First MicroFinance Bank (Pakistan)

First MicroFinance Bank Ltd, Pakistan[1] (FMFB-P)[2] is a Pakistan's third largest microfinance bank in terms of the value of savings, headquartered in Islamabad, Pakistan. FMFB operates over 150 branches located all over the country covering sixty-six districts. It is one of the oldest microfinance banks in Pakistan.[3][4] It's roots lies in the credit and saving programmes of the Agha Khan Rural Support Program.

For other banks with a similar name, see First Bank (disambiguation).
The First MicroFinanceBank
IndustryMicrofinance Banking
Founded2002 (2002)
Websitewww.fmfb.pk

History

FMFB was established in 2002.[2] FMFB-P was created through a structured transformation of the credit and savings section of the Aga Khan Rural Support Programme’s (AKRSP), an integrated development program to pioneer the microfinance sector in the country since 1982 in Gilgit-Baltistan and Chitral.[3][4]

Major Shareholding

In May 2016, Habib Bank Limited acquired a 51 percent majority stake in the bank.[3][5][6][7]

Major Shareholding[8]
Shareholding Percent Stake
Habib Bank Limited (HBL) 50.51%
Aga Khan Agency for Microfinance (AKAM) 29.71%
Aga Khan Rural Support Programme (AKRSP) 10.99%
Japan International Cooperation Agency (JICA) 8.79%

See also

References
  1. https://www.fmfb.pk/about-us/shareholders/
  2. https://www.fmfb.pk/about-us/about-fmfb-p/
  3. Reporter, The Newspaper's Staff (May 26, 2016). "Habib Bank acquires 51pc 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. https://www.fmfb.pk/about-us/shareholders/
  6. "HBL enters microfinance banking segment". The Express Tribune. 2016-05-26. Retrieved 2021-11-04.
  7. "HBL acquires 51pc shares in First MicroFinance Bank". www.thenews.com.pk. Retrieved 2021-11-04.
  8. "HBL eyes Silkbank after Fauji Foundation loses interest". Profit by Pakistan Today. 2021-04-08. Retrieved 2021-04-10.
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