{"id":954,"date":"2024-08-19T10:31:42","date_gmt":"2024-08-19T10:31:42","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=954"},"modified":"2025-01-08T02:42:20","modified_gmt":"2025-01-08T02:42:20","slug":"u-bank-and-fri-chicks-sign-mou","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=954","title":{"rendered":"U Bank and Fri-Chicks Sign MoU to Facilitate Existing Franchises & Future Expansion"},"content":{"rendered":"\r\n

Lahore, Pakistan<\/strong> \u2013 U Microfinance Bank<\/a>, a wholly-owned subsidiary of Pakistan Telecommunication Company Limited (PTCL), has announced a strategic partnership with Fri-Chicks<\/a>, one of the fastest-growing fast-food chains in Pakistan. This collaboration aims to facilitate the rapid expansion of Fri-Chicks\u2019 franchise network through the provision of working capital term loans, along with cash collection and management services for its existing outlets.<\/p>\r\n\r\n\r\n\r\n

Under this partnership, U Bank will support Fri-Chicks in launching 100 new franchises over the next year, complementing the brand\u2019s existing network of 50 outlets nationwide. This move underscores U Bank\u2019s commitment to fostering economic growth by empowering small and medium-sized enterprises (SMEs) in Pakistan.<\/p>\r\n\r\n\r\n\r\n

Empowering SMEs and Boosting Employment<\/strong><\/p>\r\n\r\n\r\n\r\n

The strategic partnership is poised to create significant employment opportunities across the country, further bolstering the local economy. Each new Fri-Chicks franchise is expected to generate close to 10 jobs, contributing to the creation of approximately 1,000 new employment opportunities nationwide. U Bank\u2019s financial support for this expansion reflects its dedication to nurturing local businesses and enabling their growth.<\/p>\r\n\r\n\r\n\r\n

Leadership Remarks<\/strong><\/p>\r\n\r\n\r\n\r\n

Speaking at the official signing ceremony held in Lahore, Mr. Sarmad Pretu, Chief Commercial Officer of U Bank, highlighted the alignment of this partnership with U Bank\u2019s broader vision. He stated, \u201cThis partnership with Fri-Chicks aligns perfectly with U Bank\u2019s vision of nurturing and supporting the growth of local businesses in Pakistan. The franchisees investing in Fri-Chicks are MSMEs, and each new franchise creates close to 10 new job opportunities. As a Pakistani bank, we are proud to be providing the financial solutions needed to help a local brand like Fri-Chicks reach new heights, while we endeavor to create a positive impact on the broader economy by enabling business expansion and economic elevation.\u201d<\/p>\r\n\r\n\r\n\r\n

Mr. Syed H. Mehdi, CEO of Fri-Chicks, expressed his enthusiasm for the partnership, noting its significance in achieving the brand\u2019s expansion goals. He commented, \u201cPartnering with U Bank marks a significant milestone for Fri-Chicks as we aim to bring our brand to more communities across the country. With U Bank\u2019s services, we are well-equipped to meet our expansion goals, allowing us to contribute more meaningfully to the economic landscape of Pakistan.\u201d<\/p>\r\n\r\n\r\n\r\n

A Growing Network<\/strong><\/p>\r\n\r\n\r\n\r\n

Fri-Chicks has been a staple in Pakistan’s fast-food industry for over 16 years, with its outlets spread across the country in various forms, including restaurants, kiosks, drive-thrus, takeaway setups, mobile trucks, and food court stalls. The brand’s partnership with U Bank is set to propel its growth trajectory, enabling it to reach new markets and expand its footprint significantly.<\/p>\r\n\r\n\r\n\r\n

U Bank, with a network of over 375 branches nationwide, continues to offer a comprehensive range of services, including branch and branchless banking, digital banking, corporate banking, and Islamic banking. This partnership with Fri-Chicks is another step in U Bank\u2019s mission to drive economic progress and support the development of Pakistan\u2019s SME sector.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Lahore, Pakistan – U Microfinance Bank, a wholly-owned subsidiary of Pakistan Telecommunication Company Limited (PTCL), has announced a strategic partnership with Fri-Chicks, one of the fastest-growing fast-food chains in Pakistan. This collaboration aims to facilitate the rapid expansion of Fri-Chicks’ franchise network through the provision of working capital term loans, along with cash collection and […]<\/p>\n","protected":false},"author":1,"featured_media":955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[2],"tags":[597,15,402,596,217,196],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t