AP-MFB opens new head office

KARACHI: Advans Pakistan Microfinance Bank (AP-MFB) has relocated to a new head office at Islamic Chambers of Commerce in Karachi, The News learnt on Wednesday.

The launch event was attended by senior representatives of industry, regulatory bodies and microfinance sector, customers of Advans Pakistan, media, and others.

Speaking at the opening ceremony, CEO of the bank Guillaume Valence said the group Advans was an international venture, backed by multilateral and national development organisations.

The bank's objective was to positively impact lives of small business owners by providing them effective financial services, including business loans, and contribute to economic growth and employment of its countries of operations, he said.

In Pakistan, Advans is operating under State Bank’s regulation for microfinance banking. It has recently accelerated its expansion with multiple branches opened in Sindh in 2021 and 2022, with an expansion plan starting in 2023.