Khushhali Bank will be setting up its branches across all districts of the country by the end of 2007 to enhance service outreach to the majority of poor households while maintaining financial sustainability.
The bank is striving hard to achieve institutional strength and establish distribution network of 100 service outlets in all districts of the country, said Khushhali Bank President, Ghalib Nishtar, while talking to APP here on Sunday.
He said that presently the bank is serving nearly half a million households.
He said, "Khushhali Bank is one of the top ten banks of Asia, who are providing loans to establish Small and Medium Enterprises (SMEs) on easy terms and conditions".
He said the bank, launched on August 6, 2000, with ADB financial assistance of $ 150 million, had attained institutional sustainability during its second phase from 2001-05. It has total assets of nearly $ 100 million, he added.
The bank has so far made disbursements of $ 91.6 million through its 133 service outlets to 344,358 clients in 75 nation wide districts, the bank president added.
Ghalib Nishtar said Khushhali Bank is the largest micro finance institution in the country and has been one of the fastest growing in Asia. This increased micro financing would help boost business activities in the country, he added.
He said the bank has a centralised processing and nation-wide network with an ability to acquire over 100,000 new clients annually.
The market response is overwhelming and the private sector recognised micro finance in Pakistan as viable business proposition and is investing $ 50 million by establishment of five micro finance institutions, he added.
The Khushhali Bank President said the bank was playing a critical role in bringing about a positive change in the lives of rural people, specially empowering women, as the access to finance helps them in contributing to family income.
Pakistan's proactive efforts towards achieving the milestone of making micro credit available to the majority of its masses are making a contribution to achieve this important goal within the strategic framework of country's Micro finance Development Strategy, he added.
He said Khushhali Bank, the first licensed micro finance institution in the country, achieved the distinction of becoming the largest micro finance service provider in the country in just over three years and one of the fastest growing amongst its peers globally.
He said, "Our experience has synthesised evidence, which leads us to believe that there is a large unmet demand at the grass-root oriented financial services sector".
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