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Zubyr Soomro's services extolled

RECORDER REPORT

KARACHI: The Board of Directors of United Bank unanimously acclaimed the performance and leadership of Zubyr Soomro as president of the bank.

They said that during this stewardship, from July 1997 to February 2000, he persistently led from the front and successfully steered the bank from losses bordering on bankruptcy to significant profitability in 1999.

Often operating in an environment that was often hostile Zubyr boldly and diligently pursued his mission of turning around the bank's fortunes. He rightly seized the situations and did not hesitate to take difficult decisions and brought about a significant change in the work culture of the bank.

The fruitful results of his initiatives are manifest in the visible improvements in all key-operating parameters of the bank. The most notable achievement is the change in the balance sheet of the bank, which showed a profit of Rs 1.4 billion in 1999 from a loss of Rs 3.7 billion in 1997.

The directors whilst recording their appreciation also extended their best wishes to Zubyr with his new responsibilities as Country Head of Citibank in Pakistan.

The board also welcomed the new President Amar Zafar Khan and offered their fullest support to him in his efforts to take UBL to even greater heights.