United Bank Limited (UBL) is a banking company incorporated in Pakistan and is engaged in commercial banking and related services. The bank's registered office and principal office are situated at UBL Building, Jinnah Avenue, Blue Area, Islamabad and at State Life Building No.1, I.I Chundrigar Road, Karachi respectively. UBL operates 1,350+ (as of July 31, 2016) branches inside Pakistan including 22 (December 31, 2013: 22) Islamic Banking branches and 1 (December 31, 2013:1) branch in Karachi Export Processing Zone. The Bank also operates 18 (December 31, 2013:18) branches outside Pakistan as at March 31, 2014. The Bank is a subsidiary of Bestway (Holdings) Limited which is incorporated in the United Kingdom. The Bank's ordinary shares are listed on all three stock exchanges in Pakistan. Its Global Depository Receipts (GDRs) are on the list of the UK Listing Authority and the London Stock Exchange Professional Securities Market. These GDRs are also eligible for trading on the International Order Book System of the London Stock Exchange. Further, the GDRs constitute an offering in the United States only to qualified institutional buyers in reliance on Rule 144A under the US Securities Act of 1933 and an offering outside the United States in reliance on Regulation.