Islamabad, U Microfinance Bank Limited, headquartered in Islamabad, has successfully launched its nationwide Branchless Banking Services (BBS) following the approval from the State Bank of Pakistan on July 11, 2013. The commercial operations for BBS commenced on July 23, 2013. According to information available from the Pakistan Stock Exchange (PSX), the Bank aims to stimulate economic progress and social peace by providing microcredits and income-generating opportunities to small entrepreneurs across various sectors, including livestock, housing, and solar financing, in line with the State Bank of Pakistan's product guidelines.
The Bank is a fully owned subsidiary of Pakistan Telecommunication Company Limited (PTCL), holding all issued ordinary and preference shares. It has also received significant financial backing from PTCL, amounting to Rs. 1,600,000,0000 for share issuance. The Pakistan Credit Rating Agency (PACRA) has reaffirmed the Bank's ratings as 'AAA' for medium to long-term and 'A1+' for short-term as of September 15, 2023.