BAFL Equity

completed

The proposed project consists of an equity investment for up to US$67.48 million in Bank Alfalah (“BAFL”, or “Bank”), a commercial bank organized under the laws of Pakistan, which will help the Bank pursue its growth plans. Through the investment, IFC will support the Bank in growing the Bank’s conventional and Islamic banking operations and increase penetration into priority areas like SME banking, access to finance and agri finance.BAFL is the 5th largest bank in Pakistan, with a 5.8% market share in terms of total assets. As of March 2014, the Bank’s total assets stood at US$6.3bn, net loan of US$2.6bn, total equity of US$310mn, and net income of US$46mn in CY 13. The Bank operates a network of 577 branches (as of May-14) in 196 cities across Pakistan that includes 424 conventional banking branches, 10 overseas branches, 140 Islamic banking branches and 1 wholesale banking unit with operations in Pakistan, Bangladesh, Bahrain and Afghanistan.