HBL Microfinance Bank

HBL Microfinance Bank Ltd, Pakistan (HBL MfB) is a Pakistan's second largest microfinance bank in terms of the value of savings, headquartered in Islamabad, Pakistan.[1][2]

For other banks with a similar name, see First Bank (disambiguation).
HBL Microfinance Bank (HBL MFB)
IndustryMicrofinance Banking
Founded2002 (2002)
HeadquartersIslamabad, Pakistan
ParentHabib Bank Limited
Websitewww.hblmfb.com

HBL MfB operates over 170 branches located all over the country covering sixty-six districts. It is one of the oldest microfinance banks in Pakistan.[3][4] Its roots lies in the credit and saving programmes of the Agha Khan Rural Support Program. The bank offers a suite of digital products for its customers.[5]

History

The HBL Microfinance Bank (HBL MfB), formerly The First MicroFinanceBank Ltd, Pakistan (FMFB-P), was established in 2002 as a nation-wide microfinance bank, licensed by the State Bank of Pakistan. HBL MfB (formerly FMFB-P) was created through a structured transformation of the credit and savings section of the Aga Khan Rural Support Programme (AKRSP), an integrated development programme to pioneer the microfinance sector in the country since 1982 in Gilgit-Baltistan and Chitral. HBL MfB (formerly FMFB-P) was established with the mission to respond to poverty and contributes to the social and economic well-being of society by providing opportunities to thousands of under-privileged households. Through targeted financial and multi-sectoral products and services based on the evolving needs of the poor, HBL MfB (formerly FMFB-P) enabled its clients to strengthen their entrepreneurial base and build financial, physical and human capital to secure their future. Currently, HBL has a majority share-holding of 71.43% in HBL MfB.

Major Shareholding

In May 2016, Habib Bank Limited acquired a 51 percent majority stake in the bank.[3][6][7][8]

Major Shareholding[9]
Shareholding Percent Stake
Habib Bank Limited (HBL) 71.43%
Aga Khan Agency for Microfinance (AKAM) 17.15%
Aga Khan Rural Support Programme (AKRSP) 6.34%
Japan International Cooperation Agency (JICA) 5.07%

References
  1. "Shareholders | HBL Microfinance Bank Ltd". Archived from the original on 2019-12-18.
  2. "About FMFB | HBL Microfinance Bank Ltd". Archived from the original on 2019-12-13.
  3. Reporter, The Newspaper's Staff (May 26, 2016). "Habib Bank acquires 71.43pc FMFB shares". DAWN.COM.
  4. Reporter, The Newspaper's Staff (2016-05-26). "Habib Bank acquires 51pc FMFB shares". DAWN.COM. Retrieved 2021-05-11.
  5. "HBL Microfinance Bank Ltd. Digital Channels". 14 Jan 2022.{{cite web}}: CS1 maint: url-status (link)
  6. "Shareholders | The First MicroFinanceBank Ltd". Archived from the original on 2019-12-18.
  7. "HBL enters microfinance banking segment". The Express Tribune. 2016-05-26. Retrieved 2021-11-04.
  8. "HBL acquires 51pc shares in First MicroFinance Bank". www.thenews.com.pk. Retrieved 2021-11-04.
  9. "HBL eyes Silkbank after Fauji Foundation loses interest". Profit by Pakistan Today. 2021-04-08. Retrieved 2021-04-10.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.