U Microfinance Bank, Pakistan’s fastest-growing microfinance bank, has been lauded for its ‘Exceptional’ performance in agricultural credit in Pakistan, for Fiscal Year 2023, as rated by the State Bank of Pakistan (SBP). With this, U Bank is leading the microfinance industry in agri-loans in the country with the highest score.
U Bank has achieved a commendable score of 80.6 in SBP’s Agriculture Credit Scoring Model, which utilizes multi-dimensional criteria to evaluate and improve agriculture financing by banks in Pakistan. This score is also the highest amongst all banks in the country, making U Bank one of the top contributors to the impressive growth of 25 percent in agriculture credit disbursement in Pakistan in FY2023, as reported by the SBP recently.
For the recognition of the bank’s efforts, Mr. Kabeer Naqvi, President & CEO – U Microfinance Bank stated, “The SBP has played a key role in revitalizing and supporting the agriculture sector in light of the destruction caused on the country’s farmlands by last year’s devastating floods. We are glad to have achieved this milestone that demonstrates U Bank’s unwavering commitment to fostering financial inclusion and empowering the backbone of our society – the agricultural industry.”
As one of the leading microfinance banks in Pakistan, U Bank remains steadfast in its mission to facilitate economic growth in both rural and urban sectors.