CCP approves Abu Dhabi-based Eve Holdings’ acquisition of First Women Bank Limited

The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of First Women Bank Limited by Eve Holdings RSC Limited, following a Phase-I competition assessment under the Competition Act, 2010, and pursuant to a Share Purchase Agreement executed as part of the bank’s privatization process.

Eve Holdings RSC Limited, incorporated in Abu Dhabi as a special purpose holding company, will acquire the entire shareholding of First Women Bank Limited from the Government of Pakistan and existing institutional shareholders, including 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.

The CCP’s assessment noted that First Women Bank has a limited presence in Pakistan’s commercial banking market, while Eve Holdings does not currently operate in the relevant or related market. The transaction therefore qualifies as a conglomerate merger and does not raise competition concerns.

The Commission concluded that the acquisition is unlikely to create or strengthen a dominant position, substantially lessen competition, or adversely affect market structure, and has accordingly authorized the transaction under the Competition Act.

The deal underscores continued foreign investor interest in Pakistan’s financial sector and highlights the role of transparent privatization and effective competition regulation in promoting foreign direct investment, strengthening financial institutions, and supporting economic growth.