Network Microfinance Bank Limited started its operation on 1st January 2005 as a Public Limited Company Listed on Karachi Stock Exchange. It is in-fact a transformation of Network Leasing Corporation Limited, having the privilege of being regarded as the micro leasing pioneer in Pakistan since its inception in 1995.
The bank's main focus is on poverty alleviation by providing access to the poor to micro finance facility whereby they could establish their new micro enterprise or bring improvement in their existing business. The bank is concentrating on two main areas i.e. providing of financial services for mobilization of small savings and extending help to poor entrepreneurs including women through individual and group based financing to support income generation on sustainable basis, so as to bring improvement in their quality of life. The bank’s strategy is well aligned with the national policy development on poverty alleviation as well as with Pakistan Poverty
Alleviation Fund working under the aegis of the Government of Pakistan and the World Bank.
The bank has established its unique position among peer institutions because of the following reasons.
- it has strong backing and commitment from its main sponsors JS & KASB Groups.
- it is first Microfinance bank listed on stock exchange ( The Karachi Stock Exchange).
- it is first Microfinance bank in Pakistan to have started micro housing loans.
- it is first Microfinance institution to offer normal chequing, saving and current account banking facilities to its clients.
- it is first Microfinance bank to start mobile branch banking in order to deliver financial and banking services at the doorsteps of the underprivileged communities.
- The bank has been supported by the Pakistan Poverty Alleviation Fund under the aegis of the World Bank through a Credit Line of Rs. 225 Million.
Category: Payday loans