Khushhali Microfinance Bank

Last updated
Khushhali Microfinance Bank
Company type Unlisted public company
Industry Microfinance
Founded2000;25 years ago (2000)
Founder Government of Pakistan
Headquarters Islamabad, Pakistan
Key people
Aameer Karachiwalla (President/CEO)
Products
  • Loans
  • Savings
  • Consumer Banking
RevenueDecrease2.svgRs. 6.358 billion (US$22 million) (2023)
Decrease2.svgRs. −5.957 billion (US$−21 million) (2023)
Total assets Decrease2.svgRs. 115.121 billion (US$400 million) (2023)
Total equity Decrease2.svgRs. 3.716 billion (US$13 million) (2023)
Owner United Bank Limited (27.82%)
Website khushhalibank.com.pk
Footnotes /references
Financials as of 31 December 2023 [1]

Khushhali Bank Limited is a Pakistani microfinance bank headquartered in Islamabad. [2] It is the largest microfinance lender in Pakistan. [3]

Contents

History

Khushhali Bank was founded in 2000 by the Government of Pakistan and was developed with the funding from the Asian Development Bank. [4]

Controversy

In 2024, Federal Ombudsman Secretariat for Protection Against Harassment (FOSPAH) ruled against the bank and a number of its employees, in a harassment case filed by a female employee of the bank. [5]

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References

  1. "UBL Annual Report 2023" (PDF). UBLDigital. Retrieved 26 March 2024.
  2. Farooq, @2paisay, Mariam Umar (May 28, 2023). "Khushhali bank to force convert its hybrid debt into equity. But is it fair?". Profit by Pakistan Today.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  3. Ahmad, Ahtasam (July 17, 2022). "Microfinance Banks on the verge of crisis?". Profit by Pakistan Today.
  4. "Khushhali Bank to open 10 new branches". The Express Tribune. 8 March 2017.
  5. "خوشحالی مائیکروفنانس بینک میں ہراسانی سے متاثرہ خاتون کے حق میں فیصلہ، بینک اور عملے کے ارکان پر 95 لاکھ روپے جرمانہ". BBC Urdu. 15 November 2024.