PTCL Group Injects PKR 4 Billion into U Bank to Propel Islamic Banking and Digital Innovation

PTCL Group Injects PKR 4 Billion into U Bank to Propel Islamic Banking and Digital Innovation

Islamabad, PakistanPakistan Telecommunication Company Limited (PTCL) Group, the parent company of U Microfinance Bank (U Bank), has announced a significant equity injection of PKR 4 billion (USD 15 million) into U Bank. This strategic investment aims to accelerate the bank’s growth in Islamic Banking services and drive digital innovation, reinforcing PTCL Group’s unwavering confidence in U Bank’s ambitious growth strategy and future vision.

This latest capital boost comes as U Bank gears up for its “Year of Transformation” in 2025, a pivotal year dedicated to scaling its operations, transitioning to Islamic Banking, and enhancing financial inclusion in Pakistan. The transformational strategy includes initiating the bank’s operational conversion to Shari’ah-compliant services to cater to the growing demand for riba-free financial solutions in the microfinance industry.

U Bank also plans to leverage digital capabilities to establish itself as a leader in Pakistan’s digital microfinance banking sector. By focusing on innovative and customer-centric solutions, the bank aims to empower rural communities, small businesses, and SMEs, while expanding access to tailored financial products in remote areas. Furthermore, U Bank will seek partnerships with like-minded organizations to strengthen its mission of financial inclusion and empowerment.

Leadership Perspectives
Speaking about the development, Mr. Mohamed Essa Al Taheri, President and CEO of U Bank, expressed his optimism:

“This landmark investment by PTCL Group is a testament to their continued trust in U Bank’s potential and our commitment to transforming the microfinance landscape of Pakistan. 2025 is our Year of Transformation, and with this support, we are poised to leverage technology and create a lasting impact.”

Mr. Hatem Bamatraf, President and Group CEO of PTCL and Ufone 4G, also commented:

“At PTCL Group, we are committed to empowering initiatives that drive financial inclusion, innovation, and community uplift across Pakistan. This capital injection into U Bank underscores our unwavering belief in its transformative vision for 2025 and its potential to redefine the microfinance banking ecosystem. By enabling U Bank to expand its Islamic Banking services and enhance its digital capabilities, we are not just investing in a bank, but in the economic empowerment of underserved communities and the future of inclusive financial growth in the country.”

A History of Investment
Over the years, PTCL Group has provided more than PKR 13 billion (USD 46 million) in capital injections to U Bank, making it one of the strongest microfinance banks in terms of equity base in Pakistan. With this fresh funding, U Bank is well-positioned to execute its transformational agenda for 2025, setting the stage for significant growth and innovation in the microfinance sector.

This investment underscores PTCL Group’s dedication to fostering financial inclusion, community uplift, and sustainable economic development in Pakistan.

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