Karachi: VIS Credit Rating Company Limited has placed the ratings of FINCA Microfinance Bank at ‘A-/A2’ under ‘Rating Watch- Developing’ status, following a recent acquisition. The previous rating action was last updated on April 30, 2024.
In a development affecting the microfinance sector, the majority shareholding in FINCA Microfinance Bank was acquired by Abhi (Private) Limited and TPL Corp Limited. The acquisition concluded on January 24, 2025, with Abhi obtaining a 61.61% stake and TPL securing 33.17% ownership.
The ratings reflect the bank’s position as per the last available financial information, with no updates since September 2022. The implications of the acquisition on FINCA Microfinance Bank’s financial health remain uncertain pending further disclosures.
The review status indicates a potential change in FINCA Microfinance Bank’s credit rating, as VIS continues to monitor the developments following the transaction.
