CCP approves acquisition of 94.8% stake in FINCA Microfinance Bank

ISLAMABAD: The Competition Commission of Pakistan (CCP) has given its approval for the acquisition of a 94.8% stake in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited. The bank’s current shareholders include FINCA Microfinance Coöperatief U.A., the International Finance Corporation (IFC), the Triodos Fair Share Fund, and Acumen Pakistan.

As per the Sale and Purchase Agreement, TPL Corp Limited will acquire 33.17% of the shares, while ABHI (Private) Limited will obtain a 61.61% stake in the bank.

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The CCP’s competition analysis primarily evaluated the microfinance lending market in Pakistan. The review concluded that the acquisition would not create a dominant position for the acquiring parties in the market.

TPL Corp Limited is a publicly traded investment company involved in diverse sectors such as insurance, real estate, security, asset tracking, and technology start-ups. On the other hand, ABHI (Private) Limited is a licensed private entity offering investment finance services under Pakistan’s non-banking finance company regulations.

FINCA Microfinance Bank Limited operates as a licensed microfinance bank under the supervision of the State Bank of Pakistan (SBP). The sellers involved in the deal—FINCA Microfinance Coöperatief U.A., IFC, Triodos Fair Share Fund, and Acumen Pakistan—are all entities committed to sustainable investment and fostering development in emerging markets.

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