LOLC Microfinance Bank Honoured as “Best Turnaround Microfinance Bank” by Pakistan Microfinance Network

LOLC Microfinance Bank Limited has been honored with the "Best Turnaround Microfinance Bank" Award in the Medium & Small Tier Category by the Pakistan Microfinance Network (PMN), recognizing the Bank's significant transformation, resilience and progress within Pakistan's microfinance sector.

Key points

• Nizar Noor Ali Momnani, Deputy Chief Executive Officer, highlighted the Bank's ambition for the future: This is an significant milestone, but not the destination.
• Farooq Rashid, Chief Executive Officer, LOLC Microfinance Bank, remarked: This recognition belongs to our entire team.
• The recognition reflects a significant turnaround achieved through a focused transformation of the Bank's portfolio quality, business expansion and financial performance.
• The Bank views the award not simply as a recognition of past performance, but as a benchmark for the journey ahead.
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For context, the recognition reflects a significant turnaround achieved through a focused transformation of the Bank's portfolio quality, business expansion and financial performance. Over the course of this transformation, PAR30 improved from 19.8% to 3.48%, the portfolio grew by 171%, and the Bank achieved profitability in March 2026. These milestones demonstrate the impact of disciplined execution, stronger risk management, operational improvements and a renewed focus on sustainable expansion.

Commenting on the achievement, Mr. Farooq Rashid, Chief Executive Officer, LOLC Microfinance Bank, remarked: "This recognition belongs to our entire team. I sincerely thank our Chairman, Mr. Krishan Thilakaratne, for his continued faith in our individuals and our strategy. This award gives us even greater confidence to build on what we have achieved together."

Mr. Nizar Noor Ali Momnani, Deputy Chief Executive Officer, highlighted the Bank's ambition for the future: "This is an significant milestone, but not the destination. Our focus now is to go further, growth our market penetration and produce responsible microfinance more accessible and reachable for more customers throughout Pakistan. We are looking to introduce more customer-centric products and digital services to better facilitate the underserved segment. This progress would not have been feasible without the dedication, resilience and commitment of our residents, whose collective efforts continue to drive our transformation and strengthen our foundation for future expansion."

Mr. Ilsam Awfer, Chief Operating Officer, emphasized the operational foundation behind the Bank's transformation: "Sustainable expansion is built behind the scenes I am happy to witness the robust foundation we laid a couple of years before to ensure that credit quality, operational excellence and improving the customers convenience is making progressive results. I believe this will be a key reason for us to achieve the success. We are continuously working to further improve the customer experience by adding value to our existing products and processes."

Meanwhile, the Pakistan Microfinance Network (PMN) serves as a representative platform for Pakistan's microfinance sector, bringing together microfinance banks, microfinance institutions and other stakeholders working towards greater financial inclusion.

Meanwhile, the Bank views the award not simply as a recognition of past performance, but as a benchmark for the journey ahead. With a continued focus on customer reach, operational excellence, innovation and responsible expansion, LOLC Microfinance Bank remains committed to making financial services more accessible to individuals, entrepreneurs and communities throughout Pakistan. Stay Connected with ProPakistani.

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For now, LOLC Microfinance Bank Honoured as Best Turnaround Microfinance Bank by Pakistan Microfinance remains the part of the story worth watching, and further updates are likely as more details are confirmed.