UBL executes Rs20bn Interest Rate Swap with Engro

United Bank Limited (UBL) has successfully executed a PKR 20 billion Interest Rate Swap (IRS) transaction with a subsidiary of Engro, one of Pakistan’s leading conglomerates. This landmark deal further strengthens UBL’s position at the forefront of Pakistan’s developing derivatives and risk management market, following its historic PKR 75 billion IRS transaction earlier this year—the largest such transaction ever concluded in the country.

The latest transaction enables Engro to effectively hedge interest rate risk on its long-term local currency exposure, enhancing cash flow visibility and reinforcing its financial risk management framework. The deal reflects growing corporate confidence in sophisticated treasury solutions and signals continued momentum in Pakistan’s evolving financial landscape.

Speaking on the occasion, Abdul Samad Dawood, CEO of Engro Holdings Limited, said “Engro’s success has always been shaped by enduring partnerships with institutions that share our values and demonstrate a relentless pursuit of excellence. Our long-standing relationship with UBL is one such example, built on deep trust and proven performance across important milestones for Engro. This latest transaction enables us to better manage interest rate exposure and uphold the trust that our shareholders place in us through disciplined financial stewardship. UBL is a trusted partner in this journey, demonstrating how partnerships built on shared values create mutual success.”