TPL Corp Limited (TPL) and Abhi Private Limited have finalized the acquisition of a majority shareholding in FINCA Microfinance Bank.
TPL Corp and Abhi had previously successfully secured the State Bank’s approval to acquire up to 94.8% stakes in FINCA.
The move was followed by the Competition Commission of Pakistan (CCP)’s approval to pave way for the acquisition of a majority stake in FINCA.
“In continuation to our earlier announcement dated November 12, 2024, we are pleased to announce that the acquisition of majority shareholding in FINCA Microfinance Bank Limited by TPL Corp Limited along with Abhi (Private) Limited has been successfully completed,” according to a PSX filing.
This transaction marks a major milestone in Pakistan’s microfinance sector, with TPL Corp and Abhi acquiring shares from existing stakeholders, including FINCA Microfinance Coöperatief UA and the International Finance Corporation (IFC), a Washington-based non-profit organization.
Under the agreement, TPL Corp will own 33.17% of FINCA bank, while Abhi Limited will hold the majority stake at 61.61%.
Established on June 26, 2008, FINCA received its license from SBP in August 2008, enabling it to operate as a licensed microfinance institution in Pakistan.
