UBL announces to wind up its wholly owned subsidiary

KARACHI: United Bank Limited (UBL) on Thursday announced that  it is winding up its wholly-owned subsidiary United Executors and Trustees Company Limited.

In a letter sent to the Pakistan Stock Exchange, the UBL said: “This is to inform that the meeting of the Board of Directors held on February 19, 2020, the Board resolved to wind up United Executors and Trustees Company Limited, a wholly-owned subsidiary of UBL.”

“‘The company is inactive, hence, winding up of this company will not have any impact on the overall profitability of UBL,” the letter further said. 

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Must Read

Punjab E&T dept collects Rs430m property tax till Nov

MULTAN: The Punjab Excise, Taxation and Narcotics Control Department till November collected Rs430 million out of the Rs675 million property tax set target for...