PTCL Group Appoints Tooran Asif as U Microfinance Bank’s New CEO

ISLAMABAD: PTCL Group, Pakistan’s leading ICT services provider, has announced the appointment of Tooran Asif as the new President & Chief Executive Officer (CEO) of U Microfinance Bank Limited (UBank). With over three decades of experience in digital and retail banking, Tooran Asif is set to lead UBank into a new era of growth and innovation.

Before joining UBank, Asif served as CEO of KT Bank Pakistan Limited, a digital bank in formation. His career also includes senior roles at Mashreq Bank UAE, where he headed Consumer Banking and drove digital transformation, and as CEO of Mashreq Al Islami, where he strengthened Islamic banking through enhanced services and digitalization. Asif’s global expertise spans leadership positions at Standard Chartered Bank, Citigroup, and ANZ Bank, with extensive experience across Asia, the Middle East, and the UK. He holds a degree in Electrical Engineering and an MBA from the Institute of Business Administration (IBA).

Hatem Bamatraf, Chairman of UBank’s Board of Directors, President, and Group CEO of PTCL & Ufone 4G, welcomed Asif, expressing optimism about his leadership. “We are thrilled to have Tooran Asif at the helm of U Microfinance Bank. His deep expertise in retail and digital banking, along with his dedication to financial inclusion, aligns seamlessly with UBank’s goal of empowering individuals and businesses in Pakistan. PTCL Group is fully committed to supporting UBank’s growth under his guidance,” Bamatraf said.

Asif’s appointment follows the tenure of Mohamed Essa Al Taheri, who served as Acting President & CEO during the transition. UBank expressed gratitude to Al Taheri for his leadership and contributions during this period.

As a subsidiary of PTCL Group, UBank continues to prioritize technology-driven financial solutions to empower Pakistan’s communities. Under Tooran Asif’s leadership, the bank will focus on expanding digital capabilities and enhancing financial access to foster sustainable economic growth across the country.