NEW YORK: The United Bank Limited (UBL) has decided to close down its operations here as it is voluntarily liquidating and surrendering its license, as per Banking Law.
The decision was made after viewing the commercial viability of the NY Branch. The bank informed the Pakistan Stock Exchange of the development and told that it will continue to work closely with its US regulators throughout the voluntary liquidation process to ensure that the Big Apple branch is closed down in an orderly manner, complying with all applicable laws.
