a quarterly update on microfinance outreach in …€¦ · microcredit outreach reached 7.3 million...

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A QUARTERLY UPDATE ON MICROFINANCE OUTREACH IN PAKISTAN

ISSUE 55: Q1 (JAN-MAR) 2020

Quarter Change

Q1 - 2020 Q4 - 2019 Units %

Number of Branches/Units 3,824 4,036 -212 -5.2

Number of Districs Covered 139 138 1 0.7

Penetration Rate(%) 35.4

Active Borrowers 7,298,902 7,249,943 48,959 0.7

Gross Loan Portfolio (PKR Millions) 308,557 305,753 2,803 0.9

Number of Loans Disbursed 3,234,332 2,624,190 610,142 23.2

Disbursements (PKR Millions) 102,833 123,935 -21,102 -17.0

Average Loan Size(PKR) 31,794 47,228 -15,434 -32.7

Number of Savers 49,306,197 47,642,271 1,663,926 3.5

Value of Savings (PKR Millions) 263,626 267,591 -3,965 -1.5

Average Saving Balance (PKR) 5,347 5,617 -270 -4.8

Number of Policy Holders 8,383,333 8,479,576 -96,243 -1.1

Sum Insured (PKR Millions) 264,869 266,748 -1,879 -.7

The analysis of the first quarter 2020 displayed the effects of the Global Pandemic caused due to COVID-19 as outreach remained constant. Microcredit outreach reached 7.3 million while the Gross Loan Portfolio increased to PKR 307.8 billion. The number of loans disbursed increased by 23% to over 3.2 million as Mobilink Microfinance Bank started to report nano loans for the first time which translated into a decrease in the value of disbursements to just over PKR 102.5 billion. This also resulted in Mobilink adding the most clients with over 287 thousand compared to the previous quarter. The period also saw Khushhali become the largest provider of MicroCredit in terms of both clients and GLP with 12% and 18% of market share respectively as it surpassed 895 thousand borrowers and PKR 55.7 billion in GLP. In terms of active borrowers, the market share of MFBs increased from 49% to 51% as NBMFCs declined to 49%. Of the NBMFCs, Kashf contributed the most clients with around 15 thousand followed by RCDP and SRSO which added 2,800 and 2,600 respectively. The market share of GLP remained unchanged as MFBs held 71% compared to 29% of NBMFCs with the increase driven by MFBs, mainly KBL and NRSP Bank, as they added PKR 4.2 billion combined. Women made up 50% of the total active clients with a total portfolio of 40%. Rural outreach also increased from 53% of total clients to 57%. PAR>30 days increased from 4.8 in the previous quarter to 5.6 during the quarter under review as MFBs recorded a PAR of 6.6 compared 3.3 of NBMFCs. Active Savers increased by 3.5% to over 49 million while the value of savings declined to over PKR 263.6 billion. The increase in Savers was led by TMFB as they experienced an addition of over 1.4 million savers on the back of an increase in M-Wallet activity. The decline in savings was also due to a decrease in the value of savings of TMFB by PKR 5 billion while KBL contributed the most by adding over PKR 1.34 billion during the quarter, followed by FMFB and MMFB adding PKR 677 million and PKR 672 million respectively. Nevertheless, the decline in savings translated into a decrease in the average saving balance to PKR 5,355. The market share of M-wallets remained unchanged with 76% while the value of these remained at 12% or around PKR 31 billion. Women savers still held a minority share with 23% of total savers and 16% of value of savings, while the share of total savers based out of urban regions declined to 56%. Of Microinsurance, the number of policy holders declined to 8.38 million while the total sum insured stood at PKR 265 billion. The quarter saw Kashf, KBL & NRSP Bank add the most policy holders, with over 95 thousand, while in terms of sum insured, KBL and FMFB led the sector by adding over PKR 3.5 billion. Kashf remains the largest provider in terms of policy holders and sum insured with over 2.6 million policy holders worth PKR 65.6 billion. The sector remained dominated by health and life insurance policies having a market share of 45% and 54%, respectively. By the end of the quarter, the market penetration rate stood at 35.6% while the total number of branches declined to 3,824 as microfinance services expanded to 139 districts. The decline in the number of branches was due to closure of some customer facilitation centers of NRSP in remote regions

districts serviced respectively.

MicroWATCH is a quarterly publication of the Pakistan Micronance Network (PMN). It is made possible by the generous support of the Department for International Development (DFID, through UK-AID), the Citi Foundation and the Pakistan Poverty Alleviation Fund (PPAF). It is also a result of the efforts of organizations that contributed their data (for citations, see back cover).

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0.2 -

because of the increased cost of compliance. Akhuwat maintained the largest presence by covering 92 districts followed by KBL and FMFB with 82 and 81

35.6

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DISTRIBUTION OF ACTIVE BORROWERS

Top 5 Districts: Greatest Increase in Microcredit Outreach

District Active Borrowers (Q1) Growth (Q4 to Q1)

Net %

1 ICT 311,334 279,899 890.4

2 Bhawalnagar 225,932 10,974 5.1

3 Khanewal 117,758 6,029 5.4

4 Bahawalpur 221,947 5,758 2.7

5 Thatta 43,166 3,071 7.7

DISTRIBUTION OF ACTIVE SAVERS

Top 5 Districts: Greatest Increase in Savings Outreach

District Active Savers (Q1) Growth (Q4 to Q1)

Net %

1 Lahore 22,926,605 330,197 1.5

2 Khanewal 434,081 232,924 115.8

3 ICT 511,587 210,478 69.9

4 D.G. Khan 507,669 187,373 58.5

5 Leyyah 444,901 149,497 50.6

Geographical boundaries for new districts demarcated in 2004-06 have not been made available by Survey of Pakistan. The following districts are therefore, not shown on the map: Sehwan Sharif, Jamshoro (Dadu); Matyari, Tando Allahyar, Tando Muhammad Khan (Hyderabad); Shedadkot (Larkana); Mingora (Swat); Sherani (Zhob)

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MICROCREDIT PROVISION

Summary of Microcredit Provision (All Pakistan)

Lending Methodology Asset Type Peer Group

Total Group Individual MSE Secured Unsecured MFB MFI RSP Other MFPs

Number of Branches/Units

Q4 4,036 - - - - - 1,424 1,870 716 26

Q1 3,824 - - - - - 1,434 1,860 503 27

Active Borrowers

Q4 7,249,943 2,479,149 4,598,333 172,461 759,538 6,490,405 3,557,846 2,457,043 1,206,283 28,771

Q1 7,298,902 2,314,654 4,789,519 194,729 597,640 6,701,262 3,715,557 2,393,423 1,162,428 27,494

Gross Loan Portfolio(PKR Millions)

Q4 305,753 62,338 210,233 33,182 51,816 253,937 213,712 60,363 30,983 696

Q1 308,557 58,096 215,408 35,053 52,512 256,045 217,898 60,354 29,664 641

Portfolio at Risk > 30 days (Percentage)

Q4 - - - - -

Q1 - - - - - 2.0 7.5

Average Loan Balance (PKR)

Q4 42,173 25,145 45,719 192,401 68,221 39,125 60,068 24,567 25,685 24,184

Q1 42,274 25,099 44,975 180,009 87,865 38,209 58,645 25,216 25,519 23,330

Number of Loans Disbursed

Q4 2,624,190 503,921 2,060,187 60,082 - - 1,669,857 619,326 329,786 5,221

Q1 3,234,332 298,855 2,424,093 511,384 - - 1,771,787 1,219,458 239,448 3,639

Disbursements (PKR Millions)

Q4 123,935 24,259 86,355 13,321 - - 84,146 25,621 13,922 246

Q1 102,833 14,117 57,342 31,375 - - 62,048 31,689 8,926 170

Average Loan Size (PKR)

Q4 47,228 48,140 41,916 221,707 - - 50,391 41,370 42,214 47,053

Q1 31,794 47,235 23,655 61,352 - - 35,020 25,986 37,278 46,622

Districts with Highest Growth (Net) by Province

Province District Active Borrowers (Q1) Growth (Q4toQ1) Potential Microfinance Market Penetration Rate(%)

A Net % B (A/B)x100

1 Muzaffarabad 27,045 -2,634 -8.9 - -

2 Kotli 19,682 -211 -1.1 - -

3

AJK

Poonch 18,576 794 4.5 - -

1 Nasirabad 5,855 392 7.2 - -

2 Quetta 4,501 -415 -8.4 - -

3

Balochistan

Jafarabad 2,389 1,088 83.6 - -

1 Gilgit 20,875 -1,098 -5 - -

2 Ghizer 13,049 -421 -3.1 - -

3

Gilgit-Baltistan

Skardu 6,222 -43 -.7 - -

1 Khyber Agency 7,150 -589 -7.6 - -

2 Bajaur Agency 6,580 -763 -10.4 - -

3

FATA

Kurram Agency 3,290 -351 -9.6 - -

1 ICT ICT 311,334 279,899 890.4 - -

1 Haripur 23,578 -791 -3.2 - -

2 D.I. Khan 15,752 -397 -2.5 - -

3

Khyber-Pakhtunkhwa

Abbottabad 15,394 -591 -3.7 - -

1 Faisalabad 294,281 -6,304 -2.1 - -

2 Lahore 284,315 -13,767 -4.6 - -

3

Punjab

Rahimyar Khan 245,306 -7,362 -2.9 - -

1 Karachi 471,898 -116,492 -19.8 - -

2 Sanghar 98,418 -2,064 -2.1 - -

3

Sindh

Sukkur 77,024 -2,462 -3.1 - -

4.8 6.1 1.3 2.7 1.8

5.6 6.6 1.8 6.4 2.0

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4.815.63

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MFPs with Largest Net Increase in Active Borrowers

Increase in Active Borrowers Market Share (% of Active Borrowers)

Q4 to Q1

MFP

Net %

1 MMFB 287,223 157.4 6.4

2 KBL 24,002 2.8 12.3

3 KASHF 14,811 2.9 7.3

4 NRSP-B 14,352 4.1 5

5 AMFB 9,961 10.7 1.4

MFPs with Largest Percentage Increase in Active Borrowers

Increase in Active Borrowers Market Share (% of Active Borrowers)

Q4 toQ1

MFP

Net %

1 MMFB 287,223 157.4 6.4

2 AMFB 9,961 10.7 1.4

3 SVDP 629 5.2 0.2

4 NRSP-B 14,352 4.1 5

5 SMFC 231 4.0 0.1

Largest Providers of Microcredit (Active Borrowers)

MFP Active Borrowers (Q1) Market Share (% of Active Borrowers)

1 KBL 895,230 12.3

2 NRSP 814,040 11.2

3 AKHU 809,765 11.1

4 TMFB 704,785 9.7

5 KASHF 530,697 7.3

Largest Providers of Microcredit (Gross Loan Portfolio)

MFP GLP (Q1) Market Share (% of GLP)

1 KBL 55,772,428,167 18.1

2 FMFB 32,373,504,050 10.5

3 NRSP-B 29,824,213,857 9.7

4 UBANK 23,277,332,777 7.5

5 FINCA 22,811,842,164 7.4

MFPs with Largest Geographic Spread

MFP AKHU KBL FMFB UBANK KASHF

Geographic Spread (No. of Districts) 92 82 81 79 63

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MICRO-SAVINGS PROVISION

Summary of Micro-savings Provision (All Pakistan)

Saving Methodology Medium Peer Group

Total Intermediation Mobilization Branches M-Wallets MFB MFI RSP Other MFPs

Number of Savers

Q4 47,642,271 44,390,660 3,251,611 11,579,520 36,062,751 44,390,660 - 3,251,611 -

Q1 49,306,197 46,047,091 3,259,106 11,782,838 37,523,359 46,047,091 - 3,259,106 -

Value of Savings (PKR Millions)

Q4 267,591 266,289 1,302 239,587 28,005 266,289 - 1,302 -

Q1 263,626 262,324 1,302 232,716 30,910 262,324 - 1,302 -

Average Saving Balance (PKR Millions)

Q4 5,617 5,999 400 20,691 777 5,999 - 400 -

Q1 5,347 5,697 400 19,750 824 5,697 - 400 -

Micro-savings Provision by MFPs

Saving Methodology Peer Group

Total

MFPs offering Savings

Intermediation Mobilization MFB MFI RSP Other MFPs

No. of Reporting MFPs

Q4 38 16 11 5 11 - 5 -

Q1 39 16 11 5 11 - 5 -

Saving Methodology:

1. Intermediation: Public deposits used to nance an organization’s loan portfolio. Only SBP-regulated MFPs (CFIs and MFBs) can accept and intermediate deposits from the general public.

2. Mobilization: MFPs not regulated by SBP (MFIs, NGOs, RSPs) can neither hold nor intermediate deposits from the general public. These organizations do however mobilize savings from their members/clients to place with licensed commercial banks.

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MICRO-SAVINGS PROVISION

Largest Providers of Micro-savings (Value of Savings)

MFP Value of Savings (Q1) Market Share (% of Value of Savings)

1 KBL 65,221,232,690 24.7

2 FMFB 39,106,556,115 14.8

3 TMFB 36,449,515,577 13.8

4 MMFB 29,975,974,217 11.4

5 NRSP-B 26,799,143,670 10.2

Districts with Highest Outreach (Active Savers)

District Active Savers (Q1) Increase (Q4 to Q1)

Net %

1 Lahore 22,926,605 330,197 1.4

2 Karachi 6,351,022 52,007 .8

3 Peshawar 3,667,759 35,209 1.0

4 Bahawalpur 784,704 13,181 1.7

5 Bhawalnagar 686,172 11,598 1.7

MFPs with Largest Increase in Active Savers (Net)

MFP Increase in Active Savers (Q4) to (Q1)

Net %

1 TMFB 1,426,465 8.3

2 UBANK 98,968 11.8

3 KBL 98,474 3.9

4 FINCA 87,237 6.8

5 FMFB 48,531 4.0

MFPs with Largest Increase in Value of Savings (Net)

MFP Increase in Value of Savings (Q4 to Q1)

Net %

1 KBL 1,338,775,985 2.1

2 FMFB 676,959,999 1.8

3 MMFB 672,516,612 2.3

4 NRSP-B 127,917,924 .5

5 Advans 12,051,077 1.3

Largest Providers of Micro-savings (Active Savers)

MFP Active Savers (Q1) Market Share (% of Active Savers)

1 MMFB 19,487,275 39.5

2 TMFB 18,608,779 37.7

3 NRSP 2,968,129 6

4 KBL 2,640,100 5.4

5 FINCA 1,370,914 2.8

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MICRO-INSURANCE PROVISION

Summary of Micro-insurance Provision (All Pakistan)

Type Peer Group

Total Health Credit Life MFB MFI RSP Other MFPs

Number of Policy Holders

Q4 8,479,576 3,871,863 4,524,408 2,710,597 4,222,374 1,534,850 11,755

Q1 8,383,333 3,805,760 4,528,425 2,655,592 4,223,885 1,493,285 10,571

Sum Insured (PKR Millions)

Q4 266,748 - - 136,562 91,106 38,601 479

Q1 264,869 - - 136,129 91,063 37,249 427

Micro-insurance Provision by MFPs

Type of Insurance offered Peer Group

Total

MFPs offering Insurance

Health Life Other MFB MFI RSP Other MFPs

No. of Reporting MFPs

Q4 38 23 9 18 2 8 9 5 1

Q1 39 23 11 17 2 8 9 5 1

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MICRO-INSURANCE PROVISION

Districts with Highest Outreach (Policy Holders)

District Policy Holders (Q1) Increase (Q4 to Q1)

Net %

1 Lahore 506,845 -24,074 -4.5

2 Faisalabad 495,026 -10,276 -2.0

3 Gujranwala 363,320 -7,738 -2.1

4 Rahimyar Khan 307,911 2,815 .9

5 Sargodha 275,459 -2,570 -.9

Top 5 Districts: Greatest Increase in Micro-Insurance Outreach

District Policy Holders (Q1) Growth (Q4 to Q1)

Net %

1 Bahawalpur 257,031 6,312 2.5

2 Khanewal 160,890 6,211 4.0

3 Shehdad Kot 35,675 5,248 17.2

4 Narowal 151,099 5,222 3.6

5 Jhang 179,414 4,611 2.6

Largest Providers of Micro-Insurance (Policy Holders)

MFP Policy Holders (Q1) Market Share (% of Policy Holders)

1 KASHF 2,659,312 31.7

2 NRSP 1,256,377 15

3 KBL 1,022,050 12.2

4 AKHU 809,765 9.7

5 NRSP-B 650,707 7.8

Largest Providers of Micro-Insurance (Sum Insured)

MFP Sum Insured (Q1) Market Share (% of Sum Insured)

1 KASHF 65,532,890,974 24.7

2 KBL 61,592,308,167 23.3

3 NRSP 35,369,297,891 13.4

4 FMFB 32,440,061,145 12.2

5 TMFB 22,214,013,402 8.4

OUTREACH (All Pakistan)

Province Offices Microcredit Micro-Savings Micro-Insurance Potential Microfinance Market Penetration Rate(%)

Fixed Mobile Active Borrowers Gross Loan Portfolio(PKR) Active Savers Value of Savings(PKR) Policy Holders Sum Insured(PKR)

AJK 85 - 116,137 4,635,705,349 1,004,206 5,322,202,957 140,370 4,782,733,966 - -

Balochistan 35 - 17,717 1,249,445,147 724,280 1,131,972,226 21,357 1,256,651,181

Gilgit-Baltistan 67 1 45,846 3,296,125,905 173,120 12,858,384,247 48,347 3,038,984,196 - -

FATA 21 - 21,202 456,391,340 52,019 41,370,904 21,202 456,391,340 - -

ICT 31 - 311,334 1,171,343,470 511,587 23,706,873,223 105,817 3,870,583,061 - -

Khyber-Pakhtunkhwa 178 17 159,385 8,913,634,952 4,706,362 17,103,627,515 180,622 5,375,085,519

Punjab 2,568 24 5,046,981 232,498,759,321 33,487,660 109,168,722,092 6,784,468 204,647,833,226

Sindh 796 1 1,580,300 56,335,466,421 8,646,963 94,293,075,712 1,081,150 41,440,538,506

GRAND TOTAL 3,781 43 7,298,902 308,556,871,906 49,306,197 263,626,228,875 8,383,333 264,868,800,996

500,000 3.5

5,000,000 3.2

12,600,000 40.1

2,400,000 65.8

20,500,000 35.6

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OUTREACH (District Level)

BALUCHISTAN

District Offices Microcredit Micro-Savings Micro-Insurance Potential Microfinance Market


NRSP, TMFB, Awaran

- - - - 11,629 1,660,081 - - -

TMFB, Barkhan

- - - - 1,201 1,572,801 - - -

TMFB, Bolan

- - - - 1,190 956,387 - - -

MMFB, TMFB, Chagai

- - - - 5,621 6,478,545 - - -

TMFB, UBANK, Dera Bugti

1 - 885 56,978,850 2,887 2,313,458 - - -

AKHU, FMFB, MMFB, NRSP, POMFB, TMFB, UBANK, Gwadar

6 - 300 17,740,454 24,274 18,848,429 284 17,408,592 -

FMFB, KBL, MMFB, POMFB, TMFB, UBANK, Jafarabad

6 - 2,389 147,969,409 21,740 24,365,430 1,114 69,192,611 -

MMFB, TMFB, Jhal Magsi

- - - - 830 519,170 - - -

MMFB, TMFB, Kalat

- - - - 1,853 1,592,112 - - -

NRSP, TMFB, Kech (Turbat)

- - - - 68,966 10,293,090 - - -

MMFB, TMFB, Kharan

- - - - 676 405,970 - - -

MMFB, TMFB, Khuzdar

- - - - 1,845 1,832,176 - - -

TMFB, Kohlu

- - - - 895 2,047,031 - - -

FMFB, KASHF, MMFB, NRSP, POMFB, TMFB, Lasbela

4 - 1,859 57,945,460 46,814 4,116,395 7,958 211,651,433 -

AKHU, MMFB, TMFB, Loralai

1 - 128 4,110,000 6,405 5,916,648 128 4,110,000 -

MMFB, TMFB, Mastung

- - - - 1,752 1,275,112 - - -

TMFB, Musakhel

- - - - 5,177 5,370,479 - - -

FMFB, KBL, MMFB, POMFB, TMFB, Nasirabad

3 - 5,855 484,643,914 16,307 72,463,571 5,878 485,661,914 -

TMFB, Nushki

- - - - 3,898 2,396,247 - - -

NRSP, TMFB, Panjgur

- - - - 23,277 4,099,686 - - -

AKHU, MMFB, TMFB, Pishin

1 - 170 4,672,000 2,319 1,747,527 170 4,672,000 -

MMFB, TMFB, Qila Abdullah

- - - - 1,100 452,776 - - -

MMFB, TMFB, Qila Saifullah

- - - - 575 92,516 - - -

AKHU, AMFB, FINCA, FMFB, MMFB, NRSP-B, TMFB, UBANK, Quetta

11 - 4,501 307,439,995 465,583 932,590,153 4,195 296,009,566 -

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BALUCHISTAN Cont.



TMFB, Sherani

- - - - 401 238,956 - - -

AKHU, FMFB, MMFB, TMFB, Sibi

2 - 1,630 167,945,065 3,585 22,491,230 1,630 167,945,065 -

TMFB, Washuk

- - - - 2 1,831 - - -

MMFB, TMFB, Zhob

- - - - 2,913 4,748,941 - - -

MMFB, TMFB, Ziarat

- - - - 565 1,085,476 - - -

Total 35 - 17,717 1,249,445,147 724,280 1,131,972,226 21,357 1,256,651,181 500,000

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KHYBER-PAKHTUNKHWA (KP)



AKHU, AMFB, FINCA, FMFB, GBTI, KASHF, KBL, MMFB, NRSP-B, POMFB, TMFB, UBANK, Abbottabad

18 1 15,394 906,813,382 92,799 1,013,035,038 15,650 713,891,902 -

AKHU, AMFB, FINCA, MMFB, NRSP-B, TMFB, Bannu

5 - 5,617 306,621,675 12,617 179,398,797 3,825 72,603,400 -

AKHU, MMFB, TMFB, Batgram

1 - 420 7,172,300 716 87,240 420 7,172,300 -

KBL, MMFB, TMFB, Buner (Daggar)

1 - 701 31,831,086 4,341 116,389,595 760 35,971,086 -

AKHU, AMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, SRSP, TMFB, UBANK, Charsadda

7 - 5,135 324,217,342 55,815 290,965,610 4,978 175,582,176 -

AKHU, FMFB, MMFB, NRSP-B, TMFB, Chitral

11 - 8,795 715,128,323 56,868 1,607,240,499 9,190 663,485,402 -

AKHU, FINCA, FMFB, KBL, MMFB, NRSP-B, TMFB, UBANK, D.I. Khan

11 - 15,752 1,073,017,693 134,379 732,670,502 17,329 770,539,377 -

MMFB, TMFB, Hangu

- - - - 10,018 5,153,793 - - -

AKHU, AMFB, FINCA, FMFB, GBTI, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, SRSP, TMFB, UBANK, Haripur

14 15 23,578 1,153,423,510 76,780 498,470,213 49,091 549,039,605 -

MMFB, SRSP, TMFB, Karak

1 - 1,400 11,450,800 11,409 8,958,236 - - -

AKHU, KBL, MMFB, NRSP-B, SRSP, TMFB, UBANK, Kohat

7 - 4,019 215,059,049 28,289 514,302,806 2,574 108,946,366 -

AMFB, MMFB, TMFB, Kohistan

1 - 58 5,435,097 12,588 37,655,826 - - -

AKHU, MMFB, TMFB, Lakki Marwat

1 - 537 14,661,900 17,992 12,219,163 537 14,661,900 -

AKHU, KBL, MMFB, NRSP-B, TMFB, Lower Dir

4 - 1,043 105,326,104 22,920 277,160,530 854 22,156,726 -

AKHU, KBL, MMFB, NRSP, TMFB, Malakand

2 - 2,108 103,655,130 76,101 320,956,158 2,136 104,895,130 -

AKHU, FINCA, FMFB, KASHF, KBL, MMFB, NRSP-B, POMFB, TMFB, UBANK, Mansehra

16 - 13,847 695,589,697 48,230 446,089,497 14,513 452,521,420 -

AKHU, AMFB, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, TMFB, UBANK, Mardan

15 - 14,052 918,783,702 139,308 452,229,754 12,443 363,120,594 -

KBL, MMFB, TMFB, Mingora

1 - 3,351 213,700,340 15,065 563,195,690 3,584 223,480,340 -

AKHU, AMFB, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, SRSP, TMFB, UBANK, Nowshera

16 - 14,254 648,343,020 56,782 211,673,767 14,534 416,905,097 -

AKHU, AMFB, FINCA, FMFB, KASHF, KBL, MMFB, NRSP-B, OLP, SRSP, TMFB, UBANK, Peshawar

23 - 14,811 763,097,132 3,667,759 8,734,143,138 14,879 345,582,282 -

FMFB, MMFB, TMFB, Shangla

1 - 337 17,115,207 50,756 31,038,614 337 17,115,207 -

AKHU, GBTI, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, TMFB, UBANK, Swabi

12 1 9,480 451,553,431 95,092 1,008,952,969 9,044 234,748,843 -

AKHU, MMFB, NRSP, NRSP-B, OLP, SRSP, TMFB, UBANK, Swat

8 - 3,414 207,751,134 12,753 37,847,071 2,662 58,778,466 -

AKHU, MMFB, TMFB, Tank

2 - 1,282 23,887,900 3,553 2,250,618 1,282 23,887,900 -

MMFB, TMFB, Upper Dir

- - - - 3,432 1,542,390 - - -

Total 178 17 159,385 8,913,634,952 4,706,362 17,103,627,515 180,622 5,375,085,519 5,000,000

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PUNJAB



AKHU, ASA, FINCA, FMFB, GBTI, KASHF, KBL, MMFB, NRSP, POMFB, TMFB, UBANK, Attock

65 15 103,196 2,838,072,400 199,113 824,603,099 187,642 3,641,602,867 -

AGAHE, AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, TMFB, UBANK, Bahawalpur

77 - 221,947 13,239,014,355 784,704 3,840,659,747 257,031 9,299,810,592 -

AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, TMFB, UBANK, Bhakkar

41 - 101,840 5,882,837,268 384,121 792,490,535 91,548 3,662,973,236 -

AGAHE, AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, TMFB, UBANK, Bhawalnagar

84 - 225,932 14,381,767,961 686,172 2,935,078,027 225,895 8,665,430,687 -

AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, MO, NRSP, POMFB, SVDP, TMFB, UBANK, Chakwal

64 - 94,947 2,666,433,458 149,026 600,364,527 131,883 3,677,475,646 -

AKHU, FINCA, FMFB, JWS, KASHF, KBL, MMFB, NRSP, RCDP, TMFB, UBANK, Chiniot

20 - 48,051 1,907,968,160 104,816 261,479,263 73,631 2,371,540,081 -

AKHU, ASA, CSC, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, TMFB, UBANK, D.G. Khan

38 - 80,727 3,920,467,833 507,669 1,721,877,895 90,110 3,824,246,876 -

AKHU, AMFB, ASA, DAMEN, FFO, FINCA, FMFB, JWS, KASHF, KBL, MCBIB, MMFB, NRSP, NRSP-B, POMFB, PRSP, RCDP, TMFB, UBANK, WASIL, Faisalabad

170 - 294,281 9,968,001,511 518,328 2,670,153,142 495,026 11,899,981,555 -

AKHU, AMFB, ASA, DAMEN, FFO, FINCA, FMFB, JWS, KASHF, KBL, MCBIB, MMFB, NRSP, NRSP-B, OPD, POMFB, RCDP, TMFB, UBANK, WASIL, Gujranwala

128 - 224,119 8,331,415,311 339,045 1,614,999,001 363,320 10,290,174,023 -

AKHU, AMFB, ASA, FINCA, FMFB, JWS, KASHF, KBL, MCBIB, MMFB, NRSP, NRSP-B, POMFB, PRSP, TMFB, UBANK, Gujrat

62 - 89,463 3,277,021,644 126,884 1,318,096,253 113,105 3,283,198,421 -

AKHU, AMFB, ASA, FINCA, FMFB, JWS, KASHF, KBL, MMFB, NRSP, NRSP-B, PRSP, RCDP, TMFB, UBANK, Hafizabad

26 - 65,951 3,372,234,201 127,591 359,029,384 77,349 3,127,726,342 -

AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, PRSP, RCDP, TMFB, UBANK, Jhang

64 1 140,525 6,796,117,944 270,711 752,131,791 179,414 5,214,647,445 -

AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, POMFB, TMFB, UBANK, Jhelum

40 - 85,313 2,248,536,729 116,778 711,757,960 145,058 4,555,938,131 -

AKHU, AMFB, ASA, CSC, DAMEN, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, OLP, RCDP, TMFB, UBANK, Kasur

92 - 143,012 5,403,617,024 241,818 796,559,736 232,322 5,630,997,517 -

AGAHE, AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP-B, PRSP, RCDP, TMFB, UBANK, WASIL, Khanewal

61 - 117,758 6,276,329,742 434,081 1,136,484,421 160,890 4,997,979,921 -

AKHU, AMFB, FINCA, FMFB, KASHF, KBL, MMFB, MO, NRSP, NRSP-B, SVDP, TMFB, UBANK, Khushab

40 - 79,027 3,167,715,295 237,985 551,108,335 112,656 3,478,733,084 -

AGAHE, AKHU, AMFB, ASA, CSC, DAMEN, FINCA, FMFB, JWS, KASHF, KBL, MCBIB, MMFB, NRSP, NRSP-B, OLP, POMFB, PRSP, RCDP, TMFB, UBANK, WASIL, Lahore

217 - 284,315 10,697,594,613 22,926,605 48,978,596,495 506,845 12,455,508,404 -

AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, PRSP, RCDP, TMFB, UBANK, Leyyah

73 - 155,799 8,829,902,157 444,901 1,295,844,236 146,127 5,395,145,963 -

AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP-B, PRSP, TMFB, UBANK, Lodhran

35 - 116,228 8,623,906,597 380,874 1,720,087,125 116,776 4,893,122,936 -

AKHU, AMFB, ASA, FINCA, FMFB, JWS, KASHF, KBL, MMFB, NRSP, POMFB, PRSP, TMFB, UBANK, Mandi Bahauddin

48 - 78,058 3,251,572,616 88,680 653,670,384 119,422 3,809,394,265 -

AKHU, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, TMFB, UBANK, Mianwali

32 - 61,438 1,790,694,642 186,383 510,072,496 87,865 2,592,440,207 -

AKHU, AMFB, ASA, FFO, FINCA, FMFB, KASHF, KBL, MCBIB, MMFB, NRSP, NRSP-B, RCDP, TMFB, UBANK, WASIL, Multan

88 - 196,589 10,416,834,077 519,967 4,381,776,590 241,167 7,381,336,800 -

AGAHE, AKHU, ASA, FFO, FINCA, FMFB, KASHF, KBL, MMFB, MOJAZ, NRSP, NRSP-B, PRSP, TMFB, UBANK, Muzaffargarh

77 - 179,932 9,998,727,333 335,976 1,192,819,880 221,093 7,063,879,432 -

AKHU, ASA, DAMEN, FFO, FINCA, FMFB, JWS, KASHF, KBL, MMFB, NRSP, OLP, RCDP, TMFB, UBANK, WASIL, Nankana Sahib

63 - 95,827 3,719,153,416 60,863 290,369,736 144,199 3,321,654,383 -

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PUNJAB Cont.



AKHU, ASA, FINCA, FMFB, JWS, KASHF, KBL, MMFB, MOJAZ, NRSP, PRSP, TMFB, UBANK, Narowal

53 - 105,930 3,802,995,708 101,819 813,378,325 151,099 4,914,998,713 -

AKHU, AMFB, ASA, CSC, DAMEN, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, OLP, PRSP, RCDP, TMFB, UBANK, Okara

80 - 148,955 7,690,641,988 320,956 1,304,292,532 197,847 5,394,521,814 -

AKHU, AMFB, ASA, CSC, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, PRSP, RCDP, TMFB, UBANK, Pakpattan

38 - 76,510 4,148,877,858 172,306 483,907,904 87,754 2,875,483,993 -

AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MCBIB, MMFB, NRSP, NRSP-B, TMFB, UBANK, Rahimyar Khan

88 - 245,306 15,762,052,260 587,653 3,690,359,869 307,911 11,287,689,799 -

AGAHE, AKHU, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, SMFC, TMFB, UBANK, Rajanpur

50 - 123,983 6,236,164,641 312,729 1,379,088,626 128,316 5,726,105,638 -

AKHU, AMFB, ASA, FINCA, FMFB, GBTI, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, TMFB, UBANK, Rawalpindi

81 8 154,701 4,404,219,265 385,741 13,985,800,157 115,755 2,663,310,210 -

AKHU, AMFB, ASA, CSC, DAMEN, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, PRSP, RCDP, TMFB, UBANK, Sahiwal

65 - 126,190 6,267,798,490 295,105 1,029,057,062 208,564 6,053,937,227 -

AKHU, AMFB, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, OLP, POMFB, PRSP, RCDP, TMFB, UBANK, Sargodha

87 - 187,541 7,361,584,007 279,890 1,178,014,669 275,459 8,444,408,067 -

AKHU, AMFB, ASA, DAMEN, FFO, FINCA, FMFB, JWS, KASHF, KBL, MMFB, NRSP, OLP, POMFB, PRSP, RCDP, TMFB, UBANK, WASIL, Sheikhupura

104 - 156,451 5,569,332,829 132,039 685,784,719 194,196 4,657,955,596 -

AKHU, AMFB, ASA, DAMEN, FINCA, FMFB, JWS, KASHF, KBL, MCBIB, MMFB, MOJAZ, NRSP, NRSP-B, POMFB, PRSP, RCDP, TMFB, UBANK, Sialkot

93 - 178,047 6,958,616,094 243,167 2,369,008,054 250,592 7,348,464,065 -

AKHU, AMFB, ASA, DAMEN, FINCA, FMFB, JWS, KASHF, KBL, MMFB, NRSP, NRSP-B, PRSP, RCDP, TMFB, UBANK, Toba Tek Singh

65 - 124,849 5,853,805,597 235,096 979,998,352 200,238 5,332,823,030 -

AGAHE, AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, TMFB, UBANK, Vihari

59 - 134,243 7,436,734,300 248,068 1,359,921,766 146,363 5,413,196,263 -

Total 2,568 24 5,046,981 232,498,759,321 33,487,660 109,168,722,092 6,784,468 204,647,833,226 12,600,000

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SINDH



AKHU, ASA, FMFB, KASHF, KBL, MMFB, NRSP, POMFB, SMFB, TMF, TMFB, UBANK, Badin

39 - 50,963 1,712,051,612 264,047 289,382,184 61,909 1,896,798,732 -

AMFB, ASA, FMFB, KASHF, KBL, MMFB, SMFB, SRSO, TMF, TMFB, UBANK, Dadu

36 - 62,010 2,899,579,070 100,835 1,004,180,288 35,061 1,864,862,413 -

Advans, AKHU, AMFB, ASA, FINCA, FMFB, KBL, MMFB, SMFB, SRSO, TMFB, UBANK, Ghotki

26 - 49,296 2,685,192,951 149,308 564,113,756 23,724 1,598,602,323 -

Advans, AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, SMFB, SSF, TMF, TMFB, UBANK, Hyderabad

41 - 64,281 2,335,938,828 184,752 2,127,211,812 80,217 2,500,708,584 -

AKHU, FMFB, KBL, MMFB, SRSO, TMFB, UBANK, Jacobabad

7 - 13,477 547,088,714 30,220 95,634,350 9,192 304,691,649 -

ASA, MMFB, POMFB, SMFB, SRSO, SSF, TMF, TMFB, Jamshoro

15 - 30,999 668,444,412 13,055 4,313,401 10,104 112,714,626 -

Advans, AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, SMFB, TMFB, UBANK, Karachi

142 - 471,898 6,846,895,590 6,351,022 78,773,599,042 213,126 6,907,958,968 -

FMFB, KBL, MMFB, SRSO, TMFB, UBANK, Kashmore

7 - 20,130 1,207,699,294 40,244 308,557,070 13,535 773,658,263 -

AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, SDS, SMFB, SRSO, TMF, TMFB, UBANK, Khairpur

40 - 68,343 3,654,131,358 117,918 1,452,994,924 56,221 2,662,805,163 -

Advans, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, SMFB, SRSO, TMF, TMFB, UBANK, Larkana

36 - 61,599 3,410,849,314 145,279 1,708,615,765 65,710 3,030,948,041 -

ASA, FMFB, KASHF, KBL, MMFB, NRSP-B, SMFB, SRSO, SSF, TMF, TMFB, UBANK, Matyari

20 - 34,592 1,606,341,475 50,177 377,058,770 38,180 1,052,714,430 -

Advans, AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, SMFB, SSF, TMF, TMFB, UBANK, Mirpur Khas

46 - 68,532 2,793,202,902 212,535 948,674,992 55,077 2,248,522,488 -

AMFB, ASA, FMFB, KASHF, KBL, MMFB, NRSP-B, OLP, POMFB, SDS, SMFB, SRSO, SSF, TMF, TMFB, UBANK, Naushahro Feroze

46 - 71,041 3,111,181,157 51,835 321,719,033 46,635 1,748,732,421 -

Advans, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, SMFB, SRSO, SSF, SSSF, TMF, TMFB, Nawabshah

35 - 47,096 1,894,536,145 45,260 345,736,108 35,732 971,797,962 -

AMFB, ASA, FMFB, KASHF, KBL, MMFB, NRSP, POMFB, SMFB, SRSO, SSF, TMF, TMFB, UBANK, VDO, Sanghar

59 1 98,418 3,755,908,995 115,553 644,139,953 76,440 2,099,951,278 -

MMFB, Sehwan Sharif

- - - - 952 421,056 - - -

TMFB, UBANK, Shaheed Benazirabad

4 - 9,933 754,769,822 16,334 71,499,354 5,307 365,247,827 -

ASA, KASHF, KBL, MMFB, SMFB, SRSO, TMF, TMFB, UBANK, Shehdad Kot

28 - 41,364 2,205,349,441 83,470 490,197,137 35,675 1,653,749,395 -

AMFB, ASA, FMFB, KASHF, KBL, MMFB, SMFB, SRSO, TMFB, UBANK, Shikarpur

13 - 28,638 1,306,184,704 56,744 318,892,867 22,030 955,775,143 -

TMFB, UBANK, Sujawal

1 - 452 31,196,999 414 3,573,064 - - -

Advans, AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP-B, SMFB, SRSO, TMF, TMFB, UBANK, Sukkur

42 - 77,024 4,077,430,746 174,128 2,302,294,113 60,520 2,727,162,153 -

AKHU, AMFB, ASA, FINCA, FMFB, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, SMFB, SSF, TMF, TMFB, UBANK, Tando Allahyar

17 - 34,488 1,462,854,868 111,182 291,208,154 30,334 928,436,318 -

MMFB, SMFB, Tando Jam

1 - - - 1,522 487,983 - - -

AKHU, AMFB, FMFB, KASHF, KBL, MMFB, NRSP, SMFB, SSF, TMF, TMFB, UBANK, Tando Muhammad Khan

10 - 16,966 905,640,222 77,156 219,145,823 20,553 802,594,541 -

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SINDH Cont.



AKHU, ASA, FMFB, KBL, MMFB, SMFB, TMF, TMFB, UBANK, Tharparkar

26 - 47,873 2,102,311,539 40,391 447,315,906 21,141 1,341,593,880 -

AKHU, ASA, FMFB, KASHF, KBL, MMFB, NRSP, SMFB, SSF, TMF, TMFB, UBANK, Thatta

30 - 43,166 1,620,464,844 149,574 448,590,916 33,434 1,410,738,263 -

AMFB, ASA, FINCA, FMFB, KBL, MMFB, POMFB, SMFB, TMF, TMFB, UBANK, Umer Kot

29 - 67,721 2,740,221,423 63,056 733,517,890 31,293 1,479,773,645 -

Total 796 1 1,580,300 56,335,466,421 8,646,963 94,293,075,712 1,081,150 41,440,538,506 2,400,000

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AZAD JAMMU AND KASHMIR (AJK)



AKHU, KBL, MMFB, NRSP, TMFB, UBANK, Bagh

10 - 16,701 681,013,869 84,103 110,660,939 21,845 746,319,765 -

AKHU, MMFB, NRSP, TMFB, Bhimber

9 - 12,192 398,413,358 7,396 8,405,568 12,858 383,881,600 -

AKHU, FINCA, MMFB, NRSP, POMFB, TMFB, Kotli

16 - 19,682 821,517,347 91,442 126,101,911 26,743 842,636,892 -

AKHU, AMFB, FINCA, KBL, MMFB, NRSP, NRSP-B, TMFB, UBANK, Mirpur

13 - 9,935 453,416,520 19,366 1,497,877,836 12,807 487,034,305 -

AKHU, AMFB, FINCA, FMFB, KBL, MMFB, NRSP, NRSP-B, TMFB, UBANK, Muzaffarabad

17 - 27,045 1,301,637,035 681,625 3,496,816,167 24,222 1,066,853,636 -

AKHU, MMFB, TMFB, Neelum

3 - 2,488 44,277,100 6,547 4,048,282 2,488 44,277,100 -

AKHU, KBL, MMFB, NRSP, TMFB, Poonch

10 - 18,576 615,269,983 83,940 75,836,809 25,810 831,412,367 -

AKHU, MMFB, NRSP, TMFB, Sudhnati

7 - 9,518 320,160,137 29,787 2,455,445 13,597 380,318,300 -

Total 85 - 116,137 4,635,705,349 1,004,206 5,322,202,957 140,370 4,782,733,966 -

GILGIT-BALTISTAN (GB)



AKHU, FMFB, MMFB, NRSP-B, TMFB, Astore

3 - 1,945 167,585,842 5,180 228,303,225 2,305 112,605,582 -

AKHU, FMFB, MMFB, NRSP-B, TMFB, Diamer

3 - 596 37,503,731 4,910 341,763,828 531 33,218,064 -

AKHU, FMFB, MMFB, NRSP-B, TMFB, Ghanche

6 - 3,159 238,188,384 10,492 551,563,838 3,543 209,932,839 -

AKHU, FMFB, KBL, MMFB, NRSP-B, Ghizer

16 - 13,049 945,853,099 30,667 968,091,674 13,719 934,711,196 -

AKHU, AMFB, FINCA, FMFB, KBL, MMFB, NRSP-B, TMFB, UBANK, Gilgit

30 1 20,875 1,316,416,454 100,890 10,159,903,670 21,447 1,202,773,000 -

AKHU, FMFB, MMFB, NRSP-B, TMFB, Skardu

9 - 6,222 590,578,395 20,981 608,758,012 6,802 545,743,515 -

Total 67 1 45,846 3,296,125,905 173,120 12,858,384,247 48,347 3,038,984,196 -

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FEDERALLY ADMINISTRATED TRIBAL AREAS (FATA)



AKHU, MMFB, TMFB, Bajaur Agency

6 - 6,580 129,253,950 10,408 6,230,529 6,580 129,253,950 -

AKHU, MMFB, TMFB, Khyber Agency

7 - 7,150 155,694,600 22,827 12,974,605 7,150 155,694,600 -

AKHU, MMFB, TMFB, Kurram Agency

3 - 3,290 78,645,100 1,768 912,768 3,290 78,645,100 -

AKHU, MMFB, TMFB, Mohmand Agency

2 - 2,020 44,090,100 950 13,740 2,020 44,090,100 -

AKHU, MMFB, TMFB, North Waziristan Agency

1 - 344 6,936,500 86 337,095 344 6,936,500 -

AKHU, MMFB, TMFB, Orakzai Agency

2 - 1,818 41,771,090 3,069 2,072,759 1,818 41,771,090 -

MMFB, TMFB, South Waziristan Agency

- - - - 12,911 18,829,408 - - -

Total 21 - 21,202 456,391,340 52,019 41,370,904 21,202 456,391,340 -

ISLAMABAD CAPITAL TERRITORY (ICT)



AKHU, AMFB, FINCA, FMFB, GBTI, KASHF, KBL, MMFB, NRSP, NRSP-B, POMFB, TMFB, UBANK, ICT

31 - 311,334 1,171,343,470 511,587 23,706,873,223 105,817 3,870,583,061 -

Total 31 - 311,334 1,171,343,470 511,587 23,706,873,223 105,817 3,870,583,061 -

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20

END NOTES

1,2 The microwatch publication has been updated in the current quarter to include four new indicators. The additional indicators pertain to Islamic microfinance, enterprise lending, asset backed (collateralized) lending and branchless banking. 3 The potential micronance market estimate has been updated by PMN from 27.4 million to 20.5 million. The methodology for the revised figure has been explained in the note “Estimating Potential Market Size For Microcredit In Pakistan” published by PMN on December 2015

REPORTING ORGANIZATIONS

Reporting PeriodCategory MFP

Q1 Q4

Advans Pakistan Microfinance Bank Limited

Apna Microfinance Bank Limited

FINCA Microfinance Bank Limited

Kushhali Microfinance Bank Limited

MCB Islamic Bank Limited

Mobilink Microfinance Bank Limited

NRSP Bank Limited

Pak-Oman Microfinance Bank Limited

Sindh Microfinance Bank Limited

Telenor Microfinance Bank Limited

The First MicrofinanceBank Limited

MFB

Microfinance Bank Licensed and prudentially regulated by the State Bank of Pakistan to exclusively

service microfinance market

U Microfinance Bank Limited

AGAHE Pakistan

Akhuwat

ASA Pakistan Limited

BRAC Pakistan

CSC Empowerment and Inclusion Programme

DAMEN Support Programme

FFO Support Programme

Islamic Relief Pakistan

JWS Pakistan

Kashf Foundation

Micro Options Support Programme

MOJAZ Support Programme

Naymet Trust

Organization for Poverty Reduction and Community Training Program

Rural Community Development Programmes

SAATH Microfinance Foundation Pakistan

Saaya Microfinance Company

SAFCO Support Foundation

Soon Valley Development Program

MFI

Microfinace institution providing specialized microfinance services

Wasil Foundation

Al-Mehran Rural Development Organization

Ghazi Barotha Taraqiati Idara

National Rural Support Programme

Punjab Rural Support Programme

Sarhad Rural Support Programme

Sindh Rural Support Organization

RSP

Rural support programme running microfinance operation as part of multi-dimensional rural

developement programme

Thardeep Microfinance Foundation

Badbaan Development Community Microfinance Company

OPD Support Program

ORIX Leasing Pakistan Limited

Shadab Rural Development Organization

Shah Sachal Sami Foundation

Support With Working Solutions

Other

Organizations running microfinance operations as part of multi-dimension service offering

Villagers Development Organization

1st Floor, 85-East, Kamran Centre, Blue Area, Islamabad Email: [email protected] www.pmn.org.pk

Author: Zeenoor Sohail Sheikh Design & Layout: Pakistan Microfinance Network Copyright © April 2020 Pakistan Microfinance Network

a quarterly update on microfinance outreach in …€¦ · microcredit outreach reached 7.3 million...

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