{"id":35658,"date":"2026-08-06T03:35:58","date_gmt":"2026-08-06T03:35:58","guid":{"rendered":"https:\/\/gsrra.com\/?p=35658"},"modified":"2026-08-06T03:35:58","modified_gmt":"2026-08-06T03:35:58","slug":"secp-clears-rs1-5bn-capital-boost-for-pakistans-first-digital-retail-bank","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=35658","title":{"rendered":"SECP clears Rs1.5bn capital boost for Pakistan&#8217;s first digital retail bank"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/admin.mettisglobal.news\/images\/secp2.jpg_20260514075911877_9eae3d.jpeg?width=950&amp;height=450&amp;format=Webp\" alt=\"News Image\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/mettisglobal.news\/SECP-clears-Rs15bn-capital-boost-for-Pakistans-first-digital-retail-bank-62413\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/twitter.com\/intent\/tweet?url=https:\/\/mettisglobal.news\/SECP-clears-Rs15bn-capital-boost-for-Pakistans-first-digital-retail-bank-62413\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.linkedin.com\/sharing\/share-offsite\/?url=https:\/\/mettisglobal.news\/SECP-clears-Rs15bn-capital-boost-for-Pakistans-first-digital-retail-bank-62413\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/api.whatsapp.com\/send?text=Read%20More%20:%20https:\/\/mettisglobal.news\/SECP-clears-Rs15bn-capital-boost-for-Pakistans-first-digital-retail-bank-62413\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a>Pakistan&#8217;s first digital retail bank moved a step closer to commercial operations after the Securities and Exchange Commission of Pakistan (SECP) approved a Rs1.5bn increase in the paid-up capital of HugoBank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The fresh capital injection paves the way for HugoBank&#8217;s commercial launch. The bank has already secured in-principle approval from the State Bank of Pakistan (SBP) to establish a digital retail bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the SECP, HugoBank is being established by a consortium of Pakistani and Singaporean investors, with its sponsors set to invest $60mn.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The regulator said HugoBank&#8217;s entry is expected to enhance competition in Pakistan&#8217;s digital financial sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">HugoBank will provide branchless banking services through mobile and online platforms, while the expansion of digital banking is expected to offer consumers faster and lower-cost financial services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reference Link:- <a href=\"https:\/\/mettisglobal.news\/SECP-clears-Rs15bn-capital-boost-for-Pakistans-first-digital-retail-bank-62413\" target=\"_blank\" rel=\"noopener\">https:\/\/mettisglobal.news\/SECP-clears-Rs15bn-capital-boost-for-Pakistans-first-digital-retail-bank-62413<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan&#8217;s first digital retail bank moved a step closer to commercial operations after the Securities and Exchange Commission of Pakistan (SECP) approved a Rs1.5bn increase in the paid-up capital of HugoBank. The fresh capital injection paves the way for HugoBank&#8217;s commercial launch. The bank has already secured in-principle approval from the State Bank of Pakistan [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[23999],"tags":[25789,14965,5994,483,24665,12108,23836],"class_list":["post-35658","post","type-post","status-publish","format-aside","has-post-thumbnail","hentry","category-economic-trends","tag-digital-transactions-2","tag-digitalization-2","tag-modernization-3","tag-pakistan-2","tag-sci-tech-4","tag-secp-2","tag-upgradation-2","post_format-post-format-aside"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/35658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35658"}],"version-history":[{"count":1,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/35658\/revisions"}],"predecessor-version":[{"id":35659,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/35658\/revisions\/35659"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/media\/17884"}],"wp:attachment":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}