Alibaba's team hopes to replicate success of MyBank in Pakistan with Silkbank

KARACHI: The members of team of China’s e-commerce giant Alibaba and Ant Financial (sister concern of Alibaba) visited Silkbank Limited head office Karachi on Tuesday.Alibaba and Ant Financial team was led by Haider Aly-Reza, who covers South Asia e-commerce and e-wallet business for Alibaba Group and Ant Financial business.In his comments on LinkedIn, following the visit, Haider Aly-Reza says ‘Let’s hope we can replicate the success of MyBank in Pakistan with Silk.”The SilkBank Limited has over 200 branches in Pakistan.In March 2019, the Board of Directors of Silkbank Limited had declared an operating profit of Rs3.146 billion, with a profit after tax of Rs1.330 billion for the year ended December 31, 2018, reflecting a growth of 17 percent.Silkbank maintains an upward trajectory in its growth and profitability and the board was optimistic that Silkbank would maintain a strong growth momentum going forward.

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