IHC buys majority stake in Pakistan's First Women Bank

19/10/2025 03:48 AST

IHC, an Abu Dhabi-based investment company focused on building dynamic value networks, has announced the acquisition of a majority stake in the state-owned First Women Bank Limited (FWBL), based in Karachi, Pakistan.

Established in 1989, FWBL operates as a full-fledged commercial bank with a nationwide presence of 42 branches, offering a comprehensive range of retail, SME, and corporate banking services.

Announcing the strategic move, IHC said this landmark transaction marks the first privatisation of a bank in Pakistan under a G2G framework, underscoring the strong and growing economic partnership between the UAE and Pakistan.

IHC's investment in Pakistan's financial and banking sectors represents a significant milestone in its strategy to build and strengthen resilient financial institutions that support comprehensive growth strategies and enable the full expansion of business operations, it added.

The announcement was made in the presence of Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Chairman of 2PointZero, and Muhammad Shehbaz Sharif, Prime Minister of the Islamic Republic of Pakistan.

Following the acquisition, IHC said it will ensure that the bank meets the Minimum Capital Requirement (MCR), strengthening its capital base and enabling expansion of operations and its footprint across Pakistan.

On the key acquisition, CEO Syed Basar Shueb said the Abu Dhabi group's investment in First Women Bank Limited reflects its confidence in Pakistan's financial potential and the shared vision for long-term economic growth.

"We see strong potential in the country's financial sector and look forward to supporting the Bank's modernization journey by leveraging technology, automating banking processes, and advancing the use of AI in financial decision-making. This acquisition represents a shared commitment between the UAE and Pakistan to drive innovation, strengthen financial infrastructure, and deliver sustainable value creation," he added.

The acquisition follows the landmark joint venture signed in February 2025 by International Resources Holding (IRH), another IHC subsidiary, with the Government of Balochistan and local partners, further deepening UAE-Pakistan economic cooperation across key sectors.

Together, these strategic initiatives reaffirm IHC's long-term vision of fostering sustainable growth, advancing technology-driven transformation, and strengthening global economic connectivity.

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