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Pin to quick picksUtd.bk (Regs) Regulatory News (UBLS)

Share Price Information for Utd.bk (Regs) (UBLS)

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Share Price: 6.40
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Disclosure of Material Information

Thu, 22nd Feb 2018 07:00

RNS Number : 6182F
United Bank Limited
22 February 2018

Secretary's Department

SD/PSX/Material-Info(UBL NY)/2018

February 22, 2018

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi.

Dear Sir,

DISCLOSURE OF MATERIAL INFORMATION

Yesterday a report has been published by Bloomberg regarding United Bank Limited (UBL). The report quotes an analyst at Elixir Securities as stating that the "bank said in its annual report it may face a similar issue as Habib Bank in NY operations." This is not accurate.

UBL's Unconsolidated Financial Statements as at December 31, 2017 make no reference to Habib Bank or to any issues that Habib Bank has faced. Rather, UBL's Unconsolidated Financial Statements as at December 31, 2017 provide in relevant part as under:

"UBL & its New York Branch have entered into a Written Agreement in 2013 with the Federal Reserve Bank of New York (FRBNY) to address certain compliance and risk management matters relating primarily to compliance with Anti Money Laundering Regulations including the Banking Secrecy Act. Management is in the process of addressing the matters highlighted in the Written Agreement and in the subsequent inspections. While the Bank seeks to comply with all possible laws and regulations and at this stage there is no indication of any financial impact, it is not possible to ascertain the eventual outcome of these matters."

UBL's Management is committed to safeguarding the interests of all stakeholders. UBL's financial results for 2017 speak for themselves, and UBL has announced a final cash dividend of Rs.4 per share (40%), which is in addition to interim dividends of Rs.9/- per share (90%).

The members of the Exchange may be informed accordingly.

Yours faithfully,

Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

Copy to:

London Stock Exchange

ANNEXURE "A"

DISCLOSURE FORM IN TERMS OF SECTIONS 15D(1) OF THE

SECURITIES AND EXCHANGE ORDINANCE, 1969

Name of Company:

United Bank Limited

Date of Report:

February 22, 2018

Exact Name of the Company as specified in memorandum

United Bank Limited

Registered Address of the Company

13 Floor, UBL Building, Blue Area, Islamabad.

Contact Information:

Aqeel Ahmed Nasir,

Company Secretary &

Chief Legal Counsel

Telephone Number: +92 21 990330960 &

+92 21 32400419

Please mark the appropriate box below.

[P] Disclosure of price sensitive information by listed company.

Public disclosure of price sensitive information, which directly concerns the listed securities.

Yesterday a report has been published by Bloomberg regarding United Bank Limited (UBL). The report quotes an analyst at Elixir Securities as stating that the "bank said in its annual report it may face a similar issue as Habib Bank in NY operations." This is not accurate.

UBL's Unconsolidated Financial Statements as at December 31, 2017 make no reference to Habib Bank or to any issues that Habib Bank has faced. Rather, UBL's Unconsolidated Financial Statements as at December 31, 2017 provide in relevant part as under:

"UBL & its New York Branch have entered into a Written Agreement in 2013 with the Federal Reserve Bank of New York (FRBNY) to address certain compliance and risk management matters relating primarily to compliance with Anti Money Laundering Regulations including the Banking Secrecy Act. Management is in the process of addressing the matters highlighted in the Written Agreement and in the subsequent inspections. While the Bank seeks to comply with all possible laws and regulations and at this stage there is no indication of any financial impact, it is not possible to ascertain the eventual outcome of these matters."

UBL's Management is committed to safeguarding the interests of all stakeholders. UBL's financial results for 2017 speak for themselves, and UBL has announced a final cash dividend of Rs.4 per share (40%), which is in addition to interim dividends of Rs.9/- per share (90%).

Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

Dated: February 22, 2018

This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSELSMEFASEFE
Date   Source Headline
7th Feb 20209:49 amRNS225th Board Meeting of UBL
10th Dec 201911:14 amRNSBOARD MEETING OTHER THAN FINANCIAL RESULTS
16th Oct 201911:25 amRNS3rd Quarter Results
4th Oct 201912:19 pmRNSNotice of Board Meeting and Closed Period
7th Aug 201912:06 pmRNSUnited Bank Limited - Half-year Report

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