Islamabad, February 23, 2026: The Competition Commission of Pakistan (CCP) has 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.
According to an official news release, the approval was granted pursuant to a Share Purchase Agreement signed as part of the federal government’s ongoing privatization process. Under the agreement, Eve Holdings will acquire 100 percent shareholding of FWBL from the Government of Pakistan along with existing institutional shareholders.
These shareholders include Habib Bank Limited, MCB Bank Limited, Allied Bank Limited, National Bank of Pakistan, and United Bank Limited. Upon completion of the transaction, Eve Holdings will assume full ownership and operational control of First Women Bank Limited.
Eve Holdings RSC Limited, a special purpose holding company incorporated in Abu Dhabi, currently has no presence in Pakistan’s banking or financial services market. In its competition assessment, the CCP noted that FWBL maintains a limited footprint in the broader commercial banking sector, and the acquiring entity does not operate in any relevant or related market in Pakistan.
As a result, the commission classified the transaction as a conglomerate merger, concluding that it does not raise competition concerns. The CCP further determined that the acquisition is unlikely to create or strengthen a dominant market position, substantially lessen competition, or adversely impact the market’s competitive structure.
Accordingly, the transaction has been authorized in line with the provisions of the Competition Act, 2010.
The acquisition underscores sustained foreign investor interest in Pakistan’s financial sector and highlights the importance of transparent privatization policies and effective competition regulation. Experts believe such transactions can help attract foreign direct investment (FDI), strengthen financial institutions, and support long-term economic growth in the country.