Mobilink to acquire Apna Bank

Mobilink Bank has agreed to buy an 82.51 per cent stake in PSX-listed Apna Microfinance Bank, Dawn reported on November 13. The deal still requires legal and regulatory clearance, and neither party has revealed its value. The agreement was signed on Thursday by senior representatives of both banks.

If the transaction is completed, Apna Bank customers are expected to retain access to their accounts and services while the transfer takes place. Mobilink Bank said the acquisition would broaden its banking reach into agriculture and micro-enterprises, alongside its existing financial services businesses. Apna Bank’s acting chief executive said joining the larger institution could give customers access to wider services and digital infrastructure.