UBL shareholders approve up to Rs22bn investment in Khushhali Microfinance Bank

Shareholders of United Bank Limited (PSX: UBL) have endorsed a further equity commitment of up to Rs22 billion in Khushhali Microfinance Bank, according to Mettis Global, after an extraordinary general meeting on August 24, 2026. The decision was taken through special resolutions under Section 199 of the Companies Act, 2017, which needed support from at least three-fourths of eligible members.

UBL will take up its proportionate share of KMBL's rights issue at a discount, which works out to roughly 51.166 new ordinary shares for each existing share held. Each new share has a Rs10 face value, but the price payable is Rs2, a Rs8 discount per share. The resolution also lets UBL subscribe to unsold shares as underwriter and buy more shares through negotiated deals, although the approval depends on KMBL going ahead with the issue and securing regulatory clearances.

Any two of four senior officers, including the president and chief executive along with the chief financial officer, have been authorised to sign the agreements needed to implement the decision. Shareholders also confirmed the minutes of the 67th Annual General Meeting, held on March 26, 2026, without any amendment. The bank informed the stock exchange of these outcomes through a formal notice.