About NRSP Microfinance Bank
About NRSP MFBL
NRSP Microfinance Bank Limited “NRSP Microfinance Bank”, headquartered in Bahawalpur commenced operations in March 2011 as a national level microfinance bank. The bank builds on the experience of its parent institution the National Rural Support Program (NRSP) to alleviate poverty and promote financial inclusion in the country.
The bank’s capital has been contributed by highly reputed organizations including the International Finance Corporation, Acumen, KFW and the National Rural Support Program.
Through a network of 70 branches across 27 districts, NRSP bank offers a range of financial services including Deposits, Micro-Credit and Micro-Insurance to the financially excluded individuals living in both urban and rural areas of Pakistan.
In the year 2014, the bank’s long term entity rating was upgraded to A- and short term to A2 by JCR-VIS and it continues to maintain the same rating in the year 2015.
NRSP Microfinance Bank has been incorporated under the Companies Ordinance, 1984 as a public limited company and has been licensed by the State Bank of Pakistan to operate as a nationwide microfinance bank under the Microfinance Ordinance 2001. The authorized share capital of the bank stands at PKR 1 billion.
NRSP Microfinance Bank’s Board of Directors (BOD) comprises of 8 members including 3 representatives from NRSP, 1 nominee each from IFC, KFW and Acumen, 1 independent directors and the CEO as the ex-officio member of the board.
Meetings of the board are held on regular basis to evaluate the bank’s performance, formulate corporate strategy and to plan for the mission focused future operations. The governing body has appropriate gender diversity with two female members. Under the guidance of a strong governing body the bank remains devoted to changing the lives of the poor through financial inclusion.