The ‘Bestway’ for United Bank Limited?

Despite a restructuring in the shareholding of United Bank Limited (UBL), management control of the bank shall remain unaffected.

A letter sent by the UBL to Securities and Exchange Commission of Pakistan cited that “the consortium of Bestway Group (BG) and Abu Dhabi Group (ADG) hold 61.37 per cent shares in and control of UBL”. The letter explained that management control of the bank will remain with this consortium.

On the other hand, some analyst believe that Bestway will take over the management of UBL in the mid of 2011.

Comments

Post a Comment

Popular posts from this blog

Comparison of Karachi Stock Exchnage Indices

Pakistani stock market comprises of 3 stock markets namely; Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE), and Islamabad Stock Exchange (ISE). Karachi Stock market is the leading stock exchange in Pakistan. It comprises of 4 indices, i.e. All Share index, KSE-100 index, KSE-30 index, and KMI (KSE Meezan Index)-30 index. The KSE-100 was launched in 1991 with a base of 10,000 points. It is an index acting as benchmark to compare prices on the Karachi Stock Exchange over a period of time. The index comprises 100 companies selected on the basis of sector representation and highest market capitalization, which captures over 80% of the total market capitalization of the companies listed on stock exchange. Out of the 35 sectors, 34 companies are selected i.e. one company from each sector (excluding Open-End Mutual Fund Sector) on the basis of the largest market capitalization and the remaining 66 companies are selected on the basis of largest market capitalization in descending
Read more

Saving Habit in minor

Image
When I was below the age majority - 18 years (Pakistan) - my parents used to say Beta don't spend all of your money rather you must save some of Rupees from your pocket money. They used to buy ceramic/clay pot  ( اردو:  غلّہ)  for me, so I can put some of my pocket money in the pot for future use. This was the move of my parents to inculcate saving habits in me. Today - in the technological era; strong financial system; Banking institutions - the use of those ceramic/clay pots is almost dying perhaps died. Many banks offer account services for the age group of new born upto the age of majority to motivate young generation to save for their future needs. In Pakistan following bank offers following accounts with different benefits and features: Bank Al Habib Young Savers account Bank Al Habib, one of the growing bank in the metropolitan city Karachi, with over 350 branches countrywide icluding more than 100 branhces alone in Krachi offers account for young
Read more