United Bank Limited (UBL) signed a Memorandum of Understanding (MoU) with the Industrial & Commercial Bank of China (ICBC) at a ceremony recently held in Karachi. UBL President Wajahat Husain, and ICBC CEO Alex He Shenghu were present at the ceremony. Senior officials from both banks were also in attendance at the occasion. This MoU sets out a conceptual framework and guiding principles for the two banks through which ICBC will benefit from UBL’s presence and banking experience in Pakistan. UBL will be able to leverage the dominant position that ICBC enjoys in China and explore business avenues to further the bank’s strategic business objectives.
Published in The Express Tribune, January 22nd, 2016.
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