Company Background

Saudi Pak Leasing Company Limited (formerly Standard Chartered Merchantile Leasing Company Limited) was incorporated in January 1991. In October 1997, Saudi Pak Industrial & Agricultural Investment Company(SAPICO) acquired the entire 30% shareholding of Standard Chartered Bank. SAPICO is the second largest of the three investment companies set up by the Government of Pakistan as joint venture with other sovereigns. The Saudi Arabian government holds 50% equity stake in SAPICO with the other 50% held by Pakistan. The Company has a seven member board of which three, including the CEO, represent SAPICO, two, the Piracha Group, and one each, the Premier Merchantile Services and NIT. SPLC is the fifth largest leasing company in Pakistan in terms of asset size. SPLC has offices in three cities with its head office based in Karachi. The company is listed on all the three stock exchanges in Pakistan.