Daily Times

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.”