IT minister visits U Microfinance Bank headquarters

IT minister visits U Microfinance Bank headquarters

Federal Minister for Information Technology and Telecommunication Dr. Khalid Maqbool Siddiqui visited the U Microfinance Bank Ltd Headquarters here on Wednesday.

The CEO U Bank welcomed the Federal Minister for IT at U Bank headquarters. The minister chaired the briefing at the U Bank where CEO U Bank briefed him about the U Bank's operating infrastructure and its goals.

The Federal Minister was apprised that the bank had a network of over 200 branches and touch-points, across 160 cities and rural areas in Pakistan and offered a wide range of microfinance loans, deposit products and branchless banking solutions.

U Bank's branchless banking offers services under the banner of U Paisa in collaboration with Ufone (Pak Telecom Mobile Limited).

The CEO apprised that the U Bank had embarked upon the journey towards becoming a digital bank that was prepared to deliver value and services via technology, enabling it to potentially become one of the most accessible banks in the country.

The minister lauded the Bank management team for remarkable turn-around story of the U Bank, the PTCL owned subsidiary and discussed the government and bank's mutual agenda to achieve the greater social and financial inclusion in Pakistan.

The bank has a network of over 200 branches and touch-points, across 160 cities and rural areas in Pakistan and offers a wide range of microfinance loans, deposit products and branchless banking solutions.

The service is offered at more than 40,000 agent locations across Pakistan. Currently, U Bank serves more than 850,000 customers, where 22 percent of the served customers are women. The number of U Bank's employees also grew by 50 percent during the year crossing the 2000 mark, where 9 percent of the total workforce comprises of women. PR