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United Bank Limited: Background and Introduction

United Bank Limited (UBL) was established in Pakistan in 1959 and has since grown to become one of the largest private banks in the country. UBL introduced several banking innovations to Pakistan such as computer banking in 1967 and credit cards in the 1970s. In 2002, the bank was privatized through an acquisition by Bestway Group and Al-Aayan Family. Today, UBL operates across Pakistan and internationally with the vision of being a world-class customer-focused bank.

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371 views3 pages

United Bank Limited: Background and Introduction

United Bank Limited (UBL) was established in Pakistan in 1959 and has since grown to become one of the largest private banks in the country. UBL introduced several banking innovations to Pakistan such as computer banking in 1967 and credit cards in the 1970s. In 2002, the bank was privatized through an acquisition by Bestway Group and Al-Aayan Family. Today, UBL operates across Pakistan and internationally with the vision of being a world-class customer-focused bank.

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foqia nishat
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We take content rights seriously. If you suspect this is your content, claim it here.
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UNITED BANK LIMITED

BACKGROUND AND INTRODUCTION:

It began with a vision, a vision of unparalleled progress and unmatched excellence true to the
spirit of the era! On 7 November 1959, Pakistan witnessed an event that would change the way
we banked forever. It was not just the inauguration of UBL’s first branch at I.I. Chundrigar; it
was also the birth of the culture of service, a culture of innovation and a culture of financial
excellence!
By June 1960, shortly after six months of opening its doors to the public, UBL had branches in:
 Karachi
 Dacca
 Lahore
 Lyallpur
 Chittagong
 Narayanganj
In 1963, UBL became the first bank in Pakistan to have a branch overseas- on William Street in
London, United Kingdom. True to our promise of providing service and care beyond the
ordinary to our customers, UBL and You have had a history. The first saving scheme for school
going children was launched as early as 1960 or the formation of Pakistan’s first Staff College of
employees in 1964, UBL, through the motivation of its staff and the trust of its customers,
continued to grow at a spectacular pace. In 1967, UBL had hit the dawn on information in terms
of technology, by introducing computer banking to Pakistan and in 1971, UBL once again paved
the way by launching 3 online branches in Karachi. The newly formed state of Pakistan was
witnessing the boom of industries and commerce – cannoned by a bank that believed in the
potential growth of Pakistan. Small wonder then, by 1978, UBL had a pledged economic
department, had acquired two international banks. UBL also launched supervised credit and
small loan schemes for small to medium sized firms as well as agriculture and had made for
itself, a strong international presence for we had branches in 4 continents.
Throughout its history, UBL has kept pace with- and often exceeded the changing needs of
changing times. Keeping the tradition of innovation alive, UBL introduced Pakistan’s first credit
card, the UNICARD in 70’s and left its mark by launching the Pak Rupees traveler cheques in
1971. Staying true to its roots, UBL was also the first bank to have an Islamic banking division
and the first to introduce e-banking facilities at Hajj.
In the 1990’s the government of Pakistan decided to change the face of banking by creating a
blueprint to privatize UBL. At this point, financial experts were called on board to set the bank
back on course, and with implementation of relevant changes, the government privatized the
bank in the year 2002 – Best way and Al Ayaan collaborated, forming the cornerstone for the
UBL of tomorrow.
Today, UBL opens its eyes to a new vision every day, a vision of resurgent excellence and
renewed commitment to our customers. 58 years into our glorious history – UBL is now part of
one of the world’s largest financial services groups.

Board of Directors

Sir Mohammed Anwar Pervez, OBE, HPk - Chairman/Non-Executive Director


Mr. Zameer Mohammed Choudrey, CBE - Non Executive Director
Mr. Haider Zameer Choudrey - Non Executive Director
Mr. Rizwan Pervez - Non Executive Director
Mr. Arshad Ahmad Mir - Non Executive Director
Mr. Khalid A. Sherwani - Independent Director
Mr. Amar Zafar Khan - Independent Director
Mr. Tariq Rashid - Independent Director
Ms. Sima Kamil - President & CEO

Vision
To be a world class bank dedicated to excellence, and to surpass the highest expectations of our
customers and all other stakeholders.

Mission
 Be the undisputed leader in financial services for our customers
 Most innovative and fastest growing bank in targeted businesses
 Continue to diversify across chosen geographies
 Achieve operational excellence with the highest level of compliance
 Consistently create leaders through inspired human capital
 Contribute positively to the communities we operate in
Values
 Customer first
 Honesty of purpose
 Teamwork
 Excellence
 Meritocracy

Credit Rating:

JCR-VIS Credit Rating Company Limited (JCR-VIS) re-affirmed the entity ratings of UBL at
‘AAA/A-1+’ (Triple A/A-One Plus) on June 29, 2018

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