Islamabad, February 26, 2025: PTCL Group, the largest ICT services provider in Pakistan, is pleased to announce the appointment of seasoned banker, Tooran Asif as the new President & Chief Executive Officer (CEO) of U Microfinance Bank Limited (UBank). With a distinguished career spanning over three decades in digital and retail banking, Tooran Asif is poised to steer UBank into its next phase of growth and innovation.

Prior to joining UBank, Tooran Asif was serving as CEO for KT Bank Pakistan Limited (under formation digital bank). Previously, he was associated with Mashreq Bank UAE and held several senior appointments including Head of Consumer Banking, where he played a pivotal role in driving digital transformation of the consumer business. As CEO of Mashreq Al Islami, he built a robust Islamic business by enhancing the business proposition and digitalization of services. His career also includes senior leadership roles at globally renowned institutions such as Standard Chartered Bank, Citigroup and ANZ Bank where he honed his expertise in financial inclusion and business transformation. Mr. Asif brings several years of international experience across Asia, the Middle East, and the UK. He holds a degree in Electrical Engineering and an MBA from the Institute of Business Administration (IBA).

In his role as Chairman, Board of Directors, U Microfinance Bank and also President and Group CEO, PTCL & Ufone 4G, Hatem Bamatraf welcomed Tooran Asif aboard, expressing confidence in his ability to drive UBank forward. Hatem Bamatraf stated: “We are excited to welcome Tooran Asif as the new President & CEO of U Microfinance Bank Limited. His leadership in retail and digital banking, combined with his unwavering commitment to financial inclusion, aligns perfectly with UBank’s mission to empower individuals and businesses across Pakistan. We look forward to the remarkable milestones the bank will reach under his leadership. PTCL Group remains committed to supporting UBank’s continued growth and success.

His appointment follows the tenure of Mohamed Essa Al Taheri, who served as the Acting President & CEO during the transition period. UBank extends its heartfelt gratitude to Al Taheri for his leadership and invaluable contributions in steering the bank during this phase.

As a subsidiary of PTCL Group, UBank continues to advance its mission of empowering individuals and businesses through cutting-edge, technology-driven financial solutions. Under Tooran Asif’s leadership, the bank will focus on enhancing its digital capabilities and broadening financial access across Pakistan to drive sustainable growth and economic empowerment.