Union Bank was established in 1991 and had its headquarters in Karachi

Karachi

Karachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...

, Sindh

Sindh

Sindh historically referred to as Ba'ab-ul-Islam , is one of the four provinces of Pakistan and historically is home to the Sindhi people. It is also locally known as the "Mehran". Though Muslims form the largest religious group in Sindh, a good number of Christians, Zoroastrians and Hindus can...

, Pakistan

Pakistan

Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...

. Prior to the merger with Standard Chartered Bank (see below), it was Pakistan's eighth largest bank and had 65 branches in some 22 cities, about US$2 billion in assets, and about 400,000 customers.

In 2006, Standard Chartered Bank

Standard Chartered Bank

Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...

 acquired 81% of Union Bank's shares for US$413 million. Under Pakistani law, it had to delist Union Bank and make an offer for the outstanding shares; the offer raised the total purchase price to about US$511. On 30 December 2006, Standard Chartered merged Union Bank with its own subsidiary in Pakistan, which has 46 branches in 10 cities. The merged bank is named Standard Chartered Bank (Pakistan) and is now Pakistan's sixth largest bank.

History

In 2000, Union Bank acquired Bank of America

Bank of America

Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...

's operations in Pakistan. Then in July 2001, Union Bank signed an Independent Operator agreement for American Express Cards in Pakistan. In 2002, Union Bank acquired the operations in Pakistan of Emirates Bank International. This purchase helped Union Bank become one of the larger private banks in the country.

Branches

The bank had branches in Faisalabad

Faisalabad

Faisalabad , formerly known as Lyallpur, is the third largest metropolis in Pakistan, the second largest in the province of Punjab after Lahore, and a major industrial center in the heart of Pakistan. Before the foundation of the city in 1880, the area was very thinly populated. The population has...

, Multan

Multan

Multan , is a city in the Punjab Province of Pakistan and capital of Multan District. It is located in the southern part of the province on the east bank of the Chenab River, more or less in the geographic centre of the country and about from Islamabad, from Lahore and from Karachi...

, Gujrat

Gujrat

Gujrat is a city in Pakistan. It is the capital of Gujrat District and the Gujrat Tehsil subdivision in the Punjab Province. People living in Gujrat refer to themselves as Gujratis, which sometimes leads to confusion with people from the Indian state of Gujarat which adjoins Pakistan...

, Peshawar

Peshawar

Peshawar is the capital of Khyber-Pakhtunkhwa and the administrative center and central economic hub for the Federally Administered Tribal Areas of Pakistan....

, Gujranwala

Gujranwala

Gujranwala is a industrial city in the north-east of the Punjab province. It is the sixth largest city in Pakistan with a population of approximately 2,661,360 as on 24 June 2011...

, Quetta

Quetta

is the largest city and the provincial capital of the Balochistan Province of Pakistan. Known as the "Fruit Garden of Pakistan" due to the diversity of its plant and animal wildlife, Quetta is home to the Hazarganji Chiltan National Park, which contains some of the rarest species of wildlife in the...

, Hyderabad, Rahim Yar Khan, Islamabad

Islamabad

Islamabad is the capital of Pakistan and the tenth largest city in the country. Located within the Islamabad Capital Territory , the population of the city has grown from 100,000 in 1951 to 1.7 million in 2011...

, Raiwind

Raiwind

Raiwind is a town in the Punjab province of Pakistan. It is part of the Nishter Town subdivision of Lahore District and is located at 31°15'16N 74°13'4E with an altitude of 203 metres and lies about 25 km from Lahore, the capital of the Punjab...

, Jhelum, Rawalpindi

Rawalpindi

Rawalpindi , locally known as Pindi, is a city in the Pothohar region of Pakistan near Pakistan's capital city of Islamabad, in the province of Punjab. Rawalpindi is the fourth largest city in Pakistan after Karachi, Lahore and Faisalabad...

, Karachi

Karachi

Karachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...

, Sahiwal

Sahiwal

Sahiwal is a city in Punjab, Pakistan. It is the administrative centre of Sahiwal District and Sahiwal Division. Sahiwal is approximately 180 km from the major city Lahore and is the city between Lahore and Multan...

, Lahore

Lahore

Lahore is the capital of the Pakistani province of Punjab and the second largest city in the country. With a rich and fabulous history dating back to over a thousand years ago, Lahore is no doubt Pakistan's cultural capital. One of the most densely populated cities in the world, Lahore remains a...

, Sargodha

Sargodha

Sargodha is a city in the Sargodha District of Punjab province, Pakistan.Sargodha is located in the northwest of Pakistan. It is the eleventh largest city of Pakistan and also known as Pakistan's best citrus-producing area. It is an agricultural trade centre with various industries...

, Mardan

Mardan

Mardan , known as The city of hospitality, is a city and headquarters of Mardan District in Khyber Pakhtunkhwa Province, Pakistan. It is the de facto headquarters of the Yousafzai tribe and the second most populous city in the province, located at 34°12'0N 72°1'60E and an altitude of in the south...

, Sialkot

Sialkot

Sialkot is a city in Pakistan situated in the north-east of the Punjab province at the foothills of snow-covered peaks of Kashmir near the Chenab river. It is the capital of Sialkot District. The city is about north-west of Lahore and only a few kilometers from Indian-controlled Jammu.The...

, Mirpur, Swat, and Vehari

Vehari

Vehari is a city in the Punjab province in Pakistan. The city, which is the capital of the district and tehsil of the same name, is located at 30°1'0N 72°21'0E at an altitude of 135m , lies about from the regional metropolis of Multan and about north of the river Sutlej - the southernmost of...

.