Mobilink Bank has signed a sale and purchase agreement to acquire an 82.51% stake in Apna Microfinance Bank Limited. The deal would give Mobilink Bank control of the Pakistan Stock Exchange-listed lender. It requires legal and regulatory approvals, including clearance from the State Bank of Pakistan and the Competition Commission of Pakistan.
Mobilink Bank President and CEO Haaris M. Chaudhary and Apna Bank Chairman Muhammad Akram Shahid signed the agreement. Senior leaders from both banks and JazzWorld attended the signing. VEON, Mobilink Bank’s parent company, said it would disclose the purchase price and expected capital requirements after regulators grant approval.
What the deal means for Apna Bank customers
Mobilink Bank said Apna Bank customers would retain access to their accounts and services throughout the transaction. After completion, customers would gain access to Mobilink Bank’s wider nationwide network, Islamic banking products and digital financial services through JazzCash. The bank said the deal aims to protect depositors’ interests, maintain stakeholder confidence and give Apna Bank a stronger base for growth.
“Mobilink Bank has built strong digital capabilities, scale and customer reach over time,” Chaudhary said. He said teams from both banks would work closely to keep services running and help customers move to the larger institution.
“This agreement marks the beginning of an important new chapter for Apna Bank,” said Nazish Ali, the lender’s acting CEO. She said customers would gain access to stronger digital infrastructure and a wider range of financial services. She also named customers, depositors, employees and other stakeholders as priorities during the transition.
Mobilink Bank targets rural banking and small businesses
Apna Bank has an extensive branch network across Pakistan. Its loan portfolio focuses on agriculture and small businesses, including borrowers in rural communities with limited access to formal banking. Mobilink Bank said the proposed acquisition forms part of its “Growth with Purpose” strategy. The bank linked the deal to its goals of expanding financial inclusion and strengthening Pakistan’s banking sector.
Aamir Ibrahim, Mobilink Bank chairman and JazzWorld CEO, said the deal fits into a broader financial services business. He pointed to JazzCash’s reach in payments and to insurance offerings from JazzSure Insurance, formerly TPL Insurance, and FikrFree. He said insurance penetration in Pakistan remains low. Mobilink Bank extends the same effort into banking for agriculture and micro-enterprises, he added.
Ibrahim said the businesses complement one another. He described the goal as giving people access to financial tools “regardless of where they live or how they earn a living”. For Apna Bank customers, access to Mobilink Bank’s wider services depends on the deal clearing regulators and closing.
