The year 2007 saw Arif Habib Securities acquiring Rupali Bank Limited per the scheme of State Bank of Pakistan. In 2010, a firm from Mauritius took up 59.41% shares of the bank. Very soon after that, the Habib group rebranded itself to become Summit Bank Ltd. All the operations of the bank were brought under this name and it expanded to bring about 190 branches in Pakistan.
The bank has started Islamic Banking services to become fully shariah-compliant. For this, the bank has been continuously looked after top Islamic banking scholars. Summit Bank operates with 30 branches as of now.