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Later in 2010, Arif Habib Bank Ltd. was rebranded under the name of Summit Bank Ltd. [9] Suroor Investments Ltd. acquired the majority shares of Atlas Bank Ltd. and MyBank Ltd. [10] and these banks were later on came under the umbrella of Summit Bank Ltd., [11] increasing the network of the bank to over 193 branches in the country.
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In 1995, the company was acquired by UJB Financial Corporation, who had been doing business as United Jersey Bank. The combined bank continued to do business as Summit Bank after the merger. [3] In 1996, the company acquired B.M.J. Financial Corporation for $164.5 million in stock. [4] In 1997, the company acquired Collective Bancorp. [5] In ...
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On 7 October 2024, Bangladesh Financial Intelligence Unit (BFIU) directed all the banks and financial institutions in Bangladesh to freeze the accounts of Summit Group chairman Muhammed Aziz Khan and 11 members of his family, including his brothers. [75] [76]
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Stephen A. Rhoades, "Bank Mergers and Industrywide Structure, 1980–1994," Washington: Board of Governors of the Federal Reanuary 1996. (Staff study 169) Steven J. Pilloff, "Bank Merger Activity in the United States, 1994–2003," Washington: Board of Governors of the Federal Reserve System, May 2004. (Staff study 176)