UAE’s IHC Takes Control of First Women Bank in G2G Deal

Core Insights - Abu Dhabi's International Holding Company (IHC) has acquired a majority stake in state-owned First Women Bank Ltd (FWBL) as part of Pakistan's first bank privatization under a government-to-government framework [1][2] - The investment signifies the strengthening economic ties between the UAE and Pakistan, aligning with IHC's strategy to develop resilient financial institutions [2][5] Company Overview - FWBL, established in 1989, operates as a full-service commercial bank with 42 branches across Pakistan, catering to retail, small business, and corporate clients [2] - IHC plans to ensure FWBL meets Pakistan's minimum capital requirements, enhance its balance sheet, and expand its operations post-acquisition [3] Strategic Plans - IHC intends to upgrade FWBL's core systems, automate processes, and integrate digital channels with analytics and artificial intelligence to improve service delivery [3] - A rebranding initiative is planned to broaden FWBL's mandate, focusing on financial inclusion and fostering a performance-driven culture [4] Market Context - IHC's investment reflects confidence in Pakistan's financial potential and aims to support the modernization of FWBL through technology [5] - As of recent filings, IHC is one of the largest listed investment firms in the Middle East, with a market capitalization of approximately 882 billion dirhams ($240 billion) [6]