UBL completes Acquisition of Silkbank Limited

KARACHI:United Bank Limited (UBL) has successfully completed the amalgamation ofSilkbank Limited (SBL)with and into UBL, effective fromMarch 11, 2025. This milestone marks a significant step in UBL’s journey as one of Pakistan’s leading financial institutions. The merger has been formally approved by the State Bank of Pakistan (SBP) through a Sanction Order issued onMarch 10, 2025, under the provisions of Section 48 of the Banking Companies Ordinance 1962 (BCO). For the time being, former SBL customers will continue to access banking services without any disruption. They can conduct their transactions as usual from their existing SBL branches. Once the integration process is fully completed, former SBL customers will benefit from UBL’s extensive network of branches and ATMs. They will also gain access to a broader range of financial products, enhanced services, and advanceddigital banking solutions. The successful completion of this merger further strengthens UBL’s position in the market, enhancing its ability to provide comprehensive financial services to a wider customer baseacross Pakistan.