AIRLINK 60.84 Increased By ▲ 1.14 (1.91%)
BOP 6.32 Increased By ▲ 0.06 (0.96%)
CNERGY 4.32 Increased By ▲ 0.05 (1.17%)
DFML 15.91 Increased By ▲ 0.21 (1.34%)
DGKC 69.12 Decreased By ▼ -0.08 (-0.12%)
FCCL 18.11 Decreased By ▼ -0.24 (-1.31%)
FFBL 26.37 Decreased By ▼ -0.38 (-1.42%)
FFL 9.18 Decreased By ▼ -0.10 (-1.08%)
GGL 10.21 Decreased By ▼ -0.09 (-0.87%)
HBL 117.06 Increased By ▲ 1.16 (1%)
HUBC 114.31 Decreased By ▼ -0.09 (-0.08%)
HUMNL 6.87 Increased By ▲ 0.07 (1.03%)
KEL 4.87 Decreased By ▼ -0.02 (-0.41%)
KOSM 5.36 Increased By ▲ 0.71 (15.27%)
MLCF 38.50 Increased By ▲ 0.11 (0.29%)
OGDC 123.33 Decreased By ▼ -1.97 (-1.57%)
PAEL 21.78 Increased By ▲ 0.22 (1.02%)
PIAA 11.80 Increased By ▲ 0.93 (8.56%)
PIBTL 6.08 Increased By ▲ 0.06 (1%)
PPL 113.07 Decreased By ▼ -1.03 (-0.9%)
PRL 28.22 Increased By ▲ 0.32 (1.15%)
PTC 11.39 Increased By ▲ 0.49 (4.5%)
SEARL 51.91 Increased By ▲ 0.21 (0.41%)
SNGP 67.35 Decreased By ▼ -0.91 (-1.33%)
SSGC 11.29 Decreased By ▼ -0.13 (-1.14%)
TELE 7.78 Decreased By ▼ -0.02 (-0.26%)
TPLP 11.54 Decreased By ▼ -0.06 (-0.52%)
TRG 71.72 Decreased By ▼ -1.15 (-1.58%)
UNITY 23.04 Decreased By ▼ -0.51 (-2.17%)
WTL 1.29 Decreased By ▼ -0.01 (-0.77%)
BR100 6,717 Increased By 68.3 (1.03%)
BR30 22,517 Decreased By -52.7 (-0.23%)
KSE100 65,326 Increased By 747.2 (1.16%)
KSE30 22,146 Increased By 256.6 (1.17%)

KARACHI: U Microfinance Bank, Pakistan’s fastest-growing microfinance bank, has published its financial results for the half year ended 30th, June 2023, at its Board of Directors’ meeting held in Islamabad on November 30, 2023.

During the first half of 2023, the bank reported revenue of Rs21.5 billion with a growth of 133 percent as compared to the corresponding period of last year, and also announced a profit after tax of Rs1.4 billion with a growth of Rs1.6 billion as compared to corresponding period half-year loss (restated) of Rs175 million.

Being one of the leaders in the microfinance landscape in Pakistan, U Bank’s Gross Loan Portfolio stood at Rs65.5 billion, reflecting the high demand for its diverse portfolio of financial products and services catering to the banking needs of multiple population segments of Pakistan.

U Bank’s sustained growth and stability are proudly reaffirmed by the A+ long-term entity ratings with a ‘Stable’ outlook, as given to it by PACRA and VIS Credit Rating agencies in Pakistan. These ratings reflect U Bank’s promising business strategy and solid foundation ensuring reliability and financial strength.

In addition to its healthy banking performance, U Bank also continues to have strong confidence and unwavering support from its parent company, Pakistan Telecommunication Company Limited (PTCL) which has injected Rs1.6 billion into the bank, reinforcing its ability to uphold business growth.

U Bank continues on its journey towards its core mission of financial inclusion for all of Pakistan, with its extensive network of 350+ branches spanning rural and urban regions across the country, catering to customers of all socio-economic segments, and offering a diverse portfolio of deposit and loan products, including digital banking, Islamic banking, and corporate banking services. The bank remains steadfast in its commitment to creating a positive impact in the communities it serves, contributing to inclusive growth and economic empowerment in Pakistan.

Copyright Business Recorder, 2023

Comments

Comments are closed.

Muhammad zubair Dec 02, 2023 10:16am
Mujhe need hai paiso ki KIA meri help ho sakti hai
thumb_up Recommended (0)
Mohammed RIZWAN Dec 02, 2023 11:17pm
Kiya lon mil sakta ha
thumb_up Recommended (0)
Muhammad Shahbaz Dec 03, 2023 11:47am
Loan complain your staff not right
thumb_up Recommended (0)
Muhammad Shahbaz Dec 03, 2023 11:48am
Loan complain
thumb_up Recommended (0)
Mrs.Sheikh Dec 03, 2023 06:03pm
Sab bakwas likha hai bht hi jhoot bola jata hai Yahan aur sab customers ko bawaqoof banaya jata hai paisa bikul bhi save nahi is bank mai Kabeer Naqvi ka Jana ka baad ab diwaliya Nikal Chuka hai Jo yeh Bata nahi rahai sab ka paisa khatam ho ga yahan
thumb_up Recommended (0)
Abul Kalam Azad Dec 03, 2023 09:42pm
Good news.
thumb_up Recommended (0)
Arshad khan Dec 03, 2023 09:42pm
My problem is upaisa app bundle not activate Transaction limit have exhausted
thumb_up Recommended (0)
Abul Kalam Azad Dec 03, 2023 09:43pm
Grameen Microfinance Bank ia performing well.
thumb_up Recommended (0)
Sanabar Dec 04, 2023 02:18am
No doubt Ubank is a biggest company but it's unlikely retain the growth due to top management rotation...Without Kabeer Naqvi a Newly hired royal Man will fail it's sustainability..
thumb_up Recommended (0)
Noman Iqbal Dec 04, 2023 12:43pm
Yah Maine first time apply kar raha hun mujhe ₹100000 Tak ka loan chahie
thumb_up Recommended (0)
Shumaila Dec 05, 2023 05:50pm
Koi job hai to btaen
thumb_up Recommended (0)