Abhi, TPL-backed microfinance bank eyes IPO this month

July 30, 2026 (MLN): Abhi Microfinance Bank, the digital lender majority-owned by fintech firm Abhi, is preparing to go public this month.

The bank intends to float close to 14% in new shares to raise between Rs2bn and Rs3bn.

Arif Habib Ltd., Topline Securities Ltd. and Growth Securities are acting as financial advisors on the deal, according to Bloomberg.

Abhi Pvt. owns close to three-fourths of the lender, with the remaining stake held by TPL Corp., a conglomerate spanning financial services and real estate.

The two companies took over the institution previously known as Finca Microfinance Bank about a year and a half ago, shifting its focus toward digital operations and shutting down branches that were not turning a profit.

TPL Corp Limited (PSX: TPL) and Abhi (Private) Limited had acquired a majority shareholding in FINCA Microfinance Bank Limited, in January 2025.

To recall, on November 12, 2024, the State Bank of Pakistan (SBP) granted its final approval to TPL and Abhi (Private) Limited to acquire up to 94.8% shareholding in FINCA Microfinance Bank Limited. 

Prior to the change in ownership, the microlender had been recording annual losses of up to $5m for five consecutive years, as per CEO Omair Ansari.

Since the takeover, the bank swung to a profit exceeding $3.5m in its first year and is now on pace to approach $10m in profit this year.

Its capital position is also improving, with the buffer projected to surpass the minimum regulatory requirement within the next year, he said.

On future plans, the bank is eyeing expansion into gold-backed lending, a segment it believes remains largely untapped in Pakistan, pointing to India's Muthoot Finance Ltd as a comparable model.

 It is also working to secure a license for gold tokenization and to set up a crypto payments corridor connecting customers across Pakistan and the Middle East.

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