Pakistan Telecommunication Company Limited (PTCL) Group has sanctioned a substantial Rs15 billion (approximately USD 53 million) capital infusion into its subsidiary, U Microfinance Bank Limited (U Bank), in one of the largest equity transactions recorded in the industry.
According to PTCL’s information on Friday, the investment is earmarked to underpin the bank’s sustained expansion and to advance the development of its digital platform, aiming to improve service delivery and broaden its customer reach across the nation.
Hatem Bamatraf, Chairman of U Microfinance Bank and Group Chief Executive Officer of PTCL Group, stated that the move reaffirms the group”s dedication to initiatives fostering financial inclusion, innovation, and socioeconomic progress in Pakistan. He highlighted that the capital allocation demonstrates a strong belief in U Bank”s digital transformation strategy and its capacity to enhance the microfinance ecosystem.
Tooran Asif, President and Chief Executive Officer of U Microfinance Bank, expressed appreciation for the backing from PTCL Group and the State Bank of Pakistan (SBP). He noted the funding arrives at a pivotal moment as the financial institution prepares to embark on the next stage of its digital evolution in 2026.
The bank’s transformation is centred on innovation and the rollout of new products and services designed to widen access to financial facilities for millions of customers nationwide.