United Bank Limited (UBL) has announced its proposal to merge with Silkbank Limited, according to a notice shared with the Pakistan Stock Exchange on Friday. This merger offer includes an exchange ratio where UBL will issue one of its shares for every 325 Silkbank shares held by Silkbank’s shareholders.
The proposed merger, to be approved by the State Bank of Pakistan (SBP) under Section 48 of the Banking Companies Ordinance, 1962, is contingent upon board and shareholder approvals from both banks, completion of transaction documentation, and all required corporate and regulatory consents.
