October 2007, Arif Habib Securities Limited under the Scheme of Amalgamation set by the State Bank of Pakistan acquired the Pakistan Operations of Rupali Bank Limited; hence forming Arif Habib Bank. In 31st March 2010, Suroor Investments Ltd, a Mauritius based investment firm, acquired 59.41% stake in Arif Habib Bank Ltd from Arif Habib Securities Ltd, and on the 18th of August 2010, Arif Habib Bank Ltd was rebranded as Summit Bank Ltd.
Summit Banks parent company, Suroor Investments Ltd, later acquired majority shares of MyBank Ltd and Atlas Bank Ltd in Pakistan. The operations of the later mentioned banks were then merged under the single umbrella of Summit Bank Ltd, thus expanding the Bank’s network to more than 193 Branches.
Our Motto “Committed to you” underscores the commitment the bank aims to fulfill to its customers.
Conversion to Islamic Banking
Aspiring to become the bank of preferred choice, Summit Bank has decided to convert itself into a full fledge Islamic Bank. We are guided by an eminent board of Shariah scholars and practitioners with extensive experience in the field and Alhamdolillah our 48 branches distributed in 23 cities, are now offering Islamic banking opportunities with an extensive range of Products & Services.