Karachi: Monday, July 05, 2021: President & CEO of U Microfinance Bank Limited Mr. Kabeer Naqvi and President & CEO of Bank Alfalah Limited, Mr. Atif Bajwa, signed off a strategic partnership to promote financial inclusion in the country.
This new relationship not only strengthens the bond between both banks, but also promises to open up multiple avenues for collaboration, including medium to long term debt funding, credit structuring and synergizing their respective businesses to scale.
Speaking on the occasion Mr. Kabeer Naqvi, President & CEO of U Microfinance Bank said that we are delighted to establish this partnership with Bank Alfalah, which is aimed at exploring avenues to collaborate, design innovative products and work together in moving the banking sector forward. This alliance will help us serve more customers and bring more Pakistanis into the banking net.
Mr. Atif Bajwa, President & CEO of Bank Alfalah praised U Microfinance Bank as an emerging player and recognizable brand and commented that Bank Alfalah is always committed towards building strategic alliances with key market players. This partnership is in line with its vision and mission to seek new ways to enable its customers to shape their lives and businesses.
The ceremony was held in the head office of Bank Alfalah and was witnessed by the senior management of both institutions including Mr. Saad ur Rahman Khan – Group Head – Corporate, Investment Banking, Financial Institutions and International Business – Bank Alfalah and Ms. Mariam Pervaiz – Chief Commercial Officer & Chief of Staff – U Microfinance Bank.
About U Bank
Establishing itself as a pioneer within the industry; U Bank is the largest microfinance bank in terms of our network of 201 branches and 200 ATMs across 183 rural areas and cities in the country, providing a wide range of microfinance loans, digital & branchless banking solutions and deposit products. Moreover, U Bank in collaboration with Ufone under the name of UPaisa offers branchless banking services in over 45,000 designated agent locations all across Pakistan. This channel offers ease and convenience to customers in utilizing banking services.