TPL Corp and Abhi Limited are considering acquiring a majority shareholding in FINCA Microfinance Bank Limited. TPL Corp, an investment holding company, announced the partnership in a filing to the Pakistan Stock Exchange. They have entered into a non-binding term sheet with Abhi and are waiting for the State Bank of Pakistan’s approval to start due diligence. This potential acquisition comes after earlier discussions between FINCA and Apna Microfinance Bank Ltd were suspended in July. Apna announced that the merger negotiations were stopped after completing due diligence. The decision was made to explore other opportunities to secure the interests of stakeholders, depositors, borrowers, regulator, partners, and staff. This recent partnership between TPL Corp and Abhi Limited signals the potential for changes in the microfinance industry in Pakistan.
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