Atlas Bank and Silkbank Limited mutually decide not to go ahead with proposed merger

Earlier this year, the sponsor shareholders of Atlas Bank Limited and the majority shareholders of Silkbank Limited (formerly Saudi Pak Commercial Bank Ltd.) had entered in to a Memorandum of Understanding to consider a merger of Atlas Bank Limited with and into Silkbank Limited. As with many merger discussions, the parties have now considered the proposed transaction and have mutually decided that this may not achieve the long term plans and development strategy of both institutions. Accordingly, both parties have decided to not proceed any further with the proposed merger.

Atlas Bank however, remains strong, enjoying continued support and backing by the trusted equity of Atlas Group and Deutsche Investitions of Germany (DEG), one of the leading European financial institutions. Atlas Bank will continue to remain dedicated and focused to meeting the customers banking needs and has the ability, stability and capability to meet the challenges of today and the opportunities of tomorrow.

Mobilink and Atlas Bank Launch Mobile Commerce 

Atlas Bank Limited, in collaboration with Mobilink GSM, recently launched Pakistan’s first mobile commerce initiative, named Mobilink Genie, a next generation mobile lifestyle service that transforms your mobile into a fast, convenient and secure channel for performing a variety of different functions.

Using Genie, you will be able to:

§         Pay electric bills                                     -     KESC, LESCO, GEPCO

§         Pay gas bills                                           -     SSGC, SNGPL

§         Pay landline phone bills                       -     PTCL

§         Get insurance products                          -     Adamjee

§         Pay post-paid mobile phone bills            -     Mobilink

§         Top-up pre-paid mobile connections   -     Mobilink

For further information on how to subscribe to this service please call our toll-free 24x7 Contact Center
at 0800-24-365 for more information.

Atlas Bank Launches Utility Bill Payment Service

Atlas Bank launches a Utility Bills Payment Service, a simple method of using your Atlas Bank ATM card and an Atlas Bank ATM machine to pay off all those pending bills. You can pay bills of the following companies:

1. Karachi Electric Supply Corporation (KESC)
2. Lahore Electric Supply Company (LESCO)
3. Sui Southern Gas Company (SSGC)
4. Sui Northern Gas Pipelines (SNGPL)
5. UFONE Postpay

In addition to these, customers using pre-paid connections of UFONE can also load balance to their numbers.

The process is very simple:
• Head over to an ABK ATM, insert your ABK card and enter your PIN;
• Select Bills Payments Option, Company type and Company name. Further select pre-paid or post-paid for telecommunication companies;
• Enter or Select your desired consumer number;
• Confirm / Enter amount;
• Get confirmation receipt

By availing this service, you can save a lot of your precious time. And there are no time restrictions; we are there for you Round The Clock.

The service is currently offered to our customers free of charge.

3rd Party Funds Transfer Service

Now, with the click of a button, you can transfer funds from your Atlas Bank account to another Atlas Bank account located anywhere in Pakistan.

The process is simple:
• Head over to an ABK ATM, insert your ABK card and enter your PIN;
• Select Funds Transfer Option and select Open Transfers;
• In case of multiple accounts, select From Account and then enter To Account number; in case of single account, simply enter To Account number;
• To Account details are fetched; upon confirmation, enter the amount to transfer;
• All transaction details are displayed for confirmation; upon pressing enter, transaction gets processed.
• Get confirmation receipt.

A maximum of Rs. 250,000 can be transferred in one particular day.
The service is currently offered to our customers free of charge!
 

Atlas Bank Limited

Envisioned to operate as a progressive and dynamic banking entity, Atlas Bank today stands as a firm reality with a futuristic approach to help manage personal and commercial finances with ease and convenience.

Poised to offer an extensive range of commercial banking services, lucrative assets and liability products, Atlas Bank will be catering to satisfy and exceed the needs of its valuable customers. With a devoted and professional team endeavoring to top off the satisfaction of the customers, Atlas Bank will provide leasing, financing and trade finance along with export re-finance and wealth management services. In addition, brokerage and corporate advisory services will also be offered through its wholly owned subsidiary. The wide range of asset and liability products being designed will not only suit the needs of customers but will also make financial management convenient for them through innovative deposit schemes that will provide most favorable profit and security with monthly, quarterly, semi-annual and term income options or alternatively nest eggs for long term planning. It will provide solutions for multiple requirements of clients of diverse financial nature on both institutional and individual levels through its array of funded and non-funded products and services.

Atlas Bank, having a futuristic approach, is positioned to improvise with the changing trends of the modern day financial market. Operating through a growing network of branches across Pakistan, the entire retail network is real-time online, providing banking convenience, especially for those on the move. Enjoying the privilege of having diverse groups as its valued customers, Atlas Bank serves through its strong network of branches, backed by advanced computerized and control system, positioning its priorities in accordance with the needs, convenience and satisfaction of its customers and stakeholders.

'With equity of over Rs.3.41 billion and assets base of over Rs.30.40 billion, Atlas Bank is determined to expand within and contribute aggressively to the growing economy of Pakistan and its flourishing banking sector. To stand out in the market through competitive positioning as its prime objective, Atlas Bank will always be committed to deliver consistent quality services and customer satisfaction

History

Atlas Bank Limited is supported by the trusted equity of Atlas Group, a leading manufacturing, financial services and trading group that has been at the forefront of country’s economic development since 1962. With a long-term credit rating of A- and a short-term credit rating of A2 by PACRA, Atlas Bank began its journey back in the year 1990 when Atlas Group and the Bank of Tokyo-Mitsubishi Limited entered a joint venture as Atlas Investment Bank Limited. Later in 2002, the Bank established a merger with Atlas Lease Limited and acquired Dawood Bank Limited in December 2005 and renamed it as Atlas Bank Limited and merged Atlas Investment Bank in to Atlas Bank in 2006. Atlas Capital Markets (Private) Limited was also incorporated in 2006 and is currently a wholly owned subsidiary of the bank.

Agreement with DEG

In August 2007 Atlas Bank signed an agreement with DEG - Deutsche Investitions of Germany, a leading international financial institution. The agreement will enable DEG to become a minority shareholder with a 24.9 per cent stake and a seat on the bank’s Board. For DEG, this is the first equity investment in a commercial bank in Pakistan. This financing, will enable Atlas Bank to expand its financing business for small and medium-sized enterprises and consumers. Moreover, DEG, with a pool of technical know-how will support Atlas Bank in its further expansion and development. This partnership also assures Atlas Bank’s compliance with the regulatory capital requirements in 2007-9.