FINCA Microfinance Bank, Ltd. and Apna Microfinance Bank, Ltd. announced today that they are suspending merger talks after completing a comprehensive due diligence process.
Mr. Jahanzeb Khan, President and CEO of FINCA Bank Pakistan said: “The due diligence process demonstrated that a merger between FINCA Microfinance Bank and Apna Microfinance Bank will not be beneficial for our customers. We will continue to explore other options to expand our market share and further increase our impact on financial inclusion in Pakistan. We wish Apna Bank the best in its future operations.”
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Mr. Mian M. A. Shahid, Chairman of Apna Microfinance Bank, Ltd said. “FINCA and Apna have mutually decided not to move forward with a merger. We are committed to exploring other opportunities to enhance our position in the microfinance sector. We sincerely appreciate the engagement of FINCA Microfinance Bank throughout this process.”