FMBL To Explore Potential Merger With TPL Corp, Abhi Ltd

The FINCA Microfinance Bank is taking initial steps to explore a potential merger with TPL Corp, Abhi Limited, with a non-binding letter of intent, subject to the approval of the State Bank of Pakistan (SBP)

ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Nov, 2023) The FINCA Microfinance Bank is taking initial steps to explore a potential merger with TPL Corp, Abhi Limited, with a non-binding letter of intent, subject to the approval of the State Bank of Pakistan (SBP).

The two organizations share a commitment to financial inclusion in Pakistan and believe that a combination could create a more effective force for good, said a press release.

“FINCA Microfinance Bank, Ltd. is committed to spreading financial inclusion across Pakistan, enabling more low-income Pakistanis to invest in their futures and their communities,” said FINCA Pakistan CEO Jahanzeb Khan on Thursday.

He said, “We are excited to investigate how a combination of our two institutions can add value to the services we provide our customers.

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The FINCA Pakistan is part of FINCA Impact Finance (FIF), an international network of 16 microfinance banks, with nearly 40 years of experience in empowering tens of millions of people to build their financial health.

The TPL Corp is a diversified financial services company with a presence in insurance, investment banking, and asset management.

Both parties will work diligently to explore the potential combination and to reach an agreement that is in the best interests of all stakeholders, customers, employees, and shareholders.