Pakistan Telecommunication Company Ltd. (PTCL) Group, the parent company of U Microfinance Bank (U Bank), has injected a significant capital investment of PKR 4 billion (equivalent to USD 15 million) into U Bank, to drive the growth of its Islamic Banking services and digital innovation initiatives. This strategic equity boost underscores the unwavering confidence that PTCL Group has in U Bank’s promising growth strategy, upward trajectory, and viable vision for its future.
This injection comes at a pivotal moment for U Bank as it prepares for its Year of Transformation in 2025 – a year dedicated to evolving, scaling up the business, and furthering its commitment to financial inclusion. U Bank’s transformational strategy encompasses initiating its operational conversion to Islamic Banking, catering to the growing demand for riba-free and Shari’ah-compliant financial solutions in the microfinance industry in Pakistan.
The bank also aims to significantly enhance its digital capabilities to position itself as one of the leaders in Pakistan’s digital microfinance banking space, providing innovative and customer-centric solutions. Strengthening its commitment to empower rural communities, small businesses, and SMEs, the bank will further facilitate access to tailored financial products and services in remote regions. Additionally, U Bank aims to collaborate with like-minded organizations to further its mission of financial inclusion and empowerment.
Mr. Mohamed Essa Al Taheri, President & CEO – U Bank, expressed his enthusiasm about the capital injection, stating, “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, PTCL & Ufone 4G, stated, “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. We are proud to support U Bank in this pivotal phase of its journey toward sustainable progress and innovation.”
PTCL Group has over the years provided capital injections of over PKR 13 billion (approximately USD 46 million) in U Bank, making the bank one of the strongest microfinance banks in terms of equity base in the country. With this fresh capital, U Bank aims to leverage the resources to set the stage for an impactful year ahead that will transform the face of the bank.
