Karachi-FINCA Microfinance Bank Limited (FINCA Pakistan) is taking initial steps to explore the viability of a merger with Apna Microfinance Bank Limited (Apna). Both banks share the ambition of alleviating poverty throughout the country. The two banks have signed a non-binding letter of intent in this regard and have been granted approval by the State Bank of Pakistan to start the due-diligence process.
The combined entity would be one of the largest microfinance institutions in Pakistan and empower FINCA Pakistan to expand its mission to bring poor entrepreneurs out of poverty through access to financial services and education.
“FINCA Pakistan is committed to enabling more low-income entrepreneurs to achieve financial health and invest in their futures and their communities,” said FINCA Pakistan’s CEO Jahanzeb Khan. “If a merger is realized, we will improve our ability to saturate both rural and urban areas with microfinance services and expand our focus on women and rural customers. We are excited to learn more about Apna.”
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FINCA Pakistan offers an experienced management team and staff, a strong brand reputation, digital financial services, and a commitment to following internationally recognized banking standards. FINCA Pakistan is the first microfinance bank in Pakistan to receive client protection certification under the Smart Certification standards in the country.
FINCA Pakistan is part of FINCA Impact Finance (FIF), an international network of 16 microfinance banks that share information, resources, and best practices in microfinance and financial inclusion. For close to 40 years, FINCA’s microfinance banks and institutions have empowered tens of millions of people to build their financial health.