INSITITUTE OF BUSINESS AND TECHNOLOGY (BIZTEK

)

INTRODUCTION TO INFORMATION TECHONOLOGY

Presented to
Mr. XXXXXX

INSITITUTE OF BUSINESS AND TECHNOLOGY (BIZTEK)

Group Members
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Distribution of Work for Making of Report Group Members Work Done
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INSITITUTE OF BUSINESS AND TECHNOLOGY (BIZTEK)

STATEMENT OF SUBMISSION

Date: December 5, 2008

In accordance with the requirement of the course of “Change Management” Final Project, We present the following project entitled “Take over of UBL”. This work was performed under the supervision of Mr.XXXXX We declare that all the work submitted in this project is our own and is by done by the combined effort of our group.

XXXXXXXXXX ID: - XXXXXXXX

INSITITUTE OF BUSINESS AND TECHNOLOGY (BIZTEK)

ACKNOWLEDGEMENTS

All prays and glory is to ALLAH who is the creator of the universe. We are grateful to ALLAH ALMIGHTY who gave us courage to make this project easily. We would like to thank our course teacher, Mr. xxxxx. He helped us in this project and has been a constant source of guidance throughout the course of “Change Management”. We would also thank our friends who helped us in the preparation of this project and their support lead to the completion of this project.

INSITITUTE OF BUSINESS AND TECHNOLOGY (BIZTEK)

GLOSSARY OF TECHNICAL TERMS AND ABBREVIATIONS

                             

ABL CDC CDS Consortium CRO CVT GoP HBL HE HH HPk ICP ISE KSE LSE NBP OBE OFSD Ordinance PC PRCL SBP SCRA SECP SLIC SSGC TFC UAE UBL YoY

Allied Bank of Pakistan Limited Central Depository Company of Pakistan Limited Central Depository system The Abu Dhabi Group, UAE and The Bestway Group, UK Company Registration Office Capital Value Tax Government of Pakistan Habib Bank Limited His Excellency His Highness Hilal-e-Pakistan Investment Corporation of Pakistan Islamabad Stock Exchange (Guarantee) Limited Karachi Stock Exchange (Guarantee) Limited Lahore Stock Exchange (Guarantee) Limited National Bank of Pakistan Order of the British Empire Offer for Sale Document Companies Ordinance, 1984 Privatisation Commission Pakistan Reinsurance Company Limited State Bank of Pakistan Special Convertible Rupee Accounts Securities & Exchange Commission of Pakistan State Life Insurance Corporation of Pakistan Sui Southern Gas Company Limited Term Finance Certificate United Arab Emirates United Bank Limited Year on Year

INSITITUTE OF BUSINESS AND TECHNOLOGY (BIZTEK)

Table of Contents
STATEMENT OF SUBMISSION....................................................................................iii ACKNOWLEDGEMENTS...............................................................................................iv GLOSSARY OF TECHNICAL TERMS AND ABBREVIATIONS................................v Chapter 1: INTRODUCTION.............................................................................................1 1.1 Traditional Banking..................................................................................................1 1.2 Mergers and Acquisitions.........................................................................................1 1.3 Change Management................................................................................................2 1.4 Role of Management in Organizational Change.......................................................2 1.5 Structure of Report....................................................................................................3 Chapter 2: INTRODUCTION TO UNITED BANK LIMITED.........................................4 2.1 United Bank Limited.................................................................................................4 2.2 History of UBL.........................................................................................................4 2.3 Shareholding Structure..............................................................................................5 2.4 The Abu Dhabi Group..............................................................................................5 2.5 The Bestway Group..................................................................................................6 2.6 The Board of Directors.............................................................................................7 CHAPTER 3: PRIVATIZATION OF UNITED BANK LIMITED...................................8 3.1 Reasons for Privatization..........................................................................................8 3.2 Bids & Process..........................................................................................................8 3.3 The Controversial Sale..............................................................................................9 3.4 The Consortium........................................................................................................9 CHAPTER 4: MANAGEMENT OF UNITED BANK LIMITED...................................11 4.1 Management of UBL .............................................................................................11 4.2 Profiles of Directors................................................................................................11 4.2.1 The President and CEO....................................................................................12 4.2.1 H.H. Shaikh Nahyan AL Nahyan HPK...........................................................13 4.2.1 Mr. Mohammed Pervez OBE, HPK................................................................14 CHAPTER 5: THE RECONSTRUCTION OF UNITED BANK LIMITED...................15 5.1 UBL Perspective.....................................................................................................15 5.2 The Objectives of Reform.......................................................................................15 5.2.1 Stem the Bleeding............................................................................................16 5.2.2 Create Key Building Blocks............................................................................16 5.2.3 Consolidate for Growth....................................................................................17 CHAPTER 6: SERVICES OF UBL ................................................................................18

INSITITUTE OF BUSINESS AND TECHNOLOGY (BIZTEK) 6.1 Services of UBL before Takeover..........................................................................18 6.1.1 Deposits............................................................................................................18 6.1.2 Loans................................................................................................................18 6.2 Services of UBL after Takeover.............................................................................19 6.2.1 Deposits............................................................................................................19 6.2.2 Loans................................................................................................................20 6.2.3 Services............................................................................................................20 6.2.4 NRP Services...................................................................................................20 CHAPTER 6: CONCLUSION AND FUTURE WORK..................................................21 6.1 Conclusion..............................................................................................................21 6.2 Future work ............................................................................................................21

Chapter 1: Introduction

Chapter 1: INTRODUCTION

1.1 Traditional Banking
As early as the 1800s, people have held their money in banks. These banks set up businesses in towns with buildings called branches. This is known as traditional banking (a.k.a. brick and mortar) and continues strong today. Some examples of traditional banks include but are not limited to: Bank of America, Bank One, and Wells Fargo. Online banks entered the market in the 1990s and are located solely on the Internet. Examples of online banks are: Netback, Virtual Bank, and Ever Bank. Both types of banks have their pros and cons, but many people are not aware of them.

1.2 Mergers and Acquisitions
The phrase mergers and acquisitions (abbreviated M&A) refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling and combining of different companies that can aid, finance, or help a growing company in a given industry grow rapidly without having to create another business entity. A merger is a tool used by companies for the purpose of expanding their operations often aiming at an increase of their long term profitability. There are 15 different types of actions that a company can take when deciding to move forward using M&A. Usually mergers occur in a consensual (occurring by mutual consent) setting where executives from the target company help those from the purchaser in a due diligence process to ensure that the deal is beneficial to both parties. Acquisitions can also happen through a hostile takeover by purchasing the majority of outstanding shares of a company in the open market against the wishes of the target's board. In the United States, business laws vary from state

Chapter 1: Introduction to state whereby some companies have limited protection against hostile takeovers. One form of protection against a hostile takeover is the shareholder rights plan, otherwise known as the "poison pill".

1.3 Change Management
If you work in a corporation or with a large organization, you might have heard the phrase "change management" used from time to time. Change management has been around for a while, but has become extremely popular with organizations or corporations that would like to initiate significant change to processes that can include both work tasks and culture. A common definition used for change management is a set of processes that is employed to ensure that significant changes are implemented in an orderly, controlled and systematic fashion to effect organizational change. One of the goals of change management is with regards to the human aspects of overcoming resistance to change in order for organizational members to buy into change and achieve the organization's goal of an orderly and effective transformation.

1.4 Role of Management in Organizational Change
In most cases, management's first responsibility is to identify processes or behaviors that are not proficient and come up with new behaviors, processes, etc that are more effective within an organization. Once changes are identified, it is important for managers to estimate the impact that they will have to the organization and individual employee on many levels including technology, employee behavior, work processes, etc. At this point management should assess the employee's reaction to an implemented change and try to understand the reaction to it. In many cases, change can be extremely beneficial with lots of positives; however certain changes do sometimes produce a tremendous amount of resistance. It is the job of management to help support workers through the process of these changes,

Chapter 1: Introduction which are at times very difficult. The end result is that management must help employees accept change and help them become well adjusted and effective once these changes have been implemented.

1.5 Structure of Report
The report is organized as follows. The report starts with the introduction of change and banking. In chapter 2, we present some basic concepts and introduction to UBL. In chapter 3, we discuss about the privatization process of the UBL with discussing the bid and process and the reasons to privatize. In chapter 4, we discuss about the management of UBL with discussing the board of directors. In chapter 5, the reconstruction of UBL is described with focusing on the three main phases. In chapter 6 the major services of UBL before and after take over are also discussed briefly. Chapter 7, conclude the work presented in the report and highlights the future work that needs to be done regarding the work presented here.

Chapter 2: Introduction to United Bank Limited

Chapter 2: INTRODUCTION TO UNITED BANK LIMITED

2.1 United Bank Limited
UBL is a Banking Company, which is engaged in Commercial & Retail Banking and related services domestically and overseas. United Bank Limited is the second largest private commercial bank in Pakistan with over 1000 branches and has an international presence in 10 countries. It is a growing bank with immense potential and prospects for employment in the offering. UBL is on the path rerouted for attaining excellence; to achieve our goals for more prosperity and to enhance our internal and external equity. They believe in setting the right goals for the right jobs and we strive to identify the right resources. UBL is known for redefining the career paths and growth prospects of all its employees. In order to ensure their success, we provide an affluent work environment, conducive and beneficial to the enrichment of their personal grooming and one that proves instrumental for the success of the Bank.

2.2 History of UBL
UBL was incorporated in 1959 by Mr. Agha Hassan Abedi as President and has been in operation since then. In 1974, the GoP nationalized the Bank and in 2002, the Bank was privatized with 51% of its shares sold to a consortium of Abu Dhabi Group, UAE and Bestway Group, U.K. The SBP holds 48.69% of the total share capital while the GoP holds 0.27% of the total share capital. As at December 31, 2006, the bank had 1,074 domestic and 22 international branches. UBL’s domestic network is divided into 10 regions.

Chapter 2: Introduction to United Bank Limited

2.3 Shareholding Structure
UBL was a nationalized bank between 1974 through 2002. However, in 2002, the Bank was privatized with 51% of its shares sold to the Abu Dhabi Group, UAE and the Bestway group, U.K. (the “Consortium”). Furthermore, SBP holds 48.69% of the total share capital while the remaining 0.34% stake is divided amongst the GoP, National Bank of Pakistan (“NBP”) - Trustee Department, State Life Insurance Corporation of Pakistan (“SLIC”), Sui Southern Gas Company Limited (“SSGC”), Investment Corporation of Pakistan (“ICP”), Metropolitan Steel Corporation, PC, Pakistan Reinsurance Company Limited (“PRCL”) and the SECP.  The Bestway Group (25.5%),  Abu Dhabi Group (25.5%),  the Government of Pakistan (44.8%)  General Public (4.2%)

2.4 The Abu Dhabi Group
Abu Dhabi Group is a group of Iraqi commercial business companies. AD Group was found in 1993 as Abu Dhabi co. and expanded to several commercial companies each specialized in a certain kind of business. AD Group has several offices, work shops and warehouses in Baghdad and other Governorates and by its long experience history, perfect management, professional staff and capabilities reach to successful achievements. AD has implemented many official and private business contracts in supplying materials or executing projects. AD Group has three companies outside Iraq, two are in UAE and the other is in Canada. The Abu-Dhabi Group consists of:  Abu Dhabi co. for wire and wireless communications. /Baghdad-Iraq.  Al-Najmy co. for Internet, Security, alarm and monitoring systems. /Baghdad-Iraq.

 Al-Breamy

co.

for

Chapter 2: Introduction to United Bank Limited Mechanical, petrochemical and Medical

trading./Baghdad-Iraq  Al-Baz co. for Broadcasting, Auditorium and voice systems./Baghdad-Iraq  AD Geophysical co. for geophysical services./Baghdad-Iraq  Euro wall co. for pre fabricated buildings and constructions./Baghdad-Iraq  Al-Jazeera Al-Arabia factory for steel wire fabrications./Baghdad-Iraq  IBL co. International Business Link L.L.C./ Dubai-UAE  Al-Omary Brothers co. for General Trading /Jebel Ali-Dubai-UAE  AD co. for general trading./Calgary-Canada

2.5 The Bestway Group
Bestway Group (BG) is a large privately owned conglomerate that covers, Cash & Carry wholesale, Cement manufacturing, Banking and Property.

Second largest cash & carry operator in UK with an 18% market

share with a turnover of £1.8 billion;

Second largest producer of cement with capacity of 6 million tones

per annum;

Second largest private bank in Pakistan with assets under

management of $9 billion;

Investment property portfolio of £80 million.

Companies  Bestway Cash & Carry  United Bank  Best-One - Retail Development  MAP Trading  Bestway Milling

Chapter 2: Introduction to United Bank Limited  Palmbest  Bestway Cement  Batleys

2.6 The Board of Directors
Name Designation

His Highness Shaikh Nahayan Mabarak Chairman Al Nahayan Sir Mohammed Anwar Pervez, OBE, Deputy Chairman HPK Mr. Atif R. Bokhari Mr. Omar Ziad Jaafar Al Askari Mr. Zameer Mohammed Choudrey Dr. Ashfaque Hasan Khan Mr. Muhammad Sami Saeed Mr. Aqeel Ahmed Nasir Mr. Aameer Karachiwalla President & CEO Director Director Director Director Company Secretary & Chief Legal SEVP/Group Chief Financial Officer

Chapter 3: Privatization of United Bank Limited

CHAPTER 3: PRIVATIZATION OF UNITED BANK LIMITED

3.1 Reasons for Privatization
The privatization of United Bank Limited is a cumbersome task, its position was not as bad as it appeared but, the bank was suffering a surplus staff of nearly eight thousand in its total strength of 22,500, whose future hang in uncertainty and might be sacked after privatization of the bank. The Privatization Commission (PC) is supposed to sell out 26% of the UBL shares shortly inviting a private sector share in the management of the bank. Credit Lyonnais, Financial advisers, selected for the task of dis-investing UBL have been asked to expedite the evaluation process. It is learnt that the World Bank has now suggested that the bank should be sold without compilation.

3.2 Bids & Process
Privatisation Commission had received 21 Expression of Interest for 51 per cent shares of UBL offered for sale. Of these parties, seven groups are from Middle East, four from UK, and two from US and eight from Pakistan. Those groups from Middle East which bid for UBL were ARY Traders (UAE) Abu Dhabi Group (UAE), Bank Dhofar Al-Oman AI-Fransi (SAOG) (Oman), Bank Muscat (SAOG) Oman, Dalil International (Bahrain) WLL (Bahrain), Jawed Textile Mills Co. (Bahrain) and Nasser Abdullah Hussain Lootah Group of Companies (UAE). Parties from USA were SB Technologies LLC and IFS Inc. While from UK, Ahmad and Nabi McMullan (Accountants and Tax Consultants) (London), Akhtar Group PLC, (London), Bestway (Holdings) Ltd, (London) and M.M. Sharif and Associates (London).

Chapter 3: Privatization of United Bank Limited The bidders from Pakistan included Aqeel Karim Dhedhi Securities (Pvt) Ltd., Central Insurance Co. Ltd. (Dawood Group Co.), Fauji Foundation (Pakistan), Amsterdam Trust Corporation (TC) (Netherlands), M. Abdullah and Associates, Institute of Overseas Pakistanis, Invest Capital Securities (Pvt) Ltd., MCB and Union Bank Ltd. Abu Dhabi Group has given a renewed offer of Rs.12.3 billion, slightly higher than MCB's improved bid of Rs.12 billion. Other two parties, Abu Dhabi Group, did not match either MCB's earlier offered bid of Rs.8.5 billion or the improved bid of Rs.12 billion. The MCB's improved bid is higher of PC's reserved price of Rs.11.8 billion.

3.3 The Controversial Sale
The sale of United Bank Limited has become controversial. The UBL can still fetch better price. The Privatisation Commission is taking hard lines and insisting to go by books, it is maintained. It is up to the Cabinet Committee on Privatisation (CCOP) to review the entire case and take decision accordingly. Fair deal can be assured by the CCOP. In the past such type of scandals had tarnished the image of the then governments. No doubt the MCB point of view appears to be more logical but the other parties should be heard and given a fair chance. UBL sale might be delayed a bit but the justice should prevail. The only option left for these remaining parties is the rebidding of UBL by Cabinet Committee on Privatisation (CCOP), which has the authority. According to the PC rules defined, the Board of Privatisation or CCOP may decide to call for rebidding, on promise that market conditions will improve. In case of rebidding all parties to be short-listed in the pre-bidding process, would be required to bid in an open bidding as earlier done in the case of UBL.

3.4 The Consortium
The Consortium of Abu Dhabi & Bestway Group on Thursday succeeded in acquiring majority shares of the United Bank Limited (UBL) by increasing their

Chapter 3: Privatization of United Bank Limited bid from Rs12.3 billion to Rs12.35 billion. The representatives of all the three prequalified bidders were present on the occasion. However, only Abu Dhabi group took part in the fresh bidding, and increased its bid to Rs12.35 billion. The Muslim Commercial Bank (MCB) group, which was the highest bidder in the previous bidding by giving an Rs 12 billion bid, did not opt for the fresh bidding. UBL is the 4th largest bank in Pakistan. It has a 9 per cent market with 1,101 branches across Pakistan as well as a valuable franchise of 16 international branches in the US, and the Middle East, with a subsidiary in Switzerland, rep offices in Egypt and Iran and a 55 per cent stake and management control in UKbased join venture with 7 branches and a 25 per cent stake in a joint venture in Oman.

Chapter 6: Conclusion and Future Work

CHAPTER 4: MANAGEMENT OF UNITED BANK LIMITED

4.1 Management of UBL
The management team comprises experienced banking professionals well positioned to meet UBL’s business objectives. Senior bankers have been inducted to head various divisions organized around core businesses, such as foreign trade, credit, structured finance and treasury activates. The Bank has also hired qualified middle and lower management personnel to create a team of professionals at all levels. The Bank’s affairs are governed by a Board of Directors, which currently consists of the President and Chief Executive Officer and seven Directors. The President and Chief Executive Officer have an overall responsibility for the strategic direction, government relations and to manage the portfolio of business and its functions.

4.2 Profiles of Directors
The profiles of the board of directors are as follows:

Chapter 6: Conclusion and Future Work

4.2.1 The President and CEO
Mr. Atif R. Bokhari was appointed as the new President & Chief Executive Officer of United Bank Limited in May 2004 replacing Mr. Amar Zafar Khan. In August 2000, Mr. Bokhari joined HBL as Executive Vice President, International Division and was responsible for development of business plans, risk and portfolio management of corporate clients and risk management and marketing of financial institutions both locally and globally. In September 2001, he was

Chapter 6: Conclusion and Future Work promoted to SEVP & Group Head, Corporate and Investment Banking, and a member of the HBL’s management committee. In this position he managed the largest Corporate and Investment Banking portfolio amongst all banks operating in Pakistan, and successfully established HBL as a leading bank in Corporate and Investment Banking area of Pakistan through a focused strategy and new initiatives. Mr. Atif Bokhari is an MBA (Economics & Finance) from Central Missouri University, USA. He started his career with ICI (Pakistan) in October 1983. Subsequently for 15 years he worked at the Bank of America rising to corporate /Credit Marketing Manager.

4.2.1 H.H. Shaikh Nahyan AL Nahyan HPK
His Highness Shaikh Nahayan Mabarak Al Nahayan is Chairman of the Board of Directors of the Bank since October 19, 2002. He was recently conferred the award of Hilal-e-Pakistan by the Government of Pakistan. He is a prominent member of the Royal Family of Abu Dhabi. He is Federal Minister of Education, UAE. In 2002, His Highness and other members of the Abu Dhabi Group acquired 25.5% majority shares and management control of the Bank, along with the Bestway Group, UK who also acquired 25.5% shares of the Bank. His Highness is also holding the following offices:

• Chairman, Union National Bank, UAE • Chairman, Warid Telecom (Pvt) Limited, Pakistan • Chairman, Abu Dhabi Group of Companies • Chancellor, UAE University, Al Ain, UAE • Chancellor, Sheikh Zayed University, UAE • Chancellor, Higher Colleges of Technology, Abu Dhabi • President, Society of Natural History and National Heritage, UAE

Chapter 6: Conclusion and Future Work

4.2.1 Mr. Mohammed Pervez OBE, HPK
Sir Mohammed Anwar Pervez, OBE, HPk is the Deputy Chairman of the Board of Directors of the Bank since October 19, 2002. He is Chairman of Bestway Group who acquired 25.5% majority shares and management control of the Bank along with the Abu Dhabi Group who also acquired 25.5% shares in 2002. Bestway Group is amongst the top 10 privately owned companies in UK. Its cash & carry operations are the second largest in UK with an annual turnover in excess of US$ 3.3 billion9. The group provides employment to about 5,000 people in UK. The group’s cement company is the fourth largest cement producer in Pakistan. Sir Anwar was awarded the Order of the British Empire (OBE) in 1992 by Her Majesty, Queen Elizabeth. A Knights Bachelor Honor was conferred on him in 1999. Hilal-e-Pakistan (HPK) was awarded to him by the Government of Pakistan in 2000. Sir Anwar is a trustee of Memorial Gates Trust, Crime stoppers and Duke of Edinburgh’s Award Scheme

Chapter 6: Conclusion and Future Work

CHAPTER 5: THE RECONSTRUCTION OF UNITED BANK LIMITED

5.1 UBL Perspective
The Central Bank took over – retired central banker appointed Chairman; he took on the militant unions but over the next 15 months had 4 different bank Presidents

As of year-end the bank had  Negative equity  Heavy & continuing operating losses due to  Overstaffing – 21,500 employees  Over branching – 1,701 branches  NPLs – 60 % of total loans

An international network (9 countries) incurring substantial losses and under pressure from all regulators. A lack of systems and controls across the board. Demoralized staff, declining deposits & market share.

5.2 The Objectives of Reform
Overall purpose was to reposition it after privatization. This was to be achieved in three phases.  Phase 1: Stem the bleeding  Phase 2: Create Key Building Blocks  Phase 3: Consolidate for growth

Chapter 6: Conclusion and Future Work

5.2.1 Stem the Bleeding
There was a need to have a strong board of directors from the private sector (CEO’s from major local & foreign companies). People focus was to be created in such a way that the new & old management can work easily in the new environments. Many new senior were also hired for expert and effective positions. Almost 33 key positions were changed. A need was created to identify key internal seniors, in order to retain the old positions. The basic purpose to create a change was to involve employees with them selves and then drive the change. A major change occurred in this phase was the downsizing of staff. The management identified excess of 8,000 employees out of existing 21,500 employees. The cut costs and signal intent was to change culture. The branches and zones were to be rationalized. The arrest rising NPLs (80,000 accounts in default). Start re-building overseas network was also brought into consideration. Development and communicate basic strategy with others was to be created with the identifying of external consultants to assist in development of strategic plan

5.2.2 Create Key Building Blocks
The second phase in the reconstruction of United Bank Limited was to create key building blocks. The following steps were taken in consideration for this phase:

 Data integrity / Timeliness (P&L, Balance Sheet)  Credit policies / controls / review / monitoring (previously all approvals with executive committee of Board)  Strengthen / revamp audit process (25% of new hires into audit)  Treasury – track and manage liquidity / positions  Human Resources – make performance driven

Chapter 6: Conclusion and Future Work  Facilitate recovery of bad debts – set up specialized remedial management units  Work on government to resolve public sector default cases to cut drag and signal support / commitment  Establish corporate bank structure for domestic network to limit flow of new NPLs, enhance image  Finalize / implement technology plan – PC based, hub driven regions)  Based on above progress (Phases 1 & 2) push for capital injection by government (zones /

5.2.3 Consolidate for Growth
The third phase in the reconstruction of United Bank Limited was to consolidate for growth. The following steps were taken in consideration for this phase:

 Essentially upgrade processes / consolidate for growth  Implement next downsizing stage – voluntary/non-officials  Build overseas franchises – develop strategies, staff up, clean out NPL’s, improve service / ability to lend  Deepen corporate banking effort & implement SME strategy, protect top consumer relationships  Extend automation to cover all key branches (150)  Drive down pay for performance message

Chapter 6: Conclusion and Future Work

CHAPTER 6: SERVICES OF UBL

6.1 Services of UBL before Takeover
Before the takeover of UBL the services offered by the bank were the usual services which were being offered by all the other national banks. Due to the fact that the bank was a national bank and there were many difficulties faced by the bank hence it did not focus on the growth of the bank in order to offer new services. The services being offered by the bank were as follows:

6.1.1 Deposits
      UBL Business Partner (Current Account) Rupee Transactional Account (RTA) UBL Basic Banking Account - BBA Regular Term Deposits Receipts Foreign Currency Savings Foreign Currency Term Deposits

6.1.2 Loans
   Home Loans Business Loans Zarai Loan

Chapter 6: Conclusion and Future Work

6.2 Services of UBL after Takeover
6.2.1 Deposits
UBL has taken progressive steps and has introduced innovative products and services to provide you a variety of banking and financing services.               UBL Business Partner (Current Account) Rupee Transactional Account (RTA) UBL Basic Banking Account - BBA UBL UniFlex Account UBL UniSaver Account UBL Profit COD Regular Term Deposits Receipts Foreign Currency Savings Foreign Currency Term Deposits Special Notice Deposits Receipts - SNDR Free Insurance Coverage for all UBL Account Holders Monthly Projected Rates Declared Profit Rates (July - December 2007) Unclaimed Deposit

Chapter 6: Conclusion and Future Work

6.2.2 Loans
UBL has taken progressive steps and has introduced innovative products and services to provide you a variety of banking and financing services.        UBL Credit Card UBL Money UBL Businessline UBL Cash line UBL Address UBL Drive UBL Pay Plus

6.2.3 Services
UBL has taken progressive steps and has introduced innovative products and services to provide you a variety of banking and financing services.      UBL net banking UBL e-statement Humrah UBL Wallet UBL Online (for corporate customers only)

6.2.4 NRP Services
UBL has taken progressive steps and has introduced innovative products and services to provide you a variety of banking and financing services.   Remittance Accounts Tezraftaar UBL NRP Direct

 

Investments

-

Chapter 6: Conclusion and Future Work UBL Funds Manager UBL net banking

Electronic Access -

CHAPTER 6: CONCLUSION AND FUTURE WORK

6.1 Conclusion
The Reconstruction of the United Bank Limited did brought many new lessons learnt throughout. The change in laws was the key. There were mainly some important aspects including the Consultants, Downsizing, Existing staff, New hires, On Reform, On Privatizations.

Can be transformed from dying dinosaurs to vibrant, lean,

competitive entities that can be privatized   Temptation to retain once fixed but privatization is critical Set realistic targets – start with more doable ones!

6.2 Future work
Banking is based on information technology. If one asks about the past of banking then it can be said that it doesn’t has any past without information technology, and the IT has rushed out just with in a few years, so, it can be said that it is inter-related with Information Technology. What ever will be the future of I T the same will be of banking? It means that in future it is going to become more advanced, secure and comfortable in future.

Chapter 6: Conclusion and Future Work Following is a quotation which can help us to imagine the future of banking.

“The children of today aren't going to go to bank branches,"
Chetan Mathur, president of Sage Information Consultants of Toronto, told the conference.

"They're not going to stand in line. They're comfortable using the Internet and they expect organizations like yours to have that presence."

In the future, the Web customers will be able to pay bills directly from their accounts and get stock trading confirmations. They'll also get messages from the bank, such as a warning that their mortgage is due in three months or an announcement that a new mutual fund has Work

The CBG department of UBL defines corporate banking in Pakistan. Amongst the local banks UBL CBG is the pioneer in providing innovative solutions to its diversified and satisfied customer base. UBL CBG is considered to be a major player in the financial market of Pakistan.

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