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Khushhali Microfinance Bank 2018 Pre-Tax Profit Soars By 40pc


LAHORE: Khushhali Microfinance Bank Limited (KMBL) posted its

financial results for the year ended December 31, 2018 in Islamabad.
With a marked improvement in performance,KMBL maintained its upward
growth momentum in year 2018.The bank announceda pre-tax profitofPKR
3.5 billion, one of the highest reported profits in the industry, and
up by 40%against last year’s pre-tax profit of PKR 2.5 billion. This
rise can be attributed to growth in balance sheet supported by
continued increase in KMBL’s lending portfolio which went up by 34%
from last year. Portfolio quality indicators remain stable and the
bankis well capitalized with a capital adequacy ratio of 18.9%.

Building on its strong performance over the past five years,the Bank
has not only maintained but elevated its position in the microfinance
sector. KMBL is actively expanding into new urban and rural markets
effectively targeting its potential client segment and with 197
locations the Bank has one of the largest networksacross the
country.It enjoys a market leadership position with the highest number
of clients, loan portfolio, deposits, asset baseand profitability
amongst the microfinance banks.Agriculture sector remains the mainstay
of lending portfolio of KMBLowing to the opportunities available
within the largely unbanked segments of the market.The deposit book of
over PKR 56 billion alsoappreciated by 22% in comparison to 2017, and
the Bank proposed a dividend of PKR 1.50 per share.

In order to sustain and capitalize on growth opportunities in the
market, the Bank raised its capital through successful injection of
Tier II capital of PKR 1billion.The bank continues to invest in
technology up gradation to enhance its capability to offer Digital
Financial services to its customers.

Founded in the year 2000, Khushhali Microfinance Bank has come a long
way to fulfill its objectives of providing affordable financial
services to the poor. In acknowledgement of its outstanding
performance, KMBLreceived the “Best Microfinance Bank” award at the
third Pakistan Banking Awards 2018.The bank is owned by a consortium
of investors including one of Pakistan’s largest commercial banks
(UBL), and Blue Chip international investors with expertise in the
Micro, Small & Medium Enterprise finance.