A QUARTERLY UPDATE ON MICROFINANCE OUTREACH ......Kashf, FMFB & NRSP add the most policy holders, a...

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A QUARTERLY UPDATE ON MICROFINANCE OUTREACH IN PAKISTAN

ISSUE 54: Q4 (OCT-DEC) 2019

Quarter Change

Q4 - 2019 Q3 - 2019 Units %

Number of Branches/Units 4,036 3,925 111 2.8

Number of Districs Covered 138 137 1 0.7

Penetration Rate(%) 35.4 35.1 0 0.7

Active Borrowers 7,249,943 7,201,488 48,455 0.7

Gross Loan Portfolio (PKR Millions) 305,753 298,152 7,601 2.6

Number of Loans Disbursed 2,624,190 2,006,076 618,114 30.8

Disbursements (PKR Millions) 123,935 80,217 43,718 54.5

Average Loan Size(PKR) 47,228 39,987 7,241 18.1

Number of Savers 47,642,271 42,319,269 5,323,002 12.6

Value of Savings (PKR Millions) 267,591 241,655 25,937 10.7

Average Saving Balance (PKR) 5,617 5,710 -94 -1.6

Number of Policy Holders 8,479,576 8,465,620 13,956 0.2

Sum Insured (PKR Millions) 266,748 260,258 6,490 2.5

The last quarter of the calendar year 2019 observed growth in all major microfinance indicators. This was also the period that experienced the highest number of loans disbursed in a single quarter with over 2.6 million worth disbursements of almost PKR 124 billion, an increase of 31% and 54.5% respectively, from the previous quarter. Concerning Microcredit, the Gross Loan Portfolio (GLP) increased by 2.6% to surpass PKR 305 billion while active borrowers clocked at 7.25 million. The growth in GLP was fueled by Khushhali Microfinance Bank (KBL), First Microfinance Bank (FMFB) & U Microfinance Bank (Ubank) which added a cumulative of over PKR 9 billion, as MFBs continued to hold the largest share of GLP with 70%. KBL also remains the largest provider of Microcredit in terms of GLP as its market share increased to 17.5% followed by FMFB at 10.2%. In terms of Active Borrowers, the end of the year saw Telenor Microfinance Bank (TMFB) become the largest provider with over 896 thousand clients and a market share of 12.4% followed by KBL & Akhuwat with 12% each. However, Akhuwat continues to have the largest geographic footprint as it expanded its outreach to 90 districts, followed by KBL and FMFB in 82 and 81 districts respectively. The increase in clients was also driven by banks i.e. KBL, FMFB & TMFB, which added over 75 thousand clients combined. The market share by peer group remained unchanged as MFBs held 49% and NBMFCs 51% of the clients. The share of Islamic microfinance segment remained stagnant at 13% in terms of clients and 8% in terms of GLP. Marginal change was observed in terms of lending based on asset type as secured lending increased to 10% in terms of clients and 17% in terms of GLP. The focus of Microcredit activities remains on the marginalized segments with 51% of total outreach attributable to women while 53% of outreach concentrated in rural districts. The sector also experienced an increase in PAR>30 days from 3.8 to 4.8 this quarter as GLP increased substantially. The breakdown by peer group indicated that the PAR of MFBs rose from 4.8% to 6.1%, while MFIs and RSPs experienced marginal increase to 1.3% and 2.7% respectively as well. Microsavings witnessed substantial growth as the number of savers and value of savings grew by 12.6% & 10.7% respectively. MFBs, being the sole contributor to savings, added PKR 26 billion with primary contribution from Mobilink Microfinance Bank (MMFB) which added PKR 8.8 billion, followed by KBL and Ubank which added PKR 5 billion and PKR 4 billion respectively. Nevertheless, the average deposit balance reduced from 5,710 to 5,617 during the quarter. In terms of active savers, major contribution came from TMFB and MMFB on the back of an increase in m-wallets as they increased to 36 million from 19 million in the previous quarter thereby taking the market share of m-wallets to 76%, while value of deposits through m-wallets stood at PKR 28 billion compared to PKR 25 billion previously. Male savers still held a majority share with 77% of total savers and 85% of value of savings, while 69% of the total savers were based out of urban regions. Microinsurance grew as policy holders increased to 8.47 million while the sum insured improved by 2.5% to reach PKR 266.7 billion. The quarter saw Kashf, FMFB & NRSP add the most policy holders, a total of almost a 100,000, while in terms of sum insured, KBL, FMFB and Kashf led the sector by adding over PKR 8 billion. Kashf remained the largest provider in terms of policy holders and sum insured with 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 46% and 53%, respectively. The penetration rate of the sector stood at 35.4% while the total number of branches increased to 4,036 as Microfinance services expanded outreach to 138 districts.

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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DISTRIBUTION OF ACTIVE BORROWERS

Top 5 Districts: Greatest Increase in Microcredit Outreach

District Active Borrowers (Q4) Growth (Q3 to Q4)

Net %

1 Karachi 588,390 100,058 20.5

2 Narowal 104,479 23,297 28.7

3 Nawabshah 44,798 7,759 21.0

4 Sialkot 181,543 7,686 4.4

5 Dadu 72,093 5,784 8.7

DISTRIBUTION OF ACTIVE SAVERS

Top 5 Districts: Greatest Increase in Savings Outreach

District Active Savers (Q4) Growth (Q3 to Q4)

Net %

1 Lahore 22,596,408 9,491,319 72.4

2 Peshawar 3,632,550 2,688,288 284.7

3 Muzaffarabad 659,833 434,216 192.5

4 Multan 507,553 127,261 33.5

5 Sargodha 266,358 66,742 33.4

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

Q3 3,925 - - - - - 1,417 1,786 707 15

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

Active Borrowers

Q3 7,201,488 1,772,073 5,273,644 155,771 546,475 6,655,013 3,512,066 2,441,728 1,233,262 14,432

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

Gross Loan Portfolio(PKR Millions)

Q3 298,152 62,711 208,502 26,939 40,674 257,478 207,807 57,949 32,072 325

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

Portfolio at Risk > 30 days (Percentage)

Q3 - - - - -

Q4 - - - - -

Average Loan Balance (PKR)

Q3 41,401 35,388 39,537 172,940 74,430 38,689 59,170 23,733 26,006 22,485

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

Number of Loans Disbursed

Q3 2,006,076 321,108 1,651,455 33,513 - - 1,109,258 628,782 265,486 2,550

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

Disbursements (PKR Millions)

Q3 80,217 14,076 58,936 7,205 - - 43,780 25,080 11,251 106

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

Average Loan Size (PKR)

Q3 39,987 43,835 35,687 215,005 - - 39,468 39,887 42,379 41,635

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

Districts with Highest Growth (Net) by Province

Province District Active Borrowers (Q4) Growth (Q3toQ4) Potential Microfinance Market Penetration Rate(%)

A Net % B (A/B)x100

1 Muzaffarabad 29,679 71 .2 - -

2 Kotli 19,893 -730 -3.5 - -

3

AJK

Poonch 17,782 1,101 6.6 - -

1 Nasirabad 5,463 726 15.3 - -

2 Quetta 4,916 -323 -6.2 - -

3

Balochistan

Lasbela 1,784 540 43.4 - -

1 Gilgit 21,973 -1,148 -5 - -

2 Ghizer 13,470 130 1 - -

3

Gilgit-Baltistan

Skardu 6,265 -219 -3.4 - -

1 Khyber Agency 7,739 -151 -1.9 - -

2 Bajaur Agency 7,343 -970 -11.7 - -

3

FATA

Kurram Agency 3,641 -428 -10.5 - -

1 ICT ICT 31,435 591 1.9 - -

1 Haripur 24,369 -122 -.5 - -

2 D.I. Khan 16,149 1,235 8.3 - -

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Khyber-Pakhtunkhwa

Abbottabad 15,985 -825 -4.9 - -

1 Faisalabad 300,585 -5,658 -1.8 - -

2 Lahore 298,082 -8,782 -2.9 - -

3

Punjab

Rahimyar Khan 252,668 -12,168 -4.6 - -

1 Karachi 588,390 100,058 20.5 - -

2 Sanghar 100,482 3,334 3.4 - -

3

Sindh

Sukkur 79,486 -2,217 -2.7 - -

3.8 4.8 0.8 2.4 1.5

4.8 6.1 1.3 2.7 1.8

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3.84.8

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MFPs with Largest Net Increase in Active Borrowers

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

Q3 to Q4

MFP

Net %

1 KBL 31,230 3.7 12

2 MOJAZ 30,911 - .4

3 FMFB 24,464 5.3 6.7

4 OCT 21,941 - .3

5 TMFB 20,073 2.3 12.4

MFPs with Largest Percentage Increase in Active Borrowers

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

Q3 toQ4

MFP

Net %

1 MCBIB 409 17.8 0

2 AGAHE 4,429 17.1 0.4

3 FFO 3,872 13.3 0.5

4 POMFB 6,067 11.3 0.8

5 SRSP 670 11.0 0.1

Largest Providers of Microcredit (Active Borrowers)

MFP Active Borrowers (Q4) Market Share (% of Active Borrowers)

1 TMFB 896,694 12.4

2 KBL 871,228 12

3 AKHU 865,548 11.9

4 NRSP 843,151 11.6

5 KASHF 515,886 7.1

Largest Providers of Microcredit (Gross Loan Portfolio)

MFP GLP (Q4) Market Share (% of GLP)

1 KBL 53,607,461,191 17.5

2 FMFB 31,065,369,541 10.2

3 NRSP-B 27,768,760,755 9.1

4 TMFB 27,695,262,338 9.1

5 NRSP 22,963,788,579 7.5

MFPs with Largest Geographic Spread

MFP AKHU KBL FMFB UBANK KASHF

Geographic Spread (No. of Districts) 90 82 81 76 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

Q3 42,319,269 39,090,906 3,228,363 23,378,759 18,940,510 39,090,906 - 3,228,363 -

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

Value of Savings (PKR Millions)

Q3 241,655 240,347 1,307 216,511 25,143 240,347 - 1,307 -

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

Average Saving Balance (PKR Millions)

Q3 5,710 6,148 405 9,261 1,327 6,148 - 405 -

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

Q3 39 16 11 5 11 - 5 -

Q4 37 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 (Q4) Market Share (% of Value of Savings)

1 KBL 63,882,456,705 23.9

2 TMFB 41,393,721,539 15.5

3 FMFB 38,429,596,116 14.4

4 MMFB 29,303,457,605 11

5 NRSP-B 26,671,225,746 10

Districts with Highest Outreach (Active Savers)

District Active Savers (Q4) Increase (Q3 to Q4)

Net %

1 Lahore 22,596,408 9,491,319 42

2 Karachi 6,299,015 -4,205,664 -66.8

3 Peshawar 3,632,550 2,688,288 74.0

4 Bahawalpur 771,523 64,969 8.4

5 Bhawalnagar 674,574 23,134 3.4

MFPs with Largest Increase in Active Savers (Net)

MFP Increase in Active Savers (Q3) to (Q4)

Net %

1 TMFB 2,832,064 19.7

2 MMFB 1,992,687 11.3

3 KBL 173,095 7.3

4 UBANK 99,126 13.4

5 FINCA 80,614 6.7

MFPs with Largest Increase in Value of Savings (Net)

MFP Increase in Value of Savings (Q3 to Q4)

Net %

1 MMFB 8,794,187,811 42.9

2 KBL 5,042,924,439 8.6

3 UBANK 4,090,136,411 21.3

4 TMFB 3,843,256,274 10.2

5 FMFB 2,811,394,469 7.9

Largest Providers of Micro-savings (Active Savers)

MFP Active Savers (Q4) Market Share (% of Active Savers)

1 MMFB 19,641,534 41.2

2 TMFB 17,182,314 36.1

3 NRSP 2,955,060 6.2

4 KBL 2,541,626 5.3

5 FINCA 1,283,677 2.7

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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

Q3 8,465,620 3,836,390 4,591,589 2,784,411 4,197,004 1,484,205 -

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

Sum Insured (PKR Millions)

Q3 260,258 - - 133,681 88,575 38,002 -

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

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

Q3 39 23 11 17 2 8 9 5 1

Q4 37 20 10 15 2 7 8 5 -

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MICRO-INSURANCE PROVISION

Districts with Highest Outreach (Policy Holders)

District Policy Holders (Q4) Increase (Q3 to Q4)

Net %

1 Lahore 530,919 -12,925 -2.4

2 Faisalabad 505,302 -302 -.1

3 Gujranwala 371,058 4,553 1.2

4 Rahimyar Khan 305,096 2,419 .8

5 Sargodha 278,029 -10,004 -3.5

Top 5 Districts: Greatest Increase in Micro-Insurance Outreach

District Policy Holders (Q4) Growth (Q3 to Q4)

Net %

1 Narowal 145,877 28,725 24.5

2 Sialkot 249,688 12,881 5.4

3 Jhelum 146,373 11,821 8.8

4 Bhawalnagar 223,574 11,057 5.2

5 Sahiwal 211,334 10,913 5.4

Largest Providers of Micro-Insurance (Policy Holders)

MFP Policy Holders (Q4) Market Share (% of Policy Holders)

1 KASHF 2,605,045 30.7

2 NRSP 1,294,024 15.3

3 KBL 998,672 11.8

4 AKHU 865,548 10.2

5 NRSP-B 632,718 7.5

Largest Providers of Micro-Insurance (Sum Insured)

MFP Sum Insured (Q4) Market Share (% of Sum Insured)

1 KASHF 65,616,829,774 24.6

2 KBL 59,463,611,191 22.3

3 NRSP 36,598,848,383 13.7

4 FMFB 31,117,421,091 11.7

5 TMFB 26,774,781,215 10

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 82 - 115,983 4,471,175,094 970,393 5,482,746,636 138,527 4,656,212,048 - -

Balochistan 34 - 15,807 1,046,009,674 689,412 1,211,884,227 21,028 1,141,889,714 500,000 3.2

Gilgit-Baltistan 67 1 47,465 3,184,037,722 194,183 13,170,453,139 49,850 2,923,081,775 - -

FATA 21 - 23,557 456,589,740 68,419 28,710,037 23,557 456,589,740 - -

ICT 30 - 31,435 947,810,633 301,109 23,991,838,866 104,931 3,831,068,384 - -

Khyber-Pakhtunkhwa 177 17 163,136 8,437,737,305 4,571,065 15,735,640,699 183,923 5,240,097,330 5,000,000 3.3

Punjab 2,754 24 5,106,239 230,425,317,957 32,361,068 111,159,966,236 6,845,687 206,607,670,213 12,600,000 40.5

Sindh 828 1 1,746,321 56,784,773,805 8,486,622 96,810,122,895 1,112,073 41,890,957,789 2,400,000 72.8

GRAND TOTAL 3,993 43 7,249,943 305,753,451,928 47,642,271 267,591,362,735 8,479,576 266,747,566,991 20,500,000 35.4

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OUTREACH (District Level)

BALUCHISTAN

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


NRSP, TMFB, Awaran

- - - - 11,599 1,633,988 - - -

TMFB, Barkhan

- - - - 1,014 702,438 - - -

TMFB, Bolan

- - - - 3 3,609 - - -

MMFB, Chagai

- - - - 16 1,976 - - -

TMFB, UBANK, Dera Bugti

- - 456 25,580,209 3 17,077 - - -

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

6 - 208 10,465,835 24,274 45,657,935 193 10,283,973 -

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

6 - 1,301 70,345,955 19,394 23,377,488 673 33,937,487 -

TMFB, Jhal Magsi

- - - - 706 365,591 - - -

MMFB, TMFB, Kalat

- - - - 1,604 1,227,780 - - -

NRSP, Kech (Turbat)

- - - - 68,778 10,292,276 2 60,000 -

MMFB, TMFB, Kharan

- - - - 691 1,175,423 - - -

MMFB, TMFB, Khuzdar

- - - - 1,610 1,280,780 - - -

TMFB, Kohlu

- - - - 904 794,789 - - -

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

4 - 1,784 49,297,283 46,580 3,146,475 8,389 218,620,871 -

AKHU, MMFB, TMFB, Loralai

1 - 25 750,000 5,637 5,668,548 25 750,000 -

MMFB, TMFB, Mastung

- - - - 1,732 767,708 - - -

-Musakhel

- - - - - - - - -

FMFB, KBL, MMFB, POMFB, TMFB, Nasirabad

3 - 5,463 427,602,814 15,670 113,924,942 5,499 429,048,364 -

TMFB, Nushki

- - - - 3,649 1,647,047 - - -

NRSP, TMFB, Panjgur

- - - - 23,111 4,070,179 - - -

AKHU, MMFB, TMFB, Pishin

1 - 62 1,830,000 2,248 2,098,103 62 1,830,000 -

MMFB, TMFB, Qila Abdullah

- - - - 1,135 641,095 - - -

MMFB, TMFB, Qila Saifullah

- - - - 575 91,596 - - -

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

11 - 4,916 320,286,133 451,496 955,350,668 4,593 307,507,574 -

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BALUCHISTAN Cont.



TMFB, Sherani

- - - - 337 270,739 - - -

AKHU, FMFB, MMFB, TMFB, Sibi

2 - 1,592 139,851,445 3,452 32,851,582 1,592 139,851,445 -

TMFB, Washuk

- - - - 2 9 - - -

MMFB, TMFB, Zhob

- - - - 2,699 4,460,676 - - -

MMFB, TMFB, Ziarat

- - - - 493 363,711 - - -

Total 34 - 15,807 1,046,009,674 689,412 1,211,884,227 21,028 1,141,889,714 500,000

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KHYBER-PAKHTUNKHWA (KP)



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

18 1 15,985 893,686,840 93,845 1,159,239,024 15,165 667,690,379 -

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

5 - 5,355 243,211,352 9,068 248,954,859 4,174 73,890,400 -

AKHU, MMFB, TMFB, Batgram

1 - 438 7,692,750 717 126,093 438 7,692,750 -

KBL, MMFB, Buner (Daggar)

1 - 795 34,629,275 4,161 116,332,707 856 39,149,275 -

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

7 - 5,095 298,771,026 54,945 320,183,307 5,009 172,924,485 -

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

11 - 8,980 693,814,926 57,357 1,596,568,125 9,337 652,986,617 -

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

11 - 16,149 1,050,279,410 39,200 730,493,598 17,723 783,353,602 -

MMFB, TMFB, Hangu

- - - - 11,356 2,955,981 - - -

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

14 15 24,369 1,124,707,962 73,711 456,051,505 48,590 543,103,567 -

MMFB, SRSP, TMFB, Karak

1 - 1,746 15,093,200 10,606 5,162,854 - - -

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

7 - 4,449 195,685,211 26,701 475,936,556 3,103 121,875,131 -

AMFB, MMFB, TMFB, Kohistan

1 - - - 14,541 29,746,465 - - -

AKHU, MMFB, TMFB, Lakki Marwat

1 - 646 9,512,850 22,602 9,871,272 646 9,512,850 -

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

3 - 87 52,569,970 29,541 91,733,390 7 405,528 -

AKHU, KBL, MMFB, NRSP, TMFB, Malakand

3 - 3,269 124,480,367 75,995 309,672,829 3,286 125,320,367 -

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

16 - 13,925 629,816,470 43,339 460,530,227 14,818 416,385,110 -

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

15 - 14,719 880,368,465 133,052 443,291,464 13,383 361,382,074 -

KBL, MMFB, TMFB, Mingora

1 - 3,261 201,316,945 14,648 548,403,976 3,479 210,036,945 -

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

16 - 15,152 613,905,828 55,249 278,097,455 15,302 401,862,264 -

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

23 - 15,008 751,241,652 3,632,550 7,312,465,319 15,559 352,606,401 -

FMFB, MMFB, TMFB, Shangla

1 - 307 15,776,003 56,646 24,911,653 307 15,776,003 -

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

11 1 8,482 391,170,756 92,895 973,102,949 8,338 201,019,158 -

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

8 - 3,493 186,299,197 13,030 138,924,571 2,977 59,417,574 -

AKHU, MMFB, TMFB, Tank

2 - 1,426 23,706,850 3,667 1,335,754 1,426 23,706,850 -

MMFB, TMFB, Upper Dir

- - - - 1,643 1,548,769 - - -

Total 177 17 163,136 8,437,737,305 4,571,065 15,735,640,699 183,923 5,240,097,330 5,000,000

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PUNJAB



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

64 15 108,299 2,858,653,106 192,802 786,223,576 190,185 3,765,786,925 -

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

77 - 216,189 12,635,108,799 771,523 5,409,410,853 250,719 9,183,688,933 -

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

41 - 105,348 5,989,964,941 382,938 979,141,232 94,836 3,747,809,078 -

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

84 - 214,958 13,573,737,074 674,574 3,285,490,267 223,574 8,656,638,693 -

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

65 - 98,396 2,633,099,957 142,887 649,614,860 134,744 3,745,945,656 -

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

20 - 49,883 1,924,967,926 97,561 261,112,657 74,356 2,401,721,843 -

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

36 - 82,040 3,883,959,606 320,296 1,702,337,271 92,721 3,925,195,038 -

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

207 - 300,585 10,044,833,484 505,159 2,926,041,650 505,302 11,996,122,167 -

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

152 - 232,129 8,584,353,283 337,564 1,729,685,316 371,058 10,562,312,901 -

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

61 - 90,363 3,273,722,626 123,445 1,304,087,524 115,661 3,362,923,292 -

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

32 - 68,017 3,360,580,295 124,644 426,601,591 80,601 3,209,921,453 -

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

77 1 140,165 6,728,287,146 257,230 928,502,075 174,803 5,099,345,674 -

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

39 - 87,016 2,287,048,355 112,791 732,046,162 146,373 4,618,777,161 -

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

91 - 145,205 5,495,619,438 238,884 981,110,627 232,022 5,777,697,089 -

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

60 - 111,729 5,826,636,351 201,157 1,085,940,082 154,679 4,813,158,370 -

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

37 - 78,714 3,102,684,113 232,364 630,546,158 109,496 3,435,813,826 -

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

242 - 298,082 11,340,120,041 22,596,408 47,279,010,769 530,919 13,215,851,530 -

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

75 - 160,805 8,975,087,131 295,404 1,486,593,766 149,382 5,436,155,911 -

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

35 - 114,117 8,275,633,334 374,264 1,422,024,573 114,878 4,878,463,496 -

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

50 - 79,498 3,180,672,308 84,334 687,619,553 120,657 3,894,396,696 -

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

32 - 67,717 1,959,544,530 182,095 529,262,797 90,893 2,702,090,958 -

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

117 - 197,730 10,063,366,908 507,553 5,134,597,554 245,700 7,397,190,489 -

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

76 - 180,254 9,727,817,541 330,448 1,488,861,412 218,046 6,904,566,011 -

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

62 - 97,129 3,652,577,719 55,755 354,894,568 147,042 3,355,832,004 -

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PUNJAB Cont.



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

54 - 104,479 3,696,337,969 96,604 735,858,191 145,877 4,699,621,233 -

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

80 - 149,217 7,530,975,663 321,206 1,490,421,483 207,939 5,716,452,859 -

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

38 - 75,150 4,097,426,201 173,714 573,577,160 88,445 2,914,385,942 -

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

88 - 252,668 15,904,387,101 575,875 3,845,570,121 305,096 11,269,840,512 -

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

50 - 123,520 6,052,564,156 297,934 1,515,292,954 132,814 5,760,383,164 -

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

111 8 161,278 4,454,058,758 374,146 12,621,650,143 120,368 2,751,194,456 -

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

67 - 125,106 6,166,003,254 287,317 1,253,730,137 211,334 6,101,498,899 -

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

97 - 195,382 7,514,883,619 266,358 1,177,169,079 278,029 8,605,373,700 -

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

108 - 154,011 5,523,917,652 124,724 806,577,410 191,925 4,608,610,299 -

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

106 - 181,543 7,098,356,350 232,426 2,354,449,498 249,688 7,376,624,511 -

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

66 - 125,026 5,719,816,071 224,746 1,023,802,697 197,911 5,242,571,460 -

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

57 - 134,491 7,288,515,149 243,938 1,561,110,471 147,614 5,473,707,983 -

Total 2,754 24 5,106,239 230,425,317,957 32,361,068 111,159,966,236 6,845,687 206,607,670,213 12,600,000

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SINDH



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

44 - 56,407 1,750,539,460 261,288 341,418,570 62,592 1,895,684,921 -

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

41 - 72,093 3,033,691,360 99,209 1,013,553,109 33,415 1,741,714,549 -

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

26 - 50,571 2,698,513,145 144,480 676,358,553 25,242 1,649,128,642 -

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

43 - 71,939 2,497,664,957 184,071 2,230,107,204 87,785 2,720,785,718 -

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

7 - 11,064 411,565,829 24,278 91,644,863 6,159 272,905,262 -

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

17 - 32,339 717,781,544 12,419 4,053,652 11,455 147,664,184 -

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

160 - 588,390 7,325,896,272 6,299,015 80,304,743,832 223,639 7,318,223,160 -

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

7 - 18,789 1,093,873,552 40,453 266,443,239 12,322 695,337,120 -

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

39 - 69,629 3,593,321,740 118,461 1,515,793,870 60,080 2,658,835,639 -

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

36 - 62,305 3,313,924,814 141,752 1,807,363,526 61,314 2,826,509,202 -

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

21 - 39,699 1,666,078,835 49,817 426,635,686 40,543 1,174,859,193 -

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

46 - 75,215 2,896,687,558 212,522 1,047,373,115 59,159 2,350,485,128 -

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

47 - 71,007 3,073,784,791 53,605 402,161,138 47,727 1,714,354,068 -

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

36 - 44,798 1,741,634,835 57,005 505,418,916 35,271 905,524,219 -

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

61 1 100,482 3,669,746,256 104,498 637,138,196 80,023 2,100,312,937 -

MMFB, Sehwan Sharif

- - - - 952 421,056 - - -

AMFB, TMF, TMFB, UBANK, Shaheed Benazirabad

4 - 15,832 943,238,563 6,440 8,853,745 6,872 436,710,782 -

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

24 - 40,057 2,056,641,783 49,340 535,784,091 30,427 1,426,793,777 -

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

13 - 27,297 1,227,678,588 50,297 321,619,228 18,839 890,336,999 -

NRSP, TMF, TMFB, UBANK, Sujawal

4 - 3,291 73,175,364 233 12,139,096 583 132,725 -

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

42 - 79,486 4,163,673,558 170,723 2,379,293,582 64,087 2,829,845,610 -

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

17 - 34,925 1,463,412,610 109,355 351,259,933 32,078 986,328,774 -

MMFB, SMFB, TMFB, Tando Jam

1 - 895 14,566,249 1,523 488,010 - - -

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

9 - 19,315 948,502,253 73,442 207,914,816 21,735 835,701,964 -

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SINDH Cont.



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

25 - 50,713 2,202,843,749 40,165 461,619,831 23,437 1,434,430,487 -

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

27 - 40,095 1,477,770,476 119,746 466,929,888 33,145 1,358,293,917 -

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

31 - 69,688 2,728,565,665 61,533 793,592,149 34,144 1,520,058,812 -

Total 828 1 1,746,321 56,784,773,805 8,486,622 96,810,122,895 1,112,073 41,890,957,789 2,400,000

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AZAD JAMMU AND KASHMIR (AJK)



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

9 - 15,838 623,829,465 82,556 106,155,646 19,429 682,473,404 -

AKHU, MMFB, NRSP, TMFB, Bhimber

9 - 11,994 371,585,702 6,753 8,500,347 13,141 378,153,300 -

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

14 - 19,893 782,694,224 90,688 120,478,919 27,506 841,828,691 -

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

13 - 9,922 449,724,865 17,570 1,580,143,721 11,822 465,089,243 -

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

18 - 29,679 1,326,076,564 659,833 3,580,457,017 26,839 1,104,437,792 -

AKHU, MMFB, TMFB, Neelum

2 - 1,697 23,952,600 422 513,422 1,697 23,952,600 -

AKHU, KBL, MMFB, NRSP, TMFB, Poonch

10 - 17,782 586,536,008 82,822 84,176,014 25,049 797,910,217 -

AKHU, MMFB, NRSP, Sudhnati

7 - 9,178 306,775,666 29,749 2,321,549 13,044 362,366,800 -

Total 82 - 115,983 4,471,175,094 970,393 5,482,746,636 138,527 4,656,212,048 -

GILGIT-BALTISTAN (GB)



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

3 - 1,974 165,024,031 5,022 252,244,219 2,284 111,153,829 -

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

3 - 618 32,587,607 4,349 933,030,634 552 28,148,714 -

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

6 - 3,165 234,101,024 10,352 605,639,780 3,525 207,426,531 -

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

16 - 13,470 904,066,433 29,733 990,651,843 14,200 895,085,991 -

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

30 1 21,973 1,285,947,197 124,111 9,735,895,832 22,389 1,163,464,547 -

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

9 - 6,265 562,311,430 20,616 652,990,830 6,900 517,802,163 -

Total 67 1 47,465 3,184,037,722 194,183 13,170,453,139 49,850 2,923,081,775 -

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FEDERALLY ADMINISTRATED TRIBAL AREAS (FATA)



AKHU, MMFB, TMFB, Bajaur Agency

6 - 7,343 140,344,900 9,399 6,382,273 7,343 140,344,900 -

AKHU, MMFB, TMFB, Khyber Agency

7 - 7,739 150,508,350 37,964 10,648,062 7,739 150,508,350 -

AKHU, MMFB, TMFB, Kurram Agency

3 - 3,641 72,217,700 1,605 769,320 3,641 72,217,700 -

AKHU, MMFB, TMFB, Mohmand Agency

2 - 2,225 45,148,600 922 13,740 2,225 45,148,600 -

AKHU, TMFB, North Waziristan Agency

1 - 415 7,940,000 57 232,602 415 7,940,000 -

AKHU, TMFB, Orakzai Agency

2 - 2,194 40,430,190 5,977 1,823,253 2,194 40,430,190 -

MMFB, TMFB, South Waziristan Agency

- - - - 12,495 8,840,788 - - -

Total 21 - 23,557 456,589,740 68,419 28,710,037 23,557 456,589,740 -

ISLAMABAD CAPITAL TERRITORY (ICT)



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

30 - 31,435 947,810,633 301,109 23,991,838,866 104,931 3,831,068,384 -

Total 30 - 31,435 947,810,633 301,109 23,991,838,866 104,931 3,831,068,384 -

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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

Q4 Q3

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 © July 2019 Pakistan Microfinance Network

A QUARTERLY UPDATE ON MICROFINANCE OUTREACH ......Kashf, FMFB & NRSP add the most policy holders, a...

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