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As the president of the Union Bank, Tarin was associated with the acquisition by Standard Chartered Bank of a 95.37% interest in Union Bank in September 2006. The amount paid was $487 million, in cash. [9] [10] [11] Shaukat Tarin has also been elected twice as chairman of Karachi Stock Exchange (KSE), the last one being in the year 2008. [12]
In March 2008, a consortium comprising International Finance Corporation, Bank of Muscat, Nomura and Sinthos Capital led by Pakistani banker Shaukat Tarin acquired a majority stake in Saudi Pak bank for $213 million. [8] [9] In June 2008, the bank changed its name to Silk Bank Limited. [8] In 2015, Arif Habib acquired 28.23 percent stake in the ...
This led a change in economic managers, and politically elected finance minister Naveed Qamar was replaced by a financial advisor, Shaukat Tareen, a former banker belonging to Citigroup on October 8, 2008. The new finance advisor led the Pakistani delegation to IMF-World Bank meeting in USA with a hope to obtain a loan from the World Bank which ...
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.
The company's logo The former Union Bank logo used from 1996 prior to the 2008 rebranding Former Union Bank logo from December 2008 to November 2017 A branch in Los Angeles. Union Bank was an American national bank with 398 branches in California, Washington, and Oregon.
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In 2023, customers filed 417 complaints to the Consumer Financial Protection Bureau over the bank's checking and savings accounts, a dramatic increase from 150 in 2018.
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