Advans Pakistan seeks to provide MSMEs with access to financial services with a view to encouraging sustainable development in the country
History and vision: Advans Pakistan Microfinance Bank Limited (Advans Pakistan), the Advans group’s sixth greenfield, was created in 2012 and aims to offer a complete range of financial services to MSMEs. The microfinance sector in Pakistan has grown steadily over the past 10 years, with several players now active on the market, but still remains heavily focused on group lending methodology.
Network: Advans Pakistan MFB started its operations in Mehmoodabad, Karachi, the country’s economic and financial capital, on 7 January 2013, and has since opened more branches, service centres and permanent booths in the city.
Services: As a registered microfinance bank, Advans Pakistan provides micro and SME loans to accompany businesses in their expansion, ranging from PKR 10,000 (about EUR 75) to PKR 500,000 (about EUR 3,750) and current and savings accounts for both individuals and MSMEs. Additional services such as cheque clearing and transfers are also on offer. Advans Pakistan recently won an award from Microfinance Transparency – Transparent Pricing Initiative and the Pakistan Microfinance Network for its clear and transparent tariffs.