Mobilink Bank signs deal to buy 82.51pc of Apna Bank
The acquisition is subject to legal and regulatory approvals and no transaction amount was disclosed; Apna customers will move to Mobilink after completion.
Mobilink Bank has signed a sale-purchase agreement to acquire 82.51 per cent shareholding in Apna Microfinance Bank Ltd, with the transaction subject to legal and regulatory approvals.
Mobilink Bank President and Chief Executive Haaris M. Chaudhary and Apna Bank Chairman Muhammad Akram Shahid signed the agreement for their respective institutions on Thursday, Dawn reported. Neither bank disclosed the transaction amount.
Dawn reported that Apna Bank is listed on the Pakistan Stock Exchange. On completion, Apna Bank customers will become part of Mobilink Bank and will keep access to their accounts and services during the transition.
Business Recorder reported that the proposed acquisition extends Mobilink Bank's “Growth with Purpose” strategy, which the bank describes as responsible growth, financial inclusion and a stronger banking system. The report said the transaction is intended to safeguard Apna Bank depositors' interests, preserve stakeholder confidence and create a stronger institutional foundation for sustainable growth.
After completion, Apna Bank customers will join a larger institution with access to Mobilink Bank's nationwide presence, Islamic banking offerings and a digital financial services ecosystem powered by JazzCash, Business Recorder reported.
Aamir Ibrahim, chairman of Mobilink Bank and chief executive of JazzWorld, said the group had built a financial services ecosystem from JazzCash payments to JazzSure Insurance, formerly TPL Insurance, and FikrFree's insurance offerings, and now to Mobilink Bank's lending to agriculture and micro-enterprises. He said the businesses complement each other and that the aim is a Pakistan where every citizen, regardless of where they live or how they earn a living, has access to financial tools.
Haaris said Mobilink Bank had built “strong digital capabilities, scale and customer reach over time” and that its focus was continuity for Apna Bank customers and a seamless transition into a larger institution, according to Business Recorder.
ProPakistani reported the agreement and described Mobilink Bank as one of Pakistan's largest microfinance banks. Its report did not give the transaction amount.
How the reports differ
Dawn reported the signing from Karachi and was alone in naming Apna Bank chairman Muhammad Akram Shahid and identifying the target as PSX-listed. Business Recorder reported from Islamabad and led with the strategic rationale, carrying quotes from Aamir Ibrahim and Haaris M. Chaudhary and details of Islamic banking and JazzCash access. ProPakistani described Mobilink Bank as one of the country's largest microfinance banks and gave the stake size without the transaction amount.
Overseas Pakistanis send $3.9bn in October as remittances rise 13.8pc
State Bank data show July-October inflows of $14.8 billion, 14 per cent up on last year, with Saudi Arabia and the UAE supplying more than 45 per cent.
Transsion plans phone component manufacturing in Pakistan
Finance Minister Muhammad Aurangzeb met Transsion founder George Zhu as the Tecno and Infinix parent set out plans to move beyond assembly into parts.
Dar chairs austerity committee, calls for sustained follow-up on spending cuts
The Foreign Office says the committee reviewed progress on earlier decisions, and Dar separately ordered a restructuring roadmap for the national shipping corporation.
Army chief says Pakistan seeks long-term mineral investment
The prime minister told the same Islamabad forum that Pakistan would be among the world's major economies before 2050 and that Reko Diq is nearing its operational phase.
Aurangzeb seeks foreign buyers as sovereign Sukuk passes Rs10tr
Finance minister says issuance rose 113 percent to Rs4.4 trillion in 2026, with foreign investment in the Shariah-compliant paper still lagging T-bill and PIB inflows.
Supreme Court upholds Qaiser Ayub's death sentence in blasphemy case
The October 7 ruling is the first time the court has upheld a death sentence under Section 295-C, the ECLJ says; his brother Amoon was acquitted.
PTA bars licensed operators from supplying bandwidth to unlicensed providers
Regulator says LDI and FLL licensees may sell internet bandwidth, including configured packages, only to PTA-licensed operators, and points cable operators to the District Class Licence route.
Army says raids killed 74 militants in KP and Balochistan
The military says 43 were killed in Mir Ali and Orakzai districts over 10 days, and 31 in Balochistan operations since Nov 3.