UBL announces record-breaking Rs20bn financing to Engro Fertilizers

MG News | June 06, 2024 at 11:41 AM GMT+05:00

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June 06, 2024 (MLN): United Bank Limited (PSX: UBL) has announced the conclusion of the largest private-sector lending to Engro Fertilizers Limited (PSX: EFERT), as revealed in the bank's latest social media post.

The financing amounted to Rs20 billion and marks a significant milestone in the bilateral relationship between the two institutions.

The signing ceremony was held at the UBL Digital Lab in Karachi on June 04, 2024.

Participants included senior executives from both institutions including Farooq Barkat Ali - Group CFO (Engro Corporation), Imran Khalil - CFO (EFERT), Manzoor Hussain Zaidi – Group Executive (CIBG UBL), Imran Sarwar – Group Executive (Risk & Credit UBL) and Nadia Tabassum – Deputy Head (CIBG UBL).

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