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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchYes. The State Bank of Pakistan (SBP) sanctioned Silkbank Limited’s amalgamation into United Bank Limited (UBL) on March 10, 2025. The companies named March 11 as the effective date, from the start of business; UBL also described completion as occurring at the close of business on March 10. These descriptions refer to the same transition across the end of one day and the start of the next.
When did Silkbank merge into UBL?
SBP sanctioned the amalgamation under Section 48 of the Banking Companies Ordinance, 1962, on March 10, 2025. Its notification said Silkbank’s banking license would be cancelled effective at 23:59 that day. The companies’ disclosure identifies March 11, 2025, at the start of business as the effective date, while UBL’s annual report describes completion at close of business on March 10. The difference is a close-of-day/start-of-next-business-day distinction, not two separate transactions. SBP notification; UBL 2025 annual report; Joint company disclosure.
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| Date | What happened |
|---|---|
| March 10, 2025 | SBP sanctioned the scheme under Section 48 and notified cancellation of Silkbank’s license effective at 23:59. |
| March 11, 2025 | The companies’ disclosure names this as the effective date, from the start of business. |
| March 20, 2025 | Book-closure date used to determine which registered Silkbank shareholders were entitled to UBL shares. |
| March 25, 2025 | UBL disclosed that it had issued an aggregate 27,944,188 new ordinary shares to entitled former Silkbank shareholders. |
UBL’s annual report records that Silkbank’s undertaking—including its assets, liabilities, rights and obligations—vested in UBL. The report describes the transaction and its accounting treatment. UBL 2025 annual report.
What does the merger mean for former Silkbank customers?
UBL’s transition page says former Silkbank customers are now UBL customers and that existing banking services would remain uninterrupted. It also says changes would be communicated in advance through official channels. UBL provides general amalgamation and account-migration FAQs in English and Urdu. UBL’s Silkbank-to-UBL transition page.
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That general guidance does not confirm the live status or exact arrangements for every individual account, card, branch or product. For account-specific questions, check UBL’s current official channels and the migration information applicable to your account rather than assuming all legacy services have identical arrangements.
What was the Silkbank-to-UBL share swap ratio?
Under the scheme, eligible former Silkbank shareholders registered at the close of business on March 20, 2025, were due one UBL ordinary share for every 325 Silkbank ordinary shares, subject to legal and procedural requirements. The ratio alone does not establish entitlement: the book-closure registration date and the scheme’s other requirements also applied. Joint company disclosure.
UBL later disclosed that it issued 27,944,188 new ordinary shares in aggregate to entitled former Silkbank shareholders under the scheme. That is the company’s reported issuance total, not a statement that every former Silkbank shareholder qualified. UBL disclosure.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the official information does—and does not—establish
The transaction documents establish the regulatory approval, transition dates, shareholder exchange terms and UBL’s published customer guidance. They do not establish the current migration status of every legacy account, card, branch or product, or provide an independent assessment of effects on competition, employment, service quality or customers. Those broader outcomes should not be inferred from the merger approval or the share issuance figures.
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