KARACHI, Sept 19: The board of Union Bank, in a recently held meeting, has unanimously elected Dr Abdullah Basodan as its chairman, says a press release. Dr Basodan is the sponsor and major shareholder of Union Bank.

At the board meeting, he thanked the outgoing chairman Mueen Afzal for his contributions and affirmed continuation of corporate governance standards set by him. Dr Basodan subsequently addressed the Management Committee and the employees of Union Bank, along with the President and CEO Shaukat Tarin.

“It is a well capitalized bank, with sound business strategy and competent staff to stand tall amongst its peer banks,” said the newly-elected chairman and vowed to work “under the able and fully supported guidance of Shaukat Tarin.”