DOCSLIB.ORG

Pakistan Microfinance Review 2013

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Pakistan Microfinance Review 2013 PAKISTAN MICROFINANCE REVIEW Annual Assessment of the Microfinance Industry 2013 FINANCIAL SERVICES FOR ALL Produced by: Pakistan Microfinance Network Art Direction: Sumaira Sagheer Design & Layout: Uzma Toor Photocredits: Retroactive Studios Library Printed at: Pangraphics © 2014 Pakistan Microfinance Network PAKISTAN MICROFINANCE REVIEW Annual Assessment of the Microfinance Industry FINANCIAL SERVICES FOR ALL EDITORIAL BOARD Mr. Ghalib Nishtar Chairperson Editorial Board President, Khushali Bank Mr. Syed Samar Hasnain Director, Agriculture Credit and Microfinance Department, State Bank of Pakistan Mr. Blain Stephens COO and Director of Analysis Microfinance Information eXchange, Inc. (MIX) Mr. Raza Khan Statistics & Results Adviser, Results & Evaluation Team- Economic Growth Group, Department for International Development (UK) Mr. Yasir Ashfaq Group Head, Financial Services Group, Pakistan Poverty Alleviation Fund Mr. Abrar Mir EVP and Group Head, Digital Money & Mobile Payments, United Bank Limited (UBL) Mr. Masood Safdar Gill Director Program, Urban Poverty Alleviation Program, National Rural Support Programme PMN TEAM Aban Haq Advisor Ali Basharat Author and Managing Editor Ammar Arshad Author and Data Compilation Zahra Khalid Author Aimen Shahid Author ACRONYMS AND ABBREVIATIONS AC & MFD Agriculture and Microfinance MFI Microfinance Institution Division MIS Management Information System ADB Asian Development Bank MO Micro-Options AMRDO Al-Mehran Rural Development NADRA National Database and Registration Organization Authority BPS Basis Points NGO Non-Governmental Organization CAR Capital Adequacy Ratio NFLP National Financial Literacy Program CIB Credit Information Bureau NMFB Network Microfinance Bank Limited CGAP Consultative Group to Assist the Poor NPLs Non-Performing Loans CNIC Computerized National Identity Card NRDP National Rural Development Program CPP Client Protection Principles NRSP National Rural Support Programme CPI Consumer Price Index OPD Organization for Participatory CPC Consumer Protection Code Development DFID Department for International OSS Operational Self Sifficiency Development, UK PAR Portfolio at Risk DPF Depositor’s Protection Fund PBA Pakistan Banks Association ECA Eastern and Central Europe PKR Pakistan Rupee EUR Euro PMN Pakistan Microfinance Network FIP Financial Inclusion Program PPAF Pakistan Poverty Alleviation Fund FMFB The First Microfinance Bank Ltd. PRISM Programme for Increasing Sustainable FSS Financial Self Sufficiency Microfinance FY Financial Year PRSP Punjab Rural Support Program GBP Great Britain Pound PTA Pakistan Telecom Authority GDP Gross Domestic Product ROA Return on Assets GLP Gross Loan Portfolio ROE Return on Equity GNI Gross National Income RSP Rural Support Programme GoP Government of Pakistan SBI Shore Bank International IAFSF Improving Access to Financial Services SBP State Bank of Pakistan Support Fund SC The Smart Campaign IFAD International Fund for Agricultural SDS SAATH Development Society Development SECP Securities and Exchange Commission of IFC International Finance Corporation Pakistan JIWS Jinnah Welfare Society SPTF Social Performance Task Force KBL Khushhali Bank Ltd. SME Small and Medium Enterprise KF Kashf Foundation SRSO Sindh Rural Support Organization KIBOR Karachi Inter-Bank Offering Rate SRDO Shadab Rural Development Organization KMFBL Kashf Microfinance Bank Ltd. SVDP Soon Valley Development Program KP Khyber Pakhtunkhwa TMFB Tameer Microfinance Bank Ltd MCGF Microfinance Credit Guarantee Facility UBL United Bank Limited MCR Minimum Capital Requirement USD United Sate Dollar MENA Middle East and North Africa USSPM Universal Standards for Social MFB Microfinance Bank Performance Management MFCG Microfinance Consultative Group VDO Village Development Organization MF-CIB Microfinance Credit Information Bureau WPI Wholesale Price Index MFP Microfinance Providers HIGHLIGHTS YEAR 2009 2010 2011 2012 2013 Active Borrowers (in millions) 1.4 1.6 1.7 2. 0 2.4 Gross Loan Portfolio (PKR billions) 16.8 PKR 20.2 PKR 24.8 PKR 33.1 PKR 46.6 Active Women Borrowers (in millions) 0.6 0.8 0.9 1.3 1.4 Branches 1,221 1,405 1,550 1,460 1,606 Total Staff 11,557 12,005 14,202 14,648 17,456 Total Assets (PKR billions) 30.4 35.8 48.6 61.9 81.5 Deposits (PKR billions) 7.2 10.1 13.9 20.8 32.9 Total Debt (PKR billions) 23.2 27.5 38.3 24.9 26.9 Total Revenue (PKR billions) 6.4 7.5 10.1 12.5 17.3 OSS (percentage) 104.6 99.7 108.4 109.5 118.1 FSS (percentage) 86.8 81.7 100.5 107.5 116.5 PAR > 30 (percentage) 3.4 4.1 3.2 3.7 2.5 CONTENTS SECTION 1: THE YEAR IN REVIEW 1.1. Macro-economy and the Microfinance Industry .........................10 1.2. Policy and Regulatory Environment ....................................12 1.3. Microfinance Industry Initiatives ......................................14 1.4. Conclusion ...........................................................20 SECTION 2: INDUSTRY PERFORMANCE 2.1. Industry Overview ...................................................25 2.2. Scale and Outreach ...................................................26 2.3. Financial Structure ...................................................34 2.4. Funding Profile .......................................................36 2.5. Profitability and Sustainability ........................................37 2.6. Efficiency and Productivity ...........................................40 2.7. Risk Analysis .........................................................42 2.8. Conclusion ...........................................................43 SECTION 3: THE WAY FORWARD 3.1. Challenges ...........................................................46 3.2. Opportunities ........................................................50 ANNEXURES Annexure A-1: Performance Indicators-Industry Aggregate (2007-2011) ....56 Annexure A-2: Performance Indicators-Individual Institutions and Peer Groups (2012) ....................................64 Annexure B: Regional Benchmarks 2010 .................................94 Annexure C: Sources of Data 2012 ......................................96 Annexure D: Adjustments to Financial Data ..............................106 Annexure E: Terms and Definitions .....................................108 SECTION 1 The Year in Review SECTION 1 THE YEAR IN REVIEW In the year 2013, microfinance industry in Pakistan witnessed another year of continued growth and expansion. The industry posted consistent increase in not only credit outreach and gross loan portfolio but also in micro-savings. Growth in Pakistan’s economy remained modest due to persistent energy shortages and security challenges. Some macroeconomic indicators turned relatively favorable such as inflation, which eased up to remain in single digits. Importantly, the year saw a smooth political transition in the country with one elected government transferring power to another. This not only kept the economy in general and the microfinance industry in particular safe from adverse A very important effects that could have resulted from a problematic political transition, but also buoyed investor highlight of the confidence in the country. year was the On the regulatory side micro-insurance regulations were launched by the Securities and Exchange Commission of Pakistan (SECP) in an effort to provide a framework for micro-insurance emergence of operations in Pakistan but also promote further development of this sector. leading MFPs Investors continued to show interest in the microfinance industry in Pakistan, leading to which can now another acquisition of a microfinance bank (MFB) by an international entity and importantly be clearly distin- placement of funds in an MFP by an international lender. MF-CIB -a key development for microfinance in the country - was rolled out nationally and opened for enquiries. A number of guished among new responsible finance initiatives were launched including Transparent Pricing Initiative in their peers. collaboration with Microfinance Transparency. A very important highlight of the year was the emergence of leading MFPs which can now be clearly distinguished among their peers. These MFPs can be distinguished by their market share, financial strength, profitability, experience curve and mature business models. MACRO-ECONOMY AND MICROFINANCE INDUSTRY Pakistan’s economy grew by 3.6 percent in 2013 as compared to 4.4 percent in the previous financial year. The economic outcome was below the target of 4.0 percent for the year. Although industrial sector showed recovery but it could not compensate for slower growth in the services and agriculture sector1. Despite the modest growth in the economy the microfinance industry in Pakistan grew by 20 percent in terms of outreach while GLP grew by 36 percent to close at PKR 52 billion2. This relationship is consistent with findings of a study conducted in 2008 which showed that GDP growth rate does not have any relation with the performance of microfinance providers. MFPs can perform well in terms of profitability, operational self-sufficiency and portfolio quality even in economic downturns and periods of slow economic growth.3 The investment rate, which has been already low in Pakistan, declined further in 2013. The investment to GDP ratio declined to 14.2 percent from 14.4 percent in the previous year as shown in the Exhibit 1.14. Persistent macro imbalances, structural bottleneck in the energy sector, and an uncertain security environment continue to impede investment. On the contrary microfinance industry continued to attract foreign investment
Load more

Recommended publications
  • Finca Bank Georgia Joint Stock Company
    FINCA BANK GEORGIA JOINT STOCK COMPANY Financial Statements and Management Report Independent Auditor’s Report For the Year Ended December 31, 2019 FINCA Bank Georgia Joint Stock Company Table of Contents Page STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE FINANCIAL STATEMENTS AND MANAGEMENT REPORT FOR THE YEAR ENDED DECEMBER 31, 2019 ............................... 1 MANAGEMENT REPORT FOR THE YEAR ENDED DECEMBER 31, 2019: FINCA Bank Nature of the Business and Mission .................................................................................................. 2 Vision for the Bank .......................................................................................................................................... 2 Value proposition and long-term place in the market ............................................................................................ 3 Strategic Priorities and Goals ............................................................................................................................ 3 FINCA Bank Core operating segments ................................................................................................................ 3 Results of Operation for 2019 ............................................................................................................................ 4 Corporate Governance...................................................................................................................................... 4 General Meeting of Shareholders
    [Show full text]
  • June 30,2020 Table of Contents
    FOR THE HALF YEAR ENDED JUNE 30,2020 TABLE OF CONTENTS Corporate Information 02 Directors’ Report to the Members 03 Directors’ Report to the Members (Urdu) 06 Independent Auditors’ Review Report 08 Condensed Interim Balance Sheet 10 Condensed Interim Profit and Loss Account (Un-Audited) 11 Condensed Interim Statement of Comprehensive Income (Un-Audited) 12 Condensed Interim Cash Flow Statement (Un-Audited) 13 Condensed Interim Statement of Changes in Equity 14 Selected Notes to the Condensed Interim Financial Information 15 CORPORATE INFORMATION BOARD OF EXECUTIVE COMMITTEE TAX CONSULTANT DIRECTORS Mr. Muhammad Akram Shahid Grant Thornton Anjum Rahman Mr. Muhammad Akram Shahid Chairman Chartered Accountants Chairman Mr. Imad Mohammad Tahir Mr. Imad Mohammad Tahir Member BANKERS Mr. Abdul Aziz Khan Director United Bank Limited Member Mr. Muhammad Asghar Sindh Bank Limited Mr. Muhammad Asghar Director Khushali Bank limited Member Bank Al-Habib Limited Mr. Muhammad Saleem Shaikh Mr. Muhammad Saleem Shaikh Summit Bank Limited Director Member Zarai Taraqiati Bank Limited Syed Rahat Ali Shah JS Bank Limited Director HUMAN RESOURCE & Silk Bank Limited First Microfinance Bank Limited Mr. Abdul Aziz Khan REMUNERATION COMMITTEE Soneri Bank Limited Director Mr. Abdul Aziz Khan Telenor Microfinance Bank Limited Mr. Javaid Sadiq Chairman FINCA Microfinance Bank Limited NRSP Microfinance Bank Limited Director Mr. Javaid Sadiq Habib Metropolitan Bank Limited Member Mr. Imam Bukhsh Baloch National Bank of Pakistan Limited (SBP-FPT is under process) Mr. Imad Mohammad Tahir The Bank of Punjab Limited Director Member U Microfinance Bank Limited Syed Rahat Ali Shah Mobilink Microfinance Bank Limited PRESIDENT / CHIEF Member EXECUTIVE OFFICER Mr. Muhammad Saleem Shaikh REGISTERED OFFICE Member Mr.
    [Show full text]
  • A Changing Landscape
    A Changing Landscape: What the 2017 Findex Tells Us About Mobile Money, Women’s Financial Inclusion and Savings in Vulnerable Households Authored by Scott Graham Scott Graham is the Director of Customer Research and Field Data Services at FINCA International. About FINCA International FINCA International was founded in 1984 on a radical notion: giving small loans to the poor has the power to transform entire communities in a sustainable way. After impacting tens of millions of lives with responsible financial services, we are widening our focus to catalyze further economic growth and alleviate poverty in underserved markets around the world. We remain boldly committed to market-based solutions, and are supporting the rise of social enterprises delivering basic service and financial innovation to help low-income families and communities achieve a better standard of living. For more information, visit www.FINCA.org or follow on Twitter @FINCA. About FINCA Impact Finance Many figures in this paper cite “FINCA Countries” or “FINCA Regions.” These refer to the operations of FINCA Impact Finance, a global network of 20 microfinance institutions and banks that provides socially responsible financial services to low-income individuals. FINCA International is the founder and majority shareholder of FINCA Impact Finance. For more information, visit www.FINCAImpact.com. About the Global Findex Database 2017 All the figures in this paper rely on the Global Findex, the world’s most comprehensive dataset on how adults save, borrow, make payments and manage risk. Overseen by the World Bank and launched with funding from the Bill & Melinda Gates Foundation, the Global Findex has been published every three years since 2011.
    [Show full text]
  • THE OPPORTUNITY the Middle East and South Asia
    Pairing access to finance with access to energy and helping the bottom of the pyramid no longer be counted among the unbanked. BEGINNING IN 1984, FINCA International founded what would become a global microfinance network across 20 countries in Africa, Latin America, Eurasia, THE OPPORTUNITY the Middle East and South Asia. This network, known as FINCA Impact Finance, serves over 2 million low- BrightLife leverages the finance expertise and distribution capacity of FINCA to collaborate with best-in-class original income clients annually, many living in rural areas. equipment manufacturers (OEMs) and drive uptake of clean energy and productive use appliances for the BOP market. Organizational Context Recognizing meaningful access to basic services requires 1) Through its PAYGo energy product, BrightLife is developing access to finance, FINCA International has an important role to customer segmentation and credit profiles for a previously play in accelerating solutions. Today, we are developing new unbanked population—particularly those living rurally—and financial products, particularly in energy, as pay-as-you-go unlocking financial inclusion for an entirely new segment of (PAYGo) financing is a powerful pathway for bringing financial the population. inclusion to the unbanked and under-banked. The extensive on-the-ground banking infrastructure and local trust networks 2) Working directly with manufacturers, BrightLife is able of FINCA Impact Finance can uniquely reach and engage poor to bring innovative products into the market at the lowest and rural families. To catalyze solutions, FINCA International’s possible cost to consumers. work has expanded into financing and last-mile distribution of clean energy and productive use appliances through 3) BrightLife uses its product portfolio and a direct partnership BrightLife, a social enterprise currently operating in Uganda.
    [Show full text]
  • BRINGING FINTECH Sgbs and Mfis TOGETHER THROUGH FINCA FORWARD
    PARTNERING TO ACCELERATE ENTREPRENEURSHIP FINCA INTERNATIONAL: BRINGING FINTECH SGBs AND MFIs TOGETHER THROUGH FINCA FORWARD USAID PARTNER TIMEFRAME EXPECTED TO BE GEOGRAPHY LEVERAGED IN PRIVATE CAPITAL $610,000 $1.8 M 2 Years (2018-2020) $160,000 Central and East Africa Entrepreneurs play a critical role in driving economic growth, creating jobs, and innovating to improve people’s lives ​ through market-based solutions. Through the ​Partnering to Accelerate Entrepreneurship (PACE) Initiative​, USAID catalyzes market-based private sector investment into early-stage enterprises by identifying and testing innovative models or approaches that help entrepreneurs bridge the pioneer gap and scale. THE CHALLENGE The rise of emerging and mobile technologies has been a game changers for developing countries, offering life-changing innovations to connect people to financial markets who never had access before. According to the World Bank’s 2017 Global Findex report, market vendors in Kenya -- primarily women -- who were provided savings accounts, saved at a higher rate and invested 60 percent more compared to other businesses. Farmers in Malawi, who had their earnings deposited into savings accounts spent 13 percent more on farming equipment and increased their crop values by 15 percent. Moreover, in Latin America, over 40 percent of small- and growing- businesses (SGBs) served segments of the population previously neglected by the financial system, making SGBs a key pillar in expanding financial inclusion. Yet, the rapidly growing financial technology (fintech) market is still quite young in emerging economies, and SGBs often lack the expertise and relationships necessary to scale. Fintech SGBs can benefit from greater access to customers, growth capital, testing of their products and services via proof-of-concept partnerships, and relevant business and legal technical assistance.
    [Show full text]
  • IBFT- Account Number Formats
    IBFT- Account Number Formats Allied Bank Please enter Allied Bank Account Number by following the layout below: Total Digits of Account Number: 13 or 20 Digits Format Example: BBBBAAAAAAAAA or BBBBAAAAAAAAAAAAAAAA BBBB = 4 Digit Branch Code, AAAAAAAAA = 9 Digit Account Number, AAAAAAAAAAAAAAAA = 16 Digit Account Number Apna Microfinance Bank Please enter Apna Microfinance Bank Account Number by following the layout below: Total Digits of Account Number: 16 Digits Format Example: BBBBAAAAAAAAAAAA BBBB = 4 Digit Branch Code, AAAAAAAAA = 12 Digits Askari Bank Please enter Askari Bank Account Number by following the layout below: Total Digits of Bank Account Number: 14 Digits Format Example: BBBB = 4 Digit Branch Code, AAAAAAAAAA = 10 Digit Account Number Branchless Banking Account # Always consist of 11 digits Mobile Number. Al-Baraka Please enter Bank Al-Baraka total digits of account Number: Total Digits of Account Number: 13 Digits Bank Alfalah Please enter Bank Alfalah Account Number by following the layout below: Conventional A/C#: Total Digits of Account Number: 14 Format Example: BBBBAAAAAAAAAA BBBB = 4 Digit Branch Code, AAAAAAAAAA = 10 Digit Account Number Islamic A/C#: Total Digits of Account Number: 18 Digit Format Example: BBBBAAAAAAAAAAAAAA BBBB = 4 Digit Branch Code, AAAAAAAAAAAAAA = 14 Digit Account Number Branchless Banking Account # : Always consist of 11 digits Mobile Number. Bank Al-Habib Please enter Bank Al-Habib Account Number by following the layout below: Total Digits of Account Number: 17 Digit Format
    [Show full text]
  • Jafri, Juvaria.Pdf
    City Research Online City, University of London Institutional Repository Citation: Jafri, J. (2019). Bifurcated banking: the political economy of inclusive finance in Pakistan. (Unpublished Doctoral thesis, City, University of London) This is the accepted version of the paper. This version of the publication may differ from the final published version. Permanent repository link: https://openaccess.city.ac.uk/id/eprint/23914/ Link to published version: Copyright: City Research Online aims to make research outputs of City, University of London available to a wider audience. Copyright and Moral Rights remain with the author(s) and/or copyright holders. URLs from City Research Online may be freely distributed and linked to. Reuse: Copies of full items can be used for personal research or study, educational, or not-for-profit purposes without prior permission or charge. Provided that the authors, title and full bibliographic details are credited, a hyperlink and/or URL is given for the original metadata page and the content is not changed in any way. City Research Online: http://openaccess.city.ac.uk/ [email protected] BIFURCATED BANKING: THE POLITICAL ECONOMY OF INCLUSIVE FINANCE IN PAKISTAN JUVARIA JAFRI A thesis submitted to City, University of London for the degree of DOCTOR OF PHILOSOPHY Department of International Politics, School of Arts and Social Sciences, City, University of London June 2019 0 1 TABLE OF CONTENTS TABLE OF CONTENTS ........................................................................................................................................
    [Show full text]
  • Celebrating One Year of FINCA in Nigeria
    Celebrating one year of FINCA in Nigeria Owerri, December 4th,2015: FINCA, a global microfinance network with operations in 23 countries on five continents, today officially celebrated one year of operations in Nigeria as FINCA Microfinance Bank Ltd. FINCA commenced its operations, in Owerri – Imo State, Nigeria on the 4th of December 2014; following approval and licencing from the by Central Bank of Nigeria on 30th October 2014. The Chief Executive Officer of FINCA Microfinance bank, Mr Philip Takyi, speaking at the event said, ”FINCA is a global leader in microfinance serving over 1.8million clients worldwide. Founded 30 years ago, FINCA is a pioneer of the modern microfinance industry and has been recognized throughout its history for innovation, efficiency, ethical practices, and an uncompromising focus on social performance. In Africa, FINCA is the leading Pan African Microfinance network serving low income savers and borrower, with presence in Uganda since 1992, Malawi (1994), Tanzania (1998), Zambia (2001) and Democratic Republic of Congo (2003), and Nigeria (2014). FINCA’s mission is to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living. FINCA’s vision is to build a global network of sustainable and scalable social enterprises that improve lives worldwide. In Nigeria, FINCA started operations with simple but innovative financial solutions - savings, term deposits, microinsurance, funds transfer and loan products - to help our clients effectively manage their money, save for the future or grow their micro-businesses. The Chief Executive Officer further highlighted that “FINCA services are accessed through an efficient branch and non-branch network, starting in Owerri- Imo State, with an expansion plan to other states in the near future”.
    [Show full text]
  • Building Inclusive Financial Sectors for Development: Widening Access, Enhancing Growth, Alleviating Poverty
    SUMMARY REPORT E­CONFERENCE ON: Building Inclusive Financial Sectors for Development: Widening Access, Enhancing Growth, Alleviating Poverty March 28 th – April 13 th , 2005 Edited by Kathryn Imboden UN Capital Development Fund Barry Herman UN Department of Economic and Social Affairs Djordjija Petkoski World Bank Institute Jointly sponsored by UNCDF, the Financing for Development Office of UN DESA and the World Bank Institute TABLE OF CONTENTS BACKGROUND INFORMATION ON BLUE BOOK PROJECT 2 EXECUTIVE SUMMARY 3 BREAKDOWN OF E­CONFERENCE PARTICIPATION 10 E­CONFERENCE PROCEEDINGS PER WEEK 11 BIOGRAPHIES OF MODERATORS 15 BACKGROUND READINGS 17 RELATED LINKS AND WEBSITES 19 E­CONFERENCE TEAM 20 1 BACKGROUND INFORMATION ON THE BLUEBOOK PROJECT The vast majority of “bankable” people in the world do not yet have access to financial services. In many countries, the financial sector reaches only a small fraction of the population, as various constraints hamper or block the inclusion of different population groups needing access to financial services, notably women. Access to well functioning and efficient financial services can empower individuals economically and socially, allowing them to better integrate into the country’s economic activity and actively contribute to economic growth. The “Blue Book on Building Inclusive Financial Sectors for Development” is based on the commitment of Secretary General Kofi Annan to the goal of "addressing the constraints that exclude people from full participation in the financial sector", under the UN International Year of Microcredit 2005 in order to "build inclusive financial sectors that help people improve their lives," and the global commitment to collective action following the 2002 International Conference on Financing for Development in Monterrey.
    [Show full text]
  • March 31, 2020
    First Credit And Investment Bank Limited ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Vision Be a preferred investment bank enhancing value for the stakeholders and contributing to the National goals. Mission Statement Contributing through innovative financing and investment in quality portfolio, advisory services delivered in an environment of trust and customer confidence supported by a team of professionals. First Credit And Investment Bank Limited ________________________________________________
    [Show full text]
  • Annual Report
    Annual Report Head Office: 23 - A, Sunderdas Road, (Thandi Sarak) Zaman Park, Lahore. Tel : +92 42-36362475-76 UAN : +92 42 111-771-772 Email : [email protected] www.apnabank.com.pk OUR PURPOSE Enhancing Quality of Banking and Contributing to a future. Online You can find more information about the apna bank at www.apnabank.com.pk Social Media Pages: Facebook: https://www.facebook.com/Apnamicrofinancebank Twitter: https://twitter.com/amfbl/ LinkedIn: https://www.linkedin.com/company/apna-micro-finance-bank-limited/ KEY PERFORMANCE INDICATORS Based on results Deposit and Other Accounts Micro Credits of the Bank as 26,179 10,505 (PKR in million) (PKR in million) presented in the Financial Total Assets Total Equity Statements 28,831 2,259 (PKR in million) (PKR in million) Mark-Up/Return/Interest Earned Profit Before Tax 3,418 58 (PKR in million) (PKR in million) Profit After Tax Earning Per Share 37 0.11 (PKR in million) TABLE OF CONTENTS About AMBL 3 Categories of Shareholders 39 Vision & Mission Statement 4 List of CDC Beneficial Owners Holding Shares by Sponsors Directors 40 Core Values & Bank’s Philosophy 5 Organizational Chart 6 List of CDC Beneficial Owners Holding Shares 10% and Above 40 Key Financial and Operational Data at a Glance 7 Major Loans Products 41 Board Of Directors 8 Corporate Meetings 9 FINANCIAL Corporate Information 10 STATEMENTS Key Management 11 Independent Auditors’ Report 43 How We Performed 12 Balance Sheet 48 Chairman’s Review 14 Profit and Loss Account 49 President / CEO’s Message 15 Statement of Comprehensive
    [Show full text]
  • FINCA International, Inc
    FINCA International, Inc. Consolidated Financial Statements and Independent Auditors’ Report Year Ended December 31, 2010 The report accompanying these financial statements was issued by BDO USA, LLP, a Delaware limited liability partnership and the U.S. member of BDO International Limited, a UK company limited by guarantee. FINCA International, Inc. Consolidated Financial Statements and Independent Auditors’ Report Year Ended December 31, 2010 FINCA International, Inc. Contents Independent Auditors’ Report 3 Consolidated Financial Statements Consolidated Statements of Income 4 Consolidated Balance Sheets 5 Consolidated Statements of Comprehensive Income 6 Consolidated Statements of Changes in Equity 7 Consolidated Statements of Cash Flows 8 Notes to Consolidated Financial Statements 9 – 58 2 Consolidated Financial Statements FINCA International, Inc. Consolidated Statement of Income Years ended December 31, Notes 2010 2009 Interest income 7$ 163,277,485 $ 154,151,468 Interest expense 7 (27,207,911) (26,999,183) Net interest income before provision for impairment losses 136,069,574 127,152,285 Impairment losses on loans 15 (5,724,041) (8,148,132) Net interest income 130,345,533 119,004,153 Other operating income 6,185,318 4,640,852 Personnel expenses 8 (81,459,720) (75,863,354) Other operating expenses 9 (55,764,085) (55,830,974) Depreciation and amortization - (5,808,080) (7,189,898) (143,031,885) (138,884,226) Loss before other income (expenses) and income tax (6,501,034) (15,239,221) Other income (expenses): Grants 11 7,434,765 5,451,733 Donations 11 13,893,771 15,909,226 Foreign exchange loss - (2,487,872) (2,934,400) Non-operating income - 2,354,929 625,391 Income tax expense 10 (4,667,192) (3,070,377) Profit for the year$ 10,027,367 $ 742,352 The notes form an integral part of these consolidated financial statements.
    [Show full text]