samba Bank decided to put the “For Sale” sign out in the yard. For anyone in Pakistan looking to buy a bank, it was a perfect opportunity. Samba was up for sale not because it was doing badly, but simply because the ownership of Samba’s parent company in Saudi Arabia was changing.
The bank itself was small (the smallest commercial bank in Pakistan in fact), clean, and well-run. Samba was the suburban white picket home of bank shopping. Which is why a number of buyers stepped up to the plate ranging from United Bank (UBL) to Askari Bank and a consortium led by Fatima Fertiliser.
Despite the interest, Samba failed to strike a deal with any of the potential buyers. In fact in May 2022, the bank announced it was terminating the process for the sale due to “unstable market conditions.” It seemed the new owners of Samba’s parent companies were starting to catch up to Pakistan’s smallest commercial bank. Now after just under two years, Bank Alfalah has made a non-binding indicative offer to the bank’s Saudi owners to acquire their entire shareholding in Samba Pakistan. In turn, the Saudis have agreed to evaluate the non-binding offer and invited Bank Alfalah to conduct diligence on Samba Pakistan.
To put it in very simple terms, the sale is back on the table. But what were the circumstances that led to the bank to go on sale, go off the market, and then once again be up for grabs? To understand, we go back to Samba Bank’s origins in Pakistan. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
Karachi Best Packers Movers Home House Office Shifting Services Company, Talal Packers And Movers House Shifting Services Karachi Always Recommend For House Shifting Packing Loading Transport Unloading Unpacking Door To Door Services All Pakistan Talal Packers And Movers House Shifting Services Karachi .
Samba has potential to grow and capture the market, revising it’s 5 years strategic plan.
1. Convert to full fledged islamic bank.
2. Change name opting principle owner company name.
3. Expand branch net work carefully to cover major cities.
4. Select high performing staff from peer banks.
5. Increase current account deposits.
6. Off load high cost deposits and risky credits.
7. Invest in govt. Landings.
HOW I FINALLY RECOVERED MY LOST BITCOIN:
Do you need help on how to recover lost or stolen Bitcoin from fake investment scammers? I lost all my Bitcoin to a fake investment scam to someone I met online. After losing my Bitcoin investments, I was determined to find a solution. I started searching for help legally to recover my funds, and I came across a lot of Testimonies about GEO COORDINATES HACKER. I am incredibly grateful for the exceptional service, and wanted to inform you all about this positive outcome. They emphasized their excellent strategy for Bitcoin recovery. In order to assist people and companies in recovering their lost or stolen cryptocurrencies. They guarantee that misplaced bitcoins have an opportunity to be recovered with their excellent services. If you or anyone you know ever finds yourselves in a similar unfortunate situation, I highly recommend reaching out to GEO COORDINATES HACKER. Contact Info Email:
( [email protected] )
Email; ( [email protected] )Telegram ( @Geocoordinateshacker )Website; https://geovcoordinateshac.wixsite.com/geo-coordinates-hack
Its a big piece of information about the current affairs. Thanks.