Report Company
Crescent Commercial Bank Ltd
Crescent Commercial Bank Limited ("CCBL" or "CresBank") is a scheduled commercial bank, licensed by the State Bank of Pakistan ("SBP") under Section 27 of the Banking Companies Ordinance 1962.
On March 30, 2007 Samba Financial Group ("Samba") acquired 68.4% of CresBank by subscribing to six hundred million new ordinary shares for a consideration of PKR 6.0 billion. CresBank's Board has been reconstituted to appropriately reflect the change in the bank's ownership. CCBL's new Board of Directors bring immense banking and business judgment, strong knowledge of the global banking industry, and a deep understanding of the opportunities and challenges faced by the bank. The expertise and vision provided by the new Board will help guide the bank towards long term sustainable growth that will deliver superior returns for stakeholders and benefit the institution and country as a whole. Following this investment by Samba, CresBank has emerged as one of the highest capitalized banks in the country with a paid-up capital of PKR 8.769 billion.
Samba is Saudi Arabia's premier financial institution with a market capitalization of approximately US$ 23.3 billion and shareholder's equity of US$ 4.1 billion. Samba enjoys one of the highest credit ratings by S&P, Fitch, and by Capital Intelligence. The Saudi banking group offers varied banking and investment services with a commitment to providing innovative financial solutions of the highest quality and delivering superior returns to its investors. CresBank will benefit immensely from the balance sheet strength and strong profile that Samba provides.
On March 30, 2007 Samba Financial Group ("Samba") acquired 68.4% of CresBank by subscribing to six hundred million new ordinary shares for a consideration of PKR 6.0 billion. CresBank's Board has been reconstituted to appropriately reflect the change in the bank's ownership. CCBL's new Board of Directors bring immense banking and business judgment, strong knowledge of the global banking industry, and a deep understanding of the opportunities and challenges faced by the bank. The expertise and vision provided by the new Board will help guide the bank towards long term sustainable growth that will deliver superior returns for stakeholders and benefit the institution and country as a whole. Following this investment by Samba, CresBank has emerged as one of the highest capitalized banks in the country with a paid-up capital of PKR 8.769 billion.
Samba is Saudi Arabia's premier financial institution with a market capitalization of approximately US$ 23.3 billion and shareholder's equity of US$ 4.1 billion. Samba enjoys one of the highest credit ratings by S&P, Fitch, and by Capital Intelligence. The Saudi banking group offers varied banking and investment services with a commitment to providing innovative financial solutions of the highest quality and delivering superior returns to its investors. CresBank will benefit immensely from the balance sheet strength and strong profile that Samba provides.