TPL Corp joins forces with Abhi to acquire FINCA microfinance bank

By MG News | Category Equity | September 20, 2024 at 11:52 AM GMT+05:00

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September 20, 2024 (MLN): TPL Corp Limited (PSX: TPL) and Abhi (Private) Limited have jointly entered into a Share Purchase Agreement along with FINCA Microfinance Coöperatief U.A to jointly acquire FINCA Microfinance Bank Limited.

This acquisition sets the stage for a transformative expansion of financial services across the country and represents a significant milestone in the journey toward financial inclusion in Pakistan, it said in a stock filing on Friday.

TPL, with its diverse business portfolio, sees this acquisition as an opportunity to enhance its impact in the financial sector and contribute to the creation of a more inclusive financial ecosystem in Pakistan, the company added.

"The acquisition shall remain subject to all regulatory approvals and requisite closing conditions," the notice further reads.

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