 | |
| Company type | Public |
|---|---|
| Industry | Banking |
| Founded | 1991 |
| Defunct | 2006 |
| Fate | Acquired |
| Successor | Standard Chartered |
| Headquarters | , |
| Products | Loans, Credit Cards, Savings, Consumer Banking etc. |
| Total assets | US$2 Billion (2006) |
Union Bank was a Pakistani bank based in Karachi, Pakistan. It was established in 1991 with its headquarters in Lahore, Pakistan. In 2000 the bank relocated its headquarters to Karachi. It was acquired by Standard Chartered Bank in 2006.
Prior to the merger, it was Pakistan's eighth largest bank and had 65 branches in some 22 cities, about US$2 billion in assets, and about 400,000 customers.[1]
YouTube Encyclopedic
-
1/5Views:45 67741 82576 82350 65663 535
-
What is the Master, Visa, UnionPay & PayPak Cards || Bank Cards Explanation
-
What is UnionPay | Union Pay VS Mastercard & VISA | Union Pay in Pakistan?
-
Western Union Se Paise Nikale Ka Tarika|How To Receive Money From Western Union|Western Union 2020|
-
How To Create Western Union Account|Western Union Account Kaise Banane|Western Union Account 2020|
-
Best Bank for YouTube Payment in 2023 | Which Bank is best for YouTube Payment 💰
Transcription
History
In 2000, Union Bank acquired Bank of America's operations in Pakistan. Then in July 2001, Union Bank signed an Independent Operator agreement for American Express Cards in Pakistan. In 2002, Union Bank acquired the operations in Pakistan of Emirates Bank International. This purchase helped Union Bank become one of the larger private banks in the country.
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. On 30 December 2006, Standard Chartered merged Union Bank with its own subsidiary in Pakistan, which has 46 branches in 10 cities. The merged bank is named Standard Chartered Bank (Pakistan) and is now Pakistan's sixth largest bank.[2][3][4]
See also
References
- ^ "Two major banks are in merger talks". 16 May 2006.
- ^ "Standard Chartered Acquisition of 95.37% Interest in Union Bank Ltd" Standard Chartered, 6 September 2006
- ^ "Standard Chartered acquires Union Bank" The Dawn, 5 September 2006
- ^ "Standard Chartered Bank (Pakistan) Limited | EMIS " securities.com
External links
| Divisions and subsidiaries |  | |
|---|---|---|
| Predecessors | ||
| Places | ||
| Management |
| |
| Sponsorships | ||
| Other | ||
| Central bank | |||||
|---|---|---|---|---|---|
| Big Four | |||||
| Commercial banking |
| ||||
| Microfinance | |||||
| Islamic banking | |||||
| House building | |||||
| Savings Bank | |||||
| Foreign banks | |||||
| Defunct banks | |||||
| See also | |||||
 | This Asian bank-related article is a stub. You can help Wikipedia by expanding it. |
This page was last edited on 14 May 2024, at 06:18