United Bank Ltd.: Update following rating upgrade; outlook positive
Our credit view of this issuer reflects its stable deposit-based funding profile and resilient earnings-generating capacity, against its high exposure to the Pakistani government.United Bank is engaged in commercial banking and related services. Co. operates five business segments: Corporate Finance, Trading and Sales, Retail Banking, Commercial Banking and Asset Management. As of Dec 31 2016, Co. operates 1,341 branches inside Pakistan including 47 Islamic Banking branches and 2 branches in Export Processing Zones, and 18 branches outside Pakistan.
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