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In June 2002, Union Bank acquired 10 branches of Emirates Bank in Pakistan for $18 million. [2] In 2006, Standard Chartered Bank acquired 81% of Union Bank's shares for US$413 million. Under Pakistani law, it had to delist Union Bank and make an offer for the outstanding shares; the offer raised the total purchase price to about US$511.
[5] [6] At the time of the merger, Standard Chartered was the largest foreign bank in Pakistan and operated in all four provinces, maintaining a network of 21 branches. [4] In 2006, Standard Chartered Bank acquired Union Bank in Pakistan. On 30 December 2006, Standard Chartered merged Union Bank with its own subsidiary, Standard Chartered Bank ...
Citi Bank N.A (CitiBank N.A Pakistan) Industrial and Commercial Bank of China Limited (ICBC Pakistan) Bank of China [3] (Bank of China Pakistan Branch) The Hong Kong and Shanghai Bank (HSBC Bank Pakistan) The Bank of Tokyo-Mitsubishi UFJ (MUFG Bank Pakistan) Saudi National Bank (Samba Financial Group|Samba Bank (Pakistan) Limited)
The State Bank of Pakistan gained autonomy, and United Bank Limited, which had collapsed, was recapitalized under central bank management. [1] In 1997, Pakistan initiated banking reforms to address long-standing issues within major state-owned banks, such as the National Bank of Pakistan (NBP), Habib Bank Limited (HBL), and United Bank Limited ...
Union Bank or Unionbank may refer to: Unionbank (Austria) , an Austrian bank active created in 1870, merged into Allgemeine Bodencreditanstalt in 1927 Union Bank (Albania)
Within Pakistan the same number can be reached by dialing either 03XZ-YYYYYYY or '0092-3XZ-YYYYYYY' or '+92-3XZ-YYYYYYY' from any mobile device or landline. In order to dial a landline number from a mobile phone in Pakistan, city code is required in all cases. However, city code is not required between landline calls within the same city.
In 2002, the Government of Pakistan sold 51% of its shares of the bank [4] to a consortium of Abu Dhabi Group and Bestway. Also, the bank merged its operations in the United Kingdom with those belonging to National Bank of Pakistan to form United National Bank Limited. United Bank owns 55% of the joint-venture and National Bank of Pakistan owns ...
1LINK is the largest banking consortium in Pakistan. The State Bank of Pakistan has mandated that all commercial banks in Pakistan, both foreign and domestic, become members of 1LINK. Additionally, the four switches have been interconnected since 2006.