Islamabad: The Competition Commission of Pakistan (CCP) has granted approval for TPL Corp Limited and ABHI (Private) Limited to acquire a combined 94.8 percent share in FINCA Microfinance Bank Limited. This transaction marks a significant development in the microfinance sector, involving key players in Pakistan’s financial landscape.

According to a statement by Ministry of Climate Change and Environmental Coordination, the acquisition will see TPL Corp Limited securing a 33.17 percent shareholding, while ABHI (Private) Limited will acquire 61.61 percent of the bank’s shares. The current shareholders of FINCA Microfinance Bank include FINCA Microfinance Coöperatief U.A., International Finance Corporation (IFC), Triodos Fair Share Fund, and Acumen Pakistan.

The CCP conducted a competition assessment focused on the microfinance lending services sector within the country. The assessment concluded that the acquisition would not create a dominant position for the buyers in the market.

TPL Corp Limited, a publicly listed company, is known for its strategic investments in sectors such as insurance, real estate, and technology start-ups. Meanwhile, ABHI (Private) Limited is a licensed company providing investment finance services under Pakistan’s non-banking finance regulations.

FINCA Microfinance Bank Limited, regulated by the State Bank of Pakistan, has been a key player in the microfinance banking sector. The sellers involved in this transaction are organizations dedicated to sustainable investment and development in emerging markets.