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.
Pakistanis living in over 50 countries, including the USA, UK, Canada and Australia, can now send money directly from their smartphones via WorldRemit to 190 plus U Microfinance Bank locations across 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
