Financial and Banking News


Japanese Pull Out of UBAN as Losses Mount

Five Japanese institutional shareholders have pulled out of UBAN International Ltd. the Hong Kong-based arm of the UBAF group, and their shares have been taken over by the Paris-based Union des Banques Arabes et Francaises (UBAF). UBAN was established in 1974 (originally as Uban-Arab Japanese Finance Ltd) as a joint venture between the original UBAF shareholders plus nine Arab banks on the one hand and...