Established in 1989,
First Women Bank Ltd. is a unique institution, one of its kind in the
world. A scheduled Commercial Bank and Development Financial Institution
managed by women, for women to augment the economic status of women by
offering the best financial services and the best banking practices.
First Women Bank Ltd. has made an enormous contribution in alleviating
poverty from the country, and has been making strides to prove itself as
one of the successful bank in the public sector. Economic empowerment of
women is its prime objective. FWBL has enhanced socio-economic status of
women by creating opportunities for employment and self employment in
almost all sectors of the economy.
The Bank with the
commitment to excel, takes upon itself the responsibility to achieve the
Ultimate — its Vision: "To be the lead bank for women: Dynamic, adaptive
and responsive to the special economic needs, offering the best
financial services and the best banking practices."
No country can dream
of freedom from poverty if its major population does not play their
active role. In Pakistan women constitutes 48% of the population and
First Women Bank Ltd. the only bank for women is actually laying the
foundation of a multifaceted revolution by providing women with the
financial and non-financial support. FWBL's main focus is on poorest of
poor women both in urban and rural sector. To date 76.7% of the FWBL
borrowers are in micro-credit category, 23.2% are in small & medium
category and only 0.1% fall under corporate/syndicate loans category.
This reflects the model of First Women Bank Ltd. that caters to women at
all levels of economic activity.
FWBL TO COMBAT ISSUES FACED BY WOMEN:
FWBL was the
pioneering Bank to launch Micro Credit in Pakistan. Women's World
Banking in its Global Directory profiled FWBL for Banking Innovation in
Microfinance, and acknowledged that the FWBL features among the world's
micro finance leaders and that it is a recognized innovator in building
financial products that target low income micro entrepreneur.
The Bank till date
has disbursed Rs. 8.5 billion (Micro and SME Loans) with the best and
maximum outreach by financing 27,851 borrowers, and generating
employments for 1.10 billion people, and a high recovery rate of 96%.
The Bank believes in "A micro borrower of today is the SME client of
tomorrow". The Bank raised the existing Micro Loans ceiling from
Rs:25,000 to Rs:100,000 with lowest mark-up and highest recovery rate.
SERVICES FOR WOMEN:
First Women Bank
Ltd. developed Computer Literacy and Business Centres at Karachi, Lahore
and Islamabad, which have played a very important role in developing
computer and business skills in women who, lacked technical skills and
belonged to lower middle income group. To-date 6,364 women have been
trained at the computer centers. Almost 5,000 women have learned how to
tap business opportunities.
The bank also
developed most powerful product Financial Service Desk (FSD) with core
purpose to truly identify, support, and empower women in business with
five important facets; credit management, trade finance, legal
counselling, tax consultancy and marketing — giving them directions to
use the loans to their best advantage.
The Bank developed
women centric products which are:
•Business loan for
•Personal Loan for Women
•Loans for Consumer Durable
The Bank is in the
process of developing a Business and Professional Women's Directory, to
strengthen linkages, networking and better outreach for women.
FINANCIAL TURNAROUND OF FWBL:
demonstrated phenomenal Financial Turnaround from June 2001 to December
2004 and accomplished the highest ever results in all key components
over the last 15 years.
from Rs. 3.4 billion in 2000 to Rs. 8.7 billion in 2004
•Advances increased from Rs. 604 million in 2000 to Rs. 1.7 billion in
•Balance sheet size / Total Assets increased from Rs. 3.87 billion to Rs.
•Net asset value per share increased from Rs. 5.50 in 2000 to Rs. 20.41
•The accumulated losses of Rs. 138 million as of Dec. 2000 were wiped
out in 2003. Bank issued 20% Bonus Shares to the shareholders, which
increased the paid up Capital from Rs. 200 to Rs:283 million.
The profits earned
by the bank (1989 to 2000) in 11 years were Rs: 282 million as against
profits (2001 to 2004) amounting to Rs:744 million earned in last 4
years. This shows that the Bank is upwardly mobile and progressing at a
The Pakistan Credit
Rating Agency has upgraded the long and short term credit ratings from
'BB' to 'AA' and from 'B' to 'A1+', respectively. The rating
demonstrates the Bank's sustainability and financial strength
COLLABORATIONS WITH INTERNATIONAL & LOCAL AGENCIES:
The Bank entered
into collaboration with international and local agencies, to support its
activities for skill development and micro credit for women as well as
for capacity building and infrastructure strengthening of the Bank:
•FWBL - ILO/IPEC -
International Program for Elimination of Child labour for combating
child labour in carpet weaving industry.
As a result of
•42 micro businesses
•119 Groups for Income Generation (GIG) have been formed,
•976 families financed, to the extent of Rs. 9.904 million in 64
Villages, who were living below poverty line,
•Non-Formal Education schools for children of Carpet Weaving Children
were established in 160 villages in Sheikhupura and Gujranwala
•449 women have been trained in skills with income generating potential,
•Loan recoveries rate is 100%.
•FWBL is soon going to open its first rural banking booth for the needs
of rural women.
•CIDA — for training of women bankers and supporting of Financial
Services Desks at Karachi, Lahore and Islamabad.
The Bank partnered
and financed NGO 'Depilex Smile-again', to perform 10 reconstructive
surgeries by world acclaimed foreign reconstructive surgeons on acid and
kerosene burnt women victims.
FUTURE STRATEGY OF
FIRST WOMEN BANK LIMITED
•10% of the Bank's
portfolio will be allocated for Micro Finance
•Skill Development programme for Rural and Urban Women
•The Urban and Rural Poor women will be provided Educational Loans worth
FWBL will continue to work for a new era of
economic prosperity in the years to come. To transform the status of
women from passive beneficiaries of social services to dynamic economic