Khushhali Microfinance Bank (KMBL) plans to open 10 new branches in 2017. Pakistan’s largest and oldest micro finance bank is aiming to increase its reach and customer base through expansion in the rural markets and the northern areas of Pakistan.
The 10 new branches will cater to the agriculture sector and small and medium enterprises. In addition to the branch openings, KMBL is connecting remote areas through service centers, which will act as touch points for people living in distant areas. The focus of this expansion is to further group lending amongst communities of small farmers.
For the customer’s ease, all cash transactions will use Easy Paisa, Jazz Cash and Omni. KMBL believes in strengthening the infrastructure of the country through working together, which is the idea behind partnering with telecommunication companies for this venture.
Speaking about the driving factor behind the expansion plan, President Khushhali Microfinance Bank, Ghalib Nishtar, said that opportunity drives us and there is a huge untapped potential in the remote and northern markets.
“One of Pakistan’s biggest challenges is that despite all the efforts, the penetration remains low in rural markets but our aim is to deepen our reach and go closer to our clients. The rural economy has a lot of potential to increase livelihood and improve food security. As market leaders, we feel responsible on behalf of the entire sector to increase outreach to the customers in need”, he added.—PR