ISLAMABAD – U Microfinance Bank has once again demonstrated its financial resilience and strategic growth by announcing its latest financial results.
The bank’s sustained profitability for the half-year ending June 30th, 2023, underscores its commitment to financial inclusion and economic empowerment across Pakistan.
U Microfinance Bank reported a remarkable revenue surge to PKR 21.5 Billion, marking a 133% increase compared to the same period last year.
This growth trajectory is further highlighted by the bank’s Profit After Tax, which reached PKR 1.4 Billion—a stark contrast to the restated loss of PKR 175 Million from the corresponding period of the previous year.
The bank’s success is bolstered by the unwavering support from its parent company PTCL has injected PKR 1.6 Billion to reinforce U Bank’s growth capabilities.
With over 350 branches nationwide offering many services including digital banking, Islamic banking, and corporate banking solutions to a diverse customer base.
U Bank’s financial strength and promising business strategy have been recognized by PACRA and VIS Credit Rating agencies U Bank is dedicated to creating a positive societal impact, as evidenced by its support for initiatives like the SOS Children’s Village.
The bank’s robust performance is indicative of the confidence it enjoys in the market, reflected in its Gross Loan Portfolio that stands at PKR 65.5 Billion. As U Microfinance Bank forges ahead, it remains steadfast in its mission to drive financial inclusion and contribute to the nation’s inclusive growth.
For more detailed information on U Microfinance Bank’s financial statements visit: https://ubank.com.pk/Downloads/FS-30June2023.pdf
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