Abb Takk News

Micro-finance Banks Turning 30m People Into Active Savers

Web Desk(April 14, 2018): Micro-finance banks helping to improve economy of the country by  turning 30 million people of rural and urban areas of the country into active savers and account holders –more than the number of commercial bank accounts in the country, which were about 16 million by the end of 2017.According to the Pakistan Micro-finance Network (PMN), the number of active savers using the branch-based banking has reached 8.7 million compared to 228 million savers who use the branch-less banking system. The latter number includes accounts maintained by micro-finance banks through m-wallet accounts.

The number of active borrowers stands at 5.8 million with the total number of loans standing at 1.8 billion, spread over 106 districts of the country. The average loan size is Rs. 48,695 per borrower, whereas the average saving size is Rs6,033 per saver.

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