U Microfinance Bank tops SBP rankings for microfinance agriculture
credit
U Microfinance Bank, recognized as Pakistan's rapidly growing
microfinance institution, has received accolades for its outstanding
performance in agricultural credit during Fiscal Year 2023, as assessed by the
State Bank of Pakistan (SBP). U Bank's remarkable achievement positions it as a
leader in the microfinance industry for agricultural loans in the country,
securing the highest score.
U Bank has garnered an impressive score of 80.6 in SBP's
Agriculture Credit Scoring Model, a comprehensive assessment framework used to
evaluate and enhance agriculture financing provided by banks in Pakistan. This
score stands as the highest among all banks in the country, underscoring U
Bank's significant contribution to the notable 25 percent growth in
agricultural credit disbursement in Pakistan during FY2023, as recently reported
by the SBP.
In recognition of the bank's diligent efforts, Mr. Kabeer Naqvi,
President & CEO of U Microfinance Bank, commented, "The SBP has played
a pivotal role in revitalizing and supporting the agriculture sector,
especially in the aftermath of the devastating floods that impacted the
country's farmlands last year. We are proud to achieve this milestone, which
exemplifies U Bank's steadfast dedication to advancing financial inclusion and
empowering the backbone of our society—the agricultural industry."
As a prominent player in Pakistan's microfinance landscape, U
Bank remains resolute in its mission to foster economic growth across both
rural and urban sectors.
Source: Daily Pakistan