ISLAMABAD — The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of First Women Bank Limited (FWBL) by Eve Holdings RSC Limited under the Competition Act, 2010. The approval follows a Phase-I competition assessment of the Share Purchase Agreement executed as part of Pakistan’s privatisation process.
Eve Holdings RSC Limited, a special-purpose holding company incorporated in Abu Dhabi, will acquire 100% shareholding of FWBL from the Government of Pakistan and existing institutional investors. These include Habib Bank Limited, MCB Bank Limited, Allied Bank Limited, National Bank of Pakistan, and United Bank Limited.
As a result, Eve Holdings will assume full ownership and control of the public unlisted commercial bank upon completion of the transaction.
According to the CCP, First Women Bank maintains a limited footprint in Pakistan’s commercial banking sector. Meanwhile, Eve Holdings currently has no operations in the relevant or related banking markets within the country.
Therefore, the commission classified the deal as a conglomerate merger. After reviewing market dynamics, the regulator determined that the acquisition does not raise competition concerns.
The CCP further concluded that the transaction is unlikely to create or strengthen a dominant position, substantially reduce competition, or negatively affect the competitive structure of the market.
Consequently, the commission authorised the transaction in line with the provisions of the Competition Act, 2010.
In its statement, the CCP said the acquisition demonstrates sustained foreign investor interest in Pakistan’s financial sector. Moreover, it underscored the role of transparent privatisation and effective competition regulation in attracting foreign direct investment, strengthening financial institutions, and supporting broader economic growth.
