Karachi: United Bank Limited (UBL) has successfully completed the sale of its shareholding in United National Bank Limited (UNBL), UK, as confirmed today.

The transaction, finalized on July 5, 2024, followed all necessary regulatory approvals as required under Section 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the PSX Rule Book. This sale was approved by UBL’s shareholders during the 65th Annual General Meeting held on March 18, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the detailed disclosure of this transaction has been documented and is enclosed as Annexure “A”. This documentation ensures compliance with the regulatory framework, including SRO 143/ (1)/2012 dated December 5, 2012, read alongside pertinent sections of the Securities Act.

The completion of this sale marks a significant development in UBL’s strategic realignment of its international operations. Certificate Holders of the Exchange have been duly informed of this transaction.