Habib Bank invests Rs6 billion in HBL Microfinance Bank

Habib Bank Limited, one of Pakistan's leading commercial banks, has recently approved an equity investment of Rs6 billion in its subsidiary, HBL Microfinance Bank Limited (HBL MfB). This decision was officially announced in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. The investment aims to strengthen the financial position of HBL MfB and support its operations across the country.

Formerly known as the First MicroFinanceBank Ltd, HBL Microfinance Bank Ltd holds the distinction of being the largest microfinance bank in Pakistan. With a network of over 200 branches nationwide, the bank has been serving communities since its establishment in 2002. Licensed by the State Bank of Pakistan, HBL MfB was established through a strategic transformation of the credit and savings division of the Aga Khan Rural Support Programme (AKRSP), a pioneering initiative in microfinance development since 1982 in Gilgit-Baltistan and Chitral.

This significant equity investment by Habib Bank Limited underscores its commitment to the microfinance sector and its confidence in the growth potential of HBL Microfinance Bank Limited. The infusion of funds is expected to further enhance the bank's outreach and impact, contributing to financial inclusion and economic empowerment in Pakistan.