UBL approves Rs40bn for Agriculture, KMBL, University

MG News | July 22, 2026 at 12:46 PM GMT+05:00

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July 22, 2026 (MLN): United Bank Limited (PSX: UBL) has approved investments and contributions totaling up to Rs40 billion for an agriculture subsidiary, Khushhali Microfinance Bank Limited (KMBL), and the establishment of a non-profit university.

The Board of Directors has approved an investment of Rs8bn to establish a majority-owned private limited subsidiary focused on boosting Pakistan's agriculture sector and farmers' livelihoods through technology-enabled research and advisory services, subject to regulatory approvals, the company's filing on PSX revealed today.

The board has also approved a further equity investment of up to Rs22bn in KMBL through participation in a rights issue and underwriting commitments. KMBL reported negative equity of Rs16.15bn as of December 31, 2025. The proposal is subject to shareholder and regulatory approvals.

Additionally, the board approved a contribution of Rs10bn over three to five years, alongside other promoters, to establish a new university as a Section 42 non-profit company or charitable trust in collaboration with Bestway Foundation. The proposal is subject to regulatory approvals.

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