Islamabad, Mar 25, 2025: United Bank Limited (UBL) has successfully integrated Silk Bank Limited (SBL), finalizing the long-anticipated merger.
In line with this transition, UBL has officially credited new shares to the Central Depository Company (CDC) accounts of former SBL shareholders.
The merger, effective from March 11, 2025, was approved by the State Bank of Pakistan (SBP) under Section 48 of the Banking Companies Ordinance, 1962.
This regulatory green light allowed UBL to move forward with the issuance of new shares to eligible SBL shareholders.
As part of the share allocation, UBL has issued 27,944,188 ordinary shares, each valued at Rs. 10.
The exchange was conducted at a predetermined ratio, where every 325 shares of Silk Bank were converted into one UBL share.
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This ensures a fair and transparent distribution process for all stakeholders involved.
However, only those individuals who were officially registered as SBL shareholders by the close of business on March 20, 2025, qualify for this share allocation.
The successful completion of this merger strengthens UBL’s market position and enhances financial stability for its investors.
Although, This strategic move aligns with UBL’s long-term growth objectives, enabling it to expand its customer base and strengthen its operational capabilities in Pakistan’s banking sector.
