U Microfinance Bank's 200th branch opens in Gilgit

ISLAMABAD - U Microfinance Bank inaugurated its 200th Branch in Gilgit with the commitment to take banking services to the last mile in Pakistan.

The President & CEO of U Microfinance Bank, Mr Kabeer Naqvi along with the management team opened the branch on Friday.

Mr Naqvi while speaking at the occasion 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," Naqvi added.

The CEO said the 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.

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.