Union Bank 5272164 223201817 2008-07-03T00:59:20Z Squids and Chips 2947772 Disambiguate [[Jhelum]] to [[Jhelum (city)]] using [[:en:Wikipedia:Tools/Navigation_popups|popups]] :''This article is about the bank in Pakistan. For other similarly named banks, see [[Industrial and Commercial Bank of China (Asia)|Union Bank of Hong Kong]], [[Union Bank of California]],[[Union Bank of India]] and the Harriman-Bush [[Union Banking Corporation]].'' {{Infobox Defunct Company | company_name = United Bank | company_logo = [[Image:Union bank pakistan.JPG]] | company_type = [[Private company|Private]] | company_slogan = | foundation = [[1991]] | defunct = [[2006]] | fate = Acquired by [[Standard Chartered]] | location = Principal Office <br> [[Karachi]], [[Pakistan]] {{flagicon|PAK}} | key_people = | industry = [[Banking]]<br />[[Global Markets]] | products = Loans, [[Credit Card]]s, Savings, Consumer Banking etc. | revenue = [[image:green up.png]] [[PKR]] | num_employees = | homepage = }} '''Union Bank''' was established in [[1991]] and had its headquarters in [[Karachi]], [[Sindh]], [[Pakistan]]. Prior to the merger with Standard Chartered Bank (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. 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. == 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. As a result, Union Bank now issues, operates and markets American Express cards in Pakistan. The Bank is also in the business of acquiring merchants accepting [[VISA]], [[MasterCard]], [[American Express]] and JCB cards. 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. == Services == * Personal Finance * Commercial Finance * Credit Cards * Home Finance * Car & Motorcycle Finance * Business Finance == Branches == The bank had branches in [[Faisalabad]], [[Multan]], [[Gujrat]], [[Peshawar]], [[Gujranwala]], [[Quetta]], [[Hyderabad, Pakistan|Hyderabad]], [[Rahim Yar Khan]], [[Islamabad]], [[Raiwind]], [[Jhelum (city)|Jhelum]], [[Rawalpindi]], [[Karachi]], [[Sahiwal]], [[Lahore]], [[Sargodha]], [[Mardan]], [[Sialkot]], [[Mirpur]], [[Swat]], and [[Vehari]]. == Board of Directors == * Mr. Shaukat Tarin (CEO, President) * Dr. Abdullah Mohammad Abdullah Basodan * Dr. Najeeb Samiel * Mr. Salman Masud * Mr. Mustapha Amir Chinoy * Mr. Nazir-ul-Kabir * Mr. Zaheer Sajjad * Mr. Justice (Retd) Khalil-ur-Rehman Khan {{asia-bank-stub}} [[Category:Defunct banks]] [[Category:Banks of Pakistan]] [[Category:Standard Chartered]]