KARACHI: United Bank Limited (UBL) announced the successful amalgamation of Silkbank Limited (SBL) with and into UBL, that has come into effect from 11th
March 2025, marking a pivotal step in its journey as Pakistan’s premier financial institution.
The scheme of amalgamation of SBL with and into UBL has been sanctioned by the State Bank of Pakistan (SBP) through its Sanction Order dated 10th March 2025, under the provisions of Section 48 of the Banking Companies Ordinance 1962 (BCO).
For now, no changes will be made to the banking services of former SBL customers who will be able to conduct their banking transactions as usual from their respective branches without any interruption.
However, once the full integration is complete former SBL customers will gain direct access to UBL’s extensive network of branches and ATMs alongside enhanced portfolio of products and services and advanced digital banking solutions.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.