U Microfinance Bank inaugurates its 200th Branch situated in Gilgitwith the commitment to take banking services to the last mile in Pakistan. ThePresident & CEO of U Microfinance Bank, Mr. Kabeer Naqvi along with the managementteam inaugurated the branch on 4th of October 2019.
Mr.Naqvi while speaking at the occasion said that “we arecommitted to expanding our footprint across Pakistan and growour network to serve the unbanked population of the country.
We strongly believe that access to microfinance services helps to build a more inclusive society and our financial services contribute in creating livelihoods for our customers. Our expanding geographical footprint is a testament to our commitment towards economic enablement of the unbanked population of Pakistan”.
Mr. Naqvi thanked U Microfinance bank’s shareholder and the board for their continuous support and trust.
He said that State Bank of Pakistan has played an instrumental part in helping us achieve this landmark by extending unparalleled support and guidance.
He further added that U Bank is immensely grateful to its customers for their confidence in U Bank’s brand. Lastly, Mr. Naqvi thanked U Bank’s employees for their hardwork and passion, who are at the heart of this organization.
U Microfinance bank is a wholly owned subsidiary of PTCL and currently operates in over 160 cities and the rural areas. It offers a wide range of microfinance loans and deposit products.
U Bank’s branchless banking arm – U Paisa,provides banking services at approximately 45,000 agent locations across Pakistan.U Microfinance Bank is undergoing a digital transformation and is getting ready to serve its customers through digitizing the loan process, provide 24 hour banking services through its own ATMs and offer internet & mobile banking services
While macro-level data points on the microfinance sector have been collected and reported regularly, there has been a dearth of micro-level, customer side data (publically available) in Pakistan.—PR