Karachi: Shareholders of United Bank Limited (UBL) have endorsed major investment plans in an extraordinary general meeting, marking a pivotal move for the bank's strategic expansion. The meeting, held on August 24, 2026, resulted in the approval of both ordinary and special resolutions, according to a report dated August 25, 2026.

The ordinary resolution confirmed the minutes of the 67th Annual General Meeting held on March 26, 2026. This procedural confirmation set the stage for more significant decisions to be addressed during the extraordinary session.

Significantly, the shareholders passed special resolutions enabling UBL to inject up to PKR 22 billion into Khushhali Microfinance Bank Limited (KMBL). This move is anticipated to increase UBL's aggregate shareholding in KMBL substantially. The investment will occur through the subscription of new ordinary shares offered by KMBL at a discounted price, as well as acquiring all unsubscribed shares in UBL's capacity as an underwriter.

According to information available from the Pakistan Stock Exchange (PSX), the resolutions were passed with a requisite majority of not less than three-fourth of the voting shareholders. This demonstrates a robust backing from UBL's shareholders for the bank's investment strategy.

The designated market category for this development remains focused on the financial and banking sectors, reflecting UBL's strategic intent to strengthen its foothold in microfinance through KMBL. The resolutions further authorize UBL’s key executives to execute necessary actions and agreements to facilitate this investment.

With these resolutions, UBL positions itself for potential growth in the microfinance segment, potentially reshaping its investment and growth trajectory in the coming years.