Press Release

VIS Update on Entity Ratings of FINCA Microfinance Bank Limited

Karachi, March 25, 2025: VIS Credit Rating Company Limited has placed the outstanding ratings of FINCA Microfinance Bank (‘FINCA mfb’ or the ‘Bank’) at ‘A-/A2’ (Single A Minus/A Two) on ‘Rating Watch- Developing’ status. The previous rating action was announced on April 30, 2024.

In continuation of our previous press release dated April 30, 2024, VIS Credit Rating Company Limited (VIS) notes the successful completion of the acquisition of majority shareholding in FINCA Microfinance Bank Limited (‘FINCA mfb’ or the ‘Bank’) by Abhi (Private) Limited (‘Abhi’) and TPL Corp Limited (‘TPL’). The transaction was finalized on January 24, 2025, with Abhi acquiring a 61.61% stake and TPL securing 33.17% ownership. The financial statements/information of the Bank have not been available since September 2022. The assigned rating, therefore, reflects the position of the Bank as of the last available financial information.

Following this development, VIS will review and update the Bank’s ratings upon the availability of revised business plan and financials and other information.

For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk.

Applicable Rating Criteria:
Micro-Finance Banks
https://docs.vis.com.pk/docs/MicroFinance-Oct-2023.pdf
VIS Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright March 25, 2025 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.