CCP clears UAE’s eve holdings to fully acquire First Women Bank

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

Under the deal, Eve Holdings will acquire the entire stake of FWBL from the Government of Pakistan and institutional shareholders, including Habib Bank Limited, MCB Bank Limited, Allied Bank Limited, National Bank of Pakistan, and United Bank Limited, taking full ownership and control of the commercial bank.

CCP’s assessment found that FWBL has a limited presence in Pakistan’s commercial banking sector, while Eve Holdings has no existing operations in the relevant or related markets. The commission concluded that the transaction is a conglomerate merger and is unlikely to create or strengthen a dominant position, reduce competition, or disrupt market structure.

The regulator confirmed that the transaction complies with the Competition Act, 2010, and poses no competition concerns.

CCP noted that the acquisition reflects ongoing foreign investor interest in Pakistan’s financial sector, and demonstrates the role of transparent privatisation and effective competition regulation in promoting investment, strengthening financial institutions, and supporting economic growth.