Advans SA SICAR (Advans SA), a microfinance investment vehicle managed by Horus Development Finance of France, recently announced the opening of Advans Pakistan Microfinance Bank (MFB) in Karachi, Pakistan. Advans Pakistan MFB provides loans to micro-, small and medium-sized enterprises (MSMEs) in sizes ranging from PKR 10,000 (USD 103) to PKR 150,000 (USD 1,538). Advans Pakistan MFB also offers savings accounts to individuals and MSMEs. The bank expects to offer check clearing and mobile banking services within months [1].
Advans SA holds total assets of EUR 33.5 million (USD 44.5 million) and committed capital of EUR 43.6 million (USD 58 million) with stakes in MFBs in seven countries in Africa and Asia [2].
By Brendan Millan, Research Associate
About Advans SA SICAR
Launched in 2005, Advans SA SICAR is a venture capital company that is registered in Luxembourg and managed by Horus Development Finance of France. The mission of Advans is to increase access to financial services for micro-, small and medium-sized enterprises (MSMEs) in emerging economies. In addition to equity and debt funding for microfinance institutions (MFIs), Advans provides technical assistance to MSMEs in an effort to assist them in achieving sustainable and profitable operations. The Advans network serves 360,000 loan clients via 95 branches in seven countries: Cambodia, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Ghana, Pakistan and Tanzania. As of March 2012, Advans SA held total assets of EUR 33.5 million (USD 44.5 million) and committed capital of EUR 43.6 million (USD 58 million).
About Advans Pakistan MFB
Advans Pakistan MFB is a microfinance bank (MFB) in the Republic of Pakistan and is a member of the Advans SA group of financial institutions. Advans Pakistan MFB was incorporated in April 2012 and opened its first branch in January 2013. The bank offers savings services to consumers and both credit and savings services to micro-, small and medium-sized enterprises (MSMEs). Advans Pakistan MFB is 70-percent held by Advans SA and 30-percent held by the Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (Netherlands Development Finance Company, FMO), a public-private development bank based in the Netherlands. Financial information on Advans Pakistan is not available.
Sources and Additional Resources:
[1] Advans SA: “Advans Pakistan Microfinance Bank launches its operations in Karachi”, http://www.microfinancegateway.org/gm/document-1.9.60237/1301_EN_CP_AdvansPakistan_Start%20of%20Operations.pdf
[2] Advans SA: “2011-2012 Annual Report”, http://www.advansgroup.com/fileadmin/Advans/Annual_reports/Rapport_SA_2011_BAT_web2.pdf
MicroCapital.org story, June 5, 2012, “Advans Incorporates Advans Pakistan Microfinance Bank, La Fayette Microfinance Bank of Nigeria”, https://www.microcapital.org/microcapital-brief-advans-incorporates-advans-pakistan-microfinance-bank-la-fayette-microfinance-bank-of-nigeria/
MicroCapital.org story, April 8, 2012, “Advans SA Opens Microfinance Institution Advans Cote d’Ivoire, International Finance Corporation (IFC) Invests $1m in Equity”, https://www.microcapital.org/microcapital-brief-advans-sa-opens-microfinance-institution-advans-cote-divoire-international-finance-corporation-ifc-invests-1m-in-equity/
MicroCapital.org story, February 4, 2012, “Advans, International Finance Corporation (IFC), KfW Bankengruppe, FMO to Start La Fayette Microfinance Bank in Nigeria with $6.2m in Equity Investments”, https://www.microcapital.org/microcapital-brief-advans-international-finance-corporation-ifc-kfw-bankengruppe-fmo-to-start-la-fayette-microfinance-bank-in-nigeria-with-6-2m-in-equity-investments/
MicroCapital Universe Profile: Advans SA SICAR, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+SA
MicroCapital Universe Profile: Advans Pakistan MFB, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+Pakistan
MicroCapital Universe Profile: The Netherlands Development Finance Company (FMO)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Nederlandse+Financierings-Maatschappijvoor+Ontwikkelingslanden+N.V.+%28Netherlands+Development+Finance+Company%2C+FMO%29
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