UBL plans to open branch in India – Alfalah Securities Limited

Karachi, October 16, 2012 (PPI-OT): United Bank Ltd. (UBL) has contacted the Reserve Bank of India (RBI) and sought the details of statutory requirements required to start banking business in India.

According to Alfalah Securities Limited, the opening of UBL’s branch in India would initially add to cost of setting up a new business while it is likely to benefit the bank through increased market access to business opportunities. UBL trades at CY12E P/E of 5.0x at the current market price of PkR 75.56.