Silkbank attracts merger interest from UBL.

Silkbank Limited, a key player in Pakistan's Consumer Banking market has attracted merger interest from UBL, one of the leading financial institutions in the country. This potential merger signifies the importance of Silkbank's strong business portfolio and impressive growth prospects.

Silkbank has consistently demonstrated a robust performance in recent years in the Consumer Banking category with one of the top performing businesses of the industry. Silkbank's Branch Banking network is also strategically located across 29 major cities. The bank has also been developing its Digital infrastructure and capabilities enabling it to offer innovative and convenient Digital solutions to its customers. The Bank is known for its personalized and responsive service to its customers that fosters long-term relationships.

Silkbank has also recently formed a REIT with M/s Arif Habib Dolmen REIT Company on Bank owned real estate which is expected to generate substantial profits in the coming years.

The potential merger with UBL will provide a boost to the combined entity to further expand the operations into flagship Retail and Consumer portfolios and will help accelerate the growth.

UBL and AKS IQ to implement advanced anti-money laundering solution.

United Bank Limited (UBL) has partnered with AKS iQ, a leading Reg Tech company, to implement an advanced trade-based anti-money laundering (TBML) solution in line with the Bank's commitment to innovation and digitization.

This high-tech solution will enable UBL to execute import and export transactions in a highly automated environment while conducting Anti-Money Laundering (AML) checks with greater flexibility, mitigate operational and compliance issues and facilitate data-driven decision-making across key departments, improving service standards, customer experience and reducing risk levels.

The partnership agreement was signed at UBL's Head Office in Karachi by Mr. Shazad G. Dada, President and CEO, UBL and Mr. Yahya Ghaznavi, CEO, AKS iQ. Senior executives from both companies, including Mr. Sajid Hussain, Group Executive - Operations, Mr. Irfan Farooq Memon, Group Executive - Compliance, Mr. Muhammad Faisal Anwar, CIO, from UBL, and Mr. Omer Manya, CDO and Dr. Asim Imdad, CIO from AKS iQ, were also present at the signing ceremony.

At the event, Mr. Shazad G. Dada, President and CEO UBL said "As Pakistan's most progressive and innovative bank, UBL is committed to implementing state-of-the-art technology...