United Bank Ltd launches new mortgage product in UAE
United Bank Ltd (UBL), a leading Pakistani bank with international operations, has launched in the UAE a mortgage product, Baitna, which will finance up to 80 per cent of the value of a property with a maximum home loan of Dh3 million for a 15 year period, according to Gulf News. The size of the UAE's mortgage market is estimated to have exceeded Dh3.5 billion in 2004 and Dh10.65 billion in 2005, according to Shuaa Capital Equity Research.
United Bank Limited is one of the largest commercial bank in Pakistan. Its assets amount to over Rs. 300 billion.