Karachi: The Pakistan Telecommunication Company Limited (PTCL) announced on Friday that it is actively exploring potential investment opportunities in the country’s microfinance sector.
In a notice to the Pakistan Stock Exchange (PSX), PTCL stated, “The Board of Directors of Pakistan Telecommunication Company Limited (the ‘PTCL/Company’) has authorized the Company to explore potential investment opportunity in the Microfinance sector in Pakistan.” The notice further mentioned that any significant developments in this regard will be duly communicated to the PSX in compliance with applicable laws.
While the company has not disclosed the specific entity it is targeting for investment, it is worth noting that PTCL Group has previously expressed interest in acquiring Telenor Pakistan’s operations and management in totality. Though no official announcement has been made regarding PTCL Group’s interest in Telenor, insiders reported earlier this year that both parties were engaged in advanced talks.
Given PTCL’s interest in Telenor, it is possible that the company is also considering a potential investment in Easypaisa, which is a part of Telenor Microfinance Bank. Telenor Microfinance Bank is jointly owned by Telenor Group and Ant Group.
Apart from Telenor-related prospects, there is a likelihood that PTCL may consider Apna Microfinance Bank Limited (APNA) as another potential investment opportunity. Earlier this year, negotiations between APNA and FINCA Microfinance Bank Limited (FINCA) regarding a potential merger were unsuccessful. As a result, APNA expressed its intention to explore other opportunities to secure the interests of its stakeholders, depositors, borrowers, regulator, partners, and staff.
With PTCL Group already operating the U Microfinance Bank Ltd. (U Bank), which boasts a network of over 300 branches across 210 cities and rural areas in Pakistan, the company is well-positioned in the microfinance sector. U Bank offers a diverse range of microfinance loans, deposit products, and branchless banking solutions.
As PTCL ventures into exploring new investment possibilities, the company seeks to further strengthen its presence and impact in Pakistan’s dynamic microfinance landscape.
