Islamabad May 23 2025: United Bank Limited, has obtained “No objection” certificate from State Bank of Pakistan for subdivision of bank’s share capital.
On May 16, 2025, the shareholders of United Bank Limited (“Bank”) had approved the subdivision of the Bank’s existing share capital, comprising authorized, issued, and paid-up capital, such that each one (01) ordinary share of face value of PKR 10/- would be subdivided into two (02) ordinary shares of face value of PKR 5/- each.
This subdivision does not alter any rights, privileges, or entitlements attached to the shares. The implementation of the shareholders’ resolution was subject to obtaining the State Bank of Pakistan’s (“SBP”) approval / No Objection for the necessary amendments in the Bank’s Memorandum and Articles of Association.
“We are pleased to inform you that the SBP, vide its letter dated 21 May 2025, has conveyed its “No Objection” to the proposed amendments in the Memorandum and Articles of Association of UBL reflecting the approved subdivision of the share capital of the Bank” states the bank.
The Bank will continue to keep the Exchange informed of any material developments on this matter, it added.
