The State Bank of Pakistan (SBP) has given Mobilink Microfinance Bank Ltd. the green light to begin due diligence on APNA Microfinance Bank Ltd., a formal step that could lead to a merger under the Banking Companies Ordinance, the lenders said in regulatory filings.
The State Bank of Pakistan (SBP) issued the approval in a letter dated Feb. 6, 2026, and APNA disclosed the development to the Pakistan Stock Exchange on Feb. 9 (ticker: AMBL). The SBP authorization permits Mobilink to conduct a two‑month due diligence (DD) exercise, roughly through April 6, provided the banks comply with applicable laws, rules and regulations.
The regulator set clear guardrails. Members of the DD team must sign confidentiality undertakings in line with SBP circulars; a copy of the signed agreement and the DD report must be submitted to SBP.
The central bank stressed that the DD approval does not amount to final sanction for any acquisition or merger. Any final approval will be assessed separately, on merit, and may require a satisfactory funding plan and additional conditions imposed by SBP.
The letter also explicitly forbids using depositors’ funds of either bank at any stage of the transaction and reserves SBP’s right to act if material information is misrepresented.
APNA said the process is at a preliminary stage and “does not have any immediate impact on the financial position or operations of the Company,” adding it will update the market if there are material developments.
What this means in practice is straightforward: Mobilink now has limited access to APNA’s books and operations to evaluate whether a merger is viable, but regulators retain tight control over any final deal terms and financing structure.
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