Summit Bank Ltd.

Summit Bank Ltd.

Summit Bank Ltd.

Overview
Date Founded

2005

Headquarters

Arif Habib Centre,23 M. T Khan Road,Karachi, Sindh 74000

Type of Company

Public

Employees (Worldwide)

1,943

Industries

Holding Companies
Retail & Commercial Banking

Company Description

Summit Bank Ltd. operates as a holding company with interest in providing banking services. It operates through the following business segments: Corporate Finance, Trading and Sales, Retail Banking, Commercial Banking, and Payment and Settlement. The Corporate Finance segment provides underwriting, securitization, investment banking, syndications, IPO related activities and secondary private placements services. The Trading and Sales segment undertakes treasury, money market and capital market activities. The Retail Banking segment provides services to small borrowers i.e. consumers, small and medium enterprises and to the agricultural sector. The Commercial Banking segment provides loans, deposits, and other transactions to corporate customers. It offers customers a diverse range of electronic services and convenient banking options through various channels, such as ATMs, mobile phones and Internet. The Payment and Settlement segment offers payments and collections, funds transfer, clearing and settlement services. The company was founded on December 9, 2005 and is headquartered in Karachi, Pakistan.

Executives & Employees

Chief Compliance Officer

Group Head, Enterprise Risk Management & Strategic Planning

Group Head-Enterprise Risk Management

Head of Islamic Banking

Group Head-Corporate & Investment Banking

Head of SME & Commercial Banking

Group Head Islamic Banking

Head of Country Operations

Head of Legal

Group Head Human Resource

Board of Directors

Chairman at Summit Bank Ltd.

Chief Compliance Officer at Summit Bank Ltd.

Director at Summit Bank Ltd.

Director at Summit Bank Ltd.

Director at Summit Bank Ltd.

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Recent Transactions
Details Hidden

Ittefaq Iron Industries Ltd. issued PKR Ordinary Shares

Details Hidden

Sindh Modaraba issued PKR Ordinary Shares

Details Hidden

Summit Bank Ltd. purchases Mybank Ltd.

Transaction Clients
Underwriter

Advised on Ittefaq Iron Industries Ltd. issued PKR Ordinary Shares

Underwriter

Advised on Sindh Modaraba issued PKR Ordinary Shares

Transaction Advisors
Legal Advisor

Advised onIttefaq Iron Industries Ltd. issued PKR Ordinary Shares

Clients

Jubilee Life Insurance Co. Ltd. engages in the provision of life insurance, carrying on non-participating business. The company operates in the following segments: Individual Life Unit Linked, Conventional Business, Accident & Health, Overseas Group Life & Health, Individual Family Takaful, Group Family Takaful, and Accident & Health Family Takaful. The Individual Life Unit Linked segment provides life insurance coverage to individuals under unit based policies issued by the company. The Conventional Business segment includes individual life conventional and group life. The Accident & Health Business segment offers personal accident coverage to individuals and inpatient and outpatient health coverage to member enterprises, corporate entities, and common interest groups under group health insurance schemes. The Overseas Group Life and Health segment comprises of s life insurance coverage and inpatient and outpatient health coverage to overseas corporate entities under overseas group life and health policies. The Individual Family Takaful segment offers unit linked takaful plans, which provide shariah compliant financial protection and investment vehicle to individual participants. The Group Family Takaful segment contracts are issued typically on yearly renewable term basis. The Accident & Health Family Takaful segment contracts are mainly issued to employers to insure their commitments to employees. The company was founded on June 29, 1995 and is headquartered in Karachi, Pakistan.

IGI Life Insurance Ltd. engages in the provision of life insurance services. It operates through following segments: Life (participating), Life (non-participating), Life (non-participating) Group, Investment Linked, Accident and Health-Individual, Accident and Health-Group and Pension Fund. The Life (participating) segment offers life insurance coverage to individuals under individual life policies that are entitled to share in the surplus earnings of the statutory fund to which they are referable. The Life (non-participating) segment comprises life insurance coverage to individuals under individual life policies that are not entitled to share in the surplus earnings of the statutory fund to which they are referable. The Life (non-participating) Group segment includes life insurance coverage to employer-employee groups of employees and members under a single life policy issued to the employer. The Investment Linked business segment consists of life insurance coverage to individuals, whereby the benefits are expressed in terms of units, the value of which is related to the market value of specified assets. The Accident and Health-Individual segment provides fixed pecuniary benefits or benefits in the nature of indemnity or a combination of both in case of accident or sickness to individuals. The Accident and Health-Group segment refers to fixed pecuniary benefits or benefits in the nature of indemnity or a combination of both in case of accident or sickness to employer-employee groups of employees and members under a single policy issued to the employer. The Pension Fund segment focuses on the coverage for the purposes of a pension or a retirement scheme with or without the payments being guaranteed for a minimum period. The company was founded in 1952 and is headquartered in Karachi, Pakistan.

Key Stats and Financials As of 2018
Market Capitalization
$19.8M
Total Enterprise Value
$197M
Earnings Per Share
$-0.03
Total Equity
$24.7M
Total Debt
$227M
Net Profit
$-79.7M
Revenue
$96.6M
Three Year Compounded Annual Growth Rate Of Revenue
-11.01%
Debt TEV
1.15x
TEVNet Income
-2.48x
Enterprise Value / Sales
2.04x
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