What’s in a name?: Network Microfinance Bank renamed

NMBL in an EGM has approved the renaming of the institution as Apna Microfinance Bank Limited.

ISLAMABAD: The board of directors of the Network Microfinance Bank Limited (NMBL), in an extraordinary general meeting (EGM), has approved the renaming of the institution as Apna Microfinance Bank Limited. It has also been decided that the authorised capital of the bank be increased from Rs500 million to Rs1.5 billion. On the occasion, Mian Shahid, chairperson of the United Insurance Group, said that lower-income groups should not be deprived of proper financial services, and microfinance banks should step in to bridge this divide. He said that the bank will continue to focus on providing financial services to farmers, agricultural markets, small sized businesses and individuals.

Published in The Express Tribune, February 21^st, 2012.