Staff Reporter
Islamabad
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 UMB 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.This landmark transaction is the first and largest of its kind in the microfinance space of Pakistan in terms of the amount secured from multiple partner banks in form of a syndicate. No other player in the microfinance industry of Pakistan has achieved the distinction of having a syndicate facility worth US$ 259Mn in a single transaction in the last 20 years.
