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Press Center

U Microfinance Bank posted a Net Profit of 1.7 billion for the nine-months ended 30th September, 2023

December 5, 2023 – Islamabad: U Microfinance Bank Limited, Pakistan’s fastest-growing microfinance bank, has announced financial results for the nine months ended September 30th, 2023. The announcement was made during the Board of Directors’ meeting held in Islamabad on December 5th, 2023. read more


U Microfinance Bank Announces Continued Profitability in Latest Financial Results

December 1st, 2023 – Islamabad: U Microfinance Bank, Pakistan’s fastest-growing microfinance bank, has published its financial results for the half year ended 30th, June 2023, at its Board of Directors’ meeting held in Islamabad on November 30th, 2023. read more


Mr. Mohamed Essa Al Taheri joins U Microfinance Bank as Acting President & CEO

October 19th, 2023 – Islamabad: U Microfinance Bank is pleased to announce the appointment of Mr. Mohamed Essa Al Taheri as the Acting President & CEO of U Bank. We welcome him onboard!  read more


U Microfinance Bank Islamic Banking receives international recognition during the 8th Islamic Retail Banking Awards

Karachi – December 02, 2022: foodpanda, the country’s leading online delivery service provider, has entered into a strategic partnership with U Microfinance Bank (U Bank), Pakistan’s fastest-growing microfinance bank, to provide motorbike financing opportunities for its delivery riders. Through this partnership, foodpanda riders will have access to relevant financing facilities to acquire motorbikes on easy monthly installments.  read more


U Microfinance Bank partners with foodpanda to provide Motorbike financing opportunities to riders

Karachi – December 02, 2022: foodpanda, the country’s leading online delivery service provider, has entered into a strategic partnership with U Microfinance Bank (U Bank), Pakistan’s fastest-growing microfinance bank, to provide motorbike financing opportunities for its delivery riders. Through this partnership, foodpanda riders will have access to relevant financing facilities to acquire motorbikes on easy monthly installments.  read more


U Microfinance Bank and PQFTL sign BancaTakaful Agreement

Karachi – December 06, 2022: Pak-Qatar Family Takaful Limited and U Microfinance Bank (U Bank), Pakistan’s fastest-growing microfinance bank, have strategically signed a landmark BancaTakaful agreement. Under this collaboration, family Takaful products will be offered through U Bank’s distribution network, which is amongst the largest microfinance banking branch network in Pakistan.  read more


U Microfinance Bank and Sindh Enterprise Development Fund enter into Institutional Collaboration for Provision of Subsidized Credit to MSMEs in Sindh

Karachi – December 02, 2022: U Microfinance Bank (U Bank) and Sindh Enterprise Development Fund (SEDF) have formed an Institutional Collaboration to provide subsidized credit for Micro, Small & Medium Enterprises (MSMEs) in Sindh. The agreement aims to foster economic development through the provision of subsidized credit facilities for innovative projects in Sindh.  read more


U Microfinance Bank receives commercial license for extending nationwide Islamic Banking services

Islamabad – November 24, 2022: U Microfinance Bank (U Bank), Pakistan’s fastest-growing microfinance bank, has received the commercial license for launching full-scale Islamic Banking services across Pakistan.  read more


U Microfinance Bank, MMBL sign MoU to offer Housing Finance Solutions for their Employees

Islamabad – October 17, 2022: U Microfinance Bank Ltd. (U Bank), Pakistan’s fastest-growing microfinance bank, and  Mobilink Microfinance Bank Limited (MMBL), Pakistan’s largest digital bank, have entered into a strategic partnership for providing housing finance facility for their employees.  read more


U Microfinance Bank receives global recognition with three prestigious Asian Banking & Finance Awards, 2022

Islamabad – 29 August, 2022: U Microfinance Bank (U Bank), Pakistan’s fastest growing microfinance bank, has added another victory to its long list of achievements by bagging three internationally recognized awards by Asian Banking & Finance (ABF) Awards, 2022.  For its performance in 2021-2022, U Microfinance Bank has won the Asian Banking & Finance Wholesale Banking Award 2022 for Domestic Initiative of the Year – Pakistan, and the Asian Banking & Finance Retail Banking Award 2022 for Microfinance Bank of the Year – Pakistan (from the Domestic Retail Bank entry) and Islamic Banking Initiative of the Year – Pakistan.  read more


PACRA Upgrades Entity Ratings of U Microfinance Bank Limited

Islamabad, July 26, 2022: The ratings reflect the association of U Microfinance Bank Limited (U Bank) with Pakistan Telecommunication Company Limited (PTCL), the country’s leading Information and Communication Technology Service Provider. This affiliation supports the Bank in terms of building a strategic congruence alongside establishing robust systems and controls. U Bank is a fast-growing player in the Microfinance Sector.  read more | Report


PTCL & U Microfinance Bank announce successful conversion of U Bank’s Rs. 1,000M debt into equity

Islamabad, July 26, 2022: Pakistan Telecommunication Company Limited (PTCL), country’s largest ICT services provider and U Microfinance Bank Ltd. (U Bank), a wholly owned microfinance subsidiary of PTCL announced successful conversion of U Bank’s subordinated debt into equity, signed by both institutions for an amount of PKR 1,000 million during a ceremony held in Islamabad.  read more


U Microfinance Bank Limited: Successful closure of Additional Tier-1 Capital Instrument Term Finance Certificates (TFC) – PKR 1,000,000,000

U Microfinance Bank Limited is pleased to announce the successful closure of its Fully Paid up, Rated, Privately Placed / DSLR Listed, Unsecured, Subordinated, Perpetual and Non-Cumulative Debt Instrument Additional Tier 1 Capital TFCs of PKR 1,000,000,000. read more


U Microfinance Bank Enters into Strategic Partnership with National Bank of Pakistan for Promotion of Financial Inclusion in the Country

President & CEO U Microfinance Bank Limited (U Bank) Mr. Kabeer Naqvi and President & CEO National Bank of Pakistan (NBP) Mr. Arif Usmani signed Memorandum of Understanding (MOU) of strategic partnership between two organizations to promote financial inclusion in the country. read more


U Microfinance Bank Enters into Strategic Partnership with Allied Bank Limited and ABL Asset Management Company Limited

President & CEO U Microfinance Bank Limited (U Bank) Mr. Kabeer Naqvi, President & CEO Allied Bank Limited (ABL) Mr. Aizid Razzaq Gill and CEO ABL Asset Management Company Limited (ABL AMC) Mr. Alee Khalid Ghaznavi, signed Memorandum of Understandings (MOUs) of strategic partnership to promote financial inclusion in the country. read more


UBL partners with U Microfinance Bank Limited to promote financial inclusion in Pakistan

United Bank Limited (UBL) and U Microfinance Bank Limited (U Bank) recently signed a Memorandum of Understanding to promote financial inclusion in Pakistan and to open up multiple avenues for collaboration, including Medium to Long Term Debt Funding, Retail TFC, Islamic Microfinance Funding, Commercial Paper and synergizing their respective business to scale. The ceremony was held in UBL Head Office in Karachi. read more


U Microfinance Bank Signs Memorandum of Understanding with Pakistan Mortgage Refinance Company Limited for Affordable Housing Finance

Karachi: Tuesday, November 02, 2021

President & CEO of U Microfinance Bank Limited (U Bank) Mr. Kabeer Naqvi and Managing Director & CEO of Pakistan Mortgage Refinance Company Limited (PMRC), Mr. Mudassir H. Khan, signed Memorandum of Understanding (“MOU”) to support & promote affordable housing finance in the country. read more


Mandate Signing between U Microfinance Bank and JS Bank for ADT-1 Capital TFC

Karachi: Monday, November 01, 2021

President & CEO of U Microfinance Bank Limited (“U Bank”) Mr. Kabeer Naqvi and President & CEO of JS Bank Limited (“JSBL”) Mr. Basir Shamsie, signed the Mandate for raising Additional Tier-1 Capital.

This handshake will not only strengthen the relationship between two banks, but will also open up multiple avenues for collaboration, including medium to long term debt funding, credit structuring and synergizing their respective businesses to scale. read more


U Microfinance Bank Limited signs an agreement with Trellis Housing Finance Limited

Islamabad: Friday, November 05, 2021

U Microfinance Bank and Trellis Housing Finance Limited have collaborated to extend low cost housing facilities to the low income segment of Pakistani society. Under this arrangement U bank will be utilizing GharHo, Trellis’ proprietary and fully-digital mortgage origination platform, that will provide a digital and simplified application process to the customer for accelerated housing finance deployment & allow more families to have a home for themselves. Trellis will offer its platform services to U bank for both the Mera Pakistan Mera Ghar (The Government’s markup subsidy scheme (GMSS)) as well for U Bank’s own home financing product to qualified customers. read more


U Microfinance Bank collaborates with NdcTech and Temenos to accelerate digitalization and promote financial inclusion

U Microfinance Bank Ltd. (U Bank), a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) and the fastest growing Microfinance Bank in Pakistan has recently signed an agreement with NdcTech to implement Temenos Infinity Digital Banking Platform and Temenos Transact next-generation Core Banking Platform. read more


U Microfinance Bank wins Asian Banking & Finance (ABF) Retail Banking Award 2021 for Rural/Cooperative Bank of the Year – Pakistan

Islamabad: Monday, August 30, 2021

U Microfinance Bank Limited wins the ABF Retail Banking Award 2021 for “Rural/Cooperative Bank of the Year – Pakistan”. With a gross absence of banking facilities in rural areas, winning the Rural Bank of the Year award recognizes U Bank’s efforts in ensuring the availability of modern banking to our core customer group.read more


U Microfinance Bank & CDA join hands to plant the largest Miyawaki Forest in Islamabad

Islamabad: Friday, August 06, 2021

U Microfinance Bank in collaboration with the Capital Development Authority (CDA) led a tree plantation drive on 6th August, 2021 in I-8 Kachnar Park Islamabad. The plantation took place on approximately 1.5 acres of land and consisted of 6000 trees making it the largest Miyawaki Forest in Islamabad.read more


U Microfinance Bank Limited and Kashf Foundation Join Hands for Digitization of Loan Repayments and Disbursements

Lahore: Monday, July 12, 2021

U Microfinance Bank Limited and Kashf Foundation signed an agreement to digitize the loan repayments and disbursement. Through this collaboration, U Microfinance Bank will extend its channel services to Kashf Foundation for providing easy and secure loan collection and disbursements services through UPaisa Mobile wallets to its customers.read more


U Microfinance Bank and Bank Alfalah Announce a Strategic Partnership

Karachi July 05, 2021

President & CEO of U Microfinance Bank Limited Mr. Kabeer Naqvi and President & CEO of Bank Alfalah Limited, Mr. Atif Bajwa, signed off a strategic partnership to promote financial inclusion in the country.read more


U Microfinance Bank Ltd. (U Bank) wins ‘Fastest Growing Microfinance Bank in Pakistan’ at Global Business Outlook Awards, 2021

Islamabad May, 2021

During the Global Business Outlook Awards in May, 2021 U Microfinance Bank Ltd. (U Bank) was awarded Fastest Growing Microfinance Bank Pakistan. The Global Business Outlook Awards seek to recognise and reward excellence in businesses around the world. They are designed to facilitate the outstanding work of businesses and business leaders across industries, in terms of performance, innovation and drive to create industry value.read more


U Microfinance Bank Ltd. and It’s President & CEO wins Global Good Governance Awards, 2021

Islamabad, May 25, 2021

During the Global Good Governance – 3G Awards held on May 25, 2021 U Microfinance Bank Ltd. was awarded The 3G Creativity and Innovation Award and U Bank President & CEO Mr. Kabeer Naqvi won The 3G Best Emerging Leader in Corporate Sector Award.read more


VIS Upgrades Entity Ratings of U Microfinance Bank Limited

Karachi, April 29, 2021

VIS Credit Rating Company Limited (VIS) has upgraded the entity ratings of U Microfinance Bank Limited (UMBL) to ‘A+/A-1’ (Single A Plus/A-One) from ‘A/A-1’ (Single A /A-One). The medium to long-term rating of ‘A+’ denotes good credit quality coupled with adequate protection factors. Moreover, risk factors may vary with possible changes in the economy.read more


U Microfinance Bank and NADRA Technologies Limited shake hands to provide e-Sahulat services.

Islamabad, October 21, 2020:

U Microfinance Bank and NADRA Technologies Limited has collaborated to extend e-sahulat services at U Microfinance Bank branches. Through this partnership U Bank’s 200+ Branch network will be able to offer complete e-sahulat services that includes Bill payment, G2P payments, Money Transfer, Donation Collection, Fee Collection and Citizen Verification etc.read more


U Microfinance Bank Limited Awarded ABF Corporate & Investment Banking Awards 2020 for “Microfinance Syndication Deal of the Year – Pakistan”

Islamabad, September 01, 2020:

This year, U Microfinance Bank Ltd. (U Bank) was awarded the ABF Corporate & Investment Banking Award 2020 for“Microfinance Syndication Deal of the Year – Pakistan” category. The Syndicate Term loan was executed between U Microfinance Bank Ltd. and Allied Bank Limited in last week of December 2018, with drawdown in trenches, with the purpose of fueling business expansion and growth in loan portfolio.read more


U Microfinance Bank Limited Awarded Global Good Governance award for ‘Best Emerging Microfinance Bank 2020’

Islamabad, June 15, 2020:

U Microfinance Bank Ltd. (U Bank) was awarded the Best Emerging Microfinance Bank 2020 during the Global Good Governance – 3G Awards held on June 8, 2020. The Global Good Governance Awards are held annually to celebrate and acknowledge institutions and organizations around the world for their impact driven work carried out with social responsibility and good governance. read more


VIS maintains Ratings of U Microfinance Bank Limited with ‘Rating Watch-Developing’ status

Karachi, April 30, 2020:

VIS Credit Rating Company Limited (VIS) has maintained the entity ratings of U Microfinance Bank Limited (UMBL) at ‘A/A-1’ (Single A/A-One). The medium to long-term rating of ‘A’ denotes good credit quality, with adequate protection factors. Moreover, risk factors may vary with possible changes in the economy. The short-term rating of ‘A-1’ denotes high certainty of timely payment; liquidity factors are excellent and supported by good fundamental protection factors. The subordinated Tier 2 TFC rating has also been maintained ‘A-’ (Single A Minus). The medium to long-term rating of ‘A-’ denotes good credit quality coupled with adequate protection factors. Further, risk factors may vary with possible changes in the economy. The previous rating action was announced on April 30, 2019. read more


U Microfinance Bank inaugurates its Innovation Centre

Islamabad, March 05, 2020:

The launch signals U Bank’s renewed commitment to keep innovation at the heart of all its efforts and performing cutting-edge research to push the entire ecosystem forward. read more


U Microfinance Bank Wins Grant from Karandaaz for Financial Inclusion of Women

Islamabad, March 05, 2020:

U Microfinance Bank Ltd. signed a grant agreement with Karandaaz Pakistan, with funding from Bill & Melinda Gates Foundation. The grant will help U Bank further its mission of financially including more women. U Bank won the grant through a competitive application process via Karandaaz’s Digital Experiments program. read more


MoITT Dr. Khalid Maqbool Siddiqui visits U Microfinance Bank HQ.

Islamabad, November 13, 2019:

The Federal Minister for IT & Telecommunications Dr. Khalid Maqbool Siddiqui visited U Microfinance Bank Ltd. Head Quarters – ( a wholly owned subsidiary of PTCL – Etisalat)  in Islamabad.
read more


U Microfinance Bank celebrates 200th branch network landmark.

Islamabad, October 04, 2019:

U Microfinance Bank inaugurates its 200th Branch situated in Gilgit with the commitment to take banking services to the last mile in Pakistan. The President  & CEO of U Microfinance Bank, Mr. Kabeer Naqvi along with the management team inaugurated the branch on 4th of October 2019.
read more


U Microfinance Bank Limited partners with WorldRemit for instant money transfers to Pakistan

Islamabad & London, September 03, 2019:

Leading digital money transfer service WorldRemit has joined forces with U Microfinance Bank for online money transfers to Pakistan.

read more


U Microfinance Bank launches its first impact assessment and baseline study and shares new insights about their microfinance customers.

Islamabad, August 26, 2019:

Measurement & Baseline report today in an event hosted in Islamabad. The guests included executives from various microfinance, research and international institutions who all came together to discuss the challenges and opportunities in measuring social impact within the Pakistani microfinance sector. This first-of-its-kind report in the Pakistani ecosystem, is a concrete step forward by U Bank to gather and open-up more customer side data and insights and ensure better product and service design with the aim of improving the sectors social impact outcomes. read more


JCR-VIS has upgraded the short-term entity ratings of U Microfinance Bank Limited (UMBL) from ‘A-2’ (A-Two) to ‘A-1’ (A-One)

Karachi, January 11, 2019:

Karachi, January 11, 2019: JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the short-term entity ratings of U Microfinance Bank Limited (UMBL) from ‘A-2’ (A-Two) to ‘A-1’ (A-One). Long-term entity rating and subordinated Tier 2 TFC rating has been reaffirmed at A (Single A) and ‘A-’ (Single A Minus), respectively. Outlook on the assigned rating is ‘Stable’. The previous rating action was announced on April 27, 2018. read more


PTCL Injects Rs. 4 Billion in U Microfinance Bank to Implement Expansion Plans

Islamabad, Dec 31, 2018:

Pakistan Telecommunication Company Limited (PTCL) has signed an agreement for a PKR 4 Billion Unsecured Subordinated Debt Facility (Tier 2 capital) with U Microfinance Bank (U Bank), which is a wholly owned subsidiary of PTCL. This capital injection will enable the bank to further capitalize on the growth opportunities possible in Pakistan’s microfinance sector. read more


JCR-VIS Upgrades Ratings of U Microfinance Bank Limited

Karachi, April 27, 2018:

Karachi, April 27, 2018: JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the entity ratings of U Microfinance Bank Limited (UMBL) from ‘A-/A-2’ (Single A Minus/A-Two) to ‘A/A-2 (Single A/A-Two). Rating of the bank’s privately placed unsecured, subordinated, Tier 2 TFC has been finalized and upgraded to ‘A-’ (Single A Minus) from BBB+ (Triple B Plus). Outlook on the assigned rating is ‘Stable’. The previous rating action was announced on September 29, 2017. read more


PTCL Injects Rs. 1 Billion into U Bank

Islamabad: Tuesday, Jan 23, 2018

Pakistan Telecommunication Company Limited (PTCL) has injected an additional equity of PKR 1 billion in U Microfinance Bank Ltd. (U Bank), which is a wholly owned subsidiary of PTCL. This capital injection will enable the Bank to further capitalize on the growth opportunities possible in Pakistan’s microfinance sector. read more


U Bank Raises Rs. 600 Million for Seven Years through TFC

Karachi: Tuesday, July 4, 2017

U Microfinance Bank Limited (U Bank) — through its Lead Adviser and Arranger Pak Oman Investment Company — has raised Rs. 600 million in the form of Privately Placed Term Finance Certificates (PPTFC) from Banks, DFIs and Asset Management Companies. The PPTFC issue will contribute towards UBank’s Tier II capital. read more

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ABOUT U BANK

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 more than 250 branches, across 210 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 50,000 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...
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