U Microfinance Bank inaugurated its 200th Branch situated in Gilgit, with the commitment to take banking services to the next level in Pakistan. The President and CEO of U Microfinance Bank, Mr. Kabeer Naqvi, along with the management team, inaugurated the branch on the 4th of October 2019.
While speaking at the occasion Mr.Naqvi said:
We are committed to expanding our footprint across Pakistan and grow our 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 to 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 shareholders and the board for their continuous support and trust. He said that the State Bank of Pakistan has played an instrumental role 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 its brand. Lastly, Mr. Naqvi thanked the employees for their hard work 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 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 ATMs and offering internet and mobile banking services.