Former American United Bank officers and directors were sued by the Federal Deposit Insurance Corporation for $45.2 million over their alleged negligence in managing the bank’s lending operations.
United Bank Ltd., Pakistan’s third- biggest lender by assets, said first-quarter profit rose 24 percent because of higher income from loans.
United Bank Ltd. , Pakistan’s third- largest by assets, said second-quarter profit rose 30 percent as provisions for bad debts declined.
United Bank for Africa Plc, a Nigerian lender with operations in 19 African countries, gained the first day in three after Punch newspaper reported shareholders approved a plan to become a financial services holding company.
The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.
Shares of India’s state-run banks are trading near record-low valuations as concern grows about narrowing risk buffers and rising bad loans.
United Bank for Africa Plc, a Nigerian lender with operations in 19 countries, fell to the weakest level since October 2003 on a selloff, Renaissance Capital said.
United Bank for Africa Plc, a Nigerian lender with operations in 19 countries, gained the most in seven weeks as investors bet its price decline has been overdone, PAC Securities Ltd. said.