In a notice to Pakistan Stock Exchange, Pakistan’s largest Private Commercial Banks Habib bank Ltd has announced that its Board of Directors has “approved and authorized equity investment in The First MicroFinance Bank Ltd. (FMFB) of up to Rs.4 billion over the next three years to help FMFB to maintain a stronger capital base and provide sufficient headroom in its Capital Adequacy Ratio (CAR) for on-going business expansion and growth plans”.
The Capital injection is subject to SBP and other regulatry approvals.
Total Paid-up Capital of The First MicroFinance Bank Ltd is Rs. 2.73 billion with Total Equity of Rs. 6 billion.
Habib Bank Ltd has 50.5% shareholding in The First MicroFinance Bank Ltd. while Aga Khan Agency for Microfinance and associated concerns hold 40.7% of the holding, while Japan International Cooperation Agency holds 8.8% shareholding.
Latest posts by News Desk (see all)
- Oil Prices down amid Geo-Political Uncertainty - November 1, 2023
- Govt to borrow PKR8.5 trillion in Bond Auction till Jan-2024 - November 1, 2023
- Nishat Chunian Ltd: 1QFY24 profit rises 13 percent to PKR 500mn - October 31, 2023