Khushhali Microfinance Bank

Khushhali Microfinance Bank
Company type	Unlisted public company
Industry	Microfinance
Founded	2000; 24 years ago
Founder	Government of Pakistan
Headquarters	Islamabad, Pakistan
Key people	Aameer Karachiwalla (President/CEO)
Products	Loans; Savings; Consumer Banking;
Revenue	Rs. 6.358 billion (US$22 million) (2023)
Net income	Rs. −5.957 billion (US$−21 million) (2023)
Total assets	Rs. 115.121 billion (US$400 million) (2023)
Total equity	Rs. 3.716 billion (US$13 million) (2023)
Owner	United Bank Limited (27.82%)
Website	khushhalibank.com.pk
	Footnotes / references; Financials as of 31 December 2023

Khushhali Bank Limited is a Pakistani microfinance bank headquartered in Islamabad.^[2] It is the largest microfinance lender in Pakistan.^[3]

History

Khushhali Bank was founded in 2000 by the Government of Pakistan and was developed with the funding from the Asian Development Bank.^[4]

Controversy

In 2024, Federal Ombudsman Secretariat for Protection Against Harassment (FOSPAH) ruled against the bank and a number of its employees, in a harassment case filed by a female employee of the bank. ^[5]

References

^ "UBL Annual Report 2023" (PDF). UBLDigital. Retrieved 26 March 2024.
^ Farooq, @2paisay, Mariam Umar (May 28, 2023). "Khushhali bank to force convert its hybrid debt into equity. But is it fair?". Profit by Pakistan Today.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
^ Ahmad, Ahtasam (July 17, 2022). "Microfinance Banks on the verge of crisis?". Profit by Pakistan Today.
^ "Khushhali Bank to open 10 new branches". The Express Tribune. 8 March 2017.
^ "خوشحالی مائیکروفنانس بینک میں ہراسانی سے متاثرہ خاتون کے حق میں فیصلہ، بینک اور عملے کے ارکان پر 95 لاکھ روپے جرمانہ". BBC Urdu. 15 November 2024.

External links

Official website

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[AR2023-1] "UBL Annual Report 2023" (PDF). UBLDigital. Retrieved 26 March 2024.

[2] Farooq, @2paisay, Mariam Umar (May 28, 2023). "Khushhali bank to force convert its hybrid debt into equity. But is it fair?". Profit by Pakistan Today.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)

[3] Ahmad, Ahtasam (July 17, 2022). "Microfinance Banks on the verge of crisis?". Profit by Pakistan Today.

[4] "Khushhali Bank to open 10 new branches". The Express Tribune. 8 March 2017.

[5] "خوشحالی مائیکروفنانس بینک میں ہراسانی سے متاثرہ خاتون کے حق میں فیصلہ، بینک اور عملے کے ارکان پر 95 لاکھ روپے جرمانہ". BBC Urdu. 15 November 2024.

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