Khushhali Microfinance Bank extends home loans worth Rs 10.9 billion to 17,800 clients
ISLAMABAD, Pakistan: Khushhali Microfinance Bank Limited (KMBL) has won the award for “Best Microfinance Bank” in Pakistan, with a vision of sustainable development, through professional excellence.
In 2018, he pioneered the ‘Khushhali Home Plus’ loan facility, providing up to Rs 1 million to low-income people who need affordable finance for renovation and improvement of existing homes. .
This facility has already provided loans worth Rs. 08 billion to over 15,900 low-income people, to date, to accelerate socio-economic growth across Pakistan.
The government’s grant and mark-up program, introduced in July 2021, has further enriched KMBL’s high-priced home loan program to broaden and enrich the bank’s portfolio. The Khushhali Apna Makaan (KAM) under the government subsidized scheme has approved a total amount of over Rs 3 billion. It has served 1,400 people in rural areas, disbursing a cumulative amount of more than 1.8 billion rupees, while the total amount approved for this segment is 2.2 billion rupees. Of these, more than 294 were female clients, who secured cumulative loans of Rs 409 million, while the total amount approved for the female segment to date is Rs 510 million.
KMBL’s overall housing portfolio includes 17,800 low-income people, who have been served by disbursing a cumulative amount of Rs 10.9 billion, while the total amount approved for this portfolio is over Rs 11 billion. Over 13,000 customers in rural areas have been served so far, disbursing Rs 8 billion. A total of 2,515 clients were served in this portfolio by disbursing loans worth Rs 1.6 billion.
KMBL Chairman and CEO, Mr. Ghalib Nishtar said, “The resounding success of the ‘Apna Makaan’ home loan facility reflects the client-centric approach and resourceful performance of Khushhali Microfinance Bank. Improving the quality of accommodation to raise the standard of living of the underprivileged masses is one of our main strategic objectives. This effort is also in line with the bank’s inspiring Corporate Social Responsibility (CSR) program, which aims to improve: financial inclusion, poverty reduction, empowerment, public health, education and the environmental Protection. »