UBL formerly used to have subsidiaries in the United Kingdom and Switzerland and a branch in New York. Today, UBL is the largest bank in the private sector in Pakistan and has over 1,390 branches nationwide, 18 overseas branches, a significant presence throughout the Middle East, and representative offices in Beijing and Kazakhstan. Pakistan is highlighted in dark green for reference. Highlighted countries have branches, subsidiaries and/or representative offices of the bank. Operations Map depicting worldwide operations of United Bank (Pakistan). United Bank profit during 1HCY20 stood at Rs10.9 billion. This was approved by the Board of Directors of UBL but is conditional on the approval of the State Bank of Pakistan. UBL announced on 12 September 2023 that its largest shareholder, Bestway Group, had submitted an 'Indicative Offer' to acquire UBL's 55% shareholding in its United Kingdom joint venture with the National Bank of Pakistan, United National Bank Limited 'UNBL UK'. UBL announced on 12 June 2021 that it was winding up its wholly owned Switzerland subsidiary, UBL (Switzerland) AG, which it had owned since 1967. In November 2018, UBL announced that it was voluntarily shutting down its New York City branch due to it being commercially nonviable to operate. This was Pakistan's first transaction in the global equity market in almost eight years. In June 2014, the Government of Pakistan sold its remaining 19.8% stake in UBL for US$387 million ($310m of which was in foreign exchange). Through an investment of over $120 million, the Bestway Group acquired the entire shareholding of its former joint venture partner the Abu Dhabi Group. In December 2013, the Bestway Group increased its shareholding in UBL to 61.37% by acquiring an additional 10.3% of the shares from the Abu Dhabi Group. In June 2012, UBL led a consortium which acquired a 67.4% stake in Khushhali Bank, which is the largest micro-finance institution in Pakistan. The Bank added 200 branches in 20, thus increasing its domestic network to over 1,300 online branches with 800 ATMs.

This was a total investment of US$230.0 million in Pakistan's second largest private commercial bank. In January 2011, Bestway Group increased its shareholding in UBL to 51.07% by acquiring an additional 20% of the shares from the Abu Dhabi Group. Today, Omni Dukaan network has grown to 42,100 agents in Pakistan. Through the success of UBL Omni 1.55 million previously unbanked individuals have opened mobile bank accounts with UBL in Pakistan. As of June 2014 UBL Omni had a customer base in excess of 6.8 million, with over 1.5 million active cards in issue and 5 million monthly transactions valued at over US$253 million. In April 2010, UBL launched UBL Omni, an in-house developed project designed to provide banking facilities to the unbanked population of Pakistan. UBL is the only Pakistani bank and one of the only two Pakistani companies that are listed on the London Stock Exchange. The offering targeted institutional investors and raised in excess of US$650 million. In June 2007 the Global Depository Receipts of UBL were listed on the London Stock Exchange. In August 2005 UBL became the first bank to achieve the 'Authorised Derivatives Dealer' status in Pakistan – the only domestic bank to achieve this status. In June 2005 with the launch of 'UBL Money', a fixed instalment personal loan product, UBL became the only bank in Pakistan to provide a complete suite of consumer financing products. In February 2005 UBL became the first bank in South Asia to launch the EMV enabled credit card. In August 2003, UBL launched Pakistan's first derivative money market product. United Bank owns 55% of the joint-venture and National Bank of Pakistan owns the remainder. Also, the bank merged its operations in the United Kingdom with those belonging to National Bank of Pakistan to form United National Bank Limited. In 2002, the Government of Pakistan sold 51% of its shares of the bank to a consortium of Abu Dhabi Group and Bestway. This, in turn, led to Agha Hasan Abedi founding the Bank of Credit and Commerce International. In 1974, the Government of Pakistan nationalized the bank. History UBL Headquarters at night UBL street viewĪgha Hasan Abedi founded the bank in November 1958 and it became the second largest bank in Pakistan. Its largest shareholder is the British investment company Bestway Group who own 61.48% of the business. It is listed on the Pakistan Stock Exchange.

United Bank Limited (UBL) ( یونائیٹڈ بینک لمیٹڈ) is a Pakistani multinational commercial bank which is based in Karachi, Pakistan.įor the year 2020, UBL was designated domestic systemically important bank (D-SIB) by the State Bank of Pakistan. International GDRs (non-voting shares) (0.07%)

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