Press Releases

01
January 1970

TAMEER MICROFINANCE BANK assigned A/A1 entity ratings

Tameer Microfinance Bank has been assigned the long term and short term entity ratings "A" (Single A) and "A1" (A One) by the Pakistan Credit Rating Agency (PACRA).

JCR VIS Credit Rating Company, an affiliate of Japan Credit Rating Agency has also upgraded the entity ratings of Tameer Microfinance Bank from A-/A-2 (Single A-/ A2) to A/A- (Single A/A one). The outlook on the assigned ratings is 'Stable'.

CEO and President Tameer Microfinance Bank Nadeem Hussain said, I am extremely pleased with our revised rating. This is a reflection of our hard work, ownership and targeted focus on the target market. Despite the current economic conditions, Tameer Bank will continue to address the needs of the unbanked.

These ratings reflect a low expectation of credit risk. The rating upgrade also shows healthy growth in the asset base of the bank in 2010. The advance portfolio doubled in the year which highlights Tameer's strategic focus on core banking operations. During the year, the credit risk also remained stable. Moreover, a reduced rate of delinquency was observed due to qualitative changes in the lending process. Profitability showed increased contribution from branchless banking.

In the future, the bank envisages establishing itself as one of the leading Microfinance Institutions in the country by expanding its geographic coverage, while gradually enhancing its market share. Meanwhile easypaisa helps in building a diversified revenue base.

About Tameer Microfinance Bank Limited
Tameer Microfinance Bank Limited (TMBL) is a majority owned subsidiary of Telenor Pakistan (51%). The bank was incorporated in 2005 to provide micro-finance and related financial services to the less privileged and unbanked segment of the society, with an aim to contribute towards poverty eradication under the Microfinance Institution ordinance, 2001. The Bank currently has 40 branches, 18 service centers, 38 community centers, and 4 booths in the low-income areas within Pakistan. It is the first bank to have approval to conduct branchless banking business in Pakistan.