Karachi April 28 2023: United Bank Limited (UBL) is exploring a potential merger with Silkbank Limited and intends to seek State Bank of Pakistan permission, according to bank filing to the exchange.
The potential merger will remain subject to due diligence, internal and regulatory approvals and definitive documents.
United Bank Limited is a banking company incorporated in Pakistan and is engaged in commercial banking and related services. The Bank is a subsidiary of Bestway (Holdings) Limited which is a wholly owned subsidiary of Bestway Group Limited.
Silk Bank Limited was incorporated in Pakistan on April 04, 1994 as a Public Limited Company under the Companies Act 2017 (Previously Companies Ordinance 1984). The Bank commenced commercial operations on May 07, 1995. The bank is engaged in banking services as described in Banking Ordinance, 1962.
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