KMBL celebrates highest recovery mark & deposit base for fiscal year 2023

KARACHI: Khushhali Microfinance Bank Limited (KMBL), the first-specialized microfinance bank in Pakistan, commemorated its achievement for the fiscal year 2023 (FY 2023). The newly established recovery unit of the microfinance bank has set new benchmarks, achieving a milestone of over PKR 01 Billion in recoveries from the charge-off portfolio through its newly established recovery unit and call centre, says a Press release.
The microfinance bank also surpassed its deposit target, achieving PKR 101 Billion in deposits. These results highlight KMBL’s remarkable resilience during challenging times. The achievement is largely attributed to the trust and confidence of retail (individual) depositors, constituting 90% of the total deposit and emphasizing KMBL’s strong relationship with its customers.
To celebrate this accomplishment, the KMBL Team organized an in-house ceremony led by President & CEO Aameer Karachiwalla, accompanied by the management committee of KMBL. The event was a moment of pride and reflection, highlighting the collective efforts that contributed to the bank’s success.
President and CEO Aameer Karachiwalla shared his thoughts on the achievement, stating, “This remarkable achievement is a testament to the dedication of the entire Khushhali Team and the unwavering trust our customers place in us. We are proud to be a catalyst for positive change in the lives of the communities we serve. ”
Chief Business Officer, Muhammad Aftab Alam, echoed the sentiment, saying, “Our focus on customer-centric solutions and sustainable practices has been integral to our success. We are committed to fostering financial inclusion and driving economic growth in our communities. He emphasized that the KMBL team has to remain focused on responsible lending and quality growth.”
Looking ahead, Khushhali Microfinance Bank Limited remains dedicated to its mission of striving for excellence and adopting sustainable practices for the institution’s continued growth and its service to the community and customers.