U Microfinance Bank has acquired an additional Capital Injection of PKR 1 Billion as Tier 1 from its sponsors, a press statement has said.
It said that this new injection will enable the Bank to further capitalize on the growth opportunities available in Pakistani microfinance sector.
Given the overall economic landscape, competitive environment and the opportunity to serve a considerably large underserved population, this capital injection will provide the necessary growth impetus for the Bank to leverage on.
U Microfinance Bank aims to serve traditional and non-traditional customers through disruptive innovation, by building efficiencies through digitization, going to last mile via brick and mortar and by adding unique customers in to its customer base.
U Microfinance Bank stands at the forefront of fighting poverty in Pakistan through economic enablement of underserved Pakistanis and takes pride in delivering on the National Agenda of National Financial Inclusion Strategy 2020 by contributing to bringing 10 million unbanked customers in to Banking net.