ABHI and TPL launch ABHI Microfinance Bank after FINCA acquisition

Pakistani fintech ABHI, in partnership with TPL Corp, has launched ABHI Microfinance Bank by renaming FINCA Microfinance Bank Limited following the acquisition of its stake. The initiative, approved by the State Bank of Pakistan (SBP), was announced at a launch event in Karachi.

SBP Governor Jameel Ahmed, speaking at the launch, said that, “This acquisition marks a significant step towards strengthening Pakistan’s financial ecosystem and expanding access to credit for unserved and underserved communities.” 

He emphasized that public-private partnerships like this play a crucial role in driving financial inclusion and empowering individuals and businesses.

The launch event, hosted by ABHI and TPL Corp, brought together international investors, industry leaders, and financial experts, highlighting a shared vision for transforming Pakistan’s financial sector. A major highlight was the unveiling of the official logo of ABHI Microfinance Bank. 

SBP Governor Ahmed reiterated the central bank’s target to increase bank account coverage to 75% of the adult population and reduce the gender gap to 25% by 2028. He also encouraged banks to leverage artificial intelligence, using cellular and satellite data, to create cost-effective financial services and improve access, usage, and quality of banking solutions.

Founded in 2021, ABHI operates in Pakistan, the UAE, Saudi Arabia, and Bangladesh, providing credit solutions, including the Earned Wage Access (EWA) facility. 

TPL Corp, an investment holding company with interests in insurance, real estate, transport, securities, technology, and financial services, joined hands with ABHI to strengthen the microfinance sector.

Last month, Abhi (Private) Limited and TPL Corp completed the acquisition of a 94.8% shareholding in FINCA Microfinance Bank Limited which was approved by the Competition Commission of Pakistan (CCP) on January 13, 2025. The transaction marks a significant development in Pakistan’s microfinance sector, as the two entities acquired stakes from the FINCA’s existing shareholders, including FINCA Microfinance Coöperatief U.A., International Finance Corporation (IFC), Triodos Fair Share Fund, and Acumen Pakistan.