Board of Directors*
|President & CEO||Mr. Imran Samad|
|Chief Financial Officer||Mr. Dilshad Hussain Khan|
|Company Secretary||Mr. Muhammad Irfan Zafar|
|Auditors||Mr. Naveed Zafar Ashfaq Jaffery & Co. Chartered Accountants|
|Legal Advisors||Mohsin Tayebaly & Co|
|Share Registrar||Central Depository Company of Pakistan Limited|
|Registered Head Office||3rd, Floor Federation House Abdullah Shah Ghazi Road Clifton, Karachi-75600|
Sindh Bank’s vision for promoting economic activity to empower the people of Pakistan and create employment opportunities, brings upon it an onerous responsibility to deliver results.
Thus the Bank’s policies are focused on:
- Enhancing small farmers access to institutional credit and supporting national strategy for increasing agricultural output by funding farm and non-farm projects.
- Promoting SME sector by providing financial solutions to small and medium sized entrepreneurs.
- Funding projects yielding economic benefits to the country.
- Supporting projects that empower women.
- Providing banking facilities in the unbanked areas particularly in the province of Sindh.
- Providing e-banking services to enable Bank’s customers to have fast and easy access meeting their banking requirements by installing the most modern and efficient technological applications that satisfy customers’ expectations.
- Fulfilling its Corporate Social Responsibility in all segments of the Society, particularly for promoting and enhancing education in Pakistan, by supporting and providing interest free loans to meritorious students for higher education, with job guarantee in Sindh Bank.
- Laying a sound foundation for the bank and delivering attractive value for the shareholders’ investment while remaining within the ambit of regulatory requirements.
Long-Term Rating A+
- Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
Short- Term Rating A-1
- Highest certainty of timely payment; Liquidity factors are excellent and supported by good fundamental protection factors. Risk factors are minor.
Sindh Microfinance Bank (SMFB) started its operations in May 2016 as a provincial level microfinance bank. Since then SMFB has grown sustainably with profitable operations from very beginning. To date the Bank has disbursed more 125k loans in excess of Rs. 3.0 billion to women entrepreneurs through its 75 locations covering almost all of Sindh Province.
Due to SMFB’s strong performance indicators and low default ratios, the Pakistan Credit Rating Agency (PACRA) assigned the initial entity ratings of A- for the long term and A2 for the short term which in PACRA’s perspective captures the strength of SMFB as a growing institution in the microfinance sector.
SMFB’s key achievements so far have been as follows:
- Profitable from very 1st year of operations
- 100% women loan clientele
- Over 80% rural financing
- More than 100k loans disbursed
- The lowest per borrower cost in the industry
- Highest profit growth (37%) in 2019 amongst all MFB’s