LOLC Microfinance Bank Limited has been honored with the “Best Turnaround Microfinance Bank” Award in the Medium & Small Tier Category by the Pakistan Microfinance Network (PMN), recognizing the Bank’s significant transformation, resilience and progress within Pakistan’s microfinance sector.
The recognition reflects a significant turnaround achieved through a focused transformation of the Bank’s portfolio quality, business growth and financial performance. Over the course of this transformation, PAR30 improved from 19.8% to 3.48%, the portfolio grew by 171%, and the Bank achieved profitability in March 2026. These milestones demonstrate the impact of disciplined execution, stronger risk management, operational improvements and a renewed focus on sustainable growth..
Commenting on the achievement, Mr. Farooq Rashid, Chief Executive Officer, LOLC Microfinance Bank, said: “This recognition belongs to our entire team. I sincerely thank our Chairman, Mr. Krishan Thilakaratne, for his continued faith in our people and our strategy. This award gives us even greater confidence to build on what we have achieved together.”
Mr. Nizar Noor Ali Momnani, Deputy Chief Executive Officer, highlighted the Bank’s ambition for the future: “This is an important milestone, but not the destination. Our focus now is to go further, increase our market penetration and make responsible microfinance more accessible and reachable for more customers across Pakistan. We are looking to introduce more customer-centric products and digital services to better facilitate the underserved segment. This progress would not have been possible without the dedication, resilience and commitment of our people, whose collective efforts continue to drive our transformation and strengthen our foundation for future growth.”
Mr. Ilsam Awfer, Chief Operating Officer, emphasized the operational foundation behind the Bank’s transformation: “Sustainable growth is built behind the scenes I am happy to witness the strong foundation we laid a couple of years before to ensure that credit quality, operational excellence and improving the customers convenience is making progressive results. I believe this will be a key reason for us to achieve the success. We are continuously working to further improve the customer experience by adding value to our existing products and processes.”
The Pakistan Microfinance Network (PMN) serves as a representative platform for Pakistan’s microfinance sector, bringing together microfinance banks, microfinance institutions and other stakeholders working towards greater financial inclusion..
The Bank views the award not simply as a recognition of past performance, but as a benchmark for the journey ahead. With a continued focus on customer reach, operational excellence, innovation and responsible growth, LOLC Microfinance Bank remains committed to making financial services more accessible to individuals, entrepreneurs and communities across Pakistan.
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