Union Bank

Union Bank may refer to:

See also

Union Bank (Pembrokeshire)

Union Bank was a bank operated by the firm of Bateman & Co. and it is listed in the London Directory for 1807. However, the date of establishment of the bank is unknown.

By December 1813, bank notes indicate that the business was being carried on under the style of Mathias, Lloyd, & Bowen. The partners were John Mathias, of Prendergast, Pembrokeshire, and Herbert Lloyd and Thomas Bowen, both of Haverfordwest.

By 1814, the bank appears to have been in difficulties, as John Mathias mortgaged certain bills of exchange held by John Evans of Bristol to secure any bills drawn by the firm not exceeding £3000 in value. Herbert Lloyd died around the beginning of 1816 and the bank was carried on by the surviving partners until it was declared bankrupt in May, 1816.

Bank notes

Only three bank notes of this bank are in existence, both for £1 1s. and are dated 1813. Both notes are signed by Thomas Bowen for Mathias Lloyd and Bowen.

Other Pembrokeshire banks

Other Pembrokeshire banks include: Haverfordwest Bank, J. Dunn & Co., Tenby, Milford and Pembrokeshire Bank, Milford Bank, Pembrokeshire Bank, and Lock, Hulme & Co.

Union Bank (Pakistan)

Union Bank was established in 1991, with its registered office in Faisalabad and headquarters in Lahore, Pakistan. In 2000 the bank relocated its headquarters to Karachi.

Prior to the merger with Standard Chartered Bank in 2006 (see below), it was Pakistan's eighth largest bank and had 65 branches in some 22 cities, about US$2 billion in assets, and about 400,000 customers.

History

In 2000, Union Bank acquired Bank of America's operations in Pakistan. Then in July 2001, Union Bank signed an Independent Operator agreement for American Express Cards in Pakistan. In 2002, Union Bank acquired the operations in Pakistan of Emirates Bank International. This purchase helped Union Bank become one of the larger private banks in the country.

In 2006, Standard Chartered Bank acquired 81% of Union Bank's shares for US$413 million. Under Pakistani law, it had to delist Union Bank and make an offer for the outstanding shares; the offer raised the total purchase price to about US$511. On 30 December 2006, Standard Chartered merged Union Bank with its own subsidiary in Pakistan, which has 46 branches in 10 cities. The merged bank is named Standard Chartered Bank (Pakistan) and is now Pakistan's sixth largest bank.