First Women Bank
 | |
| Company type | Unlisted public company |
|---|---|
| Industry | Banking Capital Markets |
| Founded | December 2, 1989 |
| Headquarters | Karachi-75530, Pakistan |
Key people | Farrukh Iqbal Khan (CEO) |
| Products | Loans, credit cards, debit cards, savings, consumer banking, and bancassurance |
| Revenue |  Rs. 2.167 billion (US$7.5 million) (2023) |
| Rs. 457.354 million (US$1.6 million) (2023) | |
| Rs. 322.165 million (US$1.1 million) (2023) | |
| Total assets | Rs. 70.792 billion (US$250 million) (2023) |
| Total equity | Rs. 3.082 billion (US$11 million) (2023) |
| Owner | Ministry of Finance (82.64%) |
| Parent | Government of Pakistan |
| Website | fwbl |
| Footnotes / references Financials as of 31 December 2023[update] [1] | |
| ||
|---|---|---|
Elections Prime Minister of Pakistan
|
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First Women Bank Limited (FWBL) is a Pakistani state-owned commercial bank for women with headquarters in Karachi.[2]
History
[edit]The blueprint for infrastructure of the Bank was designed by Akram Khatoon. She presented it in 1988 to then Prime Minister Benazir Bhutto, who approved to set up the bank in December 1988.[3] The bank was incorporated with a paid up capital of PKR 100 million which was subscribed by the state-owned banks.[4][5] Its original charter mandated that the bank would employ women and extend small business loans exclusively to women.[5] he first branch of the bank was opened in Karachi in December 1989, and by 1991, it had 15 branches throughout the country.[5]
Ownership
[edit]The Government of Pakistan now owns majority shareholding in the bank. The remaining shares are held by the five big commercial banks – National Bank of Pakistan, Habib Bank Limited, Muslim Commercial Bank Limited, United Bank Limited and Allied Bank Limited.[4]
Privatisation
[edit]The Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatisation of First Women Bank Ltd.[6][7]
After a hiatus of several years, in February 2024, the Federal Cabinet of the Government of Pakistan finally approved the privatization of the First Women Bank.[8]
References
[edit]- ^ "First Women bank Annual Report 2023" (PDF). Retrieved 10 January 2025.
- ^ Qureshi, Zunairah (January 30, 2022). "Is the First Women Bank Limited too pink to fail? We hope so". Profit by Pakistan Today.
- ^ Bilquees, Faiz; Rauf, Shahnaz (1991). "The First Women Bank-Why and for Whom? [with Comments]". The Pakistan Development Review. 30 (4): 745–753. JSTOR 4125949498.
- ^ a b Ali, Meiryum (2020-03-23). "Can Naushaba Shahzad turn FWBL around before it is too late?". Profit by Pakistan Today. Retrieved 2020-09-11.
- ^ a b c Gargan, Edward A. (November 26, 1991). "Islamabad Journal; For Women, Finally, Credit Where Credit's Due". The New York Times.
- ^ Paracha, Shahzad (2020-08-21). "CCoP approves 7pc divestment in OGDC,10pc in PPL shares". Profit by Pakistan Today. Retrieved 2020-09-11.
- ^ "Govt to sell stakes in three firms". The Express Tribune. 2020-08-21. Retrieved 2020-09-11.
- ^ "Federal Cabinet approves restructuring of PIA, privatization of FWBL". Radio Pakistan. 2024-02-06. Retrieved 2024-03-07.
External links
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