FINCA Microfinance Bank secures Rs800 million Tier II facility from PMIC.
LAHORE -- FINCA Microfinance Bank Pakistan has announced that it has secured an 8-year, Rs 800 million Tier II/subordinated bilateral loan facility from Pakistan Microfinance Investment Company (PMIC). The facility marks an inaugural Tier 2 transaction by PMIC and will be used by FINCA Pakistan to support its balance sheet expansion. The facility will contribute towards FINCA'S Tier II Capital for complying with the Capital Adequacy Ratio (CAR) requirement prescribed by the State Bank of Pakistan for Microfinance Banks.
The funds raised will be utilized in FINCA Pakistan's business operations and will enable the bank to meet financing requirements of over 240,000...
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