CCP Approves 100% Acquisition of First Women Bank by Abu Dhabi’s Eve Holdings. -

In a significant move for Pakistan’s financial landscape, the Competition Commission of Pakistan (CCP) officially approved the acquisition of First Women Bank Limited (FWBL) by the Abu Dhabi-based Eve Holdings RSC Limited on February 23, 2026. This transaction is part of the federal government’s broader privatization process, marking the first bank privatization conducted under the Inter-Governmental Commercial Transactions Act, 2022.

Acquisition and Ownership Details

Under the approved share purchase agreement, Eve Holdings RSC Limited—a subsidiary of the prominent UAE-based International Holding Company (IHC)—will acquire 100% shareholding of FWBL.

Stakeholders: The acquirer is purchasing shares from the Government of Pakistan and major institutional stakeholders, including Habib Bank Limited (HBL), MCB Bank Limited, Allied Bank Limited (ABL), National Bank of Pakistan (NBP), and United Bank Limited (UBL).
Control: Upon completion, Eve Holdings will assume full ownership and control of the bank.
Investment Commitment: IHC plans to inject Rs 6.8 billion over the next five years to meet the bank’s Minimum Capital Requirement (MCR) of Rs 10 billion.
Modernization: The new owners aim to transform FWBL into an AI-driven commercial bank, focusing on digitalization and automation while preserving its founding mission to support women entrepreneurs.

CCP Assessment and Market Impact

The CCP conducted a Phase-I competition assessment before granting authorization:

No Competition Concerns: The assessment concluded that the merger does not raise competition issues, as Eve Holdings currently has no presence in Pakistan’s banking market.
Market Position: FWBL maintains a limited footprint in the broader commercial banking sector, and the transaction is classified as a conglomerate merger.
Economic Signal: The CCP noted that this acquisition reflects sustained foreign investor interest in Pakistan’s financial sector and highlights the role of transparent privatization in attracting Foreign Direct Investment (FDI).

Disclaimer: This post is for informational purposes based on the official approval announcement by the Competition Commission of Pakistan. The final handover and operational changes remain subject to the completion of all legal and privatization formalities under the Competition Act, 2010.