U Microfinance Bank Ltd. (U Bank) is a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) – Etisalat Company. The bank has a network of 75 touch points, across 70 cities and rural areas in Pakistan and offers a wide range of microfinance loans, deposit products and branchless banking solutions. U Bank’s branchless banking offers services under the banner of U Paisa in collaboration with Ufone (Pak Telecom Mobile Limited). The service is offered at nearly 45,000 agent locations across Pakistan.
U Microfinance Bank is proud to be at the front line of fighting poverty in Pakistan and is dedicated to play its critical part in the implementation of National Financial Inclusion Strategy 2020 that aims to bring 50% of Pakistan’s adult population in to banking net.
At U Microfinance Bank, we firmly believe that access to microfinance services contribute significantly towards building a more inclusive society leading to bringing underserved population in to banking net as well as help document the informal economy. Our product portfolio is designed to continuously create livelihoods for the underserved population of Pakistan and bring betterment to their lives.
Year 2016 has been the year of remarkable turnaround with exceptional performance. U Microfinance Bank’s loan customer portfolio grew from 22,254 customers in 2015 to 118,160 in 2016, 30% of our customers are women. Our customer deposits grew from PKR 1.1 billion to PKR 8.1 billion, while our loan portfolio grew from PKR 913 million to PKR 5.5 billion. Most significantly, our network grew from 38 touch points to 75 and our staff increased from 403 employees in 2015 to 939 in 2016.
Driven by the passion for disruptive innovation and the desire for financial inclusion, we aim to become the problem solver and enabler to Pakistani microfinance ecosystem.