CCP approves FWBL sale

The Competition Commission of Pakistan (CCP) on Monday approved the proposed acquisition of First Women Bank Limited (FWBL) by Abu Dhabi-based Eve Holdings RSC Limited, following a phase-I competition assessment conducted under the Competition Act, 2010.

The approval comes pursuant to a share purchase agreement executed as part of the federal government's privatisation process, a press statement said. Eve Holdings, a special purpose holding company incorporated in Abu Dhabi, would acquire 100% shareholding of FWBL from the government of Pakistan and existing institutional shareholders. These include Habib Bank Limited, MCB Bank, Allied Bank, National Bank of Pakistan and United Bank Limited. Upon completion of the transaction, Eve Holdings will assume full ownership and control of FWBL.

In its competition assessment, the CCP noted that FWBL maintained a limited footprint within the broader commercial banking market. The acquiring entity currently has no presence in the relevant or related market in Pakistan. As such, the transaction qualifies as a conglomerate merger and does not raise competition concerns.

The commission concluded that the proposed acquisition was unlikely to create or strengthen a dominant position, substantially lessen competition or adversely affect the competitive structure of the market. Accordingly, the transaction has been authorised in accordance with provisions of the Competition Act, 2010.

The acquisition reflects sustained foreign investor interest in Pakistan's financial sector and highlights the role of transparent privatisation and effective competition oversight in attracting foreign direct investment and supporting long-term economic growth.