Khushhali Microfinance Bank posts 40pc increase in pre-tax profits

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KARACHI: Khushhali Microfinance Bank Limited (KMBL) posted its financial results for the year 2017 on February 14, 2018, in Islamabad, posting appreciable growth in bottom line, accompanied with a dividend of Rs 0.53 per share. KMBL posted a pre-tax profit of Rs 2.49 billion, up 40 per cent against Rs 1.78 billion, same period last year. The increase in profit results from continued growth in the balance sheet and improved non-fund income.

The Bank maintains the largest network of 173 outlets and enjoys the largest market share in terms of loan portfolio, deposits and asset base in the micro-finance sector. Compared to last year, portfolio quality indicators also improved, with growth in loan book of 40 per cent primarily led by the agriculture sector lending. The Bank deposits expanded appreciably by over 100 per cent as compared to last year and a strong built up was seen in urban operations.