close
Tuesday February 11, 2025

CCP approves TPL Corp and ABHI’s acquisition of FINCA Microfinance Bank

By Our Correspondent
January 14, 2025
The Competition Commission of Pakistan (CCP) building can be seen in this image. — APP/File
The Competition Commission of Pakistan (CCP) building can be seen in this image. — APP/File

KARACHI: The Competition Commission of Pakistan (CCP) has approved the acquisition of a 94.8 per cent stake in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited. The bank’s current shareholders include FINCA Microfinance Cooperatief UA, the International Finance Corporation (IFC), the Triodos Fair Share Fund, and Acumen Pakistan.

Under the terms of the sale and purchase agreement, TPL Corp Limited will acquire 33.17 per cent of the bank’s shares, while ABHI (Private) Limited will take a 61.61 per cent stake. In its competitive assessment, the CCP analysed the microfinance lending market in Pakistan and concluded that the acquisition would not create a dominant market position for the acquirers.

TPL Corp Limited, a publicly listed investment company, operates across multiple sectors, including insurance, real estate, security, asset tracking, and technology start-ups. Meanwhile, ABHI (Private) Limited is a licenced private company providing investment finance services under the country’s non-banking finance company regulations.

FINCA Microfinance Bank Limited is a licenced institution regulated by the State Bank of Pakistan (SBP).