United Bank Limited (UBL): United Bank Limited surrenders New York branch license to NYDFS – By Taurus Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">United Bank Limited (UBL) has informed the Bourse that it has surrendered its New York branch license to the New York State Department of Financial Services (NYDFS) on January 28, 2019.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The announcement follows the Bank's earlier announcement (November 22, 2018) of its intention to voluntarily liquidate its New York branch and surrender its license in the United States. The decision had been taken as part of the Bank's global realignment strategy and keeping in view the commercial viability of the operations there.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">From a business perspective, the UBL's NY branch was mainly invol...