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KARACHI: The government of Pakistan has secured a $300 million short-term loan from United Bank Limited (UBL) to meet its external debt repayment obligations. UBL Facilitates Loan through International Branches In a press release issued on Monday, UBL confirmed that its UAE and Bahrain branches arranged and financed the loan. The transaction underscores UBL’s capacity …
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Moody’s, the global credit rating agency, has upgraded the long-term deposit ratings of five major Pakistani banks. These banks have seen their ratings rise from Caa3 to Caa2. In addition to the rating upgrade, the outlook for these banks has also been revised to positive from stable, reflecting an optimistic view of their future performance. …
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