Karachi, In a material information disclosure, United Bank Limited (UBL) has expressed interest in a potential merger with Silk Bank Limited. The proposal was reviewed and approved by the Board of Directors of Silk Bank Limited, which has granted its approval to pursue the potential merger.
According to the disclosure, the management of Silk Bank Limited is now authorized to take the necessary steps to pursue the merger, including seeking permission from the State Bank of Pakistan for due diligence and entering into discussions with UBL to finalize the terms and conditions and required documentation.
