ADX-listed International Holding Company (IHC) acquired a majority stake in Karachi-based First Women Bank Limited (FWBL) as part of a government-run privatization process, it said in a bourse filing (pdf). The size of the transaction wasn’t disclosed.

FWBL will adopt a new name and identity, broadening its mandate beyond women-focused banking to promote financial inclusion across Pakistan. Founded in 1989, FWBL is a commercial lender with 42 branches nationwide, offering retail, SME, and corporate banking services.

What’s next: IHC will recapitalize the lender to meet the minimum capital requirement and strengthen its balance sheet for expansion post-transaction. The company plans to modernize FWBL’s core banking infrastructure, automate processes, and introduce AI-enabled analytics and digital channels to improve efficiency. The plan also includes investing in talent and capacity building.

SEPARATELY- IHC plans to deploy USD 36 bn every 18 months as part of a strategy to double its current USD 119 bn asset base over five years, the Financial Times reports.

IHC plans to get there by selling off 6-7% of its asset base every 18 months, freeing up around USD 10 bn, CEO Syed Basar Shueb said. The generated cashflow, coupled with debt, would make the USD 36 bn target possible, he added.

The moment is already there, as IHC has seen its asset base grow from USD 1 bn six years ago to USD 119 bn as of 1H 2025. The group is one of the largest firms globally in terms of total assets and has a market capitalization of USD 239 bn. Its portfolio of 1.5k subsidiaries spans sectors from mining, asset management, investment, construction, and food.

ICYMI- The plan follows news of a subsidiary restructuring, with IHC subsidiary Multiply Group securing approval to take full ownership of other IHC-linked firms, 2PointZero and Ghitha Holding. The three firms are set to be consolidated under Multiply to form a single entity and one of the emirate’s largest conglomerates, with AED 120 bn in assets across 85 countries.

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