UBL to invest Rs1bn in wholly-owned subsidiary UBL Currency Exchange

MG News | February 21, 2024 at 12:34 PM GMT+05:00

0:00

February 21, 2024 (MLN): The Board of Directors of United Bank Limited (PSX: UBL) has approved an investment of Rs1 billion in its wholly owned subsidiary UBL Currency Exchange (Private) Limited (UBLCEPL), the bank's filing on PSX revealed today.

With this investment, UBL would increase its paid-up capital in its subsidiary to Rs2bn, subject to all applicable corporate compliances and regulatory approvals.

This investment will help capitalize UBLCEPL for available expansion options and is expected to reap benefits for UBL in the future.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	156,177.82 367.85M	-0.00% -3.12
ALLSHR	95,630.38 1,498.37M	-0.06% -60.44
KSE30	47,678.47 206.79M	-0.08% -35.92
KMI30	229,682.22 174.86M	-0.02% -39.87
KMIALLSHR	64,366.76 638.47M	-0.08% -53.31
BKTi	41,922.80 89.51M	-0.11% -46.72
OGTi	31,735.79 16.87M	-0.80% -255.97

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,065.00	118,295.00 116,115.00	2240.00 1.93%
BRENT CRUDE	67.88	68.01 67.50	-0.07 -0.10%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	93.50	93.50 93.50	0.15 0.16%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.61	63.82 63.24	-0.44 -0.69%
SUGAR #11 WORLD	16.23	16.59 16.23	-0.33 -1.99%