In a milestone move for Pakistan’s financial sector, Abhi Private Limited and TPL Corp Limited have received approval from the State Bank of Pakistan (SBP) to acquire FINCA Microfinance Bank Limited. This acquisition is anticipated to drive financial inclusion across the country by integrating FINCA’s established microfinance framework with Abhi’s cutting-edge digital solutions and TPL Corp’s expertise in retail, insurance, and technology.
The Abhi-TPL collaboration promises to reshape Pakistan’s financial landscape, leveraging the strengths of both companies to extend financial products and services to underserved communities, including rural populations, small businesses, and low-income individuals. By uniting FINCA’s extensive microfinance experience with TPL’s reach and Abhi’s digital prowess, the alliance aims to reach millions of unbanked citizens, supporting Pakistan’s ongoing efforts to expand financial access nationwide.
FINCA Pakistan has been a trailblazer in the country’s microfinance industry for over a decade, offering loans, savings options, and financial education to families across Pakistan. Known for its customer-focused approach, FINCA introduced Pakistan’s first mobile network-agnostic digital wallet and now operates in over 100 cities. The bank’s initiatives have been especially influential in empowering women entrepreneurs, helping them achieve economic independence.
Through this acquisition, FINCA’s services will be further enhanced, offering an expanded range of digital and traditional financial products tailored to meet the needs of both individuals and small enterprises. This commitment to financial inclusion aligns with Pakistan’s economic goals, helping a broader audience access essential tools for growth and prosperity.
Abhi’s CEO and Co-founder Omair Ansari expressed the company’s mission to make financial solutions universally accessible. “At Abhi, our mission has always been to make financial solutions accessible to everyone,” he stated. “This collaboration with TPL brings us closer to delivering impactful, life-changing financial services to millions of Pakistanis who have had limited access to formal banking.”
For TPL Corp, this acquisition aligns with its dedication to leading digital transformation in Pakistan’s financial services sector. With FINCA’s established market presence, TPL intends to introduce customer-centric solutions, prioritizing the unique needs of underserved communities across Pakistan. TPL’s extensive portfolio across various sectors, combined with FINCA’s microfinance foundation, creates a strong foundation for launching financial products aimed at fostering financial independence and economic resilience.
Jeff Smith, Chair of FINCA Pakistan’s Board of Directors, highlighted the strategic importance of the acquisition in building upon FINCA’s mission. “FINCA Pakistan has built a robust microfinance network, creating economic opportunities, especially for women,” Smith remarked. “We are confident that with Abhi and TPL’s shared vision, this acquisition will bring new capital and digital capabilities to accelerate financial inclusion.”
FINCA’s current customers can expect a seamless transition, with access to an expanded suite of services soon. Abhi’s digital-first approach will complement FINCA’s offerings, bridging the gap between traditional microfinance and digital banking in Pakistan. The new range of services aims to simplify financial access for those in underserved areas, creating a pathway to greater economic empowerment.
In the coming months, the combined entity will roll out tailored financial solutions to further uplift Pakistan’s underserved communities, supporting economic growth and reinforcing the nation’s commitment to financial inclusion. This acquisition not only bolsters Pakistan’s microfinance landscape but also sets the stage for a new era of digital banking designed to empower millions with accessible and convenient financial services.