The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of First Women Bank Limited by Abu Dhabi-based Eve Holdings RSC Limited under a Share Purchase Agreement signed as part of Pakistan’s privatization process. The approval followed a Phase-I competition assessment conducted under the Competition Act, 2010.
Eve Holdings RSC Limited, a special purpose holding company incorporated in Abu Dhabi, will acquire the entire shareholding of First Women Bank Limited from the Government of Pakistan and existing institutional shareholders. These include Habib Bank Limited, MCB Bank Limited, Allied Bank Limited, National Bank of Pakistan, and United Bank Limited. Upon completion, Eve Holdings will assume full ownership and control of the bank.
CCP’s assessment found that First Women Bank has a limited footprint in Pakistan’s commercial banking market, while Eve Holdings currently has no operations in the relevant or related financial services sector. The transaction was therefore classified as a conglomerate merger that does not raise competition concerns.
The Commission concluded that the acquisition is unlikely to create or strengthen a dominant market position, substantially lessen competition, or adversely affect the competitive structure of the banking sector. Accordingly, the transaction has been authorized under the Competition Act, 2010.
Officials noted that the deal reflects sustained foreign investor interest in Pakistan’s financial sector and underscores the role of transparent privatization and effective competition regulation in attracting foreign direct investment, strengthening financial institutions, and supporting economic growth.
