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UBL employees get bonus after '95

RECORDER REPORT

KARACHI: The United Bank Limited has announced bonus for its employees first time after 1995.

The UBL management says that the reforms introduced in the bank in 1997, has started bearing fruit.

The press release issued by the UBL, gave credit to its President, Zubyr Soomro and induction of professionals for the better performance of the Bank.

"A very focused recovery drive helped in strengthening the liquidity position of the bank resulting in increased banking activities," said the press release.

"The increase in the foreign exchange deposits suggested the strong reputation UBL enjoys internationally," it added.

Despite a reduction in mark-up rates in April last year by two percent and a decreasing yield on government securities , the growth in the revenues from the new business, was significant.

It also noted improvement in non-performing loans.