Karachi, June 6, 2024 – United Bank Limited (PSX: UBL) has announced the successful conclusion of a historic Rs20 billion private-sector lending deal with Engro Fertilizers Limited (PSX: EFERT). This financing agreement, the largest of its kind in the private sector, marks a significant milestone in the relationship between the two prominent institutions.
The signing ceremony took place at the UBL Digital Lab in Karachi, attended by senior executives from both UBL and Engro Fertilizers. Representing Engro Corporation were Group CFO Farooq Barkat Ali and EFERT CFO Imran Khalil. UBL’s delegation included Manzoor Hussain Zaidi, Group Executive (CIBG UBL), Imran Sarwar, Group Executive (Risk & Credit UBL), and Nadia Tabassum, Deputy Head (CIBG UBL).
This substantial financing deal underscores UBL’s commitment to supporting major players in Pakistan’s private sector and highlights the bank’s capacity to facilitate large-scale financing essential for corporate growth and development. The agreement signifies a robust strategic partnership between UBL and Engro Fertilizers, reflecting mutual confidence and a shared vision for sustainable economic progress.
