ISLAMABAD – United Bank Limited (UBL) to surrender its license in theUnited States of America.
The decision has been taken as part of the Bank’s global realignmentstrategy and keeping in view the commercial viability of the operationsthere.
According to the filing to Pakistan Stock Exchange Thursday, the Bank saidthat it has notified this intent to New York Deparment of FinancialServices (NYDFS). UBL will continue to work closely with its US regulatorsthroughout the voluntary liquidation process to ensure that the New York iswound down in an orderly manner, complying with all applicable Federal andState Laws, rules and regulations.
