Khushhali Microfinance Bank’s Pre-tax Profit Increases Clocking in at Rs. 2.5 Billion
Khushhali Microfinance Bank Limited (KMBL) posted its financial results for the year 2017 on 14 February 2018 in Islamabad, posting appreciable growth in bottom line, accompanied with a dividend of Rs 0.53/share. KMBL’s pre-tax profit of PKR 2.49 billion increased by 40% against last year’s profit of PKR 1.78 billion. The increase in profit results from continued growth in balance sheet and improved non-fund income.
The Bank maintains the largest network of 173 outlets and enjoys the largest market share in terms of loan portfolio, deposits and asset base in the micro-finance sector. Compared to last year, portfolio quality indicators also improved, with growth in loan book of 40% primarily led by the agriculture sector lending. The Bank deposits expanded appreciably by over 100% as compared to last year and a strong built up was seen in urban operations.
KMBL is majority 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.