KARACHI: The pre-tax profit of Khushali Microfinance Bank of Rs. 1.8 billion increased by 50 percent against last year's profit of Rs. 1.2 billion.
An announcement here on Monday said that the annual operating results were presented at the annual general meeting of the shareholders of the Bank
It said that the increase in profit results from continued growth in balance sheet and improved non-fund income.
The Bank maintains the largest network of 141 branches/service centers and enjoys the largest market share in terms of gross loan portfolio in the micro-finance sector. Portfolio quality indicators of the bank remained intact, with growth in loan book primarily led by the agriculture sector lending, the statement further pointed out.
Khushhali Microfinance Bank is majority owned by a consortium of investors including one of Pakistan's largest banks (UBL), and Blue Chip international investors with expertise in the Micro, Small & Medium Enterprise finance.
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